News and Insights

Sinopec announced on July 17 the commissioning of 50,000 metric tons/year of new specialty polyvinyl alcohol (PVOH) capacity in Chongqing, bringing the site’s total PVOH capacity to 210,000 metric tons/year and expanding its capabilities in specialty grades.

The approval of the Yeosu restructuring marks the transition from South Korea's emergency feedstock support measures to the structural reform phase of its petrochemical recovery strategy. Earlier in 2026, Seoul introduced a KRW 674.4 billion subsidy program covering up to 50% of increased naphtha, liquefied gas and ethylene feedstock costs, alongside tariff exemptions, faster trade financing, and efforts to diversify feedstock supplies beyond the Middle East. Those measures were designed to stabilize cracker operations during supply disruptions and provide producers with the financial flexibility needed to implement longer-term restructuring.

Polypropylene (PP) markets moved lower across all regions in June, with contract prices for both homopolymer and copolymer grades declining by an average of 8.5 cents per pound (cpp) as resin values tracked the sharp decrease in propylene monomer costs.

The North American ethylene-vinyl acetate (EVA) market entered a new phase in June as easing feedstock costs and improved supply conditions began reversing the price pressures that had dominated the market since early 2026. While June brought broad-based price declines across EVA and upstream petrochemicals, market sentiment had already become more cautious with renewed conflict in the Middle East expected to interrupt the downward momentum.

Braskem has filed a legal petition challenging Brazil's antidumping duty on polyethylene (PE) imports from the United States and Canada, arguing that the current measures are insufficient to protect the domestic industry. The company is requesting a revision of the duties to the levels recommended by the technical investigation or, alternatively, the adoption of an ad valorem tariff instead of the current fixed duty per metric ton.

Mexico's automotive industry continues to strengthen its position as a critical manufacturing hub for North America—and the latest auto parts production numbers are impressive!