SunSirs: Plastics and Rubber Industries Bulk Commodity Intelligence (March 10, 2026)

Macroeconomics

1. [Middle East Situation] Trump stated that the US war against Iran may be over soon. He said the war is essentially over, almost over. Iran has no navy, no communications systems, and no air force. This is "much faster" than his initial estimate of 4 to 5 weeks. Ship traffic in the Strait of Hormuz is increasing, and he is considering taking control of the strait.

2. [European Interest Rates] Soaring energy prices are reshaping European interest rate trading. The interest rate swap market has priced in two 25-basis-point rate hikes by the European Central Bank this year, whereas last week the market only anticipated one hike. The money market is pricing in a 15-basis-point rate hike by the Bank of England this year, whereas before the US-Iran conflict, the market expected two 25-basis-point rate cuts by the Bank of England this year.

Plastics and Rubber

1. [PP] Anqing Petrochemical's PP production unit, with a single line capacity of 300,000 tons/year, was completely shut down on January 9th, and the restart plan has been postponed to March 16th. Currently, supply is limited, and spot trading is moderate, with prices fluctuating according to market conditions.

2. [SBR] On March 9th, Sinopec raised its styrene-butadiene rubber ex-factory price by around 2500 RMB/ton, with Qilu 1502/1502E quoted at 17,000 RMB/ton ex-factory (including tax).

3. [BR] On March 9th, Sinopec Sales Company raised its butadiene rubber ex-factory price by 2000 RMB/ton, with Qilu butadiene rubber quoted at 16,300 RMB/ton.

4. [Natural Rubber] On March 9, the market price of natural rubber raw materials in Thailand remained stable with a slight increase: smoked sheet was quoted at 72.50 baht/kg, unchanged; latex was quoted at 69.50 baht/kg, up 0.50 baht/kg; cup lump was quoted at 60.70 baht/kg, unchanged.

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