【Overseas Highlights】US Announces Withdrawal From US-Mexico-Canada Trade Agreement! Mitsui Chemicals Acquires US Haoshi; Porsche China Major Withdrawal

Top News Briefing:

Raw Material News-Syensqo partners with Bucci Composites to advance mass production of automotive composites

Medical NewsMitsui Chemicals acquires U.S. company HAOCHI for 6.1 billion yuan.

Automotive NewsPorsche China is making a massive withdrawal! A crazy large-scale closure of stores: only 80 dealers left in the country this year.

Electronics & Electrical Appliances – TOPAS launches a new corneal lens storage system based on cyclic olefin copolymer (COC), enabling long-term preservation.

Macro NewsBreaking News! The United States Announces Its Withdrawal from the USMCA Trade Agreement

Pricing Information-

Below are the details of international news:

1.Syensqo joins forces with Bucci Composites to advance mass production of automotive composite materials

On June 30, Syensqo announced that it had entered into a partnership with Bucci Composites, a leading designer and manufacturer of structural composite components based in Faenza, Italy. The agreement includes the licensing of Syensqo’s composite molding process—double diaphragm forming (DDF) technology.

Suesco stated that this collaboration aims to upgrade the manufacturing process of automotive composite materials and work jointly with major OEMs to complete certification of matching material solutions.

2.Mitsui Chemicals acquires American company Haoshi for 6.1 billion.

Mitsui Chemicals, Japan’s third-largest chemical company, recently officially announced that its wholly owned U.S. subsidiary MCA will establish a new holding entity to fully acquire all equity and operating assets of U.S. dental company Ultradent for US$900 million (approximately JPY 144 billion, or RMB 6.094 billion). Ultradent’s Guangzhou subsidiary, Guangzhou Haochideng Medical Devices Co., Ltd., will also be incorporated into Mitsui Chemicals’ global oral healthcare business portfolio. The transaction is expected to be fully completed by September 2026, subject to approval by regulatory authorities in multiple countries.

This acquisition is the largest M&A deal in Mitsui Chemicals’ history, and a key move by the diversified chemical company—now undergoing a sweeping transformation—to bet on the high-value-added life and healthcare sector. Once integration is complete, Mitsui Chemicals’ dental business will leverage the synergy between its two brands, Germany’s Kulzer and Ultradent, to fill gaps in whitening, equipment, and North American channels. The company has made its goal clear: to become the world’s second-largest dental materials group in the future, significantly narrowing the gap with industry leaders such as 3M and Dentsply Sirona.

3.TOPAS launches a new corneal lens storage system based on cyclic olefin copolymer (COC) for long-term preservation.

Engineers and product developers engaged in the research and development of biomedical implant storage and delivery systems can now evaluate a new corneal lens storage system made from TOPAS® cyclic olefin copolymer (COC).

This system is developed by a dedicated R&D team.Organization augmentation technologyDeveloped by Allotex, a company specializing in vision correction technology that restores eyesight using the body’s natural tissue, in collaboration with the TOPAS Advanced Polymers business unit of Daicel High Performance Polymers (Daicel HPP).

This collaboration integrates Allotex’s expertise in human tissue implants with Daicel HPP’s materials science capabilities to develop a storage and delivery system that preserves tissue integrity, enhances product reliability, and ensures consistent clinical performance.

4.Porsche's major withdrawal from China! A large-scale store closure in China: only 80 dealerships left this year.

Porsche China recently confirmed that the Porsche Centers in Jining, Shandong; Huai'an, Jiangsu; and Xingning, Nanning, Guangxi terminated their dealership operations on June 30. The Porsche Center in Wuhu, Anhui will terminate sales operations on July 31, while after-sales service will continue to operate normally.

Porsche China’s official website shows that it currently oversees 116 Porsche Centres, and the number will decrease further after this adjustment. Porsche China said that, in the face of challenges brought by the market environment and the transformation of the automotive industry, it will continue to deepen its “quality over quantity” strategy and further integrate its dealer network in China.

The number of dealers has been reduced from 150 in 2025 to 114, with a target of 80 in 2026.

Porsche has not only closed its sales channels but also shut down its self-built charging network in China.The total number of self-built high-power DC exclusive charging stations is approximately 200, with a construction cost of 1.2 million to 2 million yuan per station. Operations will gradually cease starting from March 1, 2026.

Net profit of $125 million! LyondellBasell releases Q1 2026 financial report.

On June 30, LyondellBasell (LYB) released its Q1 2026 financial report. During the reporting period, the company achieved a net profit of $125 million, with diluted earnings per share of $0.38. Excluding $38 million in special items (primarily consisting of non-cash asset impairments and costs related to transactions and terminations, which impacted earnings per share by $0.11), the company's adjusted EBITDA for the quarter reached $615 million, indicating a robust overall performance.

6. Markforged Launches Chopped Glass Fiber-Filled Nylon for Color-Separation Tooling

Manufacturing engineers and fixture designers engaged in color-coded tooling and fixtures, error-proofing systems, and safety signage can now choose Onyx GF™, Markforged’s short chopped glass fiber-filled nylon material.

This material is available in six colors: red, yellow, blue, green, gray, and white. As an upgraded model in the Onyx™ series, it is produced by directly incorporating functional color masterbatch into the base material formulation, eliminating the need for subsequent spray painting, labeling, or other secondary processing steps.

7.Breaking: The United States announces its withdrawal from the USMCA.

According to a Reuters report on June 30, the Trump administration is expected to formally announce on Wednesday local time that it will not extend the United States-Mexico-Canada Agreement (USMCA), a move that will trigger a ten-year countdown to withdrawal and gradually bring an end to the 32-year-old North American free trade area.

U.S. President Trump has made it clear that he “does not intend to renew” it. Earlier, on June 10, Trump told reporters at the White House, “I do not intend to renew it.” He criticized the trade deficits with Canada and Mexico, saying that “the United States does not need anything they have,” while also noting that he is in communication with the leaders of both countries and that the terms could potentially be improved through negotiations.

July 1, 2026 is the “six-year review point” for the United States-Mexico-Canada Agreement. The three countries may choose to automatically extend it by 16 years (until 2036), or not to renew it.

If it is not renewed, the agreement will not terminate immediately, but will enter a 10-year annual review period (2026–2036). During this period, either party may withdraw by giving 6 months’ prior notice, and the agreement will finally expire in full on July 1, 2036.

The following is the overseas macro market:

[Indirect technical talks between the United States and Iran are underway in Doha]

On July 1 local time, reporters learned that, according to informed sources, the United States and Iran are holding indirect technical talks in Doha, Qatar, with Qatar and Pakistan serving as mediators.

Yen traders prepare for the exchange rate to move toward 163–165, with the 170 level also coming into view.

The yen is falling toward 163 against the dollar for the first time since 1986, and options trading suggests traders are preparing for further declines. Traders favor call options at 161-163, reflecting both the currency pair’s upward momentum and the risk that Japanese officials may further push back against exchange-rate gains. Positioning analysis also indicates that some investors see 165 as the next line in the sand drawn by the authorities. The next major technical resistance level is 164.50, the November 1986 high. In the second half of June, demand for options with strike prices at 165 and above increased significantly, while demand for strikes at 170 and above also came into focus in the final week of the month.

Foreign media: Afghanistan says it launched airstrikes on targets inside Pakistan, while Pakistan says it shot down four drones.

According to reports from Reuters, the BBC, and other media on July 1, the Afghan Ministry of Defense stated that it conducted airstrikes on targets within Pakistan. The Pakistani side reported that it intercepted and shot down four simple drones in the country's Balochistan province.

[Iranian official: The era of U.S. interference in regional affairs has ended]

On June 30 local time, Ebrahim Azizi, chairman of the Iranian Parliament’s National Security and Foreign Policy Committee, said that the era of U.S. interference in the internal affairs of regional countries is over. Azizi said that control over the Strait of Hormuz is in Iran’s hands. In addition, he said safeguarding Lebanon’s sovereignty should be achieved by ending Israel’s occupation and aggression.

[US media reports that the US will deploy troops in Lebanon and Israel to monitor the ceasefire]

On June 29, the U.S. *Washington Post* reported, citing sources, that the United States will station ground forces in Lebanon and Israel to directly monitor the actions of the Lebanese Armed Forces and the Israel Defense Forces. The unnamed U.S. official said this would allow the United States to exert the necessary pressure on both Lebanon and Israel to ensure they fulfill the commitments under the trilateral U.S.-Lebanon-Israel framework agreement. He also disclosed that U.S. Central Command Commander Brad Cooper will not directly oversee both sides, but Central Command officials will be responsible for reporting any violations of the agreement and referring them to the White House for handling.

Here is the pricing information:

The central parity rate of the RMB against the USD has reached a new high since February 10, 2023.

The central parity rate of the RMB against the U.S. dollar was set at 6.8067, up 42 basis points; the previous trading day's central parity rate was 6.8109, the previous trading day's official closing price was 6.7852, and the previous night session closed at 6.7880.

[Upstream Raw Material USD Market Price]

On June 30, CFR Northeast Asia ethylene was steady at USD 815/ton, and CFR Southeast Asia was steady at USD 790/ton.

The average FOB Korea propylene price in Northeast Asia rose by USD 40/ton to USD 890/ton, while the average CFR China price increased by USD 55/ton to USD 920/ton.

North Asia refrigerated cargo CIF prices: propane at USD 591–599/ton; butane at USD 591–599/ton.

South China refrigerated cargo CFR prices for July delivery: propane USD 637–647/mt; butane USD 657–667/mt.

Taiwan CFR refrigerated cargo prices: propane USD 591–599/ton; butane USD 591–599/ton.

[LLDPE USD Market Price]

Thin film: USD 940/ton (CFR Huangpu);

HDPE USD market price

Film: USD 1,080/ton (CFR Qingdao);

Hollow: USD 1,242/ton (CFR Yantian);

Injection molding: $1210/ton (CFR Yantian);

[LDPE USD Market Price]

Thin film: USD 1,250/ton (CFR Huangpu);

[PP USD Market Price]

Average aggregation: $1200/ton (CFR Huangpu);

Copolymer: USD 1,200/ton (CFR Nansha);

Film material: USD 1,480/ton (CFR Huangpu);

Transparent: USD 1,440/ton (CFR Huangpu).