Israel-Iran Conflict Escalates! U.S. ITC Launches Investigation into Ink Cartridges and Components; Harman Introduces New Display Technology

International News Guide:

Raw Materials News - OQ to showcase 17 new PP and PP grades at K 2025

Automotive News - HARMAN Launches New Display Featuring Samsung Neo QLED Technology

Medical News - ThermoFab Rebrands to Better Reflect Breadth of Plastic Processing Services

Packaging News - Industrial Packaging Manufacturer MAUSER Commissions IBC Recycling Plant at BASF Site in Spain

Macro News - Israel Launches Airstrike on Iran's Capital; Iran's Supreme Leader Khamenei: Israel Will Face Severe Punishment

Price Information - Ethylene Asia: CFR Northeast Asia $790/ton; CFR Southeast Asia $850/ton

Details of International News:

1.OQ to showcase 17 new PP and PP grades at K 2025

OQ, Oman’s global energy group, has introduced 17 new application-focused polymer grades over the past year. This reinforces its commitment to delivering transformative material solutions tailored to address global megatrends such as food preservation, water security, and energy saving. These grades will be showcased for the first time in Europe at K 2025, one of the leading plastics and rubber trade fairs in Düsseldorf.

2.HARMAN Launches New Display Featuring Samsung Neo QLED Technology

Today, consumers expect vehicles to deliver premium visual experiences on par with high-end TVs and personal devices. However, the harsh requirements of automotive environments have made it difficult to achieve such display performance. According to foreign media, HARMAN, a leader in automotive technology and a subsidiary of Samsung Electronics Co., Ltd., has launched a new display product that brings true consumer-grade tech viewing experiences to vehicles. The display will be installed in the new Tata Harrier.ev model, marking the first in-vehicle integration of Samsung's proprietary Neo QLED technology, which has been exclusively licensed to HARMAN and optimized by HARMAN for automotive applications.

3.ThermoFab Rebrands to Better Reflect Breadth of Plastic Processing Services

ThermoFab offers its customers in the medical device space and within other regulated industries far more than thermoforming services, and it has now rebranded to reflect that reality. It’s new name is Innova Engineered Plastics, explicitly calling out its “innovation, expanded capabilities, and focused vision as the full-service enclosure provider of choice for startups to Fortune 500 companies,” said Innova.

4.Industrial Packaging Manufacturer MAUSER Commissions IBC Recycling Plant at BASF Site in Spain

Industrial packaging manufacturer commissions IBC recycling plant at BASF site in Spain

Industrial packaging manufacturer Mauser Packaging Solutions has commissioned a new plant for processing intermediate bulk containers (IBCs) in Tarragona, Spain. Located on the premises of BASF (Ludwigshafen, Germany; www.basf.com), the facility reconditions used IBCs and extracts recyclates from containers that are no longer fit for reuse. 

5.BASF Starts New World-Class Hexamethylenediamine Plant in France, Boosting Capacity to 260,000 Tons

Recently, BASF announced that its new world-class HMD  plant in Charleroi, France, has been successfully started up. The plant, which began construction in 2022, is of great significance for the successful start-up, boosting BASF's annual HMD production capacity to 260,000 tons.

6.American Axle to Supply Core Components for Volkswagen Group's Scout

American powertrain system supplier American Axle & Manufacturing Holdings Inc. announced that it has signed an important cooperation agreement with Scout Motors, a subsidiary of the Volkswagen Group, to supply front axle electric drive units and e-Beam rear axles for the upcoming new electric Traveler SUV and Terra pickup truck.

Image source: American Axle

It is reported that the two highly anticipated new Scout models will adopt a body-on-frame chassis architecture, standard with a pure electric powertrain system, and optional gasoline engines to enhance comprehensive range. Currently, Scout Motors has simultaneously opened the reservation channel for the two new Traveler and Terra models, and the first mass-produced models are expected to roll off the production line in 2027.

7. Borealis triples net income in 2024

Stefan Doboczky, Borealis CEO since July 2024, explains how the company's net income reached €566 million in 2024, with operating profit improved by €300 million

8. Farm plastic waste recycling options a 'leap forward for sustainability'
Recycling agricultural bags could divert up to 45,000 tonnes of single-use soft plastics from landfill each year. Many farmers either burn or bury plastic to avoid significant landfill costs.

Overseas Macro Market Information:

[Israel Launches Airstrike on Iran's Capital] Local time in the early morning of the 13th, the Israeli Air Force launched airstrikes on dozens of targets related to Iran's nuclear program and other military facilities within Iran, naming the operation "Strength of the Lion."

[Iran's Supreme Leader Khamenei: Israel Will Face Severe Punishment] Local time on the 13th, Iran's Supreme Leader Ayatollah Ali Khamenei said that Israel would face severe punishment. Khamenei also confirmed the killing of several Iranian military commanders and nuclear scientists.

[Japanese Trade Negotiator: Refuses to Reach Partial Agreement with the US] Japanese Trade Negotiator Akaike Ryohei said on Friday that Japan will insist on demanding a reassessment of US tariffs and will not accept a partial agreement. "Reaching a partial agreement is impossible. Our goal is to reach a comprehensive agreement that satisfies both Japan and the US," Akaike told reporters before departing for Washington. Akaike Ryohei is preparing for the sixth round of tariff negotiations with the US to conduct final negotiations before the meeting between Japanese Prime Minister Kishida Fumio and US President Trump on the sidelines of the G7 meeting in Canada.

[US ITC Officially Launches 337 Investigation into Ink Cartridges and Components] On June 12, the US International Trade Commission (ITC) voted to launch a 337 investigation into certain ink cartridges and components I and II. A number of Chinese enterprises, including Dongguan Ocbestjet Digital Technology Co., Ltd. in Guangdong, China, are listed as defendants. The US International Trade Commission will determine the end date of the investigation within 45 days of filing.

[Iran's Ministry of Energy: Hydropower Infrastructure and Oil Refining and Storage Facilities Undamaged] Local time on the 13th, Iran's Ministry of Energy and the National Iranian Oil Refining and Distribution Company said that Iran's hydropower infrastructure, oil refining facilities, and storage facilities had not been damaged. Hydropower services continued to operate normally, and the operation of oil facilities and fuel supply continued stably throughout the country without interruption.

Price Information:

[RMB to USD Central Parity Rate]

The central parity rate of RMB against the US dollar was reported at 7.1772, up 31 points; the previous trading day's central parity rate was 7.1803, the previous trading day's official closing price was 7.1824, and the overnight closing price was 7.1715.

[Raw Material US Dollar Market Prices]

Ethylene Asia: CFR Northeast Asia $790/ton; CFR Southeast Asia $850/ton.

Propylene Northeast Asia: FOB Korea average $710/ton; CFR China average $750/ton.

North Asia frozen cargo CIF price, propane $545-547/ton; butane $515-517/ton.

South China frozen cargo July arrival CIF price, propane $591-601/ton; butane $531-541/ton.

Taiwan region frozen cargo CIF price, propane $545-547/ton; butane $515-517/ton.

[LLDPE US Dollar Market Prices]

Film: $895/ton (CFR Huangpu);

Injection molding: $970/ton (CFR Dongguan);

[HDPE US Dollar Market Prices]

Film: $900-920/ton (CFR Huangpu);

Hollow: $865-870/ton (CFR Huangpu);

[LDPE US Dollar Market Prices]

Film: $1,025-1,035/ton (CFR Huangpu);

[PP US Dollar Market Prices]

Homopolymer: $885-935/ton (CFR Huangpu);

Copolymer: $955-1,040/ton (CFR Huangpu);

Film material: $1,025-1,090/ton (CFR Huangpu);

Transparent: $1,085/ton (CFR Huangpu);

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