SunSirs: Rubber and Plastics Industries Bulk Commodity Intelligence (October 14, 2025)

Macroeconomics

1. [Ship] China's Ministry of Transport issued implementation measures for collecting special port fees from US ships. The measures will take effect on October 14, 2025. Starting on that date, eligible US ships berthing at Chinese ports will be charged RMB 400 per net ton. The fee will increase annually over the next three years, reaching RMB 1,120 per net ton in 2028.

2. [Import and Export] According to customs statistics, my country's import and export of goods reached 33.61 trillion yuan in the first three quarters of 2025, a year-on-year increase of 4%. Of this total, exports reached 19.95 trillion yuan, a year-on-year increase of 7.1%, while imports reached 13.66 trillion yuan, a year-on-year decrease of 0.2%. In September, imports and exports totaled 4.04 trillion yuan, a year-on-year increase of 8%.

3. [Federal Reserve] Federal Reserve Chair Paulson stated that she supports two more interest rate cuts this year, each by 25 basis points. Paulson stated that monetary policy should ignore the impact of tariffs on consumer prices because she believes the conditions for tariff-induced price increases to evolve into sustained inflation are not present.

4. [India CPI] India's CPI rose 1.54% year-on-year in September, slightly higher than economists' forecast of 1.5%, but significantly lower than August's 2.07% increase, marking the slowest growth rate in eight years. Weak inflation has reinforced market expectations for a December interest rate cut by the Reserve Bank of India.

Rubber and Plastics

1. [PC] Pingmei Shenma's polycarbonate PC unit has a production capacity of 100,000 tons/year and is currently operating at a stable rate. Maintenance is planned for late October.

Lihua Yilijin's PC unit has two production lines with a total production capacity of 130,000 tons/year. All lines entered maintenance on October 9.

2. [PP] Zhenhai Refining and Chemical has four PP production lines with a total production capacity of 1.3 million tons/year. Currently, three units are operating. Line 3 entered maintenance on September 23 and is expected to resume operation on November 9. The ex-factory reference price of T30S wire drawing has been lowered, falling by 50 yuan to 6,900 RMB/ton on October 13.

3. [BR] Yangzi Petrochemical's 100,000 tons/year high-quality butadiene rubber unit is currently operating normally; the unit is scheduled to shut down for maintenance starting October 15, 2025.

4. [NBR] The nitrile rubber market in Zhejiang Province was weak and consolidating on October 13. Nandi Nitrile 1052 is quoted at 17,300-17,400 RMB/ton; Ningbo Shunze 3355 is quoted at 16,300-16,500 RMB/ton; and Jinpu Yingsa 3350 is quoted at 16,000-16,200 RMB/ton.

5. [SBR] The styrene-butadiene rubber market in East China weakened and declined on October 13th. Downstream inquiries were weak, and supply prices were reduced by around 300 RMB/ton. Merchant market quotations fell by around 100-300 RMB/ton. Currently, the mainstream styrene-butadiene 1502 prices from Fushun, Jilin Chemical, Qilu, Weitai, Yibang, and Lanhua are priced at 11,550-11,700 RMB/ton.

6. [Natural Rubber] Customs data show that China's imports of natural and synthetic rubber (including latex) totaled 742,000 tons in September 2025, a 20.8% increase from 614,000 tons in the same period of 2024.

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