Bank of England Governor Bailey said energy prices are not much higher now than before the Iran war, and that is important.

Covestro announced a strategic MDI investment to strengthen global market position and long-term supply. The plan includes a new 660,000 tonnes/year MDI unit at its Shanghai integrated site, targeted to start up around 2030, and a feasibility study for a same-scale unit in the United Arab Emirates. MDI (methylene diphenyl diisocyanate) is the primary feedstock for polyurethane rigid foam; demand is being driven by building insulation, appliances/food cold-chain and is notably strong in Asian and Middle Eastern markets.

China State Railway Group says 20 years after full-line opening the Qinghai-Tibet Railway has carried 104 mln passengers and transported 824 mln tonnes of freight. The 1,956 km line runs from Xining, Qinghai to Lhasa, Tibet; the Golmud–Lhasa section opened on July 1, 2006, completing Tibet’s rail link. The operator reports the line has operated safely and stably since opening and that transport efficiency has continued to improve, providing transport capacity support to economic and social development on the Tibetan Plateau.