[International News] ADNOC's XRG Completes Acquisition of Covestro! China and EU Resume Electric Vehicle Tariff Negotiations

Headline Summary:

Raw Material News-ADNOC XRGAcquisition of Covestro completed, embarking on a new journey of strategic cooperation.

Car News- China and the EU resume negotiations on electric vehicle pricing commitments, replacing high tariffs with a minimum pricing plan.

Packaging News-Fengou Huichuan launches bio-based black pigment to replace carbon black in packaging.

Electronic News-Dongli launches advanced anti-static solutions in the electronics field.ABS

Macroeconomic News-The United States signed an agreement with eight countries, including Japan, South Korea, and Australia, to strengthen the rare earth supply chain, and the Ministry of Foreign Affairs responded.

Price Information-CFRNortheast Asia745 / CFRSoutheast Asia725 /

The following are details of international news:

1.ADNOC XRGCompleted the acquisition of Covestro, opening a new chapter in strategic cooperation.

The investment group headquartered in Abu DhabiXRG P.J.S.C. ADNOC International Limitedand its subsidiaries, hereinafter referred to as "XRGThe voluntary public acquisition of Covestro AG has been officially completed, marking an important step for the group in its journey toward becoming one of the top three chemical investment companies in the world.

XRGConfirmed the acquisition has been completed, and all relevant agreements have been signed upon obtaining the approvals from the relevant regulatory authorities. As part of the transaction,XRGInject capital into Covestro through the planned capital increase.11.7100 million euros to strengthen the financial position of the German manufacturer under the new equity structure.

2.BASF, San Fang Chemical, and LIGOO Advanced Materials collaborate to promote circular economy in the footwear industry by launching new thermoplastic polyurethane film.

12 11 BASFSanfang Chemical Industrial Co., Ltd. (abbreviated as)"Mitsubishi Chemical" and Advanced Material Technology Co., Ltd. (referred to as "Advanced Material Technology") signed a memorandum of understanding.MoU), aiming to collaboratively develop sustainable solutions for the footwear industry, with a focus on thermoplastic polyurethane (TPUProducts that help achieve common goals.2050 Annual net zero emissions target. The first milestone of this cooperation is to launch standards that comply with global recycling standards.GRS(certified by)TPU Thin film, this product combines excellent performance with environmental friendliness.GRS It is an internationally recognized certification system used to verify the use of recycled content in products. It provides a reliable framework for tracking the recycled material content throughout the entire supply chain, ensuring transparency and integrity in the whole process.

3.Dongli launches advanced anti-static technology in the electronics field.ABS

Specialized Plastic Vision12 12It was reported that Toray announced the successful development of its subsidiary.ToyolacparelAcrylonitrile-Butadiene-StyreneABSThe new anti-static version of the resin. It is reported that the surface resistivity of this material reaches10⁹Ω/Square (10^9 ohms per square), the antistatic performance is of the company's traditional products.5The new grade is specifically designed for trays, housings, and other handling equipment required for semiconductor and electronic device manufacturing, aiming to reduce the risk of product damage or defects caused by static electricity, dust, and other contaminants. Toray stated that they plan to provide samples to customers starting from the next fiscal year and will continue to advance related research and development efforts.

4.UPM introduces bio-based black pigment to replace carbon black in packaging.

Finnish packaging company UPM.UPMThe company, based in Helsinki, announced the launch of a recyclable black pigment made from lignin, targeting the sustainable packaging application sector.12 11 The day indicates that this bio-based pigment possesses near-infrared (NIRDetectability and recyclability. UPM plans to mass-produce this eco-friendly black pigment at its biorefinery in Leuna, Germany. The investment in the biorefinery project amounts to13 100 million euros, currently under construction, it will use sustainably sourced hardwood as raw material to produce various biochemical products once operational.

5.Focusing on color masterbatches and high-performance additives!Formerra UnionTechmer PM Upgrade product

High-performance materials distributorFormerra announced a significant partnership with Techmer PM, a U.S. manufacturer of plastic compounds. Techmer PM specializes in the research and production of masterbatches, high-performance additives, and pre-colored compounds. Both parties stated that this collaboration will further enrich Formerra's product portfolio and help it better meet the increasingly diverse needs of customers in the North American region.

6.CelanesePOM ECO-CLevel product acquisitionISCCCarbon Footprint Certification

Celanese, a global leader in specialty materials and chemicals.CelaneseRecently announced that its production bases in Frankfurt, Germany, and Bishop, Texas, USA, produce...Hostaform® Celcon® POM ECO-CThe grade product has been certified by the International Sustainability and Carbon Certification organization.ISCCThe carbon footprint certification issued by the organization further expands Celanese's certified factory network, aiming to help customers reduce the carbon footprint of their products and accelerate the transition to a circular economy. This milestone showcases Celanese's commitment to sustainability and innovation.

7.China and the EU Resume Electric Vehicle Price Commitment Negotiations to Replace High Tariffs with Minimum Pricing Scheme

According to the European Union News Agency, local time12 11On [Date], Chinese Ministry of Commerce spokesperson He Yadong stated that negotiations with the EU regarding setting a minimum price for Chinese-made electric vehicles have resumed and will continue next week. The Chinese side urges the EU not to bypass the government and contact Chinese car companies individually. According to Reuters, the EU...27The member states had previously in2024 10The month approved the highest tax on electric vehicles in China.45.3%anti-subsidy tax (in addition to the original)10%Tariffs), China subsequently filed relevant lawsuits through the World Trade Organization and the European Court, stating that the advantages of Chinese car companies come from competitiveness rather than subsidies.

8.SKThe dissolution of the joint venture battery company with Ford in the U.S. suggests a shift in the landscape of the American electric vehicle industry.

Ford, the American automaker, and the Korean battery companySK InnovationThe dissolution of its battery manufacturing joint venture in the United States may indicate some significant changes in the American electric vehicle supply chain. A statement shows that.SK InnovationThe battery department under its umbrella.SK OnTake over located in Tennessee.BlueOval SKThe factory, while Ford will take over the joint venture's plant located in Kentucky. The separation is expected to be completed by2026Completion is expected by the end of the first quarter of the year, but approval from relevant departments is still required.

Overseas macro market:

[Two departments: Implement export license management for certain steel products]

According to the "Foreign Trade Law of the People's Republic of China," the "Regulations on the Administration of Import and Export of Goods," and the "Measures for the Administration of Export Licenses," the Ministry of Commerce and the General Administration of Customs have decided on the "Catalog of Goods Subject to Export License Management."2025Adjust the content mentioned above for the year.

 Ministry of Foreign Affairs: In an uncertain world China is the greatest certainty.

12 12On [date], Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. Guo Jiakun stated that "optimism about China" is increasingly becoming a consensus among all parties. In an uncertain world, China is the greatest certainty and will continue to be an important engine for global growth. We welcome countries to ride China's development express, share in China's large market, and achieve mutual success and common development through the integration of interests.

The United States detains a tanker transporting Venezuelan oil in nearby waters, and the Ministry of Foreign Affairs responds.

12 12On that day, Foreign Ministry spokesperson Guo Jiaqun hosted a regular press conference. A reporter asked about the recent detention by the U.S. military of a tanker transporting Venezuelan oil in the waters near Venezuela, and the announcement by the U.S. Treasury Department of sanctions against ships flying the Hong Kong flag, among others.6The oil tanker has been subjected to sanctions. What is China's comment on this? Guo Jiakun stated that China firmly opposes illegal unilateral sanctions and "long-arm jurisdiction" that lack a basis in international law and are not authorized by the United Nations Security Council, and opposes the arbitrary application of sanctions.

[The United States signs an agreement with Japan, South Korea, Australia, and other eight countries to strengthen the rare earth supply chain, the Ministry of Foreign Affairs responds.]

12 12On [insert date], Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. A reporter from Agence France-Presse asked a question: yesterday, the U.S. side, along with Japan, South Korea, Australia, etc.8The country has signed an agreement to strengthen the rare earth supply chain and proposed to compete with the Chinese side.AIRegarding the technology aspect. What is China's comment on this? In response, Guo Jiakun stated: "We have noted the relevant reports. All parties should adhere to the principles of market economy and fair competition, and jointly maintain the stability of global supply and production chains."

[Report: The Bank of Japan may not release its latest estimate of neutral interest rates next week.]

Reuters, citing sources, reported that the Bank of Japan may maintain its commitment to raising interest rates next week, with the pace of rate hikes depending on the economy's reaction to each increase. The Bank of Japan may not release the latest estimates on the neutral rate nor use it as the primary communication tool for timing rate hikes.

Zelensky: Ukraine and Russia should withdraw troops from Donetsk based on the principle of equality.

Ukrainian President Zelensky11The day confirmed that Ukraine has submitted a revised Ukraine-Russia "peace plan" to the United States.20The framework agreement was pointed out, and it was stated that the U.S. side still requires Ukraine to make significant concessions on territorial issues, while the Ukrainian side advocates for a reciprocal withdrawal of troops by Russia and Ukraine in the Donetsk region. Zelensky mentioned that there are still two major differences between the U.S. and Ukraine regarding the "peace plan" that need further discussion: one is the territorial and related issues in the Donetsk region, and the other is the "joint management" issue of the Zaporizhzhia nuclear power plant.

Price Information:

Upstream Raw Material US Dollar Market Price

CFRNortheast Asia745 / CFRSoutheast Asia725 /

Northeast Asia PropyleneFOBAverage price in South Korea.715 / CFRChina average price to750 /

North Asia CIF price, propane558-560 /Ton; Butane613-615 /

South China Frozen Goods1Cost, Insurance, and Freight (CIF) price for propane in the month.582-592 /Ton; Butane572-582 /

Taiwan region CIF price for frozen goods, propane558-560 /Ton; Butane613-615 /

【LLDPE USD Market Price

Thin film:790-810 / CFRHuangpu);

Injection molding:980 / CFRHuangpu);

【HDPEUSD market price

Thin film:880-895 / CFRHuangpu);

Injection molding: 780 / CFRHuangpu.

Hollow:820-825 / CFRHuangpu);

Pipe materials:1000 / CFRHuangpu);

【LDPEUSD market price

Thin film.990-1015 / CFRHuangpu);

Coating: 1050-1180 / CFR(Qingdao).

【PPUSD market price

Injection molding:785 / CFRHuangpu.

Coagulation:830-855 / CFRNansha.

Membrane material:970-985 / CFRHuangpu);

Transparent:1065 / CFRHuangpu.

Pipe==1100 / CFR(Shanghai).