US polypropylene maker ConocoPhillips has declared force majeure (FM) on its copylene impact copolymers deliveries in August and September, as per Platts. An equipment breakdown coupled with feedstock shortages has caused the supply constraints. The company anticipated it would resume normal operations sometime during September. Specific details on the equipment breakdowns were not available. The company will be unable to make up for volumes not delivered during August and September.
PP supplies continue to remain tight in USA this week with a potential for a price hike in September.