Recently, Rongsheng Petrochemical Co., Ltd. (002493.SZ) announced that, based on strategic focus considerations, its wholly-owned subsidiary Rongsheng New Materials (Zhoushan) Co., Ltd. (referred to as "Rongsheng New Materials (Zhoushan)") intends to transfer 100% of its equity in Rongsheng Energy (Zhoushan) Co., Ltd. (referred to as "Rongsheng Energy (Zhoushan)") to Zhejiang Rongsheng Holding Group Co., Ltd. (referred to as "Rongsheng Holding"). Upon the completion of this transaction, Rongsheng New Materials (Zhoushan) will no longer hold any equity in Rongsheng Energy (Zhoushan), and Rongsheng Energy (Zhoushan) will no longer be included in the company's consolidated financial statements.

At 3:40 AM on December 8, with the successful production of qualified EVA resin particles, the Lianhong Gerun 200,000 tons/year EVA plant has completed the entire process and achieved a successful one-time feed startup. The Lianhong Gerun 200,000 tons/year EVA plant utilizes LyondellBasell's LUPOTECH TS tubular reactor technology to produce 200,000 tons of ethylene-vinyl acetate copolymer resin particles annually. The operational flexibility ranges from 70% to 110%, with 13 product grades. The products are mainly used in injection molding products, medical devices, pharmaceuticals and food packaging, agricultural films, and photovoltaic materials.

Recently, Bohai Chemical announced that the company is planning to sell 100% of Bohai Petrochemical's equity and acquire control of Teda New Materials through the issuance of shares and cash payment (hereinafter referred to as "this transaction"). Preliminary calculations indicate that this transaction is expected to constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies." This transaction will not result in a change of the company's actual controller and does not constitute a backdoor listing. According to the "Shanghai Stock Exchange Stock Listing Rules" and other relevant regulations, this transaction constitutes a related party transaction. As this transaction is still in the planning stage and related matters are uncertain, in order to protect the interests of investors and avoid abnormal fluctuations in the stock price, in accordance with relevant regulations of the Shanghai Stock Exchange, the company has applied for a suspension of trading. The company's stock will be suspended from trading starting from December 8, 2025, with the suspension expected to last no more than 10 trading days.

Recently, the Weinan Municipal Bureau of Ecology and Environment announced a proposed approval decision for the environmental impact assessment documents of the 35,000 tons per year POR construction project, with the announcement period from December 2nd to December 8th. It is reported that the project, undertaken by Shaanxi Shaanxi Coal Xiechuangda New Materials Co., Ltd., includes the production installation of 35,000 tons per year (dry basis) polyolefin elastomer (POR) and supporting facilities, with a total investment of 1,319.67 million yuan. The production installation area and supporting engineering occupy a total area of 196.354 mu, equivalent to 130,903 square meters.

On December 4th, Wanhua Chemical Group Co., Ltd. (600309) increased the price of styrene in the East China region by 100 yuan/ton, with the latest quotation at 6,800 yuan/ton. In the North China region, the price of styrene was increased by 50 yuan/ton, with the latest quotation at 6,700 yuan/ton. Sales remain stable.

Recently, the first batch of SBC (styrenic thermoplastic elastomer) products produced by Shanghai Jinshan Balin New Materials Co., Ltd. has left the factory in the Carbon Valley Green Bay Park of Jinshan District.The 250,000-ton annual production project of SBC (styrenic thermoplastic elastomers) has only been in operation for 14 days since its full construction and production. The project, jointly invested by Hunan Petrochemical and Shanghai Petrochemical, is located at Shanghai Jinshan Baling New Materials Company. After successfully starting up on November 12 and producing qualified products for the first time, the company has officially begun external sales, thereby completing the "R&D - production - sales" chain.As of December 1st, more than 512 tons of SBC products have been shipped to end users in Shandong, Jiangsu, Fujian, and other regions.

According to the Dalian Daily report, the relocation and upgrade project of PetroChina Dalian Petrochemical is planned to start in 2026, adding 10 million tons per year of refining capacity.

Recently, with the successful installation of the first pile by the piling vessel "Zhepu Gong 51," the construction of the PetroChina Blue Ocean New Materials Terminal officially commenced in Tongzhou Bay. The Blue Ocean New Materials project is the largest single project that PetroChina has invested in and constructed in Asia, and it serves as a flagship project for Nantong City's initiative to build a "Blue Ocean of Advanced Materials." The project leverages PetroChina's advantages in upstream resources and refining technology, as well as the favorable geographical conditions of Tongzhou Bay, to initially develop a high-end polyolefin new materials project, which is of great significance for promoting the high-end, intelligent, and green development of the petrochemical industry in the Yangtze River Delta region. It is reported that the project will fully start construction in September 2024. The terminal project will establish a new 50,000-ton liquefied hydrocarbon berth, with a berth length of 300 meters and a designed annual throughput capacity of 1.1 million tons, which can be increased to 2.3 million tons in later implementation phases.  

This week, the number of domestic PVC companies planning maintenance has decreased, leading to an overall increase in supply expectations. On the demand side, downstream product manufacturers are still operating at low levels, with no signs of improvement in orders, maintaining a strategy of buying on dips. Asian contract prices are lower than expected, putting pressure on exports. On the cost side, there is still some support, but the fundamentals of the spot market are difficult to improve, and it is hard to find positive factors for the PVC market. It is expected that PVC prices still have room to decline today.

Recently, Zhongke Kele has partnered with the Wanlong Chemical Division for joint development.EPOE-based thermoplastic elastomerZhongke Kele has reached a cooperation with Wanlang Chemical Division to jointly develop TPE/TPV and other thermoplastic elastomers using Zhongke Kele EPOE (small batch supply has already been provided).

  On November 27, China National Chemical Corporation (ChemChina) stated on the interactive platform that in terms of lithium battery technology: 1. ChemChina's independently developed ultra-high molecular weight polyethylene (UHMWPE) resin project can be applied to lithium battery separators; 2. The affiliated company has won a provincial-level science and technology progress award for its salt lake lithium extraction technology. In the field of energy storage: 1. The company is involved in multiple energy storage engineering projects and has rich engineering experience; 2. The company's aerogel products used for battery thermal management and insulation of energy storage systems have good economic benefits; 3. The company is continuously advancing in the research and development of hydrogen energy storage and CCUS (Carbon Capture, Utilization, and Storage) technology.

According to South Korean media reports, South Korea's two major petrochemical companies—Lotte Chemical and HD Hyundai Chemical—jointly announced on the 26th that they have submitted an application to the South Korean government for the review and approval of their petrochemical business consolidation plan. This is the first specific restructuring proposal put forward by the industry since 10 South Korean petrochemical companies signed a business reorganization agreement in August of this year. According to Yonhap News Agency, the two companies stated that in order to enhance the overall competitiveness of the petrochemical industry and optimize the industrial layout, they have officially submitted an application to the Ministry of Trade, Industry and Energy of South Korea, requesting approval for their naphtha cracker (NCC) integration plan.

Recently, the inauguration ceremony for China's first demonstration-level intelligent packaging line for polyolefin products— the secondary packaging project for polyolefin product clear scanning and bundling— was grandly held in Shanghai. In response to the demand for standardized and intelligent packaging of polyolefin products in the East China market, and to solve the efficiency bottlenecks in the logistics process and enhance product market competitiveness, East China Chemical Sales, in collaboration with Lanzhou Petrochemical, Lanzhou Zhonglu Chemical Group Zhongkai Industrial and Trade, and other units, jointly promoted the construction of this project. The project has an annual packaging capacity of 90,000 tons and is the first secondary packaging line built at the sales front within the China National Petroleum Corporation system. Gao Teyan, General Manager of East China Chemical Sales Company, Li Zhijian, Deputy General Manager of Lanzhou Petrochemical Company, and other leaders from relevant units, as well as representatives from customers such as Pliteq Group and Jinhua Technology, attended the ceremony.

On November 27, according to the latest data from the General Administration of Customs of China, the import volume of polyacrylamide in October 2025 was 639.348 tons, with an import value of 11.018 million yuan; from January to October, the cumulative import volume of polyacrylamide reached 6,011.453 tons, with an import value of 101.27 million yuan.

On November 26, 2025, Ube Maruzen Polyethylene Co., Ltd., a joint venture established by Ube Industries, Ltd. and Maruzen Petrochemical Co., Ltd., announced that it has been actively promoting the marketing of ISCC PLUS certified products made using the quality balance method since obtaining ISCC PLUS certification for ethylene-vinyl acetate copolymer (EVA) produced at its Chiba plant in Japan in December 2023. The company is pleased to announce that these products are now fully available for sale.

Recently, the 125-meter-high extrusion granulation framework of the polypropylene unit of the Fujian Zhongsha Gulei Ethylene Project, contracted by China National Chemical Engineering Hua Lu Company, was successfully topped out. This milestone marks the project entering a critical phase and sets a new global record for the tallest framework of similar units in the industry. As a key project for the high-quality integration of the "Belt and Road" initiative and Saudi Arabia's "Vision 2030," the Fujian Zhongsha Gulei Ethylene Project has a total investment of approximately 44.8 billion RMB (about 6.4 billion USD) and is expected to commence production in the second half of 2026. Once completed, the project will focus on the production of high-end chemical products, which will be widely used in various fields such as electronics, artificial intelligence, healthcare, and automotive manufacturing. This will not only fill the gap in the domestic market for high-end chemical products but also drive the development of downstream industrial clusters.

According to reports from several local South Korean media outlets on November 25, Lotte Chemical Co., Ltd. will permanently close its naphtha cracking facility in Daesan, South Korea, with a capacity of 1.1 million tons per year, although the specific closure date has not been disclosed. This decision was made following the restructuring agreement announced in June between Lotte and HD Hyundai Chemical. HD Hyundai Chemical also operates a naphtha cracking facility in Daesan, with an ethylene production capacity of 850,000 tons per year. The two companies had previously agreed to integrate and optimize their production facilities in the park.

India's anti-dumping policy may be extended or canceled, which could benefit exports. Coupled with the support from calcium carbide prices, the spot prices are showing signs of stabilizing after a decline. The integrated profit margin for caustic soda and PVC in Shandong is slightly negative, with limited maintenance and high operational levels. PVC production companies have reduced their inventory compared to the previous month. With high supply and weak demand, attention should be paid to changes in the cost side, and it is expected that PVC will follow suit in operations. Caustic soda is experiencing a fluctuating trend. Liquid chlorine is performing relatively well, and the chlor-alkali integration still has profits, but there is insufficient cost support, leading to a slight decline in spot prices. With insufficient maintenance, high operating levels are expected to continue. The profit margins for alumina are being squeezed, with some losses, and there may be production cuts in the future, while non-aluminum downstream demand is mainly for replenishing stocks. With high supply pressure and insufficient downstream demand, caustic soda is running weakly, and attention should be paid to subsequent profit changes.

Bohai Chemical announced that on October 14, 2025, the company issued the "Announcement on the Routine Shutdown and Maintenance of the PDH Unit by Tianjin Bohai Chemical Co., Ltd." (Announcement No.: Lin 2025-049), disclosing that the company's wholly-owned subsidiary, Tianjin Bohai Petrochemical Co., Ltd. (referred to as "Bohai Petrochemical"), has started the routine shutdown and maintenance of its PDH unit (600,000 tons/year) according to the annual plan on October 13, 2025. The maintenance is expected to last around 30 days. During the maintenance period, the company organized relevant personnel to carry out maintenance work in an orderly manner according to the maintenance plan. Due to the demand from the newly constructed acrylic ester and superabsorbent resin new materials projects within the Bohai Petrochemical plant, the PDH unit needs to conduct equipment and utility system joint debugging and testing with these projects. To ensure stable production operation of the unit, the maintenance period of the PDH unit needs to be extended for a certain period of time, and it is expected that the PDH unit will resume production by the end of February 2026.

Wanhua Chemical recently held a third-quarter performance briefing. Regarding the raw material transformation of the ethylene unit, Wanhua Chemical stated that the ethylene first phase unit at its Yantai industrial park is expected to complete the ethane feed transformation by the end of 2025. The raw material will change from propane feed to ethane feed, and it is expected that raw material costs will decrease significantly.