SunSirs: Building Materials Industries Bulk Commodity Intelligence (August 28, 2025)

Macro

1. Promoting service exports: According to the Ministry of Commerce, a series of policy measures to promote service exports and several policy measures to expand service consumption will be launched in the near future.

2. Logistics: According to data from the China Federation of Logistics and Purchasing, from January to July, the total social logistics volume in China was 201.9 trillion RMB, a year-on-year increase of 5.2%. From a structural perspective, the total logistics volume of industrial products increased by 5.7% year-on-year, and the growth area continued to expand. 35 industries have achieved year-on-year growth in logistics demand, with a growth rate exceeding 85%. Among them, the demand for high-end manufacturing logistics is growing rapidly.

3. Federal Reserve: New York Fed President Williams said it is appropriate to lower interest rates at the appropriate time. We still maintain a moderately restrictive stance in policy, and if the neutral interest rate is 1% or slightly lower, we are now in a restricted area. He also expressed considerable optimism about the economic situation.

4. South Korean interest rate: The Bank of Korea has kept the benchmark interest rate unchanged at 2.50%, which is in line with market expectations.

Building materials

1. Glass: Xinjiang Puyao New Building Materials Co., Ltd., Puyao first-line (designed production capacity of 500 tons/day), ignited on August 26th.

Zhuzhou Liling Qibin Glass Co., Ltd., originally producing jadeite green on the third line, switched to producing ocean blue on August 26th and has already started production.

2. Wood pulp: According to reports, facing global price pressure, Suzano expects to adjust pulp order prices starting next month. The pulp prices in China and other Asian countries will increase by $20/ton, while the pulp prices in Europe and the United States will increase by $80/ton.

3. Wastepaper: On August 27th, Jiulong Paper Industry in Quanzhou, Fujian Province raised the purchase price of wastepaper by 30 RMB/ton, and the adjusted price upon arrival at the factory was 1,570 RMB/ton.

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