Macroeconomics

1. [US CPI] US CPI rose 3.4% year-on-year in August (matching the estimate and the previous reading) and 0.4% month-on-month (matching the expectation). Core CPI rose 2.4% year-on-year (in line with market expectations) and 0.3% month-on-month (slightly above expectations). Following the data release, traders priced in a roughly 90% probability of a Federal Reserve rate hike in September. The market fully anticipates two rate hikes by the Fed before the end of the year.

2. [Shipping] Global container shipping giant CMA CGM will implement a Peak Season Surcharge (PSS) of $4,000 per 40-foot equivalent unit (FEU) on all cargo from Asia-Pacific and India to the US East and West Coasts, effective October 1.

Plastics and Rubber

1. [Tires] On September 8, the Yunnan Tianyi Kunhong Industrial tire manufacturing project broke ground in the Nanshanba area of ​​Dayao County, Chuxiong Prefecture. With a total investment of 350 million RMB and a land area of ​​61.72 mu, the project will feature three production lines capable of producing 1.2 million all-steel radial truck tires, 600,000 sets of airless tires, and 3 million automotive inner tubes annually. Production is scheduled to begin in August 2028, helping to complete the local equipment manufacturing supply chain.

2. [PE] Guangdong Petrochemical’s 400,000-ton/year full-density polyethylene unit (Line 1) is scheduled for maintenance; the shutdown begins on September 17, 2026, with the restart date yet to be determined.

SABIC-Sinopec Petrochemical’s 300,000-ton/year linear polyethylene (LLDPE) unit is scheduled for maintenance from September 10 to September 15, 2026.

3. [HDPE] During this period (September 4–10), the production loss due to maintenance at domestic polyethylene units was approximately 143,500 tons, a decrease of 14,000 tons compared to the previous period.

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