18 June 2010 16:47 [Source: ICIS news]
“An unforeseen technical issue on the cracker at Lavera has forced our operator Naphta Chimie to shut down the cracker for an estimated period of around 8 days” he said.
The cracker was reported to have gone down on 17 June.
Longden also confirmed that force majeure had been declared on polypropylene supplies from the site.
Propylene was under pressure in Europe due to improved supply since most crackers and refineries were running well and weakness in global markets meant that ?xml:namespace>
Spot prices were being assessed in the low €900s/tonne ($1,100s/tonne) CIF (cost insurance freight) NWE (northwest
July contract discussions were expected to get under way next week; June had settled at a rollover €1,000/tonne FD (free delivered) NWE.
($1 = €0.81)
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