Europe's Largest! BASF Officially Commissions New Facility; Volkswagen Restructures German Operations; Cadbury Launches Recyclable Packaging

Global News Digest:

Raw Material News- Europe's Largest! BASF Officially Commissions Black Mass Plant​

Auto News- Volkswagen Restructures German Operations: 20,000 Employees Agree to Early Departure

Packaging News-Tech Revolutionizes Packaging: Starbucks Launches Compostable Cup Across Europe

Electronic News- Smartphone Market Stagnates: Q1 2025 Growth at Just 0.2%

Macro News- Mexico to Seek U.S. Exemption from Steel Tariff Hike

Price Information-Ethylene Asia: CFR Northeast Asia780 / CFR Southeast Asia850 /

The following are details of international news:

1.Europe's Largest! BASF Officially Commissions Black Mass Plant​

June 3rd​​ – BASF announced the successful commencement of commercial operations at its Black Mass plant in Schwarzheide, Germany. This advanced facility represents a significant milestone for BASF's battery recycling business. It is one of Europe's largest commercial Black Mass plants, with an annual processing capacity of up to 15,000 metric tons of end-of-life lithium-ion batteries and production scrap. This capacity is equivalent to processing approximately 40,000 electric vehicle batteries per year.

2 Sika and Sulzer to establish plastics recycling JV for the construction sector

Sika AG (Baar, Switzerland) and Sulzer Ltd. (Winterthur, Switzerland) have signed a memorandum of understanding to establish a joint venture (JV) to advance plastics recycling in the construction industry. The aim is to combine the strengths of both companies: Sika’s extensive expertise in polymer applications and high performance building materials and Sulzer’s leading process knowledge in chemical recycling. The joint venture, based in the Zurich area, will be founded as an independent company, with each partner holding a 50 percent stake. Operational activities will commence in the second half of 2025 with pilot projects in Germany, Austria and Switzerland.

3. Cadbury Launches Packaging with 80% Recycled Plastic​​
Recently, Mondelēz International's iconic chocolate brand ​​Cadbury​​ has unveiled a major upgrade in the UK market: its ​​sharing-size chocolate bars​​ will now use new packaging containing ​​80% recycled plastic​​. This initiative not only demonstrates Cadbury’s firm commitment to sustainability but will also annually provide ​​over 300 million chocolate bars​​ with a "green coat."The shift is projected to ​​reduce virgin plastic usage by ~600 metric tons per year​​ — equivalent to the weight of ​​40 double-decker buses​​. This marks ​​the highest proportion of recycled plastic ever used in Cadbury's global packaging

4. Premix Group opens plastics manufacturing plant in North Carolina

Premix Group, a global leader in electrically conductive plastics, announced the opening of its state-of-the art US manufacturing facility in Apple Creek, North Carolina. With a $79 Million investment from the Department of Defense (DoD) and Health and Human Services (HHS), this facility represents a major step in securing the domestic supply chain for critical diagnostics and other high-impact applications.

5. Brazilian Billionaire Moves: Battle for Control of Petrochemical Giant Braskem Intensifies

Braskem, one of South America's largest petrochemical companies, is at the center of a potential power shift. According to Brazilian financial media, Braskem's major shareholder ​​Novonor​​ has confirmed receiving a ​​non-binding acquisition proposal​​ for the company's controlling stake. The offer comes from an investment fund managed by Brazilian billionaire ​​Nelson Tanure​​, known for high-profile acquisitions. If successful, this move could restructure ownership of one of the Americas' most prominent plastic producers.

6. Volkswagen Restructures German Operations: 20,000 Employees Agree to Early Departure

On June 4, Bloomberg reported that ​​Volkswagen AG​​ will cut ~20,000 jobs in Germany through ​​voluntary early departures by 2030​​. At a Wolfsburg workers' assembly, HR Chief ​​Gunnar Kilian​​ stated the company had achieved significant cost reductions at six German plants while implementing layoffs "in a socially responsible manner." As Europe's largest automaker, VW faces rising costs, weak European demand, and fierce competition from Chinese rivals, necessitating production capacity and workforce reductions.

7. Rare Earth Crisis: China’s Export Restrictions Threaten German Auto Production

Germany’s ​​Automotive Industry Association (VDA)​​ warned on June 3 that China’s controls on ​​rare earth exports​​ could halt German auto production. VDA President ​​Hildegard Müller​​ noted that slow export license approvals and customs delays are disrupting supplies of critical vehicle components. This marks the first formal warning from Germany’s auto sector about production risks due to rare earth shortages.

8. Tech Revolutionizes Packaging: Starbucks Launches Compostable Cup Across Europe

​​Starbucks​​ has partnered with ​​Metsä Board​​, ​​Transcend Packaging​​, and ​​Qwarzo​​ to launch a ​​home-compostable coffee cup​​ with a plastic-free lid in 10 European countries. The cup features a mineral-based coating (developed by Italy’s Qwarzo) that provides heat/water resistance while enabling recyclability. The fiber-based lid eliminates single-use plastic. Rollout includes Italy, Germany, France, Sweden, Switzerland, Austria, Spain, Portugal, and Hungary.

9. Smartphone Market Stagnates: Q1 2025 Growth at Just 0.2%

Per ​​Canalys​​ (now part of ​​Omdia​​), global smartphone shipments grew marginally (0.2%) to ​​296.9 million units​​ in Q1 2025, marking three consecutive quarters of slowing growth as replacement cycles plateau. ​​Samsung​​ led with 60.5M units, followed by ​​Apple​​ (55M, 19% share) and ​​Xiaomi​​ (41.8M, 14%). ​​Vivo​​ (22.9M) and ​​OPPO​​ (22.7M) ranked fourth and fifth.

Overseas macro market information:

【Citigroup: High Upside Potential for Chinese NEV Makers in June​】 ​
Citigroup notes that most new energy vehicle (NEV) brands saw ​​week-on-week order recovery​​ last week. Coupled with recent ​​promotional campaigns​​ by automakers, June presents significant upside potential.

【Lee Jae-myung Sworn In as South Korea’s President​】

Lee Jae-myung was formally ​​sworn in​​ as South Korea’s 21st president at the National Assembly on June 4. His term began at 6:21 a.m. local time, following confirmation by the ​​National Election Commission​​. 

【Mexico to Seek U.S. Exemption from Steel Tariff Hike】

Mexican Economy Minister ​​Marcelo Ebrard​​ stated Mexico will request a U.S. exemption from the planned 50% steel tariff this week. Ebrard will meet U.S. officials in Washington on Friday and warned Mexico has a "​​Plan B​​" if tariffs proceed.

【AliExpress Opens to Local Merchants in Poland​】

Following Germany, Alibaba’s AliExpress has ​​opened to local Polish merchants​​. Industry sources confirm the move aims to expand local business operations after attracting major Polish enterprises over the past year. 

【Canadian Wildfires Spread; Saskatchewan to Evacuate Thousands​】

Wildfires continue to spread across Canada. Saskatchewan’s Premier confirmed ​​thousands more evacuations​​ are imminent in the province’s north, adding to the 9,000 already displaced. Total evacuees may reach ​​15,000​​, with 400+ structures destroyed. 

【Vietnam’s Exports Grow 14% YoY in May​】

Vietnam’s May exports rose ​​14% year-on-year​​, with a ​​trade surplus of $4.67 billion​​. 

Price information:

【USD/CNY Central Parity Rate​】

Central Parity Rate​​: 7.1886 (down 17 pips)

Previous trading day: 7.1869

Official closing price: 7.1895

Overnight settlement: 7.1878

【Upstream Raw Material Prices (USD)】

Ethylene Asia:CFRNortheast Asia780 / CFRSoutheast Asia850 /

Acrylic Northeast Asia:FOB Average price in South Korea745 / CFRAverage price in China775 /North Asia frozen cargo CFR, propane545-547 /Ton; Butane514-516 /

South China Frozen Goods7FOB price, propane603-613 /Tons; Butane538-548 /

The arrival price of frozen goods in the Taiwan region, propane545-547 /Tons; Butane514-516 /

【LLDPE market price（USD）】

Film grade​​:875 / CFRHuangpu);

​​Injection grade：970 / CFRDongguan

【HDPE market price（USD）】

Film grade​​ : 900-920 / CFRHuangpu);

Blow molding grade​​:  865-870 / CFRHuangpu)

【LDPE market price(USD)】

​​Film grade​​:  1025-1035 / CFRHuangpu);

【PP market price（USD）】

Homopolymer​​:  890-935 / CFRHuangpu)(↓15/mt)

Copolymerization: 955-1060 / CFRHuangpu;

Film grade​​:  1025-1090 / CFRHuangpu);

​​Transparent grade​​:  1085 / CFRHuangpu);

​​Pipe grade​​:  1160 / CFR(Shanghai).