U.S.-Thailand Reciprocal Trade Framework Agreement Announced; Trinseo's Q3 Profit Declines; Canada's New Car Sales Fall in October

International News Guide

Raw Material News - Tariffs and Overcapacity Drag Down Market; Trinseo's Q3 Profit Declines

Automotive News - Canada's New Car Sales Drop 1.8% YoY in October

Packaging News - Australia's New South Wales Announces Next Phase of Plastic Ban, Covering Bread Tags and Pizza Savers

Medical News - H&T Presspart Acquires Majority Stake in U.S. Private MedTech Firm Plas-Tech

Other News - aevoloop Secures €8.25 Million in Funding to Advance Circular Biodegradable Plastic Technology

Macroeconomic News - U.S.-Thailand Reciprocal Trade Framework Agreement Announced

Price Information - Ethylene Asia: CFR Northeast Asia USD 740/ton; CFR Southeast Asia USD 730/ton

Details of International News

1. Tariffs and Overcapacity Drag Down Market; Trinseo's Q3 Profit Declines

According to Plastmatch on November 10, Trinseo recently released its financial results for the third quarter of 2025.

The company stated that the year-on-year decline in revenue and profit was due to lower sales across all business segments, as well as compressed profit margins in the Polymer Solutions and Latex Binders segments, especially in the European market.

Trinseo noted that tariff uncertainty has exacerbated market weakness, and mentioned signs of industrial reshoring in Europe and the United States. The company reported a net loss of $110 million in the quarter, wider than the $87 million loss in the same period last year; sales fell 14% YoY to $743 million.

Adjusted net loss was $87 million, an increase from the $58 million loss in the same period last year, and lower than the $70 million loss expected by analysts surveyed by S&P Capital IQ. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $30 million, a YoY decline from $66 million in the same period last year.

"The third-quarter sales reflect the market demand conditions over the past three years," said Frank Bozich, President and CEO of Trinseo. "In 2025, tariff uncertainty has disrupted trade flows, negatively impacting consumer and customer confidence and leading to a further deterioration of the market environment. However, demand for our formulated products has grown from the end of the third quarter to the fourth quarter. This may indicate that European and American customers are starting to reshore some demand, but it is too early to assert that this is a long-term trend."

2. Australia's New South Wales Announces Next Phase of Plastic Ban, Covering Bread Tags and Pizza Savers

Plastic bread tags and pizza savers will soon be removed from the list of plastic items used in Australia's New South Wales (NSW), as the state advances its ban on single-use plastics to curb pollution and protect the environment.

These changes are part of the next phase of NSW's Plastic Plan, a long-term strategy that has already eliminated items such as plastic straws, cutlery, and lightweight shopping bags. The new phase targets "unnecessary and hard-to-recycle plastic products" and will be rolled out in phases from next year to 2030.

The move comes amid growing global concerns about microplastics, which are increasingly found in waterways, wildlife, and even the human body. Plastic bread tags and pizza savers will be phased out. (Photo: NSW Government)

Penny Sharpe, Minister for the Environment, said the updated plan aims to protect people and the planet.

3. H&T Presspart Acquires Majority Stake in U.S. Private MedTech Firm Plas-Tech

H&T Presspart, a drug delivery device manufacturer under the Heitkamp & Thumann Group, recently announced that it has reached an agreement to acquire a majority stake in Plas-Tech Engineering.

Headquartered in Lake Geneva, Wisconsin, Plas-Tech Engineering is a private medical technology company that designs, develops, and manufactures parenteral syringe systems and medical devices for the pharmaceutical and biotechnology industries. According to the press release, the company leverages advanced molding technologies and design-for-manufacturing expertise to accelerate the time-to-market of complex products.

This acquisition expands the U.S. manufacturing footprint of Germany-based H&T Presspart. Headquartered in Marsberg, the company operates manufacturing facilities in Germany, Spain, Switzerland, and the United Kingdom, with sales representative offices in China, India, the United States, and Uruguay.

4. aevoloop Secures €8.25 Million in Funding to Advance Circular Biodegradable Plastic Technology

According to Plastmatch on November 10, Leipzig-based chemical startup aevoloop has raised approximately €3.25 million in a seed round of financing.

Coupled with nearly €5 million in funding support from the EU and the Free State of Saxony, the company is now taking a key step toward launching its circular technology to the market. This technology can produce high-performance, chemically recyclable, and biodegradable plastics, combining the advantages of traditional polymer materials with true circularity for the first time.

5. Meraxis to Acquire REHAU's Compounding Plant in Velen

By acquiring production and development capabilities, Meraxis is reaching the next milestone in its corporate strategy and setting an example for sustainable growth.

The Swiss distributor will take over REHAU's compounding plant in Velen (North Rhine-Westphalia) on January 1, 2026. With an annual production capacity of approximately 50,000 tons, the plant produces PP, PE, and PVC compounds for industries such as automotive, medical, and furniture, which Meraxis will now exclusively distribute.

6. Canada's New Car Sales Drop 1.8% YoY in October

According to foreign media reports, the latest data from Canadian automotive market research firm DesRosiers Automotive Consultants shows that Canada's new car sales in October fell 1.8% year-on-year to 159,000 units.

Despite the decline, DesRosiers still considers Canada's new car sales to be "generally healthy." However, the monthly new car sales figures are estimates, as only 10 automotive brands release their Canadian sales data monthly.

Among them, Toyota recorded the largest sales increase in Canada in October, reaching 20,284 units, a YoY rise of 17.4%. Honda saw the biggest sales drop, falling 13.7% to 10,313 units.

Overseas Macroeconomic Market

【5 Ministries Including MOFCOM Adjust "Catalogue of Precursor Chemicals Subject to Export Control to Specific Countries (Regions)" and "Catalogue of Specific Countries (Regions)"】

The Ministry of Commerce (MOFCOM), the Ministry of Public Security, the Ministry of Emergency Management, the General Administration of Customs, and the National Medical Products Administration have decided to adjust the "Catalogue of Precursor Chemicals Subject to Export Control to Specific Countries (Regions)" and the "Catalogue of Specific Countries (Regions)". The United States, Mexico, and Canada are added to the "Catalogue of Specific Countries (Regions)", and 13 precursor chemicals targeting the above three countries are separately added. (MOFCOM Website)

【Did FBI Director Visit China Last Week to Discuss Fentanyl Issues with Chinese Officials? MOFA: No Information Available】
On November 10, Foreign Ministry Spokesperson Lin Jian hosted a regular press conference. A Reuters reporter asked: According to reports, FBI Director Kash Patel visited China last week and discussed fentanyl and law enforcement issues with Chinese officials. Can China confirm this?

In response, Lin Jian said: "I have no information about the situation you mentioned."

【U.S.-Thailand Reciprocal Trade Framework Agreement Announced】

According to Thai media reports, the White House official website released the "Joint Statement on the Framework of the U.S.-Thailand Reciprocal Trade Agreement" on October 26.

Key contents include: Thailand will eliminate tariff barriers on 99% of goods, covering all U.S. industrial products, food, and agricultural products. The United States will maintain a reciprocal tariff of 19% on Thai goods, but goods listed in Annex III of White House Executive Order 14346 "Potential Tariff Adjustments for Partner Countries" issued on September 5 will be subject to zero tariffs.

【Mizuho: Expectations of U.S. Government Shutdown Resolution Rise, Yen Depreciation Pressure Intensifies】

Mizuho Securities strategists Masafumi Yamamoto and Masayoshi Mihara stated that as market expectations for the imminent end of the U.S. government shutdown grow, risk aversion has eased, and yen selling pressure is accelerating.

Many market participants believe the shutdown will end by Thanksgiving at the latest, and possibly as early as this week.

【Goldman Sachs Says U.S. Investors Are Flooding into Japanese Stocks, Attracted by Outperformance vs. U.S. Stocks】

According to Goldman Sachs Group, U.S. investors are increasingly buying Japanese stocks, focusing on the technology and artificial intelligence (AI) sectors, attracted by Japan's stock market's high returns relative to U.S. stocks.

"U.S. capital inflows are currently growing at the fastest pace since the implementation of Abenomics," said Bruce Kirk, Chief Japan Equity Strategist at Goldman Sachs. Kirk noted that U.S. investor participation in the Japanese stock market has reached its highest level since October 2022, and he frequently receives requests for face-to-face meetings.

【Russia Claims to Thwart Ukrainian Forces' Breakout in Krasnohorivka; Ukraine Says Fighting Continues】

According to CCTV News, the Russian Ministry of Defense released a battle report on the 9th stating that Russian troops launched offensive operations in multiple directions on the frontline and took control of the settlement of Rebnoye in the Zaporizhzhia region.

In addition, in Krasnohorivka (known as Pokrovsk in Ukraine) in the Donetsk region, Russian assault detachments carried out offensive operations against besieged Ukrainian troops. Russian forces also repelled 7 Ukrainian attacks launched northwest of Krasnohorivka and thwarted 8 attempts by trapped Ukrainian troops to break out northward.

Price Information

The CNY/USD central parity rate was reported at 7.0856, a decrease of 20 pips; the central parity rate of the previous trading day was 7.0836, the official closing price of the previous trading day was 7.1225, and the night session closing price of the previous day was 7.1210.

【Upstream Raw Material USD Market Prices】

Ethylene Asia: CFR Northeast Asia USD 740/ton; CFR Southeast Asia USD 730/ton.

Propylene Northeast Asia: FOB South Korea average USD 710/ton; CFR China average USD 730/ton.

North Asia refrigerated cargo CIF price: Propane USD 489-492/ton; Butane USD 510-513/ton.

South China (China) refrigerated cargo CIF price for early December: Propane USD 541-551/ton; Butane USD 526-536/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 489-492/ton; Butane USD 510-513/ton.

【LLDPE USD Market Prices】

Film: USD 830-860/ton (CFR Huangpu);

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

【HDPE USD Market Prices】

Film: USD 860-900/ton (CFR Huangpu);

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

Blow Molding (Hollow): USD 830-860/ton (CFR Huangpu);

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

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

Coating: USD 1280/ton (CFR Huangpu).

【PP USD Market Prices】

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

Copolymer: USD 825-860/ton (CFR Nansha);

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

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

Pipes: USD 1100/ton (CFR Shanghai).