China-US to Hold Economic and Trade Consultations! Lotte's Indonesian Olefin Complex Put into Operation; Dutch Medical Plastic Closed-Loop Pilot Launched

International News Guide

Raw Materials News - Annual Ethylene Output 1 Million Tonnes! Lotte Chemical Launches Commercial Operation of Indonesian Olefin Complex

Automotive News - German Auto Parts Supplier Webasto Reaches Restructuring Agreement with Banks

Medical News - Closing the Loop on Hospital Plastics

Equipment News - MKV Invests €500,000 to Upgrade Sorting Lines, Enhancing Separation Capacity for Plastic-Metal Composite Parts

Macro News - China and US to Hold Economic and Trade Consultations in Malaysia from October 24 to 27

Price Information - Today's USD/CNY Central Parity Rate: 1 USD = 7.0918 CNY

International News Details

1. Annual Ethylene Output 1 Million Tonnes! Lotte Chemical Launches Commercial Operation of Indonesian Olefin Complex

Lotte Chemical Titan, the Malaysian subsidiary of Lotte Chemical, recently announced that its steam cracker and derivatives complex in Merak, Cilegon, Indonesia—with an investment of USD 3.95 billion—has launched commercial operations. This integrated petrochemical facility has an annual rated capacity of 1 million tonnes of ethylene, 520,000 tonnes of propylene, and 140,000 tonnes of butadiene.

2. Europe Grants Temporary Recyclability Recognition for PEF in PET Multi-Layer Bottles, Valid Until June 2027

Recently, the Technical Committee of the European PET Bottle Platform (EPBP), in response to an application from Dutch sustainable materials company Avantium, completed a new round of assessment on the impact of PEF (polyethylene furanoate) in the PET bottle recycling system.

PEF is a polyester material based on renewable feedstocks, with a chemical structure similar to PET. However, its polyester chain contains FDCA (2,5-furandicarboxylic acid) instead of PTA (purified terephthalic acid). Since FDCA can be derived from plant sugars, PEF is regarded as a more sustainable alternative material with greater carbon reduction potential than PET.

3. Closing the Loop on Hospital Plastics

A pilot program in the Netherlands collected non-contaminated plastic waste at Zuyderland medical center, routed it via a specialized transporter, and converted it into feedstock for new polyethylene through advanced recycling at Sabic. The resulting certified circular material was used in two healthcare applications.

4. Fibrant Plans to Permanently Shut Down Caprolactam Production Facility in Geleen, the Netherlands; Fibrant is Affiliated with China's Hengshen Group

In a recent statement, Fibrant announced plans to permanently shut down its caprolactam production facility in Geleen, the Netherlands. Fibrant stated that this move will also affect the ammonium sulfate plant and all caprolactam-related operations at the production base, with 3 out of 7 production units at the base to be impacted.

The company noted that despite previous cost-saving measures, the financial challenges it faces have proven insurmountable, prompting management to seek solutions to ensure the company's long-term survival.

5. MKV Invests €500,000 to Upgrade Sorting Lines, Enhancing Separation Capacity for Plastic-Metal Composite Parts

MKV, a professional recycling and composite material manufacturer, announced that it will invest approximately €500,000 to enhance its sorting capacity. The company stated that the new production line includes metal separation equipment from Sesotec, crushers from Zeno, and also features a function to remove fine particles.

Kai Zies, Managing Director of MKV, pointed out that this upgrade enables complete material-based separation of mixed parts made of plastic-metal composites.

6. Using PLA Material! Researchers Develop an Innovative Swallowable Device

A research team from the Swiss Federal Institute of Technology Lausanne (EPFL) has recently developed an innovative swallowable device, which is expected to bring a new treatment method for gastrointestinal perforations.

Reportedly, this device—named MEDS (Magnetic Endoluminal Deposition System)—is as small as a pill. Its mode of action breaks the current limitation where perforations caused by gastrointestinal ulcers can only be treated with surgery. The MEDS device resembles a mini pen or syringe in shape. It is filled with sodium alginate gel extracted from seaweed and active human gastric fibroblasts (which are responsible for producing gastric connective tissue). A spring-loaded push rod is installed behind the gel, blocked by a plug made of polylactic acid (PLA). The ink outlet is a gold-plated neodymium-iron-boron ring magnet nozzle, with a clear "front-back" structure.

When in use, the patient first swallows the MEDS device. Doctors use an external magnet carried by a robotic arm to accurately guide the device to the ulcer perforation site through magnetic force and medical imaging. Subsequently, doctors irradiate a near-infrared light source at a designated skin area outside the patient's body; the light energy penetrates the tissue to melt the PLA plug, releasing the spring force to extrude the cell-containing gel from the nozzle in a targeted manner. This gel not only effectively blocks the perforation but also promotes healing during subsequent cell proliferation—fibroblasts act as "bioreactors," releasing growth factors and attracting new cells to repair the damage.

7. Recycling PA66: Toray Signs Agreement!

On October 20, Toray announced the signing of a Memorandum of Understanding (MoU) with Refinverse, aiming to deepen their cooperation in recycling nylon 66 resin from airbag waste.

According to the division of labor between the two parties, Refinverse is responsible for airbag recycling, silicone stripping, cleaning, and regranulation, while Toray is in charge of composite material formula design and mass production. In the future, the two parties will accelerate the development of nylon 66 resin recycling and utilization.

The two companies are optimizing the stripping, cleaning, and regranulation processes to minimize residual contaminants in the nylon 66 resin. They are developing a recycled resin with higher purity than traditional products and will build a supply chain to reuse airbags collected from end-of-life vehicles in Japan in the automotive sector.

8. German Auto Parts Supplier Webasto Reaches Restructuring Agreement with Banks

German auto parts supplier Webasto has obtained unanimous consent from all stakeholders for a restructuring agreement. Under the agreement, its shareholders will transfer a large number of their shares to a trustee.

In a statement released on October 22, Webasto said that lenders have agreed to provide an additional €200 million in loans and extend the existing €1.2 billion credit line until the end of 2028. The company further explained that the founding family shareholders of Webasto will continue to hold the economic ownership of the enterprise, while the trustee will become the legal owner of the company's shares, with a clear boundary between their respective rights.

Overseas Macro Market

China and US to Hold Economic and Trade Consultations in Malaysia from October 24 to 27

As agreed by China and the US, He Lifeng, Member of the Political Bureau of the Communist Party of China Central Committee and Vice Premier of the State Council, will lead a delegation to Malaysia to hold economic and trade consultations with the US side from October 24 to 27. The two sides will conduct consultations on important issues in China-US economic and trade relations in accordance with the important consensus reached by the heads of state of the two countries in their various calls since this year.

Japan's Largest Trade Union Organization: Will Seek a Salary Increase of 5% or More in 2026

Japan's largest trade union federation will continue to strive for a salary increase of at least 5% in next year's wage negotiations, as the new Prime Minister works to maintain the country's wage growth momentum. According to the target in the basic policy framework released on Thursday, in the negotiations to start later this year, the federation will seek an overall salary increase of 5% or more, including a 3% increase in the basic salary.

Bank of Korea Keeps Benchmark Interest Rate Unchanged at 2.50%, in Line with Expectations

The Bank of Korea maintained its benchmark interest rate unchanged at 2.50%, in line with market expectations.

Trump Announces: Cancels Meeting with Putin in Budapest

On October 22 (local time), US President Trump stated that he believed a meeting with Russian President Putin in Budapest would be "inappropriate" and thus canceled the meeting. Trump said he believed it was time to impose sanctions on Russia and hoped the sanctions would not last long.

US Treasury Department Quickly Releases Statement on Sanctioning Russian Oil Companies

The US Treasury Department released a statement on sanctioning Russian oil, including Rosneft (Rosneft Oil Company) and Lukoil (Lukoil) in the latest round of sanction targets. The US side stated that it is prepared to take further actions against Russia if necessary. WTI crude oil futures maintained a gain of more than 4%, trading at USD 59.60. Just minutes before the release of the US Treasury Department's statement, the US President Trump "denied" media reports that emerged before the US stock market closed about allowing Ukraine to use long-range missiles against Russia.

US Media Claims US Allows Ukraine to Use Long-Range Missiles Against Russia; Trump: Fake News!

On October 22 (local time), US President Trump posted on social media that the Wall Street Journal's report on "the US approving Ukraine to use long-range missiles provided by Western countries to strike targets deep inside Russia" was fake news. Trump claimed that regardless of where these missiles come from and how Ukraine uses them, the US has nothing to do with them.

The Wall Street Journal reported on October 22 (local time) that US officials stated on the same day that the Trump administration had lifted a key restriction, allowing Ukraine to use some long-range missiles provided by Western allies, which would enhance Ukraine's ability to strike targets in Russia.

Price Information

USD/CNY Central Parity Rate

Today's central parity rate of USD/CNY is 1 USD = 7.0918 CNY, an increase of 36 pips compared with the previous trading day.

Upstream Raw Materials USD Market Prices

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

Propylene Northeast Asia: FOB Korea average price remains stable at USD 740/ton; CFR China average price remains stable at USD 760/ton.

North Asia frozen cargo CIF price: propane USD 462-463/ton; butane USD 498-499/ton.

South China frozen cargo CIF price for early November: propane USD 526-536/ton; butane USD 526-536/ton.

Taiwan region frozen cargo CIF price: propane USD 462-463/ton; butane USD 498-499/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: USD 830-860/ton (CFR Huangpu);

Pipe: USD 1,010/ton (CFR Huangpu).

LDPE USD Market Prices

Film: USD 1,030-1,060/ton (CFR Huangpu);

Coating: USD 1,280/ton (CFR Huangpu).

PP USD Market Prices

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

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

Transparent: USD 1,005-1,125/ton (CFR Huangpu);

Pipe: USD 1,100/ton (CFR Shanghai).