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INEOS lifts FM on Impact CoPP
11/04/2024
In a letter to customers dated November 4, 2024 INEOS lifted its declaration of force majeure on impact CoPP Polypropylene after resuming normal operations and restoring inventories for the grade.
The force majeure was implemented July 23, 2024 following an equipment failure and mechanical breakdown on July 20, 2024 when Hurricane Beryl had also led to tightened supply conditions earlier this summer.
According to data from the American Chemistry Council (ACC), total Polypropylene inventories grew by over 125 million lbs between August and September following a small drawdown in July while exports remain strong above 4% of total sales easing slowly each month from a peak above 5.5% in June.
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