Industry Assesses Impact of Earthquake in Japan

ablaze: Tanks at Cosmo Oil’s Chiba refinery. Chemical producers and consumers in Japan and overseas are assessing the impact on the industry of the devastating earthquake and tsunami that struck the northeast of the country on March 11. Temporary plant closures and reduced capacity utilization, due mainly to infrastructure damage and power outages, are the immediate effects of the disaster, and they have resulted in higher spot prices for certain products. But the longer-term impact, including cleanup and repair costs, and disruptions to overall economic...

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