Trump to Impose Simple Tariffs! Kuraray Announces Price Hike! First Indonesia-Produced XPeng X9 Delivered

Raw Materials - Kuraray Announces Price Hike of 10%-30% for PVA Fiber Products From August 1

Automotive - Tesla Q2 Earnings: Revenue Reaches $22.5 Billion

Electronics - Australia Initiates Double Review Investigation Into Chinese PVC Flat Cables

Packaging -Sonoco invests USD 30 Mn to expand adhesives & sealants capacity

Macro - First Locally Produced XPeng X9 in Indonesia Delivered

Price - LLDPE Film: $860-$920/tonne (CFR Huangpu), Down $5/tonne

International News Details:

1. Trump: To Impose "Simple Tariffs" of 15%-50% on Most Countries

According to CCTV News, on July 23 local time, U.S. President Trump stated that he will impose simple tariffs of 15% to 50% on most other countries in the world. Trump also said that the U.S. is engaged in serious negotiations with the EU, and if they agree to open up to U.S. companies, the U.S. will allow them to pay lower tariffs.

2. Kuraray Announces Price Hike of 10%-30% for PVA Fiber Products From August 1

Recently, Japan's Kuraray Co., Ltd. announced that due to rising production costs, it will adjust the prices of its PVA fiber products by 10%-30% starting from August 1, 2025. Affected products include the entire range of PVA fiber products such as KURALON™, KURALON K-II™, and VINARL™.

3. Sonoco invests USD 30 Mn to expand adhesives & sealants capacity

4. Tesla Q2 Earnings: Revenue Reaches $22.5 Billion

Tesla released its Q2 2025 earnings report. The report shows that Tesla's Q2 revenue reached $22.5 billion (approximately RMB 160.9 billion), with total global deliveries exceeding 384,000 units. According to data from the China Passenger Car Association, Tesla Shanghai Gigafactory delivered 191,000 units in Q2, a 10.98% quarter-on-quarter increase from Q1.

5. Coca-Cola Discloses Q2 Earnings: Net Profit Up 58% YoY

Recently, Coca-Cola released its Q2 2025 earnings report. In Q2, Coca-Cola's revenue was $12.535 billion, up 1% YoY, and net profit was $3.803 billion, up 58% YoY. During the earnings call, management stated that strong performance in the Chinese market, flagship brand Coca-Cola, and the foodservice channel drove overall sales growth.

6. PSRA partners to expand EPS recycling across Colorado

7. Australia Initiates Double Review Investigation Into Chinese PVC Flat Cables

Recently, the Australian Anti-Dumping Commission issued Notice No. 2025/061, stating that in response to an application submitted by Chinese exporter Dongguan Minxing Cables Co., Ltd., it will initiate an anti-dumping and countervailing review investigation into PVC Flat Electrical Cables exported to Australia. The review will examine whether changes should be made to variable factors related to current anti-dumping and countervailing measures.

The investigation period for this case is from April 1, 2024, to March 31, 2025. The Australian customs code for the involved products is 8544.49.20.41. The Australian Anti-Dumping Commission is expected to complete the basic facts report for the investigation no later than October 26, 2025, and submit the final report to Australia's Minister for Industry and Science no later than December 10, 2025.

8. Scheme Tackles Farm Plastic Pollution in Wales

9. Closing the GRAS "Loophole": New Bill to Push FDA to Strengthen Food Chemical Regulation

Recently, new legislation aimed at reforming the U.S. Food and Drug Administration (FDA)'s "Generally Recognized As Safe" (GRAS) rules has been introduced in Congress. The "Ensuring Safe and Non-Toxic Food Act of 2025," proposed by Senators Ed Markey and Cory Booker, aims to address regulatory loopholes in food additives and food contact materials under GRAS rules through stricter safety reviews and transparency requirements.

10. Sun Chemical to Showcase Adhesives and Packaging Solutions at Labelexpo Europe 2025

Overseas Macro Updates:

Report: South Korea Considers U.S. Investment Commitment to Persuade Trump to Lower Auto Tariffs

According to Bloomberg, as part of a trade agreement, the U.S. and South Korea have discussed creating a fund to invest in U.S. projects, similar to the agreement between Japan and the U.S. The scope of the discussions is currently unclear, but the U.S. has been seeking commitments totaling hundreds of billions of dollars. Negotiations with South Korea also aim to reach a 15% tariff rate, including auto tariffs. The agreement may also include South Korea's commitment to purchase more goods in key industries. Yonhap News Agency reported that South Korea will propose investing at least $100 billion in the U.S.

U.S. Port Inbound Container Volume Drops for Second Consecutive Month

According to Spain's El Economista website, the impact of tariff policies has already appeared in U.S. ports. Bloomberg data shows that the number of imported product containers received by U.S. ports in June fell for the second consecutive month, marking the first negative growth in the second quarter since 2020, indicating a contraction in U.S. merchandise imports.

Scheduled U.S.-South Korea "2+2" Tariff Consultations Postponed Due to U.S. Treasury Secretary's Emergency Schedule

The "2+2" tariff consultations between South Korean and U.S. finance ministers and trade negotiators, originally scheduled for the 25th local time, have been postponed due to U.S. Treasury Secretary Bessent's emergency schedule.

Clashes Erupt Between Thailand and Cambodia in Border Area

On the morning of July 24 local time, clashes broke out between Thailand and Cambodia in their border area. Previously, in response to Thailand's recall of its ambassador to Cambodia, expulsion of Cambodia's ambassador to Thailand, and downgrading of diplomatic relations with Cambodia, the Cambodian government announced reciprocal measures.

First Locally Produced XPeng X9 in Indonesia Delivered

Recently, XPeng Motors made its debut at the 2025 Indonesia International Motor Show, the largest automotive event in Southeast Asia. At the exhibition, XPeng officially announced that Indonesia has become the first country in the world to host XPeng's local production, with the first locally produced XPeng X9 delivered to an Indonesian owner. This marks the official launch of XPeng's global local production strategy, starting with Indonesia.

Tesla's New Car Registrations in Europe Drop 22.9% YoY in June, Sixth Consecutive Monthly Decline

Data released by the European Automobile Manufacturers' Association on July 24 shows that Tesla's new car registrations in Europe in June were 34,781 units, compared with 45,087 units in the same period last year, a YoY decline of 22.9%. This is the sixth consecutive monthly decline in Tesla's European sales.

Price Information:

USD/CNY Central Parity

7.1385, up 29 pips; previous trading day’s central parity 7.1414, previous trading day’s official closing price 7.1610, overnight closing price 7.1547.

Upstream Raw Materials USD Market Prices

Ethylene Asia: CFR Northeast Asia $820/tonne; CFR Southeast Asia $830/tonne.

Propylene Northeast Asia: FOB Korea average price $740/tonne; CFR China average price $770/tonne.

North Asia frozen cargo CIF price: propane $496-498/tonne; butane $476-478/tonne.

South China frozen cargo for second half of August CIF price: propane $543-553/tonne; butane $529-537/tonne.

Taiwan region frozen cargo CIF price: propane $496-498/tonne; butane $476-478/tonne.

LLDPE USD Market Prices

Film: $860-920/tonne (CFR Huangpu), down $5/tonne;

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

HDPE USD Market Prices

Film: $920/tonne (CFR Huangpu);

Hollow: $855-865/tonne (CFR Huangpu);

Pipe: $1,035/tonne (CFR Huangpu).

LDPE USD Market Prices

Film: $1,075-1090/tonne (CFR Huangpu);

Coating: $1,350/tonne (CFR Huangpu).

PP USD Market Prices

Homopolymer: $965/tonne (CFR Huangpu);

Copolymer: $940-950/tonne (CFR Nansha);

Film material: $1,030/tonne (CFR Nansha);

Transparent: $1,000-1,065/tonne (CFR Huangpu);

Pipe material: $1,160/tonne (CFR Shanghai).