Avient Corporation has announced the introduction of the first grade in its new ColorMatrix Amosorb Oxyloop portfolio of oxygen scavengers, ColorMatrix Amosorb Oxyloop-1. Formulated to enhance the recycling capabilities of Polyethene Terephthalate (PET) packaging, the oxygen scavenging additive offers a solution that helps extend shelf life, meet sustainability goals, and accelerate the transition towards a circular economy.
Multiple Countries Reach Trade Agreements Intensively! Avient and Arkema Launch New Products; Toyota Acquires Radius
International News Highlights:
Raw Material News - CIRCLE Act Targets $30B Recycling Industry Boost
Auto New-Toyota-Tsusho Cnompletes Acquisition of Radius Recycling
Packaging News - M&S Trials UV-tagged Milk bottles to Track Plastics Recycling
Additives News - Avient launches its ColorMatrix Amosorb Oxyloop portfolio
Medical News - i-Foria launches demo plant in Northern Italy for recycling absorbent hygiene products
Overseas Macro Updates - ADB Lowers Growth Forecast for Developing Economies in Asia-Pacific Amid U.S. Tariff Policies
Price - USD/CNY Central Parity Rises to Highest Level Since November 6, 2024
International News Details:
1 Major Tariff Uncertainty!
China-U.S. to Hold Talks Next Week
Regarding China-U.S. trade, Bessent revealed that the two countries have held "constructive" discussions, and the August 12 deadline for imposing tariffs on China may be extended again. The two countries will hold trade talks in Stockholm, Sweden next Monday and Tuesday to discuss the extension and China's purchase of oil from Russia and Iran.
Previously, U.S. Republican Senator Lindsey Graham told ABC that a new bill he proposed to sanction Russia is expected to pass in Congress in July, with Trump currently expressing support. He also threatened that if China and India purchase Russian energy to support "Putin's machine," the U.S. will impose 500% tariffs on imported products from China and India under this bill. In addition, Bessent disclosed that China and the U.S. have held "constructive" discussions, and the August 12 deadline for tariffs on China may be extended again.
Japan-Japan Reach Trade Agreement
On July 22 local time, U.S. President Trump announced via social media that the U.S. and Japan have reached a trade agreement: a 15% tariff rate on Japan and $550 billion in Japanese investment in the U.S. Trump posted on his social platform "Truth Social" that the U.S. has just reached a "huge" agreement with Japan, possibly the largest ever. He stated that under his instruction, Japan will invest $550 billion in the U.S., and the U.S. will receive 90% of the profits. This agreement will create hundreds of thousands of jobs.
Trump also said that perhaps most importantly, Japan will open its market for trade, including automobiles, trucks, rice, and other agricultural products and goods. Japan will pay a 15% reciprocal tariff to the U.S. Japan was one of the first countries to start trade negotiations with the U.S., with Japanese negotiators visiting the U.S. multiple times, and the two sides deadlocked over issues such as automobiles and agriculture. Trump recently threatened to raise tariffs on Japan to 25% and set an August 1 negotiation deadline.
Philippines Grants Zero Tariffs to the U.S.
According to U.S. political news website Politico, U.S. President Trump announced on social media that after meeting with Philippine President Marcos at the White House on the 22nd local time, the U.S. has reached a trade agreement with the Philippines. Trump posted on his "Truth Social" platform: "It was a pleasant visit, and we reached a trade agreement. The Philippines will open its market to the U.S. and implement zero tariffs." Trump also said that the U.S. will impose a 19% tariff on goods imported from the Philippines. Currently, the White House has not released more details of the U.S.-Philippines trade agreement, and the final terms of the agreement have not been formally confirmed by the Marcos government.
Trump also stated that the United States will impose a 19% tariff on goods imported from the Philippines.
The White House has not yet released further details of the U.S.-Philippines trade agreement, and the final terms of the agreement have not been officially confirmed by the Marcos administration.
White House Releases U.S.-Indonesia Trade Agreement Framework, Final Negotiations Underway
In a joint statement on Tuesday afternoon, the White House disclosed that the U.S. and Indonesia have reached an agreement on a trade agreement framework, under which Indonesia will eliminate tariffs on most U.S. imports. Under this document called the "Reciprocal Trade Agreement," the U.S. will set tariffs on Indonesian imports at 19%. Although this rate is higher than the 10% benchmark tariff the U.S. imposes on almost all other countries, it is much lower than the 32% uniform tariff initially set for Indonesian goods in President Trump's "Liberation Day" tariff plan in April this year.
In a joint statement on Tuesday afternoon, the White House disclosed that the U.S. and Indonesia have reached an agreement on a trade agreement framework, under which Indonesia will eliminate tariffs on most U.S. imports. Under this document called the "Reciprocal Trade Agreement," the U.S. will set tariffs on Indonesian imports at 19%. Although this rate is higher than the 10% benchmark tariff the U.S. imposes on almost all other countries, it is much lower than the 32% uniform tariff initially set for Indonesian goods in President Trump's "Liberation Day" tariff plan in April this year.
The joint statement noted that the U.S. and Indonesia will "continue negotiations and finalize details of the Reciprocal Trade Agreement" in the coming weeks. It also stated that during this period, the two countries will "prepare for the signing of the agreement and complete domestic procedures before its entry into force."
2. CIRCLE Act Targets $30B Recycling Industry Boost
Lawmakers on Capitol Hill will consider the Cultivating Investment in Recycling and Circular Local Economies (CIRCLE) Act of 2025, a bipartisan bill introduced recently by US Rep. Tom Suozzi, D-NY, and US Rep. Brian Fitzpatrick, R-PA.
House Resolution 4466, currently in the Ways and Means Committee, would enhance recycling infrastructure and strengthen domestic manufacturing by establishing a targeted 30% investment tax credit for qualified investments in new or upgraded recycling infrastructure, phased out over 10 years.
3. Avient launches its ColorMatrix Amosorb Oxyloop portfolio
4. Arkema Launches New Brand Name Zenimid™ for Its Flagship High-Performance Polyimide Product Line
Arkema and its affiliate PI Advanced Materials announced the launch of Zenimid™, a new brand name for their flagship high-performance polyimide product line. This move marks a significant step for PI Advanced Materials in expanding the global reach of its product line across multiple markets including aerospace, automotive, electronics, and industry. Zenimid™ polyimides are specifically designed for use in the harshest environments, offering excellent dimensional stability, flexibility, heat resistance, chemical resistance, and electrical insulation.
5. i-Foria launches demo plant in Northern Italy for recycling absorbent hygiene products
A new demonstration plant for the full recycling of absorbent hygiene products (AHPs)—including diapers, incontinence pads and sanitary napkins—was inaugurated Tuesday at the i-Foria Engineering Center in Spresiano, northeastern Italy.
6. AGC Inc. Transfers Polycarbonate Business, Sumitomo Bakelite Takes Over for a New Chapter
On July 22, Japan's AGC Inc. officially announced that it has reached an agreement with Japan's Sumitomo Bakelite Co., Ltd. to transfer its polycarbonate business to Sumitomo Bakelite. This decision is no accident but an important adjustment based on AGC's strategic planning.
7. European Bioplastics Association Relocates to Brussels, New Secretary-General Takes Office to Boost Strategic Development
The European Bioplastics Association (EUBP), the authoritative body representing the interests of Europe's bioplastics industry, has officially relocated its headquarters to Brussels. This relocation demonstrates the organization's determination to deepen lobbying with EU institutions, expand industry networks, and enhance policy influence. Along with the headquarters relocation, the association announced the appointment of Lorenza Romanese as the new Secretary-General. This manager with rich leadership experience in sustainable development and public affairs will lead the association into a new phase of strategic development and further integrate into the EU policy system.
8. M&S Trials UV-tagged Milk bottles to Track Plastics Recycling
British retailer Marks & Spencer (M&S) has introduced invisible UV tags to the labels of its 4-pint milk bottles in an effort to improve tracking of how its plastics packaging is recycled. The move makes it the first UK retailer to put this type of technology on supermarket shelves.
The UV tags are applied to product labels and cannot be seen by customers. Once the bottles are collected for recycling, they are scanned at participating facilities, allowing data to be sent back to the retailer.
9. Toyota-Tsusho Completes Acquisition of Radius Recycling
Toyota Tsusho America Inc. (TAI), a United States subsidiary of Toyota Tsusho Corp. and the larger Toyota Group of Japan, has completed its acquisition of Radius Recycling Inc. Radius is a Portland, Oregon-based company formerly known as Schnitzer Steel Industries Inc. that operates a recycled-content electric arc furnace steel mill in Oregon, more than 50 metals recycling facilities and about 50 Pick-N-Pull auto dismantling locations.
Overseas Macro Updates:
U.S. and Japan Agree to Maintain Steel Tariffs, Lower Auto Tariffs
According to reports, Japanese government officials stated that Japan and the U.S. have agreed to lower auto tariffs to 15% and maintain a 50% tariff on steel.
ADB Lowers Growth Forecast for Developing Economies in Asia-Pacific Amid U.S. Tariff Policies
On July 23, the Asian Development Bank released the "Asian Development Outlook 2025 (July Edition)," lowering the 2025 economic growth forecast for developing economies in the Asia-Pacific region to 4.7% and the 2026 growth forecast to 4.6%. The ADB stated that the downgrade is mainly due to U.S. tariff policies, global trade uncertainties, and weak domestic demand.
South Korea Sets Red Lines for U.S. Tariff Negotiations
According to Yonhap News Agency, South Korea has set rice and beef as "red lines" in tariff negotiations with the U.S.
Canadian Prime Minister: Only Accept Trade Agreements Most Beneficial to Canada
Canadian Prime Minister Carney stated on the 22nd local time that Canada will argue hard with the Trump administration at the negotiating table to ensure a trade agreement most beneficial to Canada. Carney also said that Canada is currently taking as many measures as possible to support industries affected by tariffs to ensure steady economic growth.
News Reports Claim Japanese Prime Minister to Resign, but Ishiba Denies
The Yomiuri Shimbun reported that Japanese Prime Minister Shigeru Ishiba will announce his resignation. After the news was released, USD/JPY rose briefly above the 147 mark. However, Ishiba himself reaffirmed his intention to stay in office. The 10-year Japanese government bond yield rose 10 basis points to 1.6%, the highest since October 2008.
Trump Says: May Visit China "In the Near Future"
Citing Reuters and Associated Press reports, Global Times stated that U.S. President Trump said on Tuesday (22nd) local time that he may visit China "in the near future." The report noted that he made the statement during a meeting with visiting Philippine President Marcos in the Oval Office of the White House.
Saudi Supermarket Giant Othaim Joins AliExpress to Expand "1-Hour Delivery" Service
Othaim, the largest supermarket chain in Saudi Arabia, has joined Alibaba's cross-border e-commerce platform AliExpress to achieve product and service integration. Since June, consumers can order food, seasonings, daily necessities, and consumer electronics from Othaim via AliExpress, with delivery as fast as 1 hour or in-store pickup. The service will first launch in central Riyadh and gradually expand to other regions in Saudi Arabia.
Price Information:
USD/CNY Central Parity
7.1414, up 46 pips; previous trading day’s central parity 7.1460, previous trading day’s official closing price 7.1756, overnight closing price 7.1695.
Upstream Raw Materials USD Market Prices
Ethylene Asia: CFR Northeast Asia $820/tonne; CFR Southeast Asia $830/tonne.
Propylene Northeast Asia: FOB Korea average price $740/tonne; CFR China average price $770/tonne.
North Asia frozen cargo CIF price: propane $487-489/tonne; butane $467-469/tonne.
South China frozen cargo for second half of August CIF price: propane $518-528/tonne; butane $503-511/tonne.
Taiwan region frozen cargo CIF price: propane $487-489/tonne; butane $467-469/tonne.
LLDPE USD Market Prices
Film: $860-900/tonne (CFR Huangpu);
Injection molding: $950/tonne (CFR Dongguan).
HDPE USD Market Prices
Film: $920/tonne (CFR Huangpu);
Hollow: $855-860/tonne (CFR Huangpu);
Pipe: $1,035/tonne (CFR Huangpu), down $10/tonne.
LDPE USD Market Prices
Film: $1,070-1,075/tonne (CFR Huangpu);
Coating: $1,350/tonne (CFR Huangpu).
PP USD Market Prices
Homopolymer: $965/tonne (CFR Huangpu);
Copolymer: $940-950/tonne (CFR Nansha);
Film material: $1,030/tonne (CFR Nansha);
Transparent: $1,000-1,065/tonne (CFR Huangpu), down $5/tonne;
Pipe material: $1,160/tonne (CFR Shanghai).
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