Overseas news: Kuraray and Wacker Raise Prices; Explosion at One of US's Largest Refineries; Abbott Completes Major Acquisition

Global News Highlights:

Raw Materials News: Global Supply Chains Under Pressure! Wacker Raises Prices for Polymer and Silicone Products

Packaging News: Sulayr × TOMRA Join Forces: Europe’s PET Tray Recycling Enters a New Phase

Automotive News: Average Oil Prices Hit 3-Year High, EV-Related Searches Surge 20% in the U.S.

Healthcare News: $147.8 Billion – Abbott Completes Major Acquisition!

Macro News: Foreign Ministers of Iran and Egypt Hold Talks on Regional Situation

The following are the details of international news：

1. Sulayr × TOMRA Join Forces: Europe’s PET Tray Recycling Enters a New Phase

The European PET packaging recycling sector shows a clear divergence: the "bottle-to-bottle" recycling process for beverage bottles is highly mature, while the recycling of PET food trays remains in its infancy. According to Packaging Europe, PET trays account for approximately a quarter of all PET packaging circulating in the European market, yet their recycling rate is less than 30%. Unlike PET bottles, PET trays lack a dedicated recycling system and typically enter the recovery process mixed with household packaging waste. Furthermore, PET trays are mostly multi-layer composite structures containing various additives or blended with other plastics. This material complexity significantly increases sorting difficulties and poses numerous challenges to producing food-grade recycled materials.

2. Global Supply Chains Under Pressure! Wacker Raises Prices for Polymer and Silicone Products

Wacker Chemie AG (Munich, Germany) has announced a price increase for its polymer dispersions, redispersible polymer powders, and silicone products in North America, effective April 1, 2026. The maximum increase for this adjustment is 10%, aimed at countering what the company describes as "severe global supply chain disruptions and continuously rising raw material and logistics costs."

Wacker stated: "To offset the pressure from increased raw material and freight costs in the region, Wacker must adjust prices for all locally produced dispersions and polymer powder products. Effective April 1, 2026, or as contractually permitted, Wacker will increase prices for polymer dispersions and redispersible polymer powders by up to 10%."

The company also announced last week that its silicone product line will see price increases on the same date.

3. Price Hike! Kuraray Raises Prices for PVOH, EVOH, and Polyamide Resins

Kuraray Co., Ltd. has announced its decision to raise prices for polyvinyl alcohol (PVOH) resins, ethylene-vinyl alcohol copolymer (EVOH) resins, and GENESTAR™ heat-resistant polyamide products.

4. Sumitomo Polymer Composite Materials Company Launches Glass Fiber Reinforced Polypropylene

Sumitomo Polymer Composites has launched THERMOFIL XP, a 30% glass fiber-reinforced polypropylene (PP) material that delivers exceptional performance while significantly reducing molding cycles. This material not only optimizes component production but also enhances the entire value chain from European original equipment manufacturers (OEMs) to end consumers.

5. $147.8 Billion – Abbott Completes Major Acquisition!

A major strategic consolidation has occurred in the global healthcare sector. Abbott (Abbott Laboratories) officially announced yesterday (March 23) the completion of its acquisition of Exact Sciences, a leader in precision oncology. Valued at $210 billion (approximately RMB 147.8 billion), this is the largest mega-merger and acquisition in the medical device sector exceeding $20 billion since Medtronic’s $50 billion acquisition of Covidien in 2015.

Under the agreement, Exact Sciences is now a wholly-owned subsidiary of Abbott, and its stock ceased trading on March 20. Through this acquisition, Abbott combines its global commercial network and operational excellence with Exact Sciences' deep expertise to accelerate the delivery of key tools for early cancer detection and personalized treatment to broader markets. This move rapidly establishes Abbott as a leader in the fast-growing cancer screening and diagnostics field, creating a new giant covering the full lifecycle of cancer management: "early screening – diagnosis – treatment decision – recurrence monitoring."

6. Average Oil Prices Hit 3-Year High, EV-Related Searches Surge 20% in the U.S.

Amid escalating tensions in the Middle East, shipping security through the Strait of Hormuz is threatened. This has driven a sharp rise in international oil prices, pushing gasoline prices higher worldwide and triggering a ripple effect in the automotive market.

According to the latest data from the American Automobile Association (AAA), as of March 22 local time, the U.S. national average gasoline price climbed to $3.94 per gallon (approximately RMB 7.16 per liter), marking a three-year high. Data from automotive platform CarEdge shows that in the three weeks since the military operations began, searches for electric vehicles on its platform have increased by approximately 20%. Industry analysts note that EV search volumes saw an explosive surge within just 48 hours of the conflict's start, indicating extremely acute consumer sensitivity to rising oil prices.

7. Energy Market: Local Officials Close Two Nearby Interstates as a Precautionary Measure

Witnesses in the area reported hearing loud blasts that shook windows. A resident near the site stated the area was filled with a rotten egg smell, indicating the presence of sulfur in the air.

Overseas Macro Markets

Price Information:

The Chinese yuan's central parity rate against the US dollar was set at 6.8943, up 98 basis points; the previous trading day's central parity rate was 6.9041, the official closing price of the previous trading day was 6.9062, and the overnight trading session closed at 6.8795.

[Upstream raw material USD market price]

On March 23, CFR Northeast Asia was USD 1,450 per ton, up USD 50 per ton; CFR Southeast Asia was USD 1,450 per ton, up USD 50 per ton.

Northeast Asia propylene FOB Korea average price rose by $30/ton to $1,180/ton, and CFR China average price rose by $35/ton to $1,235/ton.

North Asian frozen cargo CIF, propane $1050-1060/ton; butane $1050-1060/ton.

China South China FOB price for April, propane 1180-1200 USD/ton; butane 1180-1200 USD/ton.

Taiwan region CIF prices, propane $1050-1060/ton; butane $1050-1060/ton.

[LLDPE USD Price]

Film: 1330 USD/ton (CFR Huangpu)

Injection molding: 1490 USD/ton (CFR Dongguan)

HDPE USD Market Price

Film: 1300 USD/ton (CFR Shekou)

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

Injection molding: USD 1,420 per metric ton (CFR Yantian)

Pipe: No quotation;

[LDPE US Dollar Market Price]

Film: 1480 USD/ton (CFR Dongguan)

Coating: No quotation.

PP USD Market Price

Homopolymer: USD 1,300 per metric ton (CFR Huangpu)

Copolymer: USD 1,335 per metric ton (CFR Huangpu)

Film material: No quotation available;

Transparent: USD 1,430 per metric ton (CFR Huangpu)

Pipe: USD 1,530 per ton (CFR Shanghai).