finally some signs that will benefit LCTitan which is using naptha as their feedstock - (1) South Korea’s 10 largest petrochemical companies have agreed to restructure their operations, including up to 25% cuts to their naphtha-cracking capacity, as the government called for rigorous restructuring to save the bleeding sector from total collapse and (2) the Chinese government is set to launch a sweeping overhaul of its petrochemicals and oil refining sector, phasing out smaller facilities and targeting outdated operations for upgrades, while redirecting investment to advanced materials. Under the measures proposed, petrochemicals facilities over 20 years old, or about 40 per cent of the country’s total, will need retrofitting to increase their yields, according to the sources. Plants will also be encouraged to shift to speciality fine chemicals, rather than bulk materials already threatened by oversupply, they said.