Ascend's Restructuring Plan Approved! Jwell Launches Global Acceleration Plan; Nexperia Chip Crisis Threatens Global Auto Production

International News Guide

Raw Material News - Ascend's Restructuring Plan Approved by Court, Expected to Be Completed in Q4

Automotive News - Nexperia Crisis: Netherlands Seeks Solutions, Volkswagen and Auto Industry in Difficulty

Medical News - Over 1 Million Units! Boston Scientific's Most Severe-Level Recall

Other News - Germany's Largest Sporting Goods Retailer Plans to Relocate Production to China

Macroeconomic News - USD Exchange Rate Fluctuation Range Nears Narrowest Since 2013

Price Information - Ethylene Asia: CFR Northeast Asia USD 780/ton; CFR Southeast Asia USD 770/ton

Details of International News

1.EU Approves Package Plan to Simplify Chemical Safety Assessment

According to Plastmatch on October 22, the European Parliament issued a statement on October 21, stating that it has adopted the "one substance, one assessment" package plan, aiming to simplify EU chemical-related rules and enhance their transparency.

The European Parliament said: "The plan includes three proposals. By improving the availability and accessibility of chemical-related data and maximizing the synergy between relevant EU institutions, it simplifies the chemical safety assessment work under the EU legislative framework."

This reform is part of the 2020 EU Chemicals Strategy for Sustainability and the EU's "Zero Pollution Vision for 2050".

2.BASF and IFF Collaborate to Develop Next-Generation Enzymes for Textiles, Personal Care and Industrial Cleaning

BASF, a global leader in the chemical industry and sustainable product innovation, recently announced a strategic cooperation with International Flavors & Fragrances Inc. (IFF).

As a global leader in bioscience innovation, IFF will work with BASF to accelerate the development of IFF's "Designed Enzymatic Biomaterials™" technology platform and create next-generation enzyme technologies for fabric care, dishwashing, personal care and industrial cleaning applications.

This cooperation brings together two industry leaders with a shared vision: to develop high-performance and sustainable solutions to meet the evolving needs of consumers and markets. By integrating BASF and IFF's expertise in advanced chemical capabilities, biotechnology and protein engineering, the cooperation aims to launch breakthrough solutions on a large scale—enhancing cleaning performance, optimizing personal care formulations, reducing environmental impact, and facilitating the transition to a more sustainable future.

3. Erema and BlockTexx Solve Mixed Textile Recycling Dilemma

At the 2025 K Show in Germany, the Erema Group announced a strategic investment in BlockTexx, a cleaning technology company. This Australian pioneering enterprise has developed a process to separate polyester and cellulose from mixed textiles.

By integrating the technologies of the two companies, this cooperation aims to scale up post-consumer textile-to-textile recycling to an industrial level. Through the strategic cooperation, the Erema Group emphasizes its commitment to returning polyester to the garment production cycle and expanding the scale of textile-to-textile recycling.

4.Germany's Largest Sporting Goods Retailer Plans to Relocate Production to China

According to a report by the UK's Financial Times (FT), Intersport, one of the world's largest sporting goods retailers, is considering relocating its production to China.

One reason this report has attracted attention is that it comes at a time when discussions are ongoing about whether sports brands and other companies in labor and capital-intensive industries will move production from China to other Asian countries with lower U.S. tariff rates. However, reports about Intersport's move reveal the more subtle and complex situation of Asia's supply chain.

The background of this decision is closely related to the industrial chain fluctuations caused by U.S. tariff policies.

5.Syensqo Wins Four 2025 SPE Automotive Awards, Gaining Industry Recognition for Innovative Sustainable Materials

Syensqo, a global leader in high-performance polymers, proudly announced that it has received four recognitions from the Society of Plastics Engineers (SPE) at the 2025 SPE Automotive Awards for its joint innovation achievements with partners.

Selected by a jury of 35 industry experts after rigorous evaluation of the sustainability impact and technological innovation of the participating projects, the awards ceremony was held in Bonn, Germany.

In the "Chassis & Structural Components" category, the rear axle steering toothed pulley jointly developed by Syensqo and ZF Group won the first prize. Manufactured using Syensqo's Ryton® BR111 BL material, this component fully demonstrates the innovative application value of specialty polymers in core automotive systems.

6.Ascend's Restructuring Plan Approved by Court, Expected to Be Completed in Q4

Ascend Performance Materials (hereinafter referred to as "Ascend" or "the Company"), a globally renowned manufacturer of high-performance durable chemicals and engineering materials whose products are widely used in daily life and emerging technologies, announced that the U.S. Bankruptcy Court for the Southern District of Texas has approved the disclosure statement for the Company's Chapter 11 restructuring plan.

This restructuring is an important measure for the Company to proactively address challenges and move towards high-quality development. After the completion of the restructuring, the Company's capital structure will be significantly optimized, and its risk resistance and market competitiveness will be further enhanced, making it a healthy and well-capitalized company.

7.Jwell Machinery Launches 2025 Global Acceleration Plan, Further Expands Overseas Layout

During the 2025 K Show, in accordance with the latest strategic deployment of the board of directors, Jwell Machinery officially launched a comprehensive acceleration plan for its internationalization process. With the core of "deepening the global market and meeting customer needs", the plan focuses on countries with strong world economies and high-potential regions, promotes the construction of overseas after-sales service centers in phases, and upgrades to "service center + factory" composite bases in mature markets. It aims to build a global, responsive manufacturing and service network to provide more efficient and high-quality support for global customers.

The United States, Brazil, Vietnam, Saudi Arabia... Whether it is the American market with strong economic vitality, the Eurasian region with a solid industrial foundation, or the high-potential North African and Southeast Asian markets, all are included in the key promotion scope of this internationalization strategy.

8.Report: Tariffs on U.S.-Bound Autos and Parts from Canada, Mexico to Exceed $10 Billion This Year

According to foreign media reports, an analysis report released by the Anderson Economic Group on October 16 shows that in the first 10 months of this year, automakers have paid a total of $10.6 billion in tariffs for autos and parts shipped from Canada and Mexico to the United States.

The analysis report includes official data from the U.S. Census Bureau up to July this year, as well as estimates of tariff costs from August to October, which intuitively reflects the huge expenditure brought by auto tariffs to the industry.

Currently, most enterprises choose to bear this part of the cost themselves rather than pass it on to new car consumers; however, analysts predict that as tariff costs continue to accumulate and corporate profits shrink, car prices will eventually rise.

9.Nexperia Crisis: Netherlands Seeks Solutions, Volkswagen and Auto Industry in Difficulty

Due to the disruption of chip supply from Nexperia, Volkswagen plans to reduce production at its headquarters factory in Wolfsburg. It is expected that the production of the Golf will be stopped first, and then the production of the Tiguan may also be interrupted.

However, when asked about the matter, Volkswagen emphasized that the suspension of production of the Golf and Tiguan is due to "planned inventory counting measures", and regular production is scheduled to resume next week, which has nothing to do with the Nexperia incident.

Volkswagen stated that Nexperia is not its direct supplier, but its chips are included in the components that Volkswagen obtains from suppliers. A Volkswagen spokesperson said that the planned production interruption in Wolfsburg has nothing to do with the chip shortage. Nevertheless, the company is still closely monitoring the situation and maintaining close communication with all relevant parties to identify risks as early as possible.

10.Over 1 Million Units! Boston Scientific's Most Severe-Level Recall

Recently, the U.S. Food and Drug Administration (FDA) has made a final decision to recall more than 1 million units of Boston Scientific's series of pacemakers. As of October 10, these devices are all classified as Class I recalls—the most severe level, meaning they pose a risk of serious injury or even death.

Overseas Macroeconomic Market

Industry Weekly Report: U.S. API Crude Oil Inventories Fell by Nearly 3 Million Barrels Last Week
Data from the American Petroleum Institute (API) showed that U.S. API crude oil inventories decreased by 2.981 million barrels last week, compared with an increase of 7.4 million barrels in the previous week.

Oil Prices Rise; Trump Administration to Refill Strategic Petroleum Reserve; Report Says Russia Has Actually Rejected Trump's Peace Proposal on Russia-Ukraine War

The U.S. Department of Energy plans to purchase 1 million barrels of oil for the Strategic Petroleum Reserve (SPR). According to Reuters, Russia privately sent a "non-paper" message to the United States, rejecting Trump's proposal to "freeze the war based on the current frontline".

USD Exchange Rate Fluctuation Range Nears Narrowest Since 2013

USD trading has become unusually subdued, with an indicator showing that USD trading is in its calmest state in more than a decade; the period around the U.S. government shutdown, coupled with foreign political tensions, has increased the complexity of foreign exchange risks.

In the past 60 trading days, the Bloomberg Dollar Spot Index has stayed within one standard deviation above and below its average about 80% of the time. Earlier this month, this proportion reached 88%, the highest level since 2013.

Price Information


The central parity rate of CNY against USD

The central parity rate of CNY against USD was reported at 7.0954, a decrease of 24 pips; the central parity rate of the previous trading day was 7.0930, the official closing price of the previous trading day was 7.1171, and the night session closing price of the previous day was 7.1250.

Upstream Raw Material USD Market Prices

Ethylene Asia: CFR Northeast Asia USD 780/ton; CFR Southeast Asia USD 770/ton.

Propylene Northeast Asia: FOB South Korea average USD 740/ton (down USD 10/ton); CFR China average USD 760/ton (down USD 15/ton).

North Asia refrigerated cargo CIF price: Propane USD 442-443/ton; Butane USD 478-479/ton.

South China (China) refrigerated cargo CIF price for early November: Propane USD 515-515/ton; Butane USD 515-525/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 442-443/ton; Butane USD 478-479/ton.

LLDPE USD Market Prices

Film: USD 830-870/ton (CFR Huangpu);

Injection Molding: USD 935/ton (CFR Huangpu).

HDPE USD Market Prices

Film: USD 870-900/ton (CFR Huangpu);

Blow Molding (Hollow): USD 830-860/ton (CFR Huangpu);

Pipes: USD 1010/ton (CFR Huangpu).

LDPE USD Market Prices

Film: USD 1030-1060/ton (CFR Huangpu);

Coating: USD 1280/ton (CFR Huangpu).

PP USD Market Prices

Injection Molding: USD 840-915/ton (CFR Huangpu);

Copolymer: USD 850-870/ton (CFR Nansha);

Transparent Grade: USD 1000-1125/ton (CFR Huangpu);

Pipes: USD 1100/ton (CFR Shanghai).