HS HYOSUNG ADVANCED MATERIALS signed a memorandum of understanding (MoU) with TATA STEEL Thailand last month to secure a long-term supply of sustainable steel raw materials. This partnership ensures a stable procurement of eco-friendly steel for manufacturing tyre steel cords, reinforcing the company’s commitment to sustainability.

TATA STEEL Thailand, part of India’s renowned Tata Group, specialises in producing high-quality steel using the electric arc furnace (EAF) method. This process recycles scrap metal and is far more energy-efficient than traditional blast furnaces, reducing carbon emissions by approximately 60 percent. By sourcing these sustainable materials, HS HYOSUNG ADVANCED MATERIALS can manufacture tyre steel cords with a significantly lower carbon footprint. Additionally, sustainable steel cords yield higher profit margins compared to conventional alternatives, strengthening the company’s revenue stream in this sector.

Tyre steel cords are critical for enhancing tyre durability and shape stability, with growing demand for high-strength variants due to the expanding electric vehicle market. Furthermore, advanced markets like Europe are increasingly prioritising sustainable materials, boosting sales potential for eco-friendly steel cords. HS HYOSUNG ADVANCED MATERIALS aims to increase the proportion of sustainable steel cord sales from five percent in 2025 to 15 percent by 2027.

The company’s sustainability efforts have been widely recognised. In October 2023, it received the Platinum Medal from EcoVadis, placing it in the top one percent of over 130,000 global companies assessed for ESG performance. Additionally, it was listed on the Dow Jones Sustainability Index (DJSI) Korea for the second consecutive year in December, underscoring its leadership in sustainable business practices.

Nak-Yang Sung, CEO, HS HYOSUNG ADVANCED MATERIALS, said, “Through this MOU, we have secured a stable source of sustainable raw materials and will continue to meet the growing demand from global tyre manufacturers for sustainable products.”

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Scandinavian Enviro Systems AB publ has signed a letter of intent with an undisclosed partner to explore the possibility of licensing its advanced tyre pyrolysis technology for deployment in North America.

The collaboration will focus on conducting a comprehensive feasibility study to evaluate the technical and commercial viability of establishing one or multiple facilities dedicated to processing end-of-life tyres using Enviro’s proprietary method. This study is designed to provide the potential licensee with the necessary insights to assess the prospects of entering into a long-term commercial arrangement and formal technology licensing agreement.

It is important to note that any definitive agreements will depend entirely on the study's outcomes and subsequent negotiations. At this stage, there is no guarantee that the evaluation will lead to binding commitments or that the proposed transaction will ultimately materialise.

Fredrik Aaben, CEO, Scandinavian Enviro Systems, said, “We continue to see strong international interest in Enviro’s technology, and this letter of intent is yet another proof of this.”

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Kraton Corporation, a leading global producer of speciality polymers and high-value bio-based chemicals derived from pine wood pulping co-products, a global price increase for all polymer products with effect from 1 April 2026. The price hike will range from USD 440 per MT to USD 700 per MT, or as individual contract terms permit, with the exact price change varying according to the polymer type and production location.

The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing conflict in the Middle East, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

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German specialty chemicals company LANXESS has announced a global price increase for its portfolio of functional additives for the manufacture of tyres and speciality rubbers. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by 15 to 50 percent.

The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing geopolitical conflict, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

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Orion S.A., a global speciality chemicals company, has announced a global price increase for its portfolio of speciality carbon black. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by up to 25 percent.

In a strategic move to address persistent market volatility, the company is also implementing a variable surcharge on top of the base price increase. The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing conflict in the Middle East, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

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