【Overseas News】Dow Chemical Awarded ¥8.5 Billion! Ineos Produces Olefins from Waste Plastics! JERA to Increase Procurement of US LNG

International News Highlights:

Raw Materials News：Canadian Court Orders NOVA Chemicals to Pay Dow an Additional CAD$1.6 Bilion in Ethylene Dispute
Automotive News：Mitsui Chemicals achieves automation of tank allocation planning through digital transformation

Electronics News：Ineos starts cracking recycled plastics feedstock at Lavéra, France

Packaging News： BioTech adopts LIMEX Pellet for sustainable detergent packaging in Vietnam

Macro News： US officials informed that Israel is fully prepared for military action against Iran

Price Information: Propylene Northeast Asia: FOB South Korea average price at US$710/ton, up US$10/ton

Details of International News:

Canadian Court Orders NOVA Chemicals to Pay Dow an Additional CAD$1.6 Bilion in Ethylene Dispute
The long-standing legal battle between chemical giants Dow and NOVA Chemicals Corporation has taken another significant turn, with the Court of King's Bench of Alberta, Canada, issuing a judgment on June 10, 2025, ordering NOVA Chemicals to pay Dow an additional CADS1.620 bilion (approximately $1.2 bilion) in damages. This substantial sum relates to losses Dow incurred from the companies jointly owned ethylene asset located in Joffre, Alberta. Canada.

Japanese power giant JERA to increase procurement of US LNG
On June 12, JERA, a Japanese power giant, announced it has signed 20-year agreements to annually procure up to 5.5 million tons of liquefied natural gas (LNG) from four US companies, located in Texas and Louisiana. The company stated this move aims to diversify LNG procurement channels, increasing the proportion of US purchases from approximately 10% to around 30%.

Ineos starts cracking recycled plastics feedstock at Lavéra, France

Ineos said it has received its first initial batch of pyrolysis oil (pyoil) produced from recycled post-consumer waste plastics for processing into olefins at its steam cracker in Lavéra, France. The specific volume of pyoil received was not given.

The company’s Olefins & Polymers Europe business took delivery of the pyoil at Lavéra and will use it to produce virgin-quality polymers, it said in an announcement on June 11.

COIM × Ariete creates cycling protective eyewear with 70% biobased TPU material
Ariete, a brand under Sandro Mentasti and a leader in ski goggles, motorsport, and cycling equipment, has announced a strategic partnership with COIM, a multinational company specializing in specialty chemicals (mainly producing polyesters, polyols, polyurethanes, and resins for composites and coatings). Together, they have developed a revolutionary product: the Ariete 8K protective eyewear. This new eyewear represents months of joint R&D by Ariete and COIM teams, dedicated to significantly reducing carbon dioxide emissions. The Ariete 8K combines cutting-edge design, superior technical performance, and a firm commitment to environmental sustainability. Additionally, it has passed certification tests for Class II personal protective equipment in accordance with EU Regulation 2016/425 and UNI EN 1938:2010 safety standards, ensuring the highest level of safety for users.

Speciality chemicals group launches PFAS-free processing aids ahead of K 2025
Ahead of the K 2025 trade fair in Düsseldorf, Germany, Clariant has introduced its AddWorks PPA range – a set of polymer processing aids (PPAs) developed specifically for polyolefin extrusion. The company said that the launch addresses growing regulatory and market pressure to eliminate PFAS substances from plastic additives, particularly in food packaging applications.

BioTech adopts LIMEX Pellet for sustainable detergent packaging in Vietnam

TBM announced that BioTech has adopted LIMEX Pellet for its detergent packaging. LIMEX Pellet is an eco-conscious material mainly made from inorganic substances like calcium carbonate.  BioTech is known for producing detergents with natural ingredients, prioritizing safety and environmental care. Their flagship products, “Bio Clean” and “Bio Baby,” are free from harmful chemicals. They are trusted by multiple generations for skin safety.  

Birch Biosciences Enters into Global Patent License Agreement with NREL to Advance Enzymatic Plastic Recycling Process

Birch Biosciences, a startup focused on AI-powered enzymatic plastic recycling, today announced a global patent license agreement with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to commercialize a novel enzymatic deconstruction processing technology that breaks down polyethylene terephthalate (PET)—a common plastic used in packaging and textiles—to recover valuable chemical building blocks.

Mitsui Chemicals achieves automation of tank allocation planning through digital transformation
On June 12, it was reported that Mitsui Chemicals has developed an automated tool for liquid product tank allocation planning at its Osaka, Japan plant, which was put into use in March 2025. The tool standardizes the previously skill-dependent tank allocation planning work, reducing man-hours by 80%, while enabling faster response to environmental changes and improving planning accuracy. The liquid products produced at the plant need to be stored in multiple tanks. When storing products, considerations and adjustments must be made for tank selection, quality test analysis and inspection time, and delivery time based on orders. This work, known as "tank allocation," requires considering complex factors such as the filling rate and inspection status of each tank, making experienced personnel indispensable.

Overseas Macro Market Information:

US officials informed that Israel is fully prepared for military action against Iran
Multiple sources told CBS that US officials have been informed that Israel is fully prepared for military action against Iran. The report said the US expects Iran may retaliate against certain US military bases in Iraq, which is part of the reason the US earlier advised some Americans to leave the region. The US State Department has ordered non-emergency personnel at embassies and consulates to evacuate Iraq, citing "escalating regional tensions."

Iranian President: Iran will not reach a nuclear deal at any cost
On local time June 11, Iranian President Pezeshkian said Iran will not reach a nuclear deal at any cost. Pezeshkian reiterated that Iran will not build nuclear bombs but will not allow anyone to pressure Iran.

To stabilize rice prices, Japanese government releases reserve rice again
On local time June 11, the Japanese government launched a new batch of reserve rice releases, with nearly 100 retailers applying to sell rice. The 120,000 tons of reserve rice released on the 11th were all produced in 2021. If all this rice is purchased by retailers, the Japanese government will release 100,000 tons of rice produced in 2020.

Foreign investors buy record amount of South Korean bonds in May
According to a statement from the Financial Supervisory Service of South Korea, overseas investors net bought 11.34 trillion won (US$8.3 billion) of listed bonds last month, the largest monthly inflow on record, continuing the strong momentum from April. The balance of listed bonds held by foreign investors increased to 300.5 trillion won over the same period. As of June 10, overseas investors have net bought South Korean bonds for 31 consecutive trading days, the longest streak since 2023.

UK's goods exports to US drop by record high in April
Office for National Statistics (ONS): The drop in UK goods exports to the US in April was the largest on record. The decline in exports to the US "may" be related to Trump's tariffs.

UK economy shrinks in April, sounding alarm for Starmer
The UK economy shrank for the first time in six months, sounding an alarm in the ear of Prime Minister Starmer, who is counting on economic growth to fund the government's ambitious spending plans. The Office for National Statistics announced on Thursday that after two months of healthy growth, GDP fell by 0.3% in April, worse than economists' forecast of a 0.1% decline. Services and manufacturing contracted, while construction grew. The data sets a weak tone for economic performance in the second quarter, as businesses and consumers face rising unemployment, heavier tax burdens, and Donald Trump's tariffs.

Price Information:

USD/CNY central parity rate
The central parity rate of USD/CNY was set at 7.1803, up 12 pips; the previous trading day's central parity rate was 7.1815, the previous trading day's official closing price was 7.1858, and the overnight session closed at 7.1890.

Upstream raw material US dollar market prices

Ethylene Asia: CFR Northeast Asia US$790/ton, up US$10/ton; CFR Southeast Asia US$850/ton.

Propylene Northeast Asia: FOB South Korea average price US$710/ton, up US$10/ton; CFR China average price US$750/ton.

North Asia frozen cargo CIF price: propane US$540-542/ton; butane US$510-512/ton.

South China frozen cargo July arrival price: propane US$598-608/ton; butane US$538-548/ton.

Taiwan frozen cargo CIF price: propane US$540-542/ton; butane US$510-512/ton.

LLDPE US dollar market prices

Film: US$895/ton (CFR Huangpu);

Injection molding: US$970/ton (CFR Dongguan).

HDPE US dollar market prices

Film: US$900-920/ton (CFR Huangpu); Hollow: US$865-870/ton (CFR Huangpu).

LDPE US dollar market prices

Film: US$1025-1035/ton (CFR Huangpu).

PP US dollar market prices

Homopolymer: US$885-935/ton (CFR Huangpu), down US$5/ton;

Copolymer: US$955-1040/ton (CFR Huangpu), down US$20/ton;

Film stock: US$1025-1090/ton (CFR Huangpu);

Transparent: US$1085/ton (CFR Huangpu);

Pipe material: US$1160/ton (CFR Shanghai).

Editor: Carrie