U.S. Issues Preliminary Anti-Dumping Ruling on Chinese Polypropylene Corrugated Boxes! Mercedes-Benz Sells All Stakes in Nissan; Asahi Kasei Expands Production Capacity

International News Highlights:

Raw Materials News: U.S. Imposes 50% Tariff on Indian Goods! Takes Effect Officially on August 27

Auto News: Nissan in Trouble Faces Another Blow: Mercedes-Benz Sells All Its Stakes in Nissan

Packaging News: Indorama Ventures Achieves 150 Billion PET Bottles Recycling Milestone Electronics News: Asahi Kasei to Double PSPI Production Capacity

Macroeconomic News: Automakers Warn EU's Ban on Fuel-Powered Vehicles Is No Longer Feasible, Call for Facing Industrial and Geopolitical Realities

Price Information: Ethylene Asia: CFR Northeast Asia at 840 USD/ton; CFR Southeast Asia Below 30 USD/ton

Detailed International News:

U.S. Imposes 50% Tariff on Indian Goods! Takes Effect Officially on August 27

On August 27, the U.S. officially imposed a 50% tariff on Indian goods to penalize India for purchasing Russian oil. This move has undermined the U.S. efforts over the past few decades to build a closer relationship with India. The new tariff, the highest in Asia, took effect at 12:01 a.m. Washington time on Wednesday, doubling the existing tariff rate from 25% to 50%. This measure will affect more than 55% of India's exports to the U.S. (the U.S. is India's largest market), with the biggest impact on labor-intensive industries such as textiles and jewelry. Key exports like electronic products and pharmaceuticals have been exempted, temporarily safeguarding Apple's large-scale new factory investments in India.

Tariff Rate of 83.64%! U.S. Issues Preliminary Anti-Dumping Ruling on Chinese Polypropylene Corrugated Boxes

On August 26, the U.S. Department of Commerce announced a preliminary anti-dumping ruling on polypropylene corrugated boxes imported from China. It initially ruled that the nationwide uniform rate for China is 83.64% (the deposit after offsetting subsidies is adjusted to 73.10%). This case mainly involves products under U.S. HTSUS 3923.10.9000. Unless extended otherwise, the final anti-dumping ruling is expected to be issued jointly with the final countervailing ruling on November 12, 2025. On April 7, 2025, the U.S. Department of Commerce launched anti-dumping and countervailing investigations into polypropylene corrugated boxes imported from China, and an anti-dumping investigation into those imported from Vietnam.

Asahi Kasei to Double PSPI Production Capacity

Asahi Kasei will increase photosensitive polyimide (PSPI) production capacity at its Fuji City facility in Shizuoka Prefecture, Japan. PSPI is a key material for the global electronics industry, mainly used for buffer coatings and passivation layers in semiconductor applications.

Westlake Announces Acquisition of ACI Compounding Solutions Business

Westlake Corporation (NYSE: WLK) announced today that it has entered into an agreement to acquire the global compounding solutions businesses of the ACI/Perplastic Group (collectively, “ACI”). ACI is a Portugal-based global manufacturer of specialty materials serving the wire and cable sectors, which helps expand Westlake’s offerings.

Indorama Ventures Achieves 150 Billion PET Bottles Recycling Milestone

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced it has recycled more than 150 billion post-consumer PET bottles since 2011. This significant milestone underscores the company’s long-term commitment to circular economy practices and its sustained investment in global recycling infrastructure.

Lummus' PP Technology To Power Vioneo's Green Methanol Based Plastics Production Plant

Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced Vioneo has selected its Novolen® polypropylene (PP) technology for a new grassroots plant in Antwerp, Belgium.Once completed, this plant will be part of the Vioneo complex and become the world's first industrial-scale fossil-free plastic production complex based on green methanol. The complex will also achieve high electrification using renewable electricity and use renewable hydrogen as a key component of its operations. With a production capacity of 200 KTA, this first plant will use 100% segregated green propylene and ethylene as raw materials to produce various grades of polypropylene. Relying on high-purity raw materials and mature technology, the polypropylene will serve as a direct alternative to fossil-based counterparts. The produced plastics will be fully traceable and have negative CO2 emissions, allowing customers to reduce Scope 3 emissions.

BASF and Yara Decide to Terminate Low-Carbon Ammonia Joint Project on the U.S. Gulf Coast

On August 26, BASF and Yara International ASA jointly decided to terminate the project of developing a low-carbon ammonia production facility equipped with carbon capture and storage technology in the U.S. Gulf Coast region. Yara International ASA will continue to advance its previously announced ammonia business strategy, evaluate and screen equity investment opportunities in the U.S. ammonia production sector to determine the optimal project portfolio.

Nissan in Trouble Faces Another Blow: Mercedes-Benz Sells All Its Stakes in Nissan

On Monday, Mercedes-Benz announced its plan to sell all its 3.8% stakes in Nissan, worth approximately 346 million U.S. dollars. A Mercedes-Benz spokesperson stated that the Nissan stakes are not of strategic importance, and this sale is part of the company's strategy to streamline its investment portfolio.

Overseas Macroeconomic Market:

【South Korea's Second-Largest Securities Firm Plans to Buy Ultra-Long-Term Japanese Government Bonds for the First Time Due to High Yields and Yen Appreciation Expectations】

Korea Investment & Securities Co. plans to buy unhedged ultra-long-term Japanese government bonds for the first time to take advantage of attractive yields and its expectation that the yen will remain strong against the U.S. dollar. With approximately 63 billion U.S. dollars in assets, the company began purchasing three-month and six-month Japanese government bonds about a decade ago, and this marks its first foray into longer-dated Japanese government bonds.

【Automakers Warn EU's Ban on Fuel-Powered Vehicles Is No Longer Feasible, Call for Facing Industrial and Geopolitical Realities】

European automakers stated that the EU's planned ban on fuel-powered vehicles is no longer practical and warned that climate regulations may weaken the region's automotive industry and its supplier network. Leaders of major industry lobbying groups urged Ursula von der Leyen, President of the European Commission, in a letter to revisit the plan to phase out fossil-fuel-powered vehicles by the mid-2030s.

【After Trump Boasted About Pakistan's Huge Oil Reserves, U.S. Companies Reportedly Show Strong Interest】

The top U.S. envoy to Pakistan told Pakistan that U.S. companies have shown "strong interest" in its oil and gas industry. At the end of last month, U.S. President Donald Trump surprised the industry by praising Pakistan for having "huge" oil reserves. According to Pakistan's Ministry of Petroleum, Minister Ali Haider Zaidi met with U.S. Chargé d'Affaires Natalie A. Baker last week to discuss strengthening cooperation in the energy sector. Zaidi stated that discussions have been held with U.S. companies regarding the bidding for exploration blocks.

Price Information:

【CNY/USD Central Parity Rate】

The central parity rate of CNY against USD was reported at 7.1108, an increase of 80 pips; the central parity rate of the previous trading day was 7.1188, the official closing price of the previous trading day was 7.1621, and the overnight trading price was 7.1518.

【USD Market Prices of Upstream Raw Materials】

Ethylene Asia: CFR Northeast Asia at 840 USD/ton; CFR Southeast Asia below 30 USD/ton.

Propylene Northeast Asia: FOB South Korea average at 755 USD/ton; CFR China average at 785 USD/ton.

Northeast Asia Frozen Cargo CIF Price: Propane at 530-531 USD/ton; Butane at 540-541 USD/ton.

South China Frozen Cargo CIF Price for September Delivery: Propane at 570-580 USD/ton; Butane at 550-560 USD/ton.

Taiwan Region Frozen Cargo CIF Price: Propane at 530-531 USD/ton; Butane at 540-541 USD/ton.

【USD Market Prices of LLDPE】

Film: 860-920 USD/ton (CFR Huangpu), down 5 USD/ton;

Injection Molding: 950 USD/ton (CFR Dongguan).

【USD Market Prices of HDPE】

Film: 910-970 USD/ton (CFR Huangpu), up 5 USD/ton;

Blow Molding: 855 USD/ton (CFR Huangpu);

Injection Molding: 870 USD/ton (CFR Huangpu);

Pipes: 1025 USD/ton (CFR Huangpu).

【USD Market Prices of LDPE】

Film: 1100 USD/ton (CFR Huangpu);

Coating: 1280 USD/ton (CFR Huangpu).

【USD Market Prices of PP】

Homopolymer: 895-965 USD/ton (CFR Huangpu);

Copolymer: 900-965 USD/ton (CFR Nansha);

Film Grade: 1020 USD/ton (CFR Nansha);

Transparent Grade: 960-1055 USD/ton (CFR Huangpu), down 10 USD/ton;

Pipe Grade: 1130 USD/ton (CFR Shanghai).