en.Wedoany.com Reported - On April 27, BASF announced a further price increase of up to 25% for its global portfolio of antioxidants, processing stabilizers, and light stabilizers used in plastics applications. The move was primarily driven by significant rises in raw material prices, energy, and logistics costs resulting from the military conflict in the Middle East.
Previously, on March 4, BASF had already raised prices globally for antioxidants, processing aids, and light stabilizers in the plastics application sector by up to 20%.
BASF stated that this price adjustment is made on top of the increase announced in March and will take effect immediately. Following the two cumulative price hikes, current prices have climbed to 150% of the levels before the increases.
On April 25, according to CCTV Finance, disruptions to shipping in the Strait of Hormuz have impacted the global petrochemical industry chain, driving up the price of naphtha, a crucial raw material for plastic production. In the United States, many plastic packaging suppliers have experienced significant increases in production costs and have been forced to pass the pressure on to downstream customers.
U.S. chemical company Dow Chemical indicated that the Middle East conflict has affected approximately 50% of global ethylene and polyethylene production capacity, with the supply-demand imbalance driving a sharp surge in prices. Dow Chemical had already announced a polyethylene price increase in April, raising prices by 30 cents per pound, an increase of about 60%, and plans to add another 20 cents per pound in May, bringing the total increase to approximately 100%.
On April 23, Japan's Tosoh Corporation announced that, effective May 1, 2026, the price of its MDI series products will be raised by more than 80 yen per kilogram (equivalent to over $500 per ton). The company stated that this price increase is due to unstable supply from oil-producing countries caused by the worsening Middle East situation, which has pushed up raw material costs, while the continued depreciation of the yen is also a major reason for the soaring raw material prices. Tosoh warned that if raw material and energy costs continue to fluctuate significantly, further price adjustments may be made in the future.
Another Japanese MDI supplier, Covestro, also recently adjusted its MDI product prices, increasing them by $600 per ton.
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