Ineos Nova: Polystyrene Production to Be Decreased
Ineos Nova, a joint venture of Ineos and Nova Chemicals, will cut its European Production by 30 % in October in order to balance its supply and demand of polystyrene. The demand of polystyrene has continued to be significantly lower than expected and the outlook remains uncertain.
In September, margins have reached a record low and are unsustainable. Ineos Nova announced it aims to immediately restore acceptable margins to its European polystyrene business in October and will endeavour to retain a significant part of the styrene monomer contract price drop, from September to October.
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