18 March 2011 22:39 [Source: ICIS news]
HOUSTON (ICIS)--Recent operational issues at a LyondellBasell propylene oxide/styrene monomer (POSM) unit in Channelview, Texas, may have caused the company either to declare force majeure on SM or put customers on sales allocation, market participants said on Friday.
According to a filing with the Texas Commission on Environmental Quality (TCEQ), the POSM unit was temporarily taken off line on Thursday in order to eliminate flaring after the flow of cooling water to the unit was interrupted.
LyondellBasell has a combined SM capacity of 1.25m tonnes/year at Channelview.
No force majeure or sales allocation was confirmed. LyondellBasell would not discuss the situation.
SM markets saw little to no reaction during the day.
US SM spot levels were unchanged from Thursday at 67.25–67.75 cents/lb FOB USG (US Gulf).
In Europe, March bids were up $10/tonne. taking price levels to $1,470–1,490/tonne (€66.68–67.58 cents/lb) FOB (free on board) RDAM (Rotterdam).
($1 = €0.71)
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