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Hanwha Solutions headquarters. (Photo = Hanwha Solutions) |
[Alpha Biz= Paul Lee] South Korean petrochemical companies have warned customers of potential force majeure situations as the U.S.–Iran conflict disrupts supplies of naphtha, a key feedstock used in petrochemical production.
Industry leaders LG Chem and Lotte Chemical said they recently sent official notices to customers informing them of the possibility of force majeure that could prevent them from fulfilling product supply contracts.
Hanwha Solutions also said it has alerted some customers about potential supply disruptions after its feedstock supplier Yeochun NCC recently declared force majeure, raising the likelihood of delays in product deliveries.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
