IHS Chemical Week

Chemical Week Magazine :: Basic Chemicals & Plastics

BP declares force majeure on PTA after fire at Cooper River, SC, facility

6:22 AM MDT | August 29, 2014 | —Clay Boswell

BP declared force majeure on purified terephthalic acid (PTA) in North America after a fire on 9 August forced the company to shut down the PTA-1 production unit at its Cooper River, SC, facility. The outage has tightened the market for downstream product polyethylene terephthalate (PET) at a time when supply normally exceeds demand, says IHS Chemical’s Market Advisory Service: Global PET Stream Weekly. Customers report allocation levels of about 70% and say they are hopeful that relief may come by October, but they are short on specifics, says Chase...

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