Macroeconomics

1. [Industrial Enterprise Profits] National Bureau of Statistics: From January to March, industrial enterprises above a designated size nationwide realized total profits of 1,696.04 billion RMB, a year-on-year increase of 15.5%. During this period, the mining sector realized total profits of 256.33 billion RMB, up 16.2% year-on-year; the manufacturing sector realized total profits of 1,238.43 billion RMB, up 19.1%; and the sector for the production and supply of electricity, heat, gas, and water realized total profits of 201.28 billion RMB, down 3.2%. In March alone, profits of industrial enterprises above a designated size rose 15.8% year-on-year.

2. [Russia Cuts Interest Rates] The Central Bank of Russia announced a reduction in its key interest rate from 15% to 14.5%, a move consistent with market expectations. The Central Bank stated that, in upcoming meetings, it would assess the feasibility of further rate cuts based on an evaluation of the sustainability of the slowdown in inflation.

3. [Japan CPI] Japan's core CPI rose 1.8% year-on-year in March; this increase exceeded the 1.6% rise recorded in February, marking the first acceleration in the pace of growth in five months. The "core-core CPI"—a metric closely monitored by the Bank of Japan—rose 2.4% year-on-year, remaining above the central bank's 2% target.

Plastics and Rubber

1. [PP] Huizhou Lituo New Materials' PP production facility, with an annual capacity of 150,000 tons, underwent a complete shutdown on April 24; a resumption date has not yet been announced.

2. [HDPE] During the current cycle (April 17–23), the production volume lost due to maintenance at PE facilities amounted to approximately 18,030 tons—a decrease of 24,400 tons compared to the previous period.

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