[Overseas Headlines] China National Chemical Engineering Signs Indonesia 300,000-Ton PP Project! Japan's Zeon Develops New Technology! LYB Shuts Down

International News Highlights:

Raw Material News - LyondellBasell Announces Shutdown of PP Unit by Year-End

Auto News - China Chemical: 300,000-ton polypropylene project in Indonesia successfully signed.

Packaging Highlights: Living-Hinge Bottle Caps Made from 100% rPP! PureCycle and StackTeck Successfully Complete Trials

Electronics Headlines — Japan Zeon Develops New Technology for Synthesizing Dicyclopentadiene

Equipment Highlights - Chen Hsong Showcases at KUTENO 2026 in Germany: All-Electric Precision Injection Molding, Precision-Driven, Leading in Efficiency, Deepening Its Presence in Europe

Macro News - Iranian Foreign Minister Says Israel’s Aggression Against Lebanon “Must Be Completely Stopped”

Here are the details of international news:

1. Japan’s Zeon Develops New Technology for Synthesizing Dicyclopentadiene

Zeon Corporation has approved a major new investment in its GPI facility at the Mizushima Plant in Kurashiki, Japan, aimed at strengthening its competitiveness in the rapidly growing C5 chemicals business. The project will expand production capacity for dicyclopentadiene (DCPD) by approximately 20%. DCPD is a key raw material for the production of cyclo olefin polymer (COP) and COP optical films, which are core growth drivers in Zeon’s product portfolio. In addition, DCPD is essential for other high-value-added applications, including reaction injection molding (RIM) composites, and is a strategic focus for Zeon under its “STAGE30” medium-term management plan.

2. Living-hinge bottle caps made from 100% rPP! PureCycle and StackTeck have achieved successful trial results.

According to test results announced by PureCycle Technologies and StackTeck Systems, living-hinge caps—one of the application categories with the highest mechanical performance requirements in injection molding—can now be produced using 100% post-consumer recycled polypropylene (rPP). This collaboration has solved a long-standing bottleneck in the development of sustainable packaging: living hinges require polymer materials to withstand hundreds of flexing cycles without cracking or failure, a performance threshold that had previously excluded recycled resins and limited such applications to virgin polypropylene. Caps produced with PureFive Ultra™ and PureFive Choice™ resins passed customer-side flex-cycle testing, with dimensional tolerances fully consistent with caps of the same specification made from virgin resin. This opens up an entirely new sustainable packaging application pathway for brands seeking to incorporate recycled content without sacrificing product performance.

3. Zhenxiong debuts at KUTENO 2026 in Germany: All-electric precision injection molding, precise drive, leading efficiency, deepening presence in Europe.

KUTENO 2026 was held at the Exhibition Centre Bad Salzuflen in Germany. Chen Hsong showcased its SPARK AE all-electric injection molding machine, once again demonstrating the strength of its injection molding technology to the European market with a focus on high precision and high efficiency. The Chen Hsong SPARK AE series adopts an all-electric drive system. With its outstanding performance in high precision and high efficiency, it precisely meets the European market’s production requirements for high-end manufacturing and Industry 4.0, and is widely used in medical, automotive parts, electronics, packaging, and other fields.

4. China National Chemical Engineering: Indonesia 300,000-ton polypropylene project successfully signed

Recently, Wuhuan Engineering Co., Ltd., a subsidiary of China National Chemical Engineering Group Corporation, signed an EPC general contracting agreement with PT Polytama Propindo, a subsidiary of Indonesia’s state-owned oil company, for a 300,000-ton-per-year polypropylene project. Located in the Balongan area of Indramayu Province, Indonesia, the project, upon completion, will significantly increase local high-end polypropylene production capacity, address gaps in the regional petrochemical industry chain, optimize the overall structure of Indonesia’s chemical industry, and provide strong momentum for the upgrading and scaled development of the local petrochemical sector.

5. LyondellBasell Announces Shutdown of PP Unit by Year-End

LyondellBasell has announced plans to shut down the remaining polypropylene (PP) unit at its Brindisi site in Italy by the end of this year. However, labor unions said the shutdown plan could still change if the company is able to find a viable solution for the asset. LyondellBasell told the media that weak macroeconomic conditions, continued instability in feedstock supply, and persistently high operating and logistics costs have significantly eroded the site’s competitiveness, making it difficult to sustain stable long-term operations. The Brindisi PP unit has a nameplate capacity of 260,000 tonnes per year. It was the world’s first Spheripol polypropylene plant, commissioned in 1982, and mainly produces general-purpose PP homopolymer grades for packaging applications. Another PP unit at the site was shut down in 2024.

Overseas Macroeconomic Market Highlights:

The Iranian Foreign Minister said that "Israel's aggression against Lebanon must be completely stopped."

According to a report by the Islamic Republic News Agency on the 15th, Iranian Foreign Minister Araghchi held separate phone calls that day with the foreign ministers of Turkey, Iraq, and Egypt, stressing that the United States is responsible for implementing the U.S.-Iran agreement and stating that Israel’s aggression against Lebanon “must be completely stopped.” During the calls, Araghchi discussed with his three counterparts the progress and contents of the U.S.-Iran memorandum of understanding, and praised the diplomatic efforts made by the three countries in supporting a ceasefire, easing tensions, and promoting regional stability and security. The foreign ministers of the four countries emphasized that they would continue to maintain close consultations and cooperation on the regional situation, and that diplomatic efforts must be strengthened to safeguard regional peace and stability.

Israeli forces launch attacks on multiple locations in southern Lebanon.

According to Lebanese sources on the 15th, Israel launched attacks on multiple areas in southern Lebanon on the morning of the same day, causing injuries. The sources said an Israeli drone carried out an airstrike on a car in the Nabatieh area of southern Lebanon, injuring people in the attack. Two towns in the Nabatieh area also came under Israeli artillery shelling.

Ministry of Foreign Affairs: We hope the Strait of Hormuz will resume safe and free passage as soon as possible.

At a regular press briefing on the 15th, Foreign Ministry spokesperson Lin Jian said in response to a question that the Strait of Hormuz is an important strait for international navigation, and restoring stability in the strait serves the common interests of regional countries and the international community. China has noted that the first-phase memorandum of understanding reached between Iran and the United States includes provisions such as reopening the strait. “We hope the strait will restore safe and free passage as soon as possible, and China is willing to maintain communication with regional countries and the international community on relevant issues.”

[Israeli Defense Minister: Israeli forces will not withdraw from Lebanon; this has been communicated with the United States]

On the 15th local time, Israeli Defense Minister Katz issued a statement saying that the Israel Defense Forces will not withdraw from the front lines in Lebanon and other areas, and that Israeli leadership has communicated on this matter with senior U.S. officials. Katz stated, "Prime Minister Netanyahu and I are leading a clear policy that the Israel Defense Forces will remain indefinitely in the 'security zones' in Lebanon, Syria, and the Gaza Strip to protect Israel's borders and settlements from threats posed by armed forces."

Qatar welcomes the memorandum of understanding reached between the United States and Iran.

On the 15th, Qatar’s Ministry of Foreign Affairs issued a statement welcoming the memorandum of understanding reached between the United States and Iran to resolve outstanding issues between the two sides and ensure freedom of navigation through the Strait of Hormuz, describing it as an important step toward consolidating sustainable peace and promoting regional and international economic growth.

Trump said that if the U.S. and Iran do not reach a nuclear agreement, military strikes will be resumed.

On the 14th, U.S. President Trump said that if Iran fails to reach a final nuclear agreement with the United States, he will resume military strikes against Iran, “or make the United States the ‘guardian of the Middle East’ in exchange for 20% of the region’s revenue.”

Price Information:

RMB central parity rate against the U.S. dollar hits highest level since February 10, 2023.

The RMB central parity rate against the U.S. dollar was set at 6.8088, up 21 points; the previous trading day's central parity rate was 6.8109, the previous trading day's official closing rate was 6.7616, and the previous night's session closed at 6.7641.

[Upstream Raw Material USD Market Prices]

On June 12, CFR Northeast Asia ethylene was priced at USD 920/ton, down USD 10/ton, while CFR Southeast Asia was priced at USD 935/ton, down USD 15/ton.

The average price of propylene in Northeast Asia was stable at $1,080/ton FOB Korea, while the average CFR China price was stable at $1,110/ton.

North Asia refrigerated cargo CFR: propane USD 703–705/mt; butane USD 753–755/mt.

CIF prices for refrigerated cargo in South China in early July: propane USD 772–782/ton; butane USD 832–842/ton.

Taiwan refrigerated cargo CIF: propane USD 703–705/ton; butane USD 753–755/ton.

LLDPE US dollar market price

Thin film: USD 1,230/ton (CFR Huangpu);

[HDPE USD Market Price]

Film: $1,180/ton (CFR Huangpu);

Hollow: USD 1,300/ton (CFR Yantian);

Injection molding: $1280/ton (CFR Yantian);

[LDPE USD market price]

Thin film: USD 1,360/ton (CFR Huangpu);

[PP USD Market Price]

Homopolymer: USD 1,380/ton (CFR Huangpu);

Copolymer: USD 1,370/ton (CFR Nansha);

Membrane material: USD 1,580/ton (CFR Huangpu);

Transparent: USD 1,455/ton (CFR Huangpu);

Edited by: Yun Shimeng (Carrie)