Polish chemicals producer suspends key product lines
Surging gas prices have forced Poland's largest chemicals company Grupa Azoty to suspend output of nitrogen and reduce ammonia production as projected profitability has suffered, the company announced August 23.
Production of Azoty's nitrogen fertiliser, caprolactam and polyamide 6 production lines ceased on August 22, Azoty stated. It is unclear when the products will be available again.
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A six-month surge in European gas wholesale prices, from €72/MWh on February 22nd to €276/MWh yesterday, has put unsustainable pressure on Azoty's product margins. The driving force behind this price growth has been Russia's significant cuts to gas supply over recent months.