Formosa Chemicals & Fibre's (TPE:1326) consolidated operating revenue in November slumped 23% annually to NT$20.9 billion, according to a Monday Taiwan Exchange filing.
The decline reflected lower sales of phenol, polystyrene (PS), acrylonitrile butadiene styrene (ABS), polypropylene (PP), olefins (OX) and raffinate oil, as well as reduced volumes at First Chemicals & Nitrogen Business (FCNB) and other units amid weaker demand and competition from new mainland China capacity.
Monthly, revenue dropped 5.7% from October, with a NT$1.54 billion decline in sales volume driven by weaker margins and lower output.
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