Macroeconomics
1. [US-EU Trade Friction] Trade friction between the United States and Europe continues to escalate. Reports suggest that Germany has begun preparing countermeasures against the U.S.; one potential option involves restricting potash exports to the U.S. and potentially exploring avenues for cooperation with Canada, a major global supplier of potash.
2. [US ADP Employment Figures] Data released by Automatic Data Processing (ADP) shows that U.S. private-sector employment rose by 109,000 in April—the largest increase since January 2025—exceeding market consensus forecasts of 99,000. The March figure was revised downward to an increase of 61,000.
3. [South Korean Exports] South Korea's export value reached $219.9 billion in the first quarter, a year-on-year increase of 37.8%, setting a new historical record for the same period.
Plastics and Rubber
1. [PP] Sinopec-SK (Zhonghan Petrochemical) operates three PP production units with a combined annual capacity of 700,000 tons. The first production line entered scheduled maintenance on April 30, with a planned restart date of May 7; the remaining units are currently operating at normal capacity.
2. [BR] Shandong Yihua Rubber & Plastics Technology Co., Ltd.'s 100,000-ton/year (Nickel-based/Neodymium-based) Butadiene Rubber (BR) plant was shut down for maintenance on March 25, 2026, and resumed operations with feedstock feeding on April 30, 2026.
3. [BR] On May 6, the Butadiene Rubber (BR) market in the East China region saw an upward trend. Spot traders raised their offers slightly by 100–150 RMB/ton. Currently, offers for Daqing, Yangzi, and Qilu brand BR are quoted at 16,250–16,500 RMB/ton, while some private-label brands are quoted in the range of 16,150–16,300 RMB/ton.
4. [Natural Rubber] On May 6, the market for natural rubber raw materials in Thailand's production regions experienced a price increase: Smoked Sheets (RSS) were quoted at 86.80 THB/kg, up 1.80 THB/kg; Latex was quoted at 83.50 THB/kg, up 0.75 THB/kg; and Cup Lump was quoted at 67.80 THB/kg, up 0.65 THB/kg.
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