INEOS NOVA begins styrene restart at Texas City

04 January 2010 18:04  [Source: ICIS news]

HOUSTON (ICIS news)--Global styrene major INEOS NOVA began restart procedures for its idled Texas City styrene plant in Texas, market sources said on Monday.

A filing made with the Texas Commission on Environmental Quality (TCEQ) said air startup at the 530,000 tonne/year plant began Monday morning following planned maintenance.

INEOS NOVA sources declined to specify when the plant was expected to return to full operation, but said the plant was definitely restarting.

The Texas City styrene plant was taken offline in late October amid poor profitability, company sources said.

The restart comes at a time when styrene supplies are tight and prices are rising amid higher feedstock costs and cracker outages in Europe.

Spot styrene for January was talked around 58-59 cents/lb ($1,278-1,301/tonne, €895-910/tonne) FOB (free on board) US Gulf (USG), according to global chemical market intelligence service ICIS pricing. Those values are up more than seven cents from early December.

($1 = €0.70)

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By: Landon Feller
+1 713 525 2653



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