South Korean petrochemical company Ycheon NCC has declared force majeure on supplies, as it cannot receive raw materials due to the closure of the Strait of Hormuz. This has led to a reduction in production.
South Korean petrochemical company Ycheon NCC has reduced production and declared force majeure on its supplies due to its inability to receive raw naphtha material due to the closure of the Strait of Hormuz, according to a source and a company letter seen by Reuters.
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