Primary aluminium inventories shrink 23,000 mt on week

San Francisco Fed President Daly said further interest-rate hikes may be needed to bring down inflation, adding that a growing number of enterprises are considering price increases. Cleveland Fed President Hammack believes that in the face of demand pressures from artificial intelligence investment, higher interest rates are also needed to combat inflation.

NBS data show Jan–Sep beer output at 28.947 mn kilolitres (-6.0% y/y), including 278.8 万千升 in September (-7.8%), with the decline widening from Q2 on rainy weather and weak on-premise consumption. Brokerage reviews note Q3 beer-sector revenue -4.2% and net profit -12.4%, with only Yanjing growing on both lines. Structurally, Chongqing Brewery's canning rate has risen from 18% (2019) to 26% (2024) as off-premise channels expand — a partial offset for two-piece can and end-stock demand against falling volumes.

Per CPCA, October NEV passenger-car retail was 1.148 mn units (-10% y/y, +6% m/m) for a 67.8% retail penetration; manufacturer NEV wholesale was 1.807 mn units (+12% y/y, +8% m/m) for 68.6% penetration. Note the methodological gap versus CAAM's 64.3% (all vehicles) — cite the source explicitly when quoting.