26 July 2013 17:41 [Source: ICIS news]
LONDON (ICIS)--Methanol consumption in southern Europe is likely to decrease during August because many downstream plants will be taken offline, sources said on Friday.
A methanol supplier in Italy said many of consumers were going to either shut down their plants, or reduce operating rates, for the first three weeks of the month.
A consumer with plants in global locations, including Italy, said its Italian operations would be shut for the duration of August.
The supplier noted, however, that the decrease in demand would be limited to producers of traditional chemical derivatives. Production of the gasoline additive methyl tertiary butyl ether (MTBE) is currently high, as summer is the peak time for gasoline consumption. According to the supplier, MTBE volumes could go some way to offsetting the reduced demand from other methanol applications.
Operations in Spain are also expected to decrease in August.
By contrast, northwest European demand is expected to remain flat, as it has done so far in 2013. Suppliers have received volume nominations for August from their customers, and say there has been no decrease in volumes requested.
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