Japan's Nihon Oxirane ups December SM nomination by $10/tonne

24 November 2010 02:57  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Nihon Oxirane Co has nominated a $10/tonne increase in its styrene monomer (SM) contract price for December at $1,300/tonne (€975/tonne), a company source said on Wednesday.

The contract price in November was $1,290/tonne CFR (cost and freight) Asia, (LC) letter of credit 30 days.

SM spot prices hovered mostly in the high $1,200/tonne CFR China levels in November. Prices slipped below $1,250/tonne CFR China in the second week of the month but rebounded afterwards, according to ICIS data.

Nihon Oxirane is a joint venture (JV) between Sumitomo Chemical Co and LyondellBasell.

The company operates a plant at Sodegaura in Japan’s Chiba prefecture that can produce 180,000 tonnes/year of propylene oxide (PO) and 425,000 tonnes/year of SM.

($1= €0.75)

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By: Clive Ong
+65 6780 4359

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