【Global News】BYD Suspends Mexico Factory Construction Plan; Tosaf Launches Anti-Fog Solutions; Amcor Increases Production Capacity

International News Digest:

• Raw Material News: Grannex: Expansion of Mechanical Recycling Capacity in Germany​

• Recycling News: PET/PEF Multi-Layer Bottle Awarded RecyClass Certification​

• Automotive News: South Korea's Electric Vehicle Market Turning to Growth​

• Macro News: U.S. Government Re-Allows Supply of Jet Engines to China​

• Price Information: The Central Parity Rate of RMB Against USD Is 7.1535, Down 12 Points

Details of Global News:

1.Amcor Increases PCR Production to Meet Rising Demand

Brands want more recycled plastic content in their packaging, and Amcor's latest investment can help them meet their sustainability and regulatory targets. The company announced an investment in its Nicholasville, KY, facility to increase post-consumer recycled (PCR) packaging production capabilities at precise levels of up to 100% recycled content.

2. GRANNEX：Expansion of Mechanical Recycling Capacity in Germany

Mechanical recycler Grannex has invested around EUR 20 mn in expanding its recycling capacity at its Osnabrück site. After testing its proprietary recycling process at a pilot plant, Grannex has now scaled up the technology, the company said. At the beginning of 2025, the first full-scale facility based on this process was completed and has recently entered regular operation with a capacity of 16,000 t/y.

Tosaf Launches Antifog Solution for High-Performance Packaging Applications

Tosaf launches FogFree™ portfolio, delivering integrated antifog masterbatch solutions for extremely challenging polymers. These antifog compounds prevent droplet formation by modifying surface tension and encouraging a uniform water layer.

4. South Korea's Electric Vehicle Market Turns to Growth, and more Than 10 Electric Vehicles to Be Launched in The Second Half of The Year

More than 10 electric vehicles will be launched by domestic and foreign automakers in South Korea in the second half of this year. In the past, the electric vehicle lineup was dominated by sport utility vehicles (SUVs), but in the second half of this year, new models will include electric sedans, hydrogen energy electric vehicles, high-performance vehicles, and personalized custom models (PBV), which is expected to expand the demand group.

5. Solvay Joint Venture Invests in Production Facilities in Chile

Peróxidos do Brasil, a joint venture between Solvay and Produtos Químicos Makay (PQM), announced a new strategic investment in its Chilean production unit, reaffirming its commitment to providing excellent supply to customers in various South American markets. The $12 million (10.2 million euros) investment will be used to install a new production unit, enabling the division to expand its product portfolio and better serve all segments of the Andean market. This strategic move strengthens Peróxidos' commitment to sustainability by supporting the gradual reduction of carbon dioxide emissions in its manufacturing processes. Construction will start in the second half of this year after obtaining all permits, with completion planned for 2026.

6. Italian packaging machinery: 2024 turnover exceeds 10 billion euros for the first time

Italy's automatic packaging and cartoning machinery industry hit a record high in 2024, with turnover exceeding 10 billion euros for the first time, reaching 10.06 billion euros, a 9% increase from the previous year. These figures were released at the annual general meeting of the Italian Packaging Machinery Manufacturers Association (Ucima), based on the 13th national statistical survey conducted by the Mecs Research Center. The study covers 619 companies in the industry, which employed 40,503 people in 2024 (a 6% increase from 2023) and added 2,284 new jobs.

7. Japan Enforces New Rules for Food-Contact Plastics

New rules for plastic foodcontact materials have applied in Japan since June 1, 2025.Japan introduced a Positive List system regulating synthetic resins used in food-contact utensils, containers, and packaging in June 2020 under its Food Sanitation Act. The legislation allowed for a 5-year transition period which has now expired.

8. PET/PEF Multi-Layer Bottle Awarded RecyClass Certification

Avantium N.V., a leading company in the field of renewable polymer materials, announced that its PET/PEF multi-layer bottle is fully compatible with the PET recycling system. The European plastic circular economy organization RecyClass evaluated the bottle and officially awarded this certification. Avantium's PEF material (branded as releaf®) can be used in plant-based single-layer bottles and also has significant advantages when compounded with PET to make multi-layer bottles — as a barrier material, PEF can extend product shelf life more effectively than single-layer PET.

9. BYD Suspends Construction Plan of Mexican Automobile Plant

Due to geopolitical tensions and uncertainties brought about by U.S. President Donald Trump's trade policies, BYD Co., Ltd., China's largest electric vehicle manufacturer, has shelved its plan to build a large-scale factory in Mexico.​

In an interview in Bahia, Brazil, Li Ke, executive vice president of BYD, stated that the company still has interest in expanding in the Americas but has no timetable for new investments. It is reported that BYD is opening its first factory outside Asia in Bahia, Brazil.​

"Geopolitical issues have a significant impact on the automotive industry," said Li Ke. "Now everyone is re-evaluating their strategies in other countries. We hope to make a decision after the situation becomes clearer."​

Overseas macro market information:

Japanese Prime Minister Shigeru Ishiba Says Japan-U.S. Trade Negotiations Are Progressing Steadily

Japanese Prime Minister Shigeru Ishiba refuted claims that Japan-U.S. trade negotiations have made little progress. In a televised interview on Thursday, he said: "Negotiations are progressing steadily, there is no doubt about it. The negotiations cover a wide range of areas such as non-tariff barriers, but progress is being made step by step on each issue." However, he did not suggest that an agreement would be reached soon before the July 9 deadline.

 U.S. Government Re-Allows Supply of Jet Engines to China

On July 3rd local time, Reuters quoted informed sources as saying that the U.S. government has notified General Electric Aerospace that it can resume supplying jet engines to Commercial Aircraft Corporation of China, Ltd. This further indicates that Sino-U.S. trade tensions are easing. Another source quoted by the report said that at least one other aerospace company's export license restrictions to China were also lifted on the same day, but the source declined to name the company. Just the day before, the U.S. government lifted export restrictions on Chinese chip design software and also revoked a restrictive licensing requirement implemented a few weeks ago, paving the way for the resumption of ethane exports to China.

Cadence: Resuming EDA Software and Technology for Chinese Customers

Cadence's latest announcement shows that on July 2, 2025, the U.S. Department of Commerce's Bureau of Industry and Security (BIS) notified the company that the license requirement for exports to China under the BIS regulations of May 23 was immediately revoked. Cadence is restoring access to EDA software and technology for affected customers in accordance with these updated U.S. export regulations. No further information will be provided at this time.

Hong Kong Dollar Hibor Rises Across the Board; Hong Kong Monetary Authority Stepped Up Intervention Earlier

Hong Kong dollar interbank offered rates (Hibor) rose across the board as the Hong Kong Monetary Authority bought Hong Kong dollars overnight to defend the linked exchange rate system. The 1-month Hibor rose 15 basis points to 0.86%; the overnight Hibor rose 1 basis point to 0.03%. Both hit a nearly one-week high. The 3-month Hibor rose 8 basis points to 1.78%, the highest level since May 21.

Goldman Sachs Lowers U.S. Treasury Yield Forecast, Expects 10-Year Yield to Be 4.20% by the End of the Year

Goldman Sachs Group lowered its forecast for U.S. Treasury yields, citing an increased possibility that the Federal Reserve will cut interest rates earlier than expected. They expect the 2-year and 10-year U.S. Treasury yields to be 3.45% and 4.20% respectively by the end of the year, compared with previous forecasts of 3.85% and 4.50%.

Price Information:

【RMB against US Dollar Central Parity Rate】

The central parity rate of RMB against the US dollar is reported at 7.1535, down by 12 points; the central parity rate of the previous trading day was 7.1523, the official closing price of the previous trading day was 7.1611, and the night session closing price of the previous night was 7.1717.

【US Dollar Market Prices of Raw Materials】

Ethylene Asia: CFR Northeast Asia 850 USD/ton; CFR Southeast Asia 860 USD/ton. Propylene Northeast Asia: FOB South Korea average price 745 USD/ton; CFR China average price 795 USD/ton. North Asia frozen cargo CIF price, propane 522-524 USD/ton; butane 495-497 USD/ton. South China frozen cargo CIF price for early August, propane 556-566 USD/ton; butane 521-531 USD/ton. Taiwan region frozen cargo CIF price, propane 522-524 USD/ton; butane 495-497 USD/ton.

【LLDPE US Dollar Market Prices】

Film: 875-930 USD/ton (CFR Huangpu);

Injection molding: 940 USD/ton (CFR Dongguan);

【HDPE US Dollar Market Prices】

Film: 910-930 USD/ton (CFR Huangpu);

Blow molding: 860-870 USD/ton (CFR Huangpu);

【LDPE US Dollar Market Prices】

Film: 1080-1090 USD/ton (CFR Huangpu);

Coating: 1350 USD/ton (CFR Huangpu)

【PP US Dollar Market Prices】

Homopolymer: 935-980 USD/ton (CFR Huangpu);

Copolymer: 965-995 USD/ton (CFR Huangpu);

Film material: 1000 USD/ton (CFR Huangpu);

Transparent: 1085 USD/ton (CFR Huangpu);

Pipe material: 1160 USD/ton (CFR Shanghai).