In the early market close, the main domestic futures contracts saw more gains than losses. Polysilicon rose nearly 6%, palladium and**** (coke) were up over 5%, Shanghai silver increased over 4%, platinum and lithium carbonate rose nearly 4%, coking coal gained over 3%, and Shanghai tin was up nearly 3%. On the downside, SC crude oil fell nearly 5%, liquefied petroleum gas (LPG) and low-sulfur fuel oil (LU) dropped nearly 4%, fuel oil was down over 3%, and propylene, European shipping, monthly average polypropylene, and polypropylene all fell over 1%.

On June 11, Chery Automobile Co., Ltd. and Yinwang Intelligent Technology Co., Ltd. signed a deepening strategic cooperation agreement in Wuhu, Anhui, to carry out in-depth cooperation on L3 and L4 level autonomous driving technologies. Chery stated that the 15th Five-Year Plan period will be a critical phase for the implementation of L3 and L4 level autonomous driving. According to the agreement, Chery and Yinwang will accelerate technological breakthroughs and mass production implementation of L3 and L4 level autonomous driving during the 15th Five-Year Plan period.

According to foreign media reports,Dow has announced that its LCH3 steam cracking unit in Terneuzen, the Netherlands, has resumed operations. The cracker had previously delayed its planned maintenance, originally scheduled for June 2025, due to weak market conditions, and was subsequently shut down, remaining out of operation until now.In January 2025, Dow Chemical stated that it would suspend operations at the plant until market conditions improve. The cracker has a nameplate capacity of 680,000 metric tons of ethylene per year and 286,000 metric tons of propylene per year, and it was commissioned in 2000.

In May 2026, the cost support of crude oil for PE weakened. Domestic production increased while imports continued to decrease, leading to a slight overall increase in supply. The downstream sector is in a traditional demand off-season, with low enthusiasm for raw material procurement, which is bearish for the spot market. In June, cost support is expected to continue weakening, with an anticipated increase in domestic supply, and in the off-season for demand, the price focus of the PE market may continue to decline.

In May, China’s power and energy storage battery sales reached 182.2 GWh, up 11.0% month on month and 47.4% year on year.Among them, power battery sales reached 127.0 GWh, accounting for 69.7% of total sales, up 16.6% month-on-month and 45.2% year-on-year; energy storage battery sales reached 55.2 GWh, accounting for 30.3% of total sales, down 0.1% month-on-month and up 52.7% year-on-year.

Recently, Swamy Kotagiri, CEO of Canadian automotive parts giant Magna International, stated in an interview that Magna is open to assembling Chinese cars in Canada if the collaboration has "genuine long-term value." The company has been deeply engaged in the Chinese market for nearly 20 years, establishing nearly 70 factories and employing 30,000 people, along with a research and development team of 2,000 engineers. In 2024, sales in the China region are expected to grow by 15%, with about 60% coming from local automakers, and the performance of its business in China significantly surpassing the company's average level.

This week, the domestic ABS petrochemical inventory stands at 239,400 tons, a week-on-week decrease of 43,200 tons, and a year-on-year increase of 33,000 tons. Under recent bulk discount policies by individual enterprises, inventory reduction has been more significant; coupled with production cuts at some units and increased buying activity driven by the raw material side during the week, manufacturers have accelerated their shipment pace, resulting in a substantial decline in the total ABS petrochemical inventory this week.

General Motors recently announced plans to launch the production of large-scale energy storage battery components. This move aims to enter the expanding energy storage market and compete with automakers such as Tesla and Ford. The company hopes that this business will help alleviate the market pressure caused by the current slowdown in electric vehicle sales in the United States.

Geely Auto recently stated that its self-developed driving assistance system, G-ASD (Qianli Haohan), has obtained legal road-use approval in the European Union and has also passed the United Nations UN R171 regulation certification. This certification is the EU’s unified access standard for advanced driver assistance control systems (DCAS), and serves as the “pass” for such systems to be legally equipped and used on roads in Europe. Geely plans to launch its first model equipped with this intelligent driving system in Europe this year.

On June 10th, the China Association of Automobile Manufacturers released data showing that in May 2026, China's new energy vehicle market stabilized and rebounded, with production and sales reaching 1.554 million and 1.496 million units respectively, representing year-on-year increases of 22.4% and 14.4%. The proportion of new energy vehicle sales in the total new car sales further increased to 56.9%. In May, China's automobile production and sales reached 2.616 million and 2.629 million units respectively, showing a month-on-month increase and a slight year-on-year decrease, but the decline narrowed further. Overall, in the first five months, automobile production and sales reached 12.235 million and 12.207 million units respectively, among which new energy vehicle production and sales reached 5.841 million and 5.802 million units, with year-on-year growth of 2.5% and 3.5% respectively.

According to the latest data, in May, China's automobile exports reached 930,000 units, up 68.7% year on year, and have remained above 900,000 units for two consecutive months.Among them, exports of new energy vehicles showed a significant year-on-year increase, reaching 446,000 units, a growth of 110%. A relevant person in charge from the China Association of Automobile Manufacturers stated that China has the most complete new energy vehicle industry chain in the world, covering lithium ore processing, battery manufacturing, motor and electronic control, to vehicle assembly, with sufficient capacity, controllable costs, and strong supply chain risk resistance.

On June 10, Samsung Electronics was considering building an advanced semiconductor packaging plant in Gwangju, South Korea, to meet global chip demand. Samsung is expanding its presence in the HBM market to strengthen its position in the AI chip supply chain. Samsung is expected to announce the investment plan at a meeting between the South Korean president and heads of business groups on June 29.

On June 10, Li Auto announced that the 140,000th Li Auto i6 officially rolled off the production line.This model has achieved monthly sales exceeding 20,000 units for three consecutive months. It is the pure electric SUV in the 200,000 RMB range second only to the Tesla Model Y. The starting price is 249,800 RMB. It is positioned as a mid-to-large 5-seat SUV, with body dimensions of 4950*1935*1655 mm, a wheelbase of 3000 mm, and an interior longitudinal usable space of 3.3 meters.

Recently, the 300,000 t/y vinyl acetate unit (hereinafter referred to as the VAC unit) of Guangxi Huayi Energy & Chemical’s methanol-to-olefins and downstream deep-processing integration project successfully produced on-spec products, achieving a successful first startup. This has laid a solid foundation for opening up the project’s upstream and downstream production links, as well as for the coordinated operation and full capacity release of subsequent supporting units such as EVA, marking a solid step forward in the company’s industrial chain extension and industrial upgrading.

  On June 9th, CICC Wealth Futures released a report indicating that the geopolitical fluctuations in crude oil have led to international crude oil prices leading the chemical sector, stimulating a halt and rebound in the styrene market as Israel and Gaza resumed mutual bombings, putting the fragile ceasefire at risk. However, on the other hand, the supply-demand balance of styrene itself shows a clear trend of tightness in the near term and looseness in the long term. In the short term, maintenance at Zhenhai Linde and Shenghong Petrochemical has caused the domestic styrene operating rate to remain at a yearly low of 64.1%. Yet, market attention has shifted to the resumption and increase in production expected in mid to late June, with a relatively clear expectation of loose supply in the long run. Downstream off-season negative factors continue to manifest, with operating rates for EPS, PS, and ABS at 44%, 49%, and 58.7% respectively; corporate orders are weak, finished product inventories remain high, and terminal demand shows no marginal improvement. Additionally, the narrowing styrene supply gap in Asia has significantly reduced domestic export orders, with export contract volumes halving from late May to June. In summary, the main contradiction in the styrene market will revolve around the interplay between raw material cost support and deteriorating fundamental expectations, limiting the rebound potential and making a smooth one-sided rally unlikely.

Recently, the Silleno polyethylene project in Atyrau, Kazakhstan, has successfully commenced construction. The project has a total investment of 7.7 billion USD, with a designed annual production capacity of 1.25 million tons of polyethylene, and is planned to be completed and put into operation by 2029. Once operational, the project will meet 90% of Kazakhstan's domestic polyethylene market demand, with products also being exported to markets in Europe, China, and other regions. This project is a landmark for the deepening pragmatic cooperation among China, Russia, and Kazakhstan in the high value-added petrochemical industry. The implementation and construction of this project further consolidates Second Chemical Engineering Construction Corporation’s overseas engineering achievements and adds another outstanding result to its overseas market layout.

Reported on June 8: PetroChina South China lowered its ABS prices by RMB 200/ton. Jieyang 0215A is listed at RMB 9,700/ton, 0215H at RMB 9,700/ton, 0215E at RMB 9,700/ton, HF681 at RMB 10,000/ton, and 2437 at RMB 9,300/ton. PetroChina’s Daqing Petrochemical ABS unit has a capacity of 300,000 tons/year, while the (Jilin Petrochemical) Jieyang ABS unit has a capacity of 600,000 tons/year.

Reported on June 8: Liaoning Jinfab’s ABS unit has a production capacity of 600,000 tons/year. Prices were lowered this week. The current offer for grade KF730 is RMB 12,300/ton delivered to the East China market and RMB 12,300/ton delivered to the South China market. Actual transactions are negotiable.

Xiangcai SecuritiesWith the explosive growth of the global humanoid robot industry, the screw rod market is entering a golden development period. The mass production of humanoid robots directly drives the demand for core transmission components. For example, according to reports from Zhijie Observation Station, a single humanoid robot requires 14 planetary roller screws (for linear joints) and 12 miniature ball screws (for dexterous hands). The value proportion of planetary roller screws is as high as 19%, making it the core component with the highest value in humanoid robots. Given the high technical barriers of manufacturing planetary roller screws and the clear incremental space brought by the explosion of the humanoid robot market, it is recommended to focus on screw rod manufacturers with positive research and development design capabilities, breakthroughs in internal thread precision grinding technology, and those that are deeply integrated into the humanoid robot industry chain.

Recently, Tianjin Nangang Ethylene’s new polypropylene grade product, r-TPO (reactor thermoplastic polyolefin) PPB-MP28, was 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 trims and bumpers for Korean-brand automobiles.