【International News】World-class PE Film Recycling Plant Launched! Hyundai May Raise Prices in the U.S.! DCH Holdings Initiates Acquisition

International News Digest:

Raw Material News -Nova officially opens Syndigo 1 PE film recycling facility in Indiana

Auto News - Hyundai is considering raising car prices in the US market after June 2nd

Packaging News - Philippines: Approves the Use of PET Plastic Bottles as Additives in National Highway Construction

Electronic and Electrical News-NVIDIA's chips for China will see a significant price cut

Macro News - Federal Reserve's Kashkari: Long-term high tariffs will increase the risk of stagflation

Price Information - Propylene Northeast Asia: FOB Korea average price 760 USD/ton; CFR China average price 795 USD/ton

Here are the details of international news:

1.The deadline for tariff negotiations between the EU and the US has been extended to July 9

On May 25 local time, U.S. President Trump revealed on social media that the EU requested to extend the deadline for tariff negotiations to July 9, and he agreed. Subsequently, European Commission President Ursula von der Leyen posted that the EU and the U.S. have the world's most important and close trade relationship. Europe is ready to swiftly and decisively advance the negotiations. In order to reach a good agreement, the EU needs to extend the deadline to July 9.

2. Nova officially opens Syndigo 1 PE film recycling facility in Indiana

Calgary-based polyethylene (PE) maker Nova Chemicals Corp. has officially commissioned its first PE film recycling plant, in Connersville, Ind.

The facility, called Syndigo 1, is described by Nova officials as “one of the largest and most sophisticated plastic film mechanical recycling facilities in the world.”

3、The EU has launched an investigation into PET imports from Vietnam

The European Commission has launched an investigation to assess whether it is justified to impose anti-dumping measures on imports of PET from Vietnam. This investigation was initiated based on a complaint from EU PET producers, who allege that dumped imports of PET from Vietnam are harming the EU's domestic PET manufacturing industry. The EU's PET production directly employs 1,600 workers. In 2024, the total value of the EU's PET plastics market exceeded 4 billion euros. If the investigation confirms that the EU's PET industry has been harmed or is under threat of harm due to PET imports from Vietnam, the European Commission may impose anti-dumping duties. The investigation must be completed within a maximum of 14 months. If dumping and corresponding injury are provisionally confirmed, temporary anti-dumping measures must be imposed within 8 months.

4、DKSH acquires specialty polymer distributor APN Plastics

DKSH announced the signing of an agreement to acquire APN Plastics, a distributor of specialty polymers operating in Australia and Malaysia. This acquisition will enable DKSH Performance Materials to further expand its presence in these two markets based on a diversified customer base. APN Plastics is renowned for its extensive technical expertise in biomedicine and engineering plastics. The annual net sales of APN Plastics exceed 25 million Swiss francs.

5. Walmart, Nestlé, and Mars collectively exit the Plastic Pact

Recently, many well-known brands and retail giants have withdrawn from the U.S. Plastics Pact (USPP), drawing significant industry attention. The pact aims to bring together along the plastic value chain to collectively achieve sustainable packaging goals by 2025. As the largest retailer in the U.S., Walmart has explicitly stated that it will no longer participate in this pact. According to archived information on the USPP website, companies such as Mondelēz International, Mars, Nestlé, and L'Oréal USA, which were former members of the pact, seem to have quietly withdrawn recently.

6.Hyundai  is reportedly considering raising car prices in the U.S. market after June 2

Hyundai  is reportedly considering raising car prices in the U.S. market after June 2. In 2024, South Korea's auto exports to the U.S. reached $34.7 billion, accounting for 49% of its total auto exports. This figure has maintained rapid growth over the years. As Hyundai's largest single market globally, the U.S. contributes significantly to the group's revenue.

7. Philippines: Approves the use of PET plastic bottles as additives in the construction of national highways

In response to Philippine President Ferdinand Romualdez Marcos Jr.'s commitment to sustainable and resilient infrastructure, the Department of Public Works and Highways (DPWH) has officially approved the use of PET plastic bottle waste as an additive in national road construction projects. This innovative initiative is inspired by the successful trial in 2024 of using low-density polyethylene (LDPE) plastic bags as paving material. Building on this, the DPWH is further exploring the clever incorporation of PET bottle waste into asphalt mixtures. This new type of mixture not only significantly enhances the durability of roads but also effectively extends the lifespan of asphalt concrete surface layers, providing a practical and productive solution to the problem of plastic pollution.

8、NVIDIA to significantly reduce chip prices for China

U.S. chip giant Nvidia is reportedly set to launch an artificial intelligence (AI) chip based on the Blackwell architecture for the Chinese market, with a significantly lower price than its previous H20 chip. Mass production is expected to begin as early as June. Reports indicate that this AI processor, built on the latest Blackwell architecture, is expected to be priced between $6,500 and $8,000, significantly lower than the H20. A lower price typically implies relatively weaker chip specifications and a more simplified manufacturing process.

The following is overseas macro market information:

【General Administration of Customs: Allows the import of fresh Dutch apples that meet relevant requirements】

The General Administration of Customs announced that in accordance with the relevant laws and regulations of China and the "Protocol on Plant Quarantine Requirements for the Export of Fresh Apples from the Netherlands to China between the General Administration of Customs of the People's Republic of China and the Ministry of Agriculture, Fisheries, Food Security and Nature of the Kingdom of the Netherlands", fresh apples from the Netherlands that meet the relevant requirements are allowed to be imported with immediate effect.

【 Japan announces new plan for government rice reserves, to stop bidding and lower prices】

Japan's Ministry of Agriculture, Forestry and Fisheries announced a new plan for the release of government stockpiled rice on the 26th. In the future, the rice will no longer be sold through bidding but will be directly contracted to large retailers. The pre-tax price for every 60 kilograms of brown rice will be 10,700 yen, which is 47% cheaper than the price at the most recent bidding. Previously, Japan's newly appointed Minister of Agriculture, Forestry and Fisheries, Shinjiro Koizumi, said on the 24th that the government plans to sell stockpiled rice directly to retailers instead of auctioning it to intermediaries as before, hoping to stabilize rice prices in this way.

【The congestion at major European ports is intensifying.】

The report shows that congestion at major ports in the Nordic region and other hub areas is worsening, suggesting that the trade war could spread maritime transport disruptions to Asia and the United States, driving up freight rates. According to a report released by London-based maritime consultancy Drewry on Friday, waiting times for berths at the Port of Bremen, Germany, increased by 77% from late March to mid-May. During the same period, delays at the Port of Antwerp increased by 37%, while those at the Port of Hamburg rose by 49%. Waiting times at the Port of Rotterdam and the Port of Felixstowe in the UK also lengthened.

【Fed's Kashkari: Long-term high tariffs will increase the risk of stagflation】

Minneapolis Fed President Kashkari (2026 FOMC voter): Uncertainty is the biggest issue on the minds of the Federal Reserve and American businesses. The Fed is indeed in a wait-and-see mode. The impact of tariffs creates stagflation effects, and long-term high tariffs will increase the risk of stagflation; the question now is the extent of stagflation. Investors are reassessing the direction of global investment.

【 India's 10-year government bond yield rises】

The yield on India's 10-year government bonds rose 3 basis points to 6.28%. Previously, the Reserve Bank of India said it would pay a dividend of 2.69 trillion rupees to the government, which was below market expectations.

【Analysis: The USD/JPY may still fall towards the 140 level.】

For macro traders prepared for US policy to inflict "self-harm" on the dollar, the decline in USD/JPY is emblematic of waning confidence in the currency. Amid conflicting signals on how trade tariffs will play out, the exchange rate has seen reflexive swings, with USD/JPY just touching its lowest level this month. The yen is also being bolstered by the narrowing US-Japan interest rate differential, moving towards 140 or higher. Japanese Prime Minister Shigeru Ishiguro and US President Donald Trump are expected to meet on the sidelines of the G-7 summit in June, with forex traders anticipating upward pressure on the yen during the meeting. While yen leveraged long positions are high, this does not prevent USD/JPY from accelerating momentum sell-offs after breaking below the April 29 low of 141.97.

【"U.S. oil production may have peaked"】

The Financial Times reported on the 25th local time that U.S. oil companies are cutting expenditures and reducing the number of working drilling platforms, as President Trump's tariffs have driven up the costs of steel and aluminum, two key materials for the oil industry. The fall in crude oil prices has also squeezed profits. This has prompted industry executives to warn that the decade-long "shale boom" in the United States is coming to an end.

The following are price information:

【Central parity rate of RMB vs USD】

The central parity rate of the RMB against the US dollar was reported at 7.1833, up by 86 points. The central parity rate of the previous trading day was 7.1919, the official closing price of the previous trading day was 7.1895, and the night session of the previous trading day closed at 7.1798.

【 Upstream raw material US dollar market prices】

Ethylene Asia: CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton, down $20/ton.

Propylene Northeast Asia: FOB Korea average price 760 USD/ton; CFR China average price 795 USD/ton.

North Asia CIF prices for frozen cargo: Propane at 538.5-540.5 USD/ton; Butane at 512.5-514.5 USD/ton.

The CIF price for South China frozen goods in June is propane at $616-626/ton; butane at $566-576/ton.

Taiwan region frozen cargo CIF price, propane $538.5-$540.5 per ton; butane $512.5-$514.5 per ton.

【LLDPE US dollar market price】

Film: 900 USD/ton (CFR Huangpu);

Injection molding: $990/ton (Dongguan Free Trade Zone spot).

【HDPE USD market price】

910-930 USD/ton (CFR Huangpu);

Hollow: 865-870 USD/ton (CFR Huangpu), down 10 USD/ton;

【LDPE USD market price】

Film: 1035-1040 USD/ton (CFR Huangpu), down 15 USD/ton;

【 PP USD market price】

Average concentration: $950-985 per ton (spot)

Copolymer: 980-1060 USD/ton (CFR Huangpu);

Film material: 1025-1090 USD/ton (CFR Huangpu);

Transparent: $1095/ton (CFR Huangpu), down $5/ton.

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