Macroeconomics

1. [Automotive] Data from the CPCA (China Passenger Car Association) shows that retail sales of passenger vehicles in China totaled 1.461 million units in July, down 20.9% year-on-year. Of this total, retail sales of new energy vehicles (NEVs) reached 951,000 units (down 3.9% year-on-year, with a market penetration rate of 65.1%), while retail sales of conventional internal combustion engine vehicles stood at 510,000 units (down 41% year-on-year). Exports of new energy passenger vehicles in July totaled 540,000 units, a year-on-year increase of 147.8%.

2. [Australian Interest Rates] The Reserve Bank of Australia (RBA) announced on the 11th that it would keep the benchmark interest rate unchanged at 4.35%, in line with market expectations. While the RBA maintained the rate, it warned that inflationary risks persist.

Plastics and Rubber

1. [PE] On August 11, Maoming Petrochemical’s PE unit operations saw the following adjustments: the No. 1 LDPE unit switched production to grade 951-000, and the No. 2 LDPE unit switched to grade 2520D; the full-density unit started up to produce F181ZR; and the HDPE unit produced 5502LW. Maoming Petrochemical (South China Branch) quoted LDPE 2426H at 10,350 RMB/tonne, an increase of 50 RMB/tonne.

2. [SBR] On August 11, the SBR market in Southwest China saw a slight upward trend, with traders raising their offers; mainstream quotes for Qilu 1502 stood at 14,000 RMB/tonne.

3. [BR] On August 11, the BR (polybutadiene rubber) market in Northwest China edged higher, with traders increasing their offers. Currently, mainstream quotes for BR from producers such as Sichuan and Dushanzi range from 13,300 to 13,400 RMB/tonne.

4. [Natural Rubber] On August 11, the natural rubber market in Qingdao remained at a high level, with trader quotes holding steady. Mainstream quotes for 2024-production Yunbao/Guangkeng/Haibao rubber were 16,850–17,000 RMB/tonne; 2025-production Yunbao/Guangkeng/Haibao rubber was quoted at 17,050–17,200 RMB/tonne; and Vietnam 3L rubber was quoted at 18,150–18,350 RMB/tonne.

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