A subsidiary of Sinopec stopped production due to a failure!

At 8 o'clock on August 6, 2021, the methanol-to-olefin (MTO) plant of Zhong'an United Coal Chemical Co., Ltd. was shut down due to a regenerator failure. The specific situation is still under further investigation.

It is reported that Zhong’an United Coal Chemical Co., Ltd. is a 50:50 joint venture formed by Sinopec Great Wall Energy Chemical Co., Ltd. and Anhui Wanbei Coal and Electricity Group. It is a key project of strategic cooperation between Anhui Province and Sinopec, Huainan City. Project No. 1".

Market news:

From the perspective of the overall market development, the peak of domestic methanol plant maintenance has gradually passed, and the output of new plants has been gradually released. The supply from the mainland in August is expected to be relatively stable.

In the international market, the overseas pre-maintenance equipment has basically returned to normal, and the Iranian supply problem has been effectively alleviated. In addition, the increase in import profits will increase the enthusiasm of traders to import. The methanol import volume is expected to increase in August.

However, the typhoon weather made the previous estimate concentrated on imported cargo arriving at the port from late July to early August, and the overall arrival and unloading progress has been moved backward. The situation of imported cargo arriving at the port in August and unloading may appear again. In addition, The coastal MTO’s dissatisfaction with the start-up and the parking plan, East China port inventory may continue to accumulate;

At the same time, Guangxi Huayi is about to officially ship, but the demand is not expected to increase significantly, and the inventory of South China ports is also expected to accumulate. On the demand side, most of the traditional downstream companies are losing money, and their willingness to start construction has been suppressed.

In terms of olefin demand, most of the olefin plants in East China remained in operation, and the load of individual plants decreased slightly. Datang Duolun’s 460,000-ton/year plant was restored to around 80% on July 20; China Coal Mongolia University’s 600,000-ton/year was overhauled as scheduled on July 16 and is expected to be about 30 days; Inner Mongolia Jiutai 600,000 The ton/year has been overhauled on July 15th, and it is expected to be about 25 days. In addition, the 600,000-ton/year MTO of Chengzhi Phase II is scheduled to be overhauled for 15-20 days in early August.

The overhaul of many olefin plants in Northwest China has been fulfilled, and the demand for outsourcing has been suppressed. At present, the profit of methanol-to-olefins disk continues to weaken to a loss state, which may cause some MTO plants to fall.