Japan’s ethylene production hit a record low in February

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　　Data released on March 25 by the Japan Petroleum Chemical Industry Association showed that the average operating rate of naphtha cracking units in Japan in February was 75.7%, down from 75.8% the previous month and 75.9% during the same period last year. This represents the lowest level since a historical low of 74.8% was recorded in June last year. 　　Market sources say that due to the shortage of naphtha caused by the conflicts in the Middle East, Japan’s naphtha cracking units are operating at reduced capacity, and their utilization rates are likely to fall further in the coming months. 　　About 40% of Japan’s naphtha consumption is imported from the Middle East, while about 20% comes from other regions. Therefore, the worsening situation in the Gulf of Persia and the Middle East at present has drawn significant attention from Japanese industries from the perspective of ensuring the supply of raw materials for petrochemical products. 　　Data shows that Japan’s ethylene production in February dropped by 23% compared to the previous month, falling to 334,200 tons and reaching a record low.