Macroeconomics
1. [US Non-farm Payrolls] Data released by the US Bureau of Labor Statistics shows that non-farm payrolls increased by 57,000 in June—far below the market expectation of 110,000 and the lowest level in four months. Figures for April and May were revised downward by a combined 74,000.
2. [US Unemployment Rate] The US unemployment rate unexpectedly fell to 4.2% in June—the lowest level since June 2025—against an expected 4.3%.
3. [South Korea CPI] South Korea's CPI rose 3.2% year-on-year in June, marking the largest increase since December 2023. This is the second consecutive month the rate has exceeded 3%, significantly higher than the central bank's 2% inflation target. Persistent inflation above target levels has fueled market expectations of an interest rate hike by the Bank of Korea.
4. [Shipping] Oman opposes the imposition of transit fees on vessels passing through the Strait of Hormuz but remains open to discussing charges related to maritime services. Meanwhile, some major European nations acknowledge that tolls for the Strait of Hormuz have become inevitable. Reports had previously indicated that Oman proposed a plan to charge service fees to vessels traversing the strait.
Plastics and Rubber
1. [PP] Fushun Petrochemical operates two PP production lines with a combined capacity of 390,000 tons/year. Operations are currently running at normal load levels; on July 2, the ex-factory price for raffia-grade PP (L5E89) was raised by 200 RMB to 8,200 RMB/ton.
2. [SBR] On July 2, the SBR market in East China trended downward due to weak demand, with traders lowering their offers. Prevailing market quotes are currently 12,200–12,400 RMB/ton for Fushun 1502 and 12,700–12,800 RMB/ton for Qilu 1502.
3. [Natural Rubber] On July 2, the market for natural rubber raw materials in Thailand saw stable to slightly rising prices: smoked sheets were quoted at 85.70 THB/kg (up 0.20 THB/kg), while field latex and cup lump remained stable at 75.00 THB/kg and 69.00 THB/kg, respectively.
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