[International News] Xi Jinping Meets With Trump; Japanese Giant Exposed For Fraud; Honda Abandons 2040 ICE Ban Target

International News Digest:

Raw Material NewsAsahi Kasei: Halting production of LDPE and HDPE.

Automotive NewsHonda announced that it is abandoning its goal of banning the sale of gasoline-powered vehicles by 2040.

Packaging News- 35.9% coverage rate drives reform! New regulations for composting and compostable packaging in the United States.

Electronics NewsJapanese motor giant Nidec exposed for large-scale fraud.

Macroeconomic News-Xi Jinping met with U.S. President Donald Trump in a small-scale meeting at Zhongnanhai.

Below are the details of the international news.：

1. Asahi Kasei: Ceases production of LDPE and HDPE

Asahi Kasei recently announced plans to complete the streamlining of operations at its Mizushima Works by fiscal 2030.

This adjustment will not have an immediate impact on the supply of the company's derivative products. The business involved in this adjustment generated revenue of 116.2 billion yen in fiscal year 2025, while the overall revenue of the materials business segment during the same period was 1.3062 trillion yen.

These measures are scheduled to be completed by fiscal 2030 and are in line with the previously announced plan to shut down the ethylene plant of Asahi Kasei Mitsubishi Chemical Ethylene Corporation (AMEC), further advancing the company’s efforts to improve capital efficiency and strengthen long-term profitability.

Sold for US$28,000! Court Ruling Completed for TNJ Ohio’s Acquisition of the TMD Business

The U.S. Houston court ruled this week to approve the sale of Toledo Molding & Die (TMD) to TNJ Ohio LLC, an affiliate of JVIS, through a transaction approved by the bankruptcy court. U.S. Bankruptcy Judge Christopher Lopez signed the sale order on May 14, approving First Brands Group LLC's transfer of the operating assets of the business to the new acquirer.

Court documents show that this sale will enable TNJ Ohio to acquire all production assets free and clear of existing liens, claims, encumbrances, and related interests, removing debt-related burdens for the company’s future operations.

3. LYB has reached a partnership with Interpolimeri to expand the distribution of masterbatches in Germany and Austria.

LyondellBasell (LYB) has signed a partnership agreement with European plastics materials distributor Interpolimeri Spa to expand the distribution of LyondellBasell color masterbatches and customized high-performance colorants in Germany and Austria starting in the first quarter of 2026.

LyondellBasell stated that the company has refined its market expansion strategy in Europe through communication with customers and the broader market.

4. 35.9% coverage rate drives reform! New regulations for composting and compostable packaging in the United States.

The U.S. Plastics Pact (USPP) recently released a policy brief outlining the comprehensive policy landscape needed to improve composting systems, with the aim of transforming fragmented composting models into a nationwide circular economy solution. Currently, only 35.9% of Americans have access to food waste collection services, and this document fills a critical gap in the industry.

The new report titled "Scaling Up Compost Development" points out that by coordinating policy frameworks, ensuring continuous financial investment, and implementing systematic planning, it is possible to accelerate the construction of composting infrastructure. Additionally, compostable packaging can be promoted as a supplementary solution to the recycling system across the United States.

5.Honda announces it is abandoning its 2040 target to ban the sale of gasoline-powered vehicles.

On May 14, Honda Motor Co. announced that it would abandon its original goal of achieving a complete phaseout of internal combustion engine vehicles by 2040 and plans to launch 15 new hybrid models by 2030, in response to the company’s first annual loss in nearly 70 years. This strategic adjustment was announced by Honda President Toshihiro Mibe at a press conference that day.

According to the financial report, as of the end of the previous fiscal year on March 31, 2026, Honda recorded an operating loss of 414.3 billion yen (approximately 2.59 billion USD) and a net loss of 423.9 billion yen (approximately 2.65 billion USD). This marks the company's first annual loss since going public in 1957. Takahiro Hachigo stated that the total asset write-downs and impairment losses incurred during the transition to electrification amounted to 1.58 trillion yen (approximately 9.9 billion USD), which was the main reason for the losses.

6. Nidec, a Japanese motor giant, has been exposed for large-scale falsification.

According to a report by Nikkei, Nidec, the world’s largest manufacturer of precision motors, issued a statement on May 13 saying that it had discovered multiple suspected cases of misconduct involving product quality falsification. The problems affect quality control for motors and other products, including unauthorized changes to product materials, production processes, and design plans without approval. The company said it plans to establish a special investigation committee composed of outside experts to investigate the matter.

However, the company added, “At present, no issues have been identified that would immediately affect product functionality or safety.” Nidec stated that it has begun proactively contacting customers to explain the situation and communicate relevant details. It will also carry out a comprehensive quality inspection and plans to finalize and announce the handling measures and related follow-up arrangements for this quality violation incident on May 13.

7. Easing of chip trade restrictions? The U.S. is reportedly allowing Nvidia to sell H200 chips to 10 Chinese companies.

According to Reuters, on May 14, three informed sources revealed that the United States has approved around 10 Chinese companies to purchase Nvidia’s second-most powerful artificial intelligence chip, the H200, but no deliveries have been completed so far. This major technology deal has stalled, while Nvidia CEO Jensen Huang is this week seeking a breakthrough in the Chinese market.

Overseas Macro Markets:

Kioxia, the Japanese storage giant, saw profits hit a record high amid the AI boom and is preparing to list in the U.S.

Japanese memory giant Kioxia said it will pursue a U.S. listing as a global shortage of memory chips drives the prices of key components to record highs. For the quarter ended in March, the company posted a record operating profit of 596.8 billion yen, beating market expectations, and forecast operating profit of 1.3 trillion yen for the quarter ending in June. Kioxia’s share price has risen about 300% so far this year, as investors believe NAND will be the next chip component to benefit from the AI boom. Kioxia said it is preparing for an American depositary share (ADS) listing, though the timing, the U.S. exchange, and other related details have yet to be determined.

Xi Jinping Holds a Small-Scale Meeting with U.S. President Trump at Zhongnanhai

On the morning of May 15, President Xi Jinping held a small-group meeting with U.S. President Donald Trump at Zhongnanhai. Xi Jinping said that President Trump’s visit was a historic and milestone visit. Together, we established a new positioning for a constructive and strategically stable China-U.S. relationship, reached important consensus on maintaining stable economic and trade ties, expanding practical cooperation in various fields, and properly addressing each other’s concerns, and agreed to strengthen communication and coordination on international and regional issues. The visit is conducive to promoting mutual understanding, deepening mutual trust, and enhancing the well-being of the people of both countries.

U.S. officials said the third round of Israel-Lebanon talks was “productive and positive.”

A Chinese State Council official said on the 14th that the third round of talks between Israel and Lebanon held in Washington, D.C., was "productive and positive," and the talks will continue on the 15th. U.S. media quoted the official as saying that the discussions began at 9 a.m. local time and lasted for eight hours, but did not provide further details.

JPMorgan raises its bull-case target for the Taiwan Weighted Index to 50,000 points.

JPMorgan strategists raised their target for Taiwan’s TAIEX, setting a bull-case target of 50,000 points, implying about 20% upside from the previous trading day’s close, as the market is exposed toArtificial intelligenceThe most pure form of construction exposure.

Price Information:

The central parity rate of the renminbi against the U.S. dollar was set at 6.8415, down 14 pips; the previous trading day’s central parity rate was 6.8401, the official closing rate was 6.7862, and the overnight session closed at 6.7878.

[Upstream Raw Material USD Market Prices]

On May 13, ethylene CFR Northeast Asia was steady at $1,200/ton, and CFR Southeast Asia was steady at $1,250/ton.

The average FOB Korea price of propylene in Northeast Asia remained stable at USD 1,260/ton, while the average CFR China price remained stable at USD 1,280/ton.

Northern Asia CIF prices: Propane $961-969/ton; Butane $1061-1069/ton.

For refrigerated cargoes arriving in South China in the first half of June, CFR prices were USD 973–983/mt for propane and USD 1,023–1,033/mt for butane.

Taiwan CFR price for refrigerated cargo: propane at USD 961-969/ton; butane at USD 1061-1069/ton.

[LLDPE USD Market Price]

Film: $1340/ton (CFR Huangpu);

[HDPE USD market price]

Film: $1330/ton (CFR Huangpu);

Hollow: USD 1,400/ton (CFR Yantian);

Injection molding: $1400/ton (CFR Yantian);

[LDPE US Dollar Market Price]

Film: USD 1,660/ton (CFR Huangpu);

[PP USD Market Price]

Homopolymer: USD 1,400/ton (CFR Huangpu);

Copolymer: USD 1,600/ton (CFR Huangpu);

Membrane material: USD 1,650/ton (CFR Huangpu);

Transparent: USD 1,500/ton (CFR Huangpu).