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Japans production woes to nudge up prices of selected petrochemical products in Asia

April 05/2011

(ICIS) -- Japans production woes in the wake of the 11 March disaster have nudged up prices of selected petrochemical products in Asia over the past three weeks and will likely continue to influence regional trades going forward, industry sources said on Tuesday.

Widespread damage to logistics infrastructure in the northeastern part of the country, and the consequent shortage of electricity as Japan grapples with a nuclear crisis in quake-hit Fukushima prevents domestic industrial plants, including petrochemical facilities, from running at full tilt.

Supply from Japan has been falling and regional demand is being beefed up as the country needed to compete for imported material, creating strong upward pressure on product prices.

Most petrochemical plants in Kashima, which was near the epicentre of the 9.0-magnitude quake that triggered a massive tsunami, have remained shut, while others in the surrounding areas are gradually restarting operations.

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