Packaging Giant Sealed Air to Be Acquired! EU Imposes High Tariffs on Chinese Adipic Acid; BASF Partners with ExxonMobil

International News Guide

Raw Material News - EU Issues Preliminary Anti-Dumping Ruling on Chinese Adipic Acid, with Rates Up to 46.8%

Automotive News - EU End-of-Life Vehicle Regulation Negotiations Enter Final Stage, Focusing on Balancing Circular Economy and Industrial Development

Packaging News - $6.2 Billion Mega Acquisition: Sealed Air May Be Privatized by CD&R

Additive News - Clariant Catalysts Partners with SECCO to Expand CLARITY™ Flagship Digital Services in China

Macroeconomic News - Goldman Sachs Asset Management's Latest View: Fed May Cut Rates Twice in 2026

Price Information - Ethylene Asia: CFR Northeast Asia USD 735/ton; CFR Southeast Asia USD 725/ton

Details of International News

1.$6.2 Billion Mega Acquisition: Sealed Air May Be Privatized by CD&R

Sealed Air Corporation, a global leader in food and protective packaging solutions, recently announced that it has reached a definitive agreement to be acquired by funds managed by private equity firm Clayton, Dubilier & Rice (CD&R) for approximately $6.2 billion in cash, representing a per-share price of $42.15.

According to the press release, the total enterprise value of the transaction is $10.3 billion. The transaction has been approved by Sealed Air's board of directors and is expected to close in mid-2026, subject to regulatory approvals and shareholder consent. Sealed Air will be delisted from the New York Stock Exchange and become a private company.

The agreement allows Sealed Air to actively seek other acquisition offers during a 30-day "go-shop" period ending on December 16.

2.Continental and INEOS Inovyn Lead CO₂ Emission Reduction Innovation for PVC Products

According to Plastmatch on November 18, ContiTech, a division of Continental Group, is taking a major sustainable development initiative by switching to INEOS Inovyn's NEOVYN™ PVC.

This transition marks a significant upgrade in Continental's material sustainability, as the new NEOVYN™ PVC has a product carbon footprint approximately 37% lower than the average level of traditional European PVC industry. This substantial emission reduction is a direct result of INEOS Inovyn's targeted decarbonization efforts, which mainly include integrating renewable energy (including hydropower, wind, and solar) and low-carbon hydrogen into its production processes.

3.EU End-of-Life Vehicle Regulation Negotiations Enter Final Stage, Focusing on Balancing Circular Economy and Industrial Development

As the trilogue negotiations on the End-of-Life Vehicle Regulation (ELVR) enter the final sprint stage, Europe stands at a historic crossroads—this is not only about the development direction of sustainable transportation in the future but will also profoundly impact the pattern of Europe's industrial base and global competitiveness.

The core dispute in the negotiations focuses on the recycled plastic content standard for new vehicles: 15%, 20%, or 25%? Behind this number lies the "baton" for circular economy investment in Europe's plastic and automotive industry chains over the next decade. The regulation is far more than simply setting recycling targets; it will become a key test of Europe's ability to simultaneously achieve circular transformation and enhance industrial competitiveness.

4.BASF and ExxonMobil Collaborate to Promote Industrialization of Methane Pyrolysis Technology

According to Plastmatch on November 18, ExxonMobil and BASF announced a strategic partnership to jointly develop methane pyrolysis technology, planning to build a demonstration plant at ExxonMobil's Baytown facility in Texas.

The two parties stated that this initiative is a key step toward providing commercial hydrogen solutions for the industrial sector. The Texas-based demonstration plant will utilize existing natural gas infrastructure to produce up to 2,000 tons of low-emission hydrogen and 6,000 tons of solid carbon products annually.

5.Stratasys Drives 3D Printing Development with New Materials, Faster Speeds, and Smarter Software Tools

Stratasys announced a series of innovations across its FDM, SAF, P3™ DLP, and software platforms, expanding material options, increasing productivity, and introducing new features to help manufacturers streamline additive production.

These new solutions will be showcased at Formnext 2025, held in Frankfurt, Germany, from November 18 to 21.

6.Toray's Carbon Fiber Business Slides Across All Four Major Application Markets

Recently, Japan's Toray Industries, Inc. released its financial results for the first half of fiscal year 2025 (April 1-September 30, 2025). The company achieved operating revenue of 1.23 trillion yen, a year-on-year decrease of 4.6%; core operating profit plummeted 14.2% to 67.9 billion yen; and profit attributable to owners of the parent company dropped sharply by 33.5% to 36.9 billion yen.

Toray stated that the performance changes are mainly due to the fact that while the U.S. economy remains strong, signs of slowdown have emerged; Europe's economic recovery has slowed; China's economic recovery has stagnated; and although Japan's economy is recovering slowly, affected by the uncertainty brought about by the policy shift of the Trump administration, commodity circulation delays and consumption contraction have occurred in some areas.

The carbon fiber composite materials division, a core business segment, attracted particular attention in the first half of the fiscal year. The division's operating revenue fell 11.4% to 135.4 billion yen, and core operating profit decreased 19.6% to 9.4 billion yen—both declines significantly higher than the group's overall level.

7.EU Issues Preliminary Anti-Dumping Ruling on Chinese Adipic Acid, with Rates Up to 46.8%

Recently, the European Commission issued an announcement, issuing a preliminary anti-dumping ruling on adipic acid originating from China. It initially ruled that the provisional anti-dumping duty rate for Chongqing Huafeng Chemical Co., Ltd. is 28.6%, for Tangshan Zhonghao Chemical Co., Ltd. is 46.8%, for other cooperating enterprises is 32.0%, and for other Chinese producers/exporters is 46.8%.

The EU Combined Nomenclature (CN) code for the involved products is ex 2917 12 00 (TARIC code: 2917 12 00 10). The dumping investigation period is from January 1, 2024, to December 31, 2024, and the injury investigation period is from January 1, 2021, to the end of the dumping investigation period. The announcement takes effect the day after its release.

8.Clariant Catalysts Partners with SECCO to Expand CLARITY™ Flagship Digital Services in China

On November 17, Clariant, a specialty chemicals company focused on sustainability, announced the signing of a ten-year cooperation agreement with SECCO Petrochemical Co., Ltd. to provide its CLARITY™ Flagship digital services.

The new customer will adopt the AI-driven catalyst performance monitoring platform to enhance the production efficiency of its 900,000-ton-per-year ethylene plant located in Jinshan District, Shanghai. Previously, CLARITY™ Flagship services were only available to Clariant's ammonia, methanol, and hydrogen production catalyst customers, and have recently been expanded to the ethylene industry. CLARITY and CLARITY™ Flagship are technically supported by Navigance, Clariant's digital solutions provider.

Overseas Macroeconomic Market

【Japanese Economist: Decline in Chinese Tourists Will Impact Japan's Economy】
The Ministry of Culture and Tourism announced on the 16th, reminding Chinese tourists to avoid traveling to Japan recently. Hidenori Kiuchi, a researcher at Nomura Research Institute, stated on the 16th that if the number of Chinese tourists visiting Japan drops sharply, Japan's gross domestic product will decrease by 0.36%, with an initial estimated economic loss of 2.2 trillion yen, equivalent to approximately 101.16 billion yuan.

【Goldman Sachs Warns of Return of Japan's Fiscal Risk Premium; Long-Term Bonds and Yen Expected to Face Pressure】

Goldman Sachs stated that as investors grow increasingly concerned that the Japanese government may launch a stimulus package larger than expected, Japan's "fiscal risk premium" is returning, putting pressure on long-term government bonds and the yen. Goldman Sachs pointed out that the market is worried that the Japanese government may abandon its commitment to annual budget balance and long-term fiscal goals.

【Goldman Sachs Asset Management's Latest View: Fed May Cut Rates Twice in 2026】Goldman Sachs Asset Management released its 2026 investment outlook report, mentioning that central bank policies in major markets may diverge. Given the weak labor market, Goldman Sachs Asset Management expects the Federal Reserve to cut interest rates twice in 2026. The European Central Bank may keep interest rates unchanged in the foreseeable future, while the Bank of England may resume interest rate cuts in December amid improved inflation, a relatively weak labor market, and potential tax hikes. Japan's high inflation and strong growth may prompt the Bank of Japan to raise interest rates, a direction further reinforced by recent political changes and a shift toward loose fiscal policy.

【Russian Post Resumes Partial Parcel Delivery Services to the U.S.】
Reporters learned that Russian Post has resumed some postal parcel services to the United States starting today. According to the latest regulations, delivery of gifts and samples worth less than $100 is now available, and document mailing services without enclosed products have also been restored. In August this year, Russian Post announced the suspension of parcel services to the U.S. due to adjustments in U.S. tariff policies.

【China Iron and Steel Association Signs MOU with ResponsibleSteel】
According to the China Iron and Steel Association, at the 30th United Nations Climate Change Conference (COP30) held in Belém, Brazil, the China Iron and Steel Association and ResponsibleSteel, a global multi-stakeholder organization, jointly signed a Memorandum of Understanding on cooperation.

【Cui Dongshu (CPCA): October Auto Consumption Reaches 425.5 Billion Yuan, Down 7% YoY】
On November 17, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a post that in October, the total retail sales of consumer goods reached 4.6291 trillion yuan, a year-on-year increase of 2.9%. Among them, auto consumption was 425.5 billion yuan, a year-on-year decrease of 7%, while retail sales of consumer goods other than automobiles were 4.2036 trillion yuan, an increase of 4.0%. From January to October, the total retail sales of consumer goods reached 41.2169 trillion yuan, an increase of 4.3%. Among them, auto consumption was 4.0009 trillion yuan, a year-on-year decrease of 0.2%, while retail sales of consumer goods other than automobiles were 37.2160 trillion yuan, an increase of 4.9%.

Price Information

The CNY/USD central parity rate was reported at 7.0816, an increase of 9 pips; the central parity rate of the previous trading day was 7.0825, the official closing price of the previous trading day was 7.1007, and the night session closing price of the previous day was 7.0994.

【Upstream Raw Material USD Market Prices】

Ethylene Asia: CFR Northeast Asia USD 735/ton; CFR Southeast Asia USD 725/ton.

Propylene Northeast Asia: FOB South Korea average USD 695/ton; CFR China average USD 725/ton.

North Asia refrigerated cargo CIF price: Propane USD 508-510/ton; Butane USD 529-531/ton.

South China (China) refrigerated cargo CIF price for early December: Propane USD 548-558/ton; Butane USD 533-543/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 508-510/ton; Butane USD 529-531/ton.

【LLDPE USD Market Prices】

Film: USD 830-855/ton (CFR Huangpu);

Injection Molding: USD 935/ton (CFR Huangpu).

【HDPE USD Market Prices】

Film: USD 860-905/ton (CFR Huangpu);

Injection Molding: USD 820-830/ton (CFR Huangpu);

Blow Molding (Hollow): USD 830-850/ton (CFR Huangpu);

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1030-1050/ton (CFR Huangpu);

Coating: USD 1190/ton (CFR Huangpu).

【PP USD Market Prices】

Injection Molding: USD 810-915/ton (CFR Huangpu);

Copolymer: USD 825-880/ton (CFR Nansha);

Film Grade: USD 990/ton (CFR Huangpu);

Transparent Grade: USD 1035-1065/ton (CFR Huangpu);

Pipes: USD 1100/ton (CFR Shanghai).