SunSirs: Non-Ferrous Metal Products Industries Bulk Commodity Intelligence (July 8, 2026)
July 09 2026 11:07:51 SunSirs (John)
Macroeconomics
1. [Foreign Exchange Reserves] Statistics from the State Administration of Foreign Exchange show that as of the end of June 2026, China's foreign exchange reserves stood at $3.4163 trillion, a decrease of $26 billion (or 0.75%) from the end of May.
2. [US ADP Employment] US ADP employment increased by 21,000 last week, compared to a previous figure of 30,750.
Non-ferrous Metals
1. [Aluminum] Chinalco: Spot prices for aluminum ingots (AL99.70) across various regions on July 7 were as follows: East China market quoted at 22,940 RMB/ton; South China market at 22,980 RMB/ton; Southwest China market at 22,920 RMB/ton; and Central China market at 22,930 RMB/ton. These figures represent increases of 100 RMB/ton, 90 RMB/ton, 90 RMB/ton, and 80 RMB/ton, respectively, compared to the prices on July 6.
2. [Gold] Data from the central bank shows that China's gold reserves stood at 75.44 million ounces (approximately 2,346.446 tonnes) at the end of June, an increase of 480,000 ounces (approximately 14.93 tonnes) from the previous month. Reserves at the end of May were 74.96 million ounces (approximately 2,331.52 tonnes), marking the 20th consecutive month of gold accumulation.
3. [Copper] On July 7, BHP confirmed it had received approval from Chile's Antofagasta Environmental Assessment Commission to launch the first phase of the $15 billion expansion project for the Escondida copper mine, which is known as the world's largest copper mine.
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