Eastern Shenghong Sees Accelerating Reshaping of Global Petrochemical Supply

Eastern Shenghong said at an institutional conference call on August 31 that the global petrochemical and chemical supply landscape is currently undergoing accelerated restructuring. Affected by high raw material and energy prices, as well as aging plant equipment, production capacity in petrochemical regions such as Europe, Japan, and South Korea is in a process of accelerated contraction and closure. At the same time, China is strictly controlling new refining and ethylene capacity and continuing to promote the gradual phase-out of outdated capacity.