Central China Market Rebounds, Trading Firms Stockpile, Prices Strengthen Against SHFE Aluminum Contracts

On July 10, the Haiyang West-Gaoshang section of the Shandong Yantai-Weihai UHV transmission line project was completed. It is reported that the Yantai-Weihai UHV transmission line project starts at the 1000 kV Haiyang West substation and ends at the 10 kV Gaoxiang substation.The newly built line is 2 × 260.116 kilometers, with 914 towers, passing through 11 counties (districts) in Yantai, Qingdao, Weifang, Rizhao, and Linyi. The line crosses 9 high-speed railways, 18 electrified railways, and 389 10 kV or higher power lines.

Fed Chairman Kevin Warsh made his first congressional testimony since taking office, with the two-day testimony and Q&A sessions covering multiple areas of high market interest. Warsh noted that the June CPI and PPI data showed signs of improvement, but he also stressed that inflation indicators cannot fully and accurately reflect underlying inflation conditions. Warsh expressed a clear zero-tolerance stance on inflation and firmly committed to restoring price stability. Although he did not explicitly indicate a tightening of monetary policy, he mentioned that measures to curb inflation include the option of adjusting interest rates.

According to data released by the China Automotive Power Battery Industry Innovation Alliance, in June, China's total sales of power and ESS batteries reached 196 GWh, up 49.1% YoY. Specifically, power battery sales were 133.4 GWh, up 41.8% YoY, while ESS battery sales were 62.6 GWh, up 67.5% YoY.