Hanwha Solutions Cuts PE, PVC Prices by Up to $200 Per Ton

Hanwha Solutions announced on the 2nd that it will reduce the selling prices of key petrochemical products like PE (polyethylene) and PVC (polyvinyl chloride) by 100,000 to 250,000 won per ton. This move aligns with the government's support for naphtha and basic oil derivatives. The company aims to share the increased burden of raw material costs with plastic processing industries, which have faced significant financial pressure due to soaring prices.

By lowering prices, Hanwha Solutions intends to alleviate cost pressures for its client companies and contribute to the stability of the manufacturing supply chain. PE and PVC are fundamental materials used across various manufacturing sectors, including packaging, construction, household goods, and wire insulation. Fluctuations in raw material prices directly impact production costs for processors, subsequently affecting finished product prices and the competitiveness of downstream industries.

Nam Jeong-woon, CEO of Hanwha Solutions' Chemical Division, expressed gratitude for the government's timely support in responding to the surge in naphtha and basic oil derivative prices. He stated, "In line with the government's intent, we will share the cost burden with plastic processing companies and strive to strengthen industrial competitiveness by maintaining a stable supply system." Hanwha Solutions plans to continue collaborating with the government to respond flexibly to international raw material price fluctuations and participate in policies aimed at stabilizing supply chains and securing industrial competitiveness.

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We are deeply grateful for the government's timely support in responding to the surge in naphtha and basic oil derivative prices. In line with the government's intent, we will share the cost burden with plastic processing companies and strive to strengthen industrial competitiveness by maintaining a stable supply system.