BASF Increases Prices for Plastic Antioxidants and Light Stabilizers.
Chemical giant BASF has announced a further price increase for its global range of antioxidants, processing stabilizers and light stabilizers for plastic applications, with a maximum increase of 25%. BASF stated that the price adjustment is driven by a sharp rise in raw material, energy and logistics costs due to the military conflict in the Middle East.
Merger of Polyolefin Businesses by Mitsui, Idemitsu and Sumitomo Approved.
Mitsui Chemicals, Idemitsu Kosan and Sumitomo Chemical reached a basic cooperation agreement on September 10, 2025. The three parties plan to integrate the polyolefin (PO) business operated by Prime Polymer Co., Ltd., a joint venture between Mitsui Chemicals and Idemitsu Kosan, with Sumitomo Chemical’s polypropylene (PP) and linear low-density polyethylene (LLDPE) businesses in Japan. On April 24, 2026, the relevant companies received official notification from the Japan Fair Trade Commission that it would not issue a cease-and-desist order for the integration, marking official approval.
South Korea Reduces Dependence on Middle Eastern Oil, Shifts to Imports from Americas and Africa.
Kang Hun-sik, Chief of Staff to the President of South Korea, said on Friday that by increasing crude oil imports from the Americas and Africa, South Korea has reduced its dependence on Middle Eastern crude oil from 69% to 56%. In May, approximately 23.99 million barrels of crude oil from Saudi Arabia and 16 million barrels from the United Arab Emirates are expected to be imported via routes bypassing the Strait of Hormuz. South Korea has finalized 74.62 million barrels of crude oil for May, equivalent to 87% of last year’s average monthly imports. Inventories of naphtha and basic raw materials are only sufficient for one month, but conditions are expected to improve in about one month as 2.1 million tons of booked naphtha will be imported successively starting from the end of April.
Post time: Apr-28-2026