【Overseas Highlights】Iran Earns 24 Million Dollars Daily From Oil, Kuwait Port Attacked, South Korea Restricts Petrochemical Exports

International News Summary:

Raw Materials News: Toray Industries of Japan to Introduce a Surcharge Mechanism for Certain Products, Including Resins and Carbon Fiber

Headlines - As oil prices rise, sales soar, bringing unexpected benefits to the European used electric vehicle market

News: ALPLA Establishes a Factory in Calamba City, Philippines, to Expand Packaging Solutions

Medical News - Formacoat Launches HydroMark, Breaking the Industry Monopoly Pattern

Exhibition News – Yizumi Showcases Innovative Solutions at the Mexico Plastics Industry Exhibition to Accelerate Expansion into the Latin American Market

Macro News -The central parity rate of the Chinese yuan against the US dollar was set at 6.9141, down by 85 pips.

Price InformationRussian Foreign Minister: The U.S. seeks to control the global energy market.

The following is a summary of international news.：

Since the outbreak of the war, Iran has earned an additional $24 million per day from oil sales.

As Iran has become the sole major Middle Eastern oil-exporting country capable of utilizing the Strait of Hormuz, the prices of its exported crude oil have surged, benefiting Iran’s finances.

Unlike all other Gulf oil-producing countries, Iran’s oil is currently still able to transit the Strait of Hormuz smoothly, and its export volume remains robust. Industry estimates indicate that Iran’s crude oil exports this month have held steady at pre-war levels—approximately 1.6 million barrels per day. Tankers carrying Iranian crude continue loading at the Kharg Island terminal and transit the Strait of Hormuz to exit the Persian Gulf—recent shipping activity is even accelerating.

2, Toray of Japan will introduce a surcharge mechanism for certain products, including resins and carbon fibers.

Toray has introduced a “surcharge system” to rapidly reflect fluctuations in raw material costs in product prices. This system applies to resins, carbon fibers, and other products sold globally by the company. Due to the de facto blockade of the Strait of Hormuz, naphtha—a key raw material for the company—has surged sharply in price. Under this system, rapid market price changes can be reflected in product prices in as little as one month, thereby mitigating impacts on production and financial performance.

Following military conflicts between the United States and Israel with Iran, raw material prices rose, prompting Toray to introduce this system as a temporary measure. It primarily applies to three major business segments: functional chemicals, such as films and resins used in manufacturing processes; carbon fiber businesses for aircraft and other applications; and fiber businesses for industrial and apparel uses.

3. The mandatory acquisition price for Covestro's minority shareholders has been set at €59.46.

Coatings announced that XRG PJSC, based in Abu Dhabi, UAE, has formally submitted a mandatory acquisition request under the German Limited Liability Companies Act, determining the cash compensation for the transfer of shares held by minority shareholders of Covestro at 59.46 euros per share. The announcement also disclosed that XRG directly and through its wholly owned indirect subsidiary ADNOC International Germany Holding AG, collectively hold 95.1% of Covestro's share capital (before deducting treasury shares), thereby meeting the conditions of a controlling shareholder to initiate a statutory mandatory acquisition. Covestro further stated that the relevant mandatory acquisition resolution is planned to be submitted to the Annual General Meeting scheduled for May 19, 2026, and the mandatory acquisition will only take effect after the share transfer resolution is registered in the commercial register.

4. Disruption in Medical Device Coatings! Formacoat Launches HydroMark, Breaking Industry Monopoly

As a coating manufacturing supplier for medical device OEMs, Formacoat has over 25 years of experience. Formacoat recently completed a phased transformation and officially entered the field of coating research and development. The company's first milestone achievement is the launch of its self-developed hydrophilic coating, HydroMark.

HydroMark hydrophilic coating, developed through professional research, can achieve stable lubricity, durability, and application adaptability on various medical devices. It is suitable for products ranging from catheters and guidewires to a wide array of film products with simple to complex geometries.

5. ALPLA sets up a plant in Calamba City, Philippines, to expand packaging solutions.

ALPLA has established its first production facility in the Philippines, further expanding its business presence in the Asia-Pacific growth region. The global leader in packaging began producing high-quality plastic bottles and closures in Calamba City starting in summer 2025.

The factory covers an area of 4,800 square meters, integrating production, administration, and logistics functions, and is equipped with advanced technologies, laying a solid foundation for ALPLA's development in the Philippines. Located in the Filinvest Techno Park in Calamba City, this factory marks an important milestone in ALPLA's development. Since 2014, ALPLA started with a factory-in-factory model, producing bottle preforms and bottles directly within a global customer's bottling plant in the Philippines. With the completion of its first self-owned factory, ALPLA will now provide more diversified products and services to customers in the beverage and other industries in the Philippines.

6, AIMPLAS project realizes the conversion of brewery waste into high-performance bioplastics

The EU-funded BioSupPack project has successfully demonstrated that brewery waste can be converted into high-performance bioplastics for sustainable packaging. After five years of R&D, the project consortium developed and validated innovative polyhydroxyalkanoate (PHA, PHB) materials and production processes, which serve as viable alternatives to fossil-based plastics and help companies comply with the EU’s Packaging and Packaging Waste Regulation (PPWR).

7. Yizhimi Launches Innovative Solutions at the Mexico Plastics Industry Exhibition, Accelerating Expansion in the Latin American Market

Yizumi made an appearance in the important Latin American industrial city of Guadalajara, participating in the Mexico Plastic Industry Exhibition (Expo Plásticos). During the exhibition, Yizumi collaborated with its local partner, Grupo Hi-tec, to showcase a range of star models and present multiple cutting-edge molding solutions on-site. Through the dual presentation of products and technology, Yizumi conveyed a clear message of its innovative strength and professional value to the Latin American market.

 

8. The Higher the Oil Price, the Fiercer the Sales: Europe’s Second-Hand EV Market Reaps an Unexpected Windfall

Multiple online car platforms reported that the recent surge in second-hand electric vehicle (EV) sales in Europe is attributable to rising gasoline prices triggered by the Middle East conflict. French online used-car retailer Aramisauto stated that the EV sales share rose from 6.5% to 12.7% within three weeks, while gasoline-powered vehicle sales share declined from 34% to 28%.

Overseas Macroeconomic Market

[Kuwait Reports Drone Attack on Shuwaikh Port Causing Damage] The Kuwaiti Government Communication Center posted on X stating that a drone attack targeted Shuwaikh Port on Friday morning, causing damage. No casualties have been reported. Emergency measures have been activated.

[Russian Foreign Minister: U.S. Seeks Control Over Global Energy Market] Russian Foreign Minister Sergey Lavrov, in an interview with France 2 TV on the evening of March 26, stated that the United States has demonstrated “interest” in dominating the global energy market, with official U.S. documents and statements by government officials explicitly declaring America’s intent to “attain dominance in the global energy market.” Lavrov cited Venezuela as an example—under the pretext of “combating a drug-trafficking regime,” the U.S. ultimately seized control of Venezuela’s oil industry revenues. Iran is another case: U.S. President Donald Trump has, in fact, openly stated his desire to jointly control the Strait of Hormuz and the oil and gas transportation it carries with Iran.

[Israeli military claims strikes on Iranian ballistic missile production facilities and air defense systems] On the morning of March 27, the Israel Defense Forces (IDF) issued a statement stating that Israeli forces had conducted overnight strikes against ballistic missile production facilities and air defense systems inside Iran. The statement noted that, in airstrikes targeting Tehran, Iran’s capital, the IDF struck infrastructure used by Iran for weapons production, focusing on ballistic missile production facilities. It further stated that, in airstrikes targeting western Iran, Israeli forces struck Iranian missile launch sites and storage facilities.

Japan’s ultra-long-term bond yields surged: the 20-year JGB yield rose 10 basis points to 3.22%, the 30-year yield jumped 15 basis points to 3.67%, and the 40-year yield climbed 20 basis points to 3.905%. Earlier in the day, the 2-year yield hit its highest level since 1995.

South Korea is considering imposing restrictions on the export of petrochemical products. Following the recent ban on naphtha exports to stabilize domestic supply and address the Middle East crisis, the government is now reviewing restrictions on products such as ethylene and synthetic resins to support local plastic manufacturers facing raw material shortages.

[Russia Requests Closed-Door UN Security Council Consultations on Iran Issue] Russia on the 26th requested closed-door consultations with the UN Security Council regarding the ongoing attacks on Iran's civilian infrastructure. According to RIA Novosti, the press secretary of the Russian Permanent Mission to the UN, Uspensky, said that the consultations will be held at 17:00 Moscow time (10:00 New York time) on the 27th.

U.S. Treasury Secretary Bowman denied a Financial Times report suggesting that the Bank of England's model could serve as a model for the relationship between the U.S. Treasury and the Federal Reserve. "The Bank of England has a long history and many strengths, but the U.S. has never considered replicating its model across the Atlantic," Bowman said in a statement on X.

Price Information:

The Chinese yuan's central parity against the US dollar was set at 6.9141, down 85 points; the previous trading day's central parity was 6.9056, the official closing price on the previous trading day was 6.9041, and the overnight trading session closed at 6.9101.

Upstream Raw Material USD Market Price

On March 26, CFR Northeast Asia was stable at USD 1,400/ton, and CFR Southeast Asia was stable at USD 1,400/ton.

Northeast Asian propylene FOB Korea averaged at $1,230/ton, stable, while CFR China averaged at $1,270/ton, down $10/ton.

North Asia CFR prices: propane at USD 853–863/ton; butane at USD 853–863/ton.

China South China FOB price for April, propane 1153-1163 USD/ton; butane 1153-1163 USD/ton.

Taiwan region CIF prices, propane $853-863/ton; butane $853-863/ton.

[LLDPE US Dollar Market Price]

Film: 1160 USD/ton (CFR Huangpu)

Injection molding: USD 1,450 per metric ton (CFR Dongguan)

HDPE US Dollar Market Price

Film: No quotation available

Hollow: 1250 USD/ton (CFR Huangpu)

Injection molding: 1420 USD/ton (CFR Yantian)

Pipe: No quotation;

[LDPE US dollar market price]

Film: USD 1,450 per metric ton (CFR Dongguan)

Coating: No quotation available.

[PP USD Market Price]

Homopolymer: USD 1,350 per metric ton (CFR Huangpu)

Copolymer: USD 1,550/ton (CFR Huangpu)

Membrane material: USD 1,560 per metric ton (CFR Huangpu).

Transparent: 1435 USD/ton (CFR Huangpu)

Pipe: USD 1,580/ton (CFR Shanghai).