Japan's Nihon Oxirane lowers Dec SM nomination by $40/tonne
24 November 2011 08:11 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>Japan’s Nihon Oxirane has nominated its December contract price for styrene monomer (SM) at $1,360/tonne (€1,020/tonne), down by $40/tonne from November's figure, a company source said on Thursday.
The price is on a CFR (cost & freight) Asia LC (letter of credit) 30 days basis.
Spot prices in Asia fell to below $1,300/tonne CFR China this week from around $1,350/tonne CFR China in late October, according to data from ICIS.
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 = €0.75)
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