Latest Information on Bulk Raw Materials

Macro

1. [PPI] National Bureau of Statistics: In May 2025, the national industrial producer prices fell by 3.3% year-on-year and 0.4% month-on-month; the industrial producer purchase prices fell by 3.6% year-on-year and 0.6% month-on-month. On average from January to May, the industrial producer prices and purchase prices fell by 2.6% year-on-year.

2. [CPI] National Bureau of Statistics: In May 2025, the national consumer price index fell by 0.1% year-on-year. Among them, urban areas remained unchanged, and rural areas fell by 0.4%; food prices fell by 0.4%, non-food prices remained unchanged; consumer goods prices fell by 0.5%, and service prices rose by 0.5%. On average from January to May, the national consumer price index fell by 0.1% year-on-year.

3. [Foreign Exchange Reserves] According to statistics from the State Administration of Foreign Exchange, as of the end of May 2025, China's foreign exchange reserves were US$3,285.3 billion, an increase of US$3.6 billion from the end of April, an increase of The increase was 0.11%.

4. [Non-farm payrolls in the United States] Data released by the U.S. Bureau of Labor Statistics showed that the number of non-farm payrolls in the United States increased by 139,000 in May, hitting a new low since February this year. The unemployment rate in the United States remained at 4.2% in May, remaining unchanged from the previous month for three consecutive months.

5. [Russian Central Bank cuts interest rates] On the 6th local time, the Central Bank of Russia issued an announcement announcing a 100 basis point cut in the key interest rate to 20%.

6. [Indian Central Bank cuts interest rates] On June 6, the Indian Central Bank cut its benchmark interest rate by 50 basis points. The interest rate cut was 25 basis points to 5.5%, which was much larger than the market's expectation of 25 basis points. It was the third consecutive interest rate cut. At the same time, the deposit reserve ratio was lowered by 100 basis points to 3%, while the market expected 4%.

Energy

1. [Crude Oil] On June 6, international crude oil futures rose. The settlement price of the July contract of WTI crude oil futures in the United States was US$64.58 per barrel, an increase of US$1.21 or 1.9%. The settlement price of the August contract of Brent crude oil futures was US$66.47 per barrel, an increase of US$1.13 or 1.7%.

2. [Fuel oil] According to Enterprise Singapore (ESG), Singapore's fuel oil inventory rose by 243,000 barrels in the week ending June 4, reaching a six-week high of 22.581 million barrels.

3. [Coking coal] On June 9, the auction price of coking coal in Yulin market fell. The starting price of double four clean coal A≤4, S≤0.4, V37, G≥15 was 530 RMB/ton, with 16,000 tons listed and the transaction price was 530 RMB/ton, down 10 RMB/ton from the previous 4 days.

4. [Liquefied gas] On June 6, the latest quotation of liquefied gas of Shandong HSBC Petrochemical Co., Ltd. was reduced by 50 RMB/ton to 4,650 RMB/ton.

5. [Petroleum coke] On June 6, Wudi Xinyue Petroleum Coke 4B was quoted at 1,403 RMB/ton, an increase of 30 RMB/ton from the previous trading day. The sulfur content is about 5.0%, the delayed coking unit is 600,000 tons/year, and the daily output is 400 tons.

Chemical industry

1. [Fluorite mine] Henan Provincial Department of Natural Resources released a mineral resource exploration The results show that the Lushi-Xixia area has submitted more than 30 million tons of high-purity quartz ore, and the Luanchuan-Songxian area has submitted more than 10 million tons of fluorite resources.

2. [Lithium battery] Recently, the 20,000-ton lithium battery crushing and recycling system project in Yichang City, Hubei Province was launched.

3. [Epichlorohydrin] It is reported that Nanshan Aluminum Company plans to invest in the construction of an annual production of 200,000 tons of caustic soda and 165,000 tons of epichlorohydrin projects, with a total investment of approximately RMB 1.868 billion.

4. [BDO] On June 6, the load of Inner Mongolia Junzheng's 300,000-ton BDO unit was 70%, and it is temporarily planned to be overhauled for 7 days on June 25.

5. [Methanol] Iran ZPC's 1.65 million tons/year methanol unit has been restarted recently, and the specific load is to be tracked; another 1.65 million tons/year methanol unit is temporarily kept in a parking state.

6. [Soda ash] The overall capacity utilization rate of soda ash in the week ofJune 6 was 80.76%, an increase of 2.19% month-on-month; the output of soda ash was 7 4,100 tons, an increase of 2.78%.

7. [Soda ash] China's soda ash enterprises shipped 701,400 tons in the week of June 6, and the overall soda ash shipment rate was 99.62%.

8. [Soda ash] On June 6, the total inventory of domestic soda ash manufacturers was 1.627 million tons, an increase of 2,700 tons from last Thursday, an increase of 0.17%; among them, the inventory of light soda ash was 790,000 tons and the inventory of heavy soda ash was 837,000 tons.

9. [Caustic soda] (202505 30-0605) The average capacity utilization rate of sample enterprises with a capacity of 200,000 tons or more of caustic soda in China was 83.5%, down 0.6% from the previous week.

10. [Diethylene glycol] On June 5, the total shipment from the two warehouses in Zhangjiagang was 1,499 tons, an increase of 811 tons from the previous day. As of now, the inventory of the two warehouses is 30,600 tons.

11. [Chloroform] On June 9, the ex-factory price of chloroform bulk water in Shandong Jinling was 1,600 RMB/ton at Dawang Factory, and the factory cash withdrawal was 1,600 RMB/ton at Dongfang The factory price is 1,600 RMB/ton, down 200 RMB/ton.

Rubber and plastic

1. [PP] The production capacity of the Sino-Saudi Tianjin PP production line is 450,000 tons/year. It was shut down for maintenance on April 21 and is scheduled to restart on June 6. The supply of goods will gradually resume.

2. [PVC] As of June 5, the statistics of the new sample of PVC social inventory decreased by 1.48% month-on-month to 588,800 tons, a year-on-year decrease of 33.83%; among them, the East China region was 536,500 tons, a month-on-month decrease of 1.51% and a year-on-year decrease of 34.95%; the South China region was 52,300 tons, a month-on-month decrease of 1.19% and a year-on-year decrease of 19.60%.

3. [HDPE] The maintenance loss of PE production equipment in May 2025 was about 509,000 tons, an increase of 46.00% month-on-month and an increase of 15.40% year-on-year.

Textile

1. [Textile] As of June 5, the operating load of textile enterprises in mainstream regions was 74%, a month-on-month decrease 0.40%.

2. [Acrylonitrile] On June 6, the listed price of acrylonitrile of Fushun Petrochemical was reduced by 200 RMB/ton to 8,300 RMB/ton, and the manufacturer's plant capacity of 92,000 tons/year was operating normally.

3. [Lint Cotton] The U.S. Department of Agriculture reported that from May 23 to 29, 2025, the net export contract volume of upland cotton in the United States for 2024/25 was 24,900 tons, down 8% from the previous week and 2% from the average of the previous four weeks. The shipping volume was 71,700 tons, up 15% from the previous week and 1% from the average of the previous four weeks.

4. [Lint Cotton] According to the USDA weekly export report, as of May 22, 2025, the cumulative contract volume of Pima cotton in the United States this year was 101,000 tons, reaching 103.1% of the USDA export expectation (98,000 tons), and the oversold trend is becoming more and more obvious; the shipping progress is 78.2%, and the import volume of Pima cotton in the United States in mainland China accounts for less than 10%.

Steel

1. [Steel] Last week, the supply of the five major steel varieties was 8.8038 million tons, down 4,700 tons from the previous week, a decrease of 0.1%; the total inventory was 13.6381 million tons, up 1.1% from the previous week. The month-on-month decrease was 17,900 tons, a decrease of 0.1%; the apparent consumption was 8.8217 million tons, a month-on-month decrease of 3.5%.

2. [Silicon Manganese] Last week, Mysteel statistics showed that the operating rate of 187 independent silicon manganese enterprises in the country was 35.03%, an increase of 0.26% from the previous week; the average daily output was 24,555 tons, an increase of 280 tons from the previous month, a record high in the past month.

3. [Galvanized Sheet] On June 6, monitoring of the domestic main market coated and galvanized sheet coil warehouse Inventory: galvanized 1.0895 million tons, a decrease of 14,100 tons from the previous week; color-coated 273,800 tons, a decrease of 1,900 tons from the previous week. The total inventory of coating and plating is 1.3633 million tons, a decrease of 16,000 tons from the previous week.

4. [Hot-rolled coil] It is reported that the planned output of 79 hot-rolled strip steel mills in China in June 2025 is 9.4996 million tons, and the actual total output in May 2025 is 9.3185 million tons, with an expected increase of 181,100 tons.

5. [Steel] China Iron and Steel Association: In late May 2025, key statistics show that steel enterprises produced a total of 23 million tons of crude steel, with an average daily output of 2.091 million tons, a decrease of 4.9% from the previous month; 21.04 million tons of pig iron, with an average daily output of 1.913 million tons, a decrease of 3.5% from the previous month; 23.94 million tons of steel, with an average daily output of 2.177 million tons, a month-on-month increase of 2.5%.

6. [Steel] China Iron and Steel Association: In late May 2025, key statistics show that steel enterprises produced a total of 23 million tons of crude steel, with an average daily output of 2.091 million tons, a month-on-month decrease of 4.9%; pig iron produced 21.04 million tons, with an average daily output of 1.913 million tons, a month-on-month decrease of 3.5%; steel produced 23.94 million tons, with an average daily output of 2.177 million tons, a month-on-month increase of 2.5%. The steel inventory of steel enterprises was 15.3 million tons, a decrease of 1.05 million tons from the previous ten days, a decrease of 6.4%; an increase of 2.93 million tons from the beginning of the year, an increase of 23.7%; an increase of 10,000 tons from the same ten days of the previous month, an increase of 0.1%; an increase of 730,000 tons from the same ten days of last year, an increase of 5.0%, and a decrease of 320,000 tons from the same ten days of the previous year, a decrease of 2.0%.

Nonferrous metals

1. [Gold] According to the data of the central bank, the gold reserves at the end of May were 73.83 million ounces (about 2296.37 tons) , an increase of 60,000 ounces (about 1.86 tons) from the previous month, marking the seventh consecutive month of gold holdings.

2. [Tin] According to Mysteel's survey of 20 domestic tin smelters (involving 310,000 tons of refined tin production capacity and 97% of total production capacity coverage), the refined tin output in May 2025 was 14,670 tons, a decrease of 0.3% from the previous month and 8.34% from the previous year. The cumulative refined tin output from January to May 2025 was 72,900 tons, a cumulative year-on-year decrease of 0.75%.

Building materials

1. [Glass] As of June 5, the total inventory of sample float glass enterprises nationwide was 69.754 million TEUs, a new high since October last year, an increase of 2.092 million TEUs or 3.09% month-on-month, more than 20% higher than the same period last year, and the inventory days were 31.3 days, an increase of 0.9 days from the previous period.

Agricultural and sideline products

1. [Soybean meal] The General Administration of Customs announced that starting from today (June 6), the import of Uruguayan soybean meal and rapeseed meal that meet relevant requirements will be allowed.

2. [White Sugar] China Sugar Association: As of the end of May 2025, the production of sugar in the 2024/25 sugar production season has been completed. During this sugar production season, the country produced a total of 11.1621 million tons of sugar, an increase of 1.1989 million tons year-on-year, an increase of 12.03%. The country's cumulative sales of sugar were 8.1138 million tons, an increase of 1.521 million tons year-on-year, an increase of 23.07%; the cumulative sugar sales rate was 72.69%, an increase of 6.52 percentage points year-on-year.

3. [Corn] The U.S. Department of Agriculture report shows that as of May 29, 2025, the 2024 /25, the United States exported 33,000 tons of corn to China (mainland), compared with 2.65 million tons in the same period last year.

4. [Soybeans] According to the U.S. Department of Agriculture, as of the week of May 29, the net sales of U.S. soybean exports in 2025/2026 were 194,000 tons, compared with 146,000 tons in the previous week; the net sales of soybeans in 2026/2027 were 4,000 tons, compared with 33,000 tons in the previous week.

5. [Soybean meal] According to the U.S. Department of Agriculture report, as of the week of May 29, the U.S. soybean meal export sales in 2024/25 were 25 .4700 tons, in line with market expectations. Soybean meal sales in 2025/26 were 10,200 tons, indicating that buyers are still on the sidelines for forward purchases.

6. [Rapeseed] Oil World predicts that EU rapeseed production in 2025/26 is expected to be 19.2-19.4 million tons, compared with a five-year low of 16.9 million tons last year. The countries with the largest increases are expected to be Romania (an increase of 1 million tons year-on-year), Germany (an increase of 300,000 tons), France (an increase of 300,000 tons) and the Czech Republic (an increase of 200,000 tons).

7. [Palm oil] According to Malaysia According to data released by the West Asian Palm Oil Association (MPOA), Malaysia's palm oil production is expected to increase by 3.07% from May 1 to 31, including a 4.05% increase in the Malay Peninsula, a 2.1% increase in Sabah, a 1.27% increase in Sarawak, and a 1.9% increase in eastern Malaysia.

8. [Palm Oil] Data from the South Malaysian Palm Oil Association (SPPOMMA) showed that from May 1 to 31, 2025, South Malaysia's palm oil production increased by 3.53% month-on-month, of which fresh fruit bunch yield increased by 1.90% month-on-month and oil yield rate (OER) increased by 0.30%.

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