【Overseas Highlights】India Imposes Anti-Dumping Duties on China-Related Ethylenediamine! Braskem Advances Debt Restructuring

News Highlights:

Raw Material News-India imposes a provisional anti-dumping duty on ethylenediamine originating from China for a period of5Annual High575 /Anti-dumping duties on tons

Packaging News-BASFBiovox Focus on Bioplastics: Breakthroughs in Packaging Coatings and New Medical Materials

Electronic News-Saint-Lecot International GroupSI GroupEstablish a joint venture with Shengxiao Group to accelerate the capacity expansion of biphenol in China.

Automotive News-Volkswagen plans to sell its marine engine subsidiary to Bain Capital.Everllence 51%

Macro News-Iran: Vessels that deviate from designated routes will not be granted security guarantees.

Price Information-The central parity rate of the RMB against the U.S. dollar was reported at6.8166, increase upward43

Below are the details of the international news:

1.India imposes a temporary duty on ethylenediamine related to China.5Year's highest575 /anti-dumping duties per ton

Recently, India’s Ministry of Commerce and Industry issued a notice regarding ethylenediamine originating in or imported from mainland China, the European Union, Saudi Arabia, and the Taiwan region of China (The final affirmative anti-dumping determination on Ethylene Diamine has been made, with a recommendation to impose anti-dumping duties for a period of five years, as follows: USD 350–575/ton for Mainland China, USD 464–739/ton for the European Union, USD 230–375/ton for Saudi Arabia, and USD 301/ton for Taiwan, China. The products involved in this case fall under Indian Customs Tariff Code 29212100.

2.Saint Lecote International Group (SI GroupEstablish a joint venture with Shengxiao Group to accelerate the capacity expansion of hydroquinone in China.

6 26 - Saint-Laurent International Group, a global leader in the development and manufacturing of high-performance additives, process solutions, and chemical intermediates.SI Group), and with global liquid crystal polymers (LCPLeading companies in the field of monomers and specialty chemicals, Shengxiao Group and its partner jointly announced the formal establishment of a joint venture to accelerate the capacity construction and development of biphenol in China. The newly established joint venture is named.Shengnuo New Materials (Sichuan) Co., Ltd., will be based in Guang’an, Sichuan, China, producing high-quality biphenol products. The company has integrated Shengxiao Group’s mature biphenol production facilities and regional market resources, as well asSI Groupproprietary technologies and global expertise in the field of biphenol. By leveraging the complementary strengths of both parties, the joint venture will further enhance local supply capabilities for biphenol and better meet growing market demand.

3.Avient launches low-dielectric-loss thermoplastic materials, plus5G/6GMillimeter wave antenna cover and advanced driver assistance systemsADAS) Technology innovation implementation

On June 25, as an innovator in material solutions,EvanteLaunched today for millimeter-wave radome applications PREPERM™ low-dielectric-loss thermoplastic materials. This new series of modified polyphenylene ether (PPE) materials includes four grades and has been developed to meet the surging demand for radar sensing equipment incorporating 5G/6G technologies in the automotive, intelligent transportation, and humanoid robotics sectors. Available worldwide, the PREPERM series offers manufacturers of components for advanced driver-assistance systems (ADAS), traffic radar system producers, and next-generation robotics developers a high-performance solution that can replace traditional materials such as glass-fiber-reinforced polybutylene terephthalate (PBT+GF).

4.KimpurLaunched a high-resilience polyurethane foam system for railway vehicle seats, meeting European fire safety standards for railway applications.

6 24 KimpurThe company has expanded its product portfolio for the railway sector with the launch of a product specifically developed for railway vehicle seats.KIMflex® HRPolyurethane foam system. This system is known for its excellent fire resistance, low emissions, and durable properties, making it the first high rebound foam system specifically developed for seating applications in railway vehicles in Turkey.

5.BASFBiovox Strengthening Bioplastics: Breakthroughs in Packaging Coatings and New Medical Materials

Bioplastics have not yet achieved large-scale mainstream application in the manufacturing industry, but relevant innovative research and development continue to progress. According to industry media,PlasticsTodayRecent reports indicate that the industry has developed a self-degradable “living bioplastic” embedded with engineered bacteria.Biovox The initial product line is based on polylactic acid (PLA) as the base material. Previously, the application of polylactic acid in the medical industry was limited to absorbable implantable devices.Biovox Complete end-to-end qualification and certification: establish a compliant raw material supply chain, build a medical-grade quality management system, and simultaneously refine supporting processes and cooperation agreements across the entire industry chain; compile a full set of test data and compliance documentation for medical-specific scenarios such as sterilization and material aging.

6.Latin American petrochemical giantBraskemPromote debt restructuring and request creditors to extend the maturity date.

Brazilian petrochemical enterprise BraskemAs the financial restructuring enters a critical stage, the company has initiated mediation proceedings with its creditors and applied for judicial protection with a local court in São Paulo, seeking to2027 Complete the renegotiation of the capital structure before year-end. During this period, the company needs to repay principal and interest totaling36.9 US$100 million in debt, equivalent to approximately at the current exchange rate203 100 million reais.

7.Volkswagen plans to sell its marine engine subsidiary to Bain Capital.Everllence 51%

Volkswagen6 24announced on [date] that it has reached an agreement with Bain Capital (Bain CapitalSign an exclusivity agreement to transfer its marine diesel engine subsidiary.Everllence 51%The equity will be sold to Bain Capital, with a transaction price of approximately.74100 million euros (approximately equivalent to84(USD billion). In the medium to long term, Volkswagen will still hold.Everllence 49%of the shares and remain a major shareholder. The acquisition is expected to become one of Europe’s largest industrial-scale asset spin-offs this year. Volkswagen Group is currently cutting costs across its automotive business and urgently needs to raise funds.

Overseas Macro Markets:

Citigroup strategists say that drawing conclusions at this point is still premature.AIIt is still too early to conclude the deal.

Citigroup strategists said that, as corporate earnings remain strong, while“Liquidity has not yet tightened enough to burst the bubble,” and stocks may continue to rise.Dirk WillerThe report states that artificial intelligence is now being discussed.AIIt is too early to say the trade is over. With oil prices falling, this rotation into Europe is likely to be short-lived. We maintain our overweight positions in the U.S. and emerging Asian markets, and note that it usually takes rising interest rates to end a bull market. Given that the Federal Reserve has not yet raised rates and its balance sheet is still expanding, we believe the bull market may remain intact.

Two Maersk vessels successfully sailed out of the Persian Gulf.

Maersk6 25On the day of the announcement, the "Maersk Baltimore" and a chartered vessel have been reported at local time.6 24Late at night until25In the early hours of the day, they successfully sailed out of the Persian Gulf and completed their transit through the Strait of Hormuz. Both vessels passed smoothly with the coordination and cooperation of security partners, and no incidents occurred.

UAE senior official says new fait accompli cannot be imposed on Gulf states and the Strait of Hormuz.

Senior Advisor to the President of the United Arab EmiratesAnwar Gargash XAs stated above, the new geopolitical realities cannot be imposed on the Gulf Arab states through “their sinister aggression.” “The fait accompli brought about by imposed aggression cannot establish stability”; rather, it will sow the seeds of future conflict—“this is precisely the case with the Strait of Hormuz.”

 [China Securities Journal: Prices are rising moderately, and the signals of improving supply-demand circulation are clear.]

In the first half of this year, domestic prices moved out of a prolonged low-level pattern, showing…CPIGentle lift.PPIThe year-on-year return to positive growth reflects a structural recovery trend, with clear signals of improvement in the supply-demand cycle. Experts stated that, looking ahead to the second half of the year, overall prices are expected to remain within a moderate range. At present, “PPI—CPIThe scissors gap continues to widen. Subsequent fiscal, monetary, and supply-guarantee and price-stabilization policies need to work in coordination to ensure smooth transmission of prices along the industrial chain, restore market expectations, and promote a positive economic cycle.

U.S. Media: Venezuela Will MobilizeIMFSpecial Drawing Rights for post-earthquake reconstruction]

According to U.S. media reports.25According to reports, Venezuela is expected to utilize its resources in the International Monetary Fund after experiencing a strong earthquake.IMFPart of the Special Drawing Rights was used for post-earthquake reconstruction. Bloomberg, citing people familiar with the matter, reported that Venezuela plans to use its...45Withdrawn from Special Drawing Rights funds amounting to hundreds of millions of U.S. dollars.2At present, it remains unclear whether Venezuela will seek to draw on more of its Special Drawing Rights funds in the near term.

Iran: Vessels deviating from the designated route will not enjoy safety guarantees.

Iranian Persian Gulf Strait AdministrationPGSA）26The announcement issued on social media states that all vessels passing through the Strait of Hormuz must follow the prescribed routes and procedures. Vessels that deviate from the designated route will not be afforded safety guarantees or related insurance coverage. The announcement specifies that any consequences arising from deviating from the designated route will be borne by the vessel's owner, operator, and captain.

Price Information:

The central parity rate of the renminbi against the U.S. dollar was set at6.8166upward adjustment43Point; Previous trading day's midpoint.6.8209The official closing price of the previous trading day.6.7995reported at the close of the previous night session6.7990。

[Upstream Raw Material USD Market Price]

6 25 CFRNortheast Asian ethylene850 / 20 / CFRSoutheast Asia830 /Ton stable.

Northeast Asia propyleneFOBSouth Korea average price reaches850 / 80 / CFRChina average price to890 / 80 /

Northeast Asia refrigerated cargo CFR, propane553-557 /ton; butane553-557 /

South China frozen cargo7Monthly CFR price, propane624-634 /tons; butane644-654 /

Taiwan Region CIF Price for Refrigerated Cargo, Propane553-557 /Ton; Butane553-557 /

【LLDPEUSD market price]

Thin film:980 / CFRHuangpu);

【HDPEU.S. dollar market price

Thin film:1170 / CFRHuangpu); Translate the above content into English and output only the translation result, with no explanations needed.

Hollow:1250 / CFRsalt pans);

Injection molding:1200 / CFRYantian);

【LDPEUS dollar market price

Thin film:1280 / CFRHuangpu);

【PPUSD market price]

Homopolymerization:1270 / CFRHuangpu);

Coprocessing:1270 / CFRNansha);

Membrane material:1560 / CFRHuangpu);

Transparent:1440 / CFRHuangpu);