On November 15, China and the United States issued a Sunnylands statement on strengthening cooperation to address the climate crisis. According to the statement, China and the United States decided to launch the Enhanced Climate Action Working Group in the 2020s to engage in dialogue and cooperation to accelerate concrete climate action in the 2020s.

The working group will focus on the areas of cooperation identified in the Joint Declaration and the Joint Declaration, including energy transition, methane, circular economy and resource efficiency, low-carbon sustainable provinces/states and cities, deforestation and other topics agreed upon by both sides.

Among the specific actions on "circular economy and resource efficiency", China and the United States are committed to ending plastic pollution and will work together to develop a legally binding international instrument on plastic pollution, including plastic pollution in the Marine environment.
The news comes out, the plastic market is not small! In particular, the A-share degradable plastic plate transaction pull up, Danhua technology is A linear touchboard, home United technology, Lianchuang shares, Jindan Technology, Lihe technology, Tianyuan shares, etc., with the rise.

HIPS prices are higher than ABS injection molding plants switch to ABS production
In 2023, the overall profitability of the domestic ABS industry is not good, and the average profit of the ABS industry in 2023 is 76 yuan/ton, down 1,369 yuan/ton, or 95%.

With the centralized production of ABS devices, in the state of oversupply, the ABS price runs at a low level, and HIPS (high impact polystyrene) is higher than some ABS prices for a long time, so that some home appliance companies have the idea of replacing ABS with HIPS (high impact polystyrene).
The recent tepid ABS market has allowed some HIPS prices to exceed some low-end ABS products. With HIPS support, even if the raw materials are weak, supply and demand are under pressure, ABS is difficult to fall.
At present, the ABS industry is still in a state of imbalance between supply and demand, the industry surplus situation is gradually prominent, and the downstream demand side is not optimistic. Industry or difficult to achieve substantial profits, around the cost line is still the main theme, it is expected that the short-term market consolidation.