The latest information on bulk raw materials

2025-11-07 16:13:04

Macro

1. [Federal Reserve] Fed Chairman Powell said that the current economic situation is highly uncertain and hopes to base it on actual data rather than make overconfident predictions; he does not want to provide too much forward guidance; the US economy is performing better than other countries, which means that interest rates will be higher than other countries; the Fed will resume cutting interest rates at some point.

2. [Bank of Japan] Bank of Japan hawkish review committee member Naoki Tamura said that even if uncertainty about US tariff policies persists, the Bank of Japan may need to "decisively" raise interest rates to address inflation risks. He pointed out that inflation is accelerating and the speed is faster than he predicted at the monetary policy meeting in May.

3. [Australian CPI] Australia's CPI rose 2.1% year-on-year in May, lower than the 2.3% expected by economists. It has been in the 2%-3% target range set by the central bank for 10 consecutive months, which has significantly increased the market's expectations that the Reserve Bank of Australia will start cutting interest rates next month.

4. [European Automobile] According to the latest data released by the European Automobile Manufacturers Association (ACEA), the EU passenger car market sales increased by 1.6% to 926,581 units in May 2025. However, the cumulative sales volume in the first five months decreased by 0.6% year-on-year.

Energy

1. [Crude oil] On June 25, international crude oil futures closed higher. The settlement price of the August contract of WTI crude oil futures in the United States was US$64.92 per barrel, an increase of US$0.55 or 0.9%. The settlement price of the August contract of Brent crude oil futures was US$767.68 per barrel, an increase of US$0.54 or 0.8%.

2. [Crude oil] The API crude oil inventory in the United States decreased by 4.277 million barrels in the week ending June 20.

3. [Natural gas] China National Offshore Oil Corporation: On June 25, the second phase of the "Deep Sea No. 1", my country's first deepwater high-pressure gas field, was fully put into production.

4. [Coal] It is reported that the operating rate of the sample of 110 coal washing plants across the country decreased by 2.23% to 59.10% this week, and the average daily output was 501,500 tons, a decrease of 8,400 tons from the previous period.

5. [Petroleum coke] On June 25, Shandong Jincheng Petrochemical Group Co., Ltd. quoted sponge coke at 2,900 yuan/ton, up 10 yuan/ton from the previous trading day, sulfur 1.6, and the company's shipments were normal.

Steel

1. [Ferrosilicon] Shaanxi Jinwantong overhauled a 40500 ferrosilicon blast furnace due to a transformer equipment failure, affecting 110 tons of daily production, and the overhaul lasted for one month.

2. [Ferrosilicon] Nangang bid on June 24: 900 tons of ferrosilicon, registration deadline: 2025-6-26 13:30, required delivery date: 2025-7-31.

3. [Galvanized sheet] On June 25, statistics showed that 154 national galvanized enterprises had a total transaction volume of 15,383 tons, a decrease of 56 tons from the previous trading day, a decrease of 0.36%. The region with the largest decrease was North China, which decreased by 65 tons from the previous trading day, a decrease of 6.48%.

4. [Iron Ore] On June 25, the national main port iron ore transaction volume was 1.077 million tons, a month-on-month increase of 32.5%; 237 mainstream traders traded 93,500 tons of construction steel, a month-on-month increase of 0.3%.

5. [Stainless Steel] From January to May, China's stainless steel imports totaled 718,000 tons and exports totaled 2.11 million tons. In May 2025, China's stainless steel imports were 125,100 tons, a month-on-month decrease of 17,000 tons, a decrease of 12.00%; a year-on-year decrease of 49,300 tons, a decrease of 28.28%.

Chemicals

1. [Phenol] Recently, INEOS Phenol, the world's largest phenol and acetone producer, announced that it plans to permanently stop production at its phenol production base in Gladbeck, Germany.

2. [MDI] It is reported that Tosoh Vietnam Polyurethane Co., Ltd., a subsidiary of Tosoh, is expected to put its 100,000 tons/year MDI distillation separation unit into operation in the spring of 2027.

3. [Chloroform] Dongying Huatai's 160,000 tons/year methane chloride unit will be shut down from June 25, 2025, and the restart time is to be determined.

4. [Methanol] As of June 25, 2025, the total port inventory of methanol in China was 670,500 tons, an increase of 84,100 tons from the previous period. Among them, the East China region accumulated inventory, with an increase of 59,000 tons; the South China region accumulated inventory, with an increase of 25,100 tons.

5. [Potassium chloride] The port potassium chloride inventory in the third week of June 2025 was about 1.887 million tons, a decrease of 14,000 tons from the second week of June, and a decrease of 482,000 tons from the same period last year (excluding bonded).

6. [Phenol] It is reported that the ex-factory settlement price of phenol products of Lihua Yiweiyuan Chemical Co., Ltd. has been reduced by 50 yuan to 6,800 yuan/ton, and this price will be implemented from June 26.

7. [Propylene oxide] On June 26, the propylene oxide unit of Lihua Yiweiyuan Chemical Co., Ltd. was normal, with an ex-factory price of 7,600 yuan/ton, a decrease of 100 yuan/ton from the 25th.

8. [Glacial acetic acid] China's imports of glacial acetic acid in May 2025 were 3.39 tons, an increase of 8,006.64 tons from the previous month, a decrease of 99.96%.

9. [Adipic acid] In May 2025, my country's imports of adipic acid and its salts and esters were 934.798 tons, and the total imports of adipic acid and its salts and esters from January to May were 2,882.308 tons. In May 2025, the export volume of adipic acid and its salts and esters was 60,329.859 tons, and the export volume of adipic acid and its salts and esters from January to May totaled 289,170 tons.

10. [Titanium Dioxide] In May 2025, China imported 7,467.59 tons of titanium dioxide, a year-on-year decrease of 17.78% and a month-on-month increase of 13.36%; of which 4,232.19 tons of titanium dioxide were imported by the chloride process and 3,235.40 tons of titanium dioxide were imported by the sulfuric acid process. From January to May 2025, the cumulative import of titanium dioxide was 34,842.08 tons, a year-on-year decrease of 13.21%; of which 20,047.69 tons of titanium dioxide were imported by the chloride process, a year-on-year decrease of 31.08%, and 14,794.39 tons of titanium dioxide were imported by the sulfuric acid process, a year-on-year increase of 33.84%.