【Overseas Highlights】Yemen's Houthi Threatens to Block the Strait of Bab-el-Mandeb! Celanese Announces Full-Line Price Increase for Engineering Plastics

International News Highlights:

Raw Materials News - Celanese announced price increases for engineering materials products effective April 1.

Auto News - SABIC Unveils New Automotive Polycarbonate Copolymer with Up to 45% PCR at PIAE 2026

Medical News - Closed Loop Partners Releases Report: Plastic Medicine Bottle Recycling Sees Systematic Solutions

Macro News - Yemen's Houthis Say They May Block the Bab al-Mandeb Strait

Price Information – The central parity rate of RMB against the US dollar hits a new high since April 25, 2023.

The following is a summary of international news.

1. Breaking the Bottleneck of Hard-to-Recycle Plastics! Plastic Energy and TotalEnergies Launch Advanced Recycling Plant in France

UK's Plastic Energy and France's TotalEnergies have jointly announced the official start of operations at their advanced plastic recycling plant, TEPEAR (TotalEnergies Plastic Energy Advanced Recycling). Located at TotalEnergies' zero crude platform in Grandpuits, outside Paris, the plant has an annual processing capacity of 15,000 tons. It utilizes Plastic Energy's patented advanced recycling technology to convert hard-to-recycle plastics into circular feedstock for the production of new plastics.

2. Up to 45% PCR Material! SABIC's New Automotive Polycarbonate Copolymer Launches at PIAE 2026

At the 2026 International Automotive Plastics Innovation Exhibition (PIAE 2026) in Germany, Saudi Basic Industries Corporation (SABIC) introduced a new LNP™ ELCRIN™ SLX series of composite materials based on post-consumer recycled (PCR) content, as well as a new LNP KONDUIT™ WTF2C composite material that aids in thermal management for advanced driver assistance system (ADAS) components. The newly launched LNP™ ELCRIN™ SLX2373RCC and SLX2375RCC composite materials contain 30% and 45% PCR content, respectively. Both materials offer excellent weather resistance and impact resistance, which can extend the service life of high-gloss in-mold colored parts, thereby avoiding volatile emissions from painting processes, and facilitating recyclability at the end of product life. At the exhibition, shark fin antennas and heated ADAS radar covers made from these materials were also displayed.

3. Closed Loop Partners Releases Report: Systemic Solution Emerges for Recycling Plastic Medicine Bottles

The Center for the Circular Economy at Closed Loop Partners today released new research aimed at advancing the recycling and circular reuse of prescription medication bottles. Drawing on the Center’s proven expertise in optimizing packaging systems for commonly used products to reduce environmental impact while creating value, this report uses data-driven analysis to examine circular economy opportunities for prescription medication bottles—a widely used type of plastic packaging.

Midland Industries Acquires ISM, Expanding Its Product Portfolio for Medical and Plastic Industrial Applications

A metal and plastic industrial pipe, valve, and fittings distribution and manufacturing company headquartered in Kansas City, Missouri, has acquired a distributor and assembler of pneumatic, vacuum, and fluid circuit components based in Englewood, Colorado. This transaction expands the acquirer's product portfolio and strengthens its position in the original equipment manufacturer (OEM) channel. Midland Industries, a portfolio company of Gemspring Capital, announced today the acquisition of Industrial Specialties Manufacturing LLC (ISM). The financial terms of the transaction were not disclosed.

Hungarian Borsodchem announced an increase in the price of all MDI products by 500 euros per ton.

On March 19, BorsodChem, a Hungarian chemical company, announced a price increase of EUR 500 per ton for all MDI products, effective immediately or as permitted by contractual terms. This price adjustment is attributed to the recent developments in the Middle East situation, leading to substantial increases in European natural gas and other raw material costs. Although the company is responding responsibly to this situation, it is unable to absorb the continuously rising costs. BorsodChem will continue to closely monitor developments and may further adjust prices if necessary.

Celanese announced that the prices of its engineering material products will increase starting from April 1st.

Recently, Celanese, a global specialty materials and chemicals company, announced that it will increase prices for a range of engineering materials due to recent market developments and global supply chain disruptions, among other factors. Despite the rapidly changing market environment, Celanese will continue to provide strong support to its customers through its regional supply chains, production facilities, and technology and innovation centers. The price increases will take effect on April 1, 2026, or as otherwise stipulated in individual contracts. Additionally, price increases for certain grades may exceed those outlined below.

7. Clariant, Norsk Hydro and the Norwegian Institute for Technology and Industry successfully validated an advanced pyrolysis oil upgrading technology for plastic recycling.

On March 19, Clariant, a specialty chemicals company focused on sustainability, announced that it has successfully completed a joint pilot project in collaboration with Borealis, a leading provider of advanced and circular polyolefin solutions, and SINTEF, one of Europe's largest independent research organizations. This cooperation successfully validated Clariant's pyrolysis oil upgrading technology, marking a significant milestone in advancing circular economy solutions for the plastics industry.

Overseas Macro Market

Trump said that an additional $200 billion in military spending is just a small price to pay.

On March 19 local time, regarding the Pentagon's plan to seek an additional $200 billion budget from the U.S. Congress, a reporter asked President Trump why he previously said the war with Iran "was about to end," but now is asking for more military funding. Trump explained, "In a world full of unrest, the U.S. needs to have sufficient military equipment, especially ammunition — especially after Biden 'stupidly' gave away a lot of equipment." Trump insisted that the U.S. has "a large, very big, unlimited" military stockpile, but "even if not needed, we need to stockpile," therefore, "to keep the U.S. at the top," the additional $200 billion in military funding is just "a small cost."

Israeli military strikes targets in southern Syria

The Israel Defense Forces (IDF) issued a statement on the 20th stating that it had struck military infrastructure associated with Syria’s transitional government in southern Syria on that day. The statement said the IDF’s targets included a military command center and an arms depot located in southern Syria. The IDF claimed the strike was in response to an attack on Druze civilians in southern Syria on the 19th.

UN: Middle East Conflict Causes Significant Economic Losses in the Arab Region

The United Nations Economic and Social Commission for Western Asia (UNESCAP) released a brief on March 19 stating that the Middle East conflict has caused significant economic losses across the entire Arab region. If the conflict lasts for a month, the losses could rise to nearly $150 billion, accounting for 3.7% of the region's GDP.

Iran’s Revolutionary Guards say missile production is “completely worry-free.”

According to Fars News Agency on the 20th, the spokesperson of the Islamic Revolutionary Guard Corps said that Iran's missile industry "will get a perfect score," and "there is no concern in this regard." The spokesperson said, "Even in a state of war, we are producing missiles, which is amazing, and there are no special issues in terms of reserves."

Deutsche Bank: expects the European Central Bank to raise interest rates by 25 basis points in June and September 2026.

Deutsche Bank expects the European Central Bank to raise interest rates by 25 basis points in June and September 2026, revising its previous forecast that rates would remain unchanged in 2026. If the situation in the Middle East improves quickly, the European Central Bank might not raise interest rates at all. Conversely, if there are more persistent disruptions to energy supplies, a 2.50% interest rate could just be a transitional phase into a clearly restrictive territory.

South Korea’s government has formulated a response plan for a complete disruption of liquefied natural gas (LNG) imports from Qatar.

A related official from South Korea’s Ministry of Trade, Industry and Energy stated on the 20th that, amid heightened concerns over potential disruptions to domestic natural gas supplies following attacks on Qatar’s liquefied natural gas (LNG) facilities, the South Korean government has formulated an emergency contingency plan for a complete interruption of LNG imports from Qatar; according to this plan, domestic natural gas supply will remain unaffected.

Israeli Prime Minister Denies Dragging the U.S. into War

Israeli Prime Minister Netanyahu denied the claim that "Israel is dragging the United States into a war with Iran" during a press conference on the evening of March 19 local time. Netanyahu also asked, "Does anyone really think they can tell (President Trump) what to do?" However, when asked by reporters, "Without the United States, can Israel continue this war?" Netanyahu refused to answer.

Yemen's Houthi rebels say they might block the Bab el-Mandeb Strait.

According to RIA Novosti on the 20th, Mohammed Buhaiti, a member of the political bureau of Yemen's Houthi movement, stated that the group might block the Bab el-Mandeb Strait in support of Iran. Buhaiti told RIA Novosti that the Houthis are considering all possible options to support Iran in resisting military strikes by the United States and Israel. If forced to close the Bab el-Mandeb Strait, the Houthis would target only vessels belonging to countries involved in attacks against Iran, Iraq, Lebanon, and Palestine.

Price Information:

The central parity rate of the RMB against the US dollar has reached its highest level since April 25, 2023.

The central parity rate of the RMB against the US dollar was set at 6.8898, up by 77 basis points; the previous trading day’s central parity rate was 6.8975, the previous trading day’s official closing rate was 6.9013, and the overnight session closed at 6.8873.

[Upstream raw material USD market price]

On March 19, CFR Northeast Asia increased by $70/ton to $1,350/ton, and CFR Southeast Asia also increased by $70/ton to $1,350/ton.

Northeast Asia propylene FOB Korea average price rose by $30/ton to $1,110/ton; CFR China average price rose by $30/ton to $1,135/ton.

North Asian CIF price for frozen cargo, propane 1121-1131 USD/ton; butane 1121-1131 USD/ton.

China South China FOB price for April, propane 1025-1035 USD/ton; butane 1020-1030 USD/ton.

Liquefied propane FOB Taiwan: 1121-1131 USD/ton; liquefied butane FOB Taiwan: 1121-1131 USD/ton.

[LLDPE USD Price]

Film: USD 1,300/ton (CFR Huangpu);

Injection molding: USD 1,490 per metric ton (CFR Dongguan)

[HDPE USD Market Price]

Film: USD 1,300 per metric ton (CFR Shekou)

Hollow: $1300/ton (CFR Huangpu)

Injection molding: No quotation available.

Pipe: No quotation;

LDPE USD price market

Film: USD 1,480 per metric ton (CFR Dongguan)

Coating: No quotation.

PP USD Market Price

Homopolymer: USD 1,270 per metric ton (CFR Huangpu)

Copolymer: 1300 USD/ton (CFR Huangpu)

Film material: No quotation;

Transparent: USD 1,420/ton (CFR Huangpu);

Pipe: 1480 USD/ton (CFR Shanghai)