SunSirs: Building Materials 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.

Building Materials

1. [Wood Pulp] Eldorado Brasil Celulose will conduct a complete shutdown and maintenance at its Tres Lagoas mill in Mato Grosso do Sul, Brazil, from October 20 to 31, 2025. Eldorado's Tres Lagoas mill has an annual production capacity of approximately 1.8 million tons of bleached eucalyptus pulp, 90% of which is exported, approximately half of which is to the Chinese market.

2. [Wastepaper] On October 21, Jiangsu Taicang Nine Dragons Paper Co., Ltd. increased its waste paper purchase price by 30 RMB/ton, bringing the ex-factory price to 1,810 RMB/ton.

Fujian Quanzhou Nine Dragons Paper Co., Ltd. increased its waste paper purchase price by 50 RMB/ton, bringing the ex-factory price to 1,860 RMB/ton.

3. [White Cardboard] Dongguan Jianhui Paper: The sales price of coated gray-backed white board will increase by 50 RMB/ton on October 27, 2025, based on the original price. The sales price of coated white-top kraft paper will increase by 50 RMB/ton on October 27, 2025, based on the original price.

4. [Corrugated Paper] Nine Dragons Paper: Effective October 21, 2025, the prices of Nine Dragons Premium, Nine Dragons Kraftboard, Hailong Premium, Hailong Kraftboard, Dilong Premium, and Dilong Kraftboard at the Taicang base will increase by 50 RMB/ton. Effective October 23, 2025, the prices of recycled kraftboard and corrugated paper at the Taicang base will increase by 50 RMB/ton. Effective October 27, 2025, the prices of Nine Dragons Premium, Nine Dragons Kraftboard, Hailong Premium, Hailong Kraftboard, Dilong Premium, and Dilong Kraftboard at the Taicang base will increase by 50 RMB/ton. Effective October 27, 2025, the prices of Dilong Whiteboard, Jianglong Whiteboard, and Jianglong B Whiteboard at the Taicang base will increase by 50 RMB/ton.

Effective October 21, 2025, the prices of Dilong Premium V-Rayboard, Dilong Premium Rayboard, Dilong Rayboard, and Recycled Rayboard at the Tianjin and Hebei bases will increase by 50 RMB/ton. Effective October 23, 2025, the prices of 55-125g corrugated paper at the Tianjin base will increase by 30 RMB/ton, and the prices of 130-170g corrugated paper will increase by 50 RMB/ton. The prices of Nine Dragons Corrugated paper at the Hebei base will increase by 30 RMB/ton, and the prices of Dilong Corrugated paper will increase by 60 RMB/ton. Effective October 27, 2025, the prices of Nine Dragons Rayboard, Hailong Premium Rayboard, and Hailong Rayboard at the Tianjin and Hebei bases will increase by 50 RMB/ton. Effective October 27, 2025, the price of whiteboard paper at the Tianjin base will increase by 50 RMB/ton.

Starting October 21, 2025, the prices of Nine Dragons Premium Blender, Dragon Super Premium Blender, Hailong Premium Blender, Dragon A Blender, and Hailong T Blender at the Chongqing base will increase by 100 RMB/ton, and the prices of Dilong Premium Blender, Dragon A Blender, and Dilong Blender will increase by 50 RMB/ton. Starting October 24, 2025, the prices of recycled blender and corrugated paper at the Chongqing base will increase by 50 RMB/ton.

Hebei Hangao New Materials Technology Co., Ltd.: Starting October 21, 2025, all corrugated paper prices will increase by 50 RMB/ton based on the current selling price.

5. [Cement] From January to September 2025, national cement production reached 1.259 billion tons, a year-on-year decrease of 5.2%. In September, national cement production reached 154 million tons, a year-on-year decrease of 8.6%.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.