Macroeconomics

1. [Logistics Industry Business Climate Index] According to the China Federation of Logistics and Purchasing, China's logistics industry business climate index was 50.9% in August, up 0.4 percentage points from the previous month. The total business volume index remained in the expansionary range for six consecutive months, and the new orders index remained in the expansionary range for seven consecutive months.

2. [US ISM Manufacturing Index] The US ISM manufacturing index rose slightly to 48.7 in August from 48 in July, below the market expectation of 49, and remained below the boom-bust line for six consecutive months. The new orders index rose to 51.4, the first expansion since the beginning of the year. However, the output index fell 3.6 points to 47.8, falling back into contractionary territory.

3. [Eurozone CPI] The eurozone CPI rose 2.1% year-on-year in August, compared with expectations of a flat 2%. The core CPI fell slightly to 2.3% year-on-year, in line with market expectations. The closely watched service price increase slowed to 3.1%.

4. [ECB] Hawkish ECB Executive Board member Schnabel said the ECB should pause interest rate cuts as inflation risks are tilted to the upside.

5. [Bank of Japan] Bank of Japan Deputy Governor Yoshizo Himino stated that, given the improving economic and price trends, continuing to raise interest rates is an appropriate policy option. He emphasized that despite the Bank of Japan's three interest rate hikes, Japan's real interest rates remain significantly low due to persistent inflation, and there is still room for monetary policy normalization.

6. [South Korea CPI] South Korea's CPI rose 1.7% year-on-year in August, narrowing by 0.4 percentage points from the previous month and reaching its lowest level since November of last year.

Rubber and plastics

1. [PP] Anqing Petrochemical's 300,000 tons/year PP production unit was temporarily shut down due to a malfunction at the end of August and is expected to resume operation on September 5.

2. [EPS] On September 2, Heze Yuhuang's EPS quotes were lowered: standard material was quoted at 7,950 RMB/ton, ex-factory, including tax, and flame retardant material was quoted at 8,150 RMB/ton, ex-factory, including tax, a decrease of 50 RMB/ton from the previous day. Prices are subject to negotiation.

3. [Natural Rubber] On September 2, the market price of natural rubber raw materials in Thailand was stable with slight increases: tobacco sheets were quoted at 62.00 baht/kg, stable; glue was quoted at 55.60 baht/kg, up 0.15 baht/kg; and cup rubber was quoted at 54.00 baht/kg, up 0.25 baht/kg.

4. [Natural Rubber] ANRPC's latest report predicts that global natural rubber production in July is expected to decline slightly by 0.1% to 1.328 million tons, a 7.9% increase from the previous month; natural rubber consumption is expected to fall by 4.1% to 1.246 million tons, a 0.3% decrease from the previous month. For the first seven months, global natural rubber production is expected to increase by 0.1% to 7.477 million tons, while cumulative consumption is expected to decrease by 0.6% to 8.888 million tons.

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