Hanwha Total Petrochemical has cut down its TDP production by 6% since November. There has been curtail in the production in most of the aromatic products like Para Xylene and SM. The other major petrochemical manufacturing units like GS Caltex will also reduce operations at its TDP unit by 10pc from December. This follows moves by Japan's JXTG, South Korea's Lotte Chemical and Hyundai Cosmo Petrochemical — a joint venture between South Korea's Hyundai Oilbank and Japan's Cosmo Oil — to cut PX production earlier this year.Japan's Taiyo Oil and Hanwha Total have already reduced their SM operating rates, in response to production losses. Further SM production cuts are expected in the new year, likely reducing benzene demand.
