Macroeconomics
1. [Electric Power] The NDRC and the National Energy Administration have issued the "15th Five-Year Plan for the Construction of a New Power System," proposing the preliminary establishment of such a system by 2030. Key targets include raising the share of non-fossil fuel power generation to 50% and achieving high-level integration of over 2.8 billion kilowatts of new energy capacity. Plans also call for building a charging network capable of supporting more than 110 million electric vehicles and establishing virtual power plants as a key mechanism for demand-side interaction. Breakthroughs in key technologies and equipment are expected, alongside the basic completion of a unified national electricity market system.
2. [US Manufacturing PMI] The US ISM Manufacturing PMI for July surged to 55.6—the highest level since May 2022—marking the seventh consecutive month of expansion. Key indicators—production, new orders, and employment—all strengthened.
Plastics and Rubber
1. [PP] Zhenhai Refining & Chemical operates four PP production lines with a combined capacity of 1.3 million tons per year. Line 1 restarted production of yarn-grade material on August 1, while Line 4 remains shut down for an extended period; the other units are operating at normal load levels. On August 3, the ex-factory reference price for yarn-grade material T30S was 9,250 RMB/ton.
2. [HDPE] During this period (July 24–30, 2026), the capacity utilization rate of Chinese polyethylene producers stood at 78.94%, an increase of 0.65 percentage points compared to the previous period.
3. [SBR] On August 3, market conditions for styrene-butadiene rubber (SBR) in the Jiangsu-Zhejiang region saw adjustments, with trader quotations fluctuating slightly. Currently, mainstream quotes for Grade 1502 from Fushun, Lanzhou Petrochemical, and Yangzi Petrochemical range from 13,400 to 13,600 RMB/ton, while mainstream quotes for Qilu Grade 1502 range from 13,600 to 13,800 RMB/ton.
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