Macroeconomics

1. [Industrial Value Added] National Bureau of Statistics: In August, the value added of industrial enterprises above designated size increased by 5.2% year-on-year in real terms. Month-on-month, the value added of industrial enterprises above designated size increased by 0.37% in August compared to the previous month. From January to August, the value added of industrial enterprises above designated size increased by 6.2% year-on-year.

2. [Power Generation] National Bureau of Statistics: In August, industrial power generation above designated size reached 936.3 billion kWh, a year-on-year increase of 1.6%. The average daily power generation exceeded 30 billion kWh for the first time, reaching 30.2 billion kWh. From January to August, industrial power generation above designated size reached 641.93 billion kWh, a year-on-year increase of 1.5%. Excluding the number of days affected, the average daily power generation increased by 1.9% year-on-year.

3. [US-Japan Tariffs] The Trump administration announced that the import tariff on Japanese cars will be reduced to 15% starting at 00:01 Eastern Time on the 16th (13:01 Japan Time on the 16th).

4. [New York Fed Manufacturing Index] The New York Fed Manufacturing Index fell sharply by 21 points to -8.7 in September, far below market expectations of 5. Both new orders and shipment indicators fell to their lowest levels since April 2024.

5. [European Central Bank] ECB Executive Board member Schnabel said the ECB should maintain current interest rates, as price risks remain tilted to the upside. People familiar with the matter said that unless the eurozone suffers another major shock, interest rates are expected to remain at current levels for some time.

Rubber and Plastics

1. [PA6] Guangxi Hengyi New Materials Co., Ltd. recently made significant progress in its 33,000 Nm³/h air separation plant Phase II project, with equipment installation officially entering the core construction phase. The project, with a total investment of approximately 22 billion RMB, will produce 1.2 million tons of polyamide chips annually upon commissioning.

2. [ABS] Yulong Petrochemical's Phase I ABS unit has a total capacity of 600,000 tons/year and is currently operating at over 80% capacity. Phase II is expected to begin production by the end of the year.

3. [SBR] On September 15th, styrene-butadiene rubber market quotes in East China fell by around 50 RMB/ton. Currently, the mainstream prices for styrene-butadiene 1502 at Fushun, Jilin Petrochemical, Qilu, Weitai, Yibang, and Lanzhou Petrochemical are between 12,150 and 12,300 RMB/ton.

4. [BR] On September 15th, the cis-butadiene rubber market in East China weakened and consolidated, with some suppliers slightly reducing their quotes by 50 RMB/ton. At present, the mainstream prices of Daqing, Yangzi and Qilu Shunde are 11,800-12,150 RMB/ton; some private brands are priced around 11,700-11,850 RMB/ton.

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