Macroeconomics
1. [US Tariffs] The US Department of Commerce announced it will impose countervailing duties on crystalline silicon solar cell modules imported from India, Indonesia, and Laos, arguing that manufacturers benefit from government subsidies, weakening the competitiveness of US products. According to the preliminary ruling, the general subsidy rate for Indian producers/exporters is set at 125.87%, Indonesia at 104.38%, and Laos at 80.67%.
2. [US Tariffs] US Trade Representative Jamison Greer stated on February 25 that the US's "global import tariffs" on some countries will increase from the recently implemented 10% to 15% or higher, but he did not disclose any specific trading partners or other details.
3. [Thailand Interest Rate Cut] The Bank of Thailand announced on February 25 a 25 basis point cut to its policy rate to 1.00%, aiming to further support the economy facing multiple challenges. This is the bank's sixth rate cut since October 2024, with a cumulative reduction of 150 basis points.
Building Materials
1. [Glass] It is reported that the signing ceremony for Jiangsu Wushuang New Energy's 120 million RMB photovoltaic glass processing project for double-glass modules was successfully held recently in Huainan City, Anhui Province.
2. [Glass] Gansu Kaisheng Daming Solar Energy's production line (designed capacity 600 tons/day) began production on February 23rd, with plans to produce ultra-white glass.
3. [Corrugated Paper] Nine Dragons Paper's Hubei base: Prices for recycled kraft paper, Dilong kraft paper, and Dilong premium V kraft paper will increase by 50 RMB/ton starting February 25th; prices for Hailong kraft paper, Hailong premium kraft paper, Nine Dragons premium kraft paper, and Nine Dragons special V kraft paper will increase by 50 RMB/ton starting March 2nd.
Nine Dragons Paper's Dongguan base: Prices for all kraft paper (including white-faced and coated kraft paper), recycled kraft paper, and corrugated paper will increase by 50 RMB/ton starting February 25th.
On February 25th, Nine Dragons Paper's Quanzhou and Chongqing bases raised prices by 50 RMB/ton for all kraft paper, recycled kraft paper, and corrugated paper.
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