Market Flash

China's soybean imports surged in May, showing a significant rise compared to April, signaling stronger demand for the world's largest soybean importer.

The Spanish-based Perfumes and Design company (PyD) has signed an agreement with EuroItalia to support the distribution of fragrance brands Versace, Moschino, Michael Kors and Dsquared2 in selected channels in Spain and Andorra

• PyD
• EuroItalia

Lotte Chemical and HD Hyundai are in talks to merge the assets of the Naphtha Cracking Center (NCC) in Daesan, South Chungcheong Province, South Korea,

• Lotte chemical
• HD Hyundai Chemical

Covestro LLC has unveiled a new strategic distribution partnership with PolySource, aimed at strengthening the supply of its premium polycarbonate product lineup across the United States.

DKSH Performance Materials will provide business development, marketing, sales, logistics and distribution services for Catexel's range of innovative cosmetic raw materials in Germany, Austria and Switzerland.

• DKSH Performance Materials
• Catexel

Kemira has made the investment decision to expand its sodium borohydride (SBH) powder capacity at its Äetsä site in Finland. The scope of the investment includes a new production line as well as some additional process safety improvements.

• Kemira
• sodium borohydride

Toray Industries, Inc. announced that Toray Membrane Middle East Company (TMME) officially opened the Middle East Water Technology Center (MEWTEC) in Dammam, Saudi Arabia in April.

• Toray
• Water Technology Center

To meet the growing demand for high-quality specialty silicones in the Chinese market, WACKER is expanding the production capacity of its Zhangjiagang site.

• WACKER

According to a report by the Financial Times on Wednesday, June 4, French beauty giant L'Oréal will acquire British cosmetics brand Medik8 for 1 billion euros.

• L'Oréal
• Medik8

Elementis plc recently announced the sale of its talc business to IMI Fabi for $121 million, which is an important step in the company's strategic transformation.

• Elementis
• talc

Goodai Global Inc. has been named the preferred bidder for a 150 billion won ($108 million) deal to buy traditional Korean beauty brand Skinfood, as the company accelerates its expansion through acquisitions.

• Goodai
• Skinfood

Premix Group, a leading global manufacturer of conductive plastics, has officially opened its new manufacturing facility in Apple Creek, North Carolina.

• Premix Group
• conductive plastics

A new chapter in advanced materials innovation unfolded recently as Chen Qiufei, General Manager of Zhongfu Shenying, led a team to visit Austeng Technology.

The first steel column of the unit’s pipe rack structure, weighing 2 tons, was successfully hoisted into place using an 80-ton crane at a height of 16 meters.

CNNC Titanium (002145) announced the termination of two key projects from its 2021 non-public stock issuance: the 50,000-ton/year Phosphoric Acid Iron Project and the 50,000-ton/year Water-Soluble Monoammonium Phosphate (MAP) Project.

Hempel has unveiled Hempaguard NB, a cutting-edge silicone antifouling coating specifically designed for newbuild vessels.

Climate change and intensive farming have severely impacted global soil health and crop productivity, with prolonged droughts and nutrient depletion putting immense pressure on farmers.

The U.S. executive order targeting prescription drug price reductions by 30-80% is unlikely to significantly affect Indian pharmaceutical exports, according to Crisil Ratings.

Glenmark, in partnership with Ichnos Sciences, has announced promising results for its innovative trispecific antibody drug ISB 2001, designed to treat relapsed or refractory multiple myeloma (RRMM).

The use of Wegovy, a weight-loss drug by Novo Nordisk, increased by 50% among U.S. adolescents last year, according to Truveta's analysis of 1.3 million patient records.