Macroeconomics

1. [PMI] Data from the National Bureau of Statistics shows that in July, the manufacturing Purchasing Managers' Index (PMI) stood at 49.2%, down 1.1 percentage points from the previous month, indicating a pullback in business activity. The non-manufacturing business activity index was 49.0%, down 1.2 percentage points month-on-month, reflecting a decline in non-manufacturing business sentiment. The composite PMI output index was 49.3%, down 1.3 percentage points, signaling a slowdown in production and business operations across Chinese enterprises compared to the previous month.

2. [Low-Carbon Development Plan] The Ministry of Industry and Information Technology (MIIT) issued the "15th Five-Year Plan for Green and Low-Carbon Industrial Development." The plan targets further optimization of industrial and energy-consumption structures by 2030, aiming for peak carbon dioxide emissions in the industrial sector, steady improvements in energy and resource efficiency, a significant rise in the share of green energy usage, a more robust green manufacturing and service system, and consolidated competitive advantages for green, low-carbon industries.

3. [US Mineral Measures] On Thursday, Trump signed a measure authorizing the government to impose export restrictions on certain industrial wastes under the Defense Production Act, aiming to retain the critical minerals and rare elements contained within them. This move marks the latest action by the Trump administration to secure the supply of critical minerals. The White House stated that finished US products—such as magnets and lithium-ion batteries—contain substantial amounts of recyclable critical minerals and materials that can be "recovered and reused."

4. [US PCE Price Index] The US core PCE price index rose 0.1% month-on-month in June (compared to a 0.3% rise previously) and increased 3.3% year-on-year (compared to a 3.4% rise previously).

5. [Eurozone Economic Sentiment Index] The Eurozone Economic Sentiment Index for July stood at 96.9, exceeding the expected 96; the previous figure was revised from 95 to 95.4.

6. [Bank of England Interest Rate] The Bank of England maintained its policy interest rate at 3.75% for the fifth consecutive meeting, in line with market expectations.

7. [German CPI] Germany's CPI rose 2.8% year-on-year in July, up from 2.4% in June and reaching a three-month high.

Plastics and Rubber

1. [PE] On July 30, updates regarding Fujian United’s PE units: the 450,000-ton/year full-density Line 1 switched production to grade 8920, while the 450,000-ton/year full-density Line 2 was shut down.

2. [Natural Rubber] On July 30, the natural rubber market in the Qingdao region saw prices consolidating at low levels with minor adjustments to trader quotations. Prevailing quotes for 2024-production Yunbao, Guangken, and Haibao brands ranged from 16,350 to 16,500 RMB/ton; quotes for the 2025-production versions of these brands ranged from 16,450 to 16,600 RMB/ton; and quotes for Vietnamese 3L rubber ranged from 17,650 to 17,750 RMB/ton.

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