SunSirs: Building Materials Industries Bulk Commodity Intelligence (December 18, 2025)

Macroeconomics

1. [Public Budget Revenue] According to data from the Ministry of Finance, from January to November, national general public budget revenue totaled 20,051.6 billion RMB, a year-on-year increase of 0.8%. Of this, national tax revenue was 16,481.4 billion RMB, a year-on-year increase of 1.8%; non-tax revenue was 3,570.2 billion RMB, a year-on-year decrease of 3.7%. Broken down by central and local government, central general public budget revenue was 8,846.4 billion RMB, a year-on-year decrease of 1%; local general public budget revenue was 11,205.2 billion RMB, a year-on-year increase of 2.2%.

2. [Federal Reserve] Federal Reserve Governor Waller stated that the job market indicates the Fed should continue to cut interest rates, and that the Fed's interest rate level is 50 to 100 basis points higher than the neutral rate. Waller does not believe that inflation will accelerate again.

3. [UK CPI] The UK's November CPI slowed to 3.2% year-on-year, the lowest level since March of this year; month-on-month, it decreased by 0.2%, the lowest level since July 2024. The UK's November retail price index decreased by 0.5% month-on-month, the largest decrease since July 2023.

4. [Japanese Exports] Data released by the Japanese Ministry of Finance showed that Japan's exports to the United States increased by 8.8% year-on-year in November, the first increase in eight months. Imports from the US increased by 7.1%, the fourth consecutive month of increase. Japan's exports to China decreased by 2.4% in November.

Building Materials

1. [Wastepaper] On December 17th, Henan Xinxiang Hengli Paper lowered its waste paper purchase price by 70 RMB/ton, with the adjusted price (including VAT) at the factory being 1,730 RMB/ton.

Zhejiang Jiaxing Shanying Paper lowered its waste paper purchase price by 50 RMB/ton, with the adjusted price (excluding VAT) at the factory being 1,930 RMB/ton.

Jiangsu Taicang Nine Dragons Paper lowered its waste paper purchase price by 50 RMB/ton, with the adjusted price at the factory being 1,720 RMB/ton.

Tianjin Nine Dragons Paper lowered its waste paper purchase price by 50 RMB/ton, with the adjusted price at the factory being 1,640 RMB/ton.

2. [Corrugated Paper] Recently, Nine Dragons Paper Taicang base: Corrugated paper prices were uniformly lowered by 150 RMB/ton, and recycled paper prices were lowered by 100 RMB/ton.

Nine Dragons Paper Hubei base: Prices for premium corrugated paper were lowered by 50 RMB/ton, with prices remaining unchanged in the next round.

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