【Global News】China and the US Reach Framework Agreement on Trade Talks! The EU Adds New Solvent Restrictions to Its List, Micron Seizes Opportunity in Nvidia's Memory Supply

International News Briefing:

Raw Materials News - China's Trade Representative: China and the US have reached a framework agreement in principle;
Auto News-Tesla's Robotaxi Begins Public Road Testing;
Tech News - Ahead of Samsung and SK Hynix: Report says Micron becomes Nvidia's first SOCAMM supplier;
Medical News - Lubrizol and IMCD Expand Distribution Agreement to Provide Medical-Grade TPU Solutions for the North American Market;
Macro News - The Russian ambassador to the United States said that the two countries are engaged in "pragmatic negotiations";
Price information - CFR Northeast Asia: 780 USD/ton; CFR Southeast Asia: 850 USD/ton

The following are the details of international news:

1.China's chief trade negotiator: China and the US have reached a framework agreement in principle.
On June 10 local time, Li Chenggang, China's deputy minister of commerce and representative for international trade negotiations, said in London that the first meeting of the China-US economic and trade consultation mechanism was professional, rational, in-depth and candid. The two sides have reached a framework in principle on implementing the consensus reached by the two heads of state on June 5 and the Geneva talks.

2. Trump's tariff stick continues! The appellate court rules: It can remain in effect during the appeal period!
According to a report by Bloomberg on June 11th, the US Court of Appeals for the Federal Circuit ruled on Tuesday that the Trump administration can continue to enforce its global tariff policy during the appeal period. This ruling temporarily overturned the previous injunction issued by a lower court. The case was initially brought by New York importers, aiming to challenge the legality of Trump's imposition of tariffs under the emergency act.
The court said the case involves "extremely important issues" and has decided to hold a hearing on July 31. Although the court did not disclose the specific reasons, it believed that the government had met the conditions for suspending the preliminary injunction, and no judge raised any objection. The Justice Department argued that the concerns of US officials about ongoing trade negotiations were more important than the economic losses claimed by the small businesses that filed the lawsuit.

3. Lubrizol and IMCD Expand Distribution Agreement to Offer Medical-Grade TPU Solutions for the North American Market
As a leading provider of medical-grade thermoplastic polyurethane (TPU) solutions, Lubrizol has expanded its distribution agreement with IMCD to meet the demand for medical solutions in the US and Canadian markets. This collaboration aims to extend the mature partnership focused on medical-grade TPU in Europe to North America, helping IMCD enhance market penetration, efficiently manage inventory, and strengthen customer relationships.

4. Agilyx, Green Dot enter PS feedstock agreement for chemical recycling
US-based chemical recycler Agilyx and Germany’s Green Dot Group have signed a memorandum of understanding to source waste polystyrene (PS) feedstock for chemical recycling. Under the agreement, Green Dot will supply Agilyx with an expected 20,000 tonnes of PS feedstock.
5.Two types of solvents, DMAC and NEP, have been included in the REACH restricted substances list by the European Union.
The Official Journal of the European Union has published Regulation (EU) 2025/1090, announcing the revision of Annex XVII to the REACH Regulation by adding new entries 80 and 81, which explicitly include N,N-dimethylacetamide (DMAC) and 1-ethyl-2-pyrrolidone (NEP) in the list of restricted substances. This move aims to enhance worker health protection and reduce the risks associated with these two chemicals in industrial applications. The regulation will come into force on June 23.


6. Development banks invest EUR 3 bn in Clean Oceans Initiative 2.0 As recently announced by the European Investment Bank (EIB), a coalition of public development banks has declared a renewed commitment to fighting marine plastics pollution with the launch of the Clean Oceans Initiative 2.0 (COI 2.0). The expanded programme, unveiled at the ongoing United Nations Ocean Conference in Nice, France (9-13 June), sets a new joint financing target of EUR 3 bn for 2026 to 2030.

7. Tesla's Robotaxi Begins Public Road Testing
The Science and Technology Daily reported on the 11th that Tesla's Robotaxi has recently been tested on public roads in Austin, Texas. The first batch of test vehicles are Model Ys marked with "Robotaxi", accompanied by another Model Y as a monitoring vehicle. According to the company's disclosure, about 10 self-driving cars will be deployed in the initial stage of the Robotaxi test, and the scale will be expanded based on the test feedback.

8. Ahead of Samsung and SK Hynix: Report says Micron becomes Nvidia's first SOCAMM supplier
On June 10th, the South Korean media kedglobal published a blog post, reporting that Micron has taken the lead over Samsung and SK Hynix to become the first supplier of NVIDIA's next-generation memory solution, SOCAMM. Similar to the previous LPCAMM2, SOCAMM currently also features a single-sided four-chip pad and three fixed screw holes design. However, unlike LPCAMM2, SOCAMM has no protruding trapezoidal structure on the top, which reduces the overall height and makes it more suitable for server installation environments and liquid cooling.


Overseas macro market information:

Russia and U.S. Engage in "Pragmatic Negotiations" to Ease Tensions​​
Russian Ambassador to the U.S. Alexander Darchiyev stated that Moscow and Washington are conducting "pragmatic negotiations" to eliminate irritants in bilateral relations, as reported by TASS. Russia aims to establish a non-confrontational coexistence model with the U.S. Bilateral talks, initially held in Istanbul, will now alternate between the two capitals, with the next round scheduled in Moscow. The countries are also expected to soon discuss resuming direct flights.

​​Jinli Permanent Magnet Secures Export Licenses Amid Rare Earth Regulations​​
Jinli Permanent Magnet announced on June 11 via an investor interactive platform that it has obtained export licenses from Chinese authorities following the implementation of medium-to-heavy rare earth export controls. The company now legally exports magnetic materials, components, and motor rotors to regions including the U.S., Europe, and Southeast Asia.

​​Global Wristwear Market Grows 10.5% YoY in Q1 2025, China Surges 37.6%​​
According to IDC’s Worldwide Quarterly Wearable Device Tracker, global wristwear device shipments reached 45.57 million units in Q1 2025, marking a 10.5% year-on-year increase. Key drivers include accelerated shipments in Western Europe, the U.S., Latin America, and Asia-Pacific (excluding India) amid trade tariff adjustments. China’s market grew 37.6% to 17.62 million units, bolstered by national subsidy policies.

​​EU-U.S. Trade Talks Likely to Extend Beyond July 9 Deadline​​
The euro/dollar pair briefly rose to 1.1417 amid reports that the EU expects trade negotiations with the U.S. to extend beyond President Donald Trump’s July 9 deadline. While both sides aim to reach an agreement in principle by July 9 to outline further discussions, the EU acknowledges that finalizing details will require additional time. The U.S. is anticipated to respond to the latest proposals in the coming days.

Price Information:

[USD/CNY Central Parity Rate​​]
The People's Bank of China set the USD/CNY central parity rate at 7.1815, up 25 basis points from the previous trading day's rate of 7.1840. The official closing rate on the prior trading day was 7.1869, while the overnight offshore rate settled at 7.1870.

​​[Upstream Feedstock Prices (USD)​​]

Ethylene (Asia)​​:
CFR Northeast Asia: USD 780/ton
CFR Southeast Asia: USD 850/ton

Propylene (Northeast Asia)​​:
FOB Korea average: USD 700/ton
CFR China average: USD 750/ton

LPG Prices​​:
North Asia CFR:
Propane: USD 541.5–543.5/ton
Butane: USD 511.5–513.5/ton

South China CFR (Early July Delivery):
Propane: USD 595–605/ton
Butane: USD 535–545/ton

Taiwan CFR:
Propane: USD 541.5–543.5/ton
Butane: USD 511.5–513.5/ton

​​[Polyethylene (PE) Prices (USD)​​]

• ​​LLDPE​​:
  Film: USD 895/ton (CFR Huangpu)
  Injection Molding: USD 970/ton (CFR Dongguan)
• ​​HDPE​​:
  Film: USD 900–920/ton (CFR Huangpu)
  Blow Molding: USD 865–870/ton (CFR Huangpu)
• ​​LDPE​​:
  Film: USD 1,025–1,035/ton (CFR Huangpu)
  
  

​​[Polypropylene (PP) Prices (USD)​​]

• Homopolymer: USD 890–935/ton (CFR Huangpu)
• Copolymer: USD 955–1,060/ton (CFR Huangpu)
• Film Grade: USD 1,025–1,090/ton (CFR Huangpu)
• Transparent Grade: USD 1,085/ton (CFR Huangpu)
• Pipe Grade: USD 1,160/ton (CFR Shanghai)