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【Overseas News】BASF Launches TPU Product Portfolio! Middle East Conflict Sparks Sulfur Price Surge! First Batch of Chinese Electric Vehicles Lands in Canada

Plastmatch 2026-05-12 17:54:37

International News Digest

Raw Materials News：US Industry Association Speaks Out: Surge in Asian PET Imports Devastates Domestic Recycling Capacity

Automotive News：First Batch of Chinese Electric Vehicles Lands in Canada: Chery and Geely Test Vehicles Arrive in Toronto

Electronics News：Action Camera Maker GoPro May Consider Selling the Company

Footwear and Apparel News：Asia-Pacific Debut! BASF Launches Elastollan® (TPU) Product Portfolio

Home Furnishings News：TotalEnergies Corbion's PLA/PHA Bio-based Washable Kitchen Paper Officially Commercialized

Macroeconomic News：Iranian Official: If Attacked Again, Iran May Choose to Raise Uranium Enrichment Level to 90%

Detailed International News

1. Asia-Pacific Debut! BASF Launches Elastollan® (TPU) Product Portfolio

BASF announced the launch of its new Reduced Product Carbon Footprint (ReducedPCF) Elastollan® thermoplastic polyurethane (TPU) product portfolio in the Asia-Pacific region. This new product launch not only continues the consistent excellent performance advantages of the Elastollan® brand but also provides customers in the footwear, sports and leisure, cable and other industries with high-quality solutions that balance performance and sustainable development through quantifiable low-carbon achievements, demonstrating BASF's firm determination to deeply cultivate the Asia-Pacific market and promote the green upgrading of the industrial chain.

2. Major Breakthrough! TotalEnergies Corbion's PLA/PHA Bio-based Washable Kitchen Paper Officially Commercialized

TotalEnergies Corbion and Yuhan-Kimberly jointly announced that a washable bio-based kitchen paper has been commercially launched. The product, which has undergone more than three years of joint research and development, was officially launched in 2026 and is made by blending Luminy® PLA (L130), PHA with FSC® certified wood pulp. This is also the first independently certified application of Luminy® PLA after complete industrial verification.

3. First Batch of Chinese Electric Vehicles Lands in Canada: Chery and Geely Test Vehicles Arrive in Toronto

According to InsideEVs, after Canada significantly reduced the import tariff on Chinese-made electric vehicles from 100% to 6.1% in January this year, the first batch of Chinese brand electric and plug-in hybrid models have quickly arrived in the country. A video released by YouTube blogger Simply Gregster EV shows models from Chery's Jaecoo (a sub-brand built specifically for overseas markets), Omoda and Exeed Sterra appearing in a parking lot in Toronto, with some vehicles already registered. Specific models include the Jaecoo J5 crossover, Omoda 9 plug-in hybrid SUV and Exeed Sterra ES sedan. According to Automotive News, Geely's luxury brand Lotus has exported 18 Eletre high-end electric SUVs to Canada. Geely stated that this is the first Chinese automaker to export vehicles to Canada under the new trade framework.

4. US Industry Association Speaks Out: Surge in Asian PET Imports Devastates Domestic Recycling Capacity

The US plastic recycling industry recently issued a warning that a large influx of low-priced PET imports has seriously disrupted the market order. In just over a year, seven domestic recycling plants in the United States have closed down, and nearly a quarter of the country's recycling capacity has been lost. According to filings with the Federal Register, the Office of the United States Trade Representative launched a review of Section 301 tariffs on Chinese imports last week, which were originally implemented during the first Trump administration. Steve Alexander, President and CEO of the Association of Plastic Recyclers (APR), submitted emergency testimony to the USTR regarding the Section 301 investigation. The investigation focuses on the impact of structural overcapacity and overseas supply glut on US industries. He bluntly stated that domestic recycling companies are in operational difficulties not because of their own low operational efficiency, but because they are constrained by artificially depressed import prices and simply cannot compete.

5. Action Camera Maker GoPro May Consider Selling the Company

Recently, US action camera manufacturer GoPro announced that its board of directors has authorized the launch of a "strategic review process" to consider various strategic options including selling the company or merging to maximize shareholder value. Following the announcement, GoPro's stock price surged more than 27% in after-hours trading. According to GoPro's disclosure, the direct trigger for this strategic review was the company's recent receipt of multiple "unsolicited strategic inquiries". Last month, GoPro announced the hiring of a consulting firm to explore opportunities to apply its technology to the defense and aerospace markets. Since this news was announced, multiple external institutions have expressed interest in acquiring or partnering with GoPro, prompting the board to formally authorize the hiring of independent financial and legal advisors to advance the review.

Overseas Macroeconomic Markets

[Iranian Official: If Attacked Again, Iran May Choose to Raise Uranium Enrichment Level to 90%]

On the 12th local time, Ibrahim Rezaei, spokesperson for the National Security and Foreign Policy Committee of the Iranian Parliament, posted on social media that if Iran is attacked again, Iran's response may be to raise the uranium enrichment level to 90%. Rezaei stated that this issue will be deliberated in parliament.

[Yuyuan Tantian: Exclusive Disclosure of Details of China-US Anti-drug Cooperation]

Yuyuan Tantian published an article stating that on May 11, the Ministry of Public Security announced that China and the United States had jointly cracked a transnational drug trafficking case. In the early morning of the next day, the US Attorney's Office for the Southern District of Florida also issued a statement disclosing the progress of the case. According to the host, this is the first such joint release between China and the United States in recent years. At the same time, in this joint investigation, the US provided some key clues and China completed the arrests.

[Middle East War Ignites Sulfur, Sulfur Prices Soar]

Affected by the situation in the Middle East, China's sulfur prices have been rising all the way this year. On May 6, the benchmark price hit a record high of 7,300 yuan per ton. On the 11th, the domestic sulfur benchmark price was reported at 7,250 yuan per ton, maintaining high volatility, with an increase of about 80% since the beginning of the year. At the same time, the arrival volume and inventory of sulfur continue to decline.

[Country Garden: Now is a Critical Window for Market Expectation Repair, the Gears of the Upward Cycle are Slowly Turning]

Country Garden held a monthly management meeting. The meeting revealed that to restore operations, Yang Huiyan, Chairman of the Board of Directors of the company, has been conducting high-frequency "site visits" and research on the front line, and has also personally led the establishment of a Product R&D and Design Special Group (PMO). As a strategic project management organization of the group, the core responsibility of the PMO Special Group is to promote the systematic improvement of product innovation and design quality.

[UBS Still Expects Gold Price to Reach $5,600 per Ounce by Year-End, Silver Price to Reach $100]

UBS stated that it is maintaining its forecasts for year-end gold and silver prices unchanged at $5,600 per ounce and $100 respectively, as the fundamental factors supporting the precious metals trend remain intact. It stated that gold prices have been under pressure since the outbreak of the Iran war, but rising inflation combined with the Federal Reserve keeping interest rates unchanged has led to compression in real interest rates, which will support gold. Retail and institutional investor purchases of gold indicate that the theme of "diversified allocation" remains very solid. Global central banks are "unlikely" to stop buying gold or directly sell gold.

Price Information

The central parity rate of the RMB against the US dollar was reported at 6.8426, up 41 basis points; the previous trading day's central parity rate was 6.8467, the previous trading day's official closing price was 6.7954, and the previous night's trading closed at 6.7963.

[Upstream Raw Materials US Dollar Market Prices]

May 11: CFR Northeast Asia $1,210/ton (stable); CFR Southeast Asia $1,260/ton (up $20/ton)

Northeast Asia propylene: FOB Korea average $1,260/ton (stable); CFR China average $1,280/ton (down $20/ton)

North Asia refrigerated cargo CIF prices: Propane $902-910/ton; Butane $1,002-1,010/ton

South China refrigerated cargo early June CIF prices: Propane $949-959/ton; Butane $999-1,009/ton

Taiwan region refrigerated cargo CIF prices: Propane $902-910/ton; Butane $1,002-1,010/ton

[LLDPE US Dollar Market Prices]

Film: $1,350/ton (CFR Huangpu)

[HDPE US Dollar Market Prices]

Film: $1,350/ton (CFR Huangpu)

Blow molding: $1,420/ton (CFR Yantian)

Injection molding: $1,400/ton (CFR Yantian)

[LDPE US Dollar Market Prices]

Film: $1,660/ton (CFR Huangpu)

[PP US Dollar Market Prices]

Homopolymer: $1,400/ton (CFR Huangpu)

Copolymer: $1,600/ton (CFR Huangpu)

Film grade: $1,650/ton (CFR Huangpu)

Transparent: $1,500/ton (CFR Huangpu)

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【Overseas News】BASF Launches TPU Product Portfolio! Middle East Conflict Sparks Sulfur Price Surge! First Batch of Chinese Electric Vehicles Lands in Canada

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