27 August 2013 08:06 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Xinneng Fenghuang shut its 360,000 tonne/year No 2 coal-based methanol unit in Shandong province for maintenance on 26 August because of mechanical issues, a company source said on Tuesday.
The unit is expected to be shut for three to four days, the source said.
The company’s No 1 methanol unit at the same site, which also has a capacity of 360,000 tonnes/year, is currently running at 100%, the source said.
The decline in methanol prices is expected to slow down because of the decrease in supply on the back of the shutdown, market participants said.
Methanol prices in Shandong were at yuan (CNY) 2,620-2,690/tonne ($428-440/tonne) EXW (ex-works) on 27 August, down by CNY10-20/tonne from 26 August, according to Chemease, an ICIS service in China.
($1 = CNY6.12)
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