SM Prices journey south in Europe & Asia
March was a tough month for SM. The prices plunged sharply in Europe & Asia due to slow market demand and coupled with the fall of benzene. SM prices on 1st week March:
FOB Rotterdam assessed at USD 1,515/MT,
CFR SEA settled at USD 1,415/MT.
After weeks of struggling, though there are few price rises; SM prices continued to inch down, despite firmer crude oil & benzene rates.
SM on 31 March 2017:
FOB Rotterdam assessed at USD 1,220/MT,
CFR SEA settled at USD 1,225/MT
After few days of prices rebounded, SM declined further in Europe at the beginning of April due to quiet market demand. However, SM prices in Asia climbed further with strong buying in the key market, followed by firmer crude oil and benzene rates. Compared with the end of March 2017, SM on 10 April 2017:
FOB Rotterdam at USD 1,175/MT
CFR SEA at USD 1,255/MT
Production News:
Singapore PS plant is planning to shut down for one-month maintenance in August 2017.
South Korea’s LG Chem resumed production at its No 1 and No 2 styrene monomer plants at Yeosu after a planned maintenance that started in March.
Hong Kong Petrochemical resumed PS production on March following a maintenance since March 13, 2017.
Nippon Steel Chemical Company (NSCC) shut its No.2 styrene monomer (SM) plant for scheduled maintenance on March 24, 2017. The plant is expected to remain offline for a period of 3 weeks.
Nippon Steel Chemical Company (NSCC) restarted its No.3 styrene monomer (SM) plant on 22 March 2017, following a maintenance turnaround. The plant was shut since February 22, 2017.
Japan’s Idemitsu Kosan resumed styrene production at its 210,000 tonnes/year styrene plant at Chiba on April 1-2 after a planned maintenance
Taiwan’s Formosa Chemicals & Fibre Corp is planning to shut its largest No 3 styrene line from April to May for a month due to a planned maintenance.
An explosion happened at Taiwan’s Formosa Chemicals & Fiber Corporation’s (FCFC) No 1 styrene plant located at Mailiao due to technical issues on March 6, 2017. 4 employees were reportedly injured and the 250,000 tonnes/year capacity plant was shut after the incident and the restart date is unclear for now.
*Source from Polymerupdate & Chemorbis*
