- Israel's Feb 28 attack on Iran roiled the PE market-traders halted offers, LLDPE futures surged.
- Iran supplies 8.4% of China's PE imports, with key grades (22B02, 2420H) deeply embedded.
- Past sanctions didn't disrupt supply, but war
Key market concerns include:
- Potential disruption to Strait of Hormuz shipping lanes
- Risk of retaliatory strikes on regional energy infrastructure
- Heightened insurance and freight costs for Middle Eastern crude exports
