Macroeconomics

1. [Foreign Exchange Reserves] According to statistics released by the State Administration of Foreign Exchange, as of the end of April 2026, my country's foreign exchange reserves stood at US$3,410.5 billion—an increase of US$68.4 billion from the end of March, representing a growth of 2.05%.

2. [Shipping] The Ministry of Natural Resources announced that during the first quarter, the marine shipbuilding industry demonstrated strong growth momentum. All three key indicators—new orders received for marine vessels, vessels completed, and vessels on order (backlog)—saw comprehensive increases. Compared to the same period last year, these figures rose by 116.7%, 33.3%, and 30.0%, respectively, with China maintaining its position as the global leader in international market share.

3. [Automobiles] Data released by the China Automobile Dealers Association indicates that the Automobile Consumption Index for April stood at 80.8, showing a slight month-on-month improvement. It is projected that overall vehicle sales in May will see a significant increase compared to April.

4. [U.S. Tariffs] On May 7, the U.S. Court of International Trade issued a ruling declaring that the legal basis for a policy imposing a 10% global import tariff was invalid. On February 20, President Trump had announced—pursuant to Section 122 of the *Trade Act of 1974*—the imposition of a "10% global tariff on all countries" for a period of 150 days, intended to replace tariffs that had previously been ruled unlawful by the Supreme Court.

5. [U.S. Initial Jobless Claims] Data released by the U.S. Department of Labor on Thursday showed that for the week ending May 2, initial jobless claims rose by 10,000 to a total of 200,000—coming in below market expectations of 205,000. Meanwhile, continuing jobless claims fell to 1.77 million in the preceding week, marking a two-year low.

Plastics and Rubber

1. [PC] Shanghai Mitsubishi operates two PC production lines with a combined installed capacity of 100,000 tons per year. Current operating loads are normal, and a scheduled maintenance shutdown is planned for mid-May. The PC powder output from these lines is primarily allocated for internal consumption by Mitsubishi's downstream compounding facilities.

2. [PE] As of May 7, updates on Maoming Petrochemical's PE facilities are as follows: The No. 1 LDPE unit has switched production to grade 951-000; the No. 2 LDPE unit is producing grade 2426K; the full-density unit has been shut down; and the HDPE unit is producing grade HXB4505N.

3. [SBR] Jilin Petrochemical's 140,000-ton/year Styrene-Butadiene Rubber (SBR) facility, which comprises three production lines, initiated a maintenance shutdown on one of its lines effective May 6, 2026.

Qilu Petrochemical's 230,000-ton/year SBR facility consists of five production lines; currently, the No. 2 unit (100,000 tons/year capacity) has been shut down for maintenance effective May 6, 2026, with a restart date yet to be determined.

4. [BR] On May 7, market prices for Butadiene Rubber (BR) in the East China region trended downward, with spot traders lowering their offers slightly by approximately 100–150 RMB per ton. Currently, offers for BR from major producers—Daqing, Yangzi, and Qilu—range from 16,050 to 16,300 RMB per ton, while offers for certain private-label brands hover around 15,900 to 16,100 RMB per ton.

5. [Natural Rubber] On May 7, market prices for natural rubber raw materials in Thailand's production regions trended upward: Smoked Sheets (RSS) were quoted at 88.10 THB/kg (up 1.30 THB/kg); Latex was quoted at 84.00 THB/kg (up 0.50 THB/kg); and Cup Lump was quoted at 68.70 THB/kg (up 0.90 THB/kg).

6. [Tires] The latest data indicates that in the first quarter of 2026, the United States imported a total of 67.83 million tires, representing a year-on-year decline of 4%.

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