Overseas News Highlights: Major Reversal! Iranian Military Says It Has Not Blocked the Strait of Hormuz! BASF, Dow, Polyplastics Announce Price Hikes!

International News Briefs

Raw Materials News: BASF, Dow, Polyplastics-Evonik Announce Collective Price Increases!

Automotive News: Honda Plans to Import Cars from China and the U.S. to Boost Domestic Sales in Japan

Packaging News: 25% Weight Reduction! Colgate-Palmolive Develops Innovative HDPE Bottle Technology

Other News: Adidas Launches New Mass-Produced 3D-Printed Sneakers CLIMACOOL LACED

Macro News: Senior Iranian Military Official Says Strait of Hormuz Has Not Been Blocked

Price Information: The central parity rate of the RMB against the US dollar is 6.9007, up 117 pips

Details of International News

Evonik Achieves 2025 Financial Guidance and Confirms 2026 Earnings Outlook

On March 4, Evonik Industries announced that it had met its 2025 financial guidance and reaffirmed its 2026 earnings outlook. Final results for the 2025 fiscal year confirmed preliminary data released on February 5: adjusted EBITDA reached €1.87 billion, broadly in line with the previous forecast of around €1.9 billion. The company expects adjusted EBITDA to be between €1.7 billion and €2.0 billion in 2026.

Evonik also confirmed other key financial indicators: 2025 sales fell 7% year-on-year to €14.1 billion; free cash flow amounted to €695 million (compared with €873 million in 2024), with a cash conversion rate of 37%, at the upper end of the 30%–40% target range; net income rose to €265 million (from €222 million in 2024).

BASF to Raise Prices for Plastic Additives

On March 4, BASF announced a global price increase for its antioxidants, processing stabilizers, and light stabilizers for plastic applications, with a maximum increase of 20%. The adjustment is mainly driven by sharp rises in key raw material costs, inflationary impacts on fixed costs, and higher freight rates.

Fibrant, a Subsidiary of China’s Hengshen Group, Shuts Down Caprolactam Plant in Geleen, Netherlands

On March 3, a spokesperson for Fibrant revealed that the company had closed its caprolactam plant in Geleen, Netherlands. The move will take around 135,000 tonnes per year of European caprolactam capacity offline. The plant uses a phenol-based route to produce caprolactam, with ammonium sulfate as a by-product.

Fibrant first announced the permanent closure of the Geleen caprolactam plant in a statement on October 21, 2025. Founded in 1952 when it opened its first caprolactam plant in the Netherlands, Fibrant is now a subsidiary of China’s Hengshen Group — the world’s largest producer of caprolactam and ammonium sulfate, with production bases in the Netherlands and China (Fujian and Nanjing).

Japan’s Zeon Starts Construction of New COP Plant, Raising Capacity by 30% to Strengthen Global Supply of High-End Materials

Recently, Japan’s Zeon Corporation held a groundbreaking ceremony for a new cycloolefin polymer (COP) plant in Yuka-Cho Industrial Park, Shunan City, Yamaguchi Prefecture, marking the official start of capacity expansion for its high-end functional materials.

The project will break ground in March 2026 and be completed and put into operation in the first half of fiscal 2028. Once operational, Zeon’s annual COP capacity will increase by approximately 30% to meet growing demand from the optics, medical, and semiconductor industries.

Adidas Launches New Mass-Produced 3D-Printed Sneakers CLIMACOOL LACED

Adidas recently unveiled the all-new CLIMACOOL LACED sneakers in an all-white colorway, featuring the brand’s signature three stripes and laces. As the latest result of Adidas’ innovative manufacturing process, the shoes deliver enhanced 360° breathability to a new level.

First launched in limited quantities in 2024, the 3D-printed sneakers are now widely available for everyday comfort off the pitch.

25% Weight Reduction! Colgate-Palmolive Develops Innovative HDPE Bottle Technology

Colgate-Palmolive, Polyplastics Co., Ltd., and PTI have jointly launched an innovative HDPE bottle production process that reduces both bottle weight and production cycle by 25%.

The new technology adapts the injection stretch blow molding (ISBM) process commonly used for PET bottles to produce lightweight, heat-resistant HDPE containers. By adding TOPAS® COC (cyclic olefin copolymer), an ethylene-based copolymer produced by Polyplastics, the companies have significantly widened HDPE’s processing window, making ISBM practical and efficient while maintaining recyclability.

Dow Announces Price Hikes

On March 3, Dow’s Consumer Solutions Division notified Greater China partners of upcoming price increases. The division focuses on silicone technologies, including products such as dimethyl silicone oil, D4, linear body, raw rubber, vinyl silicone oil, 107 rubber, and drum rubber.

Effective March 27, 2026 (or as permitted by contract), Dow will implement a new round of price adjustments with expected increases of 5%–15%. Specific adjustments for individual products will be communicated by Dow sales representatives.

Honda Plans to Import Cars from China and the U.S. to Boost Domestic Sales in Japan

On March 5, Japanese automaker Honda Motor Co., Ltd. announced plans to strengthen its domestic product lineup by importing vehicles from the United States and China for sale in Japan, amid widening losses in its automotive business.

After posting an operating loss of ¥166.4 billion (approximately $1.1 billion) in its automotive business for the first nine months of the fiscal year, Honda is re-evaluating its strategy to improve competitiveness.

Polyplastics-Evonik Announces Price Increases for Polyamide and PEEK Resins

According to Plastmatch, Polyplastics-Evonik will implement price adjustments across its product portfolio starting April 1, 2026.

The company stated that it could no longer absorb cost pressures from the dual impacts of yen depreciation and rising raw material costs, making the price adjustments necessary. The increases cover two major product categories: polyamide resins and polyetheretherketone (PEEK) resins.

Affected products include DAIAMID®, VESTAMID®, VESTOSINT®, VESTAMELT®, TROGAMID®, VESTENAMER®, and VESTAKEEP®. The company will issue detailed price notifications to customers.

Overseas Macro Markets

Israel Plans to Reopen Airspace on March 8

Israeli Transport Minister Miri Regev announced that Israel will reopen its airspace for outbound flights starting Sunday, March 8, subject to security developments.

Iran Says It Hit a U.S. Oil Tanker in the Northern Persian Gulf

On March 5, Iran’s Islamic Revolutionary Guard Corps (IRGC) stated that its naval fighter jets struck a U.S. oil tanker in the northern Persian Gulf early that morning, and the tanker was on fire.

Australian Prime Minister: Military Assets Deployed in the Middle East

On March 5, Australian Prime Minister Anthony Albanese confirmed that Australia had deployed military assets in the Middle East, along with six crisis response teams to assist stranded Australians.

Iranian, Turkish Foreign Ministers Hold Phone Call

Iranian Foreign Minister Araghchi and Turkish Foreign Minister Fidan spoke by phone on March 5, emphasizing that Iran would respond to the U.S. and Israel with maximum force. Iranian President Pezeshkian also stated that Iran had sought diplomatic solutions but was left with no choice but self-defense due to U.S. and Israeli aggression.

IRGC: Military and Commercial Vessels of U.S., Israel, EU and Their Allies Prohibited from Strait of Hormuz

On the morning of March 5, the IRGC said it had struck a U.S. oil tanker in the northern Persian Gulf, which remained ablaze. It stated that Iran would control navigation rules in the Strait of Hormuz during wartime in accordance with international laws and resolutions, and that all relevant military and commercial vessels were prohibited from passing through the strait and would be targeted if detected.

Senior Iranian Military Official Says Strait of Hormuz Has Not Been Blocked

On the morning of March 5, Amir Heydari, Deputy Commander of Iran’s Khatam al-Anbiya Central Headquarters, stated in an interview that Iran had not blocked the Strait of Hormuz and was processing vessels in accordance with international rules and agreements.

Price Information

The central parity rate of the RMB against the U.S. dollar was 6.9007, up 117 pips from the previous session (6.9124). The previous official close was 6.9120, and the overnight close was 6.8951.

U.S. Dollar-Denominated Upstream Raw Material Prices (March 4)

CFR Northeast Asia: $800/ton (+$20)

CFR Southeast Asia: $770/ton (+$10)

FOB South Korea Propylene: $850/ton (+$30)

CFR China Propylene: $890/ton (+$10)

North Asia Frozen Cargo CIF: Propane $779–781/ton; Butane $779–781/ton

South China Frozen Cargo (Early April arrival): Propane $836–846/ton; Butane $831–841/ton

Taiwan Frozen Cargo CIF: Propane $779–781/ton; Butane $779–781/ton

U.S. Dollar-Denominated PE & PP Prices

LLDPE: Film $900/ton (CFR Shanghai); Injection $1080/ton (CFR Huangpu)

HDPE: Film $1060/ton (CFR Huangpu); Blow Molding $950/ton (CFR Huangpu)

LDPE: Film $1160/ton (CFR Dongguan)

PP: Homopolymer $975/ton (CFR Huangpu); Copolymer $1010/ton (CFR Nansha); Film $1120/ton (CFR Huangpu); Transparent $1185/ton (CFR Huangpu); Pipe $1200/ton (CFR Shanghai)