EU Temporarily Suspends Review of ADNOC's Acquisition of Covestro! ExxonMobil Seeks to Exit European Chemical Industry

News Highlights:

Raw Material News-147Billion-euro acquisition blocked! EU suspends review.ADNOCAcquisition of Covestro

Automotive News-Toyota plans to produce electric vehicles in Europe for the first time.

Packaging News-SappiLaunch recyclable high-barrier mono-material paper

Medical News-Precise adaptation and efficient driving:Fraunhofer IWU Developing a therapeutic-grade hand exoskeleton

Macroeconomic News-Germany's factory orders unexpectedly decline, dampening hopes for economic recovery.

Price Information-Ethylene Asia:CFRNortheast Asia840 / CFRSoutheast Asia840 /Ton, increase5 /

The following are details of international news:

1.147Billion-Euro Acquisition Blocked! EU Temporarily Suspends ReviewADNOCAcquisition of Covestro

According to a Reuters report, a source revealed this Wednesday that the EU antitrust regulatorsEU antitrust regulators...is preparing to suspend its cooperation with Abu Dhabi National Oil Company (ADNOC 147100 million euros (equivalent to170The investigation into the bid for the German chemical company Covestro, valued in billions of US dollars, has been temporarily suspended. This temporary halt will give the European Commission more time to gather information about the transaction. The EU's antitrust regulatory body is primarily managed by the European Commission, with its Competition Directorate-General being the main enforcement agency for EU antitrust matters. It is responsible for overseeing market competition within the EU and preventing anti-competitive behavior. The European Commission declined to comment on the suspension of the Covestro acquisition investigation.

2.ExxonMobil seeks to exit the European chemical industry.

Specialized Plastic VisionIt is learned that ExxonMobil (ExxonMobil...is considering the sale of its chemical plants in the UK and Belgium. According to Reuters, the Houston-based petrochemical giant has held preliminary talks with advisers about a possible sale, and the transaction could be worth up to...10billion US dollars.

3.Layoff exceeds3000People! Another oil giant lays off employees.

According to Reuters, five sources from ConocoPhillips revealed that the company will lay off employees.20%~25%Based on the current global workforce size, there will be2600-3250Thousands of employees are facing the risk of unemployment. Following the news, ConocoPhillips' stock price fell.3.9% 95.11USD. ConocoPhillips spokesperson Dennis·NusDennis Nuss) said in response to Reuters:“Most of the layoffs will be completed by the end of the year.”Two sources said that the new organizational structure and management plan will be...9The entire restructuring plan is expected to be announced in mid-month.2026The year is coming to a close. 

4.Precise adaptation and efficient driving:Fraunhofer IWU Creating a therapeutic-grade hand exoskeleton

Fraunhofer Institute for Machine Tools and Forming Technology (IWU) Using innovative shape memory alloys, stepper motors, and3D The printing technology has developed a hand exoskeleton with precise fit and gentle support. The core design concept is that the exoskeleton must first perfectly adapt to the anatomical structure of the hand. Human hands not only differ in size, but also in proportion — even the left and right hands of the same person can have significant differences.3D Selective Laser Sintering in Printing (SLSThe process offers nearly unlimited geometric flexibility. This process uses plastic powder as raw material to build three-dimensional structures through a layer-by-layer stacking method.

5.Versalis VeritasSign an agreement to plan plastic recycling in Venice.

Specialized Plastic Vision9 5According to recent news, the chemical company under Italy's Eni GroupVersalisMajor multi-utility companies in the Italian Venice metropolitan area and Treviso provinceVeritasSign a cooperation agreement to jointly promote the development of a circular economy, with a focus on collaborative development of post-consumer and post-industrial plastic value-added projects. The agreement is signed byVersalisChief Executive OfficerAdriano Alfani VeritasGeneral ManagerAndrea RazziniSigning. Both parties will cooperate to analyze and screen.VeritasThe waste streams and secondary raw materials generated by the facility are evaluated for their suitability.VersalisThe feasibility of the recycling process.

6.Brazil imposes a provisional anti-dumping duty on Chinese polyester staple fiber5Annual highest390.94 /Anti-dumping duty per ton

Recently, the Management Executive Committee of the Brazilian Foreign Trade CommissionGECEX) released2025 778Resolution No. [number], on polyester staple fiber originating in China, India, Vietnam, and Thailand (in Portuguese:fibras de poliésterA final affirmative anti-dumping ruling was made, and it was decided to impose duties on the products involved from the aforementioned countries for a period of5 The anti-dumping duties for the year are as follows: For China, it is74.98－390.94 /Ton, India as194.69 /ton, Vietnam as297.95 / Vietnam New Century Polyester Fibre Co., Ltd.Thailand (no taxation)171.21 / Zhongthai Chemical Fiber Co., Ltd.Not subject to tax), details of taxation are shown in the attached table. The Brazilian tax code for the involved products is5503.20.90This resolution shall come into effect from the date of its promulgation.

7.Toyota plans to produce electric vehicles in Europe for the first time.

On Wednesday, Toyota announced that it will produce a pure electric vehicle at its plant in the Czech Republic, marking the brand's first locally manufactured all-electric model in Europe. At the same time, Toyota also plans to invest in the construction of a brand-new battery assembly facility at the plant. The Japanese automaker has not yet disclosed specific details or the production timeline for the pure electric model, but has made it clear that it will invest approximately...6.8hundred million euros (approximately56.581 billion RMB) to expand its factory located in Kolín. Toyota also pointed out that the Czech government will invest up to6400100,000 euros (approximately5.32RMB 100 million.

8.Southeast Asia5China issues rules of origin, strictly inspecting "origin-washing" and transshipment trade

Affected by Trump 40% The impact of transshipment tariffs has led Southeast Asian countries to strengthen measures including transshipment.transshipment), regional value content (RVC), Rules of Origin (ROO...and the review of imports from China, cracking down on "country of origin laundering"...origin washing) behavior. "Origin laundering" (origin washingTransit trade refers to the practice where goods are transported through a transit country and undergo only minimal processing or repackaging in that country, after which they are re-exported with a new certificate of origin to evade tariffs or non-tariff trade barriers. This practice is often accompanied by the falsification of certificates of origin. Southeast Asian countries have signed trade agreements with the United States (such as Vietnam...).20%Thailand/ /Philippines/Malaysia19%Singapore10%tariff agreements), pledging to enhance supply chain transparency and crack down on "country of origin laundering" (washing the origin of goods)origin washing) behavior.

9.SappiLaunch recyclable high-barrier mono-material paper

Sappi The European company launched itsGuard Pro OHS Guard Pro OMHSingle-material paper, it is said that these two types of paper are recyclable and can provide high barrier protection without sacrificing production efficiency. These new solutions aim to help brand owners meet the increasingly stringent packaging regulations of the European Union, such as the Packaging and Packaging Waste Regulation.PPWR), and provide a paper-based alternative for fast-paced production lines to replace plastic and multilayer composite films.

Overseas Macro Market:

German factory orders unexpectedly declined. [Undermining hopes for economic recovery]

German factory orders7Factory orders unexpectedly fell in (the given) month, dampening optimism that it can quickly emerge from a three-year downturn. The statistics department said on Friday that factory orders declined month-on-month due to a drop in bulk orders.2.9%Economists predict growth.0.5%If bulk orders are not included, there will be growth.0.7%The report highlights the challenges faced by Europe's largest economy, which must seek to break free from prolonged economic stagnation while also coping with the impact of increased US tariffs and the Russia-Ukraine war. Although businesses have become more optimistic that government stimulus measures will revive growth, they still consider the current situation to be difficult.

Indian officials stated that there is no need to be concerned about the delay in reaching a trade agreement with the United States.“ ”】

Indian Minister of Commerce and Industry Goyal stated that negotiations for a trade agreement with the United States should be allowed to continue, and there is no need to be concerned about delays.“ ”Goyal said in an interview with the Asian News International:“We continue to maintain very good relations with the United States, and I am confident that we will be able to resolve some of these issues and reach a fair, just, and balanced agreement.”“Negotiations have never had a timetable.”Goyal added.“You should be patient as you are focusing on the long term.”

The USD/JPY remains on a downward trend. Details of Japan’s investment mechanism in the US have been disclosed: if the Japanese side fails to fulfill its investment commitments, it will face higher tariffs.

The US dollar against the Japanese yen maintains its downward trend, currently reported at148.17According to a report, based on a detailed Japan-US...5500If Japan fails to provide funding for investment projects selected by U.S. President Trump under the multi-billion dollar investment mechanism, it will face the risk of being subjected to higher tariffs. U.S. Secretary of Commerce Lutnick and Japan’s Chief Trade Negotiator Akazawa Ryomasa signed a memorandum of understanding on the investment mechanism in Washington on Thursday.

Price Information:

[RMB to USD Central Parity Rate]

The central parity rate of RMB against USD is reported.7.1064, downgrade12Point; previous trading day's central parity rate7.1052Previous trading day's official closing price7.1402The previous night session closed at7.1401。

[Upstream Raw Material USD Market Price]

Ethylene Asia:CFRNortheast Asia840 / CFRSoutheast Asia840 /ton, increase5 /

Acrylic Northeast AsiaFOBAverage price in South Korea760 / CFRChina Average Price790 /

CIF price of propane in Northeast Asia537-538 /Ton; Butane547-548 /

South China Frozen Goods10Monthly CIF price, propane587-597 / Ton; Butane567-577 /

CFR price of propane in Taiwan region537-538 /ton; butane547-548 /

【LLDPEUS Dollar Market Price

Film:860-910 / CFRHuangpu);

Injection molding950 / CFRDongguan)

【HDPEMarket price in USD

Thin film:910-970 / CFRHuangpu);

Hollow:860 / CFRHuangpu);

Injection molding:870 / CFRHuangpu);

Pipe material:1025 / CFRHuangpu);

【LDPEThe market price of the US dollar

Film:1115 / CFRHuangpu);

Coating:1280 / CFRHuangpu).

【PPUSD market price

Homopolymer:915-965 / CFRHuangpu);

Copolymerization:900 / CFRNansha);

Membrane material:1020 / CFRNansha);

Transparent:955-1050 / CFRHuangpu);

Pipe material:1130 / CFRShanghai).