Macroeconomics

1. [PMI] The National Bureau of Statistics reported that the Manufacturing Purchasing Managers' Index (PMI) was 49.0% in February, down 0.3 percentage points from the previous month, indicating a slight decline in manufacturing activity.

2. [Eurozone CPI] The Eurozone's CPI rose 1.9% year-on-year in February, below the forecast of 1.7%. The Eurozone's core CPI rose 2.4% year-on-year in February, below the expected 2.2%.

Plastics and Rubber

Rubber & Plastics

1. [PP] Guangxi Hongyi's PP production facility, with a total capacity of 150,000 tons/year, underwent maintenance shutdown at the end of December and has not yet resumed operations. The restart plan has been postponed to March 5th.

2. [HDPE] According to statistics, the maintenance loss of PE production facilities in February was approximately 248,000 tons, a decrease of 36.58% month-on-month, but an increase of 11.24% compared to the same period last year.

3. [EPS] On March 3rd, Jiangsu Jiachang raised its EPS offers: ordinary grade was quoted at 9,400 RMB/ton (cash, including tax) ex-factory, and flame-retardant grade was quoted at 9,600 RMB/ton (cash, including tax) ex-factory, an increase of 150 RMB/ton.

4. [Styrene-Butadiene Rubber (SBR) ] On March 3rd, the SBR market in Southwest China saw a significant price increase, with traders raising offers by 400-600 RMB/ton. The mainstream price for Qilu 1502 was 13,900 RMB/ton.

5. [Butadiene Rubber] On March 3, the price of butadiene rubber in East China rose sharply, with traders raising their offers by 500-600 RMB/ton. Currently, the mainstream price for butadiene rubber from Daqing, Yangzi, and Qilu is 13,600-13,850 RMB/ton; some private brands are quoting around 13,300-13,600 RMB/ton.

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