- Fanavaran plant running at 90%, Kimiaye at 50%- Indian ex-tank at Rupees 24,.50-24.75/kg



On July 28, Chinese methanol futures rose
Yuan119-170/mt due to bullish crude oil prices and unsubstantiated talk about
unplanned methanol plant failures in Iran. Many market sources believe that the Asian methanol market
is at its bottom as methanol producers around the world consider cutting
operating rates or ceasing production. Morning
trade was buoyant by news of unplanned outages at Iran's Fanavaran
Petrochemical Company methanol plants. These reports were later disproved. The September methanol futures contract of the Zhengzhou
Commodity Exchange was closed at Yuan 119-170/mt, up from Yuan 2,571-2,650/mt
in the previous session. Fanavaran
Petrochemical Company's 1,000,000 mt/year Methanol Plant was not closed. On July 28, a company source stated that the plant was
operating at 90% capacity. A Middle...