SunSirs: Building Materials Industries Bulk Commodity Intelligence (October 13, 2025)

Macroeconomics

1. [Shipbuilding] China announced countermeasures against the restrictive measures imposed by the US under Section 301 on China's shipbuilding and other industries, deciding to collect special port fees on US-related vessels starting October 14.

2. [Automobile] According to data from the China Passenger Car Association, the national passenger car market sold 2.239 million units in September, a year-on-year increase of 6% and a month-on-month increase of 11%. Of this total, new energy passenger car sales reached 1.307 million units, a year-on-year increase of 16% and a month-on-month increase of 17%, with a new energy retail penetration rate of 58.5%.

3. [Federal Reserve] Federal Reserve Governor Waller warned that US job growth may have turned negative in recent months, and the weak labor market has become a major concern for the Fed in formulating policy. He expressed openness to a 25 basis point interest rate cut in the next few meetings.

Building Materials

1. [Cardboard] On October 10, the Mexican Ministry of Economy issued an announcement, issuing a preliminary affirmative anti-dumping ruling on cardboard originating in China. The preliminary ruling imposed a provisional anti-dumping duty of $0.3702 per kilogram on the products involved. The measure took effect the day after the announcement and will remain in effect for four months.

2. [Paper] Jilin Chenming Paper Industry recently resumed work and production. After an 11-month suspension, the company launched trial operations on September 28, started up its own power plant on October 6, started up its mechanical pulp line on October 7, and began producing finished paper on October 8, completing full resumption of work and production.

3. [Corrugated Paper] Effective October 20, Nine Dragons Paper's Dongguan base increased the prices of Dilong Premium V-Rayboard, Dilong Rayboard, Dilong Recycled Rayboard, Jianglong Recycled Rayboard, Nine Dragons Corrugated, and Dilong Corrugated by 30 yuan per ton. The prices of Dilong whiteboard and Jianglong whiteboard have been increased by 30 RMB/ton.

Effective from October 20th, Nine Dragons Paper's Taicang base will increase the prices of Dilong premium linerboard, Dilong linerboard, recycled series linerboard, and corrugated paper by 30 RMB/ton. The prices of Dilong gray-backed whiteboard, Jianglong gray-backed whiteboard, and Jianglong B gray-backed whiteboard will also be increased by 30 RMB/ton.

Effective from October 20th, Nine Dragons Paper's Quanzhou base will increase the prices of all linerboard and corrugated paper by 30 RMB/ton.

Effective from October 23rd, Nine Dragons Paper's Tianjin and Hebei bases will increase the prices of Dilong linerboard, recycled linerboard, and corrugated paper by 30 RMB/ton.

Effective from October 23rd, Nine Dragons Paper's Shenyang base will increase the prices of Dilong linerboard, recycled linerboard, and corrugated paper by 30 RMB/ton.

4. [Glass] Yaohua Pilkington Glass announced that the energy-saving upgrade of the melting furnace and the automation transformation of the float glass production line at its wholly-owned subsidiary, Dalian Yaohua Pilkington Glass Co., Ltd., were successfully ignited on October 10, 2025.

5. [Asphalt] Domestic asphalt production in October was 2.682 million tons, a decrease of 4,000 tons, or 0.1%, month-on-month, and an increase of 350,000 tons, or 15.0%, year-on-year. Landbridge Petrochemical, Jincheng Petrochemical, and Shengxing Petrochemical are scheduled for maintenance.

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