China Adjusts Tariffs on U.S. Goods! PCI Acquires Comar; Toray Develops CFRP Recycling Technology

International News Guide

Raw Material News - South Korea to Mandate 10% Recycled PET in Bottles from 2026

Recycling News - Toray Develops CFRP Recycling Technology to Preserve Fiber Strength and Quality

Packaging News - Precision Concepts Acquires Comar to Expand Rigid Packaging Portfolio

Electronics News - Global Smartphone Shipments Reach 320 Million Units in Q3

Macroeconomic News - State Council Tariff Commission: Continues Suspending 24% Additional Tariffs on U.S. Goods for One Year, Retains 10% Rate

Price Information - CNY/USD Central Parity Rate Stands at 7.0901, Down 16 Pips

Details of International News

1.Weak Market! Ineos Considers Exiting Sinopec Ineos (Tianjin) Petrochemical Co., Ltd.

According to Plastmatch on November 5, Chemweek reports that Ineos Group Holdings is in talks with Sinopec to exit all or part of their joint petrochemical venture in Tianjin, China. Ineos cited ongoing market weakness as the reason for the move.

“Discussions regarding our participation in the Tianjin joint venture are still ongoing,” Richard Longden, spokesperson for Ineos Group Ltd., replied to Chemweek via email on November 3. “No final agreement has been reached yet, and it is too early to speculate on the timing or potential outcome of the transaction.”

Ineos Group Ltd. is the parent company of Ineos Group Holdings, which operates the group’s global olefins, polymers, and chemical intermediates business.

When asked if the company was evaluating other joint ventures in China, Longden responded in the email: “This evaluation only involves our shareholding in the Tianjin joint venture. Our other joint ventures in China, including SECCO Petrochemical Co., Ltd. (Shanghai) and Sinopec Ineos Styrolution Advanced Materials (Ningbo) Co., Ltd., are operating normally and remain important parts of our business in the region.”

2.South Korea to Mandate 10% Recycled PET in Bottles from 2026

According to Plastmatch on November 5, starting from January 2026, South Korea will require some beverage and bottled water producers to use recycled content in their colorless PET bottles.

The new regulation mandates that companies using more than 5,000 tons of colorless PET bottles annually incorporate recycled content into their packaging. The government expects the new rule to apply to approximately 10 major bottle producers, including Coca-Cola Korea, Lotte Chilsung Beverage, and Jeju Samsudaek.

The regulation aligns South Korea’s recycled content requirements with those of the EU (PPWR), Germany, and the UK. Based on these international standards, the ministry plans to expand South Korea’s mandate by 2030. Companies using more than 1,000 tons of PET bottles annually will be required to use at least 30% recycled materials. There are also plans to extend the mandate to other packaging products and materials in the future.

3. Precision Concepts Acquires Comar to Expand Rigid Packaging Portfolio

Precision Concepts International LLC (PCI) announced the acquisition of Comar. PCI stated that the merger creates a scaled rigid packaging platform to serve diverse consumer and healthcare customers in North America.

Comar, with manufacturing facilities across the U.S., Puerto Rico, and Ireland, primarily produces rigid packaging and plastic products for the healthcare and consumer goods sectors.

4. ETH Zurich Recycles Automotive Shredder Residue into Chemical Feedstock

As the EU enacts regulations for end-of-life vehicles, policymakers need to identify the most efficient and environmentally friendly ways to dispose of automotive materials. A new study by ETH Zurich, in collaboration with BASF, explores an alternative approach to handling mixed plastic waste from end-of-life vehicles—recycling it alongside biomass.

The study found that recycling 1 kg of automotive shredder residue (ASR) with 3 kg of biomass reduces greenhouse gas emissions by over 3 kg of CO₂ equivalent, compared to incinerating ASR for energy recovery.

ETH Zurich’s research is based on a gasification pilot project launched by BASF and Austria’s BEST in early 2025. At BEST’s pilot plant, the project combined biomass gasification with the gasification of plastic waste from ASR for the first time.

5. Toray Develops CFRP Recycling Technology to Preserve Fiber Strength and Quality

Toray Industries, Inc. announced the development of a recycling technology that decomposes various carbon fiber-reinforced plastics (CFRP) made from thermosetting resins, while preserving the strength and surface quality of the fibers. Using this technology, the company has created a non-woven fabric made from recycled carbon fibers.

Toray has begun providing prototype samples to customers to support the development of performance and decorative materials for applications in automotive, construction, electrical and electronics, and daily necessities. The company will advance technical evaluations to meet customer needs.

6. Global Smartphone Shipments Reach 320 Million Units in Q3

Recently, market research firm Counterpoint Research stated in a report that global smartphone shipments grew 4% year-on-year to 320 million units in the third quarter of 2025.

In terms of manufacturer performance:

Samsung led the global smartphone market in shipments with a 19% market share. Its revenue rose 9% year-on-year, and its average selling price (ASP) increased 3%—driven mainly by a higher share of premium products, with sales of the Galaxy S25 series and latest foldable phones (Z Fold7 and Flip7) continuing to outperform previous generations.

Apple ranked second with a 17% market share.

Xiaomi took third place in global shipments with a 14% market share, up 2% year-on-year. Growing demand for mid-to-high-end smartphones in emerging markets such as Southeast Asia, the Middle East and Africa (MEA), and Latin America offset declines in other regions.

OPPO and vivo ranked fourth and fifth with 9% and 8% market shares, respectively.

Overseas Macroeconomic Market

【State Council Tariff Commission: Continues Suspending 24% Additional Tariffs on U.S. Goods for One Year, Retains 10% Rate】

State Council Tariff Commission: To implement the consensus reached in China-U.S. economic and trade consultations, in accordance with laws and regulations such as the Customs Tariff Law of the People’s Republic of China, Customs Law of the People’s Republic of China, Foreign Trade Law of the People’s Republic of China, and the basic principles of international law, and with the approval of the State Council, starting from 13:01 on November 10, 2025, the additional tariff measures specified in the Announcement of the State Council Tariff Commission on Additional Tariffs on Imports Originating from the United States (Tariff Commission Announcement No. 4 of 2025) will be adjusted. The 24% additional tariff rate on U.S. goods will continue to be suspended for one year, while the 10% additional tariff rate will be retained.

【Cumulative Shipments of Western Land-Sea Corridor Trains Exceed 1.2 Million TEUs This Year】

On November 5, 80 containers loaded with Australian kraft paper, Singaporean shortening, and other goods departed from Guangxi Qinzhou Port East Station on the X9596 Western Land-Sea Corridor train, bound for Chongqing Xiaonanya Station. So far, the cumulative shipments of Western Land-Sea Corridor trains have exceeded 1.2 million TEUs this year, reaching 1.214 million TEUs, a year-on-year increase of 63.2%. Data shows that since the 14th Five-Year Plan period, Western Land-Sea Corridor trains have shipped a total of 4.441 million TEUs of goods. As an important logistics channel connecting western China with ASEAN countries, it promotes regional coordinated development and deepens opening-up, building an efficient linkage bridge for the “dual circulation” pattern of “domestic and international circulations reinforcing each other”.

【U.S. Government Shutdown Hits Record Length, Economic Impact Worsens】

Due to a deadlock over healthcare and spending priorities, the U.S. Congress has allowed the federal government shutdown to continue into its 36th day, making it the longest shutdown in federal history. As the shutdown reaches a new milestone, economic losses are mounting. Budget adjustments for paying active-duty military salaries and partially funding food aid may be exhausted by the end of November. Meanwhile, as the busiest travel season of the year approaches, unpaid air traffic controllers are absent in large numbers.

【Global Stock Market Turmoil Drives Funds into U.S. Treasuries; Analysts See 10-Year Yield Falling to 3.5%】

Risk-aversion sentiment triggered by global stock sell-offs has led analysts to debate how low U.S. Treasury yields could fall. TD Securities predicts that the U.S. 10-year Treasury yield will drop to 3.50% by the end of 2026; DBS estimates that if stock markets continue to decline, the benchmark yield could fall to a low of 3.8% (currently around 4.07%). Volatility related to overvalued tech stocks has weighed on global stock indexes, making the outlook for U.S. Treasuries—considered the world’s safest investment—increasingly attractive. Wall Street leaders such as Ted Pick of Morgan Stanley and David Solomon of Goldman Sachs have warned of further stock price declines, highlighting the potential for a new rally in the $73 trillion bond market.

【World Openness Report 2025 Officially Released】

The 8th Hongqiao International Economic Forum “Release of World Openness Report 2025 and International Symposium” was held in Shanghai. The newly released World Openness Report 2025 published the 2024 World Openness Index. Based on the values and rankings of 129 economies in the World Openness Index from 1990 to 2024, Singapore ranked first in openness, followed by Hong Kong (China) and Ireland. The 2024 World Openness Index was 0.7545, down 0.05% year-on-year, 0.34% lower than in 2019, 5.39% lower than in 2008, and 7.08% higher than in 1990. While global openness has tightened slightly, China has achieved remarkable results in expanding opening-up.

Price Information

The CNY/USD central parity rate was reported at 7.0901, a decrease of 16 pips; the central parity rate of the previous trading day was 7.0885, the official closing price of the previous trading day was 7.1233, and the night session closing price of the previous day was 7.1300.

【Upstream Raw Material USD Market Prices】

Ethylene Asia: CFR Northeast Asia USD 750/ton (stable); CFR Southeast Asia USD 755/ton (stable).

Propylene Northeast Asia: FOB South Korea average USD 730/ton (stable); CFR China average USD 745/ton (stable).

North Asia refrigerated cargo CIF price: Propane USD 513-515/ton; Butane USD 534-536/ton.

South China (China) refrigerated cargo CIF price for early December: Propane USD 547-557/ton; Butane USD 532-542/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 513-515/ton; Butane USD 534-536/ton.

【LLDPE USD Market Prices】

Film: USD 830-860/ton (CFR Huangpu);

Injection Molding: USD 935/ton (CFR Huangpu).

【HDPE USD Market Prices】

Film: USD 860-900/ton (CFR Huangpu);

Injection Molding: USD 820/ton (CFR Huangpu);

Blow Molding (Hollow): USD 830-860/ton (CFR Huangpu);

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1030-1050/ton (CFR Huangpu);

Coating: USD 1280/ton (CFR Huangpu).

【PP USD Market Prices】

Injection Molding: USD 840-915/ton (CFR Huangpu);

Copolymer: USD 840-870/ton (CFR Nansha);

Film Grade: USD 1015/ton (CFR Huangpu);

Transparent Grade: USD 1035-1080/ton (CFR Huangpu);

Pipes: USD 1100/ton (CFR Shanghai).