- 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 Yuan119-140/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 119-140/mt, up from Yuan 2,571-2,600/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...