Japan’s Nippon Shokubai MA stocks to partly fulfil Oct contracts

12 October 2012 04:30  [Source: ICIS news]

SINGAPORE (ICIS)--Nippon Shokubai’s current inventory of maleic anhydride (MA) will be able to fulfil only a portion of its domestic October contract for briquette-type material, while exports had to be cancelled, a company source said on Friday.

The company’s 35,000 tonne/year MA plant at Himeji has been shut since late September following an explosion at the acrylic acid (AA) and super absorbent polymer (SAP) facilities at the site.

No definite restart date is set for the MA plant, the source said.

The company’s previously concluded October-loading MA export orders were cancelled after negotiations with customers, the source said.

Spot MA prices were assessed at $1,740-1,810/tonne (€1,340-1,394/tonne) CFR (cost & freight) southeast (SE) Asia in the week ended 5 October, while the October contract prices of MA were assessed at yen (Y) 160-180/kg ($2,042-2,297/tonne) DEL (delivered) Japan, according to ICIS.

($1 = €0.77 / $1 = Y78.35)

By: Hazel Goh

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