Leading petrochemical producer of Japan, Mitsubishi Chemical Corp has decided to cut production at three of its naphtha crackers due to weak demand for petrochemical products.
Official sources from the company informed Fibre2fashion that the total production capacity of the three crackers amounts to 1300 tons and it would be slashed by 10 to 15 percent beginning from September 1 till the end of this year.
It was also confirmed that a thorough market study would be conducted with emphasis on the conditions and demand for the products and only then would the company start operation with its full potential from the beginning of next year.
When asked about the impact of production cut on regular customers, the company official noted that the adverse effects cannot be foreseen at this juncture.
Fibre2fashion News Desk - India
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