July 14 — WTI crude extended its intraday gains to 2.9%, breaking above the $80 per barrel mark for the first time in a month. Brent crude rose above $85 per barrel, hitting its highest level since June 12.

SK Hynix CEO Kwak Noh-Jung recently said that the current shortage of memory chips affecting the PC, automotive, and consumer electronics markets is highly likely to continue beyond 2030. In his first interview since the South Korean company completed a record-setting U.S. listing on Friday, Kwak said customers have been signing long-term contracts because they believe the shortage will last longer. SK Hynix, along with Samsung and Micron, has become one of the main beneficiaries of the AI boom. Massive purchases by data center operators have boosted demand for conventional memory chips while also significantly increasing the popularity of high-bandwidth memory (HBM) designed for AI systems. This buying frenzy has further squeezed the supply of general-purpose memory chips, leading to shortages in sectors such as PCs, smartphones, and automobiles. Kwak noted in the interview that SK Hynix’s analysis shows the shortage may continue into the next decade, and feedback from customers confirms the industry’s widespread expectation of a long-term undersupply of memory chips.

Mitsubishi Motors recently announced that it will begin mass production of humanoid robots at its factory in Japan. The humanoid robots, jointly developed with its invested startup Highlands, are expected to go into production around 2027 and will first be used in its own factories, with plans to consider external sales in the future. The company will build new production equipment in the idle space of its engine production plant in Kyoto, with a planned monthly output of 1,000 units.

Recently, the high-density polyethylene unit of Sino-Korean Petrochemical successfully completed the continuous production of three new grades of products, all of which met performance standards. This marks the first time since the unit was put into operation that three new products have been produced consecutively within the same production cycle, signifying a phased breakthrough for the company in optimizing its product mix and advancing toward higher-end development.

July 9 report: Huizhou Renxin PS prices increased by CNY 100/ton. Transparent-grade 525B and 535N were quoted at CNY 9,500/ton, 535T at CNY 9,700/ton, general-purpose grade RH-825 at CNY 10,600/ton, and RH-825G at CNY 10,800/ton; discounts are available for actual orders. The company’s PS plant has a capacity of 300,000 tons/year.

July 9 report: The production capacity of Liaoning Jinfa ABS unit is 600,000 tons per year. Today's price is closed and not quoted.

July 9 report: Ningbo Formosa Chemicals has raised its ABS quotations by RMB 600/ton. The price for 15A1 is RMB 11,100/ton, and the price for 15E1 is RMB 11,000/ton. This week, prices are negotiated on a case-by-case basis. The company’s ABS plant has an annual production capacity of 750,000 tons.

On July 8, it was reported that Ningbo Formosa Plastics had raised its ABS prices by RMB 400/ton. The quoted price for 15A1 was RMB 10,500/ton, and the quoted price for 15E1 was RMB 10,400/ton. This week, one deal was concluded through one-on-one negotiation. The company’s ABS plant has an annual capacity of 750,000 tons.

Reported on July 8: Sinopec East China ABS price increased by 200 yuan/ton, 0215A listed at 9,100 yuan/ton, GE150 at 9,100 yuan/ton, Jieyang 0215A listed at 9,100 yuan/ton, 750ASQ listed at 9,100 yuan/ton. PetroChina's Daqing Petrochemical ABS unit has a capacity of 300,000 tons per year, and Jilin Petrochemical ABS unit has a capacity of 1.2 million tons per year.

On July 6, KPX Chemical announced a collaboration with H&S to build a new soft polyurethane foam recycling plant in the Yongsan Industrial Park in Yeongdong-gun, North Chungcheong Province, South Korea, expected to begin commercial operations in June 2027. The core of this project is to establish a circular economy model, transforming what was previously considered waste—soft polyurethane foam scraps—into high-value recycled polyols. The produced recycled polyols can replace up to 30% of the virgin polyols used in soft polyurethane foam production, with even higher replacement rates achievable in certain applications. The quality is also expected to maintain mechanical performance and ride comfort comparable to existing products.

Recently, Satellite Chemical (002648.SZ) disclosed its 2026 semi-annual earnings forecast, stating that the company expects to achieve a net profit attributable to shareholders of RMB 6.0 billion to RMB 7.0 billion in the first half of 2026, representing a year-on-year increase of 118.68% to 155.13%.The reasons for performance growth include advantages in industrial chain integration and a diversified supply chain layout that has buffered cost fluctuations, among others.As a leading integrated light hydrocarbon company, Satellite Chemical focuses on an industrial chain featuring the coordinated development of “C2 + C3.” Driven by rising crude oil prices, profit margins for C2 products (ethylene and downstream derivatives produced from ethane) and C3 products (deep-processing products with propylene as the core feedstock) have generally increased this year. Leveraging its “gas-based” route that uses light hydrocarbons such as U.S. ethane and propane as core feedstocks, the company benefits from both lower raw material costs and recovering product prices, highlighting its advantages over the naphtha-based route.

Recently, as a key foreign investment project in Puyang City, the construction of Henan Wangsu New Material Technology Co., Ltd.'s annual production capacity of 600,000 tons of polystyrene is progressing steadily. The project has successfully completed its initial production run, injecting strong foreign investment momentum into the high-quality development of the city's chemical new materials industry. The project has a total investment of 1.23 billion yuan and includes the construction of six specialized production units for polystyrene, each with a capacity of 100,000 tons, along with a complete set of facilities for granulation, packaging, and public utilities. It is a landmark foreign investment project for the city's efforts to extend and supplement its industrial chain and strengthen the chemical new materials industry cluster.

Wanhua Chemical announced that its net profit for the first half of 2026 is expected to be between 9.8 billion and 10.4 billion yuan, representing a year-on-year increase of 60.05% to 69.85%. In the first half of 2026, due to the impact of international political factors and geopolitical conflicts, global chemical raw material prices rose sharply. Coupled with changes in supply and demand patterns in certain regions, this drove up the market prices of chemical products, enhancing the profitability of the company's chemical products. Additionally, the company completed the raw material diversification transformation of the ethylene Phase I unit in January, improving the cost competitiveness of its petrochemical segment.

The Brazilian Ministry of Development, Industry, Commerce, and Services (Ministério do Desenvolvimento, Indústria, Comércio e Serviços/Secretaria de Comércio Exterior) has released Announcement No. 48 of 2026, initiating an anti-dumping investigation on lactic acid and its salts (Portuguese: ácido láctico e seus sais) originating from China, following a request submitted by the Brazilian company Corbion Produtos Renováveis Ltda. on October 29, 2025. The Mercosur tax code for the products involved is 2918.11.00. The period for the dumping investigation is from July 2024 to June 2025, and the injury investigation period is from July 2020 to June 2025. The announcement takes effect from the date of publication.

In the past year,In recent announcements, four leading chemical companies—Innospec, AmSty, Stepan, and Westlake Chemical—have successively decided to shut down multiple production units. The current round of production halts targets aging production lines that have been in operation for decades and lack integrated upstream and downstream support. Key areas for capacity clearance include polystyrene (PS), PVC, styrene, and surfactants.Industry data shows that.In 2022, the global PS operating rate has fallen below 70%, and institutions predict that the industry's low operating pattern may continue until 2034.CIS also warned that if the Strait of Hormuz remains open to normal navigation, massive volumes of chemical cargoes from the Middle East and Asia will continue to flow into the global market, further worsening the industry’s overcapacity problem.

The China Automotive Power Battery Industry Innovation Alliance Forum has released signals that the domestic power battery installed capacity is expected to reach 888.7 GWh by 2026. The industry is bidding farewell to the era of comprehensive growth and entering a period of structural optimization and transformation. The demand growth rate for new energy passenger vehicle batteries has slowed to 10.8%, while the demand for commercial vehicle batteries has surged by 34.7%, becoming the core driving force. Capacity utilization rates are polarizing, with lagging capacities accelerating exit, and demand for high energy density batteries warming up. Leading enterprises are focusing on breakthroughs in new materials such as silicon-based anodes and solid-state electrolytes, as well as overseas capacity deployment.

On July 2, GAC Toyota’s 10 millionth mass-produced vehicle officially rolled off the production line at its Nansha plant in Guangzhou. The model was the all-electric sedan bZ7.GAC Toyota has become another domestic automaker with a cumulative total. Joint venture automaker surpasses 10 million vehicles. The Bozhi 7 is the second mass-produced model under GAC Toyota’s pure electric exclusive brand Bozhi. It is positioned as a mid-size pure electric sedan, with an official price range of 154,800 to 214,800 yuan. It offers multiple battery range options, including 600 km and 700 km versions, as well as LiDAR intelligent driving features.

The Indian government has extended the customs duty exemption policy for about 40 key petrochemical products from the originally scheduled expiry date of June 30, 2026, to July 15, 2026. The list includes essential chemical products such as PVC, PE, PP, ABS, PET, VCM, PTA, MEG, and styrene, covering the entire industrial chain of building materials, packaging, textiles, and automobiles.

FedExStarting in August 2026, [the company] announced that it will return in full the US$800 million in tariff refunds it received from the U.S. government to the shipping customers that actually paid the duties. The funds stem from tariffs previously imposed under the International Emergency Economic Powers Act and later ruled unlawful. Refunds will be issued on a priority basis to customers who authorize open data access, with the first batch expected to arrive around August 10. The company will launch a dedicated online platform on July 10 for customers to check the status of their refunds.

European Commission President Ursula von der Leyen: Today, the EU has lifted tariffs on imports of industrial products from the United States. This is a commitment made in the joint statement between the EU and the United States.