SunSirs: Plastics and Rubber Industries Bulk Commodity Intelligence (February 25, 2026)

Macroeconomics

1. [MLF] The People's Bank of China will conduct 600 billion RMB of MLF operations on February 25th. Given that 300 billion RMB of MLF matures this month, this means that the February MLF rollover will be 300 billion RMB more, marking the 12th consecutive month of increased rollovers. The increase is smaller than the 700 billion RMB in the previous month.

2. [Export Controls] The Ministry of Commerce issued an announcement on February 24th, deciding to add 20 Japanese entities to the export control list and another 20 Japanese entities to the watch list.

3. [Federal Reserve] Federal Reserve's Goolsby stated that the 3% inflation rate is not good enough and has not reached the established target. He emphasized that further interest rate cuts require progress in inflation.

4. [Bank of England] Bank of England Governor Bailey stated that as inflation is returning to the 2% target level on track, an interest rate cut is expected soon.

Plastics and Rubber

1. [PE] On February 24th, Qilu Petrochemical's PE unit status: the old HDPE unit's A line is shut down, B line is under commissioning, the LDPE unit is producing J182B, the new full-density unit is shut down, and the old full-density unit is shut down.

2. [PP] Yangzi Petrochemical's two-phase production line has a total PP capacity of 400,000 tons/year, and all units are currently operating at normal capacity. The ex-factory reference price for F401 fiber grade has decreased by 150 RMB to 6,700 RMB/ton.

3. [EVA] On February 24th, Ningbo Formosa Plastics' EVA ex-factory price increased this week: 7350M is listed at 10,700 RMB/ton, an increase of 200 RMB/ton.

4. [BR] On February 24th, the butadiene rubber market in East China saw price increases, with traders raising offers by 150-250 RMB/ton, but market transactions remained somewhat cautious. Currently, the mainstream price for butadiene rubber from Daqing, Yangzi, and Qilu is 13,050-13,200 RMB/ton; some private brands are quoting around 12,900-13,050 RMB/ton.

5. [SBR] On February 24th, the price of styrene-butadiene rubber in East China rose, with spot traders raising their offers by 150-250 RMB/ton. Currently, the mainstream price for styrene-butadiene rubber 1502 from Fushun, Jilin Chemical, Qilu, Weitai, Yibang, and Lanzhou Chemical is 13,300-13,400 RMB/ton.

6. [Natural rubber] On February 24th, the price of natural rubber raw materials in Thailand rose: smoked sheet was quoted at 68.75 baht/kg, up 0.75 baht/kg; latex was quoted at 67.00 baht/kg, up 1.00 baht/kg; cup lump was quoted at 58.00 baht/kg, up 0.50 baht/kg.

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