Asian polyolefin markets face an abrupt supply contraction heading into the fourth quarter after South Korea’s H&L Advanced declared an emergency shutdown (ESD) at its core Daesan Naphtha Cracker Complex (NCC) on 15 September, halting global and regional supply indefinitely.
Operating through its local entity, PT STL Chemical Indonesia, the Shenzhen-listed producer has established project command operations within the Manyar industrial corridor, adjacent to the Java Integrated Industrial and Ports Estate (JIIPE).