Trinseo to Suspend MMA Production in Italy! Healix on Brink of Collapse, BYD Steps Up in Europe

International News Guide:

Raw Material News - Trinseo to Suspend MMA Production in Italy

Packaging News - Canadian Company Freshr and Mitsubishi Chemical Sign Joint Development Agreement to Reduce Food Waste with Sustainable Packaging Technology

Medical News - Junkosha Launches "Next-Level" Transparent Peelable Heat-Shrinkable Medical Tubing

Automotive News - BYD Plans Significant Expansion of Dealer Network in Germany

Macroeconomic News - EU: To Immediately Reimpose Iran Nuclear-Related Sanctions

Price Information - Ethylene Asia: CFR Northeast Asia USD 815/ton; CFR Southeast Asia USD 810/ton

Details of International News:

Trinseo to Suspend MMA Production in Italy

Recently, sources familiar with the matter revealed that Trinseo will indefinitely suspend production at its methyl methacrylate (MMA) plant located in Rho, Italy. The source stated that this MMA plant with an annual capacity of 100,000 tons will cease production starting from September 29. The reason for the production suspension is the plant's sustained low profitability. The source further pointed out that high energy costs and high raw material costs remain major challenges for European producers: in the first and second quarters of this year, the contract price of methanol (a raw material) remained at a high level; while the contract price of acetone was approximately EUR 200 per ton higher than the spot market price. "We hope to resume production in the future, but we still need a clearer outlook assessment at present," the source said.

Canadian Company Freshr and Mitsubishi Chemical Sign Joint Development Agreement to Reduce Food Waste with Sustainable Packaging Technology

According to Plastmatch, Freshr Sustainable Technologies Inc., a Canada-based packaging R&D company, announced that it has officially signed a joint development agreement with Japan’s Mitsubishi Chemical Corp. (MCC for short). Mitsubishi Chemical Group is the holding company of MCC, and the group stated that it has invested in Freshr to support the Canadian company’s large-scale application of technology and global business expansion. This move is highly aligned with MCG’s “Kaiteki Vision 35” strategy. Freshr pointed out that this cooperation is a key step in advancing its goal of “reducing food waste through sustainable packaging R&D”; it also emphasized that this joint development agreement reflects the strategic synergy between the two parties and MCG’s “Kaiteki Vision 35”.

Crisis in Netherlands’ Plastic Recycling Industry Intensifies: Healix on Brink of Bankruptcy, Multiple Enterprises Withdrawing Successively

According to Plastmatch, the Netherlands' recycling industry is going through a difficult period. Although the Netherlands has long been regarded internationally as a benchmark for circular innovation over the years, the number of bankruptcy cases in the industry is now accumulating rapidly. News this week indicated that Healix, a company located in Maastricht, is also on the verge of bankruptcy. This company, which focuses on handling waste fishing nets and agricultural plastics, can no longer compete with new plastics that have extremely low prices. Healix's bankruptcy reflects that the entire recycling industry is under tremendous pressure - and may be at a critical point moving towards structural decline.

Indaver Delivers First Batch of Chemically Recycled Polystyrene

Plastmatch learned on September 29 that Indaver has started production at its chemical recycling plant in Antwerp, Belgium. This Belgian waste management company delivered the first batch of recycled polystyrene this week. After two years of construction, the Plastics2Chemicals plant was completed in October 2024, and officially started production one year later. This pyrolysis facility has an annual capacity of handling 26,000 tons of plastic waste, which can process post-consumer polystyrene and polyolefins. Ineos Styrolution's production base in Antwerp is the first enterprise to receive the recycled styrene monomer produced by Indaver.

Xenia Materials Launches Technology to Enhance Impact Resistance of Fiber-Reinforced Materials

Xenia Materials has launched a technology that can enhance the impact resistance of fiber-reinforced materials. The ST upgraded version significantly improves impact resistance, with an average increase of 60% compared to the original formula, ensuring reliable performance at both room temperature and low temperatures. At the same time, it enhances flexibility and elastic behavior, with the elongation at break increasing by an average of 40% compared to the non-upgraded formula.

Junkosha Launches "Next-Level" Transparent Peelable Heat-Shrinkable Medical Tubing

Junkosha, a leading manufacturer of peelable heat-shrinkable tubing, recently announced the launch of its transparent peelable heat-shrinkable tubing product. This is a "next-level" solution that enables catheter manufacturers to achieve excellent transparency, reduce assembly risks, and simplify processes. In addition to its growing range of peelable heat-shrinkable tubing, Junkosha stated that the "significant expansion" of its production capacity and manufacturing capabilities provides customers with more options for peelable heat-shrinkable tubing and etched PTFE liner series.

GS Caltex Expands Low-Carbon Business: Advances South Korea's CCUS Cluster, Carbon-Free Steam, Biofuels, and Plastic Recycling

GS Caltex, South Korea's largest refining and chemical enterprise, announced today the comprehensive expansion of its low-carbon business scope. By building the Yeosu CCUS Cluster, promoting carbon-free steam technology, developing biofuels, and establishing a plastic recycling industrial chain, it is accelerating its transformation into a sustainable energy service provider. This move aims to respond to global energy structure changes and consolidate its leading position in the traditional refining and chemical field. As a core measure for transformation, GS Caltex is collaborating with enterprises in the Yeosu Industrial Park and local governments to build the "Yeosu CCUS Cluster". This cluster realizes the centralized treatment of carbon capture resources from multiple enterprises by sharing pipelines, liquefaction storage, and transportation facilities. Compared with the model where a single enterprise builds independently, cluster operation can reduce pipeline construction costs by more than 30% and improve carbon capture efficiency.

BYD Plans Significant Expansion of Dealer Network in Germany

Lars Bialkowski, the newly appointed Managing Director of BYD Germany, stated in an interview that he has full confidence in the expansion strategy of BYD, a Chinese automaker. The former Stellantis executive said that BYD plans to significantly expand its dealer network in Germany. Currently, BYD has 63 active sales outlets in Germany; by the end of this year, this number will reach at least 120, among which contracts for 100 outlets have already been signed. By the end of 2026, the network will be expanded to 300 service and sales outlets.

Overseas Macroeconomic Market:

【Ministry of Foreign Affairs: China to Add Youth Science and Technology Talent Visa】

Spokesperson of the Ministry of Foreign Affairs Guo Jiakun hosted a regular press conference. A reporter asked a question about China's launch of the "K Visa". Guo Jiakun stated that to promote exchanges and cooperation between Chinese and foreign youth science and technology talents, China has decided to add a youth science and technology talent visa, namely the "K Visa", under the ordinary visa category. For specific matters regarding the application for the "K Visa", please pay attention to the relevant information to be released by Chinese embassies and consulates abroad.

【EU: To Immediately Reimpose Iran Nuclear-Related Sanctions】

According to CCTV reports, on September 28, the European External Action Service issued a statement announcing that the EU will immediately proceed to reimpose all previously lifted sanctions related to Iran's nuclear program. The EU stated that the reimposition of sanctions is triggered by Iran's failure to fulfill its commitments under the Joint Comprehensive Plan of Action (JCPOA), in accordance with the "Snapback Sanctions" mechanism.

【U.S. September Nonfarm Payrolls Report May Be Forced to Delay Release if Federal Government Shuts Down】

If the U.S. Department of Labor follows an emergency operation plan it outlined earlier this year, the September nonfarm payrolls report, originally scheduled to be released next Friday, will be delayed in the event of a federal government shutdown. The specific scope of the government shutdown is unclear, as most government agencies, including the U.S. Bureau of Labor Statistics (BLS) which is responsible for compiling the monthly employment report, have not publicly released updated emergency plans in case Congress fails to pass a spending bill before the end of the fiscal year next Tuesday.

【OPEC+ Plans to Increase Production Again】

OPEC+ is considering increasing oil production again in November, and may discuss a production increase of at least 137,000 barrels per day at the meeting on October 5.

Price Information:

【CNY/USD Central Parity Rate】

The central parity rate of CNY against USD was reported at 7.1089, an increase of 63 pips; the central parity rate of the previous trading day was 7.1152, the official closing price of the previous trading day was 7.1345, and the night session closing price of the previous day was 7.1349.

【Upstream Raw Material USD Market Prices】

Ethylene Asia: CFR Northeast Asia USD 815/ton; CFR Southeast Asia USD 810/ton.

Propylene Northeast Asia: FOB South Korea average USD 760/ton; CFR China average USD 790/ton.

North Asia refrigerated cargo CIF price: Propane USD 527-529/ton; Butane USD 543-545/ton.

South China refrigerated cargo CIF price for late October: Propane USD 580-590/ton; Butane USD 560-570/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 527-529/ton; Butane USD 543-545/ton.

【LLDPE USD Market Prices】

Film: USD 895-905/ton (CFR Huangpu);

Injection Molding: USD 1010/ton (CFR Dongguan).

【HDPE USD Market Prices】

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

Blow Molding (Hollow): USD 855-865/ton (CFR Huangpu);

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

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1050-1110/ton (CFR Huangpu);

Coating: USD 1280/ton (CFR Huangpu).

【PP USD Market Prices】

Homopolymer: USD 855-915/ton (CFR Huangpu);

Copolymer: USD 865-890/ton (CFR Nansha);

Film Grade: USD 1010-1030/ton (CFR Huangpu);

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

Pipes: USD 1100/ton (CFR Shanghai).