Macroeconomics

1. [Bulk Solid Waste] The State Council issued the "Comprehensive Solid Waste Management Action Plan," proposing that by 2030, the annual comprehensive utilization of bulk solid waste will reach 4.5 billion tons, and the annual recycling volume of major renewable resources will reach 510 million tons. Outdated production capacity will be eliminated in accordance with laws and regulations. In principle, no new beneficiation projects without self-owned mines and supporting tailings utilization and disposal facilities will be approved. The plan focuses on comprehensive management across the entire chain in major waste-generating areas such as industry, urban areas, and agriculture and forestry.

2. [Federal Reserve] Philadelphia Fed President Anna Paulson believes that a modest further interest rate cut may be possible later in 2026, but this depends on a favorable economic outlook. Paulson estimates that current policy remains "slightly restrictive," which helps maintain downward pressure on inflation.

Building Materials

1. [Cardboard] Recently, the Ministry of Industry and Information Technology of the People's Republic of China released the industry standard for "Multi-layer Corrugated Cardboard Production Lines."

2. [Raw Paper] On January 2, 2026, a fire broke out at a well-known packaging company in Tongxiang City, Jiaxing City, Zhejiang Province. According to informed sources, the accident resulted in the destruction of more than 4,000 tons of raw paper in the warehouse, causing huge economic losses.

3. [Paper] Recently, the Guangxi Taisheng Green Fiber Full Industrial Chain Base project was announced. This project includes the construction of a production line with an annual output of 1 million tons of bleached sulfate wood (bamboo) pulp, a production line with an annual output of 450,000 tons of specialty paper, a production line with an annual output of 500,000 tons of tissue paper, and supporting facilities.

4. [Corrugated Paper] Nine Dragons Paper Dongguan Base: From January 10, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton; from January 20, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton; from January 15, 2026, the price of corrugated paper will increase by 50 RMB/ton.

Nine Dragons Paper Taicang Base: From January 10, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton; from January 20, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton; from January 15, 2026, the price of corrugated paper will increase by 50 RMB/ton.

Nine Dragons Paper Chongqing Base: From January 10, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton; from January 20, 2026, the price of grey-backed white cardboard will increase by 50 RMB/ton. From January 15, 2026, the price of corrugated paper will increase by 50 RMB/ton. Nine Dragons Paper Tianjin/Hebei Base: Effective January 10, 2026, the price of gray-backed white cardboard will increase by 50 RMB/ton; effective January 20, 2026, the price of gray-backed white cardboard will increase by 50 RMB/ton; effective January 15, 2026, the price of corrugated paper will increase by 50 RMB/ton.

Nine Dragons Paper Taicang Base: Effective January 5, 2026, the price of recycled kraft paper at the Taicang base will increase by 50 RMB/ton; effective January 7, 2026, the price of corrugated paper at the Taicang base will increase by 50 RMB/ton.

Shanying Paper Sales Co., Ltd.: Effective January 4, 2026, the price of T-paper at the Zhejiang and Anhui bases will increase by 50 RMB/ton based on the original price.

Wuzhou Special Paper: Effective January 4, 2026, the price of the group's White Rhino packaging paper products will increase by 50 RMB/ton based on the existing price.

Hubei Rongcheng Recycling Technology: Effective January 4, 2026, the price of our recycled paper/corrugated paper will increase by 50 RMB/ton.

5. [Wastepaper] On January 4th, Shanying Paper in Jiaxing, Zhejiang, lowered its wastepaper purchase price. The adjusted price without invoice at the factory is 1,730 RMB/ton.

Rongcheng Paper in Pinghu, Zhejiang, increased its wastepaper purchase price by 30 RMB/ton. The adjusted price without invoice at the factory is 1,700 RMB/ton.

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