04 October 2013 07:45 [Source: ICIS news]
SINGAPORE (ICIS)--Malaysia’s PETRONAS Chemicals Group (PCG) is running its 1.7m tonne/year No 2 methanol plant in Labuan at 60-70% after its restart over the weekend on 28-29 September, a company source said on Friday.
The plant was taken off line on 15 July for maintenance.
PCG’s 660,000 tonne/year No 1 methanol unit at the same site continues to be in operation, and is running at a slightly higher rate than that of the No 2 unit, the source said.
Many market participants said methanol supply is tight, which has led prices to increase.
The prices are at a level which major downstream customers such as formaldehyde and solvent makers could not support, the end-users added.
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