Borouge and Honeywell join forces! Safic-Alcan to distribute Evonik's functional silanes in Central Eastern Europe

International News Digest
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​​Materials News​​ – Avery Dennison unveils RFID label compatible with PET recycling stream

​​Trade News​​ – Safic-Alcan to distribute Evonik's functional silanes in Central Eastern Europe
​​Policy News​​ – India imposes five-year anti-dumping duties on six Chinese imports to protect domestic industry
​​Equipment News​​ – Coveris Installs 5-Layer Cast Film Line with AI Control in UK
​​Macro News​​ – Report shows global energy sector CO₂ emissions hit record high in 2023
​​Market Data​​ – CNY/USD central parity rate at 7.1620, up 48 pips

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Details of International News:​​

1.Borouge and Honeywell join forces to demonstrate AI powered autonomous operations

Borouge  Plc is collaborating with  Honeywell  International Inc. (Charlotte, N.C.) to conduct a proof of concept for  AI powered autonomous operations, which has the potential to revolutionize Borouge’s UAE plant operations.

The collaboration between Borouge and Honeywell is set to deliver the petrochemical industry’s first AI-driven control room designed for full-scale, real-time operation, establishing a new standard for the future of AI in petrochemicals.

2.Coveris Installs 5-Layer Cast Film Line with AI Control in UK

Packaging manufacturer Coveris has installed a five-layer cast stretch film extrusion line of the type ALLrollEX 1500 mm from Colines at its Winsford extrusion hub in the UK. The system includes the Mastermind virtual assistant for process automation and was commissioned with full system integration, including downstream palletising.

3.Avery Dennison unveils RFID label compatible with PET recycling stream Materials science company Avery Dennison has developed a radio frequency identification (RFID) label that has received Association of Plastic Recyclers (APR) Design for Recyclability recognition validating its compatibility with North America’s polyethylene terephthalate (PET) recycling stream.Avery Dennison claims its new label is an industry first, combining the company’s CleanFlake adhesive technology and its expertise in RFID to develop the new product that can cleanly separate from the PET in the mechanical recycling stream and reduce contamination.

4.CAI Performance Additives launches flame-retardant synergist for PVC wires & cables

CAI Performance Additives announced the launch of ST-FR6, a flame-retardant synergist for PVC wire and cable applications.ST-FR6 offers a cost-effective, stable alternative to Antimony Trioxide (ATO), addressing supply chain challenges while maintaining top-tier flame retardant performance and environmental safety.

​​5.India lmposes Five-YearAnti-Dumping Duties onSix Chinese lmports to Safeguard Domestic Industry
India has imposed five-year anti-dumping duties on six key Chinese imports-PEDA, Acetonitrile, Vitamin-A Palmitate Insoluble Sulphur, Decor Paper, and Potassium Tertiary Butoxide- following investigations by the Directorate General of Trade Remedies (DGTR). The move aims to protect domestic industries from unfair trade practices and address the growing trade imbalance with China. The duties, aligned with WTO norms, are intended to promote fair competition and support local manufacturing.

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6.Safic-Alcan to distribute Evonik's functional silanes in Central Eastern Europe

Safic-Alcan announces a strategic distribution agreement reached with Evonik Smart Effects division. Effective July 1st, 2025, Safic-Alcan will additionally distribute EVONIK functional silanes in Central Eastern Europe.The new agreement will also include Albania, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Moldavia, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia and Slovenia.

​​Global Macro Market Updates:​​

​​[South Korea] President Calls for Capital Market Normalization to Achieve KOSPI 5000 Era​​
South Korean President Yoon Suk-yeol urged the National Assembly on June 26 to expedite supplementary budget deliberations. Emphasizing economic revitalization, he warned that prolonged low growth could trap the economy in a "vicious cycle of intensifying competition and conflict." Yoon asserted that transparent capital markets would spur recovery, enabling the KOSPI to surpass 5,000 points.

​​[Energy] Report Shows Global CO₂ Emissions from Energy Hit Record High in 2023​​
The Energy Institute’s annual Statistical Review of World Energy revealed that energy-related CO₂ emissions grew for the fourth consecutive year in 2023, coinciding with global temperatures exceeding pre-industrial levels by 1.5°C for the first time. Despite record renewable energy adoption, fossil fuel consumption continued rising.

​​[UK] Business Group Warns Tax Hikes Force SMEs to Cut Jobs​​
The British Chambers of Commerce reported nearly one-third of UK SMEs have either laid off workers or are considering job cuts due to increased National Insurance contributions ordered by Chancellor Rachel Reeves in April. Director General Shevaun Haviland stated business confidence has plunged to 2022 lows, forcing many to reconsider expansion plans.

​​[M&A] Shell Denies BP Acquisition Talks After WSJ Report​​
On June 25, according to the Wall Street Journal, people familiar with the matter said that negotiations between representatives of the two companies were actively ongoing and that BP was carefully considering the proposal. BP currently has a market value of about $ 80 billion. Considering the acquisition premium, the transaction may become the largest oil industry transaction since ExxonMobil 's $ 83 billion merger at the beginning of this century. However, people familiar with the situation warned that the potential terms of the deal have not yet been determined, and the merger is far from a foregone conclusion. Shell denied the relevant negotiations after the report, saying that ' the report is further market speculation, no negotiations '.

Price Information

【USD/CNY Central Parity Rate】

The central parity rate of RMB against USD was set at 7.1620, up 48 pips. The previous trading day's central parity rate was 7.1668, official closing price was 7.1713, and overnight closing price was 7.1750.

【Raw Materials - USD Market Prices】

• Ethylene (Asia):
• CFR Northeast Asia: $850/ton, up $5/ton
• CFR Southeast Asia: $860/ton
• Propylene (Northeast Asia):
• FOB Korea average: $750/ton
• CFR China average: $800/ton
• North Asia LPG (CIF):
• Propane: $548-550/ton
• Butane: $518.5-520.5/ton
• South China LPG (July arrival, CIF):
• Propane: $588-598/ton
• Butane: $538-548/ton
• Taiwan LPG (CIF):
• Propane: $548-550.5/ton
• Butane: $518.5-520.5/ton

【LLDPE - USD Market Prices (CFR)】

• Film grade: $920/ton (Huangpu)
• Injection grade: $950/ton (Dongguan)

【HDPE - USD Market Prices (CFR)】

• Film grade: $910-920/ton (Huangpu)
• Hollow grade: $860-870/ton (Huangpu)

【LDPE - USD Market Prices (CFR)】

• Film grade: $1,105-1,130/ton (Yantian)
• Coating grade: $1,330/ton (Huangpu)

【PP - USD Market Prices (CFR)】

• Homopolymer: $890-975/ton (Huangpu)
• Copolymer: $965-995/ton (Huangpu)
• Transparent grade: $1,085/ton (Huangpu)
• Pipe grade: $1,160/ton (Shanghai)