| Mobile Web

Search results for naphtha

Industry

Yeocheon NCC raises naphtha cracker utilisation to 65 percent

Yeocheon NCC has raised the operating rate of its naphtha cracking plant to 65 percent from 60 percent, the company said on Sunday. It cited improved conditions for stabilising supply and demand, after the government introduced a subsidy policy to support naphtha purchases and a financial support system was also put in place. The company’s utilisation fell to 55 percent last month amid higher feedstock prices and supply uncertainty linked to a prolonged Middle East situation.

Economy

Naphtha up 68 percent, ethylene up 61 percent as March producer prices post biggest rise in 4 years

South Korea’s producer prices rose at their fastest pace in nearly four years in March as international oil prices surged in the aftermath of the Iran war. The producer price index climbed 1.6 percent from February to 125.24, the biggest monthly rise since April 2022, and extended gains for a seventh straight month. Oil products and chemical items jumped, while farm and fisheries products fell and services were flat.

Industry

President Lee Jae-myung urges turning crisis into opportunity, stresses sovereign wealth fund and manufacturing sovereignty

South Korean President Lee Jae-myung said a supply chain crisis triggered by the Middle East war should be used as an opportunity for industrial restructuring and stressed the creation of a Korean-style sovereign wealth fund. He warned that the global trade order is at a major turning point as free trade retreats and geopolitical risks deepen. Lee also urged government-led demand creation through public procurement and protection of advanced technology and talent.