Macro

1. [Trade and Investment Barrier Investigation] The Ministry of Commerce has decided to initiate a trade and investment barrier investigation into Mexico's restrictive measures against China, effective September 25, 2025. The measures under investigation are the Mexican government's proposed increase in import tariffs on products from China and other non-free trade partners. Other trade and investment restrictive measures taken by Mexico in recent years involving China are also covered by this investigation.

2. [US Tariffs] Trump announced that, effective October 1, the United States will impose a new round of high tariffs on a variety of imported products. These measures include a 50% tariff on kitchen cabinets, bathroom vanities, and related building materials, a 30% tariff on imported furniture, and a 100% tariff on patented and branded pharmaceuticals.

3. [US Initial Jobless Claims] The number of initial jobless claims in the United States fell by 14,000 to 218,000 last week, the lowest level since mid-July and well below market expectations of 235,000.

4. [Swiss Interest Rate] The Swiss National Bank maintained its interest rate at 0%, the first time since the start of its rate-cutting cycle in March 2024, in line with market expectations.

5. [Automobiles] According to the latest data released by the European Automobile Manufacturers' Association (ACEA), EU passenger car sales increased by 5.3% to 677,786 units in August 2025. However, cumulative sales in the first eight months decreased by 0.1% year-on-year.

Rubber and Plastics

1. [EVA] Recently, Levitra New Materials stated that its photovoltaic-related products primarily include EVA and POE photovoltaic film materials. Its EVA plant currently has an annual production capacity exceeding 150,000 tons. A new 200,000-ton/year plant is scheduled to begin production by the end of 2025, and a 100,000-ton/year POE plant is scheduled to be completed and delivered by the end of 2025.

2. [PA66] INVISTA (China) Investment Co., Ltd. recently announced that, effective at 7:00 AM on October 1, 2025, the spot trading price for nylon 66 polymer, model PA66 U4800 NC01 SS (750 kg package), will be RMB 15,800/ton. This price includes VAT and applies only to contract orders for U4800 exceeding a certain quantity purchased from INVISTA's Yinglong plant under FCA terms. INVISTA reserves the right to adjust this spot trading price and will determine the final transaction price based on actual supply and demand conditions and other factors.

3. [ABS] In August 2025, my country's total exports of primary-form ABS reached 35,300 tons, a 0.66% increase from the previous month (35,000 tons in July). Total imports reached 69,400 tons, a -5.46% decrease from the previous month (73,400 tons in July).

4. [PC] In August 2025, my country's total exports of primary-form polycarbonate reached 52,400 tons, a -14.35% decrease from the previous month (61,200 tons in July). Total imports reached 65,600 tons, a -4.34% decrease from the previous month (68,600 tons in July).

5. [PP] In August 2025, my country's total exports of polypropylene reached 276,000 tons, a 4.7% increase from the previous month. The top three exporters were Vietnam (51,600 tons), Bangladesh (22,800 tons), and India (17,900 tons). Total imports reached 247,000 tons, a 12.5% ​​decrease from the previous month. The top three importers were South Korea (50,400 tons), the UAE (38,800 tons), and Singapore (34,800 tons). Net exports for the month were approximately 29,000 tons, returning to a net export pattern.

6. [HDPE] In August 2025, domestic HDPE imports reached 402,500 tons, a decrease of -13.64% month-over-month and -25.96% year-over-year; HDPE exports reached 45,200 tons, a decrease of 13.38% month-over-month and 19.67% year-over-year. From January to August 2025, domestic HDPE imports reached 3,624,000 tons, a decrease of -4.57% year-over-year; exports reached 346,200 tons, a increase of 22.23% year-over-year.

7. [LDPE] In August 2025, domestic LDPE imports reached 200,800 tons, a decrease of -21.72% month-over-month and -14.01% year-over-year; LDPE exports reached 30,300 tons, a decrease of 21.80% month-over-month and 33.32% year-over-year. From January to August 2025, domestic LDPE imports reached 2.1154 million tons, a year-on-year increase of 13.35%, while exports reached 189,200 tons, a year-on-year increase of 10.45%.

8. [LLDPE] From August 2025, domestic LLDPE imports reached 346,900 tons, a month-on-month decrease of -9.78% and a year-on-year decrease of -21.67%. Exports reached 40,500 tons, a month-on-month increase of 9.76% and a year-on-year increase of 261.94%. From January to August 2025, domestic LLDPE imports reached 3.2421 million tons, a year-on-year decrease of -0.82%, while exports reached 194,300 tons, a year-on-year increase of 57.26%.

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