Macroeconomics

1. [Small and Medium Enterprise Development Index] According to the China Association of Small and Medium Enterprises, China's Small and Medium Enterprise Development Index (SMEDI) was 89.1 in August, up 0.1 point from the previous month and higher than the same period last year.

2. [E-commerce Logistics Index] The China Federation of Logistics and Purchasing announced that China's e-commerce logistics index was 112.3 points in August, up 0.3 point from the previous month, continuing to hit a new high for the year. The e-commerce logistics index has risen for six consecutive months.

3. [US PPI] Data released by the US Bureau of Labor Statistics showed that the US PPI fell 0.1% month-on-month in August, the first negative result in four months, contrary to expectations of a 0.3% increase. It also rose 2.6% year-on-year, contrary to expectations of a flat 3.3%.

4. [Swiss National Bank] Swiss National Bank President Schlegel stated that the central bank would not shy away from lowering borrowing costs below zero if necessary. With only two weeks left before the quarterly interest rate decision, Schlegel emphasized that he and his colleagues are ready.

Building Materials

1. [Asphalt] Latest data shows that as of the week of September 10, the capacity utilization rate of China's 92 asphalt refineries was 36.4%, a 5.9% increase from the previous week. Weekly asphalt production reached 608,000 tons, a 19.4% increase from the previous week. During the same period, a sample of 54 domestic asphalt manufacturers shipped a total of 397,000 tons, a 3.6% decrease from the previous week.

2. [Wood Pulp] Metsä Fibre, a subsidiary of the Metsä Group, announced that its änekoski bioproducts mill will undergo annual maintenance from weeks 37 to 39. Production will cease on September 12, 2025.

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