China-U.S. Summit in Busan Tomorrow! Syensqo Launches New PAEK Material; Ascend Debuts at Medical Summit

International News Guide

Additive News - Merger and Acquisition in Colorant Sector Finalized: Chroma Acquires Ferco

Building Materials News - Syensqo Launches AvaSpire PAEK Material to Innovate Pipeline System Applications

Packaging News - Targeting Frozen Packaging Pain Points! ExxonMobil and W&H Develop Commercial-Grade MDO PE Freezer Bags

Automotive News - Toray Signs Agreement with Hyundai Motor, Focusing on Carbon Fiber Technology for Future Mobility

Exhibition News - Ascend Showcases Innovative Medical Applications at U.S. Medical Device Summit

Macroeconomic News - Xi Jinping Will Hold Talks with U.S. President Trump

Price Information - CNY/USD Central Parity Rate Stands at 7.0843, Up 13 Pips

Details of International News

1. Syensqo Launches AvaSpire PAEK Material to Innovate Pipeline System Applications

Syensqo has developed a new series of AvaSpire polyaryletherketone (PAEK) composite materials, specifically designed for corrugated hoses in piping and plumbing systems.

This high-performance material functions effectively both with and without an external reinforcement layer for hoses, solving key production and safety challenges in the residential piping sector. The polymer has achieved its first major commercial breakthrough through Uniwell Rohrsysteme—currently, the company is using AvaSpire PAEK to produce connecting hoses for Grohe’s bathroom and kitchen faucet systems.

Syensqo stated that this application marks a significant shift in the industry from traditional brass components to advanced polymer solutions.

2. Targeting Frozen Packaging Pain Points! ExxonMobil and W&H Develop Commercial-Grade MDO PE Freezer Bags

ExxonMobil recently announced the results of its cooperation with film extrusion and processing company Windmöller & Hölscher (W&H).

The two parties have jointly developed a commercially viable non-laminated, mono-material machine-direction oriented (MDO) polyethylene (PE) freezer bag. ExxonMobil noted that this innovation addresses a key challenge—simultaneously meeting customers’ core needs for recyclability, performance, and lightweight design.

3. Sika Decides to Cut Up to 1,500 Jobs Globally! Structural Adjustments for Persistently Weak Markets Including China

Building chemicals manufacturer Sika announced in its latest financial results report that it is conducting structural adjustments in persistently weak markets including China, including cutting up to 1,500 jobs—accounting for approximately 4.3% of its global workforce.

Sika stated that these adjustments are a key part of its investment and efficiency plan “Fast Forward,” which is expected to result in one-time costs of CHF 80 million to 100 million in 2025. The plan also includes CHF 120 million to 150 million in investments and will achieve total annual cost savings of CHF 150 million to 200 million, with full effects expected by 2028.

Sika reported that its sales in the first nine months of 2025 fell 3.8% year-on-year to CHF 8.58 billion, mainly due to a 3.9% decline in sales in the Asia-Pacific region (in local currencies) caused by the deflationary market environment in China’s construction industry.

4. Merger and Acquisition in Colorant Sector Finalized: Chroma Acquires Ferco

To expand its manufacturing footprint on the U.S. West Coast and enrich its product portfolio, Chroma Color Corp. recently acquired Ferco Color Inc.

Headquartered in Chino, California, Ferco Color Inc. is a producer of custom colorants, additives, and specialty compounds. The financial terms of the transaction have not been disclosed.

5. Hong Kong Sun Dong Li Partners with Sweden’s Syre to Tackle T2T Chemical Textile Recycling Technology

Recently, in Stockholm, Sweden, Zhang Zhen of Hong Kong Sun Dong Li Group and Dennis Nobelius, CEO of Sweden’s Syre, signed a strategic cooperation framework agreement.

The two parties will explore specific models for in-depth cooperation in green textile recycling and sustainable material innovation. Focusing on the global application, industrialization, and market implementation of Textile-to-Textile (T2T) chemical recycling technology, they will jointly promote the development of green manufacturing and a low-carbon economy.

6. Toray Signs Agreement with Hyundai Motor, Focusing on Carbon Fiber Technology for Future Mobility

Japan’s Toray Industries announced on its official website that it has signed an agreement with Hyundai Motor Group to jointly develop advanced materials and components for future mobility, explore technological innovation, and establish industry standards.

Under the agreement, the two parties will conduct full-value chain cooperation in high-performance composite materials, covering R&D, production, and commercialization. They will jointly develop high-end materials for future mobility, including high-performance vehicles and special-purpose transportation tools such as lunar rovers and robots.

7. Ascend Showcases Innovative Medical Applications at U.S. Medical Device Summit

The 2025 American Medical Device Summit was held in Chicago this week. The Ascend team showcased its HiDURA® MED high-performance medical-grade material solutions tailored for healthcare applications, discussing the latest trends in material technology and sustainability with industry insiders.

Ascend’s medical-grade material solutions can be widely used in healthcare scenarios such as antibacterial materials, medical durable goods, surgical instruments, and wound care:

• Polyamide materials with good ductility are suitable for fixation and support devices such as splints, replacing flexible metal materials.
• High-strength non-woven fabrics are durable, skin-friendly, and soft, with excellent moisture absorption, sweat-wicking, antibacterial, and deodorant properties, making them an ideal choice for patient repositioning devices.
• Long-chain polyamides developed specifically for monofilament and tubing applications are suitable for medical consumables such as catheters, infusion tubes, and sutures.

Overseas Macroeconomic Market

【Trump Expresses Optimism About China-U.S. Summit; Foreign Ministry: Ready to Work with U.S. for Positive Outcomes】

On October 29, Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. The heads of state of China and the U.S. will hold talks in South Korea tomorrow.

U.S. President Trump stated that he is optimistic about the summit and believes many issues will be resolved. Guo Jiakun emphasized that head-of-state diplomacy plays an irreplaceable strategic leading role in China-U.S. relations. During the meeting, the two heads of state will have in-depth communication on strategic and long-term issues concerning China-U.S. relations, as well as major issues of common concern. We are ready to work with the U.S. side to promote the summit to achieve positive outcomes, provide new guidance, and inject new impetus into the stable development of China-U.S. relations.

【Xi Jinping Will Hold Talks with U.S. President Trump】
Foreign Ministry Spokesperson announced on October 29: As agreed by China and the U.S., President Xi Jinping will hold talks with U.S. President Trump in Busan, South Korea, on October 30 (local time) to exchange views on China-U.S. relations and issues of common concern.

【U.S. Treasury Secretary Yellen: Japan’s Willingness to Grant BOJ

Policy Space Is Critical】U.S. Treasury Secretary Janet Yellen stated on social media platform X: I look forward to cooperating with Japanese Finance Minister Satsuki Katayama. I am encouraged by her deep understanding of how Abenomics has evolved from a purely reflationary policy to a plan that must balance Japanese citizens’ concerns about growth and inflation. The government’s willingness to grant policy space to the Bank of Japan (BOJ) will be key to anchoring inflation expectations and avoiding excessive exchange rate volatility.

【Vietnam Launches Anti-Circumvention Investigation on Chinese Hot-Rolled Coils】

On October 27, 2025, Vietnam’s Ministry of Industry and Trade issued Announcement No. 3176/QD-BCT, stating that in response to an application from Vietnamese producers, it has launched an anti-circumvention investigation into the anti-dumping case of hot-rolled coils originating from China. The investigation will examine whether the involved products are slightly modified into hot-rolled coils with a width exceeding 1,880 mm and not exceeding 2,300 mm for export to Vietnam to evade anti-dumping duties.

Goldman Sachs now predicts that the Bank of England will cut interest rates by 25 basis points in November this year, compared with its previous forecast of no rate cut.

Price Information

The central parity rate of CNY against USD was reported at 7.0843, an increase of 13 pips; the central parity rate of the previous trading day was 7.0856, the official closing price of the previous trading day was 7.1006, and the night session closing price of the previous day was 7.0989.

【Upstream Raw Material USD Market Prices】

Ethylene: CFR Northeast Asia USD 750/ton (down USD 15/ton); CFR Southeast Asia USD 755/ton (stable).

Propylene Northeast Asia: FOB South Korea average USD 730/ton (down USD 10/ton); CFR China average USD 745/ton (down USD 15/ton).

North Asia refrigerated cargo CIF price: Propane USD 483-485/ton; Butane USD 519-521/ton.

South China (China) refrigerated cargo CIF price for late November: Propane USD 534-544/ton; Butane USD 534-544/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 483-485/ton; Butane USD 519-521/ton.

【LLDPE USD Market Prices】

Film: USD 830-860/ton (CFR Huangpu);

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

【HDPE USD Market Prices】

Film: USD 860-900/ton (CFR Huangpu);

Injection Molding: USD 820/ton (CFR Huangpu);

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

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1030-1050/ton (CFR Huangpu);

Coating: USD 1280/ton (CFR Huangpu).

【PP USD Market Prices】

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

Copolymer: USD 840-870/ton (CFR Nansha);

Film Grade: USD 1015/ton (CFR Huangpu);

Transparent Grade: USD 1035-1125/ton (CFR Huangpu);

Pipes: USD 1100/ton (CFR Shanghai).