SunSirs: Rubber and Plastics Industries Bulk Commodity Intelligence (September 4, 2025)

Macroeconomics

1. [Automobile] According to preliminary statistics from the China Passenger Car Association (CPCA), in August, the national new energy vehicle market saw retail sales of 1.079 million units, a year-on-year increase of 5% and a month-on-month increase of 9%. The national new energy vehicle market penetration rate reached 55.3%. Year-to-date, cumulative retail sales reached 7.535 million units, a year-on-year increase of 25%.

2. [Federal Reserve] Federal Reserve Board Governor Waller stated that the Fed should begin cutting interest rates this month and make multiple cuts in the coming months, but he remained open to the specific pace of rate cuts, believing that this would depend on future economic data.

3. [US Job Vacancies] The US Job Openings Index (JOLTS) for July reached 7.181 million, the lowest level since September 2024 and below expectations. The previous reading was revised down from 7.437 million to 7.36 million. July's JOLTS vacancies were the second time since the end of 2020 that the number of JOLTS vacancies fell below 7.2 million.

4. [Eurozone PMI] The final Eurozone Composite PMI for August rose slightly to 51, revised down 0.1 percentage point from the initial reading, reaching a 12-month high; the Services PMI fell to 50.5 from 51 in July.

5. [Bank of Japan] Bank of Japan Governor Kazuo Ueda, after a meeting with Prime Minister Shigeru Ishiba, stated that the Bank of Japan will raise interest rates if Japan's economic growth and prices meet expectations. Ueda revealed that the two sides exchanged views on economic, price, and market trends, and also discussed exchange rate issues.

Rubber and Plastics

1. [PP] On September 3rd, Jingmen Petrochemical's 120,000 tons/year PP production facility operated normally. The ex-factory reference price of fiber Y26 was lowered by 50 RMB to 7,250 RMB/ton.

2. [EVA] On September 3rd, the EVA market in Guangdong remained largely stable with minor fluctuations. Baofeng 1803 is currently priced between 10,200 and 10,400 RMB/ton, and BASF-YPC V5110J is priced between 11,000 and 11,200 RMB/ton.

3. [Butadiene Rubber] On September 3rd, the butadiene rubber market in East China saw a slight increase. The mainstream prices for Daqing, Yangzi, and Qilu butadiene are currently between 12,150 and 12,400 RMB/ton; some private brands are priced around 11,900 to 12,150 RMB/ton.

4. [Natural Rubber] Data shows that in the first seven months of 2025, Indonesia's natural rubber exports (excluding compounded rubber) totaled 968,000 tons, an 8% year-on-year increase. Among them, the total export of standard rubber was 946,000 tons, an increase of 8% year-on-year; the export of smoked sheet rubber was 21,000 tons, the same as the previous year; the export of latex was 400 tons, a decrease of 33% year-on-year.

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