SABIC’s PC Resin Secures UL Certification! Amcor Joins Packaging Circular Initiative; Covestro Innovates Automotive Coating Technology

International News Guide:

Raw Material News - Ineos and UK government commit £150 million investment to secure future of Grangemouth chemical site

Packaging News - Amcor joins a three-year new project aiming to advance circular recycling of food packaging

Medical News - Fluorine-free "forever chemicals"! SABIC’s new PC copolymer resin obtains UL certification

Automotive News - Covestro accelerates coating innovation for automotive interior and exterior components with direct coating process (in-mold coating technology)

Macroeconomic News - South Korean presidential office to discuss foreign exchange issues with exporters

Price Information - CNY/USD central parity rate at 7.0583, down 10 pips

1. Ineos and UK Government Commit £150 Million Investment to Secure Future of Grangemouth Chemical Site

Ineos Group announced it will invest £150 million to secure the future operation of its ethylene complex in Grangemouth, UK, including £125 million in funding support from the UK government. The company stated on December 17 that the funds are planned to "upgrade key production facilities, improve energy efficiency, reduce emissions and enhance the site’s competitiveness."

It is reported that the investment will receive a £50 million grant from the UK government and a £75 million loan guaranteed by the government with the assistance of NatWest Bank. Specific details and timetables for the upgrade project have not been disclosed. Once ExxonMobil closes its 830,000-tonne-per-year Fife ethylene plant in Mossmorran, Scotland, in February 2026 as previously announced, the Grangemouth site will become the only remaining steam cracker in the UK.

In November this year, ExxonMobil cited reasons for the plant closure, including the UK’s "economic and policy environment" and failure to find a buyer due to "high supply costs and plant efficiency issues."

2. Fluorine-free "Forever Chemicals"! SABIC’s New PC Copolymer Resin Obtains UL Certification

Global chemical giant SABIC recently announced the launch of its first polycarbonate (PC) copolymer resin free of fluorine and per- and polyfluoroalkyl substances (PFAS, commonly known as "forever chemicals"). The newly released LNP Elcres NPCRX9612U resin has passed UL 746G certification, a specialized test standard for fluorine-free, PFAS-free materials.

According to information on UL’s official website, this standard specifies the evaluation methods for PFAS in virgin and recycled resins, and establishes clear sample requirements and testing specifications based on material types.

3. Clariant’s CATOFIN™ Catalyst Continues to Support Excellent Operation of Ningxia Runfeng’s PDH Unit

Clariant recently announced that its high-performance CATOFIN catalyst and heat-generating materials have delivered outstanding performance at Ningxia Runfeng New Materials Technology Co., Ltd.’s (Ningxia Runfeng) propane dehydrogenation (PDH) unit.

Located in the Ningdong Energy and Chemical Industry Base in Yinchuan, Ningxia, the unit has a designed annual propylene capacity of 300,000 tonnes and adopts CATOFIN technology and Clariant’s tailor-made catalyst solution. Since its successful commissioning in 2021, the unit has maintained stable operation.

Benefiting from the excellent performance of the catalyst, the unit once again selected CATOFIN catalyst and successfully started up in August 2025. Up to now, the unit has achieved stable operation with excellent operating indicators.

4. Covestro Accelerates Coating Innovation for Automotive Interior and Exterior Components with Direct Coating Process (In-mold Coating Technology)

Covestro is strengthening its global support for the "direct coating process – in-mold coating technology" – an improved two-shot molding process that combines injection molding with polyurethane coating. This technology can reduce costs and energy consumption, simplify production processes, and manufacture coated plastic components with higher quality and more flexible design for automotive applications.

The importance of this technology lies in: traditional automotive parts coating processes usually involve multiple steps, each increasing costs, consuming energy and limiting design freedom. Covestro’s direct coating process transfers the molded part to a second cavity, injects low-viscosity two-component polyurethane (2K PU) and cures it in the mold. This integrated process eliminates the need for traditional coating or painting production lines, shortens cycle time, simplifies operation procedures, and enables more flexible and scalable production of various coating designs (including tactile and visual effects).

5. End of an Era! 120-Year-Old German Textile Machinery Giant Announces Permanent Shutdown

According to multiple sources, Mayer & Cie., the once world-renowned German textile machinery giant, is about to close permanently, and the Amtsgericht Hechingen has initiated bankruptcy proceedings.

The relevant shutdown arrangements are as follows: termination notices have been sent to all 270 employees, most positions will be eliminated by February 2026, and only a small number of employees will remain to handle the company’s final liquidation and complete the remaining orders. Afterwards, the company will sell its remaining machinery and equipment, inventory and real estate.

6. Nexchem, a Subsidiary of Maier Group, Awarded Feasibility Study Project for PMMA Chemical Recycling Plant in Germany

Maier Group announced that its subsidiary Nexchem, through its holding company Merremono, has been awarded a fixed-point feasibility study project by Röhm GmbH. The project will construct a chemical recycling plant for polymethyl methacrylate (PMMA) waste at Röhm’s production site in Worms, southwest Germany.

This cooperation aligns with Röhm Group’s strategic goal – to completely eliminate the incineration and landfilling of PMMA-related production waste through recycling by 2030. This move once again demonstrates Röhm’s firm commitment to promoting the circular economy and developing sustainable materials in the PMMA industry.

7. Amcor Joins a Three-Year New Project Aiming to Advance Circular Recycling of Food Packaging

Amcor announced that it will participate in a three-year plastic recycling project led by the Technical University of Denmark. The project aims to achieve full circular recycling of polyethylene (PE) and polypropylene (PP) rigid plastic packaging collected from households.

The jointly funded innovative partnership, named "Circular Recycling Innovation for Sustainable Packaging (CRISP)", will also involve food manufacturers and waste management experts. Amcor stated that it will contribute its recycling and technical knowledge accumulated at its CleanStream facility in Leamington Spa, UK, and its packaging production facility in Randers, Denmark, while sharing its skills and experience in producing and designing food packaging from recycled materials.

The CRISP partnership aims to make an important contribution to Denmark’s circular plastic economy. The project is aligned with the EU’s target of achieving a 55% plastic recycling rate by 2030 and the Packaging and Packaging Waste Regulation (PPWR). The PPWR stipulates that by 2030, most plastic packaging must be designed to be recyclable to enable effective reuse or recycling of materials.

Macroeconomic News:

1. South Korean Presidential Office to Discuss Foreign Exchange Issues with Exporters

Citing informed sources from the presidential office, the Korea Economic Daily reported that Kim Yong-beom, Chief of Staff of the South Korean Presidential Office, will hold an emergency meeting with seven major companies on Thursday to discuss foreign exchange-related issues. These companies include Samsung Electronics, SK Group, Hyundai Motor, LG Group, Lotte Group, Hanwha Group and Hyundai Group. The presidential office is expected to discuss measures with exporters to encourage enterprises to convert their US dollar holdings into Korean won.

2. Yonhap News Agency: South Korea to Announce Relaxed Policies to Increase US Dollar Liquidity

South Korea’s Vice Finance Minister stated in an interview that South Korea will announce relaxed rules to expand US dollar liquidity. The government is considering easing regulations on domestic financial institutions, export enterprises and foreign companies in South Korea to increase US dollar liquidity in the foreign exchange market. These measures will be announced later today.

3. Securities Daily: Experts Expect More Policies Focused on Lowering Housing Purchase Thresholds in China Next Year

Relevant person in charge of China Index Academy expects that China will introduce more targeted policies next year focusing on lowering housing purchase thresholds and reducing housing purchase costs. Specifically, first of all, restrictive policies in cities such as Beijing, Shanghai and Shenzhen have room for further optimization. Secondly, in terms of reducing housing purchase costs, it is expected that next year will continue to advance by lowering mortgage interest rates, reducing intermediary fees, and increasing the deduction of mortgage interest from personal income tax. Finally, against the background of "investing in people", increasing housing purchase subsidies will also be an important measure for various regions to promote the release of housing demand.

4. Informed Sources: US and Russia to Hold Talks in Miami This Weekend

Two informed sources revealed that US and Russian officials are expected to hold a meeting in Miami, USA, this weekend. The relevant plans are still being formulated. One informed source said that the Russian delegation is expected to include Kirill Dmitriev, CEO of the Russian Direct Investment Fund, while the US delegation will include Brett McGurk, US Special Envoy for the Middle East, and Jared Kushner, son-in-law of Donald Trump.

Price Information:

CNY/USD central parity rate: Reported at 7.0583, down 10 pips; the central parity rate of the previous trading day was 7.0573, the official closing price of the previous trading day was 7.0460, and the overnight closing price was 7.0450.

Upstream raw material USD market prices:

Ethylene: $745 per ton (CFR Northeast Asia); $725 per ton (CFR Southeast Asia)

Propylene (Northeast Asia): Average FOB South Korea price of $715 per ton; average CFR China price of $750 per ton

Refrigerated cargo CIF prices (North Asia): Propane ranges from $545 to $547 per ton; butane ranges from $600 to $602 per ton

Refrigerated cargo CIF prices (South China, early January): Propane between $583 and $593 per ton; butane between $573 and $583 per ton

Refrigerated cargo CIF prices (Taiwan Region): Propane ranges from $545 to $547 per ton; butane ranges from $600 to $602 per ton

Polyolefin USD market prices (CFR Huangpu unless specified):

LLDPE: Film grade $760-$780 per ton; injection grade $870 per ton

HDPE: Film grade $870-$885 per ton; injection grade $780 per ton; hollow grade $820-$850 per ton; pipe grade $1000 per ton

LDPE: Film grade $990-$1015 per ton; coating grade $1050-$1180 per ton (CFR Qingdao)

PP: Injection grade $780 per ton; copolymer $830-$855 per ton (CFR Nansha); film grade $970-$985 per ton; transparent grade $1080 per ton (CFR Dongguan, January arrival); pipe grade $1100 per ton (CFR Shanghai)