Exxonmobil shutdown! asahi kasei photosensitive pi film soon to enter mass production! us and iran may reach agreement on hormuz strait

International News Highlights:

Raw Material News-ExxonMobil, shut down!

Packaging News- Meeting the needs of 3D packaging! Asahi Kasei’s new photosensitive polyimide film is about to enter mass production.

Electronics News- BYK-ChemieHow the BYK-ET Series Becomes an “Amplifier” of Battery Performance

Recycling Highlights-American Plastics Recycling Association andRecyClass Unified Global Guidelines for the Recyclability of Polypropylene and Polycarbonate Plastics

Macro News-U.S. media: The U.S. and Iran have reached an agreement on fully reopening the Strait of Hormuz.

The following are the details of international news.：

1、ExxonMobil, shut down!

According to foreign media reports, ExxonMobil has closed a chemical manufacturing plant in Singapore, saying it has suspended operations due to current weak market conditions.On May 21, a company spokesperson said, “We have idled one chemical manufacturing plant... I am unable to confirm the specific unit details,” and added that the facility began operations in 2002. “We will continue working with customers to meet their needs, leveraging our global asset base and product inventories. If market conditions improve, we have the ability to restart the unit.” ExxonMobil operates two steam crackers in Singapore with total annual ethylene production capacity of 1.9 million tons; Cracker No. 1 has an annual capacity of 900,000 tons, and Cracker No. 2 has an annual capacity of 1 million tons. According to reports in December 2025, ExxonMobil plans to gradually shut down operations of the older of its two steam cracker units at its Jurong Island site in Singapore starting in March 2026, with a full closure expected by June 2026. This is part of a broader trend in the global petrochemical industry to cut capacity amid losses.

2、Bick ChemistryWhy the BYK-ET Series Has Become an “Amplifier” of Battery Performance

Bick Chemistry deeply integrates century-old formula wisdom with cutting-edge electrochemical research, specifically designed for the battery cell field.BYK-ET additives: From the uniform and dense coating of separator films to the stable dispersion of electrode slurries, this series precisely targets key stages in battery manufacturing. With only a small addition, it delivers critical performance gains, acting as an “invisible amplifier” for battery performance upgrades. BYK’s wetting and dispersing additive BYK-ET 3030 provides excellent dispersion for nano-sized alumina materials, helping achieve uniform and dense ceramic coatings and significantly improving the separator’s heat resistance and stability.

3. Adapting to three-dimensional packaging needs! Asahi Kasei's new photosensitive polyimide film is about to be mass-produced.

Asahi Kasei has developed a new type of photosensitive polyimide film in line with the semiconductor industry’s shift toward panel-level packaging. This product combines the core technological strengths of the company’s liquid photosensitive polyimide and dry film photoresist, effectively improving the production efficiency and yield of next-generation packaging processes. The film integrates the characteristics of both product types, retaining the features used for buffer coatings and passivation layers. Pimel's liquid photosensitive polyimide material incorporates the Sunfort dry film photoresist technology, which allows for temporarily patterning circuit designs on substrates and wafers. This product has been delivered to customers for testing and evaluation, and it is expected to be officially launched on the market soon.

4. The American Plastics Recyclers Association andRecyClass Unifies Global Recyclability Criteria for Polypropylene and Polycarbonate Plastics

Recyclability standards for plastics vary from market to market, which has long created numerous obstacles to compliant packaging design at the end-of-life stage. The industry has now made substantive progress in addressing the fragmentation of standards. The Association of Plastic Recyclers (APR) in the United States (APR and RecyClass have released the third progress report on their joint project, aimed at advancing the global harmonization of plastic recyclability assessment standards.，Achieve consensus on the adhesive layer related to the recycling of polyethylene film.。

5. U.S. media: The U.S. and Iran have reached an agreement to fully open the Strait of Hormuz.

The Washington Post reported on the 24th that the United States and Iran have agreed on the framework of a memorandum of understanding which, once signed, would fully restore shipping through the Strait of Hormuz within 30 days. Citing an anonymous senior U.S. government official, the report said that the United States and Iran have drawn up a “framework” for a memorandum of understanding that includes extending the ceasefire by 60 days to allow the two sides to reach a “final agreement” on permanently ending the war involving Iran. During that period, mines will be cleared from the Strait of Hormuz and it will be reopened. The official said the memorandum of understanding includes a “commitment” that Iran will not possess nuclear weapons. Over the next two months, the United States and Iran will discuss the “mechanisms” for implementing that commitment.

 Overseas Macro Markets:

[NikkeiThe 225 Index reached an all-time high closing level.

The Nikkei 225 index closed up 2.9% at 65,158.19 points. The Japan Topix index closed up 1.3% at 3,942.57 points.

China's responseNo exports of heavy rare earths to Japan for 4 months

On May 25, Foreign Ministry spokesperson Mao Ning hosted a regular press conference. A reporter asked about data from Chinese customs indicating that China has ceased exports of heavy rare earths and other related minerals to Japan for at least four months, coinciding with the ongoing disputes between China and Japan over the Taiwan issue. Can the Foreign Ministry confirm that this action is a response to Japanese Prime Minister Kishi Sanae's remarks regarding Taiwan? Mao Ning stated that for specific details, it is advisable to consult the relevant authorities in China. I would like to inform you that China, according to laws and regulations, prohibits the export of dual-use items to Japanese military users and for military purposes, aiming to curb Japan's "remilitarization" and nuclear ambitions.

SoftBank Group plans to issue to retail investors.260 billion yen subordinated bonds

SoftBank Group plans to raise 260 billion yen (approximately $1.6 billion) by issuing subordinated bonds primarily targeted at retail investors, following a similar transaction about two months ago. According to documents disclosed by the company on Monday, these bonds will have a maturity of 35 years, with the issuer having the option to redeem them after five years. The pricing date is set for June 5, with an initial guidance rate for the coupon of 4.8%-5.6%. SoftBank is quickly returning to the retail bond market amid increasing funding needs for its artificial intelligence (AI) related investments. Previously, the company scaled back its plan to use $10 billion in OpenAI equity as collateral for a loan by 40%, highlighting the growing pressure on its financing situation.

[It is reported that the US and Iran have reached an agreement to fully open the Strait of Hormuz.]

The Washington PostOn the 24th, a report said that the United States and Iran had reached agreement on a framework for a memorandum of understanding which, once signed, would fully restore shipping through the Strait of Hormuz within 30 days. Citing an anonymous senior U.S. government official, the report said that the United States and Iran had drawn up a “framework” for a memorandum of understanding that includes extending the ceasefire for 60 days so that the two sides can reach a “final agreement” on permanently ending the Iran war, during which time the Strait of Hormuz would be cleared of mines and reopened. The official said the memorandum of understanding includes a “commitment” that Iran will not possess nuclear weapons. Over the next two months, the United States and Iran will discuss the “mechanisms” for implementing this commitment. However, neither side signed any agreement on the 24th.

Today, the People's Bank of China conducted a net injection through reverse repos.257 billion yuan

The People's Bank of China conducted a 258 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, unchanged from the previous day. Today, 10 billion yuan in reverse repos will mature.

[Iran says it has not yet made any commitments on the details of the nuclear issue at this stage.]

Local timeOn May 24, it was learned that the Iranian side stated that earlier reports in Israeli media claiming that Iran would not be granted access to unfrozen funds before beginning to transfer its stockpile of enriched uranium were incorrect. The Iranian side is unwilling to link the issue of unfrozen assets with the issue of nuclear materials, and at this stage Iran has not made any commitments on the details of the nuclear issue.

[Trump: U.S.-Iran agreement“Not yet fully negotiated”

U.S. President Donald Trump said on the 24th that an agreement between the United States and Iran “has not been fully finalized,” accusing some uninformed people of “making reckless criticisms.” In a post on social media, Trump said, “If I reach a deal with Iran, it will be a good, appropriate deal.” “At present, no one has seen it or knows what it contains. It has not been fully finalized yet. So don’t listen to those losers, who are making reckless criticisms about something they fundamentally know nothing about.”

 Price Information:

The RMB central parity rate against the US dollar is reported as follows.6.8318, up 55 pips; the previous trading day's central parity rate was 6.8373, the previous trading day's official closing price was 6.7947, and the previous night's session closed at 6.7978.

 [Upstream Raw Material USD Market Prices]

On May 22, CFR Northeast Asia was USD 1,035/mt, down USD 65/mt, while CFR Southeast Asia was stable at USD 1,170/mt.

Northeast Asian propyleneThe average FOB South Korea price remained stable at USD 1,210/ton, and the average CFR China price remained stable at USD 1,230/ton.

North Asia CIF, propaneUSD 897–899/ton; butane USD 997–999/ton.

Frozen goods in South ChinaJune landed price: propane USD 985-995/ton; butane USD 1,035-1,045/ton.

CIF Taiwan Region, propaneUSD 897–899/ton; butane USD 997–999/ton.

 【LLDPE USD market price

Film:1320 USD/ton (CFR Huangpu);

【HDPE USD market price

Thin film:1320 USD/ton (CFR Huangpu);

Hollow:USD 1,400/ton (CFR Yantian);

Injection molding:USD 1,380/ton (CFR Yantian);

【LDPE US Dollar Market Price

Thin film:USD 1,540/ton (CFR Huangpu);

【PP USD market price

Homopolymerization:USD 1,400/ton (CFR Huangpu);

Copolymerization:USD 1,560/ton (CFR Nansha);

Film material:USD 1,630/ton (CFR Huangpu);

Transparent:USD 1,500/MT (CFR Huangpu);

Editor: Yun Shimeng （Carrie）