Macroeconomics

1. [PMI] National Bureau of Statistics: In August 2026, the manufacturing Purchasing Managers' Index (PMI) stood at 49.8%, up 0.6 percentage points from the previous month, signaling a recovery in business activity.

2. [Federal Reserve] Fed Chair Warsh delivered his most hawkish speech since 2009 at Jackson Hole, hinting at interest rate hikes if inflation does not subside quickly. Market expectations for a September rate hike rose from 35% to nearly 60%, with forecasts suggesting two potential hikes before March 2027.

3. [ECB] European Central Bank officials issued inflation warnings on the sidelines of the Fed's annual Jackson Hole symposium, leaning toward a September rate hike; meanwhile, the Bank of England maintained a relatively dovish stance, signaling no rush to act.

Plastics and Rubber

1. [PE] Ningxia Baofeng’s 300,000-ton/year full-density polyethylene (FDPE) unit was temporarily shut down for maintenance on August 25, 2026; the maintenance is scheduled to conclude on August 29, 2026.

Dushanzi Petrochemical’s older full-density Line 1 (annual capacity of 80,000 tons) underwent a scheduled maintenance shutdown starting August 18, 2026, with work scheduled to finish on August 30, 2026.

Zhongtian Hechuang’s 300,000-ton/year linear polyethylene (LLDPE) unit underwent a scheduled maintenance shutdown starting August 14, 2026, with work scheduled to finish on August 31, 2026.

2. [HDPE] During this period (August 21–27), production losses due to polyethylene unit maintenance totaled approximately 160,600 tons, a decrease of 600 tons compared to the previous period.

3. [PVC] As of August 27, factory inventories at Chinese PVC producers represented 4.6 days of production, a decrease of 4.17% compared to the previous period. Inventories declined due to a combination of increased shipments by producers at month-end and reduced supply resulting from lower operating rates during the week.

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