SunSirs: Rubber and Plastics Industries Bulk Commodity Intelligence (September 28, 2025)

Macroeconomics

1. [Industrial Enterprise Profits] National Bureau of Statistics: In August, profits of industrial enterprises above designated size turned from a year-on-year decline of 1.5% in the previous month to a growth of 20.4%. From January to August, total profits of industrial enterprises above designated size nationwide reached 4692.97 billion RMB, a year-on-year increase of 0.9%. From January to August, total profits of the mining industry reached 566.11 billion RMB, a year-on-year decrease of 30.6%; total profits of the manufacturing industry reached 3523.35 billion RMB, a 7.4% increase; and total profits of the electricity, heat, gas, and water production and supply industry reached 603.51 billion RMB, a 9.4% increase.

2. [Electricity] The National Energy Administration released data showing that from January to August, the country's cumulative installed power generation capacity reached 369 billion kilowatts, an increase of 18% year-on-year. Of this total, installed solar power capacity reached 112 billion kilowatts, a year-on-year increase of 48.5%; and installed wind power capacity reached 580 million kilowatts, a year-on-year increase of 22.1%.

3. [US Consumer Confidence Index] The latest data from the University of Michigan shows that the consumer confidence index fell to 55.1 in September, down 3.1 points from the previous month, a drop of about 5%, and below the market expectation of 55.4. This level is the lowest since May this year.

4. [US PCE Price Index] The US core PCE price index rose 0.2% month-on-month in August, in line with the forecast of 0.2% and the previous value of 0.3%. It also rose 2.9% year-on-year, in line with the forecast of 2.9% and the previous value of 2.9%.

Rubber and Plastics

1. [HDPE] During this period (September 19-25), PE plant maintenance losses totaled approximately 118,100 tons, a decrease of 6,400 tons compared to the same period last week.

2. [Natural Rubber] On September 26, the natural rubber market in Shanghai weakened and consolidated, with some traders slightly lowering their quotations by 50-100 RMB/ton. The current mainstream prices in Qingdao for 23-year-old Guangken, Baodao, and Haibao full-latex are 14,750-15,050 RMB/ton; the mainstream prices in Qingdao for 24-year-old Guangken full-latex are 14,850-15,100 RMB/ton; and the mainstream prices for Vietnamese 3L are 15,200-15,350 RMB/ton.

3. [Natural Rubber] On September 26, the market price of natural rubber raw materials in Thailand's production areas was stable but declining: the price of tobacco sheets was 60.80 baht/kg, down 0.25 baht/kg; the price of glue was 54.80 baht/kg, stable; and the price of cup rubber was 53.85 baht/kg, stable.

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