【Overseas News】Oil prices may surge to $120; Shell plans $83 billion acquisition of bp; Eu proposes cutting energy tax

Raw Material News - Goldman Sachs Warning: International Oil Prices May Surge to $120

Headlines - Japan's Machine Tool Orders in March Increased by 28%, Overseas Orders Up by 40%

Electronic News – Toray Introduces Photosensitive Polyimide Sealing Material for MEMS Devices

Macroeconomic NewsThe EU will propose lowering energy taxes to offset the impact of surging oil and gas prices.

Price Information -

The following is the details of international news.：

Goldman Sachs Warning: International Oil Prices May Surge to $120

The U.S.-Iran talks held over the weekend failed to reach an agreement, causing tensions in the Middle East to escalate sharply once again.

According to CCTV News, on April 12 local time, the U.S. Central Command issued a statement saying that, pursuant to a presidential proclamation, U.S. Central Command forces will impose a blockade on all maritime traffic entering or leaving Iranian ports starting at 10 a.m. Eastern Time on April 13. The statement added that the blockade will apply equally to vessels of all countries entering or leaving Iranian ports and coastal areas, including all Iranian ports in the Persian Gulf and the Gulf of Oman.

U.S. Central Command also stated that it will not impede vessels traveling to and from non-Iranian ports through the Strait of Hormuz. More detailed information will be provided to commercial mariners via official notices prior to the commencement of any blockade.

Shell acquires BP? $83 billion deal! The largest oil merger since 1999 will reshape the global energy landscape.

According to The Wall Street Journal, Shell is in early talks to acquire BP.

If this deal ultimately goes through, it will become the largest merger in the global oil industry since Exxon and Mobil merged in 1999 for $83 billion.

A deal capable of rewriting the global energy map is being negotiated on the table.

Tianjin Dagang Chemical ABS resin exports increased by 12.43% in the first quarter.

According to the data recently released by Tianjin Dagang Chemical Industry Co., Ltd. (hereinafter referred to as Dagang Chemical), in the first quarter of this year, the export volume of ABS by Dagang Chemical increased by 12.43% compared to the same period last year, continuing the strong growth momentum in recent years, and achieving a "good start" for the annual export business.

It is understood that since Daguhua officially launched its export strategy in 2023, it has been advancing its global layout with the tone of "steady start, continuous breakthroughs." From 2023 to 2025, the company's ABS resin exports increased by more than 15 times, with an annual growth rate exceeding 300%, showing a step-like development trend of "starting-acceleration-explosion."

Malaysian researchers develop bio-based polyurethane from palm oil

The International Medical University (IMU) School of Pharmacy in Malaysia has successfully developed a new type of polyurethane, OLEONIPUA, produced from palm oil, which helps to reduce dependence on petroleum-based raw materials. Amid global energy conflicts, this represents a scientifically and economically competitive alternative.

The vice dean of the college, Dr. Li Cai Xian, pointed out that polyurethane is a common material, mainly used in the production of sponges, cleaning pads, furniture foam, and medical equipment.

She stated that the traditional production method of polyurethane heavily relies on petroleum-based feedstocks, and recent global oil-related conflicts have further exposed its vulnerability to disruptions in oil supply, which could significantly impact global industry and the economy.

Carbon footprint reduced by 25%! ROHM’s PMMA material enters the lighting sector.

RAB Lighting, a U.S. lighting equipment manufacturer, adopted ROHM’s polymethyl methacrylate (PMMA) molding compound Plexiglas proTerra 8N in developing energy-efficient lighting fixtures. This material effectively reduces the fixtures’ carbon footprint in terms of carbon dioxide equivalent (CO₂e).

ProTerra 8N material textured acrylic shade, helping outdoor wall lamps achieve resource-efficient product design.

Plexiglas proTerra 8N is partially made from bio-circular raw materials, replacing fossil-based feedstocks. Its raw material composition is calculated using the ISCC Plus certified mass balance method. According to the manufacturer, this material reduces the cradle-to-gate carbon footprint by approximately 25% compared to conventional grades; this figure is derived from a full lifecycle emissions analysis covering raw material extraction through to factory gate.

Toray launches photosensitive polyimide sealing material for MEMS devices

Tokyo Ohka Kogyo Co., Ltd. announced the development of a photosensitive polyimide sealing material for micro-electromechanical systems (MEMS) devices. MEMS devices use semiconductor microfabrication processes to integrate electronic circuits with mechanical structures.

New MaterialsDeveloped based on the SEMICOFINE® non-photoresist polyimide and PHOTONEECE® photoresist polyimide product platforms from Toray for semiconductor and display device insulation.

Trinseo × Signify Repurposes Waste Polycarbonate Streetlight Covers into New Luminaires via Dissolution Recycling Technology

Trinseo and Signify collaborate to transform discarded streetlight covers into new covers using dissolution recycling technology.

To support small-scale production needs and significantly reduce response times, Signify established a dedicated 3D printing department—Signify myCreation. This innovation center introduces new materials and concepts into Signify’s world through real-world application cases.

Building on previous material innovations—such as recycled polycarbonate derived from discarded water bottles and recycled polyamide sourced from discarded fishing nets—Signify is now exploring more advanced applications of circular materials. This collaborative project aims to achieve true “light-to-light” recycling and has the potential to incorporate up to 75% recycled content, providing strong support for launching this joint development initiative.

Japan's machine tool orders rose 28% in March, with overseas orders up 40%

Overseas Macro Market

[Have Chinese-funded enterprises already obtained lithium ore export permits from Zimbabwe? Shengxin Lithium responds]

Recently, market news indicated that Zimbabwe’s lithium ore export restrictions have eased, and several Chinese enterprises have already obtained export qualifications; specific quotas are expected to be announced shortly. On April 13, a reporter contacted SengHeng Lithium Energy as an investor. A staff member who answered the call confirmed that the company’s local team has been maintaining communication with Zimbabwean government authorities. Although the staff member did not explicitly state that an export license had been obtained, they noted, “We now have substantive progress” and “Once the authorities allocate quotas, exports could commence very soon. Previously, there were no concrete implementation rules.” The staff member added that while the specific quota figures remain unknown, “The export volume we require is sufficient.”

[EU to Propose Lower Energy Taxes to Offset Soaring Oil and Gas Prices] According to informed sources, the European Commission will adopt a policy document on April 22 outlining measures to mitigate the impact of persistently rising fuel prices on businesses and consumers. The Commission is set to propose reducing energy taxes and grid charges to promote clean technologies while alleviating the shock caused by soaring oil and gas prices. On Monday, benchmark European natural gas prices rose by 8.5%, bringing the cumulative increase since the outbreak of the conflict to 48%.

Iran's parliament speaker, Ali Larijani, said on Tuesday on social media that the U.S. "blockading" the Strait of Hormuz would lead to higher U.S. oil prices. Larijani said, "Enjoy the current prices," and added that with the so-called blockade, Americans "will soon miss" gasoline prices of $4 to $5 per gallon.

Starlink Equipment Discovered in Iran’s Qom Province; 10 Suspects Arrested Iranian police in Qom Province stated on the 13th local time that several Starlink satellite internet devices had been discovered in the region, and 10 suspects had been arrested in connection with the case. The police noted that such satellite internet devices are classified as “items threatening security,” and their possessors will be dealt with severely in accordance with the law.

[Iranian Official Says the U.S. Is Not Sincerely Engaging in Negotiations] Ibrahim Aghaee, head of Iran’s Parliament National Security and Foreign Policy Committee, stated in an interview on April 12, local time, that “the Americans were not conducting sincere negotiations” during the talks held in Islamabad, Pakistan, on April 11–12. Instead, the U.S. attempted to impose its will upon Iran under the guise of diplomatic rhetoric. Aghaee said Iran approached the U.S. with deep mistrust and remained resolute in safeguarding the Iranian people’s interests regarding the nuclear issue, the Strait of Hormuz, sanctions relief, and compensation claims—upon witnessing Iran’s firm resolve, the U.S. side retreated.

Kuwait has raised the official selling price for May crude oil exports to all market buyers to $17 per barrel above the Oman/Dubai average. The official selling price for May Kuwait Super Light crude oil has also been increased to $17 per barrel above the Oman/Dubai average.

[Iran: Any Military Vessel Approaching the Strait of Hormuz Will Face a Strong Response] On the 12th, the U.S. threatened to start blocking any ships from entering or leaving the Strait of Hormuz. The Iranian military warned on the same day that any action by military vessels, under any name or pretext, to approach the Strait of Hormuz would be considered a violation of the ceasefire agreement and would be met with a strong and severe response. On the 12th, the Islamic Revolutionary Guard Corps (IRGC) of Iran issued a statement saying that the Strait of Hormuz is currently under control and is open to non-military vessels under specific regulations. The statement explicitly warned that any move by military vessels, under any name or pretext, to approach the Strait of Hormuz would be considered a violation of the ceasefire agreement and would be met with a strong and severe response.

Price information:

[Upstream Raw Material USD Market Price]

April 10: CFR Northeast Asia ethylene at $1,425/ton, unchanged; CFR Southeast Asia ethylene at $1,475/ton, unchanged.

Northeast Asian propylene FOB Korea average price fell to $1,300/ton, down $25/ton, and CFR China average price fell to $1,315/ton, down $25/ton.

North Asian frozen cargo CIF, propane 925-935 USD/ton; butane 1025-1035 USD/ton.

China South China FOB price for May, propane 987-997 USD/ton; butane 1037-1047 USD/ton.

Taiwan region CIF prices, propane $925-935/ton; butane $1025-1035/ton.

[LLDPE US Dollar Market Price]

Film: 1380 USD/ton (CFR Huangpu)

Injection Molding: 1500 USD/ton (CFR Shanghai);

[HDPE US Dollar Market Price]

Film: USD 1,460/ton (CFR Huangpu)

Hollow: 1380 USD/ton (CFR Dongguan)

Injection molding: $1,420/ton (CFR Yantian)

Pipe: No quotation available

LDPE USD market price

Film: USD 1,600 per metric ton (CFR Dongguan)

Coating: No quotation available.

[PP USD Market Price]

Homopolymer: $1,460/ton (CFR Huangpu);

Copolymer: USD 1,700 per metric ton (CFR Huangpu)

Film grade: USD 1,595/ton (CFR Huangpu)

Pipe: 1800 USD per ton (CFR Shanghai).