Commodities
Diversification pays off, but price remains high amid ceasefire uncertainty
Chemical makers in Japan have been finding alternative sources for the plastic raw material as conflict drags on in Iran. (Photo by Tomoki Mera)
TOKYO — Japanese companies have made progress in securing alternative sources of naphtha as the de facto closure of the Strait of Hormuz dries up the Middle Eastern supply, with imports in May reaching nearly 80% of levels before the Iran war.