Sino-US Economic and Trade Consultations Outcomes Announced! Celanese Closes European Plant; General Motors Lays Off Employees and Suspends Production

International News Guide

Raw Material News - OMV Raises Europe Olefins Performance Forecast, Lowers Polyolefins Sales Projection

Auto News - General Motors Lays Off Over 3,400 Employees, Suspends Production at Some Battery Plants

Packaging News - Amcor Uses 218,000 Tonnes of Recycled Plastics in FY2025; 96% of Flexible Packaging Technically Recyclable

Electronics News - Röhm's PMMA Material Used in Zumtobel's Next-Gen TECTON Lighting System, Demonstrating Excellent Optical Properties

Other News - CJ Biomaterials Launches New Bio-Based PHA Masterbatch, Suitable for Wet Wipes, Diapers, Hygiene Products, etc.

Macroeconomic News - Sino-US Economic and Trade Consultations Outcomes Announced

Price Information - Northeast Asia Propylene FOB Korea Average Price Stabilizes at USD 730/ton; CFR China Average Price Stabilizes at USD 745/ton

Details of International News

1. Amcor Uses 218,000 Tonnes of Recycled Plastics in FY2025; 96% of Flexible Packaging Technically Recyclable

In FY2025, Amcor successfully achieved its global target of using 10% post-consumer recycled (PCR) plastics. It used a total of 218,000 tonnes of PCR plastics throughout the year, accounting for 10% of total plastic consumption. Since 2019, the PCR materials used by Amcor have grown steadily, showing the company's strong momentum in procuring and applying recycled materials.

As of June 30, 2025, Amcor delivered an impressive performance in recyclable design:

(1) Overall Recyclability: 72% of packaging products (by weight), equivalent to 1.712 million tonnes of packaging, comply with recyclability guidelines.

(2) Flexible Packaging Portfolio: 96% of the flexible packaging product portfolio (by area) now has "ready-for-recycling" solutions available for customers.

2. Röhm's PMMA Material Used in Zumtobel's Next-Gen TECTON Lighting System, Demonstrating Excellent Optical Properties

Recently, Zumtobel, an international professional brand for lighting solutions, launched the second generation of its popular TECTON lighting system. For more than 20 years, the TECTON continuous lighting system has provided ideal lighting for supermarkets, high-bay warehouses, production workshops, data centers, offices, educational institutions and other venues.

According to the company based in Dornbirn, Austria, the total installed length of the TECTON system worldwide has exceeded 39,000 kilometers. In upgrading to TECTON II, Zumtobel retained its classic design elements while innovating multiple features: the company once again adopted Röhm's PLEXIGLAS® PMMA material to manufacture precision optical components.

3. Saudi Aramco and GIP-led Global Investment Consortium Finalize USD 11 Billion Jafurah Midstream Business Transaction

Saudi Aramco, a global leader in the integrated energy and chemical sector, has officially completed the landmark USD 11 billion sale-and-leaseback investment agreement for its Jafurah gas processing facilities. The transaction was executed by an international investment consortium led by funds managed by Global Infrastructure Partners (GIP, affiliated with BlackRock).

First announced in August 2025, the transaction is a key milestone in Aramco's strategy to optimize its asset portfolio and creates substantial value for investors. The consortium participating in this investment includes well-known institutional investors such as Hassana Investment Company, The Arab Energy Fund (TAEF), Aberdeen Standard Investments Infrastructure Partners, as well as other investors from North America, Southeast Asia and the Middle East. This transaction highlights global investors' confidence in Aramco's operations and its long-term growth strategy.

4. Arkema Continues Decarbonization Efforts at Specialty Sulfur Derivatives Plant

Arkema has completed the modernization and decarbonization project at its Lacq/Mourenx plant, which specializes in the production of specialty sulfur derivatives, particularly for agrochemicals, oil refining, petrochemicals and renewable fuels.

Following the first investment launched in 2022, which reduced greenhouse gas emissions at the site by 28%, this new project includes the construction of a sulfur-based wastewater treatment plant. The plant operates a more efficient process, helping to reduce SO2 emissions by 40% and greenhouse gas emissions by more than 10%.

5. Celanese Announces Closure of Acetate Tow Plant, Affecting 160 Jobs

Plastmatch learned that Celanese, a global chemical and specialty materials company, announced to employees and local trade union representatives on October 28 that it plans to terminate the operation of its acetate tow plant in Lanaken in the second half of 2026. Currently, Celanese plans to initiate formal information and consultation procedures with local trade union representatives.

The acetate tow industry is currently facing numerous challenges, including declining demand and increased uncertainty in the regulatory environment. The decision to close the plant is also influenced by the company's need to optimize its cost structure—especially the relatively high energy and operating costs of the Lanaken plant. After a strategic assessment, Celanese believes that the continued operation of the plant is no longer economically viable.

6. OMV Raises Europe Olefins Performance Forecast, Lowers Polyolefins Sales Projection

Plastmatch learned on October 30 that OMV, the Austrian oil, gas and chemical group, raised its full-year performance guidance for the company's European olefins business in 2025 but lowered its polypropylene (PP) profit margin forecast, citing persistent pressure from competitive imports and a challenging market environment.

The company also reversed its previous upward revision of the full-year polyolefin sales forecast and lowered the expected average operating rate of steam crackers in Europe. On October 29, OMV announced its full-year performance guidance in an earnings update. Data shows that the company's chemical business operating profit in the third quarter increased by 64% year-on-year to EUR 222 million, up from EUR 200 million in the previous quarter. Currently, OMV expects the average ethylene indicator profit margin in Europe to be approximately EUR 560 per tonne. This figure is higher than the previous guidance of "over EUR 520 per tonne" released in July and significantly higher than the actual ethylene profit margin of EUR 505 per tonne in 2024.

7. CJ Biomaterials Launches New Bio-Based PHA Masterbatch, Suitable for Wet Wipes, Diapers, Hygiene Products, etc.

CJ Biomaterials, a subsidiary of South Korea's CJ CheilJedang and a major producer of polyhydroxyalkanoate (PHA) biopolymers, recently launched PHACT™ MA1350Q—a new PHA masterbatch specifically designed for short-fiber and spunbond nonwoven applications.

As a new member of the company's PHACT™ PHA product line, PHACT™ MA1350Q has unique advantages of strength, softness and stability, which can enhance the performance of compostable nonwovens used in wet wipes, diapers, hygiene products, etc.

8. General Motors Lays Off Over 3,400 Employees, Suspends Production at Some Battery Plants

On Wednesday (Eastern Time), General Motors announced a series of production suspension and layoff plans for electric vehicle and battery plants. This marks a further contraction of the company's electric vehicle business.

General Motors stated that due to the significant decline in demand for its electric vehicles and battery products in the United States, the company will reduce the production of electric vehicles and batteries in the United States, cut 1,200 jobs at its electric vehicle plant in Detroit, and 550 jobs at its battery plant in Ohio. General Motors said it will suspend production at two U.S. joint-venture battery plants in Tennessee and Ohio for about six months starting in January next year. In addition, the company will temporarily lay off about 1,550 employees at these two battery plants. Separately, at the Ohio plant, General Motors said it will lay off 550 employees indefinitely. The plant is jointly operated by General Motors and South Korea's LG Energy Solution.

9. Brazil Imposes Provisional Anti-Dumping Duties on Chinese Nylon Filaments

Recently, the Executive Management Committee of the Brazilian Foreign Trade Chamber (GECEX) issued Resolution No. 805 of 2025, deciding to impose a six-month provisional anti-dumping duty on nylon filaments originating from or imported from Chinese producers/exporters Yiwu Huading Nylon Co., Ltd. The duty rate is USD 1,973.23 per tonne. Its affiliated enterprises Jiangxi Jihao New Materials Co., Ltd., Zhejiang Yate New Materials Co., Ltd., and Yiwu Dingt New Materials Co., Ltd. also face the same rate of USD 1,973.23 per tonne.

The Mercosur tariff codes of the involved products are 5402.31.11, 5402.31.19 and 5402.45.20. This resolution takes effect from the date of issuance.

Overseas Macroeconomic Market

Sino-US Economic and Trade Consultations Outcomes Announced

On October 30, a spokesperson for the Ministry of Commerce answered reporters' questions on the joint arrangements for the Sino-US economic and trade consultations in Kuala Lumpur. The main outcomes and consensus reached by the Chinese and US economic and trade teams through the consultations in Kuala Lumpur are as follows:

1. The US side will cancel the 10% so-called "fentanyl tariff" imposed on Chinese goods (including those from the Hong Kong Special Administrative Region and the Macao Special Administrative Region), and the 24% reciprocal tariff imposed on Chinese goods (including those from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) will continue to be suspended for one year. The Chinese side will correspondingly adjust its countermeasures against the above-mentioned US tariffs. The two sides agreed to continue extending some tariff exclusion measures.
2. The US side will suspend the implementation of the 50% penetration rule for export controls announced on September 29 for one year. The Chinese side will suspend the implementation of relevant export control measures announced on October 9 for one year and will study and refine specific plans.
3. The US side will suspend the implementation of its Section 301 investigation measures against China's maritime, logistics and shipbuilding industries for one year. After the US side suspends the implementation of relevant measures, the Chinese side will also correspondingly suspend the implementation of countermeasures against the US side for one year.

List Announced! Mexico Officially Imposes Tariffs on 1,400 Chinese Products! Maximum Rate 50%

On October 29, the Mexican Senate officially approved the 2026 budget revenue proposal put forward by President Claudia Sheinbaum. This proposal is part of Sheinbaum's "Plan México", aiming to boost domestic production, reduce import dependence and enhance economic sovereignty.The proposal involves 1,371 tariff codes, accounting for 16.8% of all Mexican tariff codes. It mainly targets more than 1,400 products, focusing on key industries to reduce the trade deficit with Asia (especially China). The main target industries include automotive, textile, plastic, steel, clothing, toys, footwear, furniture, paper and glass.

Trump Orders Resumption of Nuclear Tests; Foreign Ministry: Hopes US Takes Practical Actions to Safeguard Global Strategic Balance and Stability

Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. A reporter from RIA Novosti asked that US President Trump said he had ordered the immediate resumption of US nuclear tests. He also said that the United States has the world's largest nuclear arsenal, but China can catch up with the United States within five years. What is China's comment on this?Guo Jiakun responded that China hopes the US side will earnestly fulfill its obligations under the Comprehensive Nuclear-Test-Ban Treaty and its commitment to suspending nuclear tests, and take practical actions to safeguard the international nuclear disarmament and non-proliferation system, as well as global strategic balance and stability.

BOJ Governor Says Likelihood of Economic Outlook Being Achieved Increases; Not Falling Behind Inflation

Bank of Japan (BOJ) Governor Kazuo Ueda said at a press conference after the central bank's decision on Thursday that the possibility of the economy meeting the central bank's expectations is gradually increasing. He reaffirmed the commitment to raise interest rates if the economic outlook is achieved. The exact level of the neutral interest rate cannot be asserted.It is expected that in the second half of the current outlook period, the price trend will be consistent with the bank's 2% inflation target. The upside and downside risks to prices are roughly balanced. He does not believe the central bank is falling behind the price situation, saying there is insufficient information to predict the results of the next wage negotiations. Uncertainty remains high. It is crucial to have no preconceptions about the outlook. He hopes to reassess the outlook for wage growth. More attention needs to be paid to enterprises' wage setting in the context of tariffs.

Fed Cuts Interest Rates by 25 Basis Points, Announces End of QT in December

Fed Resolution Statement: Lowered the target range for the federal funds rate by 25 basis points to 3.75%-4%.

Bank of Canada Cuts Interest Rates by 25 Basis Points, in Line with Expectations

The Bank of Canada's policy rate was lowered to 2.25%, the lowest level since July 2022, in line with expectations of 2.25%, compared with the previous value of 2.5%.

Bank of Canada Releases Economic Forecast for the First Time Since January

Bank of Canada: Expects Q3 GDP to grow by 0.5% quarter-on-quarter and Q4 by 1%; lowers the growth forecast for the second half of 2025 to 0.75%. It lowers the 2025 GDP growth rate to 1.2% (previously expected to grow by 1.8%) and the 2026 GDP growth forecast to 1.1% (previously expected to grow by 1.8%).

Price Information

The central parity rate of RMB against the US dollar was reported at 7.0864, down 21 basis points; the central parity rate of the previous trading day was 7.0843, the official closing price of the previous trading day was 7.0991, and the night session closing price of the previous day was 7.0993.

Upstream Raw Materials US Dollar Market Prices

CFR Northeast Asia: USD 750/ton, stable; CFR Southeast Asia: USD 755/ton, stable.

Northeast Asia Propylene FOB Korea Average Price: USD 730/ton, stable; CFR China Average Price: USD 745/ton, stable.

North Asia LNG CIF Prices: Propane USD 510-512/ton; Butane USD 546-548/ton.

China South China LNG CIF Prices for November Delivery: Propane USD 535-545/ton;Butane USD 535-545/ton.

Taiwan Region LNG CIF Prices: Propane USD 510-512/ton;

Butane USD 546-548/ton.

LLDPE US Dollar Market Prices

Film: USD 830-860/ton (CFR Huangpu);

Injection Molding: USD 935/ton (CFR Huangpu)

HDPE US Dollar Market Prices

Film: USD 860-900/ton (CFR Huangpu);

Injection Molding: USD 820/ton (CFR Huangpu);

Blow Molding: USD 830-860/ton (CFR Huangpu);

Pipes: USD 1,010/ton (CFR Huangpu)

LDPE US Dollar Market Prices

Film: USD 1,030-1,050/ton (CFR Huangpu);

Coating: USD 1,280/ton (CFR Huangpu)

PP US Dollar Market Prices

Injection Molding: USD 840-915/ton (CFR Huangpu); Copolymer: USD 840-870/ton (CFR Nansha);

Film Grade: USD 1,015/ton (CFR Huangpu);

Transparent Grade: USD 1,035-1,080/ton (CFR Huangpu);

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