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.

Building Materials

1. [Paper] Nine Dragons Paper’s Dongguan base has decided that, effective May 8, 2026, the prices for its Dilong Premium V Kraftliner, Dilong Kraftliner, and Nine Dragons Corrugated Medium will increase by RMB/HKD 50 per ton (USD 7 per ton).

Nine Dragons Paper’s Beihai base has decided that, effective May 8, 2026, the price for its Dilong Premium V Kraftliner produced at the Beihai base will increase by RMB/HKD 50 per ton (USD 7 per ton).

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