Macroeconomics

1. [US Core PCE Price Index] The US core Personal Consumption Expenditures (PCE) price index rose 0.2% month-on-month in July, matching the forecast and up from the previous reading of 0.1%. Year-on-year, the US core PCE index rose 3.3%, in line with the forecast and the previous reading.

2. [South Korea Interest Rates] The Bank of Korea raised its benchmark interest rate from 2.75% to 3.00%, marking a rate hike for the second consecutive meeting, in line with market expectations.

Non-Ferrous Metal

1. [Copper] Shanghai Futures Exchange: As of August 26, total copper inventories in the Shanghai region stood at 17,989 tonnes (down 1,148 tonnes from the previous day); Guangdong region inventories were 2,352 tonnes (down 1,200 tonnes); Jiangsu region inventories were 13,876 tonnes (down 1,680 tonnes); and Zhejiang region inventories were 374 tonnes (unchanged). The aggregate total was 34,591 tonnes, a decrease of 4,028 tonnes from the previous day.

2. [Aluminum] International Aluminium Institute: Global alumina production in July 2026 was 12.927 million tonnes, compared to 13.182 million tonnes in the same period last year and a revised figure of 12.513 million tonnes for the previous month. China's alumina production for July is estimated at 7.830 million tonnes, with a revised figure of 7.580 million tonnes for the previous month.

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