Macroeconomics

1. [Automobiles] Data from the China Association of Automobile Manufacturers (CAAM) shows that from January to August this year, my country's automobile production and sales reached 21.051 million and 21.128 million units, respectively, representing year-on-year increases of 12.7% and 12.6%, respectively. Of these, new energy vehicle production and sales reached 9.625 million and 9.62 million units, respectively, representing year-on-year increases of 37.3% and 36.7%, respectively. New energy vehicle sales accounted for 45.5% of total new vehicle sales.

2. [US CPI] The US Bureau of Labor Statistics released the latest data, showing that the US CPI increased by 2.9% year-on-year in August, compared to 2.7% in the previous month, and by 0.4% month-on-month, compared to 0.2% in the previous month. The core CPI increased by 3.1% year-on-year, compared to 3.1% in the previous month.

3. [ECB Interest Rates] The ECB decided to maintain the eurozone's three key interest rates unchanged: the deposit rate at 2%, the main refinancing rate at 2.15%, and the marginal lending rate at 2.4%.

4. [Turkey Interest Rate Cut] On September 11th, local time, the Central Bank of Turkey announced that its Monetary Policy Committee decided to lower the benchmark interest rate by 250 basis points from 43% to 40.5%.

Energy

1. [Crude Oil] On September 11th, international crude oil futures closed lower. The October contract for U.S. West Texas Intermediate (WTI) crude oil futures settled at $62.37 per barrel, down $1.30, or 2.0%. The November contract for Brent crude oil futures settled at $66.37 per barrel, down $1.12, or 1.7%.

2. [Crude Oil] The IEA raised its forecast for global oil supply growth in 2025 to 2.7 million barrels per day (bpd) from 2.5 million bpd previously, and also raised its forecast for oil demand growth from 680,000 bpd to 740,000 bpd. 3. [Crude Oil] OPEC's monthly report maintains its forecast for global crude oil demand growth in 2025 at 105.14 million barrels per day (bpd); global crude oil demand is projected to reach 107.67 million bpd in 2026.

4. [Crude Oil] OPEC's monthly report shows that OPEC+ crude oil production averaged 42.4 million bpd in August, an increase of 509,000 bpd from July, following OPEC+ increased crude oil production.

5. [LPG] On September 11, Shandong Jincheng Petrochemical Group Co., Ltd. lowered its latest liquefied gas price by 60 RMB/ton to 4,480 RMB/ton. Daily production is approximately 200 tons, and inventories are low.

6. [Petroleum Coke] On September 11, Zibo Xintai Petrochemical Co., Ltd. quoted petroleum coke at 2,100 RMB/ton, up 50 RMB/ton from the previous trading day. The sulfur content was 3.5, the volatility was 9.5, the ash content was 0.2, and the coking plant produced 500 tons of petroleum coke per day. The company's shipments were normal.

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