Over 63 billion euros! 61 companies including BASF step up investment in Germany! AGC transfers polycarbonate business

International News Guide:

Raw Material News-Trump Slashes EPA Rules for Plastics Industry

Auto News-61 Companies Pledge €631 Billion Investment in Germany Over Next Three Years

Packaging News-To ‘Make Recycling Work,' Can Plastics Treaty Fix ‘Artificially Low' Virgin Prices?

Medical News-India Extends Anti-Dumping Duties on Imported Aniline From China for Five Years

Macro News-Kremlin: Putin to Visit China in September, Russian Side Preparing for Beijing Trip

Price Information-USD/CNY Central Parity Rises to Highest Level Since November 8, 2024

International News Details：

1. Wanhua Chemical's Hungarian Subsidiary BorsodChem to Suspend Production for Maintenance on July 23, Expected to Last 30 Days

On July 21, Wanhua Chemical issued an announcement stating that its subsidiary BorsodChem in Hungary will suspend production for maintenance starting from July 23, 2025, with the maintenance period expected to be 30 days. The shutdown involves integrated facilities such as MDI (400,000 tonnes/year) and TDI (250,000 tonnes/year) as well as related supporting equipment. It is a routine maintenance in the annual maintenance plan to ensure the safe and effective operation of production facilities. The announcement mentioned that this maintenance will not have an impact on the company's production and operation.

2. Trump Slashes EPA Rules for Plastics Industry

3. AGC Transfers Polycarbonate Business to Sumitomo Bakelite

On July 22, Japan's AGC Inc. announced that it has reached an agreement with Japan's Sumitomo Bakelite Co., Ltd. to transfer its polycarbonate business. In line with its medium-term management plan "AGC plus-2026", AGC Inc. aims to build a business portfolio that can effectively respond to market fluctuations, with high asset efficiency, strong growth potential, and high carbon efficiency.

4. India Extends Anti-Dumping Duties on Imported Aniline From China for Five Years

Recently, India's Ministry of Finance issued Customs Notification No. 25/2025, deciding to continue imposing anti-dumping duties on aniline products originating from or exported from China for five years, effective immediately. The decision is based on the sunset review results conducted by India's designated investigation agency, in accordance with Article 9A(5) of the Customs Tariff Act 1975 and relevant anti-dumping rules.

5. 61 Companies Pledge €631 Billion Investment in Germany Over Next Three Years

Germany is at risk of a third consecutive year of stagnant economic growth. Against this backdrop, a corporate joint initiative called "Made for Germany" has attracted widespread attention. Sixty-one German and international companies and investors, including Siemens, Deutsche Bank, BASF, BMW, Henkel, Infineon, ZF, and Rheinmetall, have jointly pledged to invest a total of approximately €631 billion in Germany over the next three years.According to official explanations, this fund includes not only established capital investment projects but also new investments, new technology research and development, and commitments from overseas investors, with at least tens of billions of euros being new investments.

6. Arkema Announces New Brand Name for Its Flagship High-Performance Polyimide Product: Zenimid™

Arkema and its subsidiary PI Advanced Materials announced the launch of a new brand name for their flagship high-performance polyimide product: Zenimid™. This move marks an important milestone for PI Advanced Materials in expanding the global influence of its product line in multiple markets such as aerospace, automotive, electronics, and industry. Zenimid™ polyimide materials are specifically designed for use in extreme environments, featuring excellent dimensional stability, flexibility, heat resistance, chemical resistance, and electrical insulation.

7.  Indian Government: Comprehensive Investigation Into Imported Medical Devices From China

The Indian government recently announced that it will launch a comprehensive investigation into the use of Chinese medical devices in the healthcare sector, focusing on data privacy leaks and national security threats. The investigation is promoted by an interministerial meeting chaired by Commerce Minister Piyush Goyal, with participation from medical technology industry representatives, cybersecurity experts, and the defense sector, aiming to assess the penetration risks of Chinese devices in India's medical system.

8. To ‘Make Recycling Work,' Can Plastics Treaty Fix ‘Artificially Low' Virgin Prices?

Overseas Macro Updates:

Report: Bank of England Considering Shelving Digital Pound Plan

Bank of England officials are considering whether to shelve plans to create a digital pound amid growing skepticism about the project's benefits. According to people familiar with the matter, the Bank of England has been privately urging banks to accelerate payment system innovation to bring similar benefits without creating a central bank digital currency (CBDC) for consumers.

Iran: To Hold Trilateral Talks With China and Russia

On July 21 local time, Iranian Foreign Ministry Spokesperson Ismail Baghaei stated at a regular press conference that Iran will hold trilateral talks with China and Russia on the Iranian nuclear issue.

Report: Bank of Japan Likely to Keep Benchmark Interest Rate Unchanged Next Week, Deeming Election Impact on Rate Stance Insignificant

The Bank of Japan is 据悉 likely to keep its benchmark interest rate unchanged next week, as it believes the election has little impact on its rate stance. The Bank of Japan will observe the impact of trade negotiations before raising interest rates. It believes that significant fiscal easing could trigger upward price risks.

Chinese Tourists With U.S. Visas Exempt From Visa Requirements for Argentina

According to Reuters, the Argentine government announced on Monday that Chinese citizens holding valid U.S. entry visas will no longer need to apply for an Argentine visa for tourism or business activities in Argentina. The move is seen as a measure to relax entry policies amid warming relations between Buenos Aires and Beijing. According to a statement on the Argentine government's official website, President Milei made this decision to boost tourism and "remove mechanisms that hinder the free development of Argentina's economy", with tourism being a strategic sector for Argentina.

Kremlin: Putin to Visit China in September, Russian Side Preparing for Beijing Trip

According to Russian satellite news agency, TASS and other media reports on the 21st local time, Russian President's Press Secretary and Kremlin Spokesman Dmitry Peskov stated that Russian President Putin will visit China in September to attend the commemorative activities for the 80th anniversary of the victory of the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War, and the Russian side is preparing for the trip to Beijing.

Price Information:

USD/CNY Central Parity Rises to Highest Level Since November 8, 2024

The USD/CNY central parity was quoted at 7.1460, up 62 pips; the previous trading day's central parity was 7.1522, the previous trading day's official closing price was 7.1768, and the overnight closing price was 7.1707.

Upstream Raw Materials USD Market Prices

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.

LLDPE USD Market Prices

Film: $860-900/tonne (CFR Huangpu);

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

HDPE USD Market Prices

Film: $920/tonne (CFR Huangpu);

Hollow: $855-860/tonne (CFR Huangpu);

Pipe: $1,045/tonne (CFR Huangpu).

LDPE USD Market Prices

Film: $1,070-1,075/tonne (CFR Huangpu);

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

PP USD Market Prices

Homopolymer: $965/tonne (CFR Huangpu);

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

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

Transparent: $1,000-1,070/tonne (CFR Huangpu), down $5/tonne;

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