US May Cut Tariffs On China! Weihai Hairun Overseas Base Successfully Test Runs! Tianjin Nangang's New Products Exported To South Korea For The First Time

International News Highlights:

Raw Material News-Pu Jie Energy Chemical: Thousands of Tons of Polyolefins Set Sail Overseas

Auto News-Tianjin Nangang Ethylene's New Polypropylene Product Exported to South Korea for the First Time

Packaging Highlights- 35% PCR recycled content! Mondi's new FlowWrap helps wet wipe packaging achieve closed‑loop recycling

Additives News- Hairun’s overseas production base successfully completes trial run, opening a new chapter in its overseas capacity layout!

Recycling Highlights-Mitsubishi Chemical completes demonstration project for chemical recycling of waste plastics from construction sites.

Medical News-Appraisal of a ring70 Billion! How Ōura Is Reshaping the Valuation Logic of Wearable Medical Devices

Macroeconomic Headlines-Iran’s Supreme Leader approves the establishment of a working group on the Strait of Hormuz issue.

The following is detailed international news.：

1、Toly transfer Soda Aromatic Equity Acquired by South Korea’s Samyang in a Completed Takeover

Toray (Japan) (Toray plans to sell all of its shares in Soda Aromatic through a equity transfer, officially exiting this aromatic-related joint venture. This asset disposal is part of Toray's strategy to streamline its global chemical assets and optimize its capital structure. The company continues to divest non-core aromatic raw material equity projects and focuses on high-value core businesses such as carbon fiber, high-end plastics, and lithium battery materials.

2、New polypropylene products from Tianjin Nangang Ethylene exported to South Korea for the first time

Recently, Tianjin Nangang Ethylene’s new polypropylene grade productThe reactor-grade thermoplastic polyolefin (r-TPO) product PPB-MP28 has been exported to South Korea for the first time, successfully entering the local high-end automotive raw materials market. Featuring excellent properties such as high impact resistance and low odor, the product is mainly used for modification processing and is applied in key components such as interior trim and bumpers for Korean-brand vehicles. To seize opportunities in overseas markets, the Nangang Ethylene sales team of Tianjin Petrochemical proactively engaged with customers and supported the product in passing customer application validation on the first attempt through enhanced communication and close follow-up on sample submission and performance testing, laying a solid foundation for further expansion into overseas automotive materials markets and improving the product’s international competitiveness.

3、Pujie Energy & Chemical: A Thousand Tons of Polyolefins Set Sail for Overseas Markets

Recently, carryingA fleet of trucks carrying 1,000 tons of "Pujie Energy Chemical" brand polypropylene product 548RQ has been dispatched from the Xiamen Xiangyu Logistics Park in Qingdao, Shandong, and is being transferred via Qingdao Port in two batches to multiple African countries, including Mozambique, Kenya, and Nigeria. The successful export of this product is a pragmatic measure taken by Pujie Energy Chemical to deeply implement the Belt and Road Initiative, marking the successful opening of a channel for polyolefin products to Africa and entering a new stage of large-scale overseas expansion, becoming an important breakthrough for the company in exploring international markets.

4、35% PCR Recycled Content! Mondi’s New FlowWrap Helps Wet Wipe Packaging Achieve Closed-Loop Recycling

Mondi, a global leader in sustainable packaging and paper, has officially launched re/loop FlowWrap, a recycled product designed specifically for wet wipe packaging, providing home and personal care manufacturers with a recyclable solution to replace traditional non-recyclable composite films. This mono-material, all-polypropylene (PP) form-fill-seal film contains 35% post-consumer recycled material (PCR), helping major brands meet increasingly stringent sustainability regulations while maintaining production efficiency. ThisNew materialsOvercoming a major industry challenge: upgrading wet wipe packaging to eco-friendly materials without altering chemical performance. Basis CEFLEX D4ACE recycling guidelines, re/loop FlowWrap adapts to mechanical recycling systems for polypropylene, and can be produced on existing packaging production lines, allowing manufacturers to replace raw materials without the need for extensive equipment modifications.

5、U.S. seeks public comments on list of tariff reductions for Chinese goods, with industrial and consumer products proposed for priority cuts.

Office of the United States Trade Representative (On June 2, 2026, the U.S. Trade Representative (USTR) published a notice in the Federal Register inviting the public to provide suggestions regarding the plans of the "U.S.-China Trade Committee." The primary goal is to gather opinions on reducing tariffs for specific categories of non-sensitive products that are expected to benefit from tariff reductions on both sides, thereby promoting a balanced and mutually beneficial bilateral trade relationship. The U.S. intends to restore the "most-favored-nation" tariff rate for some Chinese products, meaning no additional tariffs will be imposed. U.S. Trade Representative Katherine Tai pointed out that the Trump administration will work with various stakeholders to identify non-sensitive goods whose tariff reductions can bring tangible benefits to American farmers, ranchers, fishermen, small businesses, manufacturers, and workers. This indicates that the list of goods for tariff reduction will focus on agricultural products, low-end consumer goods (such as household items, toys, clothing, footwear, and decorations), low-end industrial products (certain non-sensitive parts in industrial equipment, such as medical devices and components), fireworks, and certain energy products.

6、Mitsubishi Chemical completes demonstration project for the chemical recycling of waste plastics from construction sites.

Mitsubishi Chemical, Kajima, Takenaka Corporation, Nippon Express (under Nippon Express Holdings)Refineverse and six other companies have jointly completed the “Demonstration Project for Chemical Recycling of Waste Plastics from Construction Sites.” This project was part of the public tender for the Ministry of the Environment of Japan’s “Support Project for Building an Advanced Social Implementation Model for Plastic Resource Recycling.”

7. WeihaiHaiRun Overseas Production Base Successfully Completed Trial Run, Marking a New Chapter in Overseas Capacity Deployment!

Located in the seaThe production base for halogen-free flame retardants recently achieved successful trial runs for all equipment, with smooth operations and the first batch of products meeting superior quality standards. This not only represents a strong expansion of production capacity but also marks a new phase in the global layout, significantly enhancing service capabilities in overseas markets. The new factory is positioned as a modern, green, efficient, and intelligent manufacturing base for flame retardants, with phosphorus-based halogen-free flame retardants widely used in electronics, electrical applications, and new energy vehicles.fields such as 5G communications that are developing rapidly.

8、An appraised value of a ring70 Billion! How Ōura Is Reshaping the Valuation Logic of Wearable Medical Devices

In May 2026, a piece of news shook the hardware industry and health technology investment sectors: Finnish smart health company Ōura secretly submitted an S-1 filing to the US SEC, officially initiating its IPO process, with Goldman Sachs, Morgan Stanley, and JPMorgan Chase serving as joint underwriters. If successfully listed, it will create the largest IPO record in the consumer wearable sector since Peloton in 2019, and will officially open a new track for "smart ring IPOs."

Overseas macro market:

Iran condemns the aggressive attack by the U.S. on Qeshm Island.

On June 3rd, the Iranian Foreign Ministry strongly condemned the United States for its aggressive actions against Iranian oil tankers in the Strait of Hormuz and communication towers on Qeshm Island from the territories of two regional countries. These aggressive acts not only violate the ceasefire agreement but also severely breach the fundamental principles of the United Nations Charter that prohibit the use of force. The Iranian Foreign Ministry also condemned the U.S. for using the territories and facilities of regional countries to advance its aggressive plans against Iran, pointing out that Kuwait and Bahrain bear direct and explicit responsibility for these aggressive acts. Iran will use all capabilities to retaliate against acts of aggression while exercising its inherent right to defend its territorial integrity and national sovereignty.

[Zelensky: Ukrainian forces strike oil terminal and other facilities in Russia’s St. Petersburg]

On the 3rd, Ukrainian President Volodymyr Zelensky said on social media that the Ukrainian military launched strikes early that morning on several important facilities inside Russia, including the Saint Petersburg oil terminal, the Kronstadt military base, and a weapons manufacturing enterprise in Tambov Oblast.

Kuwait International Airport suspends flight operations after attack.

A spokesperson for Kuwait’s Ministry of Defense said on June 3 that multiple Iranian drones attacked Terminal 1 of Kuwait International Airport that day, causing severe damage to the building and injuries. Kuwait’s Directorate General of Civil Aviation said in a statement the same day that the attack caused serious damage to airport facilities and operating systems and resulted in injuries. To ensure safety, all flights have been suspended, and flights already in operation must be diverted to other airports until the relevant response work is completed and Kuwait International Airport is confirmed to meet the conditions for resuming operations.

The EU’s plan to build large AI data centers is reportedly facing delays and funding problems.

According to informed sources, the European Union will invest 20 billion euros (23.3 billion US dollars) to build five large-scale Artificial IntelligencePlans for AI data centers have failed to progress smoothly, and delays and funding problems have alienated some potential partners. Last year, the European Union announced plans to support “gigafactories” to accelerate private-sector investment in AI infrastructure. However, the initiative may face setbacks due to uncertainty over demand and when subsidies will become available.

[Iran’s Supreme Leader Approves the Establishment of a Working Group on the Strait of Hormuz Issue]

According to the Tasnim News Agency on the 3rd, Ali Nikzad, the Deputy Speaker of the Iranian Islamic Parliament, stated that the Iranian Foreign Ministry has been approved by Iran's Supreme Leader Mujtaba Khamenei to establish a working group on the issue of the Strait of Hormuz.

[US military aircraft attack Iranian-related tanker, exclusive audio revealed]

A recording of the public ship-to-ship radio channel, provided exclusively to Xinhua by a seafarer aboard a merchant vessel stranded near the Strait of Hormuz, shows that U.S. military aircraft attacked an Iran-linked oil tanker on the evening of the 2nd, after which the crew of the tanker abandoned ship. The radio recording shows that the U.S. military aircraft called out to the tanker, saying: “This is a U.S. military aircraft. We will open fire on your engine room. Evacuate the engine room personnel.” The tanker’s crew later sent a distress message, saying the engine room was on fire and that “we are abandoning ship.”

Price Information:

The central parity rate of the RMB against the U.S. dollar was set at 6.8184, up 3 pips. The previous trading day’s central parity rate was 6.8187, the official closing rate was 6.7622, and the previous night session closed at 6.7650.

Upstream raw material USD market prices

On June 2, CFR Northeast Asia was steady at USD 930/ton, and CFR Southeast Asia was steady at USD 1,100/ton.

The average FOB Korea price for propylene in Northeast Asia fell by USD 30/ton to USD 1,150/ton, while the average CFR China price fell by USD 20/ton to USD 1,170/ton.

North Asia refrigerated cargo CIF prices: propane USD 842–852/ton; butane USD 942–952/ton.

The onshore price of frozen goods in South China in July is as follows: propane 893-903 USD/ton; butane 953-963 USD/ton.

Taiwan refrigerated cargo CIF prices: propane at US$842–852/ton; butane at US$942–952/ton.

[LLDPE USD Market Price]

Film: USD 1,300/ton (CFR Huangpu);

[HDPE USD market price]

Film: USD 1,300/ton (CFR Huangpu);

Hollow: USD 1,360/ton (CFR Yantian);

Injection molding: USD 1,350/ton (CFR Yantian);

[LDPE USD Market Price]

Thin film: USD 1,455/ton (CFR Huangpu);

[PP USD Market Price]

Homopolymer: USD 1,400/ton (CFR Huangpu);

Co-polymers: $1480/ton (CFR Nansha);

Membrane material: $1560/ton (CFR Huangpu);

Transparent: USD 1,500/ton (CFR Huangpu).