According to recent reports, South Korea's LG Chemical has announced the shutdown of its Lucel brand polyoxymethylene (POM) production unit starting this month. The facility had a capacity of 15,000 tons per year and was primarily affected by rising utility costs and persistent high oil prices, which have significantly increased operational expenses. Despite this move, LG Chemical has stated that it will continue to ensure the supply of polyoxymethylene compounds under the Lucel brand. To maintain continuity, LG International is expected to source polyoxymethylene from another Korean manufacturer, ensuring that Kolon-brand POM remains available in the market. This strategic adjustment reflects the company's effort to manage costs while maintaining customer support. The decision also highlights the ongoing challenges faced by chemical producers amid volatile energy markets and increasing production pressures.
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