The leading manufacturer of Olefins from Methanol-to-olefins MTO) units are likely to resume their production by end of this month. This means that demand for methanol will shoot up in China. But unlikely there has been no aggression in demand as majority of the units has piled up their inventory earlier in the month of December. Prices remained soft-to-stable for this week in China. Units like Inner-Mongolia Erods Jinchengtai Chemical having the production capacity of 9,00,000 tonnes per year has resumed its production post maintenance on 15 April. The other unit Shandong Yunkuang Coking has also restarted the unit on 20 April having the production capacity of 2,00,000 mt/year. Buyers further believe softening in prices due to heavy supply of the chemical in the month of May. Similar trend are seen in other south Asian countries like Taiwan, South Korea and India.
