On the previous working day (March 12), the domestic PC market in China traded sideways. International crude oil and upstream products along the value chain rebounded slightly, partially recovering from earlier declines. Consequently, although profit-taking activities persisted in the market, no significant downward movement emerged, and market sentiment stabilized, with quotations for certain grades rising modestly. Outlook for today: Profit-taking continues to be digested; macroeconomic and upstream market developments remain volatile, leading participants to adopt a wait-and-see stance and trade on a just-in-time basis. The domestic PC market is thus expected to trade sideways today.

The morning session saw all commodities decline, with the main contract of ethylene glycol down more than 9%, PX and PTA main contracts down more than 5%, and the bottle-grade PET main contract down more than 4%.

Overseas market news indicates that GNFC’s TDI plant located in Dahej, Gujarat, India, was temporarily shut down on March 5, 2026, due to technical issues; the resumption date remains pending further updates.

On March 5, Dow Europe GmbH announced an increase in its polyether prices.PolyolProduct Pricing: Effective immediately, or as permitted under the terms of the contract, the Company will increase the price of all polyether polyol products sold in Europe, the Middle East, Africa, and India (EMEAI) by EUR 100 per metric ton (or the equivalent in local currency). This adjustment follows the previously announced price increase of EUR 100 per metric ton on February 27, 2026. Dow states that this price adjustment is primarily driven by evolving conditions in the Middle East, which have led to significant increases in energy, raw material, and logistics costs.

On March 5, Dow announced an increase.MDIProduct Pricing: Effective immediately or as permitted under contractual terms, the Company will increase prices for MDI products in the European region by EUR 200 per metric ton. Additionally, for MDI products sold in the India, Middle East & Africa (IMEA) region, the Company will implement a price increase of USD 300 per metric ton (or the equivalent in local currency). Dow states that this price adjustment is primarily driven by the evolving situation in the Middle East, which has led to significant increases in energy, raw material, and logistics costs, thereby raising MDI production and supply costs.

An investor asked on the investor interaction platform: With the significant increase in the cost of pure benzene as a raw material, will it affect the company's performance? On March 4th, Hengshen New Materials (000782.SZ) responded on the investor interaction platform that the main raw material for the company's nylon 6 chip is caprolactam. Pure benzene is not the company's raw material, but rather the raw material for the upstream industry. From the perspective of the petrochemical industry chain, an increase in the price of upstream raw materials usually leads to a price increase in the downstream and terminal products. However, the transmission mechanism is influenced by complex factors such as market supply and demand and competitive landscape, making it difficult to predict simply. For specific subsequent operating performance, please pay attention to the relevant announcements disclosed by the company.

On February 23, 2026, the Executive Management Committee of the Brazilian Foreign Trade Commission (GECEX) issued Resolution No. 858 of 2026, concluding the public interest assessment procedure for anti-dumping measures on polyether polyols originating from China and the United States, with a molecular weight between 300 and 4500 g/mol and a purity of no less than 90%, including mixtures of polyether polyols with a concentration of no less than 90%. The anti-dumping measures on the products from these two countries will not be suspended or adjusted. The HS code for the involved product in MERCOSUR is 3907.29.39. The resolution shall take effect from the date of publication.

According to Xinhua News Agency, German Chancellor Friedrich Merz, who is visiting China, led a delegation to visit Unitree Robotics in Hangzhou, Zhejiang on the afternoon of the 26th. According to the itinerary, Merz and his delegation will also visit German companies in China. Merz is on an official visit to China from the 25th to the 26th, accompanied by about 30 top executives from leading German companies in sectors such as automotive, chemicals, biopharmaceuticals, mechanical manufacturing, and circular economy, fully demonstrating Germany's strong willingness to deepen practical cooperation with China. According to China News Service, Wang Xingxing, CEO of Unitree Robotics, expressed his profound honor in an interview, stating that this event serves as a window for establishing broader cooperation with more German enterprises and presents an opportunity to jointly advance the intelligent robotics industry globally. He noted that the German market holds tremendous potential and expressed confidence that the robust development trend of the intelligent robotics and AI industries would greatly benefit both the industry’s growth and humanity as a whole.  

On February 25, 2026, BASF announced that, effective immediately or as permitted by contract terms, the price of Lupranate® MDI (Methylene Diphenyl Diisocyanate) base products in the ASEAN region will be increased by 200 USD per ton. BASF stated that this price adjustment is due to the continued rise in raw material costs.

华东聚酯瓶片收于6360元/吨，涨跌值160元/吨，假期内，油价大涨。成本驱动下聚酯瓶片工厂报价多上调100-130元/吨，重心随之上扬。随着原料价格上调，早间低价货源消失，2-3月货源报盘6300-6450元/吨，递盘6300-6320元/吨或期货合约2604升水95100。下游零星递盘，交投清淡。

To strengthen expectations guidance and industry self-regulation, the China Petroleum and Chemical Industry Federation organized relevant professional associations and consulting agencies to analyze and assess the current capacity, output, apparent consumption, imports and exports, planned and under-construction capacity, and the capacity and market demand five years from now for some chemical raw materials and new chemical materials. The results show that 15 products face the risk of market oversupply. Among them: propylene oxide, epichlorohydrin, acrylonitrile, polyvinyl chloride, chlorinated paraffin, polysiloxane, acrylonitrile-butadiene-styrene terpolymer (ABS), poly(butylene adipate-co-terephthalate) (PBAT), polyether polyols, 1,4-butanediol (BDO), nylon 66, and vinyl acetate are 12 products classified as high-risk; polypropylene, soda ash, and titanium dioxide are 3 products classified as relatively high-risk.

According to the China Trade Remedy Information Network, on February 10, 2026, the U.S. Department of Commerce issued an announcement regarding the third affirmative final determination of the antidumping sunset review on polyethylene terephthalate (PET) film imported from China and the United Arab Emirates. The Department ruled that the revocation of the existing antidumping duties would likely lead to the continuation or recurrence of dumping of the subject products from China at a dumping margin of 76.72%, and from the United Arab Emirates at a dumping margin of 4.05%. The U.S. Harmonized Tariff Schedule (HTSUS) number for the products involved is 3920.62.00.90.

Overseas market news: BASF's TDI plant in Korea is scheduled for a planned maintenance shutdown from February 25 to March 15, 2026. The plant has an annual capacity of approximately 160,000 tons.

According to a Hong Kong Wind News report, Teijin announced its Q3 FY2026 financial results for the period ending December 31, 2025, showing total revenue of ¥659.878 billion, a year-on-year decrease of 12.73%. The loss attributable to shareholders was ¥58.97 billion, compared to a profit of ¥50.98 billion in the same period last year, representing a shift from profit to loss. The company is primarily engaged in the manufacturing, processing, and sale of chemical products. The Advanced Fibers and Composites segment is involved in the manufacturing and sale of aramid fibers (such as yarns, staple fibers, and woven or knitted fabrics), carbon fiber products, and polyester fibers (industrial materials). The Electronic Materials and Chemicals segment deals with the manufacturing and sale of films, resins, and resin products. The Healthcare segment is involved in the pharmaceutical business and the sale of pharmaceuticals and home medical equipment, as well as the clinical development of new drugs. The Product Processing segment is engaged in the planning, processing, and sale of textile products. The Other segments include the operation, development, and maintenance of information systems, and the provision of printing services. As of March 31, 2025, the company had 129 consolidated subsidiaries and 24 equity-method associates.

Junkosha is showcasing a range of new etched PTFE liner tubing products at MD&M West in Anaheim, California this week, designed to meet the evolving application demands of the peripheral vascular market. Among the new products, Junkosha has launched etched PTFE liner tubing with an inner diameter of up to 0.2 inches (5 mm), facilitating the research and development of large-bore device delivery systems.

Domestic Chemical IndustryNew Materials Gelatin Industry LeadersGuoen Technology(42.4, 6.40, 17.78%)(Stock Code: 02768.HK) successfully listed on the Main Board of the Hong Kong Stock Exchange today, demonstrating a strong performance on its debut. The stock opened at HK$45, a 25% increase from its offer price of HK$36.0 per share. Excluding handling fees, each board lot of 200 shares could yield a profit of HK$1,800. Its grey market performance the previous trading day was even more active, closing up 36.11% to HK$49 on Futu's grey market, with a profit of HK$2,600 per board lot.

Recently, the 410,000-ton/year carbonate combined unit of Fujian Baihong Chemical Co., Ltd., designed by Guangzhou Engineering Company, was successfully commissioned in one attempt and produced qualified products. The 410,000-ton/year carbonate combined unit is a part of Baihong Chemical...New Materials The main core production units of the project primarily include a 50,000 tons/year ethylene carbonate unit, a 140,000 tons/year propylene carbonate unit, a 100,000 tons/year dimethyl carbonate unit, a 120,000 tons/year ethyl methyl carbonate and diethyl carbonate unit, an ethanol dehydration unit, and supporting auxiliary systems. The main products of the plant are high-purity lithium-ion battery electrolytes, including ethylene carbonate, propylene carbonate, dimethyl carbonate, ethyl methyl carbonate, and diethyl carbonate, as well as the production of some chemical raw materials, industrial solvents, and green chemicals.

Guoen Shares announced that the final offer price for its H-share issuance has been set at HK$36.00 per share. The company's H-shares are scheduled to be listed and commence trading on the Main Board of the Hong Kong Stock Exchange on February 4, 2026 (today). Previously, on May 25, 2025, Guoen Co., Ltd. announced that the company had approved the proposal to issue H-shares and list them on the Main Board of the Hong Kong Stock Exchange. The company plans to build an international capital operation platform and accelerate the construction of a dual circulation development pattern, both domestic and international, by issuing overseas listed foreign shares (H-shares).

As of February 2, production and sales data for January 2026 have been successively disclosed by major domestic automakers. The overall market presents a distinct pattern where "traditional self-owned brands lead strongly while new forces generally face pressure." Leading automakers such as SAIC, Geely, and Chery achieved year-on-year sales growth of over 20%, with the rankings of domestic brands undergoing a restructuring driven by differences in New Energy Vehicle (NEV) and export performance. Meanwhile, nine mainstream emerging EV makers experienced a collective month-on-month decline. Industry analysis indicates that while short-term policy transitions and off-season effects have disrupted terminal markets, the core competitiveness of domestic automakers continues to improve. The "Matthew Effect" among new forces is intensifying, yet the long-term logic of high-quality industry development remains unchanged.

Qi Xiang Tengda recently stated during a targeted investor survey that the company is continuously exploring new downstream application scenarios for its products, such as the use of methyl ethyl ketone (MEK) in electronic cleaning, maleic anhydride in new environmentally friendly building materials, high-purity anhydrous tert-butanol in semiconductor photoresist diluents, and propylene oxide in new energy vehicle seat filling materials. Simultaneously, the company is advancing key technology breakthroughs through independent research and development, as well as collaboration with research institutes and universities, to accelerate the transformation of scientific and technological achievements into practical applications. Currently, leveraging the advantages of its existing MMA products, the company is steadily extending into downstream high-performance resin materials such as PMMA. It has already initiated small-scale PMMA technology cooperation with research institutes and will subsequently promote pilot-scale and industrialization research.