Overseas News: Meetings Between US and Iran Over the Weekend Possible; Honda to Sell Chinese-Made Electric Vehicles for First Time in Japan; Ford Reorganizes Electric Vehicle Business

International News Digest:

Raw Material News- New high-performance transparent copolyester solution! Eastman's BPA-free recycled material enters small appliance food contact components

Automotive NewsHonda will launch its first China-made electric vehicle in Japan.

Packaging News: Five Years Ahead of Schedule! World’s Largest Olive Oil Company Achieves 40% Recycled Content in PET Bottles

Exhibition News - Daicel Group Integrates Former Polyplast Business and Makes New Debut at Chinaplas 2026

Macro News- Iranian Military: “Dawn” Arrives in the Middle East? Trump: Next U.S.-Iran Meeting May Take Place This Weekend; Israel and Lebanon Agree to 10-Day Ceasefire!

Here are the details of the international news:

High-performance transparent copolyester new plan! Eastman's BPA-free recycled material enters food contact parts of small appliances

Philips Walita is advancing its sustainability initiatives by incorporating Eastman Tritan™ Renew copolyester into the jar design of its premium Series 5000 RI2242/90 blender.

This blender cup previously used conventional Tritan material. By switching to Tritan™ Renew, Philips Walita achieves significant sustainability benefits without compromising cup performance, clarity, durability, or safety—while incorporating certified recycled content*.

2.Target achieved five years ahead of schedule! PET bottles of the world’s largest olive oil company now contain 40% recycled content.

On April 15, the world's largest olive oil company, Spain's Deoleo, released its 2025 Sustainability Report, outlining major progress made in ESG areas during the previous fiscal year. Among these, circular economy and industrial efficiency have been solidified as structural pillars of Deoleo's ESG strategy. According to the company's report, 40% of its bottled products now use recycled PET, an increase of 15 percentage points compared to 2024, achieving the original 2030 target five years ahead of schedule. Additionally, in 2025, the company reduced virgin plastic by 11.4% compared to the 2020 baseline.

Using recycled plastic reduces energy consumption by 70% and water usage by 90%; additionally, this advancement leads to a net reduction of 7.6% in plastic waste. Currently, 79% of Deoleo's bottles are recyclable. At the industrial level, the "zero waste" model continues to progress, with 94.4% of the waste generated at the Alcolea and Tavarnelle factories being recycled and given a "second life."

3. Targeting the Indian plastic market, Teknor Apex establishes polymer joint venture PolyTe

Teknor Apex B.V. (a subsidiary of Teknor Apex Co.) announced the formation of a joint venture with Shriram Polytech Ltd. (a subsidiary of DCM Shriram Ltd.), an Indian PVC compounder.PolyTekOperate the brand.

Teknor Apex, headquartered in Pawtucket, Rhode Island, stated that this collaboration represents a significant milestone in its strategic development, enabling the company to strengthen and expand its polymer compounding portfolio while building global partnerships in high-growth markets. By integrating Shriram Polytech’s strong domestic market presence and manufacturing capabilities in vinyl compounding with Teknor Apex’s global formulation expertise, the joint venture aims to deliver high-performance, technologically advanced specialty polymer products for a wide range of industrial applications.

4.Honda will launch its first China-made electric vehicle in Japan.

Honda Motor launched a new all-electric model, the Insight, in Japan on April 17, becoming the first Japanese domestic automaker to introduce a China-made vehicle in the Japanese market.

According to Honda's official announcement on April 16, the car is priced at 5.5 million yen (approximately 34,582 USD). Consumers can apply for a 1.3 million yen electric vehicle subsidy in Japan, resulting in an actual purchase price of 4.2 million yen after the subsidy. Hiroshi Hattori, head of Honda's product planning department, said, "We have set a limited sales strategy based on the target customer base and brand's market share in the segment."

5. Ford Restructures Its Electrification Business

Ford Motor Company recently announced that Doug Field, its Chief Executive for Electric Vehicles, Digital, and Design, will leave the company next month. At the same time, the company will dissolve its independent electric vehicle business unit and establish a new "Product Creation and Industrialization" organization. This adjustment is a key step in Ford's "Ford+" strategy to achieve an adjusted EBIT margin of 8% by 2029.

Field joined Ford in 2021, previously serving as Vice President at Tesla and head of Apple's car project. His hiring was seen as a key move by then-CEO Jim Farley to bring Silicon Valley's expertise to counter competition from Tesla and Chinese automakers. In 2022, Ford split into "Model e" for electric vehicles and "Ford Blue" for traditional combustion engine vehicles, with Field appointed as the leader of Model e.

6. Daicel Group integrates former Polyplastics business and makes a grand debut at Chinaplas 2026

The century-old Daicel Group has now completed the full integration of Polyplastics’ engineering plastics business, building on its professional expertise and promoting synergistic development.

This integration brings together both parties' extensive strengths in production and R&D, aiming to jointly drive innovation and unlock limitless possibilities in materials science and its applications. Following the integration, the combined entity will debut as "New Daicel" at Chinaplas 2026.

Overseas Macroeconomic Market

U.S. and Iran may resume talks this weekend

US President Trump said the prospects of reaching an agreement with Iran are optimistic, and stated that Iran has agreed to abandon its plans to develop nuclear weapons and hand over nuclear materials, but Tehran has not yet publicly confirmed this; ② Trump also said that the next meeting between the US and Iran may take place this weekend. If the US-Iran agreement is signed in Islamabad, Pakistan, he "might go there."

Iranian military: The Iranian Armed Forces are currently on high alert.

If the Strait of Hormuz cannot be reopened, we must prepare for a significant increase in energy prices. (When asked whether further release of emergency oil reserves might be possible) It's not yet that far, but this option is certainly under consideration. We should be prepared for market volatility over a period of time.

U.S. to delay delivery of weapons to some European countries due to Iran conflict

Reuters reported on April 17 that, according to informed sources, U.S. officials have informed certain European allies that deliveries of some previously contracted weapons will be delayed as ongoing hostilities involving Iran continue to deplete U.S. weapons stockpiles. It is highly likely to be postponed. According to these sources, multiple European countries—including those in the Baltic region and the Scandinavian Peninsula—will be affected.

South Korea stated that the vessel carrying crude oil from Yanbu Port in Saudi Arabia safely departed from the Red Sea.

The Ministry of Oceans and Fisheries of South Korea stated that a Korean oil tanker, departing from the port of Yanbu in Saudi Arabia, safely passed through the Red Sea on Friday; this is the first time South Korea has transported crude oil via this alternative route since the Strait of Hormuz was blocked. South Korea has been actively seeking to use the Red Sea as an alternative to the Strait of Hormuz route. The ministry provided safety support for the crew and the vessel, including 24-hour real-time monitoring and establishing real-time communication channels between the ministry, the vessel, and the shipping company.

Spanish company Repsol regains control of its oil assets in Venezuela

Spanish energy giant Repsol announced on the 16th that it has reached an agreement with the Venezuelan government to regain control of its oil assets in Venezuela, and is preparing to significantly increase production in the coming years.

Iranian President Meets Pakistani Army Chief of Staff, Calls for Unity Among Islamic Countries

According to the Islamic Republic of Iran Broadcasting on the 17th, Iranian President Pezeshkian stated during talks in Tehran with Pakistani Army Chief General Munir that Iran is committed to achieving lasting peace and stability in the region, regards all Islamic countries as brotherly nations, and emphasized that its military actions against U.S. military bases in the Middle East are based on defensive necessity.

[Iran's Revolutionary Guard says Resistance Front warns ships in the Bab al-Mandeb Strait]

The Islamic Revolutionary Guard Corps of Iran posted a message on social media platforms in the early hours of the 17th, stating that a commander of the Resistance Front revealed a severe and unprecedented warning had been issued to all commercial and military vessels in the Bab-el-Mandeb Strait. The warning states: "From noon tomorrow, anyone intending to pass through the Bab-el-Mandeb Strait needs to be more vigilant than ever." The message indicates that the situation in the Bab-el-Mandeb Strait is entering a new phase of military tension.

Price Information:

The USD/CNY central parity rate was quoted at 6.8622, down 6 basis points; the previous trading day's central parity rate was 6.8616, the official closing price of the previous trading day was 6.8197, and the overnight trading session closed at 6.8230.

Upstream Raw Material USD Market Price

On April 16, CFR Northeast Asia ethylene was at USD 1,400/ton, down USD 25/ton; CFR Southeast Asia ethylene was at USD 1,450/ton, down USD 25/ton.

Northeast Asia propylene FOB Korea average price stabilized at USD 1,330 per metric ton, and CFR China average price stabilized at USD 1,345 per metric ton.

The CFR price of frozen cargo in North Asia, propane 839-849 USD/ton; butane 939-949 USD/ton.

South China CIF prices for May propane: USD 986–996/ton; butane: USD 1036–1046/ton.

CIF prices for refrigerated cargo in the Taiwan region: propane at USD 839–849 per metric ton; butane at USD 939–949 per metric ton.

[LLDPE US Dollar Market Price]

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

Injection molding: 1500 USD per ton (CFR Shanghai)

HDPE USD Market Price

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

Hollow: $1,380/ton (CFR Dongguan);

Injection molding: 1420 USD/ton (CFR Yantian);

Pipe: No quotation;

LDPE USD market price

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

Coating: No quote.

PP USD Market Price

Homopolymer: USD 1,450/ton (CFR Huangpu)

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

Film grade: USD 1,710 per metric ton (CFR Huangpu)

Transparent: $1,620/ton (CFR Huangpu);

Pipe: 1720 USD/ton (CFR Shanghai)