Japan’s Nihon Oxirane lowers July SM contract price nomination

27 June 2011 09:12  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Nihon Oxirane has nominated its July styrene monomer (SM) contract price at $1,470/tonne (€1,044/tonne) CFR (cost & freight) Asia, LC (letter of credit) 30 days, a company source said on Monday.

The nomination is $60/tonne lower than the company's June quotation of $1,530/tonne CFR Asia, LC 30 days.

Spot prices in Asia declined over the month of June, with prices into the key Chinese market at around $1,360/tonne CFR this week, down from around $1,400/tonne CFR a month ago.  

Nihon Oxirane is a joint venture between Sumitomo Chemical 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 = €0.71)

For more information on styrene, visit ICIS chemical intelligence

 

By: Clive Ong
+65 6780 4359

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