Nihon Oxirane lowers Dec SM nomination by $300/t

27 November 2008 04:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s Nihon Oxirane Co, a producer of styrene monomer (SM), has lowered its December contract price nomination by a third to $600/tonne (€462/tonne) from the previous month, taking into account sharply lower spot values, a company source said on Thursday.

 

The nominated price in November was $900/tonne CFR (cost and freight) Asia in November.

 

Spot values fell to around $550/tonne (€424/tonne) CFR China in mid-November from $1,365/tonne in late September, according to global 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 that produces 180,000 tonnes/year of propylene oxide (PO) and 425,000 tonnes/year of SM.

 

($1 = €0.77)

 

For more information on SM, visit ICIS chemical intelligence

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By: Clive Ong
+65 6780 4359

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