Singapore Develops World's First Digital "Passport" for Plastics; Tesla's India Debut Stalls

International News Guide:

Raw Materials News - Singaporepore Makes Digital “Passport” to Track Plastic Items to Boost Recycling, Extend Semakau’S Lifespan

Automotive News - Tesla’s Debut in India Stalls

Exhibition News - Tomra Aims to Increase Plastic Circularity

Major Enterprise News - Vanden to close Whittlesey plastics recycling plant Packaging News - Plastic Energy-

Plastic Energy and SABIC JV plant produces its first batch of oil from hard-to-recycled plastics

Macro News - Hong Kong Overnight Hibor Posts Biggest Drop Since May

Price Information - USD/CNY Central Parity Rate at 7.1089, Down 17 Pips

International News Details:

1.Singaporepore Makes Digital ‘Passport’ to Track Plastic Items to Boost Recycling, Extend Semakau’S Lifespan

Singapore is creating what is said to be a world-first digital “passport” for plastics to boost recycling as its sole landfill in Semakau is running out of space in 10 years. The digital passport system tags plastic at a molecular level to track its provenance and recycling. The records are written on a blockchain, allowing the irrefutable passport data about the plastic’s origin, composition, reuse cycles and disposal to be exchanged among plastic manufacturers, recycling firms and the authorities for auditing purposes.

2. Tesla’s Debut in India Stalls

Bloomberg reported on September 2 that Tesla’s first foray into the Indian market has stalled, with the company securing just over 600 orders since sales launched in mid-July, falling short of internal expectations.

Tesla plans to ship 350 to 500 vehicles to India this year, with the first batch set to depart Shanghai in early September. Initial deliveries will be limited to four cities with physical showrooms: Mumbai, Delhi, Pune, and Gurugram.

Data from automotive intelligence firm JATO Dynamics shows that due to high import tariffs, Tesla’s entry-level model in India is priced above 6 million rupees (approximately RMB 486,000 at current exchange rates), far higher than the 2.2 million rupees (approximately RMB 178,000) price point for most electric vehicles sold locally. Despite Tesla’s long-standing lobbying for lower tariffs from the Indian government, it still faces comprehensive cost pressures including taxes.

3. Tomra Aims to Increase Plastic Circularity

At K 2025, Tomra will present a broad spectrum of solutions for increased plastics circularity. Tomra Recycling, Tomra Feedstock and Tomra Collection will offer insights into available and coming technology for collection, sorting and fine-sorting of plastics, and Tomra Reuse will present their systems for reusable takeaway packaging for cities and events.

4. Vanden to close Whittlesey plastics recycling plant

Vanden Recycling has confirmed it will close its plastics processing site in Whittlesey, Peterborough, later this year. The facility, which processes post-industrial plastics including PET, PP and HDPE, is expected to cease operations by late October.

5. CAMM warns of ‘long-term harm’ from tariffs

The Canadian Association of Moldmakers (CAMM) has expressed “urgent concern” over the U.S. decision to extend steel and aluminum tariffs to now include molds.

“This move strikes at the very heart of Canada’s manufacturing supply chain and threatens the livelihoods of thousands of workers,” CAMM officials said in an Aug. 23 statement. “These tariffs are not just numbers on paper – they are barriers that weaken Canadian mold makers and the steel producers who supply us.”

Advanced Recycling Transforms Automotive Plastic Waste Into a Valuable Resource

Modern vehicles contain more than 400 pounds of plastic on average, and that number continues to rise. Managing end-of-life automotive plastics presents a complex challenge for recycling infrastructures.

7. Plastic Energy and SABIC JV plant produces its first batch of oil from hard-to-recycled plastics

Plastic Energy has announced the production of its first batch of TACOIL™ at its joint venture plant with SABIC in Geleen, the Netherlands. This marks a key milestone on the road to full commercial operations.

8. Innovative Ultra Thin Frame Material “TROGAMID^®” Adopted in Seiko Optical Products’ New Eyewear Series

Polyplastics-Evonik Corporation (Head Office: Shinjuku-ku, Tokyo; President: Vitor Lavini) is pleased to announce that its high-performance transparent polyamide “TROGAMID^®” has been adopted in the new “Seiko Light and Fitting – Black Leaf” eyewear series by Seiko Optical Products Co., Ltd. (Head Office: Chuo-ku, Tokyo; President: Atsushi Iwasaki).

This innovative eyewear frame was developed to meet the seemingly contradictory demands of a luxurious yet comfortable design. Seiko Optical Products sought new material possibilities from the early stages of development to achieve a “thin, lightweight, and luxurious design” that was difficult to realize with conventional acetate materials. Their attention turned to TROGAMID^®.

Overseas Macro Market:

【Hong Kong Overnight Hibor Posts Biggest Drop Since May】

Hong Kong’s overnight Interbank Offered Rate (Hibor) declined after rising to this year’s high on Monday due to thin liquidity during the U.S. public holiday and a stock market rally. The overnight Hibor fell 176 basis points on Tuesday to 2.89%, its biggest drop since May.

【Japan’s 10-Year Government Bonds Rise on Strong Demand at Auction】

Japan’s 10-year government bond auction attracted the strongest demand since October 2023, as higher yields increased attractiveness to investors and eased market sentiment. The benchmark 10-year JGB yield fell 2.5 basis points to 1.595% after the auction results, having hit 1.625% on Monday—near its highest level since 2008. JGB futures also rose accordingly. The bid-to-cover ratio for this bond issuance by Japan’s Ministry of Finance jumped to 3.92 from 3.06 last month, well above the 12-month average of 3.17.

【Tesla’s India Sales Underwhelm, Orders Fall Far Short of Targets】

Tesla’s push into India has so far yielded little, with lackluster vehicle orders sparking new questions about the company’s global growth prospects. The Elon Musk-led electric vehicle maker has received just over 600 car orders since launching sales in India in mid-July, below the company’s expectations.

People familiar with the matter, who spoke on condition of anonymity due to non-public information, said Tesla currently plans to export 350 to 500 vehicles to India this year, with the first batch expected to arrive from Shanghai in September.

Price Information:

【USD/CNY Central Parity Rate】

The central parity rate of USD/CNY was quoted at 7.1089, down 17 pips; the central parity rate of the previous trading day was 7.1072, the official closing price of the previous trading day was 7.1332, and the overnight closing price was 7.1375.

【Upstream Raw Materials USD Market Prices】

Ethylene Asia: CFR Northeast Asia $840/ton; CFR Southeast Asia $835/ton, up $5/ton.

Propylene Northeast Asia: FOB Korea average price $760/ton; CFR China average price $790/ton.

North Asia frozen cargo CIF price: propane $535-536/ton; butane $545-546/ton.

South China frozen cargo CIF price for early October: propane $571-581/ton; butane $551-561/ton.

Taiwan region frozen cargo CIF price: propane $535-536/ton; butane $545-546/ton.

【LLDPE USD Market Prices】

Film: $860-910/ton (CFR Huangpu);

Injection molding: $950/ton (CFR Dongguan).

【HDPE USD Market Prices】

Film: $910-970/ton (CFR Huangpu);

Blow molding: $860/ton (CFR Huangpu);

Injection molding: $870/ton (CFR Huangpu);

Pipe: $1,025/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: $1,115/ton (CFR Huangpu);

Coating: $1,280/ton (CFR Huangpu).

【PP USD Market Prices】

Homopolymer: $915-965/ton (CFR Huangpu);

Copolymer: $900/ton (CFR Nansha);

Film grade: $1,020/ton (CFR Nansha);

Transparent: $955-1,050/ton (CFR Huangpu);

Pipe: $1,130/ton (CFR Shanghai).