Macroeconomics

1. Fed Rate Cut: Early Thursday morning Beijing time, the Federal Reserve announced a 25 basis point rate cut as expected, lowering the target range for the federal funds rate to 3.50%-3.75%. This is the Fed's third rate cut this year in 2025, bringing the total cuts to 75 basis points.

2. UAE ​​Rate Cut: The Central Bank of the United Arab Emirates announced a 25 basis point cut to its benchmark interest rate, bringing it to 3.65%.

3. Canadian Interest Rates: On Wednesday, at its final monetary policy meeting of 2025, the Bank of Canada maintained its benchmark interest rate at 2.25%, as expected.

4. Brazilian Interest Rates: The Central Bank of Brazil's Monetary Policy Committee decided on the evening of December 10th to maintain the country's benchmark interest rate at 15% per annum, in line with previous market expectations.

Building Materials

1. [Glass] As of early December, there were 24 float glass production lines that had not resumed production after cold repairs this year, with a total capacity of 12,260 tons. 14 lines had resumed production or were newly ignited, with a total capacity of 10,950 tons.

2. [Kraft Paper] Jiulong Paper's Dongguan base plans to shut down its PM1 paper machine from December 31, 2025, until full completion.

Jiulong Paper's Quanzhou base will shut down its PM36 machine for maintenance from January 18 to February 1, a total of 15 days, affecting kraft paper production.

Jiulong Paper's Beihai base will shut down its PM48 machine for maintenance from January 20 to January 30, a total of 11 days, affecting kraft paper production.

Guangdong Lee & Man Paper Manufacturing Co., Ltd. will be shut down for the following periods during the Spring Festival: February 2nd-23rd, machines operating at PM11, PM12, and PM15 will be shut down for 22 days; February 9th-23rd, machines operating at PM9 will be shut down for 15 days; and February 7th-23rd, machines operating at PM17 will be shut down for 17 days. This affects kraft paper, paper cores, and dusty cardboard.

3. [Paper] Dongguan Jintian Paper Industry Co., Ltd. will uniformly increase the price of its Jinbo brand recycled kraft paper and Jinbo brand high-strength corrugated paper by 50 RMB/ton starting December 10th.

Jiulong Paper Industry Co., Ltd.: Starting December 18th, the price of recycled kraft paper and corrugated paper at its Quanzhou base will be increased by 50 RMB/ton; starting December 22nd, the price of its Dilong and Jianglong kraft paper at its Quanzhou base will be increased by 50 RMB/ton.

Starting December 18th, the prices of Dilong premium V kraft paper and Hailong premium V kraft paper at the Beihai base will increase by 50 RMB/ton.

Starting December 18th, the prices of recycled kraft paper and corrugated paper at the Chongqing base will increase by 50 RMB/ton; starting December 22nd, the price of kraft paper (excluding recycled kraft paper) will increase by 50 RMB/ton.

Starting December 18th, the prices of Jiulong kraft paper (including special grade), Hailong premium V kraft paper, Hailong premium kraft paper, Hailong 300g kraft paper, Dilong premium V kraft paper, Dilong kraft paper, recycled kraft paper, and corrugated paper at the Dongguan base will increase by 50 RMB/ton.

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