Macroeconomics

1. [GDP] National Bureau of Statistics: Preliminary calculations show that GDP in the first three quarters reached 101,503.6 billion yuan, a year-on-year increase of 5.2% at constant prices. By industry, the added value of the primary industry reached 5,806.1 billion yuan, a year-on-year increase of 3.8%; the added value of the secondary industry reached 36,402.0 billion yuan, a year-on-year increase of 4.9%; and the added value of the tertiary industry reached 59,295.5 billion yuan, a year-on-year increase of 5.4%. By quarter, GDP grew by 5.4% year-on-year in the first quarter, 5.2% in the second quarter, and 4.8% in the third quarter. Quarter-on-quarter, GDP grew by 1.1% in the third quarter.

2. [Industrial Capacity Utilization] National Bureau of Statistics: In the third quarter of 2025, the national capacity utilization rate of industrial enterprises above designated size was 74.6%, up 0.6 percentage points from the second quarter and down 0.5 percentage points from the same period last year. Looking at the three major sectors, by the third quarter of 2025, the mining industry's capacity utilization rate is projected to be 72.5%; the manufacturing industry's capacity utilization rate is 74.8%; and the electricity, heat, gas, and water production and supply industry's capacity utilization rate is 74.3%.

3. [US-Australia Agreement] US President Trump and Australian Prime Minister Anthony Albanese signed an agreement on rare earth and critical minerals at the White House on Monday. As part of the agreement, both sides agreed to reduce approval processes for mining, processing facilities, and related operations to increase production of rare earth and critical minerals. The White House statement stated that the US and Australian governments plan to jointly invest over $3 billion in critical mineral projects over the next six months, with an estimated recoverable resource value of $53 billion.

Rubber and Plastics

1. [PA6] On October 18, the topping-out ceremony for Hengshen New Materials' high-performance polyamide differentiated fiber intelligent manufacturing project was held. As a provincial key project, the project will construct a production line for differentiated nylon 6 filament with an annual output of 80,000 tons and a production line for differentiated nylon 6, filament with an annual output of 20,000 tons.

2. [PA66] Recently, China Pingmei Shenma Group Nylon Technology Co., Ltd. announced the successful completion of a key milestone in the project's salt formation process in the adipic acid plant. The salt formation product has officially produced qualified products, marking the successful completion of a key milestone and injecting new momentum into the optimization and upgrading of the group's nylon 6, 6 industry chain and the development of China Nylon City.

3. [PP] On October 20, the Dalian Commodity Exchange issued a notice regarding the listing and trading of monthly average price futures for linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), and polypropylene (PP). The three monthly average price futures will be listed for trading starting at 21:00 on October 28 (Tuesday).

4. [PE] On October 20th, Haiguo Longyou's PE unit reported that the 400,000-ton full-density unit was shut down for maintenance.

5. [NBR] Zhenjiang Nandi's 50,000-ton/year nitrile rubber unit is currently operating normally and is scheduled to be shut down for maintenance in late October.

6. [EVA] On October 20th, BASF-YPC adjusted the ex-factory price of EVA for this week: V5110J price to 10,900 RMB/ton, a decrease of 100 RMB/ton; V6110M price to 10,900 RMB/ton, a decrease of 200 RMB/ton; V6110MC price to 10,950 RMB/ton, a decrease of 200 RMB/ton; and V4110J price to 11,000 RMB/ton, a decrease of 200 RMB/ton.

7. [PVC] In September 2025, my country's PVC imports were 14,400 tons, with an average import price of US$736 per ton. The cumulative import volume from January to September was 175,500 tons. Imports in September increased by 16.08% month-on-month and 7.73% year-on-year. The cumulative year-on-year growth rate from January to September was 0.76%.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.