China’s Hebi Coal Industry to restart Henan methanol unit on 31 Jul

29 July 2014 07:56 Source:ICIS News

SINGAPORE (ICIS)--China’s Hebi Coal Industry (Group) Corp will restart its 500,000 tonne/year coal-based methanol plant in Henan province on 31 July after completing maintenance at the unit, a company source said on Tuesday.

The plant was taken off line on 10 July, according to the source.

The restart of Hebi Coal Industry’s plant may weigh on methanol prices in Henan, as supply will increase while demand for downstream formaldehyde and dimethyl ether (DME) is still weak, market participants said.

Methanol prices in Henan were at yuan (CNY) 2,250-2,270/tonne ($360-363/tonne) EXW (ex-works) on 29 July, unchanged from the previous day, according to Chemease, an ICIS service in China.

($1 = CNY6.25)

By Rachel Qian