Macroeconomics

1. [PPI] National Bureau of Statistics: In March 2026, the national Producer Price Index (PPI) for manufactured goods turned from a year-on-year decline of 0.9% in the previous month to an increase of 0.5%; on a month-on-month basis, it rose by 1.0%, an increase of 0.6 percentage points compared to the previous month. The purchasing price index for industrial producers shifted from a year-on-year decline of 0.7% in the previous month to an increase of 0.8%; on a month-on-month basis, it rose by 1.2%, an increase of 0.5 percentage points compared to the previous month. For the first quarter, the PPI for manufactured goods declined by 0.6% year-on-year, while the purchasing price index for industrial producers declined by 0.5%.

2. [CPI] National Bureau of Statistics: In March 2026, the national Consumer Price Index (CPI) rose by 1.0% year-on-year and declined by 0.7% month-on-month. On average, from January to March, the national CPI rose by 0.9% compared to the same period of the previous year.

3. [US Initial Jobless Claims] Last week, the number of initial claims for unemployment benefits in the United States stood at 219,000, compared to an expectation of 210,000 and a previous reading of 202,000.

Building Materials

1. [Wastepaper] April 9, 2026: Tianjin Nine Dragons Paper has raised its wastepaper purchasing price by 30 RMB/ton, bringing the adjusted ex-factory price to 1,480 RMB/ton.

Jiangsu Taicang Nine Dragons Paper has raised its waste paper purchasing price by 20 RMB/ton, bringing the adjusted ex-factory price to 1,590 RMB/ton.

Fujian Quanzhou Nine Dragons Paper has raised its waste paper purchasing price by 20 RMB/ton, bringing the adjusted ex-factory price to 1,630 RMB/ton.

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