Indonesia Signs Comprehensive Economic Partnership Agreement With the European Union (EU)

Indonesia and the European Union officially signed the "Indonesia-European Union Comprehensive Economic Partnership Agreement" in Bali, Indonesia, on September 23.

The Indonesian Coordinating Ministry for Economic Affairs stated in a declaration that the agreement covers trade liberalization in areas such as goods, services, and investment. In terms of goods trade, both parties have committed to eliminating over 98% of tariff lines and 99% of the total tariff on imports. It is expected that Indonesia's main export products, such as palm oil, coffee, textiles, footwear, and furniture, will benefit from this, and new opportunities are anticipated for high-tech products and digital trade.

The statement said that the Indonesian government's goal is to achieve a 60% increase in exports to the EU through the implementation of the agreement, boosting national income by $2.8 billion. According to Indonesian official statistics, the bilateral trade volume between Indonesia and the EU will reach $30.1 billion in 2024.

Heaven-sent MaterialsIn the announcement, it was stated that on September 22, the wholly-owned subsidiary...Jiujiang Tianci High-tech Materials Co., Ltd.(Jiujiang Tianci hereinafter referred to as)Ruipu Lanjun Energy Co., Ltd.Rui Pu Lan Jun (hereinafter referred to as "Rui Pu Lan Jun") has signed a "Cooperation Agreement." During the validity period of the agreement (from the effective date of this agreement until December 31, 2030), Rui Pu Lan Jun (including Rui Pu Lan Jun's Wenzhou base and its subordinate affiliated companies/bases) will procure no less than 800,000 tons of electrolyte products from Jiujiang Tian Ci.Jiujiang TianciCan be satisfiedRuipulan JunThe monthly maximum demand shall not be less than a supply volume of 20,000 tons. The price of lithium hexafluorophosphate, the core raw material for electrolyte products, shall be determined by both parties through separate negotiation.

Tinci Materials believes that the signing of this agreement is conducive to establishing a long-term and stable cooperative relationship between the two parties, facilitating a close supply-demand linkage in the industry, and achieving long-term mutual benefits and a win-win situation, which aligns with the company's long-term development interests. If fully implemented, this agreement will have a positive impact on Tinci Materials' operating performance from 2026 to 2030. The specific impact amount and timing will be determined based on the implementation of the agreement.Heavenly MaterialsRevenue will be recognized in accordance with the performance of the agreement in the relevant year. The signing of the agreement is conducive to enhancing the company's sustainable profitability, increasing the company's market share, consolidating its leading position in the industry, and aligning with the company's long-term development strategy and the interests of all shareholders.

According to reports, Berkshire Hathaway, under Warren Buffett, has completely sold off its shares in BYD. In response, Yicai called BYD's investor relations department as an investor this morning to inquire, and the representative replied, "It's true, the reduction (by Berkshire) has been ongoing for a long time."

On the same day, BYD Group's Public Relations General Manager, Li Yunfei, responded in a statement, saying that stock investment involves both buying and selling, which is a very normal thing. We appreciate Munger and Buffett for their recognition of BYD, and we also thank them for their investment, assistance, and companionship over the past 17 years. Cheers to long-termism for everyone.

On September 19, according to the Financial Times, U.S. senators are seeking to increase financial pressure on Russia, targeting Moscow's energy exports. A new bill set to be submitted on Friday will significantly expand U.S. sanctions against Russia's "shadow fleet" of oil tankers—since the outbreak of the Russia-Ukraine conflict in 2022, Moscow has been using this fleet to evade Western restrictions on its energy sector. Revenues from these crude oil exports have become one of the sources of funding for Moscow's actions. "Shadow" tankers are often older vessels with hidden ownership information, making enforcement of sanctions more challenging. However, it has been shown that sanctions targeting these vessels themselves are effective. Meanwhile, EU ambassadors are scheduled to hold a meeting on Friday afternoon in Brussels to discuss a new round of sanctions proposed by the European Commission, which targets both Russian oil and gas production.

The U.S. Department of Commerce announced measures against diphenylmethane diisocyanate originating from China.MDIMake a translation of the above content.Anti-dumpingPreliminary affirmative ruling.

In the preliminary anti-dumping ruling announcement, the U.S. Department of Commerce determined that the dumping margin for Chinese MDI is as high as 511.75%. From the date of the preliminary anti-dumping ruling announcement, the U.S. Department of Commerce will instruct U.S. Customs and Border Protection (CBP) to collect temporary anti-dumping duties in the form of cash deposits based on the dumping margins of the relevant involved producers/exporters.