Global Raw Material Price Increase Notice
Created on 03.03
On March 2, global commodity markets experienced significant volatility driven by escalating Middle East geopolitical tensions and shifting trade policies.
In China’s domestic futures market, energy and precious metals surged:
- Crude oil and fuel oil hit daily limits
- European container shipping index rose over 10%
- Shanghai silver gained more than 7%
During Asian trading hours, international crude futures spiked sharply.
Crude traded on the New York Mercantile Exchange and Brent on the Intercontinental Exchange surged over 12% and 13% within the first 10 minutes, reaching $75 and $82 per barrel respectively.
Precious metals followed the rally. Safe-haven demand intensified amid geopolitical risks and a proposed 15% global tariff policy by the U.S.:
- Gold rose 3.29% last week
- Silver jumped 13.30%
As of 8:00 AM Beijing time, March 2:
- April gold futures exceeded $5,400/oz
- May silver futures reached $97.3/oz
Meanwhile, global chemical supply chains are under pressure. Core raw materials such as styrene, butyl acrylate, and isooctyl ester continue to rise sharply.
Major suppliers issuing price increase notices include:
BASF, Wanhua Chemical, Badefu Group, Shine Group, and Henghe Group.
BASF announced that effective March 12, 2026, it will increase prices for Neopentyl Glycol (NEOL) in the U.S. and Canada:
- +$0.07 per pound
- +$155 per metric ton
The adjustment is attributed to rising raw material costs.
Additionally, multiple titanium dioxide manufacturers issued price increase notices on March 2.
⚠️ With energy, precious metals, and chemical raw materials entering a high-volatility cycle, we recommend:
✔ Securing raw materials in advance
✔ Optimizing inventory structure
✔ Reviewing cost pass-through mechanisms
✔ Strengthening supplier communication
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