Versalis declared force majeure (FM) in September on ABS according to a letter sent to clients after it suffered a “breakdown of a furnace”.
The event took place on 15 September, and the company said the FM will last for a period of one month.
This event places more pressure on European ABS availability which is already very tight.
The acrylonitrile butadiene styrene (ABS) market in Europe has been tight for months.
The shortages have been a result of exceptional good demand, low imports, and plant issues.
Buyers will unlikely see a price reduction before the end of the year, and there is more of a chance that prices will increase due to the shortages.