20 July 2012 11:52 [Source: ICIS news]
LONDON (ICIS)--Italy-based producer Polynt has declared force majeure on its European phthalic anhydride (PA) supplies because of a shortage of feedstock orhtoxylene (OX), a company source confirmed on Friday.
The source added that the force majeure was the result of production problems at a major OX supplier. This could not be confirmed with the OX supplier at the time of going to press.
Sources have talked about PA production problems in the European marketplace since mid-June, and the resulting tightness has kept PA spot prices firm in spite of falls in OX costs and weakening demand because of the approach of traditional August end-user outages.
“We were looking for some falke [spot material] but there’s none available. It’s a little tight on the Polynt force majeure,” a PA trader said.
Polynt declared force majeure on PA on 15 June 2012, but confirmation was not available until now.
Polynt has the capacity to produce 80,000 tonnes/year of PA from its plant in ?xml:namespace>
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections