BASF Raises Prices, Nova Chemicals Expands Recycled PE Line, South Korea and UAE Sign 35 Billion Memorandum

International News Briefing:

Raw Material News-BASF announces price increase in ASEAN regionMDI product prices

-MG became the first Chinese automobile brand to achieve over one million sales in Europe.

Electronic News-Nova Chemicals Capacity Expansion and RegenerationPE product line, strengthening film-grade recycled material business

-P&G seeks to drive growth with plastic-free laundry innovation: Tide launches laundry bars across the United States

Medical News-Coveris and SABIC Join Forces to Create a New Circular Economy Model for Medical Plastics

Macro News-Iran's Foreign Ministry: Current Iran-U.S. talks focus on nuclear issues

The following are details of international news headlines.：

1、BASF announces price increases in the ASEAN regionMDI product price

On February 25, 2026, BASF announced that effective immediately or as permitted by contract terms, it will increase the prices of the base products of Lupranate® MDI (methylene diphenyl diisocyanate) in the ASEAN region by 200 USD/ton.BASF stated that this price adjustment is due to the continued rise in raw material costs.

2、Nova Chemicals expansion and regenerationPE Product Line, Strengthening Film-grade Recycled Material Business

Nova ChemicalsNova Chemicals has added two new recycled polyethylene (rPE) resins to its Syndigo product line. Both products are produced using 100% post-consumer recycled (PCR) film. The commercially available rPE-IN3 and rPE-IN4 grades are designed for general-purpose non-food applications in North America, further strengthening the company's film-to-film mechanical recycling platform. This recycled linear low-density polyethylene (rLLDPE) resin is suitable for a variety of applications, including trash bags, protective packaging, shopping bags, stretch film, shrink film, and heavy-duty packaging bags.

3、Coveris and SABIC join forces to create a new model for a circular economy in medical plastics

Coveris and SABIC recently collaborated on a joint project that successfully demonstrated the feasibility of closed-loop recycling for medical packaging. By integrating the expertise of healthcare providers, material producers, and packaging manufacturers, the project proved that uncontaminated hospital plastic waste can be transformed into new, contact-sensitive medical packaging. The initiative aims to establish a comprehensive circular system: collecting medical packaging waste, chemically recycling it, and reintroducing it into the medical supply chain—marking a significant step toward sustainability in this highly regulated industry.

4、Waters completes the acquisition ofBD Biomedical and Diagnostic Business Acquisition Drives Steady Growth in 2025 Performance

Waters Corporation(NYSE: WAT) recently announced its financial results for the fourth quarter and full year ended December 31, 2025. The report showed solid sales growth for both the fourth quarter and the full year of 2025. On the same day, the company announced the completion of its acquisition of BD’s Biosciences and Diagnostic Solutions businesses and issued an optimistic outlook for fiscal year 2026 based on its new integrated organizational structure.

5、MG becomes the first Chinese automotive brand to surpass one million cumulative sales in Europe.

As a brand under SAIC Motor Group, MG will...MG has reached a historic milestone by becoming the first Chinese automaker to break the one-million-vehicle sales mark in the European and UK markets, consolidating its position as the leading Chinese brand in Europe for the 11th consecutive time. Its best-selling model in Europe is the ZS SUV, with a total of 424,000 units sold across Europe. Since the brand's relaunch in 2011, MG's sales in Europe have exceeded one million units. After being acquired by SAIC Group, the MG6 was launched in the UK, marking the brand's official return to the European market.

6、P&G seeks growth through plastic-free laundry innovation: Tide launches laundry sheets nationwide across the U.S.

P&G in Colorado on Tide laundry detergent podsTide evo) underwent nearly two years of testing before being launched nationwide in the U.S. in February 2026. Tide introduced this entirely new product format to meet the daily laundry needs and preferences of modern consumers. To support the company's sustainable packaging goals, the fiber bricks are designed to be durable and do not require additional plastic packaging materials, such as the shrink wrap around the cardboard.

Overseas Macro Market Information:

[Iran's Foreign Ministry: This round of Iran-US talks focuses on the nuclear issue] Iranian Foreign Ministry Spokesperson Baghaei, local time

South Korea and UAE sign agreement[MOU on $35 Billion Defense Cooperation] South Korean President’s Special Envoy Kang Hoon-sik stated on Thursday that South Korea and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MOU) to advance defense cooperation valued at over $35 billion. Kang Hoon-sik, Director of the Presidential Secretariat, disclosed to reporters upon his return from the UAE that these defense projects will cover areas including air defense, air force, and navy.

Iran's president reiterates that Iran will not develop nuclear weapons. Local timeOn the 26th, Iranian President Pezeshkian stated that Trump claimed Iran must declare it will not possess nuclear weapons, whereas in fact Iran has repeatedly made such a declaration. Iran’s Supreme Leader has also addressed this issue, affirming that Iran will not pursue nuclear weapons.

Zelenskyy says repairs"Friendship" pipeline "won't be fixed that quickly," said Ukrainian President Zelenskyy on the 25th, despite protests from Hungary and other countries, as well as demands from the EU. Moreover, according to information released by Ukraine on the 25th, Ukraine has submitted a letter to the expert group meeting of the European Commission responsible for energy issues, stating that "the ultimatums and political pressure from certain member states are unacceptable," and once again blamed Russia for the interruption of oil supply.

【SK hynix and SanDisk Launch Global Standardization Process for Next-Generation Memory “HBF” SK hynix announced that, on the 25th local time, it jointly hosted the “HBF Specification Standardization Alliance Launch Event” with SanDisk at SanDisk’s headquarters in Milpitas, California, USA, officially unveiling the global standardization strategy for HBF (High Bandwidth Flash), a next-generation memory solution targeting the AI inference era.

Price Information:

The central parity rate of the RMB against the US dollar is reported as6.9228, up 93 points; the previous trading day's central parity rate was 6.9321, the official closing price at 16:30 of the previous trading day was 6.8672, and the overnight session closed at 6.8592.

[Upstream Raw Material USD Market Price]

CFR Northeast Asia steady at $695/ton, CFR Southeast Asia steady at $685/ton

Northeast Asia PropyleneFOB Korea average price stable at $790/ton, CFR China average price stable at $835/ton

North Asia CIF Price for Frozen Cargo, Propane$597–599 per ton; butane $597–599 per ton

South China Frozen GoodsPropane CFR March: 616-626 USD/ton; Butane CFR March: 615-621 USD/ton

Taiwan region CIF price, propane$597–599/ton; butane $597–599/ton

【LLDPE USD price market

Film820 USD/ton (CFR Shanghai);

Injection molding: Translate the above content into English, and output the translation directly without any explanation.$925/ton (CFR Huangpu)

【HDPE USD market price

Film$910-920/ton (CFR Huangpu)

Hollow$858-1040/ton (CFR Huangpu)

Injection Molding: No quotation;

Pipe materials: No quotation available;

【LDPE USD Market Price

Thin filmUSD 1,060 per metric ton (CFR Dongguan)

Coating: No quotation.

【PP USD Market Price

Homopolymerization:840-900 USD/ton (CFR Huangpu)

CopolymerizationUSD 1,020 per metric ton CFR Nansha

Membrane material:USD 1,020 per metric ton (CFR Huangpu)

Transparency1070-1120 USD/ton (CFR Huangpu)

Pipe material:1130 USD per ton (CFR Shanghai)