Macro

1. Industrial enterprise profits: National Bureau of Statistics: From January to July, industrial enterprises above designated size in China achieved a total profit of 40203.5 billion RMB, a year-on-year decrease of 1.7%. Among them, the mining industry achieved a total profit of 493.09 billion RMB, a year-on-year decrease of 31.6%; The manufacturing industry achieved a total profit of 3,023.58 billion RMB, an increase of 4.8%; The total profit of the electricity, heat, gas, and water production and supply industries reached 503.68 billion RMB, an increase of 3.9%.

2. Total logistics volume: The China Federation of Logistics and Purchasing has revealed that by 2025, the total logistics volume of the whole society is expected to reach 380 trillion RMB, with an increase of about 80 trillion RMB in five years. The total revenue scale of China's logistics industry continues to expand, with a growth of about 4 trillion RMB over the past five years. It is expected to exceed 14 trillion RMB by 2025, and the market size is expected to rank first in the world for 10 consecutive years.

3. US tariffs: Trump claims that trade agreements between the US and the EU, Japan, and South Korea have been completed. Trump also stated that he will soon impose "very high" tariffs on imported furniture, which will be implemented "soon". Hope to revitalize the furniture manufacturing industry in North Carolina and South Carolina. He hinted at the possibility of imposing tariffs as high as 200%, stating that tariffs of 100% or 200% would prevent other countries from dominating the furniture industry.

4. US Consumer Confidence Index: The US Consumer Confidence Index fell 1.3 points to 97.4 in August. Among them, the consumer evaluation index of current business and employment market conditions decreased by 1.6 points to 131.2.

5. Durable goods orders in the United States: Durable goods orders in July decreased by 2.8% compared to the initial value, with an expected decrease of 3.8% and a previous decrease of 9.4%.

Building materials

1. Paper: On August 25th, Shouguang Chenming Sixth Factory successfully started production after upgrading and renovation, and is currently producing ultra-high pine cultural paper. It is reported that in addition to white cardstock, other pulp and paper production lines in Shouguang Chenming will resume production in the near future.

2. Corrugated paper: Zhejiang Jinlong Renewable Resources Technology Co., Ltd./Zhejiang Jinli Environmental Protection Paper Co., Ltd. will increase the sales price of recycled kraft/high-strength corrugated paper by 50 RMB/ton from August 27, 2025, based on the current sales price.

Chongqing Jiulong Paper Industry has issued another price increase letter, announcing a 50 RMB/ton price increase for all kraft paper, recycled paper, and corrugated paper starting from August 26th.

Starting from August 26th, the Taicang Jiulong Plan will increase the prices of Longlong cattle cards, recycled series cattle cards, and corrugated paper by 50 RMB/ton at the Taicang base.

Starting from August 26th, Sichuan Litian Paper Industry Co., Ltd. will increase the weight of high-strength corrugated paper (Litian, Lisheng) by 50 RMB/ton on the existing price basis.

Starting from August 26th, Sichuan Jintian Paper Industry Co., Ltd. has uniformly increased the price of all high-strength corrugated paper by 50 RMB/ton on the basis of the original price.

Starting from August 25th, Jiangsu Jintian Paper Industry Co., Ltd. has uniformly increased the price of Jinbo brand high-strength corrugated paper and Jinbo brand environmentally friendly kraft paper by 50 RMB/ton on the basis of the original price.

Starting from August 25th, Shanying Paper Sales Co., Ltd. will increase the prices of T-paper by 50-70 RMB/ton and tile paper by 50 RMB/ton in the Central China base, based on the original prices; Starting from August 27th, on the basis of the original price: Fujian base: Redwood series and tile paper series will increase by 50 RMB/ton; Guangdong Base: Redwood, T-paper, and tile paper will increase by 30 RMB/ton; Jilin base: tile paper price increased by 50 RMB/ton.

3. Wastepaper: On August 26th, Henli Paper Industry in Xinxiang, Henan Province raised the purchase price of wastepaper by 20 RMB/ton, and the adjusted general ticket price upon arrival at the factory was 1,680 RMB/ton.

Zhejiang Pinghu Rongcheng Paper Industry has raised the purchase price of waste paper by 20 RMB/ton, and the adjusted price without tickets to the factory is 1,610 RMB/ton.

4. Glass: In July 2025, China's glass production was 4.4375 million tons, a year-on-year decrease of 15.87% from 5.2748 million tons, and an increase of 1.46% from 4.3735 million tons. From January to July 2025, China's cumulative float glass production was 30.8438 million tons, a year-on-year decrease of 592.22 tons, with a magnitude of -16.11%.

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