Macroeconomics

1. [Federal Reserve] Federal Reserve Chairman Bostic believes there is little reason for further interest rate cuts and predicts only one rate cut in 2025.

2. [Turkey-US Tariffs] Turkey announced it would end the additional tariffs imposed on some US imports since 2018, including passenger cars and fruit. These tariffs were in retaliation for US tariffs imposed on Turkey during Trump's first term.

3. [Eurozone Consumer Confidence Index] The preliminary Eurozone consumer confidence index for September was -14.9, compared to an expected -15.0 and a previous reading of -15.5.

Energy

Building Materials

1. [Glass] Fujian Longtai Longyan Line (designed capacity 700 tons/day), originally produced in Ford Blue, switched to clear glass on September 18th.

2. [Asphalt] On September 23rd, Dongming 70#A asphalt, with a tentative starting price of 3,510 RMB, will be auctioned at 10:30 a.m. (settlement will be based on the actual bid price). A 3 million tons/year atmospheric and vacuum unit was shut down for maintenance, with a daily output of approximately 3,000-4,000 tons. Shipments are currently normal.

3. [Wastepaper] On September 22nd, Jiangsu Taicang Nine Dragons Paper's purchase price for Grade A containerboard remained stable. There was no adjustment to the purchase price for waste paper, with the ex-factory price being 1,740 RMB/ton.

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