New Twist in US-South Korea Trade Agreement! Tesla's German Plant Plans Production Hike; NG Nordic Partners with ABB

International News Roundup:

Raw Material News: Dow Chemical Announces Possible 2-Year Delay for World’s First Net-Zero Emission Ethylene Cracking Project!

Automotive News: Tesla’s German Plant Plans to Boost Production

Electrical & Electronics News: NG Nordic and ABB Collaborate to Launch World’s First CO₂-Based Plastic Electrical Fittings

Packaging News: Nova supplying Packager Charter Next Generation With Recycled PE

Additives News: Arkema to Showcase Cutting-Edge Polymer Solutions and Technologies at K 2025

Macroeconomic News: New Twist in US-South Korea Trade Agreement! South Korea Proposes "Unlimited Currency Swap"

Price News: RMB/USD Central Parity Rate Reported at 7.1056, Down 37 Pips

Details of International News:

Dow Chemical Announces Possible 2-Year Delay for World’s First Net-Zero Emission Ethylene Cracking Project!

In a speech at Morgan Stanley’s 13th Laguna Conference held recently, Dow Chemical CEO Jim Fitterling stated that due to market adjustments, the company’s Path2Zero integrated polyethylene (PE) project in Alberta may face a further delay.

Affected by economic uncertainty, Dow Chemical recently suspended construction of its $11.6 billion net-zero emission petrochemical project located northeast of Edmonton. Fitterling said this week that construction of the project will be delayed until market conditions improve, with an update expected to be announced by the end of the year. "We have announced a one-year delay. Currently, the delay period may be 1 to 2 years."

Tesla’s German Plant Plans to Boost Production

André Thierig, manager of U.S. electric vehicle manufacturer Tesla’s plant in Gruenheide near Berlin, Germany, told the German Press Agency (DPA) that driven by strong sales performance, Tesla plans to increase the plant’s production in the remaining months of this year.

NG Nordic and ABB Collaborate to Launch World’s First CO₂-Based Plastic Electrical Fittings

NG Nordic has partnered with ABB Oy, Wiring Accessories, Porvoo (a unit of the ABB Group) to launch the world’s first electrical fittings made from CO₂-based plastic to the market.

Nova supplying Packager Charter Next Generation With Recycled PE

Calgary-based Nova Chemicals Corp. is supplying packaging maker Charter Next Generation (CNG) with post-consumer polyethylene (PE) resin from Nova’s new plant in Connersville, Ind.

In a Sept. 10 news release, Nova officials said the long-term agreement with Chicago-based CNG will provide CNG with recycled PE (rPE) sold under Nova’s Syndigo trade name. The material is sourced from recycled film and plastic packaging and offers a lower-emission alternative to virgin PE, Nova said. Syndigo produced at Connersville is now being integrated into CNG’s operations.

Arkema to Showcase Cutting-Edge Polymer Solutions and Technologies at K 2025

Arkema will participate in K 2025, the world’s premier trade fair for plastics and rubber, held in Düsseldorf this October. Under the theme "Innovating for a Sustainable Future", Arkema will focus on showcasing its cutting-edge solutions and technologies to address key trends shaping the global industry.

At K 2025, Arkema will present innovations focused on five key strategic areas, demonstrating the Group’s commitment to advancing sustainability and meeting the evolving needs of global markets. It will also showcase its latest innovations in high-performance polymers, marking important milestones this year—including expanding Kynar® PVDF capacity in the U.S., launching Zenimid™, a new brand for its ultra-high-performance polyimide range, and making a major investment in the Rilsan® Clear transparent polyamide facility in Singapore, which will triple its global capacity and is scheduled to start operations in the first quarter of 2026.

DeLorean Heads to K Show! HolyPoly Reconstructs Plastic Recyclate Supply Chain with "Future Perspective"

HolyPoly invites guests attending K 2025 to embark on a "time travel" journey aboard the iconic DeLorean DMC-12 from the movie Back to the Future. Through this creative initiative, the company aims to draw public attention to a pressing issue: the shortage of high-quality plastic recyclate supply.

During K 2025, visitors can go to the booth of HolyPoly GmbH to experience "time travel" in the DeLorean DMC-12—a model made famous by Back to the Future. The German startup, as if "returning" from the future, brings an achievement not yet realized today: stable supply of high-quality, cost-effective post-consumer recyclate. "We offer booth visitors a chance to ‘travel’ to 2035," said Matthias Röder, HolyPoly’s Marketing Director. "They will look back on the next decade through the ‘rearview mirror of history’—an experience that may change their perception of the present."

New Twist in US-South Korea Trade Agreement! South Korea Proposes "Unlimited Currency Swap"

The US-South Korea trade negotiations have hit a twist, with the U.S. demanding that South Korea significantly increase the proportion of direct cash investment in its $350 billion investment fund. The market is concerned that this move will lead to a sharp rise in the South Korean won, endangering foreign exchange market stability and affecting South Korea’s real economy. In response, South Korean officials revealed that they have proposed establishing an "unlimited bilateral currency swap mechanism" with the U.S. to protect the country’s currency.

SABIC's Ultra-Thin Dielectric Film For Demanding Electrical Applications at PCIM Asia

SABIC will showcase at PCIM Asia 2025, in Hall N5, Booth F03, ultra-thin ELCRES™ HTV150 dielectric film that is well suited for capacitors used in demanding electrical applications, including AC-DC inverters in electric vehicles (EVs). Advanced capacitors made with the SABIC film can operate at high temperatures up to 150°C with minimal derating of applied voltage (V). This capability will be discussed in two technical presentations during the event.

Overseas Macroeconomic Market Information:

Trump Reportedly to Extend TikTok’s "Sell or Ban" Deadline Again

Late on September 14 (local time), Reuters cited sources as saying that the Trump administration is expected to once again extend the deadline for ByteDance to divest TikTok’s U.S. business. Previously, the U.S. government required ByteDance to complete the divestment by September 17 this year, otherwise its business in the U.S. would be banned.

If the report is true, this will be the fourth time U.S. President Trump has granted a "grace period" to TikTok. Last month, Trump stated that he had identified a U.S. buyer for the app and might further extend the deadline.

Under the original provisions of the U.S. "sell-or-ban" law, ByteDance must sell TikTok’s U.S. business by January 19, 2025, but Trump has extended the deadline three times. The last extension was on June 19, when Trump signed an executive order for the third time, pushing the implementation deadline back by 90 days to September 17.

As of press time, the White House has not responded. Reuters pointed out that if TikTok gets another extension, it will undoubtedly indicate that the U.S. government is reluctant to shut down an app with 170 million users in the U.S.

Philippine Stock Market’s Discount to Regional Indices Hits 16-Year High

The Philippine stock market’s discount to major Asian regional stock indices has reached its highest level since 2009. Due to net selling by foreign investors, the Philippine Stock Exchange PSEi Index has fallen by about 7% since its May high, making it the worst-performing major Asian index in the same period. The index has a forward price-to-earnings ratio of approximately 9 times, compared with 16 times for the MSCI Asia Pacific Index.

Trump: U.S. Willing to Sanction Russia, But Europe Still Buys Russian Oil

U.S. President Trump told the media on the afternoon of September 14 (local time) that he is willing to impose sanctions on Russia, but Europe must take actions commensurate with those of the U.S.

Trump said, "Europe is still buying oil from Russia, while the U.S. is not. The sanctions currently imposed by Europe are not tough enough and must be intensified to match the U.S. level."

SEC Chair Plans to Scrap Biden-Era Aggressive Enforcement Program

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins stated that the commission will notify companies of technical violations before "showing up at their doorsteps". Atkins plans to scrap the aggressive enforcement program launched during former President Joe Biden’s tenure. He said he is trying to change the market’s perception of "lack of due process, lack of notice, and lack of rule of law".

Thai PM Anutin Says Government to "Urge ntly Address" Baht Appreciation

Thai Prime Minister Anutin stated that the Thai government will "urgently address" the appreciation of the Thai baht, which climbed to a four-year high last week. After meeting with the Federation of Thai Industries, Anutin told reporters that incoming Finance Minister Enkhiti will hold detailed discussions on the baht appreciation issue with an industry group on Monday afternoon. Enkhiti has also been assigned to investigate gold exports to Cambodia, and the government will take action if any violations are found. The Prime Minister said that the government’s policies have been drafted and submitted to coalition parties for revision; the cabinet list has been drawn up and is under qualification review.

Singapore Residential Sales Rise to 9-Month High

Data released by Singapore’s Urban Redevelopment Authority on Monday showed that developers sold approximately 2,142 private residential units last month. This is the highest sales volume since November last year (nearly 2,600 units sold that month). In August, local homebuyers and Singapore’s growing number of affluent foreign residents flocked to suburban projects, while also showing strong interest in high-end projects in RiverValley—a foreigner-friendly area near the city center. The sales growth builds on the strong performance in July and has also driven up the stock prices of local developers. Although the launch of new projects has slowed this month, more projects are expected to hit the market before the end of the year.

Thailand Considers Tax on Gold Trade to Slow Baht Appreciation

Thai authorities are considering imposing a tax on physical gold transactions to slow the appreciation of the country’s currency—a sustained rise that has endangered exports and tourism. According to sources, the tax may exempt U.S. dollar-denominated transactions, futures market transactions, and purchases from gold shops. Its goal is to reduce gold exports and increase the cost of holding precious metals for Thai people. A final decision will be made after the new cabinet takes office. The Ministry of Finance and the central bank plan to conduct further consultations, and the tax may be introduced in the form of a "specific business tax".

Price Information:

RMB/USD Central Parity Rate

The central parity rate of RMB against the U.S. dollar was reported at 7.1056, down 37 pips; the central parity rate of the previous trading day was 7.1019, the official closing price of the previous trading day was 7.1224, and the night session closing price was 7.1246.

Upstream Raw Material USD Market Prices

Ethylene Asia: CFR Northeast Asia 850 USD/ton, up 10 USD/ton; CFR Southeast Asia 840 USD/ton.

Propylene Northeast Asia: FOB South Korea average 770 USD/ton, up 5 USD/ton; CFR China average 805 USD/ton, up 5 USD/ton.

North Asia frozen cargo CIF: Propane 544-548 USD/ton, down 2 USD/ton; Butane 561-563 USD/ton, up 5 USD/ton.

South China frozen cargo CIF for early October: Propane 587-597 USD/ton; Butane 567-577 USD/ton, down 7 USD/ton.

Taiwan region frozen cargo CIF: Propane 544-548 USD/ton, down 2 USD/ton; Butane 561-563 USD/ton, up 5 USD/ton.

LLDPE USD Market Prices

Film: 860-915 USD/ton (CFR Huangpu);

Injection Molding: 1050 USD/ton (CFR Dongguan);

HDPE USD Market Prices

Film: 910-980 USD/ton (CFR Huangpu);

Blow Molding: 855 USD/ton (CFR Huangpu);

Injection Molding: 870 USD/ton (CFR Huangpu);

Pipes: 1025 USD/ton (CFR Huangpu);

LDPE USD Market Prices

Film: 1100-1115 USD/ton (CFR Huangpu);

Coating: 1280 USD/ton (CFR Huangpu).

PP USD Market Prices

Homopolymer: 855-965 USD/ton (CFR Huangpu), down 5 USD/ton;

Copolymer: 875-890 USD/ton (CFR Nansha);

Film Grade: 1030 USD/ton (CFR Huangpu);

Transparent Grade: 1000-1050 USD/ton (CFR Huangpu), up 45 USD/ton;

Pipe Grade: 1130 USD/ton (CFR Shanghai).