U.S. Imposes Tariffs on Chinese PP and Other Products! Xiamen Changsu's BOPA Line Lands in Indonesia; Henkel Acquires New Company

International News Highlights:

Material News - Breaking! U.S. Imposes Tariffs on Multiple Chinese Products, Rates Up to 1069.27%

Additives News - Henkel to Acquire ATP Adhesive Systems, a Swiss Leader in High-performance Water-based Specialty Tapes

Equipment News - Xiamen Changsu's First Overseas Brückner Line Lands in Indonesia, Accelerating Global Layout

Aviation News - Joby Aviation Establishes Second Factory in Ohio, Implementing Dual-site eVTOL Production Strategy

Macro News - ECB Governing Council Member Nagel: Interest Rate Path May Change Due to U.S. Tariff Hikes

Price Information - RMB/USD Central Parity Rate at 7.0014, Down 8 Pips


Below are the Details of International News:

Breaking! U.S. Imposes Tariffs on Multiple Chinese Products, Rates Up to 1069.27%

On January 20, 2026, U.S. Eastern Time, the U.S. Department of Commerce and the International Trade Administration issued consecutive decisions on anti-dumping and countervailing duty investigations targeting various Chinese products. The affected goods include polypropylene corrugated boxes, fiberglass door panels, hardwood and decorative plywood, L-lysine, and hard-shell capsules. The combined anti-dumping and countervailing duty rates imposed are as high as 1069.27%.

ADNOC Gas Signs $3 Billion, 10-Year LNG Supply Deal with Hindustan Petroleum

ADNOC Gas and its subsidiaries announced the signing of a landmark long-term liquefied natural gas (LNG) supply agreement with Hindustan Petroleum Corporation Limited (HPCL). Valued between $2.5 billion and $3 billion over a 10-year period, this Sales and Purchase Agreement (SPA) marks a significant step forward in the energy partnership between the UAE and India. It also underscores ADNOC Gas's growing position as a reliable LNG supplier in the rapidly expanding Asian market, particularly India.

The signing coincides with a state visit to India by UAE President Sheikh Mohamed bin Zayed Al Nahyan, during which he held talks with Indian Prime Minister Narendra Modi. This high-level interaction highlights the strategic importance of energy cooperation in the broader bilateral relationship, with LNG supplies playing a central role in ensuring long-term energy security.

Xiamen Changsu's First Overseas Brückner Line Lands in Indonesia, Accelerating Global Layout

As China's largest BOPA (Biaxially Oriented Polyamide) film producer and industry pioneer, Xiamen Changsu Industrial Co., Ltd. has successfully commissioned its first overseas BOPA production line. Previously, Xiamen Changsu has operated multiple Brückner mechanical nylon film stretching lines domestically. This overseas move represents a crucial step in its strategy to break into core markets and deepen its global footprint.

With the smooth commissioning of this new-generation biaxially oriented line in Indonesia, Xiamen Changsu will further solidify its global customer service capabilities and continue to unlock new market growth potential.

€49 Million! Borealis Ramps Up High-performance Polypropylene to Empower Packaging, Medical and Other Sectors

Borealis, a provider of polymer solutions, announced a strategic investment of €49 million (approximately $57.5 million) to expand Borstar Nextension polypropylene (PP) capacity at its production base in Burghausen, Germany. The company stated that this investment will scale up the commercial production of its next-generation single-site polypropylene (ssPP) products.

These products offer higher purity, superior processability, and enhanced product performance, enabling customers in key sectors such as packaging, healthcare, mobility, and fibers to meet dynamic market and regulatory requirements.

Henkel to Acquire ATP Adhesive Systems, a Swiss Leader in High-performance Water-based Specialty Tapes

Henkel recently announced that it has signed an agreement to acquire ATP Adhesive Systems, a Switzerland-based company, from Arsenal Capital Partners. ATP Adhesive Systems is a leading provider of high-performance water-based specialty tapes, with products widely used in automotive, electronics, medical, construction, and advertising end markets.

With operations across Europe and North America and approximately 700 employees, ATP Adhesive Systems expects sales of around €270 million for fiscal year 2025. The acquisition is subject to customary closing conditions, including regulatory approvals. The parties have agreed not to disclose the financial terms of the transaction.

Vioneo Terminates €1.5 Billion Antwerp Project; First Commercial Green Polyolefin Plant to be Built in China

Vioneo, a subsidiary of AP Møller Holding, has abandoned plans to build a €1.5 billion green polyolefin project in Antwerp, Belgium, and instead plans to establish its first commercial-scale plant in China.

In a statement released on its official website on January 16, the company said, "The company remains firmly committed to bringing fossil-free plastics to the market. Therefore, it will move forward with the construction of a more efficient production plant located in China near green methanol supplies as its first commercial-scale production base."

On January 20, Judy Hicks, Vioneo's Vice President of Corporate Affairs, told Chemical Week that a specific location in China has not yet been selected, adding that the decision to change the project location was made at the end of 2025. Hicks stated that the original timeline, capacity, investment scale, and technology partners for the renewable olefins and polyolefins project remain unchanged.

The 310,000-ton-per-year green polymer complex is scheduled to start production in late 2029 or early 2030, which is consistent with Vioneo's recent statement but later than the original plan announced by AP Møller in September 2024, which targeted commercial operation as early as 2028.

Joby Aviation Establishes Second Factory in Ohio, Implementing Dual-site eVTOL Production Strategy

Joby Aviation Inc. (Santa Cruz, California, USA) signed an agreement to acquire a second production facility in Dayton, Ohio, spanning over 700,000 square feet (approximately 65,000 square meters). The facility is immediately operational and will initially support Joby's goal of doubling production capacity to four aircraft per month by 2027, while reserving space for future large-scale expansion.

The new factory will complement its existing production bases in California and Ohio and is expected to commence operations in 2026.

UK-based Infineum and China's Rianlon Sign Strategic Framework Agreement

Infineum, a UK-based global leading supplier of lubricant additives and specialty chemicals company, and Rianlon, a comprehensive specialty chemicals manufacturer headquartered in Tianjin, China, signed a strategic cooperation framework agreement on January 20, 2026, following the grand groundbreaking ceremony of Rianlon's R&D and production base in Johor, Malaysia.

This strategic cooperation fully integrates Infineum's technical advantages in global formulation development with Rianlon's expanding strengths in single-agent R&D and manufacturing. It is a solemn commitment by both parties to cooperate in providing excellent lubrication technologies, products, and services for the lubricant industry, supporting the rapid upgrading of the automotive, marine, and industrial equipment sectors in China and surrounding regions.

Overseas Macro Market:

ECB Governing Council Member Nagel: Interest Rate Path May Change Due to U.S. Tariff Hikes

Joachim Nagel, Member of the ECB Governing Council and President of the Deutsche Bundesbank, stated that the prospect of new U.S. tariffs could force policymakers to reassess whether the easing cycle has ended.

When asked in an interview on Wednesday about the potential impact of tariffs threatened by U.S. President Donald Trump on the outlook for borrowing costs, Nagel noted that such a scenario could harm the euro economy and prompt a reaction from policymakers.

Speaking on the sidelines of the World Economic Forum in Davos, Nagel said: "The current tariff situation is already having a negative impact on economic growth—roughly minus 0.1 percentage points. If there is an escalation in this regard, the negative impact will undoubtedly be greater."

Indonesian Rupiah Erases Losses; BI Plans Further Market Intervention

The Indonesian rupiah erased earlier losses as Bank Indonesia (BI) announced it would keep interest rates unchanged and planned to increase market intervention to guide the rupiah stronger. The USD/IDR fell 0.1% to 16,935.

China Responds to Whether It is Considering Trade Talks with the U.S.

On January 21, Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. A Bloomberg reporter asked: U.S. Trade Representative Greer stated in Davos that he hopes to hold another round of potential trade talks with China. Are China and the U.S. considering holding such a meeting, and where will it be held?

"Regarding your question, I suggest you refer it to the competent Chinese authorities. China and the United States should jointly implement the important consensus reached by the two heads of state and inject more stability and certainty into China-U.S. economic and trade cooperation and the world economy," Guo Jiakun said.

Macron Calls on China to Increase Investment in Europe; MFA: Hopes EU Creates a Fair and Non-discriminatory Market Environment for Chinese Enterprises

On January 21, Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference. A reporter from Dubai-based CGTN Arabic asked: French President Emmanuel Macron said in his speech at Davos that "China is welcome, and we need more Chinese direct investment in Europe." What is China's view on President Macron's statement?

Israel Says It Will Join Gaza "Peace Committee"

The Israeli Prime Minister's Office announced on the 21st local time that Israel will join the Gaza "Peace Committee" proposed by Trump.

Price Information:

RMB/USD Central Parity Rate at 7.0014, Down 8 Pips

The RMB/USD central parity rate was set at 7.0014, down 8 pips; the previous trading day's central parity was 7.0006, the previous trading day's official closing price was 6.9603, and the previous night session closed at 6.9598.

Upstream Raw Material USD Market Prices

CFR Northeast Asia is at 710 U.S. dollars per ton, and CFR Southeast Asia is at 690 U.S. dollars per ton. Northeast Asia propylene FOB Korea averages 745 U.S. dollars per ton, and CFR China averages 800 U.S. dollars per ton. North Asia refrigerated cargo CIF prices are 558 to 558 U.S. dollars per ton for propane and 575 to 578 U.S. dollars per ton for butane. China South China refrigerated cargo CIF prices for early February arrival are 599 to 609 U.S. dollars per ton for propane and 594 to 604 U.S. dollars per ton for butane. Taiwan refrigerated cargo CIF prices are 555 to 558 U.S. dollars per ton for propane and 575 to 578 U.S. dollars per ton for butane.

LLDPE USD Market Prices

Film is priced at 785 U.S. dollars per ton (CFR Xiamen); Injection is priced at 880 U.S. dollars per ton (CFR Xiamen).

HDPE USD Market Prices

Film is priced at 890 U.S. dollars per ton (CFR Huangpu); Injection is priced at 770 U.S. dollars per ton (CFR Huangpu); Blow molding ranges from 795 to 840 U.S. dollars per ton (CFR Huangpu); Pipe is priced at 1000 U.S. dollars per ton (CFR Huangpu).

LDPE USD Market Prices

Film is priced at 1010 U.S. dollars per ton (CFR Huangpu); Coating is priced at 1210 U.S. dollars per ton (CFR Huangpu).

PP USD Market Prices

Injection is priced at 800 U.S. dollars per ton (CFR Dongguan); Copolymer is priced at 860 U.S. dollars per ton (CFR Nansha); Film is priced at 960 U.S. dollars per ton (CFR Huangpu); Transparent is priced at 1005 U.S. dollars per ton (CFR Huangpu); Pipe is priced at 1100 U.S. dollars per ton (CFR Shanghai).