Macroeconomics

1. [LPR] The People's Bank of China released the February Loan Prime Rate (LPR): The 5-year LPR is 3.5%, unchanged from the previous month. The 1-year LPR is 3%, unchanged from the previous month.

2. [US Tariffs] The US Supreme Court ruled that the Trump administration's large-scale tariffs under the International Emergency Economic Powers Act were illegal. Trump subsequently signed an executive order imposing a 10% ad valorem tariff on imported goods starting February 24th for 150 days, later raising the rate to 15%.

3. [US Tariffs] On February 23rd, US media reported that the US government is considering imposing a new round of tariffs on approximately six industries under the pretext of "national security." Sources indicate that the proposed tariffs may cover industries such as large batteries, cast iron and iron fittings, plastic pipes, industrial chemicals, and power grid and telecommunications equipment. These new tariffs will be implemented independently of the recently announced 15% global tariff measures.

4. [Eurozone PMI] The Eurozone's February Manufacturing PMI preliminary reading was 50.8, below the expected 50.0 and the final January reading of 49.5; the Services PMI preliminary reading was 51.8, below the expected 51.9 and the final January reading of 51.6; the Composite PMI preliminary reading was 51.9, below the expected 51.5 and the final January reading of 51.3.

5. [Japan PMI] Japan's February Manufacturing PMI preliminary reading was 52.8, compared to 51.5 previously; the Services PMI preliminary reading was 53.8, compared to 53.7 previously; the Composite PMI preliminary reading was 53.8, compared to 53.1 previously.

6. [India PMI] India's February Manufacturing PMI preliminary reading was 57.5, below the expected 56.2 and the previous reading of 55.4; the Services PMI preliminary reading was 58.4, below the expected 59 and the previous reading of 58.5; the Composite PMI preliminary reading was 59.3, in line with expectations and the previous reading of 58.4.

Building Materials

1. [Grey Board Paper] Nine Dragons Paper's Tianjin base will have its printing presses shut down for 10 days from February 26th to March 7th at PM 31. This affects grey-backed white paper.

2.  [White Cardboard] Starting February 26th, Wanguo Paper's Sun White Cardboard Co., Ltd. will uniformly increase the price of all its white cardboard, coated cardboard, and food-grade cardboard products by 200 RMB/ton, based on the current prices.

SunSirs has been continuously tracking price data for over 200 commodities for more than 15 years, please contact support@sunsirs.com for subscription.