RMB Hits 32-Month High! Alpek Shuts Down PET Recycling Plant; Porsche Sales Plummet

International News Highlights:

Material News - Second One in Half a Year! Alpek to Shut Down U.S. PET Recycling Plant

Automotive News - SK On and Hyundai Motor Cooperate to Develop New EV Battery Cooling Technology

Packaging News - Production Capacity to Double! Polykar Announces $20 Million Expansion Plan

Medical News - 7 Plastic Components + 2 Springs! MGS A.i.r. Creates Minimalist Auto-injector

Macro News - South Korean Official: Will Negotiate with U.S. for Chip Tariff Concessions

Price Information - RMB/USD Central Parity Rate Hits New High in Over 32 Months

Below are the Details of International News:

Second One in Half a Year! Alpek to Shut Down U.S. PET Recycling Plant

Multiple market sources revealed that Alpek SAB de CV, based in Monterrey, Mexico, will shut down its polyethylene terephthalate (PET) recycling and pelletizing plant in Reading, Pennsylvania, USA, in January 2026. This integrated facility has an annual capacity of 115,000 tons for bottle flake recycling and 49,000 tons for bottle flake pelletizing. Alpek is a leading PET producer in the Americas with a layout in recycled PET business.

Victoria, Australia Achieves Major Leap in Plastic Recycling Capacity

Victoria, Australia, has recently made a significant breakthrough in plastic recycling. With a joint investment of 4 million Australian dollars from the Albanese Government, the Allan Labor Government and the industry, the state will add 16,700 tons of annual plastic recycling capacity. This will effectively reduce the landfill volume of hard-to-recycle materials such as flexible plastics and promote resource recycling.

The four funded projects have their own characteristics:

Pact Recycling's "Bag Recycling Program" in Cheltenham will specifically handle packaging bags for transporting seeds, fertilizers, pesticides and feed.

APR in Dandenong has introduced Norwegian infrared sorting technology to upgrade its flexible plastic sorting system.

Australian Soft Plastic Recycling in Pakenham will improve the recycling quality of low-density polyethylene films such as stretch wrap collected from supermarket warehouses through facility renovation.

RE4ORM in Barnawartha will focus on the recycling and utilization of low-density plastics to produce new recycled products.

7 Plastic Components + 2 Springs! MGS A.i.r. Creates Minimalist Auto-injector

Contract Development and Manufacturing Organization (CDMO) MGS stated that a newly developed auto-injector is hailed as "a major leap forward in the R&D, customization and large-scale production of auto-injectors".

MGS pointed out that the A.i.r. platform is built on an adaptable and patent-pending core engine, which can be integrated into various device forms. The platform supports customizable filling volumes from 0.3 to 2.25 milliliters, and its design adopts a flexible R&D path to meet various therapeutic, usability and branding needs.

Production Capacity to Double! Polykar Announces $20 Million Expansion Plan

Polykar, a Canadian manufacturer of sustainable packaging solutions, has selected Farmor Architects to design the second-phase expansion project of its Edmonton plant, with a total investment of $20 million. After the completion of the project, the plant's production capacity will double and 25 new full-time jobs will be created.

The expansion will add 50,000 square feet of modern production space to the plant. It is expected that after it is put into use in autumn 2026, the plant's annual production capacity will increase to 40 million pounds. Looking back, Polykar invested $40 million to build this Edmonton production base in 2019.

SK On and Hyundai Motor Cooperate to Develop New EV Battery Cooling Technology

South Korean battery manufacturer SK On and automotive giant Hyundai Motor are joining hands to develop a new electric vehicle battery cooling technology - Large Surface Cooling (LSC) technology.

It is reported that currently, electric vehicle batteries are generally cooled at the module or battery pack level, while LSC technology takes a unique approach by placing cooling plates directly between battery cells for direct cooling. SK On's flagship product is pouch batteries, which usually connect cells with polyurethane or silicone materials to form modules, and then combine these modules into battery packs with coolant flow areas at the bottom and sides.

In LSC technology, metal heat sinks are added between cells to further improve heat dissipation efficiency. Unlike traditional methods, LSC abandons mica, which is currently used as thermal insulation material between battery cells in most batteries, and allows cooling plates to directly absorb and dissipate heat.

CO₂ from Sludge Turned into PLGA Degradable Packaging, Avantium Unlocks "Air-to-Packaging" Code

Recently, Avantium announced the development of a new PLGA polymerization technology. This technology uses reactive solvents to promote water removal, reduce hydrolysis reverse reactions that limit molecular weight increase, and the solvents are easy to recycle. It has been successfully applied at the laboratory scale.

The HICCUPS project focuses on the efficient conversion of bio-based CO₂ from sewage treatment plants, converting CO₂ in sludge into monomers through electrochemical processes, which are then polymerized to form PLGA. This biodegradable polymer has both excellent barrier properties and good processability, and can naturally degrade into lactic acid and glycolic acid without toxic residues, providing a renewable alternative to fossil-based polyethylene. The project will further develop PLGA-based materials such as coated paper and molded plastic products for food packaging, promoting its expansion from the medical field to the food packaging field.

Netherlands Launches Nine Major Plastic Recycling Projects

Recently, the "Circular Plastics Netherlands" (CPNL) program supported by the Dutch National Growth Fund officially launched nine plastic recycling projects. Among them, the key demonstration project "RePliCa" was launched in Herentals, aiming to develop food-grade recycling technology for HDPE milk bottles and operate a 10,000-ton demonstration line.

This initiative aims to meet the mandatory recycled material targets set by the EU's Packaging and Packaging Waste Regulation (PPWR). By 2030, PET in sensitive contact packaging must contain 30% recycled materials, and other plastics must contain 10%. Currently, only the PET recycling process has obtained food-grade approval from the European Food Safety Authority, and all parties are accelerating efforts to obtain certification for materials such as rHDPE.

Overseas Macro Market Information:

Polish Army Considering Banning Chinese EVs from Military Bases? MFA Responds

At the regular press conference of the Ministry of Foreign Affairs on January 19, a reporter asked: Polish media reported that the Polish Army is considering banning Chinese electric vehicles from entering military bases on the grounds of the risk of collecting sensitive data. What is China's comment on this?

In response, Spokesperson Guo Jiakun said: "We have noticed relevant reports. China has always believed that the concept of national security should not be over-generalized." Guo Jiakun also stated that the World Economic Forum Annual Meeting is an important platform for discussing global economic trends and promoting cooperative development, known as the "weather vane of the world economy". Vice Premier He Lifeng will deliver a speech at the opening plenary session of the forum.

Porsche China President Responds to Sales Decline: An Expected Adjustment

Porsche recently released data showing that its global sales in 2025 were 279,400 units, a year-on-year decrease of 10%. Among them, sales in the Chinese market were 41,900 units, a year-on-year drop of 26.28%.

Regarding the sales decline in the Chinese market, Alexander Pollich, President of Porsche China, said: "2025 was indeed a challenging year for the entire luxury car market. As a pure import brand focusing on the ultra-luxury segment, Porsche faced more direct pressure. Our sales adjustment in 2025 is a proactive response to the market environment and an expected adjustment under the core strategy of prioritizing quality over quantity. We are committed to maintaining a healthy supply-demand relationship and a stable value system."

South Korean Official: Will Negotiate with U.S. for Chip Tariff Concessions

A spokesperson for the South Korean Presidential Office said at a briefing on Sunday that the government will strive for preferential treatment for South Korean memory chip import tariffs from the United States.

IMF Raises China's Economic Growth Forecast

The International Monetary Fund (IMF) released an update to its World Economic Outlook Report on January 19, raising China's economic growth rate forecast for 2025 by 0.2 percentage points to 5%, while also upgrading the forecast for 2026.

Price Information:

RMB/USD Central Parity Rate Hits New High in Over 32 Months

The RMB/USD central parity rate was set at 7.0051, up 27 pips; the previous trading day's central parity was 7.0078, the previous trading day's official closing price was 6.9690, and the previous night session closed at 6.9720.

Upstream Raw Material USD Market Prices

CFR Northeast Asia is at 725 U.S. dollars per ton, and CFR Southeast Asia is at 710 U.S. dollars per ton. Northeast Asia propylene FOB Korea averages 740 U.S. dollars per ton, and CFR China averages 790 U.S. dollars per ton. North Asia refrigerated cargo CIF prices are 558 to 560 U.S. dollars per ton for propane and 578 to 580 U.S. dollars per ton for butane. China South China refrigerated cargo CIF prices for early February arrival are 599 to 609 U.S. dollars per ton for propane and 594 to 604 U.S. dollars per ton for butane. Taiwan refrigerated cargo CIF prices are 558 to 560 U.S. dollars per ton for propane and 578 to 580 U.S. dollars per ton for butane.

LLDPE USD Market Prices

Film is priced at 800 U.S. dollars per ton (CFR Xiamen); Injection is priced at 820 U.S. dollars per ton (CFR Huangpu).

HDPE USD Market Prices

Film is priced at 890 U.S. dollars per ton (CFR Huangpu); Injection is priced at 770 U.S. dollars per ton (CFR Huangpu); Blow molding ranges from 795 to 840 U.S. dollars per ton (CFR Huangpu); Pipe is priced at 1000 U.S. dollars per ton (CFR Huangpu).

LDPE USD Market Prices

Film is priced at 1020 U.S. dollars per ton (CFR Huangpu); Coating ranges from 1050 to 1180 U.S. dollars per ton (CFR Qingdao).

PP USD Market Prices

Injection is priced at 800 U.S. dollars per ton (CFR Dongguan); Copolymer is priced at 860 U.S. dollars per ton (CFR Nansha); Film ranges from 960 to 990 U.S. dollars per ton (CFR Huangpu); Transparent is priced at 1000 U.S. dollars per ton (CFR Huangpu); Pipe is priced at 1100 U.S. dollars per ton (CFR Shanghai).