Nihon Oxirane cuts Oct SM nomination by $130/t

26 September 2008 09:07  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s Nihon Oxirane Co has lowered its October styrene monomer (SM) contract nomination by $130/tonne from September on continued losses in the spot market, a company source said on Friday.

The company had nominated its October contract price at $1,450/tonne CFR (cost and freight) Asia, the source added.

The price was lower than September’s $1,580/tonne CFR Asia.

Spot values fell to $1,380/tonne CFR China in late September, compared with $1,500-1,515/tonne CFR China a month ago, according to global chemical market intelligence service ICIS pricing.

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

For more on SM and PO visit ICIS chemical intelligence 
To discuss issues facing the chemical industry visit ICIS connect

By: Clive Ong
+65 6780 4359

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