INEOS Grangemouth PP force majeure to remain until end of April
01 April 2010 09:57 [Source: ICIS news]
LONDON (ICIS news)--INEOS’s force majeure on polypropylene (PP) from its 285,000 tonne/year plant at Grangemouth, UK, will remain in place until the end of April, a company source said on Thursday.
“The plant is fully back on stream but force majeure will be in place until the end of April. Product is very, very tight,” said the INEOS source.
The plant had been shut down for a week after technical issues halted production over the weekend of 13-14 March.
PP availability was generally limited throughout ?xml:namespace>Europe, and producers planned big price hikes for April.
There were already signs of April prices rising by €100/tonne ($135/tonne) compared with March, to €1,200/tonne FD (free delivered) NWE (northwest Europe) on a net basis.
PP producers in Europe include LyondellBasell, Borealis, SABIC, Total Petrochemicals, Dow Chemical, Repsol, INEOS Olefins and Polymers, Polychim and Domo.
($1 = €0.74)
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