03 October 2008 18:27 [Source: ICIS news]
HOUSTON (ICIS news)--US styrene butadiene rubber (SBR) producer International Specialty Products (ISP) has restarted its Port Neches production facility in Texas following a force majeure (FM) declaration, the company said on Friday.
Although the 235,000 tonne/year plant was in operation, production was below normal operating rates, according to the company.
ISP declared the FM on 15 September after water quality issues developed following the shutdown of the plant ahead of Hurricane Ike, which made landfall on the ?xml:namespace>
While the FM was lifted on several grades of SBR, including 1006, 1009AF, 1011AC, 1011AE, 1012, 1013 and 4503, it remained in effect for all other grades - including 1502 non-oil grade and 1712 oil extended grade product - until inventory levels could be rebuilt, the company said.
For grades still subject to the FM, shipments will be allocated by grade according to customer contracts and purchasing history over the last six months, ISP said.
September contract prices for 1502 grade and 1712 grade product were $1.380-1.470/lb ($3,042-3,241/tonne, €2,190-2,334/tonne) and $1.290-1.385/lb, respectively, according to global chemical market intelligence service ICIS pricing.
($1 = €0.72)
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