News
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Brazil’s Petrobras to gain equal say in Braskem under deal with IG4-backed funds
SAO PAULO (ICIS)–Petrobras is set to secure equal governance rights in polymers major Braskem under the terms of a binding proposal received from an IG4-backed fund seeking to acquire the stake held by Novonor, the Brazilian state-owned energy major said on Monday. Petrobras said IG4 had committed in a letter dated 19 April to entering into a new shareholders’ agreement with Petrobras for Braskem that would require consensus among the polymers producer’s governance. Braskem’s current capital structure has Novonor as the largest shareholder with a 38.8% stake, but 50.1% of voting capital. Petrobras owns 36.1%, with 47% of the voting rights. “Petrobras also informs that… it received a binding letter through which FIP [IG4-backed investors] undertakes to enter into a new Braskem shareholde... -
ANALYSIS: Japan’s TEPCO KK Unit 6 a lesson for future nuclear restarts
SINGAPORE (ICIS)–Japanese utility Tokyo Electric Power Co (TEPCO) has resumed commercial operations at the Kashiwazaki-Kariwa (KK) nuclear power station Unit 6, a groundbreaking and telling moment in efforts to reduce LNG demand in Japan’s power sector as the country grapples with potential new demand pressures and looks to find new generation sources. TEPCO said on April 16 that it restarted commercial operations at the 1.35GW boiling water reactor after receiving pre-use confirmation and inspection pass certificates from Japan’s Nuclear Regulation Authority (NRA). Commercial generation resumed at 4:00 p.m. local time, marking the first operational nuclear unit at the KK site since 2012 after all nuclear power plants in the country were successively shut in the wake of the TEPCO-operat... -
India’s PVC Demand to Hit 6 Million Tons by 2030, Facing 35% Supply Shortfall
The 13th VinylIndia Exhibition & Conference was held in Mumbai on April 9–10, 2026. Senior executives from India’s DCM Shriram Limited stated that even with new capacity coming online, India will remain long-term dependent on PVC imports. According to Vinoo Mehta, Executive Director and Business Head of DCM Shriram, India’s PVC industry grew at a CAGR of 5.7% between 2020 and 2025. Demand is projected to rise to 6 million tons by 2030. Even with planned new capacity from Reliance Industries and Adani Group scheduled for 2027–2028, India’s total PVC production capacity will only reach around 3.7 million tons by 2030, creating a supply-demand gap of 2.1 million tons—equivalent to a 35% supply shortfall. This deficit will have to be filled by imports. Key Market Highlights PVC plays a... -
Middle East Conflict Disrupts Ethylene Industry; Global Output May Drop by Over 22 Million Tons in 2026
Walter Hart, Global Head of Olefins at S&P Global Energy CERA, stated at the World Petrochemical Conference that a full closure of the Strait of Hormuz would severely impact Asian petrochemical producers. Steam crackers in the Middle East would be forced to shut down, while other Asian plants would scale back operations due to feedstock shortages. Global ethylene production in 2026 is expected to fall by around 22 million tons, equal to 12% of 2025 output. Military tensions in the Gulf have disrupted petrochemical feedstock supplies. About 29 million tons of annual ethylene capacity in the Gulf region is currently offline, with full shutdowns in Iran, Kuwait and Qatar, and other Middle Eastern plants running near minimum rates. This has already cut regional ethylene output by roughl... -
Market Trends｜From 46,800 MT to 1.515 Million MT: How Will India’s Zero Tariff Policy Shake Up the PVC Market? Prices Rise Up to 1,400! PA66 to Increase Further!
On April 1, in response to inflation caused by regional conflicts, India announced that it would reduce import tariffs on polyvinyl chloride (PVC), polypropylene (PP) and polyethylene (PE) from 7.5% to 0% for a tentative period of three months. The measure will be effective from April 2 to June 3. India is the world’s largest importer of PVC, accounting for approximately 17% of global total imports. Its PVC demand is mainly concentrated in the agricultural sector, such as irrigation pipes, drainage and water supply pipes, followed by the construction industry involving profiles, films, wires and cables, etc. In terms of India’s import sources, Chinese mainland has long ranked first, with 41% of India’s PVC imports coming from Chinese mainland in 2024. China’s PVC export volume has incr... -
Commentary: Bolstered by Favorable Domestic and Foreign Policies, China’s PVC Exports Boast Vast Opportunities
On April 1, the Indian government announced the reduction of import tariffs on polyvinyl chloride (PVC), polypropylene (PP) and polyethylene (PE) from 7.5% to 0%. The policy officially took effect on April 2 for a tentative 3-month period, aiming to ease domestic inflation driven by regional conflicts. (This notice shall be effective from April 2, 2026 to June 30, 2026 inclusive.) India’s Temporary Import Tariff Exemption: A Window for Faster Exports Opens China is currently the world’s most stable major producer and supplier of PVC. Although the industry will enter a peak period of plant maintenance from April to July this year, market supply will remain stable backed by high social inventories. China’s PVC market is well-positioned to play an irreplaceable role in maintaining regional... -
PVC: Rising Negative Feedback, High-Range Oscillation with Bearish Bias
Fluctuations in crude oil costs have recently roiled market sentiment. International crude oil prices retreated after an oscillatory rally, weakening sentiment support for the chemical market. While the short-term plastic and chemical supply chain sees a slight contraction, end-users show strong resistance to high-priced raw materials. Plagued by heavy inventory pressure, PVC underperforms the overall industrial chain. PVC social inventory stands at 1.374 million tons, edging up 0.20% month-on-month and surging 70.63% year-on-year. According to Longzhong Data, as of March 26, the inventory-to-production days of China’s PVC manufacturers dropped 6.67% month-on-month to 5.6 days, as upstream supplies are intensively delivered to domestic and foreign markets. Market sentiment remains... -
PVC Trades Strong in Oscillation, Upside Capped by High Inventory; PP Polyolefins Offer Short-Selling Opportunities
PVC: Strong Oscillation, High Inventory Restricts Upside Potential In the previous trading day, the main PVC futures contract dropped 1.48%, with spot prices in East China falling 80 CNY/ton and the basis remaining stable. The core market game lies in the interplay between raw material supply concerns driven by overseas geopolitics, the launch of domestic spring demand and high inventory. Supported by solid short-term costs, PVC prices trade strong in oscillation while upside potential is strictly capped by high inventory. On the supply side, the operating rate of ethylene-based PVC plummeted due to high costs, forming expectations of structural tightening. Downstream pipe and profile operating rates rebounded seasonally but remained low, with procurement limited to rigid demand and wea... -
Middle East Tensions Fuel Plastic Price Surge | Chemdo Secures Global Supply Chains
Escalating Middle East conflicts, disrupted Strait of Hormuz shipping and Brent crude hitting $120/barrel have sent China’s core plastic raw material prices soaring (Mar 20-23). PE/PP/PVC/ABS saw sharp gains, with a 7.93% single-day peak rise, creating supply chain challenges—Shanghai Chemdo Trading Co., Ltd. stands as a reliable global supplier, delivering stable solutions amid volatility. Key Price Movements (CNY/ton) Market Outlook: Spot prices remain high despite mild futures corrections; PP/PVC face further supply gaps with extended plant maintenance, PE sees internal differentiation, and ABS is pinned by upstream styrene costs—high-level volatility to persist short-term. Chemdo: Your Stable Global Polymer Partner Headquartered in Shanghai, China, Shanghai Chemdo Trading Co., Ltd.... -
23,000 RMB/ton! Doubled in 10 Days, Up 4,000 RMB/ton in a Month! Middle East Conflict Hits Chemical Chain, ABS Jumps 500 RMB/ton in One Day
Since March 2026, the global chemical and plastics markets have faced unprecedented shocks due to the sharp deterioration of geopolitical conflicts in the Middle East and shipping disruptions in the Strait of Hormuz, regarded as force majeure events. International crude oil prices (WTI, Brent) have risen sharply, driving up costs across the entire petrochemical industry chain based on crude oil and triggering severe strains in global supply chains. Prices of basic chemical raw materials have soared: more than 100 chemical raw materials surged in the short term (from early March to mid-March). Among them, key intermediates such as acrylic acid, hexamethylenediamine, methylene chloride, butadiene, pure benzene and styrene recorded the most dramatic gains. For instance, hexamethylenediamin... -
Middle East Conflict Triggers Surge in Global Polypropylene (PP) Prices Asia Records the Strongest Increase
Data from Platts, a division of S&P Global Energy, shows that global polypropylene (PP) prices have risen sharply across the board since early March, driven by the ongoing conflict in the Middle East. Europe European PP homopolymer injection grade prices have increased by €220/mt since the start of March. As of March 13, spot price (free delivery) for PP homopolymer injection grade in Northwest Europe stood at €1,200/mt. On March 11, Platts assessed CFR North Africa PP raffia grade at $1,290/mt, up $190/mt week on week. This marks the largest single-week gain since the price assessment launched on March 17, 2021. CFR West Africa raffia grade prices have jumped 39% since the conflict began. Platts assessed CFR Far East Asia PP injection grade at $1,180/mt,... -
Chemdo to Showcase Comprehensive Plastic Raw Material Solutions at Chinaplas 2026 in Shanghai
Shanghai Chemdo Trading Limited is pleased to announce its participation in Chinaplas 2026 (The 38th International Exhibition on Plastics and Rubber Industries), the premier global event for the plastics and rubber sector. Exhibition Information Dates: April 21–24, 2026 Venue: National Exhibition & Convention Center (Shanghai), PR China Booth No.: 2.2J63 Main Products As a leading supplier of plastic raw materials, Chemdo will showcase its full range of high-quality polymer products at the exhibition, including: Polyvinyl Chloride (PVC) Polyethylene Terephthalate (PET) Polyethylene (PE) Polypropylene (PP) Polystyrene (PS) Polycarbonate (PC) Acrylonitrile Butadiene Styrene (ABS) Thermoplastic Elastomer (TPE) Thermoplastic Polyurethane (TPU) Ethylene Vinyl Acetate (EVA) Chinaplas...