【Overseas News】Major players unite to expand europe's bio-based pef scale! olin and mitsui plan to dissolve pvc joint venture

International News Summary:

India Initiates Anti-Dumping Investigation on Ethambutol Hydrochloride Involving China

CANNON assists ENGEL in launching the clearmelt polyurethane in-mold coating process, working together to revolutionize the surface coating mode of automotive exterior parts.

Packaging News: Some toothpaste caps of Sensodyne have been made using LyondellBasell's bio-based PP.

Medical News - New Metamaterials Can Change Size and Shape via Remote Control

Macroeconomic News-Australia's inflation in August rises to a one-year high, putting pressure on the central bank's prospects for a rate cut.

Price InformationThe central parity rate of RMB against USD is set at 7.1077, down by 20 points.

The following are the details of international news:

Avantium, LVMH, and Tereos establish a strategic alliance to expand the production scale of bio-based PEF (releaf®) in Europe.

Avantium, a leader in renewable and circular polymer materials, announced that it has signed a memorandum of understanding with Tereos, a global giant in the production of sugar, starch, alcohol, and bioethanol, and LVMH GAÏA, the science and environmental R&D department of the global luxury leader LVMH Moet Hennessy - Louis Vuitton. The three parties will establish a strategic partnership to accelerate the industrial-scale production of Avantium's 100% renewable circular high-performance polymer PEF (polyethylene furanoate, brand name releaf®). Releaf® is made from plant-based raw materials and can be widely used in food and beverage packaging, cosmetics packaging, fashion, and industrial fibers. This alliance brings together Avantium, the inventor of releaf®, with industry pioneers Tereos and LVMH, to expand the use of plant-based resources as raw materials.BiobasedContribute to moving away from fossil-based plastics by scaling up plastic production.

2. The Global Impact Coalition (GIC) collaborates with researchers from the Swiss Federal Institute of Technology Zurich on waste chemical conversion research and development.

The Global Impact Coalition (GIC), composed of CEOs from the global chemical industry, announced a collaboration with scientists from ETH Zurich and five member companies of the coalition.BASF、Clariant、Covestro、LyondellBasellSuez has launched a strategic research collaboration. This collaboration aims to explore the synergies between traditional chemical processes and emerging technologies to convert waste into circular chemicals, with a particular focus on the feasibility of directly converting waste into chemicals in a more sustainable manner.

$2 billion for polypropylene recycling expansion!

According to Chemical & Engineering News, PureCycle, a polypropylene recycling company, recently announced the launch of a $2 billion global expansion plan. The goal is to build multiple plants in Asia, Europe, and North America before 2030 to further enhance polypropylene recycling capacity and meet the global market's demand for plastic recycling. The company has previously achieved commercial production in Ohio, USA, and successfully secured $300 million in financing.

4. Aulin and Mitsui Chemicals plan to dissolve their trading joint venture.

Olin Corporation and Mitsui Chemicals plan to dissolve their trading joint venture, Blue Water Alliance. Olin Corporation stated that this move is part of its strategy to more actively participate in the polyvinyl chloride (PVC) value chain. However, both parties are open to collaborating on "strategic opportunities" in the future.

5. Invista Strategically Integrates North American DYTEK® A Amine Production Facility

Invista has announced the strategic decision to close its Maitland plant in Canada and relocate the production of DYTEK A amine to its plant in Victoria, Texas, USA. This move is part of Invista's ongoing commitment to improving operational efficiency and meeting the increasing demand for 2-methylpentanediamine. Invista will discuss relevant matters with customers in the Asia-Pacific region, while reiterating its strong commitment to meeting market demand for 2-methylpentanediamine through its DYTEK A amine product. Moreover, Invista will actively promote the localization of DYTEK A amine production at its plant in Shanghai, China, through a strategic partnership with Shanghai JieDa Chemical Co., Ltd. JieDa is rapidly building production capacity for DYTEK A amine using Invista's licensed technology, near Invista's base in the Shanghai Chemical Industry Park.

India initiates an anti-dumping investigation on ethambutol hydrochloride involving China.

According to the China Trade Remedy Information Network, on September 23, the Indian Ministry of Commerce and Industry issued an announcement stating that, at the request of the Indian company Lupin Limited, an anti-dumping investigation has been initiated on Ethambutol Hydrochloride originating from or imported from China and Thailand. The Indian Customs code for the product involved is 29051490. The dumping investigation period for this case is from April 1, 2024, to March 31, 2025 (12 months), and the injury investigation period covers the years 2021 to 2022, 2022 to 2023, 2023 to 2024, and from April 1, 2024, to March 31, 2025.

Some of Sensodyne's toothpaste caps are now made using LyondellBasell's bio-based PP.

Recently, some toothpaste caps of the Sensodyne brand under Haleon have been produced using CirculenRenew polymers (bio-based PP) from LyondellBasell (NYSE: LYB), a leading company in the global chemical industry.

8. Adidas collaborates with multiple parties to accelerate the industrialization of bio-based shoe materials.

Recently, Fashion for Good announced the launch of "The Next Stride: a 12-month project for bio-based materials for shoe soles, aimed at accelerating the transformation of the global footwear industry, which is valued at approximately $400 billion, by redefining the most impactful component in footwear — the sole.

The project brings together industry leaders, including adidas, Target, and Zalando, with breakthrough material innovation companies: Algenesis Labs, Balena, Evoco, KUORI, and Yulex, to jointly test and validate bio-based polymers as high-performance alternatives to replace the fossil-based materials currently dominating footwear production. By focusing on shoe soles, The Next Stride aims to accelerate the industry's transition to scalable, circular solutions.

New metamaterials can change size and shape via remote control.

A research team led by Rice University in the United States has developed a novel metamaterial that combines flexibility with high strength and can rapidly change its size and shape through remote control. This achievement is expected to endow medical devices within the body with new capabilities, marking a significant breakthrough in the field of implantable and ingestible medical devices. The related paper was published in the latest issue of "Science Advances."

10. CANNON assists ENGEL in launching the clearmelt polyurethane in-mold coating process, joining forces to revolutionize the surface coating model of automotive exterior parts.

Global leading polyurethane (PUR) processing equipment manufacturer CANNON, in collaboration with renowned injection molding machine manufacturer ENGEL, will jointly showcase their innovative surface coating process at the 2025 Germany K Show, taking place from October 8 to 15, 2025, in Düsseldorf, Germany. This process is set to revolutionize the painting and assembly mode of automotive exterior components. It integrates the thermoplastic part forming process with the polyurethane (PUR) coating process within a single mold in one step, eliminating post-processing steps such as painting and polishing. This significantly streamlines the coating process, greatly enhancing production efficiency while significantly reducing production costs.

Overseas macro market:

[JPMorgan: Foreign Investors in Japanese Stocks May Increase FX Hedging, Potentially Intensifying Yen Sell-off] JPMorgan stated that foreign investors might increase the foreign exchange hedging ratio of their purchases of Japanese stocks, leading to a yen sell-off. They noted that in past quarters, foreign investors have continuously bought large amounts of Japanese stocks, but the foreign exchange hedging ratio has remained at a relatively low level of around 10-20%. Considering the recent rise in Japanese stocks, if more traditional medium- and long-term investors return to hedged Japanese equity funds, this ratio may increase, which would be a neglected bearish catalyst for the yen. If the foreign exchange hedging ratio normalizes and rises by 1%, it could trigger approximately 3 trillion yen of dollar/yen buying, potentially pushing the dollar/yen up by 2.8.

[Australia Releases August CPI] Australia's seasonally adjusted CPI month-over-month for August is 0.1%, previous value was 0.9%. Australia's seasonally adjusted CPI year-over-year for August is 3%, previous value was 2.8%.

[Thailand Releases August Import and Export Data] Thai Ministry of Commerce: Export value after customs clearance in August increased by 5.8% year-on-year. Import value after customs clearance in August increased by 15.8% year-on-year.

[Australia's Inflation in August Rises to a One-Year High, Putting Pressure on Future Rate Cut Prospects] Inflationary pressures in Australia have resurfaced. Data from the Australian Bureau of Statistics shows that the annual CPI indicator rose by 3.0% as of August, surpassing market expectations of 2.9%, marking the highest level in the past year. There was already a noticeable increase in July. This result brings inflation back to the upper limit of the Reserve Bank of Australia's (RBA) target range of 2% to 3%, dampening market expectations for further rate cuts. Since February this year, the RBA has cut rates three times consecutively and had indicated that it would continue to ease if inflation remained controllable, but the latest data almost certainly determines the policy for next week. The admiral remains inactive.

Price Information:

The central parity rate of RMB to USD

The central parity rate of the RMB against the USD is set at 7.1077, down 20 points; the previous trading day's central parity rate was 7.1057, with the official closing price at 7.1133 and the previous night's closing price at 7.1119.

[Upstream Raw Material USD Market Price]

Ethylene Asia: CFR Northeast Asia at $845/ton; CFR Southeast Asia at $840/ton.

Northeast Asia Propylene: FOB Korea average price is 760 USD/ton; CFR China average price is 795 USD/ton.

The CFR price for Northeast Asia is $538-539 per ton for propane and $554-555 per ton for butane.

The October landed price of South China refrigerated cargo: propane is 580-590 USD/ton; butane is 560-570 USD/ton.

The import price of frozen goods in Taiwan is $538-539 per ton for propane and $554-555 per ton for butane.

[LLDPE USD Market Price]

Film: $860-910/ton (CFR Huangpu);

Injection Molding: USD 1010/ton (CFR Dongguan)

[HDPE USD Market Price]

Film: $910-980/ton (CFR Huangpu);

Hollow: USD 855/ton (CFR Huangpu);

Injection Molding: $830-850/ton (CFR Huangpu);

Pipe material: USD 1010/ton (CFR Huangpu);

[LDPE USD Market Price]

Film: $1070-1115/ton (CFR Huangpu)

Coating: 1280 USD/ton (CFR Huangpu).

[PP USD Market Price]

Homopolymer: USD 855-925/ton (CFR Huangpu);

Copolymer: $875-900/ton (CFR Nansha);

Membrane material: 1010-1030 USD/ton (CFR Huangpu);

Transparent: 985-1050 USD/ton (CFR Huangpu);

Pipes: USD 1,100/ton (CFR Shanghai).