26 June 2008 14:48 [Source: ICIS news]
LONDON (ICIS news)--Polimeri Europa has declared force majeure on its downstream styrenics products at Mantova in ?xml:namespace>
“We have called force majeure on ABS, SAN, PS and EPS,” the source said.
“We will have difficulty supplying our customers for at least four weeks.”
Mantova is the sole source of Polimeri’s acrylonitrile butadiene styrene (ABS), with annual capacity of 50,000-55,000 tonnes/year, and styrene acrylonitrile (SAN) production, with 35,000 tonnes/year of capacity.
Polimeri Europa also has two units of styrene production at Mantova, with a combined capacity just short of 600,000 tonnes/year, but styrene production was down for maintenance at the time of the incident.
The problems came at a time when PS producers were preparing the European market for another price hike, after passing an average increase of €80/tonne (125/tonne) in June.
PS producers continued to complain of poor margins and intended to hike July PS by €50-100/tonne.
Demand was weak, however, and production was cut back across the board in order to accommodate poor volumes.
July PS discussions were not expected to begin until the beginning of the month.
PS producers in
($1 = €0.64)
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