【Global News】Mitsui Chemicals Makes Another Sale! Nissan Forecasts a Loss of 20 Billion JPY in Q2, Alpla Completes New Acquisition

International News Digest: 

Raw Materials News:Mitsui Chemicals Sells Again, Sinopec Takes Over

Automotive News:Natural Fiber Materials Adopted! New BMW i3/iM3 Details Revealed

Packaging News: Alpla expands injection moulding with KM Packaging acquisition

Healthcare News:Covestro Achieves Localized Production of Medical-Grade TPU in Asia-Pacific for the First Time

Macro News:Iran Vows to Take Measures to Ensure Continuation of Nuclear Program

Price Information:Ethylene Asia: CFR Northeast Asia 845/ton,up5/ton

International News Details: 

Mitsui Chemicals Sells Again, Sinopec Takes Over

On June 24, Mitsui Chemicals announced that its board of directors had formally resolved to transfer its entire 50% stake in Sinopec Mitsui Chemicals Co., Ltd. (SSMC) to Shanghai Gaoqiao Petrochemical Co., Ltd. The transaction is expected to be completed by October 2025.

This equity transfer is the latest move in Mitsui Chemicals' global strategic adjustment. Facing shrinking demand in the Japanese domestic market and intensified overseas competition, Mitsui Chemicals is gradually exiting traditional basic chemical businesses to focus on green chemicals and high-performance materials.

SSMC, established in April 2006, primarily produces basic chemical products such as phenol, acetone, and bisphenol A. In recent years, the company's performance has continued to decline, with a loss of ¥10.6 billion in FY2025, which is the main reason for Mitsui Chemicals' divestment. 

Lotte Chemical and HD Hyundai Plan to Merge Daesan Cracker Facilities

Recently, South Korea's Lotte Chemical and HD Hyundai Group announced plans to integrate their naphtha cracker facilities in Daesan, South Korea, aiming to address the challenges of low profitability in the country's petrochemical industry.

The two companies are currently negotiating the merger of their respective petrochemical assets in the Daesan region, with valuations being conducted by a major accounting firm. Insiders stated that "nothing has been finalized yet, and everything is under review."

The integration of the two plants is expected to streamline operations, after which the companies will gradually shut down redundant facilities to reduce output and improve efficiency.

Covestro Achieves Localized Production of Medical-Grade TPU in Asia-Pacific for the First Time

Covestro announced that it has commenced production of medical-grade thermoplastic polyurethane (TPU) Desmopan® Rx series at its Changhua base in Taiwan, marking the first localized production of this high-standard material in the Asia-Pacific region. This will enable more flexible and efficient supply to meet growing market demand.

Changhua is Covestro's second global base, after the New Martinsville facility in North America, to receive certification for medical-grade TPU production.

Alpla expands injection moulding with KM Packaging acquisition

Austrian packaging manufacturer Alpla its strengthening its injection moulding division, Alplainject, with the acquisition of KM Packaging.

Based in Ubstadt-Weiher, Germany, KM Packaging manufacturers closures for tubes, bottles, and jars at six sites across Germany, Austria, Poland, and the United States. The company producers over 6.5 billion injection-moulded parts per year.

Continental’s Automotive Group Establishes Advanced Electronics & Semiconductor Solutions (AESS) Division

On June 25, Tier 1 automotive supplier Continental announced that its Automotive Group, which is set to be spun off into an independent company named Aumovio Group, has established the Advanced Electronics & Semiconductor Solutions (AESS) division.

AESS will independently design and validate automotive semiconductor products, primarily to meet internal demand. GlobalFoundries (GF) will serve as AESS's exclusive semiconductor chip manufacturing partner, with dedicated production lines to be established.

 Nissan Motor: Q2 Forecasts ¥200 Billion Loss

According to Kyodo News on June 25, Nissan Motor Co. stated on June 24 that its consolidated financial results for Q2 2025 (April–June) are expected to show an operating loss of ¥200 billion (approximately RMB 9.9 billion).

Nissan reported a profit of ¥900 million in the same period last year. The sharp increase in losses is attributed to sluggish sales in key markets (China, the U.S., and Japan) and the impact of high tariffs imposed by the Trump administration.

In May, Nissan announced large-scale restructuring measures, including global layoffs of 20,000 employees and the closure of seven plants.

Natural Fiber Materials Adopted! New BMW i3/iM3 Details Revealed: Expected Launch in 2026

Recently, details about the new BMW i3 and iM3 models, including configurations and production plans, were revealed. The BMW iM3 is expected to feature a quad-motor setup with over 700 horsepower.

Notably, the car's interior will incorporate a newly developed natural fiber composite material by BMW. Developed in collaboration with a Swiss company, this material is made from flaxseed and boasts strength comparable to carbon fiber while reducing CO2 emissions during production by 40%. It may be used for bucket seats and other interior components.

Fiat Incorporates Recycled Materials from Beverage Cartons in Vehicle

With the launch of the latest model of Fiat Grande Panda, Fiat claims it has become the first car manufacturer to incorporate recycled materials from used beverage cartons in a vehicle.Each Fiat Grande Panda contains recycled material from the thin layers of polyethylene and aluminium used in 140 beverage cartons. This recycled material is used in the central console, dashboard, interior front and rear door panels.

Avantium Secures €10 Million Financing to Address Short-Term Liquidity

On June 23, Avantium announced that it had secured €10 million in financing to address short-term liquidity issues. The financing includes a €4 million subordinated loan from the Province of Groningen and a €6 million increase in senior bonds from banks (Invest-NL, ABN AMRO, ING, ASN, Rabobank).

The €10 million financing provides short-term liquidity while the company explores medium- to long-term funding options. Avantium is also in talks with external parties regarding the partial or full transfer of its R&D solutions and Volta technology, which may involve asset divestment and/or strategic partnerships to support further development.

Overseas Macro Market Information: 

[Iran Vows to Take Measures to Ensure Continuation of Nuclear Program]

On June 24, Mohammad Eslami, head of the Atomic Energy Organization of Iran (AEOI), stated that Iran is assessing the damage caused by military strikes from Israel and the U.S. and has taken necessary steps to ensure the continuation of its nuclear program.

AEOI spokesman Behrouz Kamalvandi added that no force can halt or limit the progress of Iran's nuclear industry. On June 22, Iran's Fordow, Natanz, and Isfahan nuclear facilities were targeted by U.S. airstrikes. Former U.S. President Donald Trump claimed the facilities were "completely destroyed," but U.S. media cited a preliminary Defense Intelligence Agency report on June 24 stating that the strikes did not destroy key nuclear infrastructure and may only delay Iran's nuclear program by months. Trump and the White House denied these claims.

[Israeli PM Vows to 'Thwart' Iran's Nuclear Weapons Ambitions]

On June 24, Israeli Prime Minister Benjamin Netanyahu stated in a video address that if Iran attempts to restart its nuclear program, Israel will "thwart any such attempt," adding that "Iran will not possess nuclear weapons."

Netanyahu claimed that Israel's "Operation Rising Lion" since June 13 had "eliminated two existential threats: Iran's nuclear weapons and its arsenal of 20,000 ballistic missiles." He also asserted that a single strike had "wiped out" Iran's military command, killing three top Iranian military commanders and several other senior officers, as well as multiple leading nuclear scientists.

 [Bank of Thailand Holds Benchmark Rate Steady]

The Bank of Thailand kept its benchmark interest rate unchanged at 1.75%, in line with market expectations.

Price Information: 

[USD/CNY Central Parity Rate]

USD/CNY central parity rate: 7.1668, down 12 pips.

Previous trading day's central parity rate: 7.1656.

Previous trading day's official closing rate: 7.1781.

Previous night session closing rate: 7.1712.

Offshore USD/CNY extended gains, approaching the 7.16 mark, hitting its highest level since November 2024.

[Raw Material USD Market Prices]

Ethylene Asia:

CFR Northeast Asia: 845/ton,up5/ton.

CFR Southeast Asia: $860/ton.

Propylene Northeast Asia:

FOB Korea average: $750/ton.

CFR China average: $800/ton.

North Asia Frozen Cargo Arrival Price:

Propane: $558–560/ton.

Butane: $528–530/ton.

South China Frozen Cargo Late-July Arrival Price:

Propane: $601–611/ton.

Butane: $543–553/ton.

Taiwan Frozen Cargo Arrival Price:

Propane: $558–560/ton.

Butane: $528–530/ton.

[LLDPE USD Market Prices]

Film: $920/ton (CFR Huangpu).

Injection: $950/ton (CFR Dongguan).

[HDPE USD Market Prices]

Film: $910–920/ton (CFR Huangpu).

Blow Molding: $860–870/ton (CFR Huangpu).

[LDPE USD Market Prices]

Film: $1105–1130/ton (CFR Yantian).

Coating: $1330/ton (CFR Huangpu).

[PP USD Market Prices]

Homopolymer: $890–975/ton (CFR Huangpu).

Copolymer: $965–995/ton (CFR Huangpu).

Transparent: 1085/ton(CFRHuangpu),down35/ton.

Pipe: $1160/ton (CFR Shanghai).