SunSirs: Plastics and Rubber Industries Bulk Commodity Intelligence

Macroeconomics

1. [Energy Conservation and Carbon Reduction] The General Office of the State Council has issued a directive outlining measures to implement energy conservation and carbon reduction work at a higher level and of higher quality. The directive mandates that energy conservation and carbon reduction be integrated throughout the entire process and across all aspects of economic and social development, and calls for the resolute curbing of unreasonable growth in total energy consumption. It emphasizes vigorously developing non-fossil energy sources and new types of energy storage, as well as accelerating the construction of a new-type power system. Furthermore, it calls for accelerating energy conservation and carbon reduction efforts within digital infrastructure, and comprehensively enhancing energy efficiency levels in key industries such as steel, non-ferrous metals, petrochemicals, chemicals, and building materials.

2. [Mechanical and Electrical Products] In the first quarter, China exported mechanical and electrical products valued at 4.34 trillion RMB, representing a year-on-year increase of 18.3%. This figure accounted for 63.4% of total export value—a rise of 3.5 percentage points compared to the same period last year. Notably, the export values ​​of "green products"—including electric vehicles, lithium-ion batteries, and wind turbines and their components—saw respective increases of 77.5%, 50.4%, and 45.2%.

3. [UK CPI] In March, the UK's Consumer Price Index (CPI) rose by 3.3% year-on-year, aligning with market expectations. On a month-on-month basis, the CPI increased by 0.7%, marking the largest monthly rise since April 2025.

4. [Japan's Imports and Exports] In March, Japan's total export value grew by 11.7% year-on-year—a significant acceleration from the previous month's figure of 4%. Specifically, exports to China increased by 17.7% year-on-year, while exports to the United States rose by 3.4%, marking the first positive growth recorded in four months. Meanwhile, Japan's imports increased by 10.9% year-on-year in March.

Plastics and Rubber

1. [PP] On April 22, Jiujiang Petrochemical's PP production capacity stood at 100,000 tons per year, with current operating loads remaining at normal levels. The ex-factory reference price for T30S wire-drawing grade material was lowered by 100 RMB/ton, falling to 9,200 RMB/ton.

2. [SBR] On April 22, the Styrene-Butadiene Rubber (SBR) market in East China underwent a weak consolidation phase. Supplier offers were reduced by 800 RMB/ton, dropping to 16,400 RMB/ton. Currently, mainstream quotations for SBR 1502—sourced from Fushun, Jihua, Qilu, Weitai, Yibang, and Lanhua—range between 16,400 and 16,800 RMB/ton.

3. [Natural Rubber] On April 22, the natural rubber market in the Shanghai region trended upward. Traders raised their offers by 150 to 250 RMB/ton. Mainstream quotations for 2024-vintage "Yunbao" and "Guangkeng" brands ranged from 17,050 to 17,200 RMB/ton; mainstream quotations for 2024-vintage "Haibao" ranged from 17,100 to 17,300 RMB/ton; and mainstream quotations for Vietnamese 3L grade ranged from 17,050 to 17,350 RMB/ton.