LyondellBasell and Polynt collaborate to advance styrene solutions for marine applications! Teijin Automotive Technologies North America Transforms into Independent Private Entity

International News Digest:

• Raw Material News -LyondellBasell and Polynt collaborate to advance styrene solutions for marine applications;
• Circular Economy News - Your Sunscreen May Be Making Plastic Marine Pollution Worse;
• Automotive News - Teijin Automotive Technologies North America renamed CSP, transforming into an independent private enterprise;
• Packaging News - EuPC warns reusable alternatives to SUP pallet wraps could backfire
• Macro News - Malaysia strengthens export controls on U.S. high-end AI chips;
• Price Information - Central parity rate of RMB against USD reported at 7.1491, down 16 pips.

Details of International News:

1. Covestro AG: Reduced outlook for 2025

Covestro reduces its forecast for EBITDA, free operating cash flow (FOCF) and return on capital employed over weighted average cost of capital (ROCE over WACC) for fiscal year 2025. This is a consequence of a continuously weak global economy without signs of a short-term recovery. 

2.Your Sunscreen May Be Making Plastic Marine Pollution Worse

Scientists have identified a new threat to marine ecosystems from sunscreen – specifically a common active ingredient that may be quietly supercharging ocean plastic pollution.A team of researchers at Scotland’s University of Stirling launched a first-of-its-kind exploration of the combined effects of plastic pollution and chemical contaminants from sunscreen. The study focuses on a phenomenon known as “co-pollution,” in which marine plastics serve as a platform for other pollutants like ultraviolet (UV) filters. 

3. LyondellBasell and Polynt collaborate to advance styrene solutions for marine applications

LyondellBasell announces the expansion of its long-standing collaboration with Polynt, a global expert in specialty polymers and intermediates. Together, the companies are working to develop a high-quality resin for the marine industry, which leverages the LYB Styrene +LC (low carbon) solution.

4. Singapore's PCX Launches Recycled Plastic Trading Platform, Using Market Forces to Accelerate the Transformation of Plastic Circular Economy

Plastmatch reported on July 14 that PCX Markets, a Singapore-based plastic credit platform, has launched a recycled plastic trading market. The service, named PCX Circular Plastic, provides brands with recycled PET, HDPE, LDPE, PP, and PE in the forms of flakes, pellets, and powders. These recycled materials come from five recycling partners with a total annual capacity of 70,000 tons across Indonesia, India, and the Philippines.

5. EuPC warns reusable alternatives to SUP pallet wraps could backfire

A transition from single-use plastic (SUP) pallet wraps to a reusable solution would come with additional costs that could be another blow to Europe’s competitiveness, according to the results of a study commissioned by the European Plastics Converters (EuPC) association.
Looking at eight key sectors, the study sees carbon emissions rising by up to 1700%, with an estimated additional annual cost of EUR 4.9 bn. EuPC noted that the impact across the EU could be more substantial.

6. Teijin Automotive Technologies North America Renamed CSP, Transforming into an Independent Private Enterprise

As part of its transformation into an independent private enterprise, Teijin Automotive Technologies North America has been renamed CSP. This rebranding follows the acquisition of the Auburn Hills, Michigan-based company by Aurelius Private Equity Mid-Market Buyout from Munich, Germany, in March 2025.

Overseas Macro Market Information:

【Malaysia Strengthens Export Controls on U.S. High-End AI Chips】

Malaysia has tightened export controls on U.S. high-end artificial intelligence chips, implementing a licensing system for trade in such chips.

【Bank of England Governor Bailey Warns Banks Against Issuing Their Own Stablecoins】

Bank of England Governor Bailey warned some of the world's largest banks against issuing their own stablecoins. In an interview with The Times, he stated that he "would much prefer" banks to offer digital versions of traditional currencies—known as tokenized deposits—rather than issuing stablecoins. He also warned that stablecoins could drain funds from the banking system, reducing the availability of capital for lending.

【Second Round of Negotiations for the Upgrade of China-Switzerland Free Trade Agreement Held in Switzerland】

From July 7 to 10, the second round of negotiations for the upgrade of the China-Switzerland Free Trade Agreement was held in Geneva, Switzerland. The two sides conducted in-depth discussions on issues such as trade in goods, trade in services, investment, rules of origin, trade facilitation, competition, environment and trade, and economic and technological cooperation, achieving positive progress.

【Japan's Long-Term Bond Yields Continue to Rise】

Japan's 40-year government bond yield rose by 16.5 basis points to 3.49%; the 20-year government bond yield climbed to its highest level since 2000.

Price Information:

【Central Parity Rate of RMB against USD】

The central parity rate of RMB against USD was reported at 7.1491, down 16 pips; the central parity rate of the previous trading day was 7.1475, the official closing price of the previous trading day was 7.1710, and the night session closing price of the previous day was 7.1702.

【USD Market Prices of Raw Materials】

Ethylene Asia: CFR Northeast Asia at USD 820/ton; CFR Southeast Asia at USD 830/ton.
Propylene Northeast Asia: FOB Korea average at USD 740/ton; CFR China average at USD 775/ton.
North Asia frozen cargo CIF price: Propane at USD 538-540/ton; Butane at USD 508-510/ton.
South China frozen cargo CIF price for early August: Propane at USD 567-574/ton; Butane at USD 537-544/ton.
Taiwan region frozen cargo CIF price: Propane at USD 538-540/ton; Butane at USD 508-510/ton.

【LLDPE USD Market Prices】

Film: USD 875-910/ton (CFR Huangpu);
Injection molding: USD 950/ton (CFR Dongguan).

【HDPE USD Market Prices】

Film: USD 920/ton (CFR Huangpu);
Blow molding: USD 855-860/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1,070-1,110/ton (CFR Huangpu);
Coating: USD 1,350/ton (CFR Huangpu).

【PP USD Market Prices】

Homopolymer: USD 935-965/ton (CFR Huangpu), down USD 15/ton;
Copolymer: USD 965-995/ton (CFR Huangpu);
Film grade: USD 1,000/ton (CFR Huangpu);
Transparent grade: USD 1,085/ton (CFR Huangpu);
Pipe grade: USD 1,160/ton (CFR Shanghai).