Westlake Chemical Acquires ACI Business, Mitsubishi Chemical Develops New Packaging Technology, ASEAN Auto Market Undergoes Transformation

International News Guide

Raw Material News - Westlake Chemical Completes Acquisition of ACI Composites Business to Strengthen Global Composites Portfolio

Automotive News - ASEAN Auto Market Transformation: Fuel Vehicles Decline, Electric Vehicles Rise

Packaging News - Mitsubishi Chemical Develops PFAS-Free Oil-Resistant Paper Packaging Technology

Medical News - Gore Acquires Conformal Medical to Expand in Intravascular Interventional Therapy

Macroeconomic News - China Announces Strengthened Export Controls on Dual-Use Items to Japan; FM: Fully Justified, Reasonable, and Legal

Price News - CNY/USD Central Parity Rate Quoted at 7.0187, Down 14 Pips

International News Details

1. Domo Chemicals Halts Spot Deliveries at German Sites Due to Insolvency

According to S&P Global Platts, a source familiar with the matter revealed that Domo Chemicals Group has suspended spot deliveries from its German production sites. This follows the company's announcement on December 29 that three of its German subsidiaries — Domo Chemicals GmbH, Domo Caproleuna GmbH, and Domo Engineering Plastics GmbH — had officially filed for insolvency.

Domo Chemicals is a producer of caprolactam, cumene, nylon, and phenol. According to the source, operating rates at its various German production bases are currently below 60% to optimize raw material management. As of press time, Domo Chemicals had not responded to S&P Global Platts' request for comment.

2. Westlake Chemical Completes Acquisition of ACI Composites Business to Strengthen Global Composites Portfolio

Plastmatch learned on January 7 that Westlake Chemical (Westlake) recently announced the completion of the acquisition of the global composite solutions business of the ACI/Perplastic Group (collectively "ACI"). Headquartered in Portugal, ACI is a global specialty materials manufacturer primarily serving the wire and cable sector.

"The integration of ACI with Westlake's composites business is a strong strategic fit and presents significant opportunities to further strengthen our Housing and Infrastructure Products (HIP) business. This acquisition will expand Westlake's global composites footprint and introduce new specialty products and advanced technologies to our portfolio," said Jean-Marc Gilson, President and Chief Executive Officer of Westlake Chemical.

"ACI has built a strong reputation for providing innovative, high-value solutions," said Maribel Wilson, Vice President of Westlake Global Composites. "We are thrilled to welcome their specialized team to Westlake and look forward to collaborating in the future."

Through this acquisition, Westlake Global Composites' production footprint will expand to Portugal, Romania, and Tunisia, further complementing its existing operations in Mexico.

3. ASEAN Auto Market Transformation: Fuel Vehicles Decline, Electric Vehicles Rise

As Proton electric vehicles on Malaysian streets begin to replace traditional fuel-powered cars as the preferred commute for office workers, and as Thailand and Vietnam accelerate the deployment of charging station networks, the ASEAN automotive market is undergoing a profound "electrification revolution."

Data from PwC shows that in the first three quarters of 2025, electric vehicle deliveries in ASEAN surged by 62% year-on-year, while the 1.5% contraction in the overall automotive market came almost entirely from the traditional fuel vehicle segment.

In this shift from old to new growth drivers, Vietnamese local brand VinFast has emerged as a dark horse, Chinese automakers are accelerating their 布局 (layout/expansion), and Japanese automakers are gradually losing ground. However, issues such as supply chain fragmentation and uneven EV infrastructure still cast uncertainties over this blue ocean market.

4. Mitsubishi Chemical Develops PFAS-Free Oil-Resistant Paper Packaging Technology

Mitsubishi Chemical Corporation announced the development of a new technology that coats paper substrates with a solution of its SoarnoL™ resin, used in food packaging materials, to impart gas barrier properties and oil resistance.

5. Gore Acquires Conformal Medical to Expand in Intravascular Interventional Therapy

Materials science company W. L. Gore & Associates Inc. has entered into a definitive agreement to acquire Conformal Medical Inc., a medical device company focused on the development of next-generation Left Atrial Appendage Occlusion (LAAO) technology. The transaction is subject to regulatory approval and is expected to close in early 2026.

In a press release, the company stated that the acquisition will expand Gore's presence in the field of intravascular interventional therapy and reflects its 50-year commitment to researching and investing in breakthrough medical technologies.

Brett Snyder, Chairman of the Board and Chief Executive Officer of Gore, said: "Conformal Medical's investigational CLAAS AcuFORM System is a scientifically driven, transformative innovation that aligns perfectly with our long-standing mission to improve patient care. This product not only complements our existing intravascular portfolio but also further enriches our cardiac disease treatment pipeline. As a private enterprise founded on technological innovation, Gore will continue to prudently explore partnership opportunities, leveraging the synergies across our diverse business sectors to enhance our ability to improve human health, assist clinicians in refining treatment plans, and improve patient outcomes."

6. Largest US Vegetable Packaging Company Replaces 1 Million Pounds of Virgin Plastic with PCR

In 2025, Emerald Packaging replaced over one million pounds of virgin polyethylene (PE) with Post-Consumer Recycled (PCR) materials. In collaboration with Walmart and US fresh produce brands, the company launched 30% food-contact PCR packaging bags without compromising performance. This initiative helps divert waste, reduce carbon emissions, and promote the development of California's recycling infrastructure.

Overseas Macro Market

Trump Says US to Secure 50 Million Barrels of Oil from Venezuela; FM: China's Legitimate Rights and Interests Must Be Protected

On January 7, Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A Financial Times journalist asked that US President Trump stated the US will secure 50 million barrels of previously sanctioned oil from Venezuela, which the US will sell on Venezuela's behalf. Some of this crude was originally likely to be sold directly to China. What is China's comment?

Mao Ning stated that Venezuela is a sovereign state with full and permanent sovereignty over its natural resources and economic activities. The relevant US demands violate international law, infringe upon Venezuela's sovereignty, and undermine the rights of the Venezuelan people.

"Cooperation between China and Venezuela is between two sovereign states, protected by international law and relevant laws. China's legitimate rights and interests in Venezuela must be protected," Mao Ning emphasized.

China Announces Strengthened Export Controls on Dual-Use Items to Japan; FM: Fully Justified, Reasonable, and Legal

Regarding China's recent announcement to strengthen export controls on dual-use items to Japan, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference on January 7 that in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, China has taken measures in accordance with the law, which are fully justified, reasonable, and legal.

Memory Module Prices Approach 50,000 Yuan; A Box Costs as Much as an Apartment in Shanghai

According to third-party shopping platforms, a 256GB DDR5 server memory module from SK Hynix and Samsung costs over 40,000 yuan, with some priced as high as 49,999 yuan per module. Based on a box of 100 modules, the price is nearly 5 million yuan. An industry insider described it as "valued at more than many properties in Shanghai."

Russia Deploys Submarine to Escort Oil Tanker Intercepted by US

On January 6, a US official stated that Russia has deployed a submarine and other naval assets to escort an empty oil tanker that was previously intercepted by US forces near Venezuelan waters.

Price Information

The CNY/USD central parity rate is quoted at 7.0187, down 14 pips. The previous trading day's central parity rate was 7.0173, the official closing price was 6.9813, and the overnight closing price was 6.9830.

USD Market Prices of Upstream Raw Materials

Ethylene: $745/ton (CFR Northeast Asia); $725/ton (CFR Southeast Asia)

Propylene (Northeast Asia): Average $710/ton (FOB South Korea); Average $740/ton (CFR China)

Refrigerated Cargo CIF Prices (North Asia): Propane $547-$549/ton; Butane $607-$609/ton

Refrigerated Cargo CIF Prices (South China, early Feb): Propane $595-$605/ton; Butane $590-$600/ton

Refrigerated Cargo CIF Prices (Taiwan Region): Propane $547-$549/ton; Butane $607-$609/ton

LLDPE USD Market Prices

Film grade: $780/ton (CFR Xiamen)

Injection grade: $900/ton (CFR Yantian)

HDPE USD Market Prices

Film grade: $890/ton (CFR Huangpu)

Injection grade: $770/ton (CFR Huangpu)

Hollow grade: $795-$820/ton (CFR Huangpu)

Pipe grade: $1,000/ton (CFR Huangpu)

LDPE USD Market Prices

Film grade: $940/ton (CFR Huangpu)

Coating grade: $1,050-$1,180/ton (CFR Qingdao)

PP USD Market Prices

Injection grade: $785/ton (CFR Dongguan)

Copolymer grade: $820-$850/ton (CFR Nansha)

Film grade: $960/ton (CFR Huangpu)

Transparent grade: $1,000/ton (CFR Huangpu)

Pipe grade: $1,100/ton (CFR Shanghai)