RELEASED ON 20/03/13 (DD/MM/YY)

SABIC has unexpectedly shut its 500,000 tonne/year SADAF No 2 styrene monomer (SM) unit at Jubail, Saudi Arabia, on 19 March, a market source said on Wednesday.

The specific reason for the shutdown and the exact restarting date for the unit is unavailable.

In light of the shutdown, SM prices have been pushed up and the contract cargoes for May delivery have been cancelled, the source added.

The prices are at $1,635-1,660/tonne (€1,275-1,295/tonne) CFR (cost & freight) China on 20 March, up by $10-15/tonne compared with $1,625-1,645/tonne on 19 March, according to ICIS.

The company shut its 550,000 tonne/year SADAF No 1 styrene monomer (SM) unit at the same site from early February for maintenance, which is expected to be restarted at the end of March, according to the market source.

SOURCE ICIS News - For internal use only