Formosa shuts biggest naphtha cracker amid weak downstream margins

Taiwan's Formosa Petrochemical, Asia's top naphtha buyer, has shut the biggest of its three naphtha crackers in Mailiao due to low petrochemical margins, as per a company spokesman. The shutdown of the 1.2 mln tpa cracker could last several weeks. Its other two crackers, with capacities of 1.03 mln tpa and 700,000 tpa respectively, are now operating at 90% capacity as per Dow Jones Newswires.
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