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Total lifts force majeure declaration for impact CoPP
HOUSTON, August 31, 2018 (PCW) -- Total notified customers today that it is lifting the force majeure declaration for impact copolymer PP (CoPP) products, effective September 1.
The company declared force majeure on impact CoPP products from La Porte, TX back on June 4, citing "a series of unplanned and external events that have impacted production levels."
Overall US impact CoPP supply has been tight in recent months, but brokers are expecting more incremental availability in September-October.
In addition, higher monomer costs for US PP suppliers have driven prime PP selling prices into the 80s cpp, which has opened the door for PP imports from Asia and the Mideast. -- David Barry