SunSirs: Chemical Industries Bulk Commodity Intelligence (June 25, 2026)

Macroeconomics

1. [MLF] The People's Bank of China (PBOC) will conduct a Medium-term Lending Facility (MLF) operation worth 500 billion RMB on June 25. Given that 300 billion RMB of MLF loans are maturing this month, this represents a net injection of 200 billion RMB through the rollover—marking the second consecutive month of increased volume, with the scale of the increase expanding by 100 billion RMB compared to May.

2. [Bank of Japan] Bank of Japan (BOJ) Governor Kazuo Ueda stated that the central bank sees a risk of inflation exceeding its 2% target and reiterated plans to raise interest rates further at an appropriate time; the timing and pace of such adjustments will depend on the impact of the conflict involving Iran and other factors. The BOJ also released a summary of opinions from its June policy meeting, which hinted at the necessity of further rate hikes.

3. [Australia CPI] Australia's core CPI rose by 3.6% year-on-year and 0.4% month-on-month in May. Both figures exceeded market expectations, reinforcing the view that the Reserve Bank of Australia (RBA) will maintain a hawkish stance.

Chemicals

1. [Lithium Carbonate] Quanzhou Jintong Xuneng New Energy Co., Ltd. plans to build a new project with an annual capacity of 30,000 tons of lithium carbonate, featuring an annual capacity of 94,752 tons of anhydrous sodium sulfate as a by-product.

2. [Lithium Carbonate] On June 23, Zangge Mining announced the official launch of a technical upgrade project to recover lithium ions from lithium-precipitation mother liquor; the project aims to add 2,000 tons of annual battery-grade lithium carbonate capacity without consuming additional salt lake brine.

3. [Lithium Carbonate] On June 23, Yongxing Materials announced that its holding subsidiary, Yifeng County Huaqiao Yongtuo Mining Co., Ltd., and the latter's wholly-owned subsidiary, Yifeng County Huaqiao Mining Co., Ltd., had signed a capital increase and cooperation agreement with Yichun Shengyuan Lithium Industry Co., Ltd. Upon completion of the transaction, Huaqiao Mining will hold rights to both the Huashan and Jinzifeng mines and will apply to merge the mining rights to organize unified mining operations.

4. [Batteries] Shengquan Group recently announced that a core project funded by its capital raise is being established at the Diaozhen Chemical Industrial Park in Jinan, Shandong Province, with a total investment of approximately RMB 2.5 billion. Upon completion, the project will add an annual production capacity of 10,000 tons of silicon-carbon anode materials and 15,000 tons of porous carbon; a portion of the porous carbon will serve directly as a key raw material for the production of the silicon-carbon anodes.

5. [Ethylene] The core flagship unit of the Sino-Saudi Gulei Ethylene Project—an ethylene unit with a maximum annual capacity of 1.8 million tons—recently passed its high-standard intermediate handover and commenced integrated trial runs, marking the project's entry into the final sprint toward feedstock commissioning.

6. [Phosphate Rock] Yunnan Yuntianhua Polyphosphate New Materials Co., Ltd., an associate company of Yuntianhua, plans to invest a total of RMB 8.169 billion to construct a phosphate rock mining project with an annual capacity of 10 million tons.

7. [Methanol] On June 24, Mingquan Group (formerly Shandong Mingshui) lowered its methanol quote by 50 RMB/ton to 2,980 RMB/ton (ex-works, spot payment). Its 600,000-tonne coal-to-methanol unit was shut down for maintenance on May 23 and is expected to resume operations on June 26.

8. [BDO] Xinjiang Lanshan Tunhe BDO settlement prices for June 2026: 7,890 RMB/ton for East China and 8,090 RMB/ton for South China; listed prices for July 2026: 7,900 RMB/ton for East China and 8,100 RMB/ton for South China. The Phase I unit (100,000 tonnes) is currently shut down, while the Phase II and Phase III units (104,000 tonnes each) are operating stably.

9. [Styrene] On June 25, Lihuayi Weiyuan Chemical Co., Ltd. quoted styrene at 7,600 RMB/ton, a decrease of 150 RMB/ton from the previous trading day.

10. [Caustic Soda] China's liquid caustic soda imports in May 2026 totaled 19.9 tonnes, down 11.9% year-on-year and 56.5% month-on-month. Total imports from January to May 2026 were 170.8 tonnes, up 27.9% year-on-year. Exports in May 2026 totaled 312,902.4 tonnes, up 22.3% year-on-year and down 29.4% month-on-month. Total exports from January to May 2026 were 1,605,963.7 tonnes, up 12.3% year-on-year.

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