South Korea Prosecutors Investigate Petrochemical Firms Over Suspected Price Collusion; LG Chem and 6 Other Companies Searched
On August 5, the Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office in South Korea conducted search and seizure operations against seven petrochemical companies and related individuals, including LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC, and UNID, as part of an investigation into suspected price-fixing of multiple petrochemical products. Prosecutors suspect that over many years, these companies engaged in prior consultations on price increases for eight categories of products, including PVC, plasticizers, caustic soda, and hydrochloric acid. Earlier, in May this year, the Korea Fair Trade Commission had already uncovered clues of the alleged collusion and launched an on-site investigation.
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2026-08-05 14:26:38
South Korea Prosecutors Investigate Petrochemical Firms Over Suspected Price Collusion; LG Chem and 6 Other Companies Searched
On August 5, the Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office in South Korea conducted search and seizure operations against seven petrochemical companies and related individuals, including LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC, and UNID, as part of an investigation into suspected price-fixing of multiple petrochemical products. Prosecutors suspect that over many years, these companies engaged in prior consultations on price increases for eight categories of products, including PVC, plasticizers, caustic soda, and hydrochloric acid. Earlier, in May this year, the Korea Fair Trade Commission had already uncovered clues of the alleged collusion and launched an on-site investigation. -
2026-08-05 11:35:37
Energy Chemicals Market Under Pressure
By the midday close, most actively traded domestic futures contracts were higher. Platinum rose more than 7%, palladium more than 6%, Shanghai silver more than 5%, urea more than 4%, and coking coal more than 3%, while Shanghai lead and coke both gained more than 2%. On the downside, the EC freight index (Europe route) fell more than 9%, SC crude oil more than 6%, ethylene glycol (EG), pure benzene, and styrene (EB) more than 5%, bottle-grade PET nearly 5%, and paraxylene and liquefied petroleum gas (LPG) more than 4%. -
2026-08-04 11:50:29
Lianyungang petrochemical ps price increase
On August 4, it was reported that Lianyungang Petrochemical (Satellite) raised the ex-factory price of PS by 100 yuan, with a quote of 9,300 yuan/ton for 525, 9,300 yuan/ton for 535T, 9,300 yuan/ton for 535M, 9,600 yuan/ton for modified benzene 88, and 10,000 yuan/ton for 888. The production capacity is 400,000 tons. Prices are for self-pickup and are negotiable for each order. -
2026-08-04 11:49:26
Cnooc south china abs price cut announced
Reported on August 4: PetroChina South China lowered ABS prices by RMB 200/ton. Jieyang 0215A was listed at RMB 9,900/ton, 0215H at RMB 9,900/ton, 0215E at RMB 9,900/ton, HF681 at RMB 9,900/ton, and 2437 at RMB 9,100/ton. PetroChina’s Daqing Petrochemical ABS plant has an annual production capacity of 300,000 tons, while the (Jilin Petrochemical) Jieyang ABS plant has an annual production capacity of 600,000 tons. -
2026-08-04 11:48:38
Sinopec East China ABS Listed Price Lowered
Reported on August 4: Sinopec East China ABS prices were listed down by 200 yuan/ton, with 0215A at 9,800 yuan/ton, GE150 at 9,800 yuan/ton, Jieyang 0215A listed at 9,800 yuan/ton, and 750ASQ listed at 9,800 yuan/ton. PetroChina's Daqing Petrochemical ABS plant has a capacity of 300,000 tons per year, and Jilin Petrochemical ABS plant has a capacity of 1.2 million tons per year.
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