Macroeconomics

1. [PPI] National Bureau of Statistics: In May 2026, China's producer prices for industrial products rose by 3.9% year-on-year and 0.5% month-on-month. Purchase prices for industrial producers increased by 5.8% year-on-year and 1.3% month-on-month. For the January–May period, producer prices rose by an average of 1.0% year-on-year, while purchase prices for industrial producers rose by 1.6%.

2. [CPI] National Bureau of Statistics: In May 2026, the national Consumer Price Index (CPI) rose by 1.2% year-on-year. Specifically, prices rose by 1.3% in urban areas and 1.1% in rural areas; food prices fell by 1.7% while non-food prices rose by 1.9%; prices for consumer goods rose by 1.6% and service prices by 0.8%. For the January–May period, the national CPI rose by an average of 1.0% year-on-year. In May, the national CPI fell by 0.1% month-on-month.

3. [Imports & Exports] Data from the General Administration of Customs shows that in the first five months of 2026, China's foreign trade maintained a trend of steady growth. The total value of imports and exports of goods reached 20.68 trillion RMB, up 15.3% year-on-year. Of this total, exports amounted to 11.91 trillion RMB (up 11.8%) and imports to 8.77 trillion RMB (up 20.5%). In May alone, total imports and exports reached 4.45 trillion RMB—exceeding the 4-trillion-yuan mark for the third consecutive month—with the year-on-year growth rate accelerating to 16.9%.

Building Materials                                                         

1. [Glass] It is reported that another photovoltaic glass production line in South China has reduced output or suspended operations this week, affecting a capacity of 1,200 tons per day. Furthermore, preliminary surveys indicate that production cuts totaling approximately 8,000 tons per day are expected to begin in June; the specific timing of these reductions will depend on the strategies adopted by individual enterprises.

2. [Corrugated Paper] Shanying Paper (Zhejiang Base): Effective June 10, prices for T-grade paper and corrugating medium increased by 50 RMB/ton; effective June 13, prices for "Jinshan" and "Hongshan" grades increased by 50 RMB/ton.

Shanying Paper (Anhui Base): Effective June 10, prices for T-grade paper and corrugating medium increased by 50 RMB/ton; effective June 13, prices for "Jinshan" and "Hongshan" grades increased by 50 RMB/ton.

Shanying Paper (Suzhou Base): Effective June 10, prices for T-grade paper and corrugating medium increased by 50 RMB/ton; effective June 13, prices for "Jinshan" and "Hongshan" grades increased by 50 RMB/ton.

3. [Wastepaper] On June 9, 2026, Nine Dragons Paper (Taicang, Jiangsu) raised its wastepaper purchase price by 30 RMB/ton, setting the adjusted delivered price at 1,840 RMB/ton.

Rongcheng Paper (Pinghu, Zhejiang) raised its wastepaper purchase price by 20 RMB/ton, setting the adjusted delivered price (excluding tax invoice) at 1,940 RMB/ton.

Jingxing Paper (Jiaxing, Zhejiang) raised its wastepaper purchase price by 30 RMB/ton, setting the adjusted delivered price (excluding tax invoice) at 1,870 RMB/ton.

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