LATEST NEWS: Inovyn issues force majeure on European PVC supply
“Due to an external power outage on our Rafnes site (in Norway) over the weekend resulting in the shutdown of our VCM operations on the site, the production of General Purpose PVC in our northern plants has been slowed down or stopped and will be severely disturbed in the near future,” the company said.
“This is a Force Majeure event the duration of which we estimate to be at least several weeks,” it added.
Inovyn also said that the delivery issues it was facing currently were unforeseeable and beyond its control.
Inovyn’s force majeure further tightens PVC supply. The market has already been tight due to force majeures by Westlake due to Hurricane Laura and by Formosa on its US supplies on issues after a turnaround in addition to maintenance shutdowns by Formosa and Taiyo in Taiwan and Japan respectively.
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