25 February 2010 17:34 [Source: ICIS news]
HOUSTON (ICIS news)--LyondellBasell has lifted its force majeure (FM) on US VAM that had been in effect for almost two months at its LaPorte unit in Texas, according to a customer letter obtained on Thursday.
The letter said the company's Millennium Petrochemicals unit had restarted a compressor that failed in late December and that VAM production is now running at full capacity.
Lyondell spokesman David Harpole said that the company does not comment on letters to customers.
The letter, dated 23 February, said the unit would increase the current allocation to customers from 50% to 100% effective on 1 March for all contract VAM customers based on their average monthly purchase for the six-month period running from July-December 2009.
All five plants that produce US VAM are in the ?xml:namespace>
US Gulf coast export FOB (free on board) prices ranged $700-865/tonne (€518-640/tonne) over the past month, according to global chemical market intelligence service ICIS pricing.
($1 = €0.74)
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