【Overseas Highlights】Dow chemical raises prices; hanwha total announces force majeure; japanese import car market sees first increase in seven years

News Digest

Raw Material NewsHanwha Daelim declares force majeure on xylene supply

Packaging News-Trelleborg Group launches new manufacturing facility project in India

Auto News: Japan's Imported Car Market Sees First Increase in Seven Years

Exhibition News-Mitsubishi Chemical (MGC) will exhibit high-performance plastic products at the 2026 China International Rubber and Plastics Exhibition.

Macro News-Iranian media: US-made communication equipment in Iran collectively "failed" during the attack in central Iran

Price Information-The RMB-to-US dollar central parity rate hit a new high since March 24, 2023.

Here are the details of the international news:

Hanwha Total announces force majeure on paraxylene supply.

According to a customer letter obtained by S&P Global Energy's Platts, Hanwha Total Petrochemicals has declared a force majeure on its paraxylene (PX) products effective from April 13.

The company's production base in Daesan, South Korea, has two production lines with annual capacities of 1.2 million tons and 760,000 tons, respectively. A Korean document dated April 13th, after translation, states: "Since late February, armed conflicts and hostile actions have continued in the Middle East, causing serious disruptions to maritime logistics passing through the Strait of Hormuz. The above situation is beyond our reasonable control and has significantly affected the supply and/or delivery of raw materials required for production."

2. Mitsubishi Chemical (MGC) will showcase high-performance plastic products at Chinaplas 2026.

Mitsubishi Chemical Corporation (MGC) will jointly exhibit with its group subsidiaries engaged in engineering plastics business at the event held in Shanghai, China, from April 21 to 24, 2026.2026 China International Rubber and Plastics Exhibition (CHINAPLAS 2026)。

At this exhibition, Mitsubishi Chemical Corporation and its group subsidiaries — Global Polyoxymethylene Co., Ltd., Korea Polyoxymethylene Co., Ltd., and Mitsubishi Engineering-Plastics Corporation — will showcase high-performance plastic new products and new technologies for applications in the automotive, electronic and electrical components, food, and medical fields.

In addition, the company will introduce its recycling project: producing materials from carbon dioxide, waste plastics, and biomass.Circulating methanol, used as raw material for the production of engineering plastics.

3. Thyssenkrupp Group launches new manufacturing base project in India

Trelleborg Group, through its specialist subsidiary Trelleborg Sealing Solutions, has announced the establishment of a cutting-edge manufacturing facility in Bangalore, India. This greenfield project is a significant expansion initiative aimed at increasing the company's production capacity by approximately 30%. The site, spanning around 50,000 square meters (540,000 square feet), is expected to be completed by 2027. For the first time, the facility will centralize all business operations, including manufacturing, R&D, testing laboratories, application engineering, a customer solutions center, supply chain management, and global IT services.

Terpoly entered Bangalore in 2005, establishing its first production facility to provide high-performance sealing solutions for domestic and international markets. Over the past two decades, the company has achieved steady and sustainable growth in India, driven by strong engineering capabilities, localization strategy, growing market demand, close customer collaboration, and India's rising position in the global supply chain. The new facility covers an area of 30,000 square meters (323,000 square feet) and is equipped with advanced manufacturing technologies. Its products include PTFE components, rotating shaft seals, mechanical face seals, and polyurethane sealing solutions, serving various industries worldwide. This project positions Terpoly among the few multinational companies that can offer a full range of sealing products to both local and global customers in India.

4.Xaloy Acquires Italy's Maxi Melt, Strengthening European Plastics Components Business Layout

Polymer processing equipment manufacturer Xaloy acquired Maxi Melt, an Italian company based in Casalpusterlengo, specializing in plasticizing components for extrusion and injection molding.

Headquartered in Austintown, Ohio, Xaloy stated that the acquisition expands its capabilities in the field of plasticizing components and further strengthens its position in customer markets by integrating strengths in engineering, materials, and application technologies. Xaloy also has a global presence with operations in Germany, Japan, Thailand, and China.

Japan's imported car market sees its first increase in seven years.

The Japan Automobile Importers Association (JAIA) announced on April 15 that the sales of imported cars (excluding those from Japanese manufacturers) in the 2025 fiscal year increased by 3% to 238,081 units, marking the first growth in 7 years.

Beneath the surface of modest overall growth, a structural transformation driven by electrification is quietly unfolding: German giants Mercedes-Benz and BMW have both declined, while BYD has surged into Japanese consumers' view with a doubling of its growth rate.

6. Dow Chemical announces price increase!

Dow Chemical announced a new price increase, with polyethylene (PE) resins in the North American market set to rise by 30 cents per pound in April and an additional 20 cents per pound in May. According to one seller, the latest increase means that polyethylene prices have more than doubled compared to before the outbreak of the Iran war.

7. South Korea Implements Emergency Control Measures on Petrochemical Raw Material Stockpiling, Elevating Supply Chain Risks to the National Security Level

The South Korean government announced an emergency measure prohibiting stockpiling of seven key petrochemical raw materials—including ethylene, propylene, butadiene, benzene, toluene, and xylene—from April 15 to June 30. Under this measure, relevant enterprises’ inventories must not exceed 180% of their year-on-year levels. The introduction of this urgent regulatory measure signifies that the impact of the Middle East geopolitical conflict on the global chemical supply chain has escalated from price volatility to supply chain stability concerns.

Overseas Macro Market

Report: An Iranian oil tanker broke through the U.S. Navy's blockade.

According to the semi-official Iranian news agency Fars, an Iranian oil tanker, under U.S. sanctions, broke through the U.S. Navy's blockade, crossing the Strait of Hormuz from international waters and entering Iranian waters. The report stated that the vessel is a very large crude carrier capable of transporting 2 million barrels of crude oil, without revealing its specific name. The tanker kept its positioning system on and arrived at its destination without any interference.

[US Senate Democratic Leader: Mandate Weekly Votes to Restrict Trump's "War Powers"]

U.S. Senate Democratic Leader Chuck Schumer stated on the 14th that the Senate Democrats would force a vote weekly to restrict President Trump’s “war powers.” Schumer said: “If Republicans fail to act, Senate Democrats will force this issue forward. Starting this week, we will bring a war powers resolution to a vote. If Republicans block it, we will vote on it again and again.”

Senate Democratic Leader Schumer: The war against Iran was an epic failure.

[Israeli media: Israel may use negotiations to buy time against Hezbollah]

Regarding the trilateral talks held on the 14th among the United States, Israel, and Lebanon, some public opinion holds that Israeli Prime Minister Netanyahu may be using the negotiations to buy time for the Israeli military to intensify its strikes against Lebanon’s Hezbollah. Several sources interviewed by Israel’s Haaretz newspaper assessed that Netanyahu agreed to the talks partly to “demonstrate goodwill” toward the U.S. government and partly to delay further military action against Hezbollah. Although the U.S. hopes the parties can go beyond the 2024 ceasefire agreement and reach a “comprehensive peace agreement,” many believe the negotiations are unlikely to yield results.

[Iranian media: During the attack in central Iran, the country's U.S.-made communication equipment collectively "failed"]

According to a report by Iran’s Fars News Agency on the 14th, during the attack on Isfahan Province in central Iran, a large number of U.S.-made communication devices inside Iran suddenly malfunctioned, with their operating systems crashing. The report stated that all the faulty communication devices were from U.S. brands, including Cisco, Fortinet, and Juniper.

[Pakistan Receives $3 Billion Funding Commitment from Saudi Arabia to Help Offset Impact of Repaying UAE Loans]

Pakistan stated that it has received $3 billion in financial support from Saudi Arabia, which will help bolster Pakistan’s foreign exchange reserves and offset the impact of the country’s upcoming loan repayment to the United Arab Emirates (UAE). Pakistan’s Finance Minister said Saudi Arabia has pledged additional funds, “expected to be disbursed within the coming week.” Furthermore, Saudi Arabia has extended the maturity of its existing $5 billion deposit. Previously, Pakistan failed to reach an agreement with the UAE on the rollover of approximately $3 billion in debt—the first such failure in seven years.

Ten countries call for an immediate halt to all hostilities in Lebanon.

Canada, Brazil, the United Kingdom, and eight other countries issued a joint statement on the 14th, expressing deep concern over the deteriorating humanitarian situation in Lebanon and calling for an immediate cessation of all hostilities. Signed by Canada, Brazil, Australia, Colombia, Indonesia, Japan, Jordan, Sierra Leone, Switzerland, and the United Kingdom, the statement underscores the imperative to respect and protect humanitarian personnel working to assist the most vulnerable populations and to end attacks against them.

[Trump: War with Iran 'close to ending' as Iran 'desperately' wants a deal]

On the 14th, Trump was interviewed by Fox News anchor Maria Bartiromo. Bartiromo asked why he kept saying "the war is over." Trump replied, "I feel that (the conflict with Iran) is nearly over. Yes, I mean, I think it's very close to being over."

Price Information:

The RMB/USD central parity rate hits a new high since March 24, 2023.

The central parity rate of the RMB against the US dollar is 6.8582, an 11-point increase; the previous trading day's central parity rate was 6.8593, the official closing price of the previous trading day was 6.8164, and the overnight session closed at 6.8156.

Upstream Raw Material USD Market Price

On April 14, CFR Northeast Asia ethylene was stable at $1,425/ton, and CFR Southeast Asia was stable at $1,475/ton.

The Northeast Asian propylene FOB Korea average price rose to $1,330/ton, an increase of $20/ton, and the CFR China average price rose to $1,345/ton, an increase of $30/ton.

North Asia CFR prices: propane at $932–938/ton; butane at $1,032–1,038/ton.

China South China Cryogenic Cargo May CFR prices: propane at USD 991–1001/ton; butane at USD 1041–1051/ton.

Taiwan region CIF prices, propane $932-938/ton; butane $1032-1038/ton.

[LLDPE US dollar market price]

Film: USD 1,380 per metric ton (CFR Huangpu)

Injection Molding: 1500 USD/ton (CFR Shanghai);

[HDPE USD Market Price]

Film: 1460 USD/ton (CFR Huangpu)

Hollow: 1380 USD/ton (CFR Dongguan)

Injection molding: 1420 USD/ton (CFR Yantian);

Pipe: No quotation;

[LDPE US dollar market price]

Film: 1600 USD/ton (CFR Dongguan);

Coating: No quotation.

PP USD Market Price

Homopolymer: USD 1,460 per metric ton (CFR Huangpu)

Copolymer: USD 1,700 per metric ton (CFR Huangpu)

Film grade: USD 1,710 per metric ton (CFR Huangpu)

Transparent: 1620 USD/ton (CFR Huangpu)