Latest Information on Bulk Raw Materials

Macro

1. [Financial Support for Consumption Expansion] Six departments jointly issued the "Guiding Opinions on Financial Support to Boost and Expand Consumption". The "Opinions" pointed out that it is necessary to consolidate the macroeconomic and financial foundation, support residents' employment and income growth, optimize insurance protection, and actively cultivate consumer demand. Strengthen the incentives of structural monetary policy tools, increase credit support for key areas of service consumption, and develop diversified financing channels such as bonds and equity.

2. [US Tariffs] The US Department of Commerce said that it has issued new procedures to include more auto parts products in the scope of the 25% tariff on imported auto parts.

3. [Federal Reserve] Federal Reserve Powell said in his congressional testimony that the Federal Reserve is currently in a favorable position and can wait patiently and consider adjusting its monetary policy stance after having a clearer judgment on the direction of the economy. But he did not rule out that the impact of tariffs on inflation may not be as great as expected, and did not rule out the possibility of an early rate cut.

4. [US Consumer Confidence Index] Data released by the Conference Board showed that its consumer confidence index fell 5.4 points to 93 in June, lower than the expected range of all economists in foreign media surveys.

5. [UK Industrial Orders] The difference in UK CBI industrial orders in June fell from -30 in May to -33. The contraction in UK manufacturing orders this month was the largest since January, and sales price expectations cooled.

6. [Canadian CPI] Data released by Statistics Canada on Tuesday showed that CPI in May rose 1.7% year-on-year.

Energy

1. [Crude Oil] On June 24, international crude oil futures plummeted, hitting a two-week low. The settlement price of the August contract of US WTI crude oil futures was US$64.37 per barrel, a drop of US$4.14 or 6.0%. The settlement price of the August contract of Brent crude oil futures was US$67.14 per barrel, a drop of US$4.34 or 6.1%. The expected ceasefire agreement between Israel and Iran has reduced the risk of oil supply disruption in the Middle East.

2. [Natural Gas] The oil and gas production capacity of Bohai's first 100 billion cubic meter gas field, the Bohai 19-6 condensate gas field, has risen again, with daily oil and gas equivalent reaching a new high since its commissioning, exceeding 5,600 tons of oil and gas equivalent. This year's natural gas production has exceeded 400 million cubic meters, reaching nearly 70% of the annual production in 2024.

3. [Fuel Oil] On June 24, the self-collection low-sulfur price of fuel oil 180cst in Qingdao, China Gas, was 5,850 RMB/ton, an increase of 50 RMB/ton from the previous trading day.

4. [Coking Coal] On June 24, the online auction price of coking coal in Changzhi QinRMB market fell slightly. Low-sulfur lean coking coal A8, S0.5, and G65 started at 1,100 RMB/ton, with an average transaction price of 1,123 RMB/ton and a transaction volume of 35,000 tons, down 17 RMB/ton from the previous 17th. The above is the ex-factory price in cash including tax.

5. [Petroleum coke] On June 24, Kenli Petrochemical's petroleum coke quoted 3,150 RMB/ton, up 150 RMB/ton from the previous trading day, with a sulfur content of about 1.1%. The delayed coking unit has an annual capacity of 800,000 tons and a daily output of 550 tons. The company's shipments are normal.

Chemical industry

1. [Chemical industry] With the approval of the State Council, the Ministry of Public Security, the Ministry of Commerce, the Ministry of Health and Family Planning, the Ministry of Emergency Management, the General Administration of Customs, and the State Food and Drug Administration jointly issued an announcement to include 4-piperidone and 1-tert-butyloxycarbonyl-4-piperidone in the "Regulations on the Management of Precursor Chemicals" and the "Classification and Variety Catalog of Precursor Chemicals" for control, which will take effect on July 20, 2025.

2. [Battery] Guangzhou Rongjie Materials Nansha's 50,000-ton annual high-end lithium-ion battery negative electrode material project is scheduled to start full-line trial production in August.

3. [Lithium carbonate] Zangge Mining's subsidiary company's investment in lithium boron mining project has been approved, with a total investment of approximately RMB 4.5 billion, and an estimated annual production of 50,000 tons of battery-grade lithium carbonate.

4. [Lithium hydroxide] Gradiant announced that it will build the world's first fully integrated oilfield produced water lithium production plant, with a lithium recovery rate of at least 95%.

5. [Hydrofluoric acid] Jiangxi Changxinrui Pharmaceutical Co., Ltd.'s fluorine chemical new materials recently moved and upgraded its project announcement, mentioning the purification of hydrofluoric acid, a byproduct of the first phase project; reaching an annual production capacity of 6,000 tons of 45% hydrofluoric acid.

6. [Benzene] The China Securities Regulatory Commission recently announced that the China Securities Regulatory Commission recently agreed to the registration of benzene futures and options on the Dalian Commodity Exchange.

7. [BDO] According to the current operation of the production capacity units, the 380,000-ton BDO unit of DongRMB Technology-Dongjing Biotechnology will start annual maintenance on May 21, and plans to restart the second phase 280,000-ton/year production capacity unit around June 26.

8. [PMMA] On June 24, the 20,000-ton/year PMMA unit of Heilongjiang Longxin was shut down, and the restart time is to be determined. It is necessary to continue to pay attention to the dynamics of the unit.

9. [Methanol] On June 24, the price of methanol in Inner Mongolia Xinao was reduced by 35 RMB/ton to 1,980 RMB/ton for factory cash withdrawal. The first phase 600,000-ton/year unit + the second phase 600,000-ton/year methanol unit of the plant are operating normally. The first phase unit is scheduled to start maintenance on July 15, which is expected to take about 20 days.

10. [Isopropanol] On June 24, the 50,000-ton/year acetone hydrogenation unit of Zhejiang Xinhua Isopropanol was shut down, and its 50,000-ton/year propylene unit was restarted and operating normally.

Ningbo Juhua's 50,000 tons/year acetone-based isopropanol unit was shut down on June 24 and is expected to be overhauled for half a month.

11. [Ethylene glycol] According to market news, a 550,000-ton unit in Iran that was shut down for maintenance in mid-June was restarted recently, and the restart time is to be determined; other ethylene glycol units in Iran will also be restarted in the near future.

A 750,000-ton unit in Malaysia that was shut down for maintenance in December 2024 was restarted recently.

12. [Diethylene glycol] On June 23, the total shipment volume of the two warehouses in Zhangjiagang was 829 tons, a decrease of 472 tons from the average daily shipment on weekends. As of now, the inventory of the two warehouses is 35,100 tons.

13. [Liquid ammonia] On June 24, Shandong Hualu Hengsheng's 600,000-ton liquid ammonia unit was operating normally, and the quotation was raised by 20 RMB to 2,350 RMB/ton. The manufacturer currently exports part of the liquid ammonia, with a daily sales volume of 1,000 tons.

14. [Butadiene] The bidding situation of some domestic butadiene enterprises on June 24: Fushun Petrochemical has no export and suspended quotation; Dongming Petrochemical has 336 tons of export, with a base price of 9,200 RMB/ton. Satellite Chemical has a small amount of export, and the price is reduced by 300 RMB/ton to 9,100 RMB/ton.

15. [Urea] According to statistics, from January to May 2025, the cumulative export of domestic urea was 11,200 tons, a year-on-year decrease of 82.9%; the cumulative export of ammonium sulfate was 6.98 million tons, a year-on-year increase of 31.7%; the cumulative export of diammonium phosphate was 92,500 tons, a year-on-year decrease of 91%; the cumulative export of monoammonium phosphate was 91,600 tons, a year-on-year decrease of 85.1%.

16. [Potassium chloride] In May 2025, China imported 1.11 million tons of various fertilizers. Among them, potassium chloride and nitrogen-phosphorus-potassium triple compound fertilizer imported 970,000 tons and 130,000 tons respectively. From January to May, the cumulative import of potassium chloride was 5.63 million tons, a year-on-year increase of 0.6%; the cumulative import of nitrogen, phosphorus and potassium ternary compound fertilizer was 450,000 tons, a year-on-year decrease of 14%.

Rubber and plastic

1. [Natural rubber] Hainan Rubber announced after the market on June 24 that due to the impact of Typhoon "Butterfly", the annual dry rubber production is expected to decrease by about 2,600 tons.

2. [ABS] The bulk ABS production line invested and built by Yike Chemical has a total production capacity of 450,000 tons/year. The commissioning of the first phase of the device (225,000 tons/year) has been postponed to mid-July.

Liaoning Jinfa ABS device has a total production capacity of 600,000 tons/year. The entire line was shut down for maintenance in the early stage and is expected to resume at the end of June.

The first phase of Yulong Petrochemical ABS has a total production capacity of 600,000 tons/year. It was put into production on April 22, and the current load is more than 50%. The second phase of the device is expected to be put into production by the end of the year.

3. [EPS] On June 24, Shandong Lanhua EPS price was lowered, the price of ordinary materials was 8,900 RMB/ton, and the price of flame retardant materials was 9,100 RMB/ton, which was 200 RMB/ton lower than the previous day. Shandong Lanhua's effective production capacity is 120,000 tons/year.

4. [PE] According to statistics, my country's total PE imports in May 2025 will be 1.0682 million tons, and the total PE exports in May will be 105,100 tons.

Textile

1. [Acrylonitrile] On June 25, it was reported that the 400,000-ton acrylonitrile unit of Zhenhai Refining and Chemical has been put into production, and is currently operating at about 60%, and the product will be released soon.

2. [Polyester staple fiber] On June 24, the price of polyester staple fiber in Jiangsu Sanfangxiang was temporarily stable, among which the semi-bright direct-spun 1.4D*38mm polyester staple fiber was quoted at 7,150 RMB/ton, which was the same as the price on the previous trading day.

3. [Lint Cotton] As of June 23, 2025, the total cotton inventory in Zhangjiagang Free Trade Zone was 40,100 tons, a year-on-year decrease of 0.21%; of which bonded cotton was 3.72 tons, a year-on-year decrease of 0.16%; non-bonded cotton was 2,900 tons, a year-on-year decrease of 0.63%.

4. [Lint Cotton] The agricultural product export data of the Brazilian Ministry of Commerce showed that in the third week of June 2025, a total of 14 working days, a total of 100,000 tons of unprocessed cotton were shipped out, compared with 160,400 tons in June last year. The average daily shipping volume was 7,100 tons/day, a decrease of 10.98% from 8,000 tons/day in June last year.

5. [Lint Cotton] According to the monthly report released by the Brazilian Cotton Growers Association, as of the end of May 2025, Brazil's cumulative cotton exports in 2024/25 were 2.57 million tons, a year-on-year increase of 9.4%, a record high.

6. [Yarn, cloth] Statistics Bureau data show that in May 2025, the national yarn output was 1.951 million tons, up 3% year-on-year; chemical fiber output was 734.9 tons, up 5.20% year-on-year; cloth output was 2.67 billion meters, down 3.3% year-on-year.

7. [Dissolving pulp] Customs data show that China's imports of dissolving pulp in May 2025 were 387,300 tons, up 14.63% month-on-month and 18.37% year-on-year; China's cumulative imports of dissolving pulp from January to May were 1.7798 million tons, up 7.35% year-on-year.

8. [Dissolving pulp] Chilean Customs announced that Chile's dissolving pulp (main raw material of viscose staple fiber) exports to China in May 2025 were 22,600 tons, up 30.78% month-on-month and down 10.32% year-on-year.

9. [Dissolving pulp] Brazilian customs announced that the export data of Brazilian dissolving pulp (main raw material of viscose staple fiber) to China in May 2025 was 114,000 tons, a decrease of 9.14% from the previous month and an increase of 49.17% from the previous year.

Steel

1. [Iron ore] On June 24, the national main port iron ore transaction volume was 813,000 tons, a decrease of 31.2% from the previous month; 237 mainstream traders traded 93,200 tons of construction steel, a decrease of 9.5% from the previous month.

2. [Galvanized sheet] On June 24, 154 national galvanized enterprises traded a total of 15,439 tons, a decrease of 1,547 tons from the previous trading day, a decrease of 9.11%. The region with the largest decrease was East China, which decreased by 1,030 tons from the previous trading day, a decrease of 17.83%.

3. [Bill] As of June 20, the sample steel mills had 1.795 million tons of billet orders. Among them, domestic trade orders were 512,000 tons, accounting for 29%, and direct export orders were 1.283 million tons, accounting for 71%. Most of the order prices were between 2,880 and 2,980 RMB/ton.

4. [Seamless pipes] In May, my country imported 7,800 tons of seamless pipes, a month-on-month increase of 11.43% and a year-on-year decrease of 17.89%; exports were 551,400 tons, a month-on-month increase of 11.6% and a year-on-year increase of 28.17%. From January to May, my country's cumulative imports of seamless pipes were 38,700 tons, a year-on-year decrease of 22.44%; exports of seamless pipes were 2.4606 million tons, a year-on-year increase of 13.65%. In May, my country's net exports of seamless pipes were 543,600 tons, a month-on-month increase of 11.6% and a year-on-year increase of 28.94%. From January to May, my country's cumulative net exports of seamless pipes were 2.4219 million tons, a year-on-year increase of 14.51%.

5. [Crude steel] World Steel Association: Global crude steel production fell 3.8% year-on-year to 158.8 million tons in May. China's crude steel output fell 6.9% year-on-year to 86 million tons in May.

Nonferrous metals

1. [Copper] Shanghai Futures Exchange: On June 24, copper stocks in Shanghai totaled 14,937 tons, down 2,853 tons from the previous day; copper stocks in Guangdong totaled 4,064 tons, unchanged from the previous day; copper stocks in Jiangsu totaled 3,424 tons, down 250 tons from the previous day; copper stocks in Zhejiang totaled 0 tons, unchanged from the previous day. A total of 22,425 tons, down 3,103 tons from the previous day.

2. [Copper] On June 24, the London Metal Exchange (LME) nonferrous metal stocks and changes were as follows: copper stocks were 94,675 tons, down 1,200 tons from the previous day. Aluminum stocks were 339,900 tons, down 175 tons from the previous trading day. Nickel stocks were 203,928 tons, down 216 tons from the previous day. Zinc inventory is 123,450 tons, down 2,450 tons from the previous day. Lead inventory is 277,375 tons, down 3,650 tons from the previous day. Tin inventory is 2,180 tons, up 35 tons from the previous day.

Building materials

1. [Paper] Recently, the TM2 paper machine of Guangxi Qingyun Paper Co., Ltd. was successfully started and produced paper. The paper machine is a crescent-shaped paper machine provided by Xi'an Via, with a width of 3,600mm, a designed speed of 1,500m/min, and an annual production capacity of about 15,000 tons/year.

2. [Pulp] It is reported that the installation of the first phase of the chemical pulp project of Guangxi Jianhui Paper has entered the countdown of 100 days.

3. [Wood pulp] Recently, the Shanghai Futures Exchange announced that in order to maintain the smooth operation of the bleached sulphate softwood pulp futures market, it has been decided that from the date of this announcement, the delivery of bleached sulphate softwood pulp futures brand "Bratsk" will be suspended from storage, and bleached sulphate softwood pulp factory warehouses shall no longer deliver "Bratsk" brand delivery products.

4. [Glass] On June 24, Zhangzhou Qibin Glass Co., Ltd., with a designed capacity of 800 tons on the eighth line, introduced the board on the same day.

5. [Asphalt] As of the week of June 23, the total inventory of 104 domestic asphalt warehouses was 1.836 million tons, a decrease of 1.0% from the previous month. During the statistical period, the overall domestic social inventory was reduced.

Agricultural and sideline products

1. [Sugar] On June 24, the spot market quotation of Guangxi sugar-making enterprises was 5990-6020 RMB/ton, a slight decrease of 10 RMB/ton from the quotation on the 23rd; as of the end of May, Guangxi had sold a total of 4.6453 million tons of sugar, with a production and sales rate of 71.85%.

2. [Soybean] National Grain and Oil Information Center: The operating rate of major oil mills in China was at a historical high in June, and it is expected that the operating rate will continue at a high level in July. The soybean crushing volume is about 9 million tons, and the soybean meal output is more than 7 million tons, which is higher than the annual average monthly consumption of 6.5 million tons. Considering the recent strong soybean meal consumption and other factors, it is expected that the commercial inventory of soybean meal in major oil mills in China will rise to more than 800,000 tons in July.

3. [Soybean meal] As of the week of June 12, 2025, the net sales of US soybean meal in 2024/25 were 160,300 tons, a decrease of 25% from the previous week and a decrease of 49% from the four-week average.

4. [Soybean meal] The latest data from the European Commission shows that as of June 22, the EU's soybean meal imports in 2024/25 were 18.9 million tons, a year-on-year increase of 27%.

5. [Palm oil] Data from the South Malaysian Palm Oil Association shows that from June 1 to 20, 2025, South Malaysia's palm oil production increased by 2.5% month-on-month.

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