In March 2026, affected by the US-Israel-Iran conflict, shipping in the Strait of Hormuz was hindered, impacting the global chemical supply chain. Chemical giant BASF announced price increases twice within two weeks, with the maximum increase reaching 30%, to cope with the sharp rise in raw material, logistics and energy costs. The current situation has led to production cuts and output restrictions at chemical enterprises around the world, with tight supply of core chemical raw materials and continuous transmission of cost pressure in the industry.
Post time: Mar-19-2026