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Malaysia’s Lotte Titan to shut No. 1 naphtha cracker amid margin pressures
13 Dec 2024 Lotte Chemical Titan announced on 13 December 2024 that it will temporarily shut down its No. 1 naphtha cracker due to severe margin erosion amid a prolonged downturn in the petrochemical industry.
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11 Dec 2024

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Vietnam’s Hyosung Vina Chemical to shut PP plants for maintenance in early 2025

This development comes amid a wave of planned shutdowns across Southeast Asia in early 2025. Other significant facilities set to go offline include Long Son Petrochemical and JG Summit Petrochemical.
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04 Dec 2024

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South Korea’s Lotte Chemical suspends key Yeosu operations amid financial struggles

This move is part of a broader strategy to mitigate financial losses. In the third quarter of 2024 alone, the company reported an operating loss of 413.6 billion won, bringing total operating losses for the year to 660 billion won.
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04 Dec 2024

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Inner Mongolia Baofeng hits snag in launching new PP, PE plants in China

Inner Mongolia Baofeng Coal-Based New Materials has temporarily halted operations at its newly constructed coal-based PP and PE plants due to technical setbacks encountered during the initial startup phase.
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04 Dec 2024

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China’s Tianjin Bohua to commence operations at new vinyl plants in 2H2025

The CNY 6 billion project also incorporates advanced features, including a dedicated laboratory and an in-house fire control system, underscoring the company’s commitment to safety and innovation.
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21 Nov 2024

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Malaysia’s Lotte Chemical Titan shut part of PP and PE plants for unscheduled maintenance

The company has reported losses for 10 consecutive quarters, with a net loss of RM246.42 million recorded in the third quarter ending September 30, 2024 (3QFY2024). In its filing to Bursa Malaysia, the company projected its annual operating rate to stabilize between 55% and 60% for FY2024.
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20 Nov 2024

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South Korea’s Hyosung to shut PP plants for scheduled maintenance

The maintenance shutdown, originally scheduled for November, was postponed due to a substantial backlog of orders. As the South Korean plant going off-stream, Hyosung is said to rely on its sister facility in Vietnam to partially fulfill contract obligations.
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15 Nov 2024

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China set to launch eight new PE complexes in the coming quarters

As of this report, two LDPE/EVA swing plants owned by Xinjiang Tianli and Jiangsu Sailboat have reached stable operating rates following their startup in October 2024. Both units are currently producing LDPE.
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