10 February 2010 05:41 [Source: ICIS news]
By Clive Ong
SINGAPORE (ICIS news)--Asian styrene monomer (SM) prices are likely to come under pressure in the second quarter as a result of more than 1m tonnes of additional supply due to come on stream in China and the Middle East later this year, market sources said on Wednesday.
“With additional supply coming to ?xml:namespace>
(Please see table below)
In the second half of 2009, a number of facilities in
From August to October 2009, new facilities that came on stream in
“More facilities of larger capacities were expected to come on stream in
This year, Tianjin Dagu Petrochemicals has started its 500,000 tonne/year SM unit in January.
“Dagu would likely have material for the market by late February, while currently they are already selling small quantities of spot parcels,” said a trader in
Huajin Petrochemicals has completed the construction of its 150,000 tonne/year SM unit and could bring it on stream in March, according to market sources.
The Zhenhai Refining and Chemical Co and Lyondellbasell’s propylene oxide styrene monomer (POSM) facility at
SM prices stood at $1,290/tonne (€942/tonne) CFR (cost and freight) China on 9 February.
SM is a feedstock for plastic resins like polystyrene, expandable polystyrene and acrylonitrile-butadiene-styrene. It is also used to manufacture synthetic rubbers like styrene-butadiene-rubber and styrene-butadiene latex.
($1 = €0.73)
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