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SM production curtailed by LG Chemical

LG Chemical has cut down its SM production due to slack in demand. The production has been slashed significantly due to negative production margins. The company expects to maintain operating rates at its Daesan unit at 70pc until the end of March. The next decision will be whether to maintain output at a reduced rate or lift production, depending on the coronavirus situation and SM demand. The outbreak has spread to South Korea with derivative and SM operating rates sliding. LG Chemical also manages a 500,000 t/yr unit in Yeosu that is operating normally.