Mitsubushi Chemical Group (4188 JT) cuts ethylene output at its Ibaraki plant citing closure of Strait of Hormuz
Mitsubishi Chemical Group's decision to cut ethylene output at its Ibaraki plant highlights supply chain disruptions stemming from the closure of the Strait of Hormuz.
UAE says its air defences are currently responding to incoming missile and drone threats from Iran
Israel conducts raid on Kfar Kila in southern Lebanon
Mitsubushi Chemical Group (4188 JT) cuts ethylene output at its Ibaraki plant citing closure of Strait of Hormuz
G7 is to discuss a joint release of emergency oil reserves in an emergency meeting on Monday, according to FT; call at 08:30 EDT (12:30 GMT)
Sumitomo Rubber (5110 JT) is to cut costs and hike prices to offset crude impact, while it sees several billion yen profit hit if crude is at USD 100, according to Nikkei
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This move signals potential tightening in the ethylene market, which could lead to upward pressure on prices and implications for downstream products. Traders should monitor oil prices and chemical sector reactions, as this situation may accentuate existing supply concerns in the region.
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