BASF and Lanxess Announce Price Hikes! ExxonMobil Commissions Third Advanced Recycling Unit

International News Highlights

Raw Material News - ExxonMobil Commissions Third Advanced Recycling Unit at Baytown Site

Automotive News - Continental Completes Sale of ContiTech OESL Business

Packaging News - Japan's MAFF Promotes New Policies for Packaging Plastic Recycling

Electronics News - Asahi Kasei: Q3 Profit Attributable to Shareholders JPY 54.341 Billion, Up 42.15% YoY

Medical News - SABIC Showcases at MD&M West 2026! Launches Multiple New Medical-Grade Innovative Materials

Macro News - Trump Says Putin Fulfilled "Energy Ceasefire" Promise

Price Information - Ethylene CFR Northeast Asia at $695/ton, Down $5/ton

International News Details

1. Lanxess to Raise Adipic Acid Prices Globally Due to Rising Costs

Plastmatch has learned that specialty chemicals company Lanxess has announced an immediate price increase for its adipic acid products. The price adjustment will apply globally, with an average increase of €100 per tonne.

The decision is driven by sustained and accumulated cost pressures, including a significant rise in raw material costs. Despite the company's best efforts to absorb cost increases and maintain price stability, this adjustment is a necessary step to ensure the long-term stability and sustainability of supply.

2. ExxonMobil Commissions Third Advanced Recycling Unit at Baytown Site

Plastmatch learned on February 4 that ExxonMobil has recently announced the successful start-up of its third advanced recycling unit at its Baytown production site in Texas. This milestone reflects the company's ongoing commitment to addressing plastic waste and advancing the circular economy.

With the commissioning of this unit, the annual plastic waste processing capacity at the Baytown site has increased to approximately 250 million pounds. ExxonMobil stated that it is progressing with its capacity expansion plan as scheduled, aiming to achieve a total global advanced recycling capacity of approximately 450 million pounds per year across its production sites by the end of 2026.

3. Asahi Kasei: Q3 Profit Attributable to Shareholders JPY 54.341 Billion, Up 42.15% YoY

According to Hong Kong's Wind Information, Asahi Kasei's Q3 fiscal 2026 report shows a profit attributable to shareholders of JPY 54.341 billion, a year-on-year increase of 42.15%; total revenue reached JPY 774.895 billion, up 0.78% year-on-year.

The company operates primarily in the chemical sector and has seven business divisions. The Chemicals division provides petrochemical products, functional films, and functional resins. The Textiles division offers synthetic textiles and nonwovens. The Housing division engages in housing development, sales, renovation, and real estate transactions. The Construction Materials division provides aerated lightweight concrete and high-performance insulation materials. The Electronics division manufactures and sells electronic materials and components. The Pharmaceuticals & Medical division offers drugs and medical devices, including artificial kidneys, blood purifiers, leukocyte removal filters, and virus removal filters. Additionally, the company is involved in the design, construction, and maintenance of industrial facilities.

4. SABIC Showcases at MD&M West 2026! Launches Multiple New Medical-Grade Innovative Materials

Saudi Basic Industries Corporation (SABIC) exhibited medical-grade thermoplastic materials at MD&M West 2026, designed to address challenges in performance, regulatory compliance, and manufacturing for applications including drug delivery, patient monitoring, and surgical procedures.

At the event, SABIC launched a new series of polycarbonate (PC) copolymers certified to UL746G standards, as well as a new generation of biocompatible SILTEM™ HU resin—a material poised to replace fluoropolymers in medical catheter applications. The company also showcased its multi-dimensional solutions, offering support in plastic design, prototyping, testing, and processing to help global customers accelerate the development of medical product applications.

5. Japan's MAFF Promotes New Policies for Packaging Plastic Recycling

Japan has recently taken a crucial step in plastic recycling for packaging. The disclosure of relevant policy developments signals changes for Japan's domestic industry and provides a useful reference for China's progress in the plastic recycling sector.

Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) released a public presentation by a government task force focusing on the flow of plastic containers and packaging resources in the food industry. This indicates that Japan's policy efforts will continue to advance and explore effective pathways to optimize plastic recycling before circular economy requirements are fully integrated into packaging design and recycling.

The disclosed content provides a clearer picture of how future regulations may impact packaging design, recycled content obligations, and compliance planning, offering guidance for Japan's related industries to prepare in advance.

6. New Breakthrough in Peripheral Vascular Devices! Junkosha Launches Multiple High-Performance Etched PTFE Catheter Liners

Junkosha made a significant splash at the MD&M West exhibition in Anaheim, California, USA this week, launching several new etched polytetrafluoroethylene (PTFE) catheter liners to meet the evolving application demands of the peripheral vascular market.

Among the new products, Junkosha introduced etched PTFE catheter liners with an inner diameter of up to 0.2 inches (5 mm), supporting the R&D and design of large-diameter device delivery systems. Concurrently, Junkosha showcased core products at Booth 1867 in the Anaheim Convention Center, including thin-wall etched PTFE catheter liners (wall thickness as thin as 0.00075 inches / 19 microns) and peelable heat-shrink tubing.

7. BASF Raises TDI Prices in Asia Pacific (Excluding Mainland China) and MEAF Regions

On February 4, BASF announced an immediate price increase (or as contract terms allow) for Lupranate® TDI (Toluene Diisocyanate) in the Asia Pacific region (excluding Mainland China) and the MEAF (Middle East, Africa, and Australia) region, with a hike of $200 per tonne.

This adjustment is a necessary measure to ensure business sustainability, considering the continued rise in transportation, energy, and regulatory costs.

8. Invista Signs MoU with Epoch Biodesign to Advance Post-Consumer Recycled Nylon 6,6 Development

On February 4, Invista, a global leader in chemical intermediates, polymers, and fibers across the nylon and polypropylene value chains, announced the signing of a Memorandum of Understanding (MoU) with Epoch Biodesign, a global leader in enzymatic plastic recycling technology. The collaboration aims to drive the development of post-consumer recycled (PCR) nylon 6,6.

The partnership will combine Epoch's AI-designed enzyme recycling technology with Invista's polymerization expertise and global footprint to produce commercial-scale, customer-validated, virgin-quality nylon 6,6. Nylon 6,6 is a critical material in apparel, automotive, and industrial applications, and scalable, customer-ready recycling solutions remain a major industry challenge.

9. Continental Completes Sale of ContiTech OESL Business

Continental has officially completed the sale of its Original Equipment Solutions (OESL) business within the ContiTech division to U.S. private equity firm Regent L.P.

OESL currently employs approximately 14,000 people and generated sales of around €1.7 billion in fiscal 2025. The division specializes in the development and production of hoses, lines, and bearing components for both internal combustion and electric vehicles. Continental and Regent signed the sale agreement in August 2025.

Previously, Continental had announced plans to split its three divisions—Tires, ContiTech, and Automotive—into independent companies. Following this sale and the planned split, ContiTech will focus on becoming a global tire enterprise. The specific financial details of the transaction were not disclosed.

Overseas Macro Market

Senior Iranian Commander: Israel to Be Primary Retaliatory Target if Attacked by U.S.

On February 4 local time, senior Iranian commander Sardar Daghighi publicly stated that if the United States launches a military strike against Iran, Israel will be Iran's primary target. He emphasized that while Iran does not seek war, it is fully prepared to respond to any aggression.

Trump Says Putin Fulfilled "Energy Ceasefire" Promise

U.S. President Donald Trump stated on the 3rd that Russian President Vladimir Putin had fulfilled his promise of a one-week "energy ceasefire" in Ukraine. Responding to questions about Russia resuming strikes on Ukrainian energy infrastructure, Trump said the ceasefire was "from Sunday to Sunday (January 25 to February 1)" and that "the strikes have resumed."

"He (Putin) kept his word on that. It's important, you know, we'll take even a week because it's very, very cold there," Trump said.

Venezuela's Acting President Rodríguez Confirms Phone Calls with U.S. President

On the 3rd local time, marking one month since U.S. military strikes on Venezuela and the detention of President Maduro and his wife, Venezuela's Acting President Delcy Rodríguez delivered a speech, stating that the Venezuelan people had shown great maturity and rationality, consolidating national stability and peace. She also confirmed recent phone calls with U.S. President Donald Trump and U.S. Secretary of State Marco Rubio.

CK Hutchison Launches International Arbitration Over Unconstitutional Ruling on Panama Port Concession

CK Hutchison announced that its subsidiary PPC initiated arbitration proceedings against the Republic of Panama on February 3, 2026, under the applicable concession agreement and ICC Arbitration Rules.

The Board of Directors of CK Hutchison strongly opposes Panama's ruling and corresponding actions, will continue to consult legal advisors, and reserves the right to take further domestic and international legal proceedings.

Report: U.S. May Soon Publish Tariff Hike on South Korea in Federal Register

According to South Korea's Dong-A Ilbo, the U.S. Federal Register is set to publish a notice of increased tariffs on South Korea, while South Korea is persuading the U.S. to delay the hike until its National Assembly passes a special bill on U.S. investment.

Reports indicate the U.S. has finalized a draft notice for publication in the Federal Register, with South Korea and the U.S. negotiating the wording. The U.S. is expected to release a notice soon, stating it may impose a 25% tariff at a future date based on an assessment of the progress of investment projects.

Price Information

RMB/USD Central Parity Rate Rises 75 Pips to 6.9533

The RMB/USD central parity rate was set at 6.9533, up 75 pips; the previous trading day's central parity rate was 6.9608, the official closing price was 6.9362, and the overnight offshore close was 6.9397.

Upstream Raw Material USD Market Prices

Ethylene: CFR Northeast Asia $695/ton (down $5/ton); CFR Southeast Asia $680/ton (stable).

Propylene (Northeast Asia): FOB Korea average $790/ton (stable); CFR China average $835/ton (stable).

North Asia refrigerated cargo CIF: Propane $568-$570/ton; Butane $588-$590/ton.

South China refrigerated cargo CIF (early March arrival): Propane $599-$609/ton; Butane $594-$604/ton.

Taiwan refrigerated cargo CIF: Propane $568-$570/ton; Butane $588-$590/ton.

LLDPE USD Market Prices

Film: $830/ton (CFR Xiamen); Injection molding: $910/ton (CFR Xiamen).

HDPE USD Market Prices

Film: $910/ton (CFR Huangpu); Injection molding: $800/ton (CFR Huangpu); Blow molding: $850/ton (CFR Huangpu); Pipe: $1000/ton (CFR Huangpu).

LDPE USD Market Prices

Film: $1035/ton (CFR Huangpu); Coating: $1240/ton (CFR Huangpu).

PP USD Market Prices

Injection molding: $830/ton (CFR Dongguan); Copolymer: $890/ton (CFR Nansha); Film: $980/ton (CFR Huangpu); Transparent: $1075/ton (CFR Huangpu); Pipe: $1130/ton (CFR Shanghai).