【Overseas News】 US to Impose Tariffs on Chinese PP, Etc.! Xiamen Changsu BOPA Production Line Lands in Indonesia; Henkel Acquires New Company

News Brief

Raw Material News - Breaking! U.S. Imposes Tariffs on Various Chinese Products, with Maximum Rate of 1069.27%

Henkel to Acquire ATP Adhesive Systems Group, a Leading Swiss Manufacturer of High-Performance Water-Based Specialty Tapes

Equipment News - Xiamen Changsu's First Overseas Bruckner Production Line Lands in Indonesia, Accelerating Global Layout

Aviation News - Joby Aviation Establishes Second Factory in Ohio, Implementing Dual-Site eVTOL Production Strategy

Macro NewsECB Governing Council member Nagel says interest rate policy path could change due to U.S. tariffs.

Pricing InformationThe central parity rate of RMB against the US dollar was reported at 7.0014, down 8 basis points.

International News Highlights:

Breaking! US imposes tariffs on various Chinese products, with rates up to 1069.27%

On January 20, 2026, Eastern Time, the U.S. Department of Commerce and the U.S. International Trade Administration consecutively issued multiple decisions regarding anti-dumping and countervailing duty investigations into Chinese products. These decisions involve a variety of products including corrugated polyvinyl chloride boxes, fiberglass doors, hardwood and decorative plywood, L-lysine, and empty capsules. The imposed anti-dumping and countervailing duties reach a maximum rate of 1069.27%.

ADNOC Gas and Hindustan Petroleum Corporation Sign $3 Billion, 10-Year LNG Supply Agreement

Abu Dhabi National Oil Company (ADNOC) Gas, along with its subsidiary, has announced a landmark long-term liquefied natural gas (LNG) supply agreement with Hindustan Petroleum Corporation Limited (HPCL). The sale and purchase agreement (SPA), valued between $2.5 billion and $3 billion for a duration of ten years, marks a significant step forward in the UAE-India energy partnership and underscores ADNOC Gas's growing position as a reliable LNG supplier in the rapidly expanding Asian market, particularly India.

The signing of the agreement coincided with the state visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to India, during which he held talks with Indian Prime Minister Narendra Modi. This high-level interaction underscores the strategic importance of energy cooperation in the broader bilateral relationship between the two countries, with liquefied natural gas (LNG) supplies playing a central role in ensuring long-term energy security.

3. Xiamen Changsu's First Overseas Bruckner Production Line Lands in Indonesia, Accelerating Global Layout

As China's largest producer and an industry pioneer of Biaxially Oriented Polyamide (BOPA) film.Xiamen Changsu Industrial Co., Ltd. has successfully commissioned its first overseas BOPA production line.Previously, Xiamen Changsu has operated multiple Brueckner Machinery nylon film stretching production lines in China. This overseas expansion marks an important step for the company to break into core markets and deepen its globalization strategy. With the successful launch of this new generation biaxial stretching production line in Indonesia, Xiamen Changsu will further strengthen its global customer service capabilities and continuously unleash new market growth potential.

€49 Million! Borealis Boosts High-Performance Polypropylene to Empower Packaging, Medical, and Other Fields

Borealis, a polyolefin solutions provider, has announced a strategic investment of €49 million (approximately $57.5 million) to expand the Borstar Nextension polypropylene (PP) capacity at its production site in Burghausen, Germany.

The company stated that this investment will expand the commercial production of next-generation single-site polypropylene (ssPP) products. These products offer higher purity, superior processing performance, and enhanced product properties, enabling customers in core sectors—such as packaging, healthcare, mobility, and fibers—to meet evolving market demands and regulatory requirements.

Henkel plans to acquire ATP Adhesive Systems AG, a leading Swiss company specializing in high-performance water-based specialty adhesive tapes.

Henkel recently announced it has signed an agreement to acquire ATP Adhesive Systems, a Switzerland-based company, from Arsenal Capital Partners.

ATP Adhesive Systems is a leading player in the field of high-performance water-based specialty tapes, with its products widely used in numerous end markets such as automotive, electronics, medical, construction, and advertising. ATP Adhesive Systems operates across Europe and North America, employing approximately 700 people and projected to achieve sales of around €270 million in fiscal year 2025. The acquisition is subject to customary closing conditions, including regulatory approval. The parties have agreed not to disclose the financial terms of the transaction at this time.

Vioneo Terminates €1.5 Billion Antwerp Project, First Commercial Green Polyolefin Plant Relocates to China

Vynova, a subsidiary of AP Møller Holding, has abandoned its plans to invest 1.5 billion euros in a green polyolefin project in Antwerp, Belgium, and will instead build its first commercial-scale plant in China.

In a statement published on its website on January 16th, the company said, "The company remains firmly committed to bringing fossil-free plastics to market. Therefore, the company will move forward with building a more effective production facility, choosing a location in China near a green methanol supply, as its first commercial-scale production base."

On January 20th, Vioneo's Vice President of Corporate Affairs, Judy Hicks, told Chemical Week that a specific site in China has not yet been selected, adding that the company made the decision to change the project site at the end of 2025.

Hicks stated that the original timeline, capacity, investment size, and technology partners for the renewable olefins and polyolefins project remain unchanged. This 310,000-ton-per-year green polymer complex is scheduled to commence operations in late 2029 or early 2030, consistent with Vioneo's recent statements but later than AP Møller's original plan announced in September 2024, which had targeted commercial operation as early as 2028.

Joby Aviation to Establish Second Factory in Ohio, Implementing Dual-Site eVTOL Production Strategy

Joby Aviation Inc. (Santa Cruz, California, USA) has signed an agreement to acquire a second manufacturing facility in Dayton, Ohio, spanning over 700,000 square feet. The facility is immediately available and will initially support Joby's goal of doubling production to four aircraft per month by 2027, while also providing space for future large-scale expansion. The new factory will complement its existing production bases in California and Ohio and is expected to be operational in 2026.

Infineum, headquartered in the UK, and China's Lianlong have signed a strategic framework agreement.

Infineum, a UK-based leading global lubricant additive supplier and specialty chemicals company, and Rianlon, a Tianjin-based integrated specialty chemicals manufacturer, signed a strategic cooperation framework agreement on January 20, 2026, following the groundbreaking ceremony of Rianlon's R&D and production base in Johor, Malaysia.

This strategic cooperation fully integrates Runyinglian's technological advantages in global formulation development with Liyalong's continuously expanding advantages in single-agent research and development and manufacturing. It is a solemn commitment from both parties to provide excellent lubrication technology, products, and services to the lubricant industry, and to facilitate the rapid upgrading of automotive, marine, and industrial equipment sectors in China and surrounding regions.

Overseas Macro Markets

[ECB Governing Council Member Nagel Says Interest Rate Policy Path May Change Due to US Tariffs] European Central Bank Governing Council member and Bundesbank President Joachim Nagel said that the prospect of new US tariffs could force policymakers to reassess whether the rate-cutting cycle is over. Asked in an interview Wednesday about the potential impact of former US President Donald Trump's threats to impose tariffs on the outlook for borrowing costs, Nagel pointed out that such a scenario could harm the euro economy and prompt policymakers to react. "The current tariff situation is already having a negative impact on economic growth - roughly minus 0.1 percentage point. If this is stepped up, the negative impact will undoubtedly be greater," Nagel said on the sidelines of the World Economic Forum in Davos.

[Indonesian Rupiah Erases Losses, Bank Indonesia Plans Further Market Intervention] The Indonesian Rupiah erased earlier losses after Bank Indonesia announced it would keep interest rates unchanged and plans to increase market intervention to guide the rupiah stronger. USD/IDR fell 0.1% to 16,935.

[China Responds to Whether It Will Consider Trade Negotiations with the U.S.] On January 21, Foreign Ministry Spokesperson Guo JiaKun hosted a regular press conference. A Bloomberg reporter asked, U.S. Trade Representative Katherine Tai stated in Davos that she hopes to hold another round of potential trade negotiations with China. Will China and the U.S. consider holding such a meeting, and where will it be held? "Regarding your question, I suggest you direct specific questions to the relevant Chinese authorities. China and the U.S. should jointly implement the important consensus reached by the two heads of state and inject more stability and certainty into China-U.S. economic and trade cooperation and the world economy," Guo JiaKun said.

[Macron Calls on China to Increase Investment in Europe, Foreign Ministry: Hopes Europe Will Create a Fair and Non-discriminatory Market Environment for Chinese Enterprises] On January 21st, Foreign Ministry Spokesperson Wang Wenbin (Note: The original text states Guo Jiakun, which is likely a typo as Wang Wenbin is the current spokesperson and Guo Jiakun is not a recognized spokesperson) hosted a regular press conference. A reporter from Dubai China-Arab TV asked, French President Emmanuel Macron stated in his Davos speech, "China is welcome, and we need more direct investment from China in Europe." How does China view President Macron's statement?

Israel Says It Will Join Gaza "Peace Committee"

Price information:

The central parity rate of the RMB against the US dollar was set at 7.0014, down 8 pips. The central parity rate of the previous trading day was 7.0006, the official closing price of the previous trading day was 6.9603, and the previous night session closed at 6.9598.

[Upstream raw material dollar market price]

CFR Northeast Asia USD 710/ton, CFR Southeast Asia USD 690/ton.

Northeast Asia propylene FOB Korea average price to $745/ton, CFR China average price to $800/ton.

North Asia CFR, Propane $558-558/MT; Butane $575-578/MT.

South China refrigerated cargo CFR price for early February: Propane $599-609/mt; Butane $594-604/mt.

Taiwan region, frozen cargo landed price: Propane $555-558/ton; Butane $575-578/ton.

[LLDPE USD Market Price]

Film: USD 785/ton (CFR Xiamen)

Injection molding: USD 880/ton (CFR Xiamen)

HDPE USD market price

Film: $890/ton (CFR Huangpu)

Injection molding: 770 USD/ton (CFR Huangpu)

Hollow: USD 795-840/ton (CFR Huangpu)

Pipes: $1000/ton (CFR Huangpu)

[US Dollar Price for LDPE Market]

Film: USD 1010/MT (CFR Huangpu)

Coating: USD 1210/ton (CFR Huangpu).

[PP US dollar market price]

Injection molding: US$800/ton (CFR Dongguan)

Gathering: $860/ton (CFR Nansha)

Film material: $960/ton (CFR Huangpu)

Transparent: USD 1,005/MT (CFR Huangpu);

Pipes: $1100/ton (CFR Shanghai).