SIBUR has developed a new grade of metallocene linear low-density polyethylene mLL20183 FE for flexible packaging. This brand can be used for the production of FMCG packaging: barrier and lamination films, milk bags, as well as stretch films.
SABIC Q2 Net Loss More Than Doubles, Sibur Develops New Polyethylene, Apple Forms New Team
International News Guide:
- Raw Material News - SABIC's Q2 net loss more than triples; full-year capital expenditure guidance lowered! Cost reduction is imminent
- Auto News - Toyota reportedly starts purchasing components from Chinese enterprises in Thailand
- Packaging News - SIBUR develops new polyethylene for FMCG packaging
- Electronics News - Apple reportedly forms new team: focusing on search field, developing ChatGPT competitor
- Construction News - 2025 building materials export "stumbling blocks": EU countries' policies need vigilance
- Macro News - Trump: U.S. envoy to visit Russia this week; sanctions to be imposed if Russia does not cease fire
- Price Information - RMB/USD central parity rate rises 101 points, largest increase since January 21, 2025
Details of International News:
1. SABIC's Q2 net loss more than triples; full-year capital expenditure guidance lowered! Cost reduction is imminent
Saudi Basic Industries Corporation (Sabic), a chemical subsidiary of Saudi Aramco, recently reported that it incurred an impairment cost of over 3.78 billion Saudi riyals (approximately 1.08 billion U.S. dollars) due to the announced closure of the Wilton steam cracker in Teesside, UK, in June. The company stated that "urgent cost reduction" is needed amid the current challenges in the petrochemical market.
"Clearly, reducing operating costs is imminent amid the numerous challenges in the petrochemical market," Salah al-Hareky, Executive Vice President for Corporate Finance at Sabic, said at the Q2 earnings press conference on August 3. The company reported a widening net loss in the quarter. Sabic's Q2 net loss was 4.07 billion riyals, more than tripling from the net loss of 1.21 billion riyals in the previous quarter.
2. Toyota reportedly starts purchasing components from Chinese enterprises in Thailand
According to Nikkei, Toyota Motor is expanding the procurement of components from Chinese enterprises at its largest production base in Southeast Asia, Thailand, aiming to find lower-cost components to enhance the competitiveness of an electric vehicle model planned for launch in 2028.
Nikkei quoted insiders as saying that Toyota has begun large-scale procurement of components produced by Chinese enterprises in Thailand, prompting a cooperation between Thailand's well-known supplier Summit Group and a Chinese enterprise. According to one insider, the two companies established a joint venture in January this year and plan to build a factory in Thailand to produce components for Toyota.
Nikkei quoted insiders as saying that Toyota has begun large-scale procurement of components produced by Chinese enterprises in Thailand, prompting a cooperation between Thailand's well-known supplier Summit Group and a Chinese enterprise. According to one insider, the two companies established a joint venture in January this year and plan to build a factory in Thailand to produce components for Toyota.
Nikkei noted that this is the first known instance of a major Japanese automaker attracting Chinese component manufacturers to the Southeast Asian market.
3. SIBUR Develops New Polyethylene Grade for FMCG Packaging
4. Neste and Ravago Scrap Chemical Recycling Project in the Netherlands
Finnish chemical recycler Neste and Belgian materials supplier Ravago have abandoned plans to build a pyrolysis plant in Vlissingen, the Netherlands.
The project was first announced in 2021. The partners then planned to build a chemical recycling plant with capacity to process 55,000 tons of mixed plastic waste a year. The facility would have been built based on technology developed by Ohio-based Alterra Energy. Both Ravago and Neste are minority investors in Alterra.
5. Aptar Launches Bio-based Nasal Spray Packaging Solution
Aptar Pharma has announced a significant advancement in sustainable pharmaceutical packaging with its Freepod nasal spray pump now being produced with mass balance bio-based resins.
The pump, used in Haleon's Otrivin brand products, represents the first Aptar delivery system using su
6. Apple reportedly forms new team: focusing on search field, developing ChatGPT competitor
According to a latest article by well-known Apple insider Mark Gurman, Apple has formed a new team to develop a ChatGPT-like application. Gurman revealed that the team, named "Answers, Knowledge, and Information (AKI)", is working to build an "answer engine" that can respond to questions using information from the internet. It could be a standalone app or provide search functions for Siri, Safari, and other Apple products.
Gurman also noted that Apple is recruiting for the team, particularly seeking candidates with experience in search algorithm and engine development.
7. 2025 Building Materials Export: Navigating EU Policy 'Stumbling Blocks
In 2025, the EU market is full of "hidden reefs" for building materials export enterprises. Affected by rising trade protectionism, stricter environmental requirements, and geopolitical frictions, policies in some EU countries have formed significant obstacles to China's building materials exports:
- UK: Tariff increases and post-Brexit policy barriers;
- Poland: Double attack of anti-dumping duties and investment restrictions;
- Germany: Strict environmental and certification requirements;
- France: Expansion of EPR system and market access restrictions;
- Netherlands: Material passport system and carbon footprint tracing;
- Italy: Building materials recycling rate and construction permit approval.
Facing these challenges, Chinese building materials export enterprises need to actively respond by strengthening technological research and development, improving product added value, and reducing carbon emissions to meet the EU's environmental and certification requirements. Meanwhile, enterprises should also expand diversified overseas markets to reduce reliance on the single EU market and cope with risks brought by trade protectionism.
Overseas Macro Market News:
【Trump: U.S. envoy to visit Russia this week; sanctions to be imposed if Russia does not cease fire】
U.S. President Trump told the media in Pennsylvania on the afternoon of August 3 local time that U.S. Middle East envoy Wittkopf "may visit Russia this Wednesday or Thursday". He also threatened that if Russia fails to agree to a ceasefire by this Friday (August 8), "the United States will impose sanctions". So far, there has been no response from Russia.
U.S. President Trump told the media in Pennsylvania on the afternoon of August 3 local time that U.S. Middle East envoy Wittkopf "may visit Russia this Wednesday or Thursday". He also threatened that if Russia fails to agree to a ceasefire by this Friday (August 8), "the United States will impose sanctions". So far, there has been no response from Russia.
【South Korea says $350 billion investment fund in the U.S. is mainly loan guarantees, with direct capital injection below 5%】
The policy chief of the South Korean President stated that as part of the trade agreement with the United States, South Korea's promised $350 billion investment is mainly in the form of loan guarantees rather than direct capital injection, and the actual equity commitment will remain below 5%. The plan aims to support commercially viable, pre-reviewed U.S. projects rather than providing unconditional financial support. He said that the most accurate way to understand the $350 billion is as a credit guarantee ceiling.
The policy chief of the South Korean President stated that as part of the trade agreement with the United States, South Korea's promised $350 billion investment is mainly in the form of loan guarantees rather than direct capital injection, and the actual equity commitment will remain below 5%. The plan aims to support commercially viable, pre-reviewed U.S. projects rather than providing unconditional financial support. He said that the most accurate way to understand the $350 billion is as a credit guarantee ceiling.
Price Information:
【RMB/USD central parity rate rises 101 points, largest increase since January 21, 2025】
The central parity rate of RMB against the USD is reported at 7.1395, up 101 points; the central parity rate of the previous trading day was 7.1496, the official closing price of the previous trading day was 7.2106, and the night session closing price was 7.1930.
【Upstream raw material USD market prices】
Ethylene Asia: CFR Northeast Asia 820 USD/ton; CFR Southeast Asia 830 USD/ton.
Propylene Northeast Asia: FOB South Korea average 730 USD/ton; CFR China average 765 USD/ton, down 5 USD/ton.
North Asia frozen cargo CIF: Propane 514-520 USD/ton; Butane 484-490 USD/ton.
South China frozen cargo CIF for August: Propane 551-561 USD/ton; Butane 521-531 USD/ton.
Taiwan region frozen cargo CIF: Propane 514-520 USD/ton; Butane 484-490 USD/ton.
【LLDPE USD market prices】
Film: 870-915 USD/ton (CFR Huangpu), down 5 USD/ton;
Injection molding: 940 USD/ton (CFR Dongguan).
【HDPE USD market prices】
Film: 910 USD/ton (CFR Huangpu);
Blow molding: 855 USD/ton (CFR Huangpu);
Injection molding: 890 USD/ton (CFR Huangpu);
Pipes: 1030 USD/ton (CFR Shanghai).
【LDPE USD market prices】
Film: 1075-1095 USD/ton (CFR Huangpu);
Coating: 1280 USD/ton (CFR Huangpu).
【PP USD market prices】
Homopolymer: 910-965 USD/ton (CFR Huangpu);
Copolymer: 920-965 USD/ton (CFR Nansha), down 10 USD/ton;
Transparent: 1000-1055 USD/ton (CFR Huangpu), up 5 USD/ton;
Pipes: 1160 USD/ton (CFR Shanghai).
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