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However, as a leader in the same industry in Shanxi, the suspension of the Antai Group project has attracted much attention.
In fact, in addition to the inversion phenomenon that appears on the cost, the underdevelopment of the downstream product chain of methanol has also become a common problem encountered by alcohol ether companies in our province. The relevant policies have been difficult to introduce, or even though it has been introduced but it is difficult to effectively implement them, which also restricts the development of the alcohol ether industry in the province.
In view of a number of constraints, relevant persons from the Chemical Industry Management Office of Shanxi Province suggested that companies should be cautious in selecting alcohol ether projects at the current stage.
Aetna shareholder passed approval proposal on November 9th, Antai Group held the first temporary shareholders meeting in 2010. The meeting approved the proposal to suspend the construction of an annual output of 200,000 tons of coke oven gas to produce methanol and 100,000 tons of dimethyl ether project. .
According to the announcement issued by Aetna Group on the 10th, the Group believes that due to the continuous impact of the global financial crisis, after entering 2010, the methanol and dimethyl ether industries did not continue the previous recovery trend, but fell into an extremely depressed market, selling prices and product costs. Inverted, a large number of methanol and dimethyl ether companies are in a state of loss, and companies are increasingly forced to stop production.
On November 10, relevant staff of Antai Group said in an interview with reporters: “After a comprehensive analysis of the methanol and dimethyl ether markets, the Group considered 200,000 tons of coke oven gas to produce methanol and 100,000 tons of dimethyl ether. After the completion of the project, there is a huge market risk. In order to benefit the company and the investors, the company adjusted its investment direction according to market needs."
The same person also stated that the Antai Group raised 800,000 tons of slag fine powder project and LNG project that were funded by the change of funds, which is more in line with the relevant national policies and the direction of the Group's transformation.
Severe overcapacity in the alcohol ether industry In fact, the Anteco Group's forced construction of the alcohol ether project is just one example of the continuous downturn of the entire alcohol ether industry. The shadow of overcapacity is overshadowed by numerous manufacturers in the entire industry.
At the third international methanol-dimethyl ether/LPG (liquefied petroleum gas) industrial chain market summit and 2010 China methanol gasoline market seminar, Feng Shiliang, a senior analyst at the China Petroleum and Chemical Industry Federation, predicted that by the end of 2010, China The methanol production capacity will reach at least 29.534 million tons, and the output is expected to be only 14.8 million tons. The optimistic estimate of the operating rate of the company can only reach 50%.
Some analysts believe that the methanol industry is currently in a situation of serious overcapacity and intense competition. According to relevant information provided by the Provincial Chemical Industry Office, the situation in Shanxi is equally not optimistic. In April this year, a number of relevant departments in Shanxi Province had jointly conducted a survey of the province's methanol production capacity. The survey results showed that there are 27 alcohol companies in Shanxi Province, and the production capacity ranks fifth in the country.
A person from Wang Xing, who has long been engaged in the research of the chemical industry in Shanxi Province, believes that the current production capacity of methanol in the province is a serious excess.
The reporter learned that under the circumstance that the traditional consumption of domestic methanol has been saturated, the pressure to develop the downstream market for methanol has increased. Many companies in China are also actively participating in the development of the downstream methanol market because of this.
According to the relevant personnel of the Provincial Chemical Industry Industry Management Office, one of the main reasons for the overcapacity of methanol companies in our province is that the development of the methanol downstream product chain is not enough.
Into the shadow of excess capacity Antai Group failed to invest in alcohol ether industry
On November 9, Aetna Group held an extraordinary general meeting of shareholders to approve the proposal to suspend the construction of a project to produce 200,000 tons of coke oven gas per year for methanol and 100,000 tons of dimethyl ether. The Group’s announcement stated that the sales prices of methanol and dimethyl ether industries have reversed with the product costs, and many methanol and dimethyl ether enterprises have been losing money.