Japan flips to net importer of petrochemicals on naphtha price surge

CommoditiesHormuz closure makes domestic production more expensiveImporting petrochemicals instead of producing them from naphtha makes it easier to adjust procurement to meet downstream demand. (Photo by Nikkei)MOMOKA MATSUMOTOJuly 24, 2026 05:28 JSTTOKYO -- Japanese imports of basic petrochemicals used in products such as plastics have surged, with purchases from China and South Korea becoming more economical as the Iran war disrupts supplies of crude oil-derived naphtha.