Mitsui Chemicals TDI Plant Suffers Chlorine Gas Leak! India and UK Sign Free Trade Agreement; U.S. and EU Reach New Agreement

International News Guide :

Raw Material News - Breaking! Mitsui Chemicals TDI Plant Suffers Chlorine Gas Leak!

Automotive News - Tesla Plans to Launch Human-Driven Ride-Hailing Service in San Francisco Bay Area

Packaging News -INTEPLAST:US Film Maker Acquires German Competitor Perga

Medical News – Colorcon Opens New Film-Coating Manufacturing Plant in Malaysia

Recycling News -Vanden Launches Catalogue for Recycled PET Resins & Flake

Macro  News -U.S. and EU Reach New Trade Agreement

Price information - The central parity rate of RMB against USD is quoted at 7.1467, down 48 points.

The following are details of international news: 

1. 99% of Indian Exports to UK to Achieve Zero Tariffs!

Recently, India and the UK signed a free trade agreement. This is not only India’s first major bilateral trade agreement with a developed economy in over a decade but also one of the largest agreements since the UK’s “Brexit”. The UK government stated in a declaration that the agreement will reduce India’s average tariff rate on UK goods from 15% to 3%. Under the agreement, 99% of Indian exports to the UK will achieve zero tariffs; 90% of UK exports to India will see tariff reductions, and 85% of goods will achieve zero tariffs within 10 years.

2. Breaking! Mitsui Chemicals TDI Plant Suffers Chlorine Gas Leak!

Around 6:10 p.m. on July 27, 2025, passersby near Hashiguchi-cho, Omuta City, Fukuoka Prefecture, Japan, called 110 after smelling a sulfur-like odor. An investigation revealed the odor originated from a chlorine-based gas leak at Mitsui Chemicals’ Omuta Plant (which operates a 50,000-tonne/year TDI facility) located approximately 1 km east of the reporting location. Previously, the Omuta Plant operated a 120,000-tonne/year TDI facility, but just before the accident, it had undergone maintenance and reduced capacity to 50,000-tonne/year.

3. INTEPLAST:US Film Maker Acquires German Competitor Perga

Photo: Perga

4. H&S Partners with Ikano Industry to Launch Second Polyurethane Foam Recycling Plant in Mexico

H&S Anlagentechnik recently successfully commissioned a new polyurethane (PU) recycling plant in Ramos Arizpe, Mexico, marking a significant milestone in sustainable polyurethane processing in Latin America. Operated by Ikano Industry’s Mexican subsidiary, the plant is the second collaborative project under their long-term partnership.

5. Vanden Launches Catalogue for Recycled PET Resins & Flake

6. Colorcon opens new film-coating manufacturing plant in Malaysia

7. Tesla Plans to Launch Human-Driven Ride-Hailing Service in San Francisco Bay Area

California regulators revealed that U.S. electric vehicle manufacturer Tesla plans to launch a ride-hailing service operated by human drivers for specific groups in the San Francisco Bay Area, rather than the previously reported autonomous taxi (robotaxi) service.

Model Y; Image source: Tesla

Overseas Macro Updates：

U.S. and EU Reach New Trade Agreement​

On July 27, US President Donald Trump and European Commission President Ursula von der Leyen jointly announced a new trade agreement between the US and the EU at the Turnberry Golf Course in South Ayrshire, Scotland. Following an informal meeting with von der Leyen, Trump revealed key details of the deal, including:

• The US will impose a ​​15% tariff​​ on EU exports to America.
• The EU will increase investments in the US by ​​$600 billion​​.
• The EU will purchase ​​$750 billion worth of US energy products​​.

The agreement marks a significant step in reshaping transatlantic trade relations.

South Korea Proposes “MASGA” Shipbuilding Project to the U.S.

According to Yonhap News Agency, South Korea has proposed a multi-trillion-won “MASGA” shipbuilding cooperation project to the U.S.

Canalys: Mainland China Smartphone Market Down 4% YoY in Q2

According to the latest research from Canalys, the mainland China smartphone market fell 4% year-on-year in Q2 2025, as the growth momentum from early-year national subsidy policies began to fade. Huawei reclaimed the top spot with 12.2 million shipments, accounting for 18% of the market share; vivo followed closely with 11.8 million shipments, capturing 17%; OPPO (including OnePlus) ranked third with 10.7 million units, accounting for 16%. Xiaomi achieved year-on-year growth for the eighth consecutive quarter, ranking fourth with 10.4 million shipments; Apple ranked fifth with 10.1 million units.

Von der Leyen: EU to Fully Replace Russian Energy with U.S. Energy to Reduce U.S. Tariffs

To reduce U.S. tariffs from 30% to 15%, the European Commission committed to the U.S. that it will fully replace Russian oil and gas with U.S. liquefied natural gas, petroleum products, oil, and nuclear fuel. European Commission President Ursula von der Leyen made the statement on July 27 after talks with U.S. President Trump in Scotland.

She said: “The agreement includes the EU purchasing significant amounts of U.S. liquefied natural gas and nuclear fuel, and completely abandoning Russian natural gas and oil.” Von der Leyen argued that EU countries “still buy too much Russian natural gas” and that Russian petroleum products “still flow into the EU through backdoors.” She claimed that the EU “no longer seems to need Russian resources” and stated that U.S. liquefied natural gas is “far better.”

In response to reporters’ questions, she confirmed a commitment to purchase $75 billion worth of U.S. liquefied natural gas from Trump, but emphasized that the purchase will “be completed within three years, until the end of his term,” meaning approximately $25 billion per year. She also confirmed that the EU has committed to “large-scale investment in U.S. data center construction” but did not mention the content of the agreement Trump referred to as “the EU will massively purchase U.S. weapons.”

Japan Expects Only 1-2% of $550 Billion U.S. Investment Commitment to Be Actual Investment

Japan’s top trade negotiator Ryosei Akazawa told NHK on Saturday evening that the $550 billion investment framework will consist of investments, loans, and loan guarantees provided by Japanese government-backed financial institutions. He stated that the investment portion will account for 1% or 2%, and the U.S. and Japan will share investment profits in a 90:10 ratio. He added that Japan initially proposed a 50:50 profit-sharing ratio. Meanwhile, he said that through the trade agreement with the U.S. to reduce tariffs, Japan will save approximately 10 trillion yen.

Argentine Government Announces Reduction in Export Withholding Tax on Some Agricultural Products

Argentine President Javier Milei announced on the 26th that to boost the agricultural economy and incentivize production growth, Argentina will permanently reduce export withholding tax on agricultural products such as beef and soybeans. Speaking at the opening ceremony of Argentina’s 137th International Livestock, Agriculture, and Industry Exhibition on the 26th, Milei announced the permanent reduction of export withholding tax on beef, poultry, corn, sorghum, sunflower seeds, soybeans, and their by-products.

Price Information:

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 $505-507/tonne; butane $485-487/tonne.

South China frozen cargo for second half of August CIF price: propane $535-545/tonne; butane $520-530/tonne.

Taiwan region frozen cargo CIF price: propane $505-507/tonne; butane $485-487/tonne.

Film: $860-920/tonne (CFR Huangpu), down $5/tonne;

Injection molding: $950/tonne (CFR Dongguan).

Film: $920/tonne (CFR Huangpu);

Hollow: $855-865/tonne (CFR Huangpu);

Pipe: $1,035/tonne (CFR Huangpu).

Film: $1,075-1,090/tonne (CFR Huangpu);

Coating: $1,350/tonne (CFR Huangpu).

Homopolymer: $915-965/tonne (CFR Huangpu), up $5/tonne;

Copolymer: $940-950/tonne (CFR Nansha);

Film material: $1,030/tonne (CFR Nansha);

Transparent: $1,000-1,065/tonne (CFR Huangpu);

Pipe material: $1,160/tonne (CFR Shanghai).