As oil and feedstock prices spike to record levels and hurt margins, Japan's Sumitomo Chemical Co has slashed operating rate at its sole naphtha cracker in eastern Japan by 4%. This makes Sumitomo thee first Japanese firm to rein in operating rates on account of recent sharp rises in naphtha prices that have spiked past an all time high of US$1245/ton.
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Monday, July 07, 2008
Naphtha crackers in Japan embark on reduction in operating rates
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