Indonesia's SMI delays No 1 styrene plant restart to mid July

29 June 2010 04:21  [Source: ICIS news]

SINGAPORE (ICIS news)--Styrindo Mono Indonesia (SMI) has delayed the restart of its 100,000 tonne/year No 1 styrene monomer (SM) plant to mid July, due to dismal market conditions, a company source said on Tuesday.

The unit in Merak was taken off line in the middle of May for a catalyst change and was initially scheduled to restart in late June.

Works on the plant had been completed but the supplier decided to delay its restart, the source said.

SM spot prices into the key Chinese market tumbled by about 15% from mid May to below $1,050/tonne (€850.5/tonne) CFR (cost and freight) this week, based on ICIS data.

SMI's 250,000 tonne/year No 2 plant at the same site is currently running normally, the source said.

($1 = €0.81)

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By: Clive Ong
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