【Overseas Highlights】Multiple Nations Plan to Reopen Strait of Hormuz! INEOS & Honeywell Announce Further Asset Sales; BASF Expands Its Footprint in China

News Digest

Raw Material News-INEOS Inovyn sells its Italian chlor-alkali business to Ercos Industrie.

Automotive News Highlights-Honda starts production capacity restructuring in China, planning to shut down two internal combustion engine vehicle factories of Guangqi Honda and Dongfeng Honda.

Other News-BASF expands its plastic additives production capacity in China

Macro News-Multiple countries meet to plan the reopening of the Strait of Hormuz

Price Information-RMB to USD mid-price reported6.8635, lower41

Here are the details of the international news:

1.INEOS Inovyn sells its Italian chlor-alkali business to Esseco Group

According to the company 4 21 Daily statement: INEOS Inovyn, the vinyls subsidiary of INEOS Group,INEOS Inovyn) has agreed to sell its Italian chlor-alkali business to Esec Industrial.Esseco IndustrialThe transaction amount was not disclosed. INEOS Inovyn through its subsidiary Società di Produzione INEOS Inovyn Italia.Inovyn Produzione Italia SpARossignano, operating in ItalyRosignano) and Tavazzano (Tavazzano) two chlor-alkali production bases. Among them, the Rosignano plant has an annual caustic soda production capacity of16.9 100,000 tons, chlorine annual capacity15 Ten thousand tons. The Tavazzano base mainly uses chlorine supplied by the Rosignano base to produce sodium hypochlorite.

2.BASF Expands Plastic Additives Production Capacity in China

BASF is expanding its general-purpose offerings.HALS NOR HALS The product capacity, further consolidating its leading position in the field of plastic additive solutions. These investments aim to meet the growing global demand for high-performance plastics and ensure the stable supply of mature, future-oriented technologies. With advancedNOR HALS BASF is actively responding to three key trends in the plastics application sector: intensified ultraviolet radiation, increasingly unpredictable weather patterns, and increasingly stringent environmental regulations. As climate conditions become more extreme and sustainability requirements continue to rise, growers—particularly in China, the world’s largest agricultural plastics market—are seeking mulch film materials that combine durability, efficiency, and environmental friendliness.

3. 95Billions! Honeywell, to sell again

4 20Today, Honeywell announced that it has agreed to sell its Productivity Solutions and Services.PSS) Business to14billion USD (approximately RMB)95.4billion RMB) in an all-cash transaction to Berry Company.Brady CorporationThe transaction is expected to take place.2026to be completed in the second half of the year, subject to regulatory approvals and satisfaction of other customary closing conditions.PSSis a leading provider of mobile computers, barcode scanners, and printing solutions serving the warehousing and logistics markets, and is currently part of Honeywell Industrial Automation (IA) Part of the business portfolio.2025 PSSThe revenue is approximately11Billion dollars.

4.Asahi Kasei delays operation of battery materials plant.

4 20Asahi Kasei has postponed the start of production at its new battery materials plant under construction in Canada to2029Or later. In the short term, demand is not expected to increase, partly because one of its customers, Honda, has postponed the start of production at its new electric vehicle factory in Canada. Fujikura has adjusted its strategy, shifting its focus to materials for artificial intelligence data centers, in response to the overall uncertainty in the automotive industry. It is understood that Fujikura's plant under construction in Ontario, Canada, is planned to produce separators (insulating materials), which are a key component of lithium-ion batteries.

5.JEPLAN AxensSuccessfully completing the chemical recycling and regeneration of post-consumer waste textiles in Europe

JEPLAN (Japan Environmental Institute)IFPEN Axens 4 21Japan announced jointly with external partners that dozens of tons of post-consumer textile waste rich in polyester, originating from Europe, after sorting and pre-processing in France, have been shipped to Japan.Axens、IFPEN JEPLANThe pilot-scale demonstration unit has completed secondary treatment and successfully produced the product.100%Recycled monomers. This achievement paves the way for establishing a closed-loop polyester recycling system in the textile industry, particularly suitable for sportswear, home textiles, and luxury goods.

6.Epoch Biodesign To be the world's largest nylon6,6 Biological Recycling Demonstration Plant

Global Enzymatic Recycling Technology R&D CompanyEpoch BiodesignIt was recently announced that there are plans to establish a pilot and demonstration production base at Imperial College London's North Acton site in London.Grapht WorksBuilding Europe's first, and also the world's largest nylon6,6 Biological Recycling Demonstration Plant. This project is a significant milestone in the company’s development, marking…Epoch Biodesign Its patented enzymatic recycling technology has officially moved from the laboratory stage to a scale capable of processing hundreds of tons per year of post-consumer nylon.6,6 Industrial-scale demonstration phase of waste.

7.Honda starts production capacity restructuring in China, planning to shut down two internal combustion engine vehicle factories of Guangqi Honda and Dongfeng Honda.

Recently, Honda Motor decided to cut its gasoline-powered vehicle production capacity in China and will shut down two gasoline-powered vehicle manufacturing plants under GAC Honda and Dongfeng Honda. According to the plan, the related GAC Honda plant will…2026 6The production halt for the month, with related factories of Dongfeng Honda scheduled to2027Year of production stop. Honda's joint ventures in China include Guangzhou Honda, a collaboration with Guangzhou Automotive Group, and Dongfeng Honda, a collaboration with Dongfeng Motor Corporation. The two companies together have set up.4A gasoline vehicle production plant, which will shut down one of its facilities.2seats. At that time, Honda's annual production capacity in China will increase from the current120reduced to ten thousand units7210,000 vehicles.

8.Japan plans to invest one trillion yen to strengthen the recycling and reuse of resources such as metals and plastics.

Japanese Cabinet Secretary Kiwamu Okamoto in21At today's cabinet meeting, the Japanese government announced that it has finalized an action plan for a circular economy concerning the recycling of resources such as metals and plastics.2030Before the Spring Festival, the government and the public will jointly invest approximately1Trillions of yen will be used to promote the construction of recycling and utilization bases and the research and development of new technologies. This move aims to strengthen the domestic supply system for recycled materials, reduce dependence on overseas resources, and serve Japan's economic security.

Overseas Macro Market:

Iranian media: As long as the US continues the blockade, Iran will not reopen the Strait of Hormuz.

According to Iran's Tasnim News Agency, continuing the maritime blockade amounts to ongoing hostility; as long as the blockade persists, Iran will not reopen the Strait of Hormuz and, if necessary, will use force to break the blockade. If the U.S. wishes to sustain the specter of war, it should regard the Strait of Hormuz as effectively and fully closed.

U.S. Treasury Secretary Bessent: The Treasury Department will continue to pressure Iran.

U.S. Treasury Secretary Scott· Bessent on social mediaXThe Ministry of Finance will continue to implement extreme pressure to weaken Tehran's ability to obtain, transfer, and repatriate funds. Bensons said that due to the blockade measures, the storage space on Khark Island will be filled, and the fragile Iranian oil wells will be forced to shut down. He also said that the funds stolen by the corrupt leadership will continue to be frozen.

Iran has stated its agreement to suspend military combat. But the war is not over yet.

Local time4 22At dawn, in response to Trump's statement about extending the ceasefire, Iran's state television stated that Iran has become a winner on the battlefield. Controlling the Strait of Hormuz is a very valuable leverage gained by Iran in this war. Iran has agreed to a suspension of military operations, but the war is not yet over. At the same time, Iran's state television also pointed out that Iran must be vigilant against any statements implying that Iran must participate in negotiations, otherwise the enemy will attack Iran. Even if the maritime blockade is lifted, Iran's participation in negotiations must be conditional on not raising any issues that infringe upon Iran's independence and dignity, with the foremost being Iran's defense and missile capabilities and its nuclear capabilities and technology.

U.S. Senate4 21At the hearing today, current Fed Chair Powell was mentioned.10Next]

Kevin, nominee for Federal Reserve Chair· Wash completely rejected Powell's policy framework, advocating for "institutional change". Wash strongly criticized the Federal Reserve under Powell's leadership, believing its policy path had serious mistakes.

Wash made it clear that:The Federal Reserve has missed the mark, and we are still bearing the consequences.2021 2022"consequences of policy mistakes over the years." Warsh advocates for a "regime change" at the Federal Reserve.regime change")," and establish a "different, new inflation framework," which is actually a complete rejection of Powell's current policy framework.

Trump: If the U.S. lifts the naval blockade It will never be possible to reach an agreement with Iran.

Former U.S. President Trump on social media platformsTruth SocialPosted online, stating that if the U.S. lifts the blockade of the Strait of Hormuz, it will never be possible to reach an agreement with Iran. Trump said Iran wants the U.S. to lift the maritime blockade because it costs them millions of dollars daily.5Billion dollars.

【Multiple countries meet to plan the reopening of the Strait of Hormuz】

CCTVInternational News, local time4 22 4 23Day, from30Delegates from multiple countries and regions will meet in London, UK, to jointly develop a plan for the "Reinvigorating the Strait of Hormuz" initiative. This is part of a multi-nation coalition led by the UK and France to reinvigorate the Strait of Hormuz. UK Defence Secretary John Healey stated that the mission of this meeting is to translate diplomatic consensus into a shared plan to ensure freedom of navigation in the Strait of Hormuz and support a lasting ceasefire. 

Price information:

Central parity rate of RMB against the US dollar6.8635, downward adjustment41Point; Previous trading day’s midpoint rate6.8594Previous trading day's official closing price6.8165, the previous night session closed at6.8316。

Upstream Raw Material USD Market Price

4 21 CFRNortheast Asia1370 /Ton stableCFRSoutheast Asia1410 /Ton stable.

Northeast Asia PropyleneFOBAverage price to South Korea1320 /ton stable,CFR1320 /Ton stable.

North Asian frozen cargo CIF, propane759-769 /ton; butane859-869Dollar per ton.

51008-1018 /1058-1068 /

Taiwan region frozen goods CIF price, propane759-769 /Ton; Butane859-869Dollar per ton.

【LLDPEUSD Market Price

Film1370 / CFR(Huangpu)

Injection Molding1500 / CFRShanghai)

【HDPEUS Dollar Market Price

Film1420 / CFR(Huangpu)

Hollow1360 / CFRDongguan

Injection Molding1420 / CFRYantian)

Pipe: No quotation available

【LDPEUSD Market Price

Thin film1580 / CFRDongguan;

Coating: No quotation.

【PP

1400 / CFR(Huangpu)

Copolymerization:1680 / CFRHuangpu;

Membrane material1630 / CFRHuangpu;

Transparent:1560 / CFRHuangpu;

Pipe: No quotation.