- Prices stable since mid December, lowest since mid July
2020- INEOS, Pinnacle Polymers declare force majeure after
freeze: letters



Spot export polypropylene
levels in the US held steady at Dec. 21 levels as of Jan. 4, with prices
staying below two years, as the market remains quiet to start 2023 amid multiple
force majeure events. One
source indicated wide-spec material was readily available. On the domestic
side, contracts were assessed flat from Dec. 21 level spending confirmation of
November settlements. Two producers of PP--INEOS Olefins & Polymers USA and
Pinnacle Polymers--declared force majeure on production at Texas-based plants
following the Dec. 22-25 freeze on the US Gulf Coast, according to customer
letters seenDec. 29. Both companies
declared force majeure in PP production following the Dec. 28-datedletters. "Recent
extreme weather conditions affecting the Houston...