International Highlights Digest:
Raw Material News - Dow's Zhangjiagang Production Base Silicone Expansion Project Commences Operation
Automotive News - Hyundai to Increase Prices by up to 3% in India
Packaging News - India's Largest Packaging Company Expands to Mexico
Auxiliary News - International titanium dioxide giant Tronox launches blue titanium dioxide for plastic applications
Medical Highlights - Trump's Tariff Policy Impacts Medical Technology Industry, Supply Chain Costs May Surge a Hundredfold!
Market news highlights - SWIFT: In February, the RMB ranked as the fourth most active currency globally, with a share of 4.33%
Market price highlights - Ethylene Asia: CFR Northeast Asia $855/ton; CFR Southeast Asia $920/ton.
The following are the details of international news:
Arkema, this new material project is completed!
On March 18, Arkema announced that the first phase of the mega project at its Carling acrylics plant in France has been successfully completed. The project, which began in 2024, will be put into operation in 2026. This large-scale industrial project (with an investment of 130 million euros) involves the construction of a new facility using an innovative acrylic purification process, which will improve energy efficiency (by 25%) and operational carbon intensity (by 20%), optimize resource and waste management, and increase the production capacity of the plant.
2, 1 billion USD! Indian petrochemical company plans to invest 1 billion USD in building a polycarbonate plant in West Bengal
India's leading petrochemical producer Haldia Petrochemicals Ltd (HPL) plans to establish a polycarbonate production plant in West Bengal with a capital expenditure of $1 billion (approximately ₹870 billion). The company intends to utilize the idle land at its existing site in Haldia, indicating its further diversification into downstream chemical businesses.
3, Dow's Zhangjiagang production base silicone expansion project put into operation
Dow's Zhangjiagang production base silicone downstream product expansion project officially commenced production today. This project, which started in 2023, is part of the silicone expansion project at the Zhangjiagang base. Dow has completed the expansion of silicone resins and polymer intermediates, as well as several silicone downstream product projects at the Zhangjiagang production base. The newly commissioned silicone downstream products aim to serve the continuously growing electronics, transportation, renewable energy, packaging, and construction markets, enhancing Dow's capability to serve the Asia Pacific market and customers, and also highlighting the importance of the Asia Pacific region in Dow's global growth strategy.
4, Trump's tariff policy impacts the medical technology industry, supply chain costs may surge a hundredfold!
The Trump administration's capricious tariff policies are putting the manufacturing sector on edge. Previously, we have extensively covered how the automotive industry and its supply chains in Mexico and Canada would respond if the tariff threats were to materialize. Among these, the potential impact on "industrial tourism" (i.e., the multiple cross-border transports of parts or components before final assembly into a vehicle) is particularly thorny - would taxes be levied each time they cross the border? If so, car prices could skyrocket. Although the medical device industry has not received the same level of attention, several financial experts and business analysts have pointed out that it too would not escape the broad impact of the tariffs.
5, International titanium dioxide giant Tronox launches blue titanium dioxide pigment for plastic applications
International titanium dioxide giant Tronox Holdings has launched a blue-toned titanium dioxide pigment that provides excellent coloring strength, processability, and color stability in plastics. Tronox states that the TiONA 233 pigment is designed to meet the demanding requirements of the plastics industry, offering unparalleled performance and reliability. This hydrophobic blue-toned pigment is classified as a semi-durable masterbatch and compound product, providing optical efficiency, dispersibility, and processing performance.
6, Hyundai will increase prices by up to 3% in India
According to foreign media reports, on March 19th, Hyundai Motor India stated that due to the continuous rise in raw material and operational costs, the company will increase car prices starting from April this year, with the maximum increase being 3%. It is understood that the price hike for different models will vary. This is the second price increase by Hyundai Motor India since its initial public offering (IPO) in October 2024. Previously, the company had raised prices across all models in December 2024, with the highest increase being 25,000 rupees.
7, Greif ramps up plastic containers and closure business
Grief, known for its large plastic, steel, and cardboard industrial containers, is increasing its investment in plastic products. The industrial packaging company has set ambitious plans to significantly boost sales and profits, and it believes that the plastic container business will play a key role in this growth. Headquartered in Delaware, Ohio, Grief is a global enterprise with operations in 35 countries, employing over 14,000 people, and achieving annual sales of $5.45 billion.
8, Reborn After the Fire! Suez's 30 Million Pound Super Recycling Plant is About to be Completed!
The reconstruction of Suez Group's material recovery facility is nearing completion. After a fire in 2022, the reconstruction began last year, and now the exterior of the building has been completed, with internal contractors working on site. Suez Group manages waste and recycling on behalf of Aberdeen City Council. Once reconstruction is complete, the material recovery facility (MRF) will be able to process approximately 60,000 tons of recyclables annually, including glass, cardboard, newspapers, plastics, and metals, sourced from households across Aberdeen and Scotland.
9, Waste plastic pyrolysis company completes $50 million in financing!
Recently, the US waste plastic pyrolysis company Freepoint Eco-Systems announced that its plastic waste recycling facility in Hebron, Ohio, has completed a $50 million non-recourse project financing. The term loan was underwritten by ING Capital LLC ("ING") and is the first of its kind for hard-to-recycle plastics in the plastic recycling sector.
10, India's largest packaging company enters Mexico
Recently, UFlex Ltd, India's largest integrated flexible packaging and solutions provider, announced that it will invest in setting up a factory in Mexico specifically for the production of polypropylene woven bags (WPP) for pet food. This factory is expected to have a total investment of 50 million US dollars, making it the first WPP packaging plant in Mexico dedicated to pet food packaging. Ashok Chaturvedi, Chairman and Managing Director of the UFlex Group, said: "We are very pleased to announce this significant investment. The pet food market in North and South America has broad prospects, and we hope to further strengthen UFlex's competitiveness in the American market through this establishment." Chaturvedi also specifically pointed out that the current pet food market size in North and South America is expected to reach about 90 billion US dollars by 2025, and is projected to grow to about 135 billion US dollars by 2030. UFlex's move to set up a factory in Mexico is precisely targeting this rapidly growing market.
Overseas macro market information:
Rice prices hit new highs, Japanese government to release additional 70,000 tons of reserve rice
A new survey in Japan shows that the country's wholesale rice prices have hit record highs for six consecutive months. Even after the government announced the release of the first batch of 140,000 tons of reserve rice, the upward trend has not been effectively curbed. On the 19th, the Japanese government announced that it would release an additional 70,000 tons of reserve rice to the market.
[SWIFT: In February, the RMB ranked as the fourth most active currency globally, with a share of 4.33%]
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) released its monthly report and data statistics on the 20th, showing that in February, the renminbi ranked as the fourth most active currency globally in terms of payment value, with a share of 4.33%. After an investigation, the Indian trade authority preliminarily decided to set the validity period of the additional tariffs on imported steel products to 200 days. The relevant departments will make a final decision after 30 days of consultation and public hearings.
[Trump Urges Fed to Cut Interest Rates]
On the 19th local time, US President Trump urged the Federal Reserve to cut interest rates, stating that US tariffs were beginning to affect the economy. Earlier in the day, the Federal Reserve announced it would keep the target range for the federal funds rate unchanged at 4.25% to 4.50%.
BlackRock says the number of rate cuts by the Fed may be less than market expectations
The BlackRock Investment Institute said that, considering the risk of inflation rising, the number of interest rate cuts by the Federal Reserve may be less than market expectations.
[Germany announces February PPI data]
Germany's February PPI year-on-year 0.7%, expected 1%, previous value 0.5%. Germany's February PPI month-on-month -0.2%, expected 0.2%, previous value -0.1%.
price information:
The central parity rate of the RMB against the US dollar was adjusted down by 57 points to 7.1754, the lowest since January 20th.
The central parity rate of the RMB against the US dollar is 7.1754, down by 57 basis points; the previous trading day's central parity rate was 7.1697, the official closing price of the previous trading day was 7.2363, and the night session of the previous day closed at 7.2280.
upstream raw material USD market price
Ethylene Asia: CFR Northeast Asia $855/ton; CFR Southeast Asia $920/ton.
Propylene Northeast Asia: FOB Korea average price 810 USD/ton; CFR China average price 830 USD/ton.
North Asia frozen cargo CIF price, propane 597-599 USD/ton; butane 584-586 USD/ton.
South China frozen cargo April lower arrival price, propane 597-599 USD/ton; butane 587-589 USD/ton.
Taiwan region frozen goods CIF price, propane 597-599 USD/ton; butane 584-586 USD/ton.
LLDPE USD market price
Film: 960 USD/ton (CFR Huangpu);
Injection Molding: 1010 USD/ton (Dongguan Bonded Zone Spot)
HDPE dollar market price
Film: 935-950 USD/ton (CFR Huangpu);
Hollow: 900-970 USD/ton (CFR Huangpu);
Injection molding: 830 USD/ton (CFR Huangpu).
LDPE US dollar market price
Film: 1135-1155 USD/ton (CFR Huangpu), down 5 USD/ton;
Coating: 1360 USD/ton (CFR Huangpu).
【PP USD market price】
homopolymer: 955-985 USD/ton (spot)
Co-polymer: 990-1060 USD/ton (CFR Huangpu spot);
Film material: 1030-1105 USD/ton (CFR Huangpu);
Transparent: $1020/ton (CFR Huangpu spot), up $10/ton;
Pipe material: 1160 USD/ton (CFR Shanghai).
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