【Overseas news】Kuraray Raises Prices for All PVA and Polyester Fibers; Honeywell Sells PSS Business; Apple Appoints New CEO

International News Briefing:

Raw Material News - Stepan Announces Price Increase for Polyester Polyols Used in Rigid Foam in the Americas

Additive News: Tokyo University of Science Develops Heat-Resistant Enzyme, Achieving Breakthrough in PET Bio-Recycling

Tech News: Apple Announces Tenus to Succeed Cook as CEO

Automotive News – Toyota and CATL Reportedly to Jointly Produce Hybrid Vehicle Batteries in Indonesia

Macro News -Shipping data shows another Iranian oil tanker has returned to Iran after breaking through the U.S. blockade.

Price Information-The USD/CNY central parity rate was quoted at 6.8594, up 54 points.

The following is the details of international news.：

Stepan announces price increase for polyester polyols used in rigid foam in the Americas

Recently, Stepan announced that, effective May 15, 2026 (or as permitted by contract), the company will increase the price of STEPANPOL® polyester polyol for rigid foam applications in the Americas by $0.06 per pound (approximately $132 per ton); and the price of TERATE® polyester polyol for rigid foam applications in the Americas by $0.08 (approximately $176 per ton).

This price adjustment is due to the continuous increase in raw material prices.

Kuraray raises prices of polyvinyl alcohol (PVA) and polyester fibers

Kuraray announced its decisionIncrease the prices of polyvinyl alcohol fiber and polyester fiber products in both domestic and international markets.Effective date fromShipping starts from April 20, 2026The product begins to execute.

Honeywell announces sale of part of its business for $1.4 billion

Recently, Honeywell International Inc. announced that it has signed an agreement to sell its Productivity Solutions and Services business (PSS) to Brady Corporation for $1.4 billion in an all-cash transaction. Brady Corporation is an international manufacturer specializing in identification and protection solutions, headquartered in Milwaukee, Wisconsin. The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals.

Agilyx acquires majority stake in GreenDot for 4.7 million euros

Agilyx has reached an agreement to acquire Circular Resources' stake, increasing its ownership in GreenDot from 46% to 50.1%. The €4.7 million transaction is funded by a six-month financing facility with an annual interest rate of 7%. This equity acquisition will enable Agilyx to fully consolidate the platform financially.

Tokyo University of Science develops heat-resistant enzyme, biorecycling of PET achieves breakthrough

A recent study by Tokyo University of Science (TUS) has shed light on a sustainable solution. The researchers explored the technology of bioplastic recycling (biorecycling), which involves using enzymes or microorganisms to break down polymer molecules.

Among numerous highly promising research subjects, microbial cutinases stand out—these enzymes are naturally produced by bacteria and fungi, originally for degrading plant cuticles, and have now demonstrated potential for recycling polyethylene terephthalate (PET), a common plastic widely used in plastic bottles and synthetic fibers.

By deepening the understanding of the structure and function of heat-resistant enzymes, this study lays the foundation for innovative recycling technologies, which are expected to significantly reduce plastic waste and promote environmental sustainability. With the growing global demand for efficient recycling solutions, biodegradation technologies are becoming an important pathway toward a cleaner and greener future.

Toyota and CATL are reportedly set to jointly produce hybrid vehicle batteries in Indonesia.

Indonesian news website Detik, citing a senior executive of Toyota Motor Manufacturing Indonesia, reported that the company is collaborating with CATL to produce hybrid vehicle batteries in this Southeast Asian country. The report also stated that the project’s investment will amount to 1.3 trillion Indonesian rupiah, and production will be carried out at CATL’s plant in Karawang, West Java Province, covering battery cell and module manufacturing. Production of components is scheduled to commence in the second half of this year.

Apple announces that Ternus will succeed Cook as CEO

The company announced on the 20th that John Ternus, Senior Vice President of Hardware Engineering, will succeed Tim Cook as CEO effective September 1. Apple CEO Cook will transition to Executive Chairman of the Board.

The announcement said that Cook will continue to serve as CEO through this summer to ensure a smooth transition with Ternus. As executive chairman of the board, Cook will be involved in some company affairs, including engaging with policymakers around the world.

The announcement also stated that he has served for the past 15 years. Arthur Levinson, the non-executive chairman of the company's board, will become the lead independent director starting September 1. Ternus will also join the board on September 1.

Overseas Macroeconomic Market

On the 21st, Iranian state media, the Islamic Republic News Agency, reported that so far, no Iranian delegation has traveled to Islamabad, the capital of Pakistan. Earlier that day, a Pakistani diplomatic source said that an initial working team from Iran had arrived in Islamabad.

[Iranian Armed Forces: Ready to Respond Quickly to Enemy Threats] According to the Islamic Republic of Iran Broadcasting on the 21st, the commander of the Hatam-e-Omni Central Headquarters of the Iranian Armed Forces, Abdolrasoul, stated that the Iranian Armed Forces are united with the government and people, following the instructions of the Supreme Leader, and are ready to respond decisively and swiftly to threats and actions by enemies.

[Advance team of Iranian delegation reportedly arrives in Islamabad] According to Pakistani diplomatic sources, an advance team of the Iranian delegation has arrived in Islamabad, the capital of Pakistan. Iranian authorities have not yet confirmed this information.

Energy Aspects' SEN stated that oil shipments through the Strait of Hormuz may never return to normal. After the Middle East conflict ends, oil storage demand will increase significantly.

Maritime data indicates that another Iranian oil tanker has broken through U.S. sanctions and returned to Iran. According to information from the maritime intelligence company “TankerTrackers,” an oil tanker belonging to the National Iranian Tanker Company unloaded approximately 2 million barrels of crude oil in Indonesia and subsequently sailed back to Iran through the relevant sanctioned maritime zones. The vessel is currently en route to Kharg Island—the main Iranian oil export hub—and is expected to arrive there on local time the 22nd. It is reported that the tanker departed from Iran in late March, heading for Indonesia’s Riau Islands.

President Trump said on Monday that Iran "will negotiate." However, Iran has not confirmed that it will send a delegation to Pakistan for U.S.-Iran talks. Trump said during a phone interview with an American media outlet: "They will negotiate. If they don't negotiate, they will see problems they have never seen before." Trump said he hopes the U.S. and Iran can reach a "fair deal," and emphasized that Iran "will not have nuclear weapons."

Price Information:

The central parity rate of the RMB against the US dollar was set at 6.8594, up by 54 basis points; the previous trading day’s central parity rate was 6.8648, the previous trading day’s official closing rate was 6.8195, and the overnight session closed at 6.8172.

[Upstream Raw Material USD Market Prices]

On April 20, CFR Northeast Asia ethylene stood at USD 1,370/ton, down USD 30/ton; CFR Southeast Asia ethylene stood at USD 1,410/ton, down USD 40/ton.

Northeast Asia propylene FOB South Korea average price stabilized at USD 1,320 per metric ton, while CFR China average price declined by USD 25 per metric ton to USD 1,320 per metric ton.

North Asian frozen cargo CIF, propane at 820-830 USD/ton; butane at 920-930 USD/ton.

China South China import price for frozen cargo in May: Propane 1008-1018 USD/ton; Butane 1058-1068 USD/ton.

Free on board price in Taiwan, propane 820-830 USD/ton; butane 920-930 USD/ton.

[LLDPE US Dollar Market Price]

Film: USD 1,370/ton (CFR Huangpu)

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

HDPE US Dollar Market Price

Film: 1420 USD/ton (CFR Huangpu)

Hollow: 1360 USD/ton (CFR Dongguan)

Injection molding: 1420 USD/ton (CFR Yantian)

[LDPE USD market price]

Film: 1580 USD/ton (CFR Dongguan)

[PP US Dollar Market Price]

Membrane material: USD 1,630 per metric ton (CFR Huangpu).

Pipe: No quotation.