News Highlights:
Raw Materials News - Woosh and Borouge International join hands with BlueAlp to establish a circular recycling pathway for diaper plastics
Auto News - Hyundai Motor India Announces Price Increase Across Its Entire Model Lineup Starting June 1, with Prices Rising by up to 12,800 Rupees
Equipment News - International Cooperation Achieves Another Success | Bell Machinery Joins Hands with Middle Eastern BariQ to Deepen Its Presence in the High-End PET Recycling Field
Additives News - Clariant's bio-based PVC additive approved by the U.S. Food and Drug Administration
Macroeconomic News - The EU will introduce measures to "protect European industry."
Price information - The RMB central parity rate against the U.S. dollar was reported at 6.8176, up 64 points, hitting a new high since February 14, 2023.
The following are details of international news:
Woosh and Borouge Partner with BlueAlp to Unlock a Plastic Recycling Pathway for Diapers
Belgian circular diaper brand Woosh, global polyolefin solutions leader Borouge, and BlueAlp, a leading chemical recycling company with a commercial production facility in Ostend, Belgium, have joined forces to fully close the loop on diaper plastic recycling. The three parties have jointly confirmed that plastics from used diapers can be recovered and converted into virgin polymer feedstock through chemical recycling. This marks the first industrial-scale implementation of this kind of circular model in Europe, opening up a practical and scalable solution for one of the region’s most difficult-to-recycle waste streams.
Hyundai Motor India announced that, effective June 1, prices for all models will be increased, with a maximum increase of 12,800 rupees.
Hyundai Motor India Ltd has recently announced that, effective from June 1, 2026, it will increase the prices of all its models sold in the Indian market, with the maximum hike reaching up to 12,800 Indian Rupees (approximately 1,100 RMB). The price adjustment was originally scheduled to take effect in May 2026, but has now been postponed to June 1.
The company stated in a statement that the price adjustment is primarily influenced by rising raw material costs, increasing commodity prices, and higher operating expenses. The specific price increase will vary by model and configuration. Hyundai India mentioned that despite the company's ongoing efforts to optimize its cost structure to mitigate the impact on consumers, it still has to pass on some of the additional costs to the market through price hikes.
Image source: Modern India Company
This is Hyundai Motor India’s second price increase this year. Earlier, the company had already raised vehicle prices by an average of 0.6% in January 2026.
3. Another Fruitful Achievement in International Cooperation | Bell Machinery Partners with BariQ in the Middle East to Deepen Its Presence in the High-End PET Recycling Sector
As the global recycling industry flourishes, China’s plastic machinery capabilities continue to gain international recognition. The cooperation project between Jiangsu Beier Machinery and BariQ, a leading PET recycling company in the Middle East and North Africa, has been featured in Issue 148 of Business Focus and its accompanying brochure, once again attracting attention from the international industry.
As a benchmark enterprise in the Middle East region, BariQ focuses on bottle-to-bottle closed-loop recycling, specializing in food-grade recycled PET products. The company has extremely stringent requirements for the stability of production equipment, process standards, and environmental compliance.
To meet customers’ high-end production needs, Bell Machinery custom-builds complete PET recycling lines. The entire line is FDA food-grade certified, with flexible capacities ranging from 1,000 to 8,000 kg/h. From waste PET bottle sorting, washing, and pelletizing to finished product output, the whole process achieves intelligent and standardized operation, ensuring stable, compliant recycled material quality for high-value applications such as food packaging.
4. Clariant's bio-based PVC additives approved by the U.S. Food and Drug Administration.
Clariant’s bio-based Licocare® RBW series of wax additives has successfully received approval from the U.S. Food and Drug Administration (FDA) for use in rigid polyvinyl chloride (PVC) food-contact products. This approval is of great significance for manufacturers seeking to replace traditional fossil-based processing aids with renewable alternatives.
目前传统蒙旦蜡供应日趋紧张、价格波动剧烈，行业发展面临严峻挑战，而本次获批有效化解了这一难题。此次许可覆盖科莱恩全系列利可瑞 RBW 产品，包括 RBW 100 系列、RBW 300 系列，以及专用牌号利可瑞 RBW 360 Vita 与 RBW 560 Vita。
Effective June 1, Vietnam will roll out E10 biofuel nationwide to boost green energy development.
Vietnam plans to roll out E10 biofuel (containing 10% bioethanol and 90% conventional gasoline) nationwide starting June 1, 2026. This initiative is a core component of the Ministry of Industry and Trade’s overall plan for green energy transition and the promotion of environmentally friendly fuels, and represents a further upgrade following the introduction of E5 biofuel in 2018.
The reasons driving this transition involve multiple aspects. On the environmental front, E10 biofuel is expected to significantly reduce greenhouse gas emissions. According to estimates, replacing 1 million cubic meters of mineral gasoline could cut carbon dioxide emissions by up to 2.5 million tons each year. The ethanol in E10 enables fuel to burn more completely and cleanly, thereby reducing harmful pollutant emissions and improving air quality. On the energy security front, the move aims to reduce Vietnam’s dependence on imported fossil fuels, as the country has limited domestic oil and gas reserves. On the economic front, E10 biofuel is usually cheaper than conventional gasoline, helping consumers save money. At the same time, it can create stable demand for crops such as cassava and sugarcane used to produce ethanol, boosting domestic agriculture and helping farmers in remote areas increase their income.
6. The implementation of DPP technology in the recycling industry is driving a digital transformation in the global trade of waste and used materials.
WasteTrade has recently fully integrated the Digital Product Passport (DPP) system into its online trading platform for waste materials and recycled resources, becoming the first company in the industry to deeply incorporate this technology into the entire process of recycled material trading and compliance. The platform connects waste generators such as production enterprises, as well as recycling processors, recovery companies, and end-users of waste materials, aiming to enhance the operational efficiency, information transparency, and carbon utilization benefits of the global recycling industry.
This move has also positioned the company at the forefront of the industry’s transformation. Europe is currently accelerating the adoption of digital material traceability, standardized compliance data management, and interoperable circular economy systems, and WasteTrade is deeply aligned with this trend.
With a series of new regulations rolling out in Europe, the Digital Product Passport (DPP) will play an increasingly critical role in areas such as sustainability, product traceability, verification of recycled content, and circular material flows. This system will establish standardized digital records for products and materials throughout their entire life cycle, covering various information including composition, origin, recyclability, and reuse value.
7. The EU has imposed a €200 million fine on Temu!
On May 28, local time, the European Commission announced a fine of 200 million euros (approximately 232 million USD / 1.57 billion RMB) against Temu, a cross-border e-commerce platform under Pinduoduo. The reason for the fine is that Temu, as a "Very Large Online Platform (VLOP)," failed to take effective measures to identify, assess, and mitigate the circulation of dangerous baby toys, substandard chargers, and other illegal goods on its platform, which constitutes a serious violation of the EU's Digital Services Act (DSA). This is the second fine issued by the EU under the DSA and is one of the largest penalties to date regarding compliance obligations for e-commerce platforms.
Overseas Macro Markets:
Samsung and SK Hynix surge, “hitting” fund holding cap limits, triggering forced selling.The stock prices of Samsung Electronics and SK Hynix have soared, unexpectedly causing trouble for some funds: their positions have become so large that they are now forced to sell. As these two Korean chipmakers hit new intraday highs, more and more funds are bumping up against the 10% single-stock holding limit, including GAM Investment Management and Jupiter Asset Management, both of which have been forced to adjust their portfolios to remain compliant.
Cuban Foreign Minister: Cuba-U.S. dialogue “has made no progress”Cuban Foreign Minister Rodríguez reposted on social media on the 28th a report by a U.S. media outlet interviewing him. In the interview, he said that Cuba-U.S. dialogue “has made no progress.” Rodríguez said in the interview that the U.S. side has shown “great volatility and irresponsibility,” adding that “their conduct in the talks is one thing, but the public remarks constantly made by U.S. officials are full of hostility.”
The spent fuel removal operation for Unit 2 of the Fukushima Daiichi Nuclear Power Plant will begin next month.Tokyo Electric Power Company (TEPCO) announced on the 28th local time that it will begin, from early next month, work to remove the remaining spent fuel from the fuel pool of Unit 2 at the Fukushima Daiichi Nuclear Power Plant. The plan is expected to take more than two years to complete, and TEPCO said it will "proceed with the work cautiously." As a result of the twin impacts of the March 11, 2011 Great East Japan Earthquake and tsunami, the cores of Units 1 to 3 at the Fukushima Daiichi plant melted down, producing about 880 tons of nuclear debris. The nuclear debris is highly radioactive, and how to remove this debris is considered the greatest challenge in the decommissioning work at Fukushima Daiichi.
[Iranian officials say they have no intention of exporting enriched uranium out of Iran]According to a report by RIA Novosti on the 29th, Ebrahim Azizi, chairman of the National Security and Foreign Policy Committee of Iran’s Islamic Consultative Assembly, said that Iran has no plans to transfer enriched uranium out of the country. Azizi told RIA Novosti that Iran has no intention of transferring enriched uranium to a third country, an intermediary, or anywhere else.
The EU will introduce measures to "protect European industry."Cailian Press, May 29 — Foreign Ministry spokesperson Mao Ning hosted a regular press conference. A reporter from AFP asked: The European Commission is holding a meeting today and is expected to introduce measures “to protect European industry from the impact of competition from China.” What is China’s comment on this?
Mao Ning said that the essence of China-EU economic and trade relations is mutual benefit and win-win cooperation. China has never deliberately pursued a trade surplus with Europe. Protectionism will only harm the interests of European consumers and weaken the competitiveness of European industries.
“We hope the European side will view China-EU economic and trade relations in a comprehensive and objective manner and abide by free trade. China is also closely following relevant developments and will take necessary measures to safeguard its legitimate rights and interests,” Mao said.
Price information:
The midpoint exchange rate of the RMB against the US dollar hits a new high since February 14, 2023.The RMB midpoint against the US dollar was set at 6.8176, up 64 pips; the previous trading day’s midpoint was 6.8240, the previous trading day’s official closing price was 6.7800, and the previous night session closed at 6.7753.
[Upstream Raw Material USD Market Prices]
On May 28, CFR Northeast Asia was $975/ton, down $30/ton, and CFR Southeast Asia was $1,125/ton, down $25/ton.
The average FOB price of propylene in Northeast Asia has stabilized at $1180/ton in South Korea, while the average CFR price in China has stabilized at $1200/ton.
North Asia CFR prices for refrigerated cargoes: propane at USD 813-821/ton; butane at USD 913-921/ton.
South China refrigerated cargo July CFR price: propane USD 919–929/ton; butane USD 979–989/ton.
The CIF price of frozen goods in Taiwan is propane at $813-821/ton and butane at $913-921/ton.
[LLDPE USD Market Price]
Film: USD 1,300/ton (CFR Huangpu);
[HDPE US dollar market price]
Film: $1320/ton (CFR Huangpu);
Hollow: USD 1,360/ton (CFR Yantian);
Injection molding: USD 1,350/ton (CFR Yantian);
LDPE US dollar market price
Film: USD 1,480/ton (CFR Huangpu);
[PP USD Market Price]
Homopolymer: USD 1,400/ton (CFR Huangpu);
Copolymer: USD 1,540/ton (CFR Nansha);
Membrane material: USD 1,560/ton (CFR Huangpu);
Transparent: $1500/ton (CFR Huangpu).
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