Macroeconomics

1. [PPI] National Bureau of Statistics: In July 2026, the national producer price index (PPI) for manufactured goods rose by 3.5% year-on-year and fell by 0.7% month-on-month. Producer purchase prices rose by 5.5% year-on-year and fell by 1.0% month-on-month. For the January–July period, producer prices for manufactured goods rose by 1.8% year-on-year, while producer purchase prices rose by 2.8%.

2. [CPI] National Bureau of Statistics: In July 2026, the national consumer price index (CPI) rose by 0.5% year-on-year; for the January–July period, the national CPI rose by 0.9% year-on-year. In July, the national CPI fell by 0.1% month-on-month.

3. [Import & Export] Customs data shows that in the first seven months of 2026, China's foreign trade in goods maintained a strong growth momentum, with the total value reaching 30.13 trillion RMB—a year-on-year increase of 17.3%. Of this total, exports amounted to 17.44 trillion RMB (up 14%) and imports to 12.69 trillion RMB (up 22%); the growth rate of imports continued to outpace that of exports.

4. [Excavators] According to the latest statistics from the China Construction Machinery Industry Association, 19,521 excavators of various types were sold in July 2026, a year-on-year increase of 13.9%. Domestic sales totaled 7,608 units (including 41 electric excavators), up 4.13% year-on-year, while exports reached 11,913 units (including 62 electric excavators), up 21.2%. Cumulative sales for the January–July period totaled 171,841 units, a year-on-year rise of 24.8%; domestic sales reached 86,633 units (up 18.8%), and exports totaled 85,208 units (up 31.7%).

5. [US Non-Farm Payrolls] Data shows that US non-farm payrolls fell by 23,000 in July, whereas the market had anticipated an increase of approximately 80,000. Employment figures for the preceding two months were also significantly revised downward: the gain for May was adjusted from 129,000 to 63,000, and the gain for June was adjusted from 57,000 to 20,000—representing a combined downward revision of 103,000 jobs over the two-month period.

Non-ferrous Metals

1. [Germanium] The Wusihe germanium mineral was approved by the International Mineralogical Association in August 2026, becoming my country's first independent germanate mineral. With an average germanium oxide content of 72%, it is the third germanium-rich mineral identified in the mining area and holds significant importance for research into germanium enrichment mechanisms.

2. [Aluminum] Guinea has signed an agreement with the state-owned enterprise Nimba Mining to independently conduct bauxite mining and sales. The initiative aims to boost value-added returns by expanding into alumina and aluminum product processing, strengthen oversight of mining revenues, and advance the "Simandou 2040" industrialization goals.

3. [Zinc] It is reported that mine maintenance in some domestic regions concluded in August, leading to an expected month-on-month increase in output; however, given recent frequent disruptions to domestic ore supplies and production halts at certain mines due to various reasons, the growth in domestic zinc concentrate production for August is expected to be limited.

4. [Gold] China's gold reserves stood at 76.08 million ounces (approximately 2,366.353 tonnes) at the end of July, an increase of 640,000 ounces (approximately 19.91 tonnes) from the previous month. The People's Bank of China has increased its gold holdings for 21 consecutive months.

5. [Copper Ore and Concentrate] Imports of copper ore and concentrate totaled 2.379 million tonnes in July 2026; cumulative imports for January–July reached 16.985 million tonnes, down 1.8% year-on-year.

6. [Copper Products] Imports of unwrought copper and copper products totaled 425,000 tonnes in July 2026; cumulative imports for January–July reached 2.915 million tonnes, down 6.2% year-on-year.

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