【Global News】Huntsman Shuts Down! Severe Congestion at Multiple Ports Worldwide; CARBIOS Signs Contracts with L'Oréal and L'Occitane

News Digest:

Raw Material News-Huntsman Completes European Maleic Anhydride Strategic Review

Auto News-BMW, Mercedes-Mercedes and Volkswagen are in talks with the US Department of Commerce regarding tariffs.

Packaging News-CARBIOS Sign procurement contracts with L'Oréal and L'Occitane.

Macro News-The court overruled! United States Court of International Trade blocks Trump tariff policy takes effect

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

The following are international news details:

1. Huntsman Completes European Maleic Anhydride Strategic Review

Huntsman Corporation (NYSE: HUN) announced today that it has completed the strategic review of its European Maleic Anhydride business. As a result of this review, the Company will close its Maleic Anhydride facility located in Moers, Germany. The closure of the operations at Moers is expected to be complete by the end of the current quarter. In 2024, the European Maleic Anhydride business generated an adjusted EBITDA loss of approximately $10 million. Going forward, the Company intends to serve customers in the European region from its North American facilities located in Pensacola, Florida and Geismar, Louisiana. As a result of the closure of the Moers, Germany facility, Huntsman expects to incur a one-time non-cash asset impairment charge of approximately $75 million during the second quarter of 2025.     

2. BASF intends to take over shares in Alsachimie joint venture from DOMO Chemicals

3. CARBIOS signs its first biorecycled PET sales contracts with two global cosmetics leaders

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, announces the signature of its first multi-year offtake contracts with L'ORÉAL and L'Occitane en Provence for biorecycled r-PET from its future commercial plant in Longlaville.These commercial contracts confirm the demand from global leading brands for recycled and recyclable PET from enzymatic recycling, which enables them to meet both their circularity and quality objectives for their packaging.

4. Borealis and Borouge expand their global capacity for XLPE and semicon compounds

 5. Plugging to July ! Several ports around the world are severely congested

On May 28, local time, Jacques van der Meren, chief executive of the Port of Antwerp-Brugge, Belgium, said to the outside world that affected by the US tariff policy, geopolitical tensions, climate change and other factors, ports across Europe, including Antwerp, are facing serious congestion. Industry analysis predicts that the European shipping bottleneck is expected to continue until July, ' it will take 6 to 8 weeks to control the situation '. At the same time, port congestion may be spreading to ports in China and the United States.

6.Balrampur Chini Mills unveils India’s first PLA brand

7.Stepan Company Announces Polyol Price Increase for North America effective July 1, 2025

Effective July 1, 2025, or as contracts allow, Stepan will increase the price for STEPANPOL® and TERATE® Rigid Polyester Polyols used in the Americas by $0.05 per pound. This increase is necessary due to the continued escalation in raw material costs.

8. BMW, Mercedes, VW in talks with US over possible tariff deal

On May 28, according to media reports, BMW, Mercedes-Benz and Volkswagen are consulting with the U.S. Department of Commerce on tariffs, aiming to reach an agreement in early July. The talks are understood to focus on BMW, Mercedes-Benz and Volkswagen considering investing billions of dollars in the US as part of a potential tariff relief deal.

9. India 's Motherson intends to acquire Marelli
Recently, India 's auto parts giant Motherson submitted a takeover offer to Japan 's Marelli to integrate resources through debt restructuring ( 20 % face value acquisition debt ) to impact the world 's top ten. As the controlling shareholder, KKR will write off the equity, and the creditors ' meeting will be held on May 26. Marilyn is the core supplier of Nissan and Stellantis, and its profit margin is expected to increase in 2024. If the deal succeeds, Motherson 's ranking will jump from 14th. In the past 20 years, the group has acquired 45 enterprises, diversified layout covering aviation, medical and other fields, with a market value of $ 15 billion.

Overseas macro market information:

【Federal court rules Trump overstepped authority! U.S. federal court blocks Trump.tariff policy takes effect】

According to CCTV news, on May 28, local time, CCTV reporters learned that the U.S. Federal Court prevented the tariff policy announced by President Trump on April 2, " Emancipation Day, " and ruled that Trump overstepped his authority and imposed comprehensive tariffs on countries that exported more to the United States than imported. The International Trade Court in Manhattan, New York, said that the U.S. Constitution gives the U.S. Congress exclusive power to regulate trade with other countries, and the president 's emergency powers to protect the U.S. economy are not above these powers. The lawsuit was filed by the Center for Freedom and Justice, a non-profit, non-partisan U.S. litigation agency, on behalf of five small U.S. businesses affected by tariffs, the first major legal challenge to Trump 's tariff policy.

【The United States will review all visa holders associated with Harvard University.】

According to senior officials of the U.S. Department of State, in addition to student visas, the U.S. Department of State will also conduct substantive reviews of B-1 business visas, B-2 travel visas and other visas related to Harvard University. The purpose of the investigation is to identify potential security vulnerabilities or other abuses in the visa system.

【 Macy's plans to raise prices Due to the impact of tariffs 】

Macy 's said on May 28 that it lowered its profit forecast for fiscal year 2025 ( beginning Feb. 2 ) due to tariff hikes and plans to raise the price of the goods it sells. Tony Spring, the chief executive of Macy 's, told the media that about 20 % of the products sold by Macy 's are from China. The impact of tariffs alone has led to a reduction in the company 's earnings per share guidance of $ 0.15 to $ 0.4 this fiscal year. In order to hedge the cost rise caused by tariffs, the company will take a targeted approach to raise prices and may stop selling some goods.

【 Japan 's 30-year bond yield rose 8 basis points to 2.98 %】

As Japan 's ultra-long-term debt continued to fluctuate, Japan 's 30-year bond yield rose. The yield of 20-year Treasury bonds rose 5 basis points to 2.445 %. The auction of 20-year and 40-year Treasury bonds was weak, and 30-year Treasury bonds will be auctioned next week.

【Goldman Sachs recommends buying gold and oil as a long-term hedge.】

Goldman Sachs suggests that gold and oil can be used as tools to fight inflation in long-term investment portfolios, and says that gold is attractive as a safe haven when the outside world is worried about the credibility of US institutions and the ability of crude oil to withstand supply shocks. Analysts such as Daan Struyven said that investors using the so-called 60 / 40 portfolio have always been able to maintain an average annual return, while increasing these two commodities in the long-term configuration can reduce risk.

【The EU and the United Arab Emirates officially launched free trade agreement negotiations】

The EU and the United Arab Emirates officially launched bilateral free trade agreement negotiations on 28 th, creating the possibility for the EU to reach the first comprehensive trade agreement in the Gulf region. The European Commission 's member for trade and economic security, Marosh Chevjovic, and the United Arab Emirates ' Minister of State for Foreign Trade, Sani Ben Ahmed Zeyudi reiterated the common vision of reaching an agreement in Dubai on the same day, and reached an agreement on the road map. The substantive negotiations will be launched as early as June. The first negotiation meeting will focus on reducing commodity tariffs, facilitating services, digital trade and investment flows. The two sides will also explore ways to promote trade in strategic areas such as renewable energy, green hydrogen energy and key raw materials.

Price information:

【Central parity rate of RMB against USD】

The central parity rate of the RMB against the US dollar is reported at7.1907, lower13point; previous trading day's central parity rate7.1894, the previous trading day's official closing price7.1907, the day and night market closed at7.1967。

【Upstream raw material USD market prices】

Ethylene Asia:CFRNortheast Asia780 / CFRSoutheast Asia850 /

Propylene Northeast Asia:FOBSouth Korea average price750 / CFRChina average price785 /

North Asia frozen cargo CIF, propane545.5-547.5 /Ton; butane518.5-520.5 /

South China Frozen Goods6Landed cost under moon, propane618-628 /Ton; butane563-573 /

The landed price of frozen goods in the Taiwan region, propane545.5-547.5 /Ton; butane518.5-520.5 /

【LLDPEUS dollar market price】

Film:880 / CFRHuangpu

Injection molding:970 / CFRDongguan), down20 /

【HDPEU.S. dollar market price】

Film:905-925 / CFRHuangpu), down5 /

Hollow865-870 / CFRHuangpu);

【LDPEUS dollar market price】

Film:1025-1040 / CFRHuangpu, It seems like there's a location "Huangpu" followed by a finance term "". However, the term "" alone doesn't form a complete sentence or phrase with "Huangpu". If you intended to convey a specific message or context involving these terms, please provide additional details. Based on the given characters, the direct translation would be: Huangpu, decline/fall. If "Huangpu" is meant to be part of a larger phrase or sentence, more context is needed for an accurate translation.10 /

【PPUS dollar market price】

Homopolymerization:905-950 / CFRHuangpu);

Gather together:955-1060 / CFRHuangpu;

Membrane material:1025-1090 / CFRHuangpu);

Transparent1095 / CFRHuangpu);

Pipes:1160 / CFR(Shanghai).