Nihon Oxirane lowers August SM nomination by $5/t

26 July 2007 10:37  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese styrene monomer (SM) producer Nihon Oxirane Co has reduced its August contract price nomination by $5/tonne, a company source said on Thursday, the modest drop reflecting the stable spot market in Asia over the past few weeks.

 

The nomination stood at $1,375/tonne CFR (cost and freight) Asia, LC (letter of credit) 30 days, from July’s figure of $1,380/tonne CFR Asia.

 

SM spot prices fluctuated between $1,350-1,390/tonne CFR China in July, according to global chemicals market intelligence service ICIS pricing.

 

Nihon Oxirane, a joint venture of Japan’s Sumitomo Chemical and US major Lyondell Chemical, operates a 180,000 tonne/year propylene oxide (PO) and 425,000 tonne/year SM plant in Sodegaura, Chiba prefecture.

By: Clive Ong
+65 6780 4359

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