Adds comment on price pressures in paragraph 3, background in paragraph 5, Q2 outlook in paragraph 7

By Ozan Ergenay

May 7 (Reuters) - Lanxess LXSG.DE on Thursday reported a muted quarterly core profit that was broadly in line with market expectations, but said it had seen a slight positive turn in March as customers turned to European chemical makers to avoid supply risks.

The German speciality chemicals company said that a persistently weak economic environment, geopolitical uncertainties and last year's portfolio divestments characterized the first quarter of 2026.

Cheaper raw materials and price pressures from Asia in some segments also pushed selling prices down, it said.

"The start of the year was weak, but since March we have seen a slight positive momentum. Due to the conflict in the Middle East, the supply chains of many Asian competitors have been disrupted, causing customers to turn back to European suppliers such as Lanxess," CEO Matthias Zachert said in a statement.

The war has roiled global markets, driving oil prices higher and re-igniting concerns over global inflation and growth, as the vital Strait of Hormuz remains closed.

Lanxess reported earnings before interest, taxes, depreciation and amortisation (EBITDA) pre-exceptionals of 94 million euros ($110 million) for the first quarter, slightly above analysts' forecast of 92 million euros in a poll provided on Lanxess' website.

The Cologne-based company said it expected an improvement in the second quarter, targeting EBITDA pre-exceptionals of between 130 million and 150 million euros.

It also confirmed its full-year guidance for 2026.

($1 = 0.8511 euros)