Dear Valued Customers,
We hope this message finds you well. As a trusted partner committed to transparency and stable cooperation, we would like to inform you of a recent adjustment in the prices of some of our products, which is directly influenced by the ongoing geopolitical situation in Iran and its ripple effects on the global oil and petrochemical supply chain.
Since the escalation of tensions in Iran, the Strait of Hormuz – a critical waterway responsible for transporting 30% of the world’s seaborne crude oil and 20% of liquefied natural gas – has been effectively closed, leading to a severe disruption in global crude oil supply. This disruption has triggered a sharp surge in international oil prices, with Brent crude futures soaring to near $116 per barrel and WTI crude breaking through $103 per barrel, marking a cumulative increase of over 50% since the conflict began. As a result, the prices of oil-derived raw materials, including various petrochemicals, plastics, and related components, have risen significantly across the globe.
Data from industry monitors shows that global chemical prices recorded their steepest month-on-month increase on record in March 2026, driven by surging crude costs, with key petrochemical products such as ethylene and butadiene seeing double-digit to triple-digit price hikes. After making every effort to absorb the cost pressure through internal optimization and efficiency improvements, we regret to inform you that we have to implement a slight price adjustment for some products closely related to these oil-derived raw materials.
It is important to emphasize that this price adjustment is minimal and only applies to products whose production relies heavily on oil peripheral raw materials. We have kept the price increase as low as possible to minimize the impact on your business operations. For your pending orders confirmed before this notice, we will still honor the original price to ensure your interests are protected.
We deeply understand that price stability is crucial for your business planning and cooperation. Rest assured, we will continue to closely monitor the development of the Iran situation and the fluctuations in global oil and raw material prices. We will adjust our pricing strategy in a timely manner and keep you updated of any further changes.
As always, we remain committed to providing you with high-quality products and professional services. Thank you for your understanding, trust, and long-term support. If you have any questions or concerns about the price adjustment, please feel free to contact our sales team at any time. We are here to assist you.
Best regards,
Loongwa