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Macroeconomics
1. [Fed Interest Rates] The Federal Reserve announced that the Federal Open Market Committee (FOMC) has agreed to maintain the target range to the federal funds rate at 3.5% to 3.75%, marking the fifth consecutive time this year that the Fed has kept rates unchanged.
2. [Automotive] Data released by the CPCA (China Passenger Car Association) shows that from July 1 to 26, national retail sales of passenger cars totaled 1.123 million units, down 18% year-on-year and down 13% compared to the same period last month; cumulative retail sales to the year reached 9.824 million units, a year-on-year decline of 20%. During the same period, retail sales of new energy passenger vehicles totaled 738,000 units, down 2% year-on-year and down 10% compared to the same period last month, with cumulative sales to the year reaching 5.443 million units, down 13% year-on-year. The retail penetration rate of new energy vehicles in the national passenger car market stood at 65.7% from July 1 to 26.
Chemicals
1. [Lithium Carbonate] It is reported that Mutapa Energy Resources, a Zimbabwean state-owned lithium mining company, has secured $300 million in funding from an investment consortium—including Chinese companies—to develop the country's lithium assets.
2. [Adipic Acid] Radici Group recently informed trade unions of its restructuring plan to the Novara plant in northern Italy; the plan entails shutting down the facility's adipic acid production unit.
3. [Polysilicon] According to data from the Silicon sector Branch, domestic polysilicon production in July reached approximately 105,100 tonnes, marking a month-on-month increase of 13.13% and a net rise of about 12,200 tonnes.
4. [Ethylene Glycol] On the morning of July 30, spot contract basis quotes to port-based ethylene glycol (polyester-grade, imported, primarily ethylene-based, minimum order 500 tons) remained firm. The quoted ranges were as follows: +280 to +300 to the current week's contract (delivery by July 31); +270 to +285 to next week's contract (delivery by August 7); and +270 to +272 to the second-half August contract (delivery by August 25), with long-position deals concluded at the latter level.
5. [fluorite] On July 30, the Zhenglan Banner branch of Sinosteel Mining reported stable operations at its fluorite facility; the manufacturer raised its fluorite price by 100 RMB/ton to a range of 3,150–3,200 RMB/ton.
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