ExxonMobil has teamed up with Malpack, a Canadian packaging producer specializing in film extrusion, to develop a high-tenacity, power pre-stretch film using ExxonMobil’s newly launched Signature Polymers portfolio. Integration challenge ExxonMobil and Malpack faced the challenge of integrating ExxonMobil’s performance polymers into Malpack’s existing formulations to enhance film performance. The companies said the collaboration led to the development of a new stretch film with high tenacity, strong holding force, and reliable load stability across all pre-stretch levels. A key component of the formulation is Exceed S 1716 metallocene polyethylene (PE), part of ExxonMobil’s Signature Polymers portfolio. Used as a discrete layer within a nine-layer film structure, the resin allowed Malpack to streamline production by eliminating the need for blending, according to the companies. It also delivered strong processing performance on wide, 4.5-meter extrusion lines. According to the companies, Exceed S 1716 maintained high tenacity while offering excellent processability. Compared to Exceed m 3518 metallocene PE processed under the same conditions, the new resin showed only minimal impact on head pressure, motor load, and melt temperature — contributing to efficient and stable film production. The resulting stretch film offers a combination of performance and efficiency designed for demanding packaging applications, according to the companies. Key benefits include: Consistent load stability across all pre-stretch levels, enhancing pallet containment and transport safety; efficient processing on wide-width lines, with stable throughput, reduced motor load, and tight gauge control; high toughness and downgauging potential, allowing for thinner films that maintain strength while using less material; improved clarity and puncture resistance, which aids barcode readability, product presentation, and protection for sharp or irregular loads. ExxonMobil’s Exceed Flow m 1716 polyethylene delivers a combination of high flow and high tenacity — two characteristics typically considered at odds, the companies said, adding that this balance enabled faster line speeds, lower extrusion pressure, and reduced motor load compared with traditional high-tenacity resins. The companies said the result was smoother cast film processing and consistent extrusion performance, opening the door to downgauging opportunities without compromising load stability or holding force — key metrics for stretch film quality. Pushing limits of pre-stretch film design Malpack, which brings more than four decades of experience in film manufacturing, leveraged the Signature Polymers platform to push the limits of pre-stretch film design. The company said the project illustrates how tailored material selection and close collaboration across the value chain can yield tangible gains in both performance and production economics. ExxonMobil said it introduced its Signature Polymers brand to unify its polyolefin offerings under a single identity, aiming to simplify portfolio navigation and foster closer partnerships across the supply chain.

Global energy and chemical industry market information service agencies recently stated that American chemical companies are facing profit contraction due to fluctuations in oil and natural gas prices, while also dealing with issues related to tariffs and economic uncertainty. Analyst Koze Olko stated that the key driving factor behind the rise in U.S. gas prices is the surge in liquefied natural gas (LNG) demand from Europe and the Asia-Pacific region. Due to the strong growth in electricity demand from data centers, U.S. natural gas supply may tighten further. In contrast, oil demand is expected to decline due to accelerated supply growth from non-OPEC producers such as the U.S., Brazil, and Guyana, the rapid adoption of electric vehicles, and a slowdown in economic growth, which may lead to a drop in oil prices. It is estimated that the average price of Brent crude oil will drop by 6.7% in 2025 and by another 7.4% in 2026; the average price of WTI will also drop by 6.7% in 2025 and by another 7.9% in 2026. The cost of chemical raw materials in the United States, especially ethane, will fluctuate with the rise and fall of gas prices. It is estimated that the average price of natural gas in the United States will increase by 66.8% in 2025 and by another 3.9% in 2026. The trends of both will inevitably squeeze the profit margins of U.S. ethylene producers. However, the demand for ethylene is declining. Tariffs have increased the import costs of raw materials used to make catalysts and plastic additives, and the EU and Canada may impose retaliatory tariffs on polyethylene exported from the United States. Peter Huntsman, CEO of U.S. chemical producer Huntsman Corporation, expects that the rebound in the U.S. real estate market may be delayed due to uncertainties over tariffs and mortgage interest rates, and the demand for ethylene from the construction industry will continue to be weak, further exacerbating the instability in the ethylene market.

Introduction: The deepening game of tariffs between China and the US, how does the "tariff war" affect the import volume of EVA from the United States and the photovoltaic industry closely related to EVA? On April 2, local time, U.S. President Trump signed two executive orders at the White House regarding the so-called "reciprocal tariffs," announcing a 10% "minimum baseline tariff" on trade partners. Additionally, Trump will impose personalized higher "reciprocal tariffs" on countries with the largest trade deficits with the U.S., with a 34% reciprocal tariff specifically on China. On April 4, China announced a 34% tariff on all goods imported from the U.S. The tariff policy game between China and the U.S. continues to deepen. What impact will the "tariff war" have on the import volume of EVA from the U.S. and the photovoltaic industry closely related to EVA? 1. The import pattern of EVA changes under the pressure of tariffs. Data source: General Administration of Customs In 2024, the total import volume of EVA was 915,900 tons, down 34.21% year-on-year, hitting a five-year low. China has multiple trade partners for EVA imports, with the United States ranking fifth, accounting for 5.97% of imports. After the imposition of additional tariffs, the cost of importing EVA from the United States has increased significantly, and trade barriers have been significantly upgraded. Under the dual pressures of cost and policy, it is expected that the import volume of EVA from the United States will decrease. This change brings opportunities for China's EVA production enterprises, and the market share of domestic EVA products will further increase. II. "Reciprocal Tariffs" Put Pressure on Photovoltaic Industry From the table above, it can be seen that the United States has imposed "reciprocal tariffs" of 32%, 36%, 46%, and 49% on products from trade partners such as Indonesia, Thailand, Vietnam, and Cambodia. This policy continues the United States' long-standing resistance to Chinese photovoltaics and includes the main photovoltaic manufacturing countries in Southeast Asia under high tariffs. According to data from the U.S. Energy Information Administration (EIA), the total import volume of photovoltaic components in the United States in 2024 is 48.7GW, with Southeast Asia's share dropping to 65%, and China's direct export share rebounding to 12% (about 5.8GW), but the scale of Chinese enterprises transferring through third countries such as Mexico and Turkey reaches 8.3GW, accounting for 17% of U.S. imports. The highest proportion of photovoltaic component imports in the United States is still in Southeast Asia, however, 80% of Southeast Asia's photovoltaic capacity is invested and constructed by Chinese enterprises. EVA, as an important upstream raw material for photovoltaic components, the impact of tariffs on photovoltaic components will indirectly affect EVA products. U.S. "reciprocal tariffs" have taken effect, causing a surge in the cost of imported photovoltaic modules. This has suppressed domestic photovoltaic installation demand in the U.S., leading to a decline in imports from Southeast Asia. At the same time, the capacity of Chinese companies in Southeast Asia has been impacted, and the volume of photovoltaic products transshipped through third countries to the U.S. may be affected. The challenges faced by China's photovoltaic industry in the U.S. market have intensified. Despite the uncertainty in the Sino-US tariff game, the trend of global energy transition towards clean and low-carbon remains unchanged. As long as China's EVA and photovoltaic industries adhere to innovation-driven and open cooperation, they can turn challenges into opportunities in the global energy transformation, achieve high-quality and sustainable development, and contribute Chinese strength to the global clean energy cause.

[Policy Background] On April 2, 2025, the U.S. government announced the imposition of "reciprocal tariffs" on Chinese goods imported into the United States. On April 4, 2025, the State Council Tariff Committee issued an announcement that starting from 12:01 on April 10, 2025, tariffs would be imposed on imported goods originating from the United States. The relevant matters are as follows: 1. An additional 34% tariff will be imposed on all imported goods originating from the United States based on the current applicable tariff rates. 2. The current bonded and preferential tax policies remain unchanged, and the additional tariffs imposed this time will not be exempted. 3. For goods that have been shipped from the place of departure before 12:01 on April 10, 2025, and are imported between 12:01 on April 10, 2025, and 24:00 on May 13, 2025, the additional tariffs stipulated in this announcement will not be imposed. The import of raw materials from the United States into China, subject to a 34% tariff, will have multi-faceted effects on domestic metallocene polyethylene. 1. Supply gap and price increase According to********statistics, North America is currently the world's leading producer of metallocene polyethylene, followed by Southeast Asia and Northeast Asia. In the North American and Southeast Asian production areas, ExxonMobil has a higher capacity share, followed by Dow; in the Northeast Asian production area, South Korea and China have leading capacities, but China's effective capacity is low, and regional supply shortages often rely on imports. North America is a resource-exporting region, with the United States having the largest export volume. According to statistics, the production capacity of polyethylene in the US is close to 7 million tons, and its products are mainly exported to South America, Southeast Asia, and China. According to a survey by Longzhong Information, imports from the US account for about 25% of China's polyethylene imports. In the short term, the rise in import costs from the US will have a certain impact on domestic polyethylene prices. The imposition of tariffs will directly increase the price of its products in the Chinese market, weakening their competitiveness. 2. Adjustment of Import Structure and Acceleration of Domestic Production Currently, China's imports of polyethylene from Majors mainly come from Singapore, Thailand, the Middle East, South Korea, and the United States. In the future, with the increase in import costs from the United States, the proportion of imports from other production areas will rise accordingly. In 2025, the ExxonMobil Huizhou facility will commence production, which will replace imports from Singapore and North America. Resources from North America and Singapore, aside from self-use, will flow to Europe and other countries. Additionally, as Singapore serves as a major transshipment hub, some goods from the Middle East and North America are stored and transshipped in this area; in the future, with the increase in import costs from the United States, the transshipment proportion in Singapore will also rise. Domestic companies (such as Sinopec, CNPC, and private enterprises) have already entered the production of metallocene polyethylene, but the capacity remains limited (in 2024, the domestic share was less than 30%). Tariff policies will encourage local companies to join the production of metallocene polyethylene, but technical barriers (such as severe product homogenization and a single product range) may slow down the substitution rate. 3. Increased costs of downstream raw materials and terminal products Based on the earlier situation of the United States imposing additional tariffs, the 10% tariff increase starting from March 4th in the United States mainly involves plastics products under Chapter 39 of the United States Harmonized Tariff Schedule (HTS), including plastic daily necessities such as storage boxes, children's toys, and bathroom products. According to statistics, in 2024, the proportion of China's export volume of plastic products to the United States in the total export volume fell to 20.48%, and the proportion of export value fell to 21.28%. After the United States imposed additional tariffs, the overall trend of China's plastic products export value to the United States will continue to decline. Domestic metallocene polyethylene is mainly used in agricultural film, food and daily chemicals, floor heating pipes, industrial packaging and other fields. Imported metallocene polyethylene is mostly used in high-end film fields, where the proportion of imported metallocene added in single material films is relatively high, leading to an increase in raw material costs and export costs, resulting in a significant reduction in enterprise profits, forcing downstream companies to accept high prices or seek alternative raw materials. Overall, the impact of US tariff increases on China's market for metallocene polyethylene products is multi-faceted. The rise in import costs from North America will inevitably lead to changes in global trade patterns. Currently, China imports most of its metallocene polyethylene from Southeast Asia and the Middle East. In recent years, imports of metallocene polyethylene from North America have been decreasing, so the impact of tariff increases on China is limited. In the short term, domestic high-end polyolefin products are still in the process of breaking through the "chokepoint," and complete substitution of imports will require time. However, the startup of the Exxon plant in Huizhou will reduce the import cost of China's metallocene polyethylene, easing the cost pressure on downstream enterprises. Although it will have some impact on the supply of China's metallocene polyethylene market in the short term, from a long-term perspective, it also provides an opportunity for the restructuring and transformation and upgrading of China's metallocene polyethylene industry.

On April 4, the State Administration for Market Regulation of China announced that DuPont China Holding Co., Ltd. is being investigated for suspected violations of the Anti-Monopoly Law of the People's Republic of China. The market regulation authority has initiated a formal investigation against DuPont China Holding Co., Ltd. in accordance with the law. The specific reasons are still unknown, but against the backdrop of China's strong emphasis on foreign investment, the investigation into DuPont China may highlight China's determination to create a fairer market environment or have profound effects on the operating models of multinational companies in China. It is reported that DuPont established its office in Beijing in 1984 and set up its first wholly foreign-owned enterprise, DuPont China Group Limited, in Shenzhen in 1988, becoming the first wholly foreign-owned investment company approved by the Chinese government. It is reported that by 2025, DuPont will have more than 40 wholly-owned and joint ventures in China, covering the entire industrial chain from basic chemical materials to high-end automotive and electronic solutions. Some of the core brands mainly include: Kevlar®: para-aramid fiber, mainly used for protective equipment, industrial and technological applications, and sports equipment. Nomex®: meta-aramid fiber, whose needle-punched products are mainly used as high-temperature filtration materials and insulation materials; Tyvek®: A 100% high-density polyethylene nonwoven fabric produced using flash-spun technology, featuring waterproof, breathable, tear-resistant, and eco-friendly recyclable properties. It has a smooth surface suitable for printing and is used in medical, industrial, and active packaging applications. Cyrel®: Focused on flexographic printing solutions, especially optimized printing plates for UV-LED technology. Artistri®: Water-based digital printing inks covering textiles, packaging, and commercial printing; Corian®: artificial stone material; Tedlar®: Polyvinyl fluoride (PVF) film, used in photovoltaics, etc. MOLYKOTE®: Special Lubricating Oil; Liveo™: Silicone elastomers, silicone skin adhesives, transdermal adhesives and other silicone applications; Solamet®: Photovoltaic conductive paste However, in terms of popularity, apart from nylon and aramid, DuPont also has globally leading products such as Dupont™ Teflon (polytetrafluoroethylene), Riston™ (dry film photoresist technology), Kapton® (high-temperature resistant polyimide film), Pyralux® (polyimide flexible circuit materials), Kalrez® (perfluoroelastomer seals), and Delrin® homopolymer acetal. DuPont's base layout in China is centered around the Yangtze River Delta (Shanghai, Jiangsu, Zhejiang) and the Pearl River Delta (Guangdong), radiating nationwide. Among them, the most well-known is the DuPont Zhangjiagang base, located in the Yangtze River International Chemical Industrial Park of Zhangjiagang Free Trade Zone. The products include Zytel® nylon engineering plastics, Delrin® homopolymer formaldehyde resin, Hytrel® thermoplastic polyester, Multibase thermoplastic elastomer (TPE), lubricants, and special organic silicone materials. It has also established the Zhangjiagang adhesive integration project, with the main products being adhesives and related materials. BETAFORCE™ TC thermally conductive adhesive and BETATECH™ thermally conductive gap filler—supporting battery thermal management in hybrid and electric vehicles during charging and operation. (2) BETAFORCE™ Composite Adhesive - For Battery Sealing and Assembly; (3) BETAMATE™ Wide Bake Temperature Adhesive and Structural Adhesive – Used for automotive body structures and battery bonding, it enhances the vehicle's crash resistance and reduces the weight of the body structure. Adhesives play a pivotal role in the automotive industry. According to data from the China Adhesives and Tape Industry Association, the adhesive usage per vehicle in new energy vehicle power battery assembly (including PACK sealing, structural thermal conduction, structural bonding, BMS protection, cell bonding, battery potting, thread locking, and shell bonding) will reach approximately 5 kilograms. Additionally, automotive electronics (such as power inverters, control modules, displays, reverse radar systems, etc.) are another major application area for adhesives. Among these, thermal conductive adhesives are particularly important—the greater the computational demand, the higher the thermal conductivity requirements, and the more thermal conductive adhesive is used. In addition to being placed under investigation, on the same day, April 4th, the Tariff Policy Committee of the State Council issued an announcement to impose an additional 34% tariff on all imported goods originating from the United States, based on the existing applicable tariff rates. DuPont, which owns many market-leading products, will also be affected. In 2024, DuPont's total net sales were $12.386 billion (approximately 90.5 billion yuan), with the Greater China region accounting for 18% of the revenue. Given the importance of this market, how will DuPont China respond to the current crisis?

China's countermeasures are here! Today, in response to the US government's announcement of imposing "reciprocal tariffs" on Chinese goods imported to the US, China has issued countermeasures. The State Council's Tariff Commission announced that all imports originating from the United States will have an additional 34% tariff imposed on the current applicable tariff rates. In addition, the Ministry of Commerce and the General Administration of Customs have taken six coordinated actions, including adding 16 US entities to the export control management list, implementing export controls on medium and heavy rare earth items, suspending the import qualification of products from six US companies, adding 11 US companies to the unreliable entity list, initiating an investigation into the competitiveness of the import of medical CT tubes, and filing a lawsuit against the US "reciprocal tariffs" at the World Trade Organization. Impose an additional 34% tariff on all imported goods originating from the United States on top of the currently applicable tariff rates. On April 2, 2025, the US government announced that it would impose "reciprocal tariffs" on Chinese goods exported to the US. The US approach does not conform to international trade rules, seriously damages China's legitimate rights and interests, and is a typical unilateral bullying practice. In accordance with the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, and other laws and regulations, as well as the basic principles of international law, with the approval of the State Council, the Tariff Committee of the State Council has decided to impose additional tariffs on imported goods originating from the United States starting from 12:01 a.m. on April 10, 2025. The relevant matters are as follows: 1. An additional 34% tariff will be imposed on all imported goods originating from the United States, based on the current applicable tariff rates. The current bonded and tax reduction/exemption policies remain unchanged, and the tariffs imposed this time will not be reduced or exempted. Goods that have been shipped from the place of departure before April 10, 2025, at 12:01 PM and imported between April 10, 2025, at 12:01 PM and May 13, 2025, at 11:59 PM will not be subject to the additional tariffs imposed by this announcement. Export controls on certain medium and heavy rare earth-related items Ministry of Commerce and General Administration of Customs Announcement No. 18 of 2025, announcing the decision to implement export controls on some medium and heavy rare earth-related items. A spokesperson for the Ministry of Commerce answered questions from journalists about the implementation of export controls on medium and heavy rare earth-related items, stating that in accordance with the "Export Control Law of the People's Republic of China" and other relevant laws and regulations, on April 4, the Ministry of Commerce, together with the General Administration of Customs, issued an announcement on the implementation of export control measures for 7 categories of medium and heavy rare earth-related items such as samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which will be formally implemented from the date of publication.   The Ministry of Commerce has added Scideate Company and 11 other U.S. companies to the unreliable entity list. The Ministry of Commerce today (4th) announced the inclusion of 11 American companies, including Skydio, in the unreliable entity list work mechanism. In order to safeguard national sovereignty, security, and development interests, and in accordance with relevant laws such as the "Foreign Trade Law of the People's Republic of China," the "National Security Law of the People's Republic of China," and the "Anti-Foreign Sanctions Law of the People's Republic of China," the unreliable entity list work mechanism, based on Article 2, Article 8, and Article 10 of the "Regulations on Unreliable Entity List," has decided to include Skydio and other 10 entities in the unreliable entity list and implement the following measures: I. Prohibition of the aforementioned enterprises from engaging in import and export activities related to China; 2. Prohibit the aforementioned enterprises from making new investments within China. Any matters not addressed in this announcement shall be carried out in accordance with the provisions of the Unreliable Entity List. This announcement will be implemented from the date of publication. The 11 U.S. entities listed on the Unreliable Entity List 1. Skydio Inc. BRINC Drones, Inc. Red Six Solutions Company Senix Company (SYNEXXUS, Inc.) 5. Firestorm Labs, Inc. 6. Kratos Unmanned Aerial Systems, Inc. 7. Havoc Artificial Intelligence Company (HavocAI) 8. Neros Technologies 9. Domo Tactical Communications 10. Rapid Flight LLC 11. Insitu, Inc. General Administration of Customs: Suspends the export qualifications of six U.S. companies involved in the incident to China The General Administration of Customs today issued announcements No. 54 and No. 55, deciding to suspend the import qualification of sorghum from one U.S. related company, the import qualification of poultry meat and bone meal from three U.S. related companies, and the import qualification of poultry meat products from two U.S. related companies, in order to protect the health of Chinese consumers and ensure the safety of China's livestock production due to the inspection and quarantine issues of the related imported products. The Ministry of Commerce: 16 American entities are included in the export control management list. In order to safeguard national security and interests, and fulfill international obligations such as non-proliferation, according to the relevant provisions of the "Export Control Law of the People's Republic of China" and the "Regulations on the Export Control of Dual-Use Items and Technologies" and other laws and regulations, the Ministry of Commerce has announced a decision to include 16 American entities in the export control management list, prohibiting the export of dual-use items to them. These entities may engage in actions that endanger China's national security and interests, and no exporter may violate the above regulations. Ministry of Commerce Spokesperson's Response to Media Inquiry on the Initiation of an Industrial Competitiveness Investigation into Imported Medical CT Tubes Commerce Ministry spokesperson answers journalists' questions on industrial competitiveness investigation into imported medical CT tubes. A reporter asked: We have noticed that the Ministry of Commerce website issued an announcement to initiate an industrial competitiveness investigation on imported medical CT tube assemblies. Could you provide some information on the relevant situation? Answer: This investigation was the first industrial competitiveness investigation initiated by the Ministry of Commerce in response to an application from the domestic industry. According to Article 36 of the "Foreign Trade Law of the People's Republic of China," the Ministry of Commerce may conduct investigations into the impact of imports on the domestic industry and its competitiveness. The preliminary evidence submitted by the applicant shows that the Chinese medical CT tube industry started relatively late and is in the development stage. The domestic industry faces difficulties in operations due to the impact of imported products, and its competitiveness is adversely affected. Based on this, the applicant requests the Ministry of Commerce to investigate the impact of imports on the domestic industry and its competitiveness. I would like to emphasize that the industrial competitiveness survey is a factual investigation. This survey is not aimed at specific countries and regions, and it does not affect normal trade. The investigating authority will fully protect the rights of all interested parties and conduct the investigation objectively and fairly according to the law.

Covestro is committed to sustainable solutions in the agricultural field and has developed solar dryers made of polycarbonate specifically to support Ethiopian coffee farmers during the harvest season. The project, implemented in cooperation with GIZ GmbH, aims to assist people in vulnerable regions worldwide through simple yet effective technology. Coffee is one of Ethiopia's most important trade commodities, providing livelihoods for many smallholder farmers. However, climate change—such as rising temperatures and irregular rainfall—has significantly impacted coffee cultivation. Coffee yields are declining, and plants are becoming more susceptible to pests and diseases. It is within this context that the Covestro and GIZ project was initiated, aiming to make coffee production more efficient and resilient. To achieve this goal, Covestro supported the development of a solar dryer—a parabolic structure similar to a greenhouse but with better control over temperature and humidity. Unlike glass, this dryer uses lightweight, transparent, and thermally insulating polycarbonate multiwall panels, which also provide UV protection. This technology enables rapid and hygienic drying of coffee while protecting the harvested beans from rain, pests, and mold. GIZ supports this project as part of the German development program develoPPP, which promotes sustainable initiatives in developing and emerging countries. The goal is to combine private sector participation with development policy objectives to achieve long-term economic and social benefits. "Solar energy greenhouse dryers significantly shorten the drying time of washed coffee and naturally processed coffee. This enables farmers to process coffee more efficiently and bring it to market more quickly. Additionally, the closed environment of the dryer protects coffee beans from contamination, improving quality and reducing waste. Local cooperatives have regarded this innovation as a valuable asset in their coffee production," explained Dr. Helene Widmer, GIZ project manager. "Our collaboration with Covestro demonstrates how innovative material technology can contribute to stabilizing agriculture." Pejman Norastehfar, Head of Inclusive Business for Covestro in the EMEA region, added: "The successful implementation of solar dryers impressively demonstrates the positive impact of innovative and sustainable technologies on the coffee industry. We are proud to collaborate with GIZ and local cooperatives to provide a solution that not only increases efficiency but also improves coffee quality and shelf life. With our solution, we can help address climate change challenges on the ground." So far, Ethiopia has installed six solar dryers, and the project is still progressing. One of Ethiopia's largest coffee roasters has taken notice of the solar dryers and has purchased four additional units for its own production, which are currently being installed.  

Local timeOn April 2, U.S. President Donald Trump signed two executive orders on so-called "reciprocal tariffs" at the White House, announcing that the United States will establish a 10% "minimum benchmark tariff" on trade partners and impose higher tariffs on certain trade partners. It is worth noting that Trump launched a series of actions against China during his first term.The "trade war" has resulted in an average tariff increase on China of about 20%. At the beginning of his second term, in March, an additional 20% tariff was imposed, and considering the 34% increase added early this morning, the current average tariff level imposed by the United States on China is over 75%. This marks a formal shift in U.S. trade policy towards China from competition to comprehensive containment. This policy, through a cumulative mechanism, enhances the suppression effect, but it will also face backlash risks such as the cost of supply chain restructuring and rising inflation. China will counter the tariff impact through industrial chain upgrades and multilateral cooperation, and the global trade pattern is inevitably entering a period of deep adjustment. We observe the export structure of American energy and chemical products to China and find that the most exported energy and chemical products from the US to China include: propane andPolyethylene。 U.S. propane prices (withThe MB price (based on which) has been consistently lower than the Middle East's CP price in the long term, coupled with the increase in production brought about by the shale gas revolution, making it significantly more price competitive. Furthermore, the expansion of U.S. propane export terminals has further supported the quantity of its exports to China. Despite the fact that during the Sino-U.S. trade friction in 2018, China imposed a 26% retaliatory tariff on U.S. propane, resulting in a sharp decrease in import share from 25% in 2017. However, after the tariff exemption in 2020, U.S. propane exports to China quickly rebounded. In 2024, U.S. propane exports reached a record high of 1.8 million barrels per day, the highest level since data collection began in 1973, mainly due to new P projects in China.DHThe demand for propane from the equipment has significantly increased. In 2024, China imported propane.2%From the United States, followed by Iran (17%), Qatar (7%), and the UAE (3%). Additionally, another major category of chemical products that China imports from the United States in significant quantities is polyethylene (see the figure below).In 2024, China's import of polyethylene is approximately 13.85 million tons, of which about 2.4 million tons are imported from the United States, accounting for more than 10% of imports from the US.7%In comparison, the proportion of polyethylene imported from Saudi Arabia is16.9%。 The United States possesses abundant and low-cost ethane resources, giving it a strong competitive advantage in terms of production costs. Building on this, the U.S. has been continuously expanding its polyethylene production capacity, particularly—From 2022 to 2023, the United States has seen the commissioning of multiple new production capacities. According to statistics from consulting agencies, in 2024, the total polyethylene (PE) capacity in the United States region reached 28.171 million tons, significantly increasing the local polyethylene supply. To absorb this supply increase, the United States actively increased its polyethylene export volume. According to statistics from 2024, the net export volume of polyethylene in the North American region will approach 1.200Ten thousand tons, making the United States the world's largest exporter of polyethylene. Category-wise, the most imported polyethylene category from the United States is standard products.LLDPE accounts for 21% of the imported LLDPE; followed by HDPE, with imports from the United States accounting for more than.17%For the above content, translate it from Chinese to English and output the translation result directly without any explanation.For HDPE products, the resources in the United States are known for being of medium quality and low price. Therefore, if countermeasures are initiated against relevant varieties, the impact on the market will be relatively significant. After the announcement of the additional tariff, domesticallyPEThe futures market remained calm, as of the time of this report.PE2509Contract Report7648The translation of the Chinese phrase "****" into English is "increase" or "rise".0.21%；PP2509 contract reported 7332Increase in price0.05%。 From the perspective of market trends, the impact of high tariffs on the demand side is limited; capital is expecting possible domestic countermeasures, and in combination with the migration and rollover of the main contracts, the far-month contracts.09The contract's price performance remains relatively strong. Author: Gao Xing, Senior Market Analysis Expert

International News Digest:Raw Material News - Shell Completes Sale of Refining and Chemical Assets in SingaporeKorean KG Mobility Teams Up with Chery Automobile to Develop Mid-to-Large-Sized SUVPackaging News - 9 million tons of plastic pressure, Vietnam's 870 trillion beverage market faces green packaging transformation!Exhibition Highlights - The RePlast Eurasia Expo will be held in Turkey in May, gathering pioneering forces in the plastic recycling industry.Equipment News - Swiss Auto Injector Manufacturer Invests $220 Million to Build Factory, Entering the U.S. Auto Injection Equipment MarketMarket News - Brazilian Congress Plans to Draft Legislation to Counter Unilateral Trade ActionsMarket Price News - Ethylene Asia: CFR Northeast Asia $855/ton; CFR Southeast Asia $920/ton Here is the translated content:The following is an overview of international news:Shell completes sale of Singapore refining and petrochemical assetsOn April 1, Shell announced that it had completed the sale of its Singapore Energy and Chemicals Park to a joint venture formed by Glencore and Indonesian chemical manufacturer PT Chandra Asri Pacific. Specific financial details were not disclosed. Shell announced the transaction on May 8, 2024. The Singapore Energy and Chemicals Park includes refining and chemical assets located on Pulau Bukom and Jurong Island. The assets on Pulau Bukom include a refinery with a capacity of 237,000 barrels per day, which was established in 1961, and an ethylene cracker with an annual capacity of 1.1 million tons.2. BASF Launches New High-Temperature Nylon Product!Recently, BASF has further expanded its Ultramid® Advanced T1000 series products for durable components requiring special thermal management. This product series is developed based on polyamide 6T/6I resins, and the latest additions include optimized products with high hydrolysis resistance (HR) and high purity (EQ, or electronic grade). The newly developed HR and EQ grades exhibit excellent high strength and high rigidity at elevated temperatures, while also demonstrating outstanding creep resistance and good compatibility with coolants. Their overall performance significantly surpasses that of standard polyamide grades and many other PPA products available on the market.3. In May, the RePlast Eurasia Exhibition will land in Turkey, bringing together pioneering forces in the plastic recycling industry.RePlast Eurasia, as Turkey's first and only exhibition focused on the plastic recycling industry, holds a unique position in the industry. From May 8 to 10, 2025, the exhibition will once again gather leading brands and authoritative experts from the global recycling field. The event is jointly organized by Tuyap and the PAGCEV Association, dedicated to showcasing cutting-edge technological innovations in every aspect of the plastic recycling process. During the exhibition, visitors will have the opportunity to explore hundreds of products and service types, including raw materials, equipment (including advanced waste sorting equipment), recycling technologies, collaboration resources from waste collection and sorting companies, professional design agencies, and consulting services.4. The United States has made a final ruling on the anti-dumping and countervailing duties for epoxy resin, with the dumping margin for Chinese producers/exporters at 354.99%.On March 31, 2025, the U.S. Department of Commerce issued an announcement, making the final ruling on anti-dumping duties for epoxy resins imported from China, India, South Korea, Thailand, and Taiwan, China. Due to the lack of participation in the response from Chinese enterprises, the dumping margin for producers/exporters from China was determined to be 354.99%, while for producers/exporters from India it was 12.69%-15.68%, for those from South Korea it was 5.62%-7.59%, for those from Thailand it was 5.25%, and for those from Taiwan, China it was 10.93%-26.98%.5. Korea's KG Mobility Collaborates with Chery Automobile to Develop Mid-to-Large SUVsOn April 2nd, it was reported that South Korean automaker KG Mobility announced today that it held a joint development signing ceremony for mid-to-large SUV models with Chery Automobile in Wuhu, Anhui yesterday. The two parties will strengthen technical cooperation to promote future development. This signing ceremony follows the strategic partnership and platform licensing agreement signed with Chery in October last year, marking a concrete plan for substantive collaboration. Both sides will jointly develop mid-to-large SUVs for domestic and international markets and enhance cooperation in areas such as autonomous driving and software-defined vehicle E/E architecture (electrical/electronic hardware and software, etc.).6. Plastic Parts manufacturer Pittsfield Plastics installs a 1600-ton injection molding machine to produce PE parts.Injection molder Pittsfield Plastics Engineering (PPE) has announced the installation of a new 1,600-ton Jupiter 14000 injection molding machine from Absolute Haitian Corp. for large-part molding. The press, along with associated robotics and auxiliary equipment, will allow PPE to meet the needs of its latest customer, a manufacturer of septic products and services for the residential and commercial sanitation waste industry.7. Swiss automatic injector manufacturer invests $220 million to build a factory, entering the U.S. automatic injection molding equipment market.SHL Medical, a syringe manufacturer based in Switzerland, officially opened its most advanced new manufacturing plant in North Charleston, South Carolina. SHL Medical stated that the expansion, first announced in summer 2022 with an investment of $220 million, contributed to the local economy and created hundreds of new jobs in the area.8. 9 million tons of plastic pressure, Vietnam's 870 trillion beverage market faces green packaging transformation!The Vietnam Beer-Alcohol-Beverage Association (VBA) highlights that packaging plays a pivotal role in the modern economy by safeguarding products throughout the complex supply chain from production to consumption. It serves as a vital medium for brand communication and is crucial to the efficiency of the entire production and consumption system. Particularly for an economy like Vietnam, which boasts robust exports and strong domestic demand, the healthy development of the packaging industry holds strategic significance. Data from Nguyen Thanh Giang, General Director of Tetra Pak Vietnam, indicates the packaging industry's immense growth potential: Vietnam's food and beverage sector is projected to achieve a compound annual growth rate (CAGR) of 10.3% by 2027, with the market size reaching 872.9 trillion Vietnamese dong. This powerful market momentum not only demands expanded production capacity in the packaging industry but also raises higher expectations for innovation, functionality (such as aseptic preservation), design, and sustainability. Overseas macro market information:【Brazilian Congress Proposes Bill to Counter Unilateral Trade Actions】 On April 1 local time, the Economic Affairs Committee of the Brazilian Senate unanimously passed a proposal titled the "Economic Reciprocity Bill," aimed at authorizing the Brazilian government to take countermeasures when its foreign trade interests are harmed. Since this bill adopts a fast-track mechanism, it will bypass a full Senate vote and be directly submitted to the House of Representatives for deliberation.【Tesla European Sales Plunge】 Tesla electric vehicles have seen a sharp decline in sales in several European markets due to dissatisfaction with CEO Elon Musk and a boycott of his company's products, as well as reduced appeal after being on the market for many years. According to a report by Agence France-Presse on April 1, data from the French automotive manufacturer and sales platform showed that in March, Tesla's sales in France fell by 36.8% year-on-year amidst a slight dip in the overall French electric vehicle market. Swedish data indicated that Tesla's sales in March dropped by 63.9% year-on-year, and by 55.2% in the first quarter. In Denmark, Tesla's sales in the first quarter declined by 56% year-on-year.Goldman Sachs: Downgrades forecast for 10-year Japanese government bond yield by the end of 2025 to reflect U.S. recession risks; yen is the preferred tool to hedge against U.S. recession and tariff risks. Goldman Sachs' research team stated in a report that it has lowered its forecast for the 10-year Japanese government bond yield by the end of 2025 from the previous 1.60% to 1.50% to reflect the increased risk of a U.S. economic recession. Goldman Sachs noted that the rising risk of such an outcome may affect market pricing of the Bank of Japan's continued tightening policy. Goldman Sachs stated: "The downward trend in the stock market and relatively low U.S. economic growth also tilt the risks towards a stronger yen."Goldman Sachs expects the yen to strengthen to the lower end of the 140 zone against the dollar this year, as concerns around US growth and trade tariffs will boost demand for the yen. It believes that if the risk of a US economic recession increases, the yen will be the best hedge for investors.On April 1st local time, the Mexican government issued a statement saying that President Sheinbaum held his first telephone conversation with new Canadian Prime Minister Carney on the same day, during which both sides reached a consensus on the importance of maintaining economic competitiveness in North America. The statement noted that the leaders of the two countries agreed to continue dialogue to promote the process of regional economic integration while respecting the sovereign rights of member states. The Canadian government's statement described the leaders' call as productive, stating that Canada and Mexico are committed to deepening trade relations and jointly building a stronger economy.【Japanese Rice Prices Hit 12th Straight Week of Record Highs, Average Price per Bag Exceeds 200 Yuan】Latest statistics from Japan’s Ministry of Agriculture, Forestry and Fisheries show that the average price of a 5-kilogram bag of regular rice in Japan is 4,197 yen (approximately 204 yuan RMB), which is about twice the price of the same period last year, marking 12 consecutive weeks of record highs. Japanese Prime Minister Shigeru Ishiba stated on April 1st that if necessary, the government will release more reserve rice into the market to stabilize prices.【Canada to Avoid Tariff Retaliation That Could Affect Domestic Jobs and Drive Up Prices】 Canada will refrain from implementing tariff countermeasures that could impact domestic employment and increase prices, according to two federal trade advisors. The country will not impose retaliatory tariffs on most U.S. food products and other essential goods.Finland has announced that it will completely shut down coal-fired power plants this spring. On April 1, the Finnish government stated that as two energy companies gradually close all coal-fired power plants, Finland will fully stop using coal in energy production this year. The Finnish government indicated that in the future, energy companies will rely on electric boilers, heat pumps, energy storage, biomass energy, and waste heat recovery to produce thermal energy, while the focus of electricity generation will shift to wind, nuclear, hydro, and solar energy.【MOFCOM Extends Anti-Dumping Investigation on Imported Brandy from EU to July 5】 In accordance with the provisions of the "Regulations of the People's Republic of China on Anti-Dumping," on January 5, 2024, MOFCOM issued Announcement No. 1 of 2024, deciding to initiate an anti-dumping investigation into imported brandy originating from the EU. On December 25, 2024, MOFCOM issued Announcement No. 59 of 2024, deciding to extend the investigation period to April 5, 2025. Given the complexity of this case, in accordance with Article 26 of the "Regulations of the People's Republic of China on Anti-Dumping," MOFCOM has decided to further extend the investigation period to July 5, 2025. Price information:【The central parity rate of the renminbi against the US dollar was下调18 basis points.】Note: It seems there is a missing word in the original Chinese sentence. The correct sentence should be "【人民币兑美元中间价下调18个基点】". The translation provided is the closest accurate representation given the context, but typically it would be phrased as "The central parity rate of the renminbi against the US dollar was下调18 basis points." or more naturally, "The central parity rate of the renminbi against the US dollar was adjusted down by 18 basis points."The central parity rate of the yuan against the US dollar was set at 7.1793, down by 18 basis points. The previous trading day's central parity rate was 7.1775, the official closing rate was 7.2687, and the overnight rate closed at 7.2706.Upstream raw material USD market priceEthylene Asia: CFR Northeast Asia $855/ton; CFR Southeast Asia $920/ton.Propylene Northeast Asia: FOB Korea average price 800 USD/ton; CFR China average price 820 USD/ton, down 5 USD/ton.North Asia frozen cargo CIF price, propane $627-629 per ton; butane $617-619 per ton.The onshore price for South China frozen goods in April is as follows: propane 627-629 USD/ton; butane 617-619 USD/ton.The landed price of frozen goods in the Taiwan region: propane $627-629 per ton; butane $617-619 per ton.【LLDPE U.S. Dollar Market Price】Film: $955/ton (CFR Huangpu);Injection molding: 1010 USD/ton (spot in Dongguan bonded area);【HDPE US Dollar Market Price】Film: $940-950 per ton (CFR Huangpu).Hollow: $890-965/ton (CFR Huangpu)Injection molding: $825/ton (CFR Huangpu).LDPE USD Market PriceFilm: $1120/ton (CFR Huangpu), down $15/ton;Coating: $1360 per ton (CFR Huangpu).PP USD Market PriceAverage concentration: 935-990 USD/ton (spot), down 5 USD/ton;Co-polymer: $995-$1060/ton (CFR Huangpu spot)Film material: 1030-1105 USD/ton (CFR Huangpu);Transparent: $1020-$1050 per ton (CFR Huangpu spot);Tubing: $1,160 per ton (CFR Shanghai).

Summary: Summary of April 2 plastic market general materials and engineering materials prices and forecasts! General materials show mixed trends, with limited improvement in supply and demand; polyethylene prices fluctuate slightly; PP sees a minor increase; PVC market falls by 10-20; ABS market fluctuates with increases and decreases, with a maximum increase of 250; PS and EVA markets fluctuate weakly and steadily. Most engineering materials remain stable, with PC seeing individual increases of 25-50; polyester chip prices drop by 10-20; POM sees the highest decrease of 150; PBT market centers weaken with fluctuation, with individual decreases of 50; PA6 market price increases by 50-200; PA66 and PMMA operate in a stalemate. General MaterialsPE：Market demand is limited, and the price of polyethylene fluctuates.1 Today's SummaryOn April 1st, the market focus shifted from sanctions on oil-producing countries to the U.S. tariff hike policy, with concerns that the demand outlook would be dragged down, leading to a fall in international oil prices. The NYMEX crude oil futures contract for May fell by $0.28 per barrel to $71.20, a decrease of 0.39% from the previous day. The ICE Brent crude oil futures contract for June, after the rollover, fell by $0.28 per barrel to $74.49, a decrease of 0.37% from the previous day. China's INE crude oil futures main contract 2505 rose by 11.6 yuan to 549 yuan per barrel, and during the night session, it increased by 4.3 yuan to 553.3 yuan per barrel.Today, the HDPE market price has been adjusted by 2-6 yuan/ton; the LDPE market price has risen slightly by 2 yuan/ton; the LLDPE market price has decreased slightly by 7 yuan/ton.2 Spot OverviewTable 1 Summary of Domestic Polyethylene Closing Prices (Unit: Yuan/Ton)Today, the domestic polyethylene spot market prices showed mixed trends. HDPE spot market prices made slight adjustments of 2-6 yuan/ton. Some maintenance and production changes led to a slight tightening of supply, but overall market demand remains limited, with end users showing clear resistance to high-priced resources, resulting in mainly minor price fluctuations. LDPE spot market prices rose slightly by 2 yuan/ton, with relatively stable LDPE supply and some improvement in downstream demand, leading to a slight increase in market quotations. LLDPE spot market prices fell slightly by 7 yuan/ton, with overall supply pressure in the market being significant, and no apparent improvement in downstream demand. Market participants are lacking confidence and are mostly maintaining active sales, resulting in continuous slight price declines.3. Price PredictionWith the approach of the Qingming long weekend, merchants maintain an active attitude towards selling goods. Supply pressure remains, so the price levels for most grades are still low. In the short term, with expectations of increased production from new facilities such as Exxon and Inner Mongolia Baofeng, terminal inquiries may target even lower prices. As a result, traders might be forced to offer discounts; however, strong cost support will remain. After low-end transactions pick up, it will provide market confidence, leading prices to likely remain in a narrow range at a low level. PP： Macro利好支撑 Polypropylene prices rise slightly1 Today's Summary① Sinopec Central China PP part adjusted downward: Luoyang wire drawing 7300, M18 to 7300; Zhonghan 8009 to 7600; Zhongyuan MT35 to 8050, MT75N to 7550.② Today, the domestic polypropylene shutdown impact decreased by 1.64% to 17.08%. Details of today's domestic PP maintenance facility changes: Zhongjing Petrochemical Phase II Line 2 (600,000 tons/year) PP facility has restarted. The daily production ratio of injection molding dropped by 2.08% to 25.41%, mainly due to the second line of Sinochem Quanzhou being switched to produce other products.This week (March 21-27, 2025), the supply and demand gap has narrowed significantly to 35,100 tons, mainly due to an increase in plant maintenance leading to a notable decrease in supply, coupled with demand still slowly recovering, resulting in an improvement in the supply and demand gap.2 Spot OverviewTable 1: Domestic Polypropylene Price Summary (Unit: Yuan/Ton)Based on the East China region, today's polypropylene filament closed at 7369 yuan/ton, an increase of 8 yuan/ton from yesterday, in line with the morning's expectations.Futures fluctuated slightly upward, with polypropylene prices consolidating within a range today. The implementation of tariff policies boosted the market, and the red futures market supported spot offers. However, terminal demand was lackluster, leading to mixed spot price movements. Market participants mostly followed the market trend, with actual transactions negotiated. As of midday, the mainstream price for drawing in East China was between 7320-7450 yuan/ton.Price ForecastAffected by the U.S. tariff policy, international oil prices may be dragged down by demand prospects, and the cost side is expected to provide limited support for polypropylene (PP). On the demand side, downstream procurement remains based on just-in-time needs, and is mainly focused on buying at low prices, which does not provide much boost to the market. On the supply side, there are currently no new capacity expansions, and in addition, short-term maintenance of production facilities remains relatively concentrated, so the supply pressure is still manageable. It is expected that the polypropylene market may experience range-bound fluctuations tomorrow, with mainstream prices for wire drawing in East China at 7,300-7,450 yuan/ton. PVC：Weak supply and demand, PVC spot prices remain volatile.1. Today's Summary① The ex-factory prices of domestic PVC producers have decreased by 20 yuan per ton respectively.2. During the startup of Qinzhou Huayi, the startup time for Yanhai Magnesium Industry's ethylene process is to be determined.③ The adjustment details for oil prices are as follows: the retail price limits for gasoline and diesel in China will be increased by 230 yuan and 220 yuan per ton, respectively. The price of No. 95 gasoline will increase by 0.19 yuan per liter.2 Spot OverviewTable 1 Summary of Domestic PVC Spot Prices (RMB/ton)Based on the East China Changzhou market, the spot cash pickup price for type five PVC produced by the calcium carbide method in East China is 4900 yuan/ton today, remaining stable compared to the previous trading day.。The domestic PVC market remains weakly volatile, with pessimistic expectations for macro policies. The spot market is mostly stable, with prices on the futures market mainly looking for lower levels. Export quotations have slightly decreased due to weakening demand. In the East China region, the cash price for warehouse delivery of calcium carbide method No. 5 type is between 4870-5000 yuan/ton, while the ethylene method is between 5000-5200 yuan/ton.3.Price forecastMeasureThe domestic PVC market is experiencing fluctuations and a weakening trend, with concerns about the impact of increased tariffs on raw material and product exports. The supply expectations for spot fundamentals have weakened due to maintenance, and domestic demand remains sluggish, with foreign trade exports being the main focus. Both supply and demand are lacking, leading to a weak and fluctuating spot price trend. In the short term, cost support remains stable, and it is expected that the PVC market will maintain a small range of weak fluctuations. The cash price for electric calcium carbide method PVC in East China is expected to be in the range of 4800-5000 yuan/ton. PS： Styrene rebounds and then fluctuates, market prices stabilize.1 Today's summary Today, the East China GPPS market remained stable at 8,400 yuan/ton, in line with the morning forecast.② On Wednesday, the styrene market in East China fell by 65 to close at 8,050 yuan/ton, South China dropped by 50 to 8,150 yuan/ton, while Shandong rose by 15 to 8,015 yuan/ton.2 Spot OverviewTable 1 Domestic PS Price Summary (Unit: RMB/ton)According to statistics, today the East China GPPS is stable at 8400 yuan/ton.Upstream styrene showed a slight rebound followed by consolidation, with the market mainly holding firm on prices. However, supply remains high, and overall market inventory is ample. After recent restocking, buyers have adopted a wait-and-see approach, leading to weaker trading activity compared to the previous day.3. Price PredictionThe frequent fluctuations in raw styrene have created significant uncertainty regarding cost support. With supply remaining high and demand falling short of expectations, there has been some improvement in low-end sales, but prices struggle to rise. In the near term, the PS market may consolidate within a narrow range. It is anticipated that the华东market for modified styrene will likely trade between 8,400 to 9,800 yuan per ton. ABS：The market for filling gaps has ended, and today's trading has turned subdued.1 Today's Summary:① Prices in South China rose and fell; prices in East China rose and fell, but overall transactions were good. 2. The monthly ABS production in April is expected to slightly decrease from the previous month.2 Spot OverviewTable 1 Summary of Domestic ABS Prices (Unit: Yuan/Ton)Based on the benchmarks of Yuyao and Dongguan regions, market prices have experienced both increases and decreases.Today's market trading has turned quiet, the short-covering rally has ended, and some models have seen a pullback and adjustment, with market prices fluctuating between increases and decreases.3、Price ForecastToday, prices in South China fell slightly, while those in East China declined, with overall transactions being weak. Trade merchants are finding it difficult to sell, and supply has increased significantly. It is expected that domestic ABS prices will continue to show a downward trend tomorrow. EVA：Low demand for foaming, focus of negotiations is relaxed.1 Today's SummaryThis week, the ex-factory price of EVA petrochemical plants remains stable.This week, most of the EVA petrochemical facilities are in stable production.2 Spot OverviewTable 1 Domestic EVA Price Summary (Unit: Yuan/Ton)Today's domestic EVA market atmosphere was lackluster. Traders in the market held divergent mindsets, leading to a somewhat chaotic offering situation. The demand for foaming applications advanced slowly, and some holders, driven by panic, offered discounts to promote transactions. Most deals were reached through negotiations, with a weak and wait-and-see atmosphere prevailing. By the close of the market, soft material was quoted at RMB 11,400-11,900/ton, and hard material was quoted at RMB 11,300-11,800/ton.3.Price ForecastIn the short term, the domestic EVA market fundamentals are expected to remain in a stalemate. Demand from the photovoltaic sector provides temporary positive support, with EVA manufacturers holding firm to stabilize the market. Mainstream agents follow suit to maintain stability, while downstream foam demand continues to follow rigid needs. The market transaction pace remains slow, and the supply-demand game persists. Industry players adopt a cautious approach to operations. Longzhong Information predicts that the domestic EVA market will experience weak and stable consolidation in the short term. Engineering materialsPC：The PC market is trending upwards with a strong consolidation.1、Spot OverviewTable 1: Summary of Domestic PC Prices (Unit: RMB/ton)Today's domestic PC market showed a slightly stronger trend. In the East China market, the mainstream intended price for domestic PC sources was between 12,200-12,650 yuan/ton, slightly stronger compared to the previous trading day. In the South China market, the mainstream intended price for domestic PC sources was between 12,400-13,000 yuan/ton, stable compared to the previous trading day. For foreign sources, prices of most goods remained stable. The mainstream price of Lotte 1100 in East China was 12,800-13,000 yuan/ton, stable compared to the previous trading day. The mainstream price of Covestro 2805 in South China was 15,150-15,300 yuan/ton, also stable compared to the previous trading day. The raw material Bisphenol A continued its upward trend, providing stronger support to the PC market. During the trading day, some offers continued to rise slightly, but downstream buyers became more cautious about chasing higher prices. New order transactions decreased compared to earlier in the week, and market participants started to adopt a wait-and-see attitude.Price PredictionIt is expected that the PC market will digest the increase in the near future. The specific reasons are as follows:Supply:Supply is abundant, and the seller's报价 is either stable or slightly fluctuating.Requirement:The overall downstream willingness to chase gains remains cautious.Cost: The slight increase in raw material bisphenol A provided support for the PC market. PET：The price of polyester bottle flakes has dropped by 10-20.1 Today's Summary①,华润 prices fluctuate slightly while other factories remain stable (Unit: Yuan per ton)②. Today, the domestic polyester bottle chip capacity utilization rate reached 72.61% (revised from yesterday's 72.61%).2 Spot OverviewTable 1 Domestic Polyester Bottle Chip Price Summary (Unit: Yuan/Ton)Based on the East China region, the spot price of polyester bottle chip (water bottle grade) today closed at 6065, down 15 from the previous working day, in line with the morning's expectations.Crude oil prices are correcting. Although news of maintenance at a major PTA plant has emerged, raw material prices continue to lack upward momentum. Most polyester bottle chip plants are holding steady, with partial price adjustments. Traders are mainly focused on offloading inventory, with April shipments reportedly transacted at 6,040–6,130 or at a discount of 30 to a premium of 50 against the 2505 contract. The basis has weakened slightly, with sporadic restocking for rigid demand and subdued trading activity. (Unit: RMB/ton)3、Price ForecastThe market is largely waiting for news on the U.S. imposing additional tariffs, leading to relatively stagnant trading. On the supply side, a major manufacturer has restarted a 700,000-ton facility, raising expectations for increased supply. Downstream demand remains focused on essential restocking, with low purchasing intention before the holidays. The polyester bottle chip market is experiencing weak fluctuations, and it is expected that the spot price for water bottle materials will operate in the range of 6000-6150 tomorrow. POM：Demand performance is weak, transactions continue through negotiation.1. Today's SummaryThe domestic material manufacturers have lowered their factory prices.2. Inadequate follow-up on demand orders, resulting in average sales performance.2Spot OverviewTable 1 Summary of Domestic POM Prices (Unit: Yuan per ton)Based on the Yuyao area, today the price of Yun Tianhua M90 is 13,500 yuan/ton, with limited price fluctuations.Today, the POM market saw a downward trend in its center of gravity. Shipments were slow across various regions, increasing the pressure on petrochemical plants to offload inventory. Some POM manufacturers further reduced their ex-factory prices, dampening market sentiment. Traders lacked confidence in their operations, leading to a continued decline in mainstream offers by 100-800 yuan/ton. Downstream users remained cautious and观望情绪主导, resulting in subdued trading activity. The mainstream报价区间 ranged from 9,800 to 13,700 yuan/ton.3、Price prediction The shipment situation in various regions has not improved significantly during the week. The total inventory of POM petrochemical plants will continue to rise. In addition, some manufacturers have lowered their ex-factory prices for the second time, making it difficult for the market sentiment to be supported. Traders are less interested in operations, and the focus of quotations will continue to fall. End users are mostly cautious and观望ing, with sporadic actual transactions. It is expected that the domestic POM market will fall narrowly in the short term. PBT：The PBT market shows a weak and fluctuating trend.1 Today's Summary①PBT manufacturers' quotations remain stable.This week, the supply side saw the restart of PBT operations at the Fujian Meizhou Bay facility.③ China's PBT industry production reached 23,075 tons this week, with a capacity utilization rate of 54.32%, an increase of 4.47% compared to last week. The domestic average gross profit for PBT in China this week was -498 yuan per ton, a decrease of 97 yuan per ton compared to last week.2 Spot OverviewTable 1: Summary of Domestic PBT Prices (Unit: RMB/ton)Translate the above content from Chinese to English and output the translation result directly without any explanationThe East China region is the benchmark.Today, the mainstream price for medium to low viscosity PBT resin is between 7800-8200 yuan/ton.Decreased by 50 yuan/ton compared to yesterday。Today, the PBT market is weak and falling, while the PTA market remains steady. The BDO market is operating with观望 (wait-and-see attitude). With general cost support, the PBT supply side continues to focus on sales, and there are reports of lower prices in the market, causing the market's focus to weaken and fall. According to Longzhong Information statistics, the price range for medium to low viscosity PBT pure resin in the East China market is between 7800-8200 yuan per ton.3. Price PredictionIt is expected that the PBT market will remain weak and观望 (note: 'watchful' or 'cautious'). On the cost side, there is an expectation of reduced load in both supply and demand for PTA, with poor purchasing enthusiasm from downstream buyers, leading to a low overall valuation of the industry chain. However, cost support remains, and the market lacks a sustained driving force. In the short term, the domestic PTA spot market will maintain a volatile pattern. BDO currently has decent support on the supply side, with downstream demand following at a basic pace, but the cost transmission within the industry chain is not smooth, suppressing the movement of raw materials, and the market performance is weak. With average cost support, the PBT market sees an increase in the mentality of shipping out goods, and there may be an increase in low-priced sources in the market, causing the market focus to run weakly. Therefore, it is expected that the medium and low viscosity PBT resin in the East China market will be priced at 7800-8100 yuan/ton tomorrow. PA6：Rigid报价 firm for slice manufacturers as PA6 market prices increase1 Today's Summary①. Sinopec's weekly settlement price for caprolactam was 10,280 yuan/ton (six-month interest-free acceptance), a decrease of 100 yuan/ton compared to last week.② Sinopec pure benzene price at refineries in East China and South China increased by 150 yuan per ton, now executing at 6750 yuan per ton, with prices effective from April 1st.2 Spot OverviewTable 1 Summary of Domestic Polyamide 6 Prices (Unit: RMB/ton)Today, the price of conventional spinning polyamide 6 chips has risen. The supply of raw material caprolactam has decreased, and companies are holding firm on their quotations. The cost support for chips has strengthened, and polymerization companies, with thin profit margins, have raised the ex-factory prices of chips. However, downstream production companies are cautiously observing the market, replenishing stocks at appropriate prices, resulting in limited transactions. Market negotiations are based on actual orders. In East China, conventional spinning PA6 is priced at 10,650-10,950 yuan/ton cash on short delivery, while high-speed spinning spot is priced at 11,100-11,600 yuan/ton on acceptance delivery. In Chaohu, the price is 9,800-9,900 yuan/ton cash on self-pickup.3、Price ForecastFrom the cost perspective, the supply of raw material caprolactam has decreased, leading to a relatively firm price, and the pressure on polymerization costs has increased. From the supply and demand perspective, Zhejiang Fangyuan and Fangming are undergoing maintenance shutdowns, and some enterprises are reducing production, resulting in decreased supply. Downstream businesses are primarily restocking on demand, and some polymerization companies have reduced inventory pressure. It is expected that the nylon 6 market will operate with a slight preference for consolidation in the near term, closely monitoring downstream demand and manufacturers' pricing dynamics. PMMA： The upstream and downstream sectors continue to game, and the market maintains a stable trend.1. Today's summary① Today's factory prices remain stable.2. The domestic utilization rate of PMMA particles today is 64%.2 Spot OverviewTable 1 Summary of Domestic PMMA Particle Prices (Unit: CNY/ton)PMMA particle prices in East China closed at 16,700 yuan per ton today, unchanged from yesterday, below early expectations.Today, the PMMA particle market remained stable, with a predominant wait-and-see attitude. Suppliers showed no clear intention for deep price cuts, maintaining steady pricing sentiment. Downstream demand stayed unchanged, with procurement continuing at a rigid pace, while actual transaction volumes saw insufficient follow-up.3. Price PredictionThe short-term PMMA particle market price is stable, with sellers maintaining a steady mindset and limited room for negotiation. At the beginning of the month, there is insufficient market news and we still need to wait for further clarification in the market. In summary, with ongoing games between upstream and downstream, the short-term PMMA particle market is expected to maintain a steady trend, with attention on the shipping rhythm and receiving dynamics. PA66Downstream purchases at high prices are cautious, and the market is consolidating weakly.1 Today's summary① On April 1, market attention shifted from production sanctions to U.S. tariff policies, raising concerns about the drag on demand prospects, leading to a decline in international oil prices. NYMEX crude oil futures contract for May fell by $0.28 per barrel to $71.20, a decrease of -0.39%; ICE Brent crude oil futures contract for June, rolling over to July, fell by $0.28 per barrel to $74.49, a decrease of -0.37%. China's INE crude oil futures main contract for May rose by 11.6 to 549 yuan per barrel, with overnight trading rising by 4.3 to 553.3 yuan per barrel.As of today, the domestic PA66 capacity utilization rate is 57%, with a daily output of approximately 2,200 tons. Under pressure from costs and demand, domestic PA66 enterprises have reduced their capacity utilization rates, and the demand side is average, resulting in a relatively abundant supply of goods in the domestic PA66 industry.Invista (China) Investment Co., Ltd. announced that from April 1, 2025, at 7:00 AM, the spot trading price of hexamethylenediamine will be set at 21,300 RMB/ton, remaining stable compared to the March price.2 Spot Market OverviewTable 1 Domestic PA66 Price Summary (Unit: RMB/ton)Referring to the Yuyao market in the East China region, the EPR27 price today is referenced at RMB 16,700-16,900 per ton, unchanged from yesterday's price.Raw material prices are fluctuating, providing limited cost support. Downstream buyers are purchasing as needed, and market supply is ample. Aggregation companies have implemented concentrated production reduction plans, and the market is temporarily stable. 3. Price ForecastingDemand shows no significant recovery, with downstream sectors purchasing as needed. Under cost pressures, polymerization companies have a strong inclination to reduce production. It is expected that the domestic PA66 market will consolidate in the short term.

1. Today's Summary ① Domestic PVC producers have reduced their ex-factory prices by RMB 20 per ton respectively.②, Qinzhou Huayi is in operation, while the start-up time for Salt Lake Magnesium's ethylene project is yet to be determined.③、The specific situation of oil price adjustment is as follows: domestic gasoline,dieselIncrease0.19 yuan per liter. 2 Spot Overview Table 1 Summary of Domestic PVC Spot Prices (Yuan/Ton) Market Specifications April 1 April 2nd Rise and fall value Price change percentage SG-5 4900 4900 0 0% Hangzhou SG-5 4950 4940 -10 -0.20% Guangzhou SG-5 5030 5030 0 0% Zibo SG-5 4950 4940 -10 -0.20% Tianjin SG-5 4890 4890 0 0% Chengdu SG-5 4920 4900 -20 -0.41% Data source: Based on the East China Changzhou market, the spot price of type five PVC produced by the calcium carbide method in East China today is 4900 yuan/ton, remaining stable compared to the previous trading day. 。 Domestic PVC Market ConditionsWeak oscillation, macro policy expectations are not optimistic, the spot market is mostly steady, the transaction price on the盘面is mainly seeking lower levels, export quotations have slightly decreased due to weakened demand, the current cash warehouse delivery price for calcium carbide method No.5 type in East China region is between 4870-5000 yuan/ton, and for ethylene method it is between 5000-5200 yuan/ton. Figure 1 Domestic PVC Price Trend (Unit: Yuan/ton) Figure 2 Domestic PVC Price Trend Chart by Region (Unit: RMB per ton) Data source: Longzhong InformationData source: Longzhong Information 3. Table 2 Major Delivery Location Basis (Yuan per Ton) April 1st Month-on-month East China (05 contract) -180 -180 0 0% Data Source: Longzhong InformationThe basis for PVC in East China ranges from -160 to -280 yuan/ton against the May contract, with little adjustment in the basis.  Figure 3 PVC East China Basis Trend (Unit: Yuan per ton)   Data Source: Longzhong Information  4. Production Dynamics   Table 3 P VC Inspection Device Overview Table Company Name Technology Capacity (10,000 tons) Note Equipment Change Restoration Plan Mount Tai Salt IndustryCalcium carbide method 10 Parking 2022 September 29 Pending Shandong Dongyue 13 Parking 2023 March 25th PendingUhai ChemicalCalcium carbide method 40 Park 2023 July 23rdGansu XinrongCalcium carbide method 20 Parking 2023 July 12, year PendingEthylene method 40 2024 September 20th PendingEthylene method 13 Stop 2025 March 24, 2025Qinzhou HuayiEthylene method 40 Annual Maintenance 2025 February 10thPendingGansu Yin GuangCalcium carbide method 13 Temporary Parking 2025 March 11th 2025 March 20thEthylene method 30 Temporary parking 2025 March 8th PendingSalt Lake Magnesium IndustryCarbide method 50 Temporary shutdown for maintenance for three days 2025 March 23rd 2025 March 26thYibin TianyuanElectrocalcium process 40 Maintenance 2025 March 23rd 2025 April 2, YearBohua DevelopmentEthylene method 80 4 Monthly planned rotation休息April 6, 2025 Sichuan JinluCalcium carbide method 30 Maintenance 2025 April 14th 2025 April 17th, YearAnhui HuasuCarbide method 62 4 Monthly major repair  Tianchen ChemicalElectrocalcium process 45 4-5 Monthly Maintenance检修  Shaanxi Jintai 30   Calcium carbide method 70 4 Mid-month annual maintenance  Hubei Yihua 11 4 Moon Type III facility shutdown  Xinjiang ZhongtaiElectroslag Method 55 Shengnong Plant Maintenance  Shaanxi BeiyuanCalcium carbide method Pending  Qinghai YihuaElectrocalcium Process 30 Planned maintenance  Xinjiang YihuaCalcium carbide method 30 4-5 Monthly Maintenance   80 5-6 Moon's Rest  Shaanxi Gold Tai

1 Today's Summary ① Today, GPPS in East China stabilized at 8400 yuan per ton, in line with the morning's expectations. ②、 On Wednesday, the East China market dropped by 65 to 8050 yuan per ton, the South China market dropped by 50 to 8150 yuan per ton, and the Shandong market increased by 15 to 8015 yuan per ton. 。 2 Spot Overview Table 1 Summary of Domestic PS Prices (Unit: Yuan per ton) market Specification Today's price 涨跌值 - Fluctuation Value 涨跌幅 Translation: Fluctuation Range Ningbo 8400 0 0% Yuyao East China HIPS - Saibaolong 9750 0 0% Shantou South China GPPS - Renxin 8120 0 0% Shantou South China HIPS - Xinghui 9130 0 0% Sinoenergy InformationThe East China GPPS closed at 8400 yuan per ton today.Upstream styrene experienced a slight rebound followed by fluctuations, with the market mainly holding firm on prices. However, supply remains at high levels, and the overall market inventory is ample. After recent restocking, buyers have adopted a wait-and-see approach, leading to lower transaction volumes compared to yesterday. 。 Figure 1 Domestic PS Price Trend Chart 2023-2025 (RMB/ton) Figure 2 Domestic benzene prices chart for 2023-2025 (RMB/ton) Source of data: Longzhong Information 3 Production Dynamics 12 3 10 3 Restart on the 4th Guangxi Changke 10 3 Product released on the 15th of the month Anqing certain device 10 Rumors suggest a market restart on March 18th. Huizhou Equipment 30 3 Starting from March 30th for maintenance and repair 10 3 Parking on the 31st of the month Ningbo Device 40 4 Short stop of 1 line at the beginning of the month Zhangzhou Equipment 35 4 Operation reduced to dual-line running since the beginning of the month. 4 The frequent fluctuations in raw material styrene have created significant uncertainty in cost support. With supply remaining high and demand falling short of expectations, there has been some improvement in low-price sales, but there is little upward momentum. In the near term, the PS market may consolidate within a narrow range. It is expected that the price range for modified styrene in the East China market will be between 8,400 to 9,800 yuan per ton. 5 Data Calendar Table 3 Overview of Domestic PS Data (Unit: million tons) data Last period's data Expected trend in this period PS Production Capacity Utilization Rate Thursday 14:00PM 68.8% ↘ PS Enterprise Inventory Thursday 4:00 PM 12.7 ↘ Data Source: Longzhong Information Note: 1 2 ,↗↘ are considered narrow-range fluctuations, highlighting data with涨跌幅in the range of 0-3%. Note: The phrase "涨跌幅" is left untranslated as it seems to be a specific financial term which may not have a direct translation without more context. If it refers to "fluctuation range" or similar, the sentence could be adjusted accordingly. 

1 Today's Summary ① Sinopec Central China has reduced prices for some PP products: Luoyang granular material 7300, M18 at 7300; Zhonghan 8009 at 7600; Zhongyuan MT35 at 8050, MT75N at 7550. ②、 The domestic polypropylene shutdown impact decreased by 1.64% to 17.08% today. Details of changes in domestic PP maintenance units: the second line of Zhongjing Petrochemical's Phase II (600,000 tons/year) PP unit has restarted. The daily production ratio of raffia decreased by 2.08% to 25.41%, mainly due to the switch to other products in the second line of Sinochem Quanzhou. ③、 。 2 Current Spot Situation Polypropylene priceSummary Table (Unit: Yuan/Ton) market 4 Month 1 Day 1 4 February 2nd Rise and fall value 涨跌幅 Fluctuation in price上涨/下跌的幅度 Nationwide 7337 7341 +4 0.05% East China 7361 7369 +8 0.11% North China 7295 7301 +6 0.08% South China 7419 7422 +3 0.04% Central China 7285 7286 +1 0.01% Southwest 7313 7306 -7 -0.10% northwest 7172 7174 +2 0.03% Key Downstream BOPP 8350 8350 0 0.00% Data source:Longzhong Information Start withAs of today, the closing price for polypropylene fiber in the East China region was 7,369 yuan per ton, an increase of 8 yuan per ton from yesterday, in line with the morning's expectations. Futures are trading in a range with a slight upward bias. Today, polypropylene prices are mainly consolidating. The implementation of tariff policies has boosted the market, and the red trend on the futures market is supporting spot quotes. However, terminal demand remains weak, causing spot prices to fluctuate. Market traders are mostly operating according to the market, with actual transactions being negotiated. By midday, the mainstream price range for拉丝in East China was between 7,320 to 7,450 yuan per ton. 。 Figure 1: Domestic Polypropylene Price Trend (Unit: Yuan/Ton) Figure 2 Domestic polypropylene price trend chart by region (Unit: Yuan per ton)                                                                                   Data source: Longzhong InformationData Source: Longzhong Information 3 Spot-futures basis In terms of basis, today the basis in the North China region is -57 yuan/ton, down 14 yuan/ton from yesterday; the polypropylene basis in the East China region is 11 yuan/ton, down 12 yuan/ton from yesterday. Figure 3 North China Basis Trend (Unit: Yuan per ton) Data source: Longzhong InformationData source: Longzhong Information 4 Production dynamics Polypropylene The capacity utilization rate increased from 74.46% to 76.02%, rising by 1.56% compared to the previous day. Today's changes in domestic PP unit maintenance: The second line of Zhongjing Petrochemical Phase II (600,000 tons/year) PP unit has restarted. Figure 5: Trend Chart of Domestic Polypropylene Capacity Utilization Rate Figure 6 Domestic polypropylene profit price trend chart (Unit: yuan/ton) Data source: Longzhong InformationData source: Longzhong Information 5 Market sentiment Recently, international oil prices have been relatively strong, with support for PP at the bottom. The futures market has shown a firm performance, and spot prices have slightly increased. Downstream demand remains mostly cautious, with some entering the market for essential purchases, but there is limited acceptance of high prices, providing insufficient support for prices. Traders are primarily cautious and are letting go of inventory based on market conditions. 6 Affected by the US tariff policy, international oil prices may be dragged down due to concerns over demand prospects, which is expected to provide limited support for PP (polypropylene) from the cost side. In terms of demand, downstream purchases mainly maintain their minimum needs and tend to buy at lower prices, which does not significantly boost the market. On the supply side, there is no new increase in production capacity in the short term, coupled with the relatively concentrated maintenance shutdowns of production enterprises in the short term, keeping the supply pressure manageable. It is expected that the polypropylene market tomorrow may fluctuate within a range, with the mainstream price of East China拉丝 (a specific type of polypropylene product)mainly between 7,300-7,450 yuan/ton. Note: "拉丝" specifically refers to a type of polypropylene product used for fiber or filament production, but it's typically translated or left as-is in English technical contexts. If a more generalized translation is preferred, it could be translated as "polypropylene fiber/filament," but here it's kept in its original form given the context. 。 7 Table 2: Summary of Polypropylene Related Product Prices (Unit: RMB/ton) Market 4 It is already in English. The translated content from Chinese "月1日" is "1st day of the month" or simply "March 1st" if specifying the month, but generally, it refers to the first day of any given month. Without additional context, the most accurate translation is "1st day of the month". 4 February 2nd Rise and fall value Price change percentage Shandong propylene 6650 6725 75 1.13% 2485 2450 -35 -1.41% Linyi PP powder 7180 7210 30 0.42% 8 Data Calendar Table 3 Overview of Domestic Polypropylene Data (Unit: Ten Thousand Tons) Release date Last period's data The current trend is projected to be Unit PP Total Inventory 85.86 ↓ Ten thousand tons PP Enterprise production capacity utilization rate Thursday 4:30 PM 76.43% ↓ % PP Weekly maintenance impact quantity Thursday 4:30 PM 15.612 ↓ Ten thousand tons Total Production of Domestic PP Enterprises Thursday at 4:30 PM 73.2 ↓ 10,000 tons Profit of oil-based PP enterprises Thursday at 4:30 PM -426.21 ↓ Yuan/ton Coal-to-PP enterprise profit Thursday 4:30 PM 896 ↑ yuan/ton PDH Thursday at 4:30 PM -858.14 ↓ Yuan per ton PP Thursday 4:30 PM -324.83 ↑ yuan/ton PP Export Profit Thursday 4:30 PM 36.15 ↑ USD/tonneData source: Longzhong Information 1 2 Consider narrow fluctuations, highlighting the data with a rise or fall within 0-3%.         

Today's HDPE Market Brief:According to the statistics of Zhuan Su World, on April 2, the HDPE market in major regions across the country saw more increases than decreases. Specifically: The HDPE film market in North China increased by 20 yuan; the East China market remained the same as yesterday; the South China market remained the same as yesterday. The HDPE pipe material market in North China increased by 70 yuan; the East China market decreased by 50 yuan; the South China market remained the same as yesterday. The HDPE drawing market in North China increased by 40 yuan; the East China market increased by 10 yuan; the South China market remained the same as yesterday. The HDPE hollow market in North China decreased by 20 yuan; the East China market remained the same as yesterday; the South China market decreased by 20 yuan. The HDPE injection molding market in North China decreased by 100 yuan; the East China market increased by 50 yuan; the South China market remained the same as yesterday.

Today's LDPE market commentary:According to the statistics of ZhuanSu Vision, on April 2nd, the LLDPE prices in major regions across the country showed more decreases than increases, while LDPE prices showed more increases than decreases. Specifically: LLDPE film prices in the North China market fell by 10 yuan; in the East China market fell by 20 yuan; in the South China market rose by 80 yuan. LDPE film prices in the North China market remained the same as yesterday; in the East China market remained the same as yesterday; in the South China market remained the same as yesterday. LDPE heavy packaging prices in the East China market remained the same as yesterday; LDPE coating prices in the North China market remained the same as yesterday; in the East China market rose by 20 yuan; in the South China market remained the same as yesterday.

1 Today's summary ① The EVA petrochemical factory's ex-factory price remained stable this week.② The EVA petrochemical facility has been producing stably this week. 2 Spot Overview Table 1 Domestic EVA Price Summary (Unit: Yuan/Ton) Market Model number April 1st 4 May 2nd Rise and fall value Price change percentage Xiamen Gulei USI-629 11400 11400 0 0% Xiamen Sinochem Quanzhou 00628 Short of goods 11500 Stock shortage 11500 0 0% Xiamen Yangba 5110J Short 11,600 pieces Short of 11,600 goods 0 0% Jiangsu Yangba 5110J Short supply 11600 Short of goods by 11,600 0 0% Jiangsu Yangba 6110M Less goods 11700 Short 11,700 units of goods 0 0% Jiangsu Photovoltaic 28-25Reference 11600-11700 Reference 11600-11700 0 0% Data source:Longzhong Information Today's domestic EVA market atmosphere is lackluster. There is a divergence in mindset among traders in the market, with offers appearing somewhat chaotic. The demand for foaming materials is sluggish, and some holders, in a state of panic, are offering discounts to promote transactions. Most deals are negotiated, with a weak and cautious atmosphere prevailing. 。 At the close: Soft material reference 11,400-11,900 yuan/ton, hard material reference 11,300-11,800 yuan/ton. Figure 1 Domestic EVA Price Trend Chart (yuan/ton) Figure 2 Domestic EVA Price Trends by Region (RMB/ton) Data source: Longzhong InformationData source: Longzhong Information 3 Production Dynamics Domestic EVA petrochemical plants: Jiangsu Hongjing Line I produces photovoltaic V2825, Line II switches to photovoltaic; Ningxia Baofeng produces photovoltaic, Tianli Gaoxin produces photovoltaic; the industry's capacity utilization rate remains high; in addition, the soft material prices in the South China market are整理 at 11,400-11,700 yuan/ton, and the gross profit level of the domestic EVA industry is around 2,100 yuan/ton. Figure 5: Trend of Domestic EVA Capacity Utilization Rate Figure 6 Domestic EVA Profit and Price Comparison (yuan/ton) Data Source: Longzhong InformationData source: Longzhong Information 4 price prediction In the short term, the fundamentals of the domestic EVA market are expected to remain in a stalemate and consolidation trend. Demand from the photovoltaic sector will temporarily provide support, with EVA manufacturers maintaining a firm stance to prop up the market, and major distributors following suit to keep prices stable. Downstream foaming demand follows rigid needs, market transaction pace is slow, supply and demand game continues, industry players are cautious in operation, Longzhong Information expects the domestic EVA market to remain weakly stable in the short term. 5 , Product Information productId︓   1 Ethylene On April 1, CFR Northeast Asia is stable at $855/ton, and CFR Southeast Asia is stable at $920/ton. Sinopec Chemical Sales East China Company has kept its ethylene price steady at 7,100 yuan/ton, and Jinsan Lianmao has also maintained its ethylene price at 7,100 yuan/ton. 2 Acetic acid vinylester: East China Acetic Acid 乙烯 marketHigh The low-end mainstream negotiation range is 5850-6000 yuan/ton, while petrochemical prices in East China are 5950-6000 yuan/ton. The market is mostly observing, and the negotiation focus is being adjusted within this range. 6 Data Calendar Table 2 Domestic EVA Data Overview (Unit: 10,000 tons) Data Release Date Data This period's trend forecast EVA Production capacity utilization rate Thursday 16:00PM 86.47% ↑ EVA Weekly Output Production Thursday at 4:00 PM 5.63 ↗ Data source: Longzhong InformationNote: 1 , ↓↑ indicates significant fluctuations, highlighting data with increases or decreases exceeding 3%. 2 ,↗↘ are considered narrow fluctuations, highlighting data with涨跌幅在0-3% within this range. Note: The phrase "涨跌幅在0-3%" needs a proper English translation which is "fluctuations in the range of 0%-3%". Thus, a more accurate translation would be:,↗↘ are considered narrow fluctuations, highlighting data with fluctuations in the range of 0%-3%.

1 Today's Summary On April 1st, market attention shifted from oil-producing countries' sanctions to the U.S. tariff policy, raising concerns that demand prospects would be hampered, leading to a decline in international oil prices. NYMEXcrude oil futuresThe May contract fell by $0.28 per barrel to $71.20, a decrease of 0.39%; the ICE Brent crude futures for the June contract fell by $0.28 per barrel to $74.49, a decrease of 0.37%. The main contract for China's INE crude oil futures, 2505, rose by 11.6 to 549 yuan per barrel, and in the night session, it rose by 4.3 to 553.3 yuan per barrel.Today HDPE MarketPrice adjustment, with a fluctuation of 2-6 yuan per ton; LDPE market prices slightly increased, with a fluctuation of 2 yuan per ton.LLDPE marketThe price slightly decreased, with a decline of 7 yuan per ton. 2 Spot Overview Table 1 Summary of Domestic Polyethylene Closing Prices (Unit: Yuan per ton) Variety Category Lowest price Highest price Mainstream price Price change percentage HDPE Film 7961   8343 8164 -5 Low melting injection molding 7439 8055 7917 2 Drawing wire 8058 8520 8080 -6 Small and medium hollow 7622 8008 7869 2 LDPE Film 9447 10021 9377 2 LLDPE Film 7823 8319 8210 -7 Data source: Longzhong InformationToday, the domestic polyethylene spot market prices showed mixed trends. HDPE spot market prices saw minor adjustments of 2-6 yuan/ton, with supply slightly tightened due to partial plant maintenance and production shifts, but overall market demand remained limited. End-users showed clear resistance to high-priced resources, leading to minor price fluctuations. LDPE spot market prices rose slightly by 2 yuan/ton, as LDPE supply remained relatively stable, and downstream demand improved somewhat, prompting a modest increase in market offers. LLDPE spot market prices declined slightly by 7 yuan/ton, with significant supply pressure overall and no noticeable improvement in downstream demand. Market participants lacked confidence, mostly maintaining active sales, resulting in continued minor price declines. Figure 1 Domestic market price trends of polyethylene by variety (yuan/ton)                                                                                     Data source: Longzhong Information 3 Futures-spot basis LL The key contract fluctuated upward, opening at 7,688 yuan per ton. By 15:00, the closing price was 7,711 yuan per ton, an increase of 18 yuan per ton compared to the previous settlement price. The trading volume was 364,400 lots, with open interest at 386,000 lots, a decrease of 26,500 lots. The spot price difference today was 9 yuan per ton, a decrease of 21 yuan per ton compared to the previous working day. Figure 2: Polyethylene Basis Spread Trend (RMB/ton, RMB/ton)  Data source: Longzhong Information 4 Production Dynamics The polyethylene capacity utilization rate increased from 82.49% to 83.42%, up by 0.93% month-on-month. Today, the maintenance restart of the Yanshan Petrochemical HDPE Line 1 unit was involved, with no additional unit maintenance added. The oil-based production cost was 8,256 yuan/ton, down by 8 yuan/ton compared to the previous working day; oil-based profit stood at -356 yuan/ton, down by 42 yuan/ton from the previous working day; coal-based profit was 1,604 yuan/ton, down by 84 yuan/ton compared to the previous working day. Figure 3 Trend of Capacity Utilization Rate of Polyethylene in China Figure 4 Domestic Polyethylene Profit and Price Comparison (yuan/ton) Data source: Longzhong InformationData Source: Longzhong Information 5 Market Sentiment Table 2: Sentiment Expectations of Domestic Polyethylene Upstream and Downstream Practitioners Date Bearish Bullish Look steady This week 38.1% 5.9% 55.9% Last week 37.1% 9.9% 53.0% Rise and fall 1.0% -4.0% 3.0% Data Source: Longzhong Information GroupNote: The above data is updated every Thursday. 6 Price Forecast As the Qingming holiday approaches, merchants maintain a positive attitude towards shipments. Supply pressure remains, so most grades are still priced relatively low. In the short term, with expectations of new capacity from Exxon and Inner Mongolia Baofeng coming online, the terminal inquiry price intentions are lower, and traders may have to passively offer discounts. However, strong support from the cost side, along with increased low-end transactions, provides confidence to the market, and prices are likely to remain in a low and narrow fluctuation range. 7 , related product information Crude oil market: In the short term, the main trading logic of the international crude oil market has shifted. The upside comes from heightened U.S. sanctions on Iran and geopolitical instability, while the downside stems from Trump's tariff policies dampening demand expectations, OPEC+'s modest production increase, and a strong U.S. dollar. Today, some of Trump's previously announced tariff policies will take effect, with potential new tariffs to be announced, keeping global economic and demand pressures elevated. International crude oil prices are expected to trend downward today. 8 Data Calendar Table 3 Overview of Domestic Polyethylene Data (Unit: 10,000 Tons) Data Release Date Last period's data This period's trend forecast PE Total inventory of production enterprises (million tons) Wednesday 5:00 PM 50.47 ↘ PE Social sample warehouse inventory Tuesday 17:00 PM -2.99 ↘ PE Weekly production (10,000 tons) Thursday 5:00 PM 61.64 ↗ PE Maintenance Impact Volume (10,000 tons) Thursday 5:00 PM 10.51 ↘ PE Weekly capacity utilization rate Thursday 17:00PM 82.32% ↗ PE Downstream industry capacity utilization Thursday at 5:00 PM +2.29% ↗ PE Mindset Research Thursday 12:00 AM -3.96% ↗ Data source: Longzhong Information Note: 1 ，↓↑ are considered as significant fluctuations, highlighting data dimensions with changes exceeding 3%. 2 Consider ↗↘ as narrow fluctuations, highlighting data with price changes within 0-3%. 3 The above data is updated every Thursday.

Today's PP market brief review:According to Zhuansu Shijie statistics, on April 2nd, the PP market in major regions across the country saw more declines than increases, including:PP block copolymer increased by 20 yuan in the North China market; remained stable in the East China market compared to yesterday; increased by 20 yuan in the South China market. PP random copolymer remained stable in the North China market compared to yesterday; remained stable in the East China market compared to yesterday; decreased by 80 yuan in the South China market. PP spinning remained stable in the North China market compared to yesterday; decreased by 10 yuan in the East China market; decreased by 10 yuan in the South China market. PP fiber remained stable in the North China market compared to yesterday; remained stable in the East China market compared to yesterday; decreased by 10 yuan in the South China market. PP injection molding decreased by 20 yuan in the North China market; remained stable in the East China market compared to yesterday; increased by 20 yuan in the South China market.

1 Today's summary:① Prices in South China rose and fell; prices in East China also had increases and decreases, but overall transactions were good.②、ABS monthly output in April is expected to slightly decrease from the previous month. 2 Spot Overview   Table 1: Summary of Domestic ABS Prices (Unit: RMB/ton)   market Specifications 4 It is already in English. The translation of "月1日" from Chinese to English is "January 1st". 4 February 2nd Price Change Value Price change percentage Yuyao 15E1 11150 11150 0 0% 750A No priceNo priceNo priceNo price HI-121H 11200 11200 0 0% DG417 10800 11050 250 2.31% PA-757K 11400 11250 -150 -1.32% 0215A 10900 11000 100 0.92% Dongguan 15E1 10450 10450 0 0% 750A No priceNo PriceNo priceNo price 121H 10250 10300 50 0.49% KF730 10030 10050 20 0.2% DG417 10050 10050 0 0% PA-757K No priceNo priceNo priceNo price 0215A 9480 9480 0 0% Data source:Longzhong Information Based on the regions of Yuyao and Dongguan, market prices fluctuate with some rising and some falling. Today's market trading has become subdued, the short-covering rally has ended, and some models are experiencing pullbacks and adjustments, with market prices fluctuating up and down. Figure 2: Domestic ABS prices by region, 2023-2025 (Unit: RMB/ton) Data source: Longzhong Information 3 Production Dynamics The Tianjin Dagukou 400,000 tons/year ABS facility is scheduled to be shut down in full from April 10th to April 22nd, with operations maintaining at 50% capacity from April 22nd to May 8th. The Liaoning Kingfa 600,000 tons/year ABS facility is expected to undergo a shutdown for maintenance from May 15th to June 30th, lasting for 45 days. Figure 2 Weekly Domestic ABS Capacity Utilization Trend Chart Figure 3 Weekly Domestic ABS Cost Profit Trend Chart Data source: Longzhong InformationData source: Longzhong Information 4 Price Forecast: Today, prices in the South China market showed mixed movements with both gains and declines, while the East China market also experienced fluctuations with rises and falls. Market transactions have slowed, and the short-covering rally has ended, leaving trading activity weak. It is expected that tomorrow's market prices will maintain a slight downward trend in some areas. 5 Related product situation Styrene Market ： In the afternoon, the main contracts for raw materials and styrene fell in price, and those in the spot market adjusted their prices accordingly. Business discussions in the Zhejiang market weakened intraday. , smell The original text seems to be incomplete or possibly a typo, as it only contains a comma and the character "闻" (smell/w闻" does not form a complete sentence or phrase in Chinese. The provided English translation, "smell," is the direct translation of the character "闻." If there was additional context or characters meant to be included, please provide the full text for an accurate translation. Currently There is a negotiation at 8080/8120 yuan/ton. 。 Acrylonitrile Market ： Today in East China Acrylonitrile market price The price has risen, with the mainstream being offered at reference prices of 9300-9400 yuan per ton, a increase of 100 yuan per ton at the lower end compared to the previous trading day. Local supply has decreased, with higher报价 in the market, and there is still a bullish sentiment in the market. (Note: The term "报价" was incomplete in the original text and seems to be cut off. In the context provided, it likely refers to "报价" meaning "quotations" or "offers" in the market.) Butadiene Market ： As of the press release, the ex-tank self-pickup price of butadiene in Jiangyin, Jiangsu is around 11,000-11,100 yuan/ton, up 50 yuan month-on-month. The increase in supplier prices and downstream products has boosted the quotation sentiment of merchants, and higher offers have been heard in the market, but Downstream buying interest is relatively sluggish, and higher-priced offers are temporarily struggling to gain solid order support. 。 6 Data Calendar Table 4 Overview of Domestic ABS Data (Unit: Million Tonnes) Data Release Date Last period's data This period's trend is expected ABS Capacity utilization rateThursday at 11:30 AM 72.8% ↗ ABS Weekly productionWednesday at 4:00 PM 12.96 ↗ Manufacturer's inventoryMonday, Thursday 13:45PM 16.9 ↘ Data Source: Longzhong InformationNote: 1 Consider ↑↓ as significant fluctuations, highlighting data dimensions with changes exceeding 3%. 2 Consider ↗↘ as narrow fluctuations, highlighting data with price changes within 0-3%.

In the context of global energy transition and the restructuring of industrial chains, international energy giant Shell has been making frequent moves recently. On April 1, Shell announced the completion of the sale of its Singapore Energy and Chemicals Park to CAPGC, and then further disclosed details on May 8. This asset divestment is in line with Shell's ongoing strategy to optimize its chemicals business portfolio, while its deep engagement in the Chinese market highlights its forward-looking judgment on the future landscape of the Asia-Pacific energy market.Singapore Asset Divestment: Focusing on Core Business, Retaining Regional Hub StatusSingapore's Energy and Chemicals Park is a key production hub for Shell in the Asia-Pacific region, encompassing the Pulau Bukom refinery (with a capacity of 237,000 barrels per day), an ethylene cracker (with an annual capacity of 1.1 million tons), and the Jurong Island petrochemical base. However, with the global overcapacity in refining and chemical production and increasing pressure from the low-carbon transition, Shell has chosen to divest some of its heavy assets to focus on high-value-added areas. After the transaction is completed, Shell will continue to use Singapore as its Asia-Pacific marketing and trading center and will remain involved in the local energy market through liquefied natural gas (LNG) supply, retail networks, and electric vehicle charging facilities.The buyer CAPGC is controlled by Chandra Asri, Indonesia's largest chemical enterprise, with Glencore as a shareholder. This combination highlights the demand for integration in the petrochemical industry chain in the Southeast Asian market. Shell achieves asset monetization through the transaction, while CAPGC gains a springboard to enter the regional high-end refining and chemical market, creating a win-win situation.China's Layout Deepens: Advancing in the Trillion-Yuan Petrochemical Market and Low-Carbon Transition In contrast to the contraction of some businesses in Southeast Asia, Shell continues to increase its investment in the Chinese market. As one of the core markets in its global strategy, Shell has built a complete industrial chain covering oil and gas exploration, refining, sales, and new energy through joint ventures, wholly-owned enterprises, and other forms:Upstream cooperation: Collaborating with China National Petroleum Corporation and China National Offshore Oil Corporation to develop projects such as the Changbei tight gas, ensuring resource supply.The midstream and downstream network operates over 1,700 gas stations, more than 1,000 charging terminals, and five lubricant plants that cover the nation's needs.The flagship project, the China SEA Shell HPCCC Phase III Ethylene Project in Huizhou, officially commenced construction in 2023 with a total investment of 52.1 billion yuan. It is planned to have an ethylene capacity of 1.6 million tons per year. Upon completion, it will become one of the largest cracker facilities globally and will introduce new technologies such as alpha-olefins, promoting the localization of high-end chemical products in China.The significance of the Huizhou Phase III project lies not only in its production capacity leap (with total ethylene capacity reaching 3.8 million tons/year upon full operation) but also in its technological breakthroughs and low-carbon attributes. The project integrates energy efficiency improvements and carbon reduction technologies, aligning with China's "dual carbon" goals. Additionally, it addresses domestic supply gaps for high-end polyolefins and other products, driving structural upgrades in the petrochemical industry.Strategic Logic: From "Scale Expansion" to "Value Creation"Shell's adjustments reflect the common choices made by international energy giants in the transition period.Optimize the asset portfolio: divest low-return traditional assets, focus on natural gas, new energy, and high-value-added chemical products.Regional Market Rebalancing: Southeast Asia focuses on trade and terminal services, while China leverages its massive domestic demand and policy support to become a landing point for technology-intensive capacity.Low-carbon technology positioning: Seize the opportunity in new energy infrastructure through innovative processes and charging network construction in the Huizhou project.Despite its clear strategy, Shell still faces multiple challenges: intensified competition due to capacity expansion by local Chinese petrochemical companies; the impact of electric vehicle proliferation on traditional fuel business; and supply chain risks amid geopolitical fluctuations. However, its deep integration with Chinese partners through joint ventures, coupled with continued investment in low-carbon technologies, may give it a unique advantage in the transition between new and old energy dynamics in the Asia-Pacific energy market."Shell's 'balance between advancement and retreat' is both an inevitable choice for companies adapting to the global energy revolution and a firm vote of confidence in the long-term growth potential of the Chinese market. At the intersection of traditional energy and new energy, how to balance short-term gains with long-term transformation will be a common test for all international energy companies. And Shell's significant investment in China may have already provided a key reference answer for the industry."