Lotte Chemical, YNCC submit ethylene restructuring plan
Lotte Chemical and YNCC submitted a restructuring plan to integrate Lotte's Yeosu cracker with YNCC.
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Lotte Chemical and YNCC submitted a restructuring plan to integrate Lotte's Yeosu cracker with YNCC.
The South Korean government targets voluntary ethylene capacity closures, though YNCC cracker shutdown details remain unfinalized despite media reports.
YNCC plans to close two cracker units in Yeosu under South Korea's ethylene rationalization plan and form a joint venture with Lotte Chemical.
Middle East military strikes threaten crude and naphtha supplies, forcing Asian petrochemical giants like YNCC and Chandra Asri into force majeure as prices surge. The Strait of Hormuz disruption also
South Korea's Yeochun NCC Co declared force majeure due to naphtha feedstock disruptions from Middle East tensions. Production will run at minimum capacity from March 4 amid Strait of Hormuz delivery