Macroeconomics

1. [Foreign Exchange Reserves] According to statistics released by the State Administration of Foreign Exchange, as of the end of April 2026, my country's foreign exchange reserves stood at US$3,410.5 billion—an increase of US$68.4 billion from the end of March, representing a growth of 2.05%.

2. [Shipping] The Ministry of Natural Resources announced that during the first quarter, the marine shipbuilding industry demonstrated strong growth momentum. All three key indicators—new orders received for marine vessels, vessels completed, and vessels on order (backlog)—saw comprehensive increases. Compared to the same period last year, these figures rose by 116.7%, 33.3%, and 30.0%, respectively, with China maintaining its position as the global leader in international market share.

3. [Automobiles] Data released by the China Automobile Dealers Association indicates that the Automobile Consumption Index for April stood at 80.8, showing a slight month-on-month improvement. It is projected that overall vehicle sales in May will see a significant increase compared to April.

4. [U.S. Tariffs] On May 7, the U.S. Court of International Trade issued a ruling declaring that the legal basis for a policy imposing a 10% global import tariff was invalid. On February 20, President Trump had announced—pursuant to Section 122 of the *Trade Act of 1974*—the imposition of a "10% global tariff on all countries" for a period of 150 days, intended to replace tariffs that had previously been ruled unlawful by the Supreme Court.

5. [U.S. Initial Jobless Claims] Data released by the U.S. Department of Labor on Thursday showed that for the week ending May 2, initial jobless claims rose by 10,000 to a total of 200,000—coming in below market expectations of 205,000. Meanwhile, continuing jobless claims fell to 1.77 million in the preceding week, marking a two-year low.

Energy

1. [Crude Oil] On May 7, international crude oil futures closed lower. The settlement price for the July contract of U.S. WTI crude oil futures was US$94.81 per barrel, down US$0.27 (or 0.3%). The settlement price for the July contract of Brent crude oil futures was US$100.06 per barrel, down US$1.21 (or 1.2%).

2. [Crude Oil] U.S. Energy Secretary Chris Wright stated on Thursday that Iran appears to have cut its oil production by 400,000 barrels per day, and with its oil storage facilities reaching full capacity, production could decline further.

3. [Crude Oil] On the 7th, the South Korean government announced that it would extend measures prohibiting the hoarding and monopolization of petroleum products for another two months, until the end of July. This move aims to address supply shortages resulting from the conflict in the Middle East and to stabilize domestic prices.

4. [Refined Oil] The current window for domestic refined oil price adjustments opened at 24:00 on May 8; retail prices for refined oil products are set to increase.

5. [Coking Coal] On May 7, online auction prices for coking coal in the Changzhi Qinyuan market rose. Low-sulfur lean prime coking coal (specifications: A8, S0.5, G65) opened at a starting bid of 1,450 RMB per ton. The average成交 price reached 1,532 RMB per ton, with a total volume of 30,000 tons traded—an increase of 35 RMB per ton compared to the previous auction on April 28. All figures represent ex-factory prices, cash terms, inclusive of tax.

6. [Petroleum Coke] On May 7, Yaton Petrochemical quoted its petroleum coke at 1,860 RMB per ton, an increase of 40 RMB per ton from the previous trading day. The product features a sulfur content of 3.6%; the facility utilizes a delayed coking unit with an annual capacity of 1.2 million tons and produces 850 tons daily.

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