09 July 2013 09:46 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s LG Chem will bring forward the turnaround of its styrene butadiene rubber (SBR) and butadiene rubber (BR) plants from September to July because of the prevailing poor market conditions, a company source said.
“We will shut the SBR plant for five days and the BR plant for 10 days in mid-July instead of the original schedule in September as the market is very poor,” a company source said.
LG Chem runs a 135,000 tonne/year SBR plant and an 180,000 tonne/year BR plant at Daesan in South Korea.
SBR and BR prices have been falling week-on-week since mid-June because of poor demand and oversupply, industry sources said.
Non-oil grade 1502 SBR and high-cis BR prices have both dropped by $300/tonne (€234/tonne) since mid-June, according to ICIS data.
On 3 July, non-oil grade 1502 SBR prices averaged $1,725/tonne CIF (cost, insurance & freight) China compared with an average of $2,025/tonne CIF China on 12 June, ICIS data showed.
High-cis BR prices averaged $1,825/tonne CFR (cost & freight) NE (northeast) Asia on 4 July, down by $300/tonne from 13 June, when prices averaged $2,125/tonne CFR NE Asia, ICIS data showed.
($1 = €0.78)
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