15 October 2012 16:38 [Source: ICIS news]
LONDON (ICIS)--INEOS Styrenics will permanently halt the production of styrene monomer (SM) and polystyrene (PS) at its site in Marl, Germany, this week, a source at the Switzerland-headquartered producer confirmed on Monday.
“INEOS Styrenics confirms that production of polystyrene (PS) at Marl, Germany, stopped yesterday, and production of styrene monomer (SM) will cease during this week,” the source said.
“It is always a sad time when plants close, but our focus now is on the safe decommissioning of the two plants, and working with the affected employees to find future roles,” the source added.
The INEOS site at Marl consists of four plants, which produce 110,000 tonnes/year of expandable polystyrene (EPS), 260,000 tonnes/year of cumene, 180,000 tonne/year of PS and 350,000 tonne/year of styrene.
The source added that INEOS’ production of EPS and cumene at the Marl site will continue.
The Marl closure was originally announced in March this year so the permanent shutdown is of no surprise to the market and is not expected to have an immediate impact on the SM or PS sectors.
It has been reported that the European market has been looking at importing material to cover the shortfall, which could result in some price volatility, but this remains to be seen.
Both the styrene and feedstock benzene markets were quiet on Monday, with prices hardly moving from Friday's closing ranges.
October spot styrene was offered in the low $1,600s/tonne FOB (free on board) Rotterdam, but there were few buyers seen in the market.
October spot benzene was valued at circa $1,280-1,300/tonne (€986-1,001/tonne) CIF (cost and freight) ARA (Amsterdam, Rotterdam, Antwerp).($1= 0.77)
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