Macroeconomics

1. [Fed Interest Rates] The Federal Reserve announced that the Federal Open Market Committee (FOMC) has agreed to maintain the target range for the federal funds rate at 3.5% to 3.75%, marking the fifth consecutive time this year that the Fed has kept rates unchanged.

2. [Automotive] Data released by the CPCA (China Passenger Car Association) shows that from July 1 to 26, national retail sales of passenger cars totaled 1.123 million units, down 18% year-on-year and down 13% compared to the same period last month; cumulative retail sales for the year reached 9.824 million units, a year-on-year decline of 20%. During the same period, retail sales of new energy passenger vehicles totaled 738,000 units, down 2% year-on-year and down 10% compared to the same period last month, with cumulative sales for the year reaching 5.443 million units, down 13% year-on-year. The retail penetration rate of new energy vehicles in the national passenger car market stood at 65.7% from July 1 to 26.

Textile

1. [PTA] Yisheng Petrochemical has announced its August PTA contract list price at 6,000 RMB/ton.

2. [Vinyl cyanide] On July 29, Lihuayi Lijin Refining & Chemical's 260,000-tonne/year Vinyl cyanide] unit was shut down for maintenance for approximately five days due to a malfunction; shipments of Vinyl cyanide] products have been suspended.

3. [Vinyl cyanide]] Statistics indicate that as of July 29, total domestic Vinyl cyanide] plant inventories stood at approximately 36,300 tonnes, a decrease of 3,000 tonnes compared to the previous week.

4. [Cotton Lint] China Cotton Reserve Management Co., Ltd. has scheduled the sale of 8,000.1240 tonnes (comprising 31 lots) of central reserve cotton via the National Cotton Exchange Market on July 30.

5. [Cotton Lint] According to export data released by Brazil's Secretariat of Foreign Trade (Secex), Brazil exported 127,650 tonnes of cotton during the first four weeks of July. The daily average export volume was 7,090 tonnes, representing a 28% increase over the daily average of 5,530 tonnes recorded for the entire month of July 2024 (total exports for July 2024 were 127,250 tonnes).

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.