SunSirs: Plastics and Rubber Industries Bulk Commodity Intelligence (March 11, 2026)

Macroeconomics

1. [Government Debt] The draft central and local budgets for 2026 proposed by the State Council show a national debt limit of 48,550.8 billion RMB, a local government general debt limit of 18,868.9 billion RMB, and a special debt limit of 44,318.5 billion RMB. The 14th National People's Congress Financial and Economic Committee suggested preventing the repayment risks of special bonds and increasing support for resolving non-standard and "double non-standard" debts.

2. [Imports and Exports] According to customs statistics, in the first two months of this year, my country's total import and export value of goods reached 7.73 trillion RMB, a year-on-year increase of 18.3%. Exports reached 4.62 trillion RMB, an increase of 19.2%; imports reached 3.11 trillion RMB, an increase of 17.1%. In the first two months, my country's imports and exports to the United States totaled 609.71 billion RMB, a decrease of 16.9%; imports and exports to ASEAN and the European Union both increased by about 20%.

Plastics and Rubber

1. [HDPE] As of March 6, 2026, the social sample warehouse inventory of polyethylene was 662,900 tons, a decrease of 10,500 tons from the previous period, a decrease of 1.56% month-on-month, and an increase of 3.47% year-on-year.

2. [BR] On March 10th, Sinopec Northeast Sales Company lowered its butadiene rubber price by 900 RMB/ton: Currently, the ex-factory price of butadiene rubber from Daqing and Jinzhou is 14,900 RMB/ton, with prices increasing in the Northeast warehouse.

3. [SBR] On March 10th, Sinopec Northeast Sales Company lowered its emulsion styrene-butadiene rubber price by 1,400 RMB/ton: Currently, Jilin Chemical's 1502 is quoted at 15,100 RMB/ton, with prices increasing in the Northeast warehouse; Fushun's 1502 is quoted at 15,100 RMB/ton, with prices increasing in the Northeast warehouse.

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