Orange Alert for Naphtha, Base Petrochemicals and Syringes in Middle East War; Expected to Turn Yellow in a Month

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[The Financial News] Supply chains for naphtha and base petrochemicals, which had faced instability because of the Middle East war, are expected to become more stable in a month.
At the 18th State Council meeting and the 6th Emergency Economic Review Meeting on the 28th, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said, "We are managing supply-chain prices item by item, like traffic lights, and they are becoming much more stable."
Naphtha and base petrochemicals are currently at the orange level, but they are expected to shift to yellow in a month. Koo said, "We have secured up to 2.1 million tons of naphtha. Supplies will begin arriving in stages from April, and we have prioritized existing naphtha for urgent needs such as health care and livelihoods. With response measures such as emergency supply-demand adjustments and bans on hoarding and speculative trading, it will move to yellow."
The volume-based waste bags, which are currently at the yellow level, are expected to turn green in a month. Koo said, "For volume-based waste bags, we are shortening the quality inspection period and delivery deadlines, and expanding the production of bags made with recycled materials. As a result, they will switch to green in a month."
Syringes are also expected to move from orange to yellow in a month. Koo said, "People were very concerned about syringes, too, but we first allocated naphtha to them, increased production through special extended work hours, and carried out more special inspections. They are orange now, but they will turn yellow in a month."
The orange-level concrete admixture for ready-mixed concrete is also expected to turn yellow in a month. Koo noted, "We are supplying the raw materials needed for domestic admixture production without disruption, and through the construction-site emergency economic task force, we are checking raw material supply volumes and admixture output. That is why it will turn yellow in a month."
However, asphalt, which is currently at the red level, is expected to remain unchanged. Koo said, "We are responding by adjusting construction schedules and order timing, and by prioritizing supply to sites that need it. We will also continue efforts to secure sufficient volumes."
syj@fnnews.com Seo Young-joon Reporter