SunSirs: Rubber and Plastics Industries Bulk Commodity Intelligence (October 22, 2025)

Macroeconomics

1. [US-India Trade Agreement] According to sources familiar with the matter, India and the United States are close to reaching a trade agreement that could reduce India's current export tariff from 50% to 15%-16%. India may agree to gradually reduce its imports of Russian oil and may also allow more non-GMO U.S. corn and soybean meal into the market.

2. [Japan Imports and Exports] Japan's Ministry of Finance announced on Wednesday that exports grew 4.2% year-on-year in September, with mineral fuel exports contributing. Exports to the United States fell 13.3% that month. Overall, Japan's trade deficit was 314 billion yen (US$2.1 billion). Imports grew 3.3% in September, compared to economists' expectations of a 0.6% increase.

Rubber and Plastics

1. [PE] On October 21st, Lianyungang Petrochemical announced that its Phase I HDPE unit would be shut down for maintenance from August 15th until November. The Phase II HDPE unit will produce FS7000.

2. [PE] In September 2025, domestic polyethylene imports reached 1.0222 million tons, a 7.58% increase from the previous month and a 10.07% decrease from the previous year. Polyethylene exports reached 99,200 tons, a 14.48% decrease from the previous month and a 63.55% increase from the previous year.

3. [EPS] In September 2025, my country imported 726.71 tons of EPS, and from January to September, it imported 7421.528 tons, a cumulative decrease of 7.54% compared to the same period last year. In September 2025, my country exported 43,563.33 tons of EPS, and from January to September, it exported 328,142.12 tons, a 29.34% increase compared to the same period last year.

4. [EVA] In September 2025, China's EVA imports reached 54,100 tons, a year-on-year decrease of 9.23%. From January to September, EVA imports reached 538,900 tons, a year-on-year decrease of 25.67%. In September, China's EVA exports reached 26,200 tons, a month-on-month decrease of 4.38%.

5. [Natural Rubber] In September 2025, China imported 122,600 tons of standard natural rubber, primarily from Thailand, Indonesia, and Côte d'Ivoire. Cumulative imports from January to September 2025 totaled 1.3184 million tons.

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