Japan petchems in bid for hike

摘要

Japanese petrochemical producers are to attempt domestic price hikes to compensate for the surge in the cost of naphtha. The efforts are likely to face stiff resistance from customers. And the rise of naphtha to a two-year high early last week of a MoPJ of US307/tonne cfr Japan, has led Idemitsu Petrochemical to predict that it will miss its 2002-03 operating profit target if the high pricess persist until end-March.