30 June 2010 03:57 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korean producer LG Chem plans to restart its 160,000 tonne/year styrene monomer (SM) unit in Daesan on 6 July after maintenance, a company source said on Wednesday.
The plant was taken off line on 16 June. The turnaround was initially scheduled for August but was brought forward to June due to weak market conditions.
Spot prices of SM into the key Chinese market slumped to below $1,050/tonne (€861/tonne) CFR (cost and freight) China in the second half of June from $1,240/tonne CFR China in early May, according to ICIS data.
The company operates two more SM lines in Yeochon where the annual output there is around 500,000 tonnes.
Other SM producers in South Korea include SK Energy, Samsung Total and Lotte Daesan.
($1 = €0.82)
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