SunSirs: Plastics and Rubber Industries Bulk Commodity Intelligence (March 5, 2026)

Macroeconomics

1. [Economic Goals] The Government Work Report outlines the main expected development goals for 2026 as follows: economic growth of 4.5%-5%, with efforts to achieve even better results in practice; an urban surveyed unemployment rate of around 5.5%, with over 12 million new urban jobs created; a consumer price index increase of around 2%; income growth in line with economic growth; a basic balance of international payments; grain output of around 1.4 trillion jin (600 million tons); and a reduction of approximately 3.8% in carbon dioxide emissions per unit of GDP.

2. [US Tariffs] US Treasury Secretary Bessenter stated that Trump plans to raise the global uniform import tariff from 10% to 15% this week, and expects to restore it to the level previously ruled invalid by the Supreme Court in August. After Trump's attempt to impose tariffs based on exceeding legal authority was rejected, he reimposed tariffs under the Trade Act of 1974, which can be in effect for up to 150 days. The US will use this to solidify the legal basis for subsequent tariffs.

3. [US ADP Employment Change] US ADP employment increased by 63,000 in February, the largest increase since November 2025, exceeding expectations of 50,000. The previous month's figure was revised from an increase of 22,000 to 11,000.

4. [Eurozone PP1] Eurozone PP1 fell 2.1% year-on-year in January, below expectations of a 2.7% decline, and the previous month's figure was revised from a 2.1% decline to a 2% decline. Month-on-month, it rose 0.7%, below expectations of a 0.2% increase, and the previous month's figure was a 0.3% decline.

Rubber & Plastics

1. [PS] On March 4th, Zhanjiang Xinzhongmei PS raised its ex-factory price by 300 RMB/ton. Transparent PS 525 was quoted at 9,000 RMB/ton, and 535LF at 8,700 RMB/ton. Actual prices are negotiable.

2. [EPS] On March 4th, Jiangyin Jianlong EPS prices increased by 100 RMB/ton. Ordinary EPS was priced at 10,700 RMB/ton, and flame-retardant EPS at 11,100 RMB/ton.

3. [NBR] Ningbo Shunze's 65,000-ton/year nitrile rubber plant underwent maintenance shutdown starting February 10th, 2026, and will gradually restart operation starting March 3rd, 2026.

4. [Natural Rubber] On March 4th, the price of natural rubber raw materials in Thailand remained stable with a slight increase: Smoked sheet rubber was quoted at 72.50 baht/kg, unchanged; latex was quoted at 69.00 baht/kg, up 0.20 baht/kg; cup lump rubber was quoted at 60.70 baht/kg, unchanged.

5. [Tires] According to a March 4th report from the United States, the US Tire Manufacturers Association (USTMA) released its February 2026 forecast for US tire shipments, projecting a 0.7% increase to 338.9 million tires, higher than the 336.3 million tires in 2025 and 332.7 million tires in 2019. This figure surpasses the record of 337.3 million tires set in 2024.

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