SunSirs: Building Materials Industries Bulk Commodity Intelligence (February 5, 2026)

Macroeconomics

1. [Logistics Industry Prosperity Index] According to the China Federation of Logistics & Purchasing, the China Logistics Industry Prosperity Index in January was 51.2%, with the business volume index, new orders index, logistics service price index, fixed asset investment completion index, employment index, and business activity expectation index all above the 50% expansion threshold.

2. [Automobiles] According to preliminary statistics from the China Passenger Car Association, the estimated wholesale sales of new energy passenger vehicles in China in January were 900,000 units, a year-on-year increase of 1%. Of these, Tesla China's wholesale sales were 69,129 units, a year-on-year increase of 9.3%.

3. [US ADP Employment] US ADP employment increased by 22,000 in January, lower than the market expectation of 48,000.

4. [Eurozone CPI] The Eurozone's CPI only rose by 1.7% year-on-year in January, the lowest level since September 2024. Core CPI fell to 2.2%, the lowest since October 2021. Services inflation slowed to 3.2%. The market expects the European Central Bank to remain on hold this week.

Building Materials

1. [Corrugated Paper] Recently, Nine Dragons Paper, a giant in the paper industry, issued another price adjustment notice for its nine bases.  Starting March 2nd, the prices of kraft paper, corrugated paper, and other paper types will be generally increased by 50 RMB/ton.

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