Dow Shuts Down Three Major Chemical Plants in Europe! India Initiates Anti-Dumping Investigation on Polyethylene from Six Countries; Hikvision formally Sues

News Highlights:

Raw Material News - Dow Shuts Down Three Major Chemical Plants in Europe

Automotive News - Hyosung Advanced Materials Launches Restructuring of North American Airbag Business

Packaging News - Bookoff Plans to Step Up Recycling of Unsold CDs and DVDs

Electronic News - Fully Blocked by Canadian Government! Hikvision: Has Filed a Lawsuit

Other News - Chinese Companies Install the World's Largest Diameter Flexible Pipeline in Saudi Arabia

Macro News - US Media: US Treasury Secretary Says Talks with China Planned in Coming Weeks to Promote Consultations on Sino-US Trade and Other Issues

Price Information - Ethylene Asia: CFR Northeast Asia 820 USD/ton, Down 30 USD/ton

The following is the details of international news:

1.Dow to Shut Down Three Major Chemical Plants in Europe

On July 7, Dow announced that its board of directors has approved the closure of three European upstream assets to address structural challenges in the region and optimize profitability. The assets to be closed include:

• Packaging and Specialty Plastics: Ethylene cracker in Böhlen, Germany, scheduled to close in Q4 2025;
• Industrial Intermediates & Infrastructure: Chlor-Alkali and Vinyl (CAV) assets in Schkopau, Germany, scheduled to close in Q4 2025;
• Performance Materials & Coatings: Basic siloxane plant in Barry, UK, scheduled to close in mid-2026.

It is understood that the shutdown will affect approximately 800 Dow positions, part of the company's $1 billion cost-saving initiative announced in January, which includes cutting about 1,500 global positions.

2. PureCycle partners with Emerald Carpets to close the loop in carpet production

PureCycle Technologies, Inc., a U.S.based company revolutionizing plastic recycling, announced a partnership with Emerald Carpets. This collaboration aims to transform the trade show carpet industry by creating closed-loop circularity in carpet production.The partnership includes PureCycle recycling used trade show carpets from Emerald Carpets, designed to transform the material into purified fiber-grade recycled polypropylene (rPP) pellets. Successful recycling of the materials would allow Emerald Carpets to then manufacture new carpets out of the rPP, creating a sustainable carpet-to-carpet solution. This should allow Emerald Carpets to meet California’s carpet-to-carpet (closed loop) recycled content requirements that go into effect in 2028.

3. India Initiates Anti-Dumping Investigation on Polyethylene from Six Countries

Recently, India's Directorate General of Trade Remedies (DGTR) issued an official announcement stating that, in response to a complaint from the Indian Chemicals and Petrochemicals Association, it has decided to launch an anti-dumping investigation into polyethylene imports from Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

4. Borealis wins patent dispute against Mitsui Chemicals

The European Patent Office (EPO) has ruled in favour of Borealis in a dispute with Japan-based Mitsui Chemicals.The ruling allows Borealis to continue manufacturing its polyolefin elastomer (POE) film for solar cells. The material is used as an encapsulant to protect solar cells from environmental damage and improve their long-term performance. It acts as a sealant and adhesive, holding the solar cell layers together while also providing crucial protection against moisture, temperature fluctuations, and UV radiation.

5. Hyosung Advanced Materials Launches Restructuring of North American Airbag Business

Hyosung Advanced Materials is restructuring its US airbag subsidiary, GST Automotive Safety Components International (GST), aiming to expand the production and sales of airbag cushions and fabrics in North America.As part of this restructuring, GST will acquire "all assets, contracts, rights, employees, and related liabilities" involved in the production and sales of airbag cushions and fabrics from HS Hyosung USA Holdings, Inc. The South Korean supplier stated on July 4th, 2025, that this move will integrate its airbag business in the United States and enhance corporate value by consolidating the business into a single entity. After the restructuring, the GST business unit and GST Mexico shares held by HS Hyosung USA Holdings, Inc. will be merged into GST Global GmbH.

6. Hugo Boss Collaborates with Zellerfeld to Launch a Fully 3D-Printed Loafer

German fashion brand Hugo Boss recently launched a fully 3D-printed loafer. This loafer, created in collaboration with footwear 3D printing factory Zellerfeld, brings a new silhouette design to the diversified footwear market - it not only inherits the classic loafer style but also incorporates a sleek, tech-inspired structure.The 3D-printed loafer made its debut at the NAMESAKE collection fashion show during Paris Fashion Week. Its unique design includes an integrated structure and is made from a single recyclable material. The shoe body uses zellerFOAM flexible material based on thermoplastic polyurethane (TPU), whose physical properties can be precisely adjusted through design.

7.RecyClass publishes Recyclability Evaluation Protocols for automotive and E&E sector

The first set of RecyClass Recyclability Evaluation Protocols for Automotive and Electrical & Electronic Equipment (EEE) has been published following intense collaboration with the plastic value chain.

Grounded in the European state-of-the-art recycling infrastructure, the protocols focus on polymers that are commonly recovered and recycled in these industries. These include polypropylene (PP), mineral-filled polypropylene (PP-MF), acrylonitrile butadiene styrene (ABS), polystyrene (PS), polyethylene (PE) and polycarbonate-acrylonitrile butadiene styrene blend (PC-ABS).

8. Chinese Enterprise Installs World's Largest Diameter Flexible Pipeline in Saudi Arabia

Recently, the Saudi Jizan Industrial City seawater cooling project, undertaken by China Harbour Engineering Co., Ltd. and constructed by CCCC Fourth Harbor Engineering Co., Ltd., completed the shipment and installation of 3.5-meter diameter high-density polyethylene (HDPE) pipelines in unprotected sea areas, marking the successful installation of the world's largest diameter flexible pipeline.

9. Bookoff plans to step up recycling of unsold CDs and DVDs

Secondhand goods retailer Bookoff Group Holdings will step up its efforts to recycle CDs and DVDs into daily items.Bookoff annually disposes of 1,700 tons of unsold discs and cases from some 800 outlets across the country.

10.  Fully Blocked by Canadian Government! Hikvision: Has Filed a Lawsuit

In response to the Canadian government's shutdown of Hikvision's operations in Canada, Huang Fanghong, Chief Compliance Officer of Hikvision, stated on social media on the morning of July 8th that the company had formally filed a lawsuit with the Federal Court of Canada on July 7th (Eastern Time in Canada), requesting the initiation of judicial review procedures, and had applied to the Federal Court of Canada for an interim injunction to suspend the shutdown order. Currently, Hikvision Canada has resumed normal operations.

Overseas macro market information:

【Morgan Stanley: Trump's Tariff Letters May Mean Tactical Escalation of Trade Negotiations】

Economists at Morgan Stanley said that US trade negotiations are moving towards a tactical escalation. The bank's report stated that if the latest tariffs proposed by the Trump administration in letters to trading partners take effect, Asia's weighted average tariff will rise to 27%. However, Trump has stated that the US is about to reach an agreement with India. Morgan Stanley said this indicates that most major Asian economies will be able to reach agreements before the August 1 deadline. But Japan and South Korea may not be able to resolve key issues through negotiations. Morgan Stanley said these issues include Japan's automobile tariffs and agricultural product issues, as well as South Korea's automobile and steel tariff reduction issues.

【Japanese Prime Minister Calls Trump's Tariff Letter Regrettable】

In response to the tariff-related letters sent by US President Trump to Japan and other parties, Japanese Prime Minister Shigeru Ishiba said today that the information released by the US is regrettable. Shigeru Ishiba stated that he will continue to negotiate with the US on tariffs.

【US Media: US Treasury Secretary Says Talks with China Planned in Coming Weeks to Promote Consultations on Sino-US Trade and Other Issues】

According to Bloomberg, US Treasury Secretary Janet Yellen said on July 7th local time that she expects to meet with Chinese officials in the coming weeks to promote consultations between China and the US on trade and other issues. "I will meet with my Chinese counterpart sometime in the next few weeks," Yellen said in an interview with CNBC. "We had good talks in Geneva and London before, and both sides maintained a highly respectful attitude." "If China is willing, China and the US can cooperate in more fields," Yellen said, adding that the two sides will discuss expanding the scope of cooperation from trade to other fields.

【RBA Unexpectedly Keeps Key Interest Rate Unchanged, AUD Rises】

The Reserve Bank of Australia kept its key interest rate unchanged at 3.85%. Only 5 out of 32 economists predicted this decision, and traders were also caught off guard. The RBA has cut interest rates twice during this easing cycle. Given the tight labor market and weak productivity growth, economists had previously debated the extent to which the central bank might cut interest rates further. After the interest rate announcement, the Australian dollar rose, and the policy-sensitive Australian 3-year government bond yield rose 5 basis points to 3.42%. Money markets had bet that the cash rate would fall below 3% by February 2026. Economists had expected two more rate cuts this year, with the cash rate falling to 3.35%, followed by a pause.

【Thai Acting Prime Minister: US Tariff Policy Announced on 7th Contradicts Previous Negotiations】

Thai Acting Prime Minister Prayut Chan-o-cha said on the 8th that the US tariff policy announced on the 7th contradicts the content of previous negotiations between the two sides, and he said he will further discuss with relevant Thai parties and prepare for continued negotiations. On July 7th local time, US President Trump said that a 36% tariff will be imposed on imported products from Thailand starting from August 1st.

【Myanmar to Propose to US to Seek Reduction of Trade Tariffs】

Myanmar's Deputy Minister of Commerce Min Min said that the Myanmar military government will propose to the Trump administration to reduce the US tariff on Myanmar goods by 40%. Min Min said on Tuesday that Myanmar's Ministry of Commerce, Ministry of Finance, and Ministry of Investment are coordinating with the Myanmar Embassy to formulate this proposal, but did not provide details. Min Min said that the Myanmar authorities had previously sent a negotiation letter to the US Department of the Treasury during the 90-day tariff suspension period.

【Argentina Makes Negative Final Ruling in Anti-Dumping Sunset Review on Chinese-Related Household Aluminum Radiators】

According to China Trade Remedy Information Network, on July 7th, the Ministry of Economy of Argentina issued Announcement No. 935 of 2025, making a negative final ruling in the anti-dumping sunset review on aluminum radiators originating from China and Italy, deciding to terminate the anti-dumping measures on the products; at the same time, it terminated the anti-circumvention investigation on Chinese  products and will not impose anti-dumping duties.

Price Information:

【RMB/USD Central Parity Rate】

The central parity rate of RMB against the US dollar was reported at 7.1534, down 28 points; the central parity rate of the previous trading day was 7.1506, the official closing price of the previous trading day was 7.1747, and the night session closing price of the previous day was 7.1750.

【Raw Material USD Market Price】

• Ethylene Asia: CFR Northeast Asia 820 USD/ton, down 30 USD/ton; CFR Southeast Asia 830 USD/ton, down 30 USD/ton.
• Propylene Northeast Asia: FOB South Korea average price 745 USD/ton, down 5 USD/ton; CFR China average price 795 USD/ton, down 10 USD/ton.
• Northeast Asia frozen cargo CIF price: propane 528-530 USD/ton; butane 503-505 USD/ton.
• South China frozen cargo CIF price for early August: propane 557-567 USD/ton; butane 522-532 USD/ton.
• Taiwan region frozen cargo CIF price: propane 528-530 USD/ton; butane 503-505 USD/ton.

【LLDPE USD Market Price】

• Film: 875-920 USD/ton (CFR Huangpu), down 10 USD/ton;
• Injection molding: 940 USD/ton (CFR Dongguan);

【HDPE USD Market Price】

• Film: 910-930 USD/ton (CFR Huangpu);
• Blow molding: 860-870 USD/ton (CFR Huangpu);

【LDPE USD Market Price】

• Film: 1080-1090 USD/ton (CFR Huangpu);
• Coating: 1350 USD/ton (CFR Huangpu);

【PP USD Market Price】

• Homopolymer: 935-980 USD/ton (CFR Huangpu);
• Copolymer: 965-995 USD/ton (CFR Huangpu);
• Film grade: 1000 USD/ton (CFR Huangpu);
• Transparent grade: 1085 USD/ton (CFR Huangpu);
• Pipe grade: 1160 USD/ton (CFR Shanghai).