SHFE Cast Aluminum Alloy Warrants Decrease by 575 mt, Total at 39,224 mt on June 5

According to data released by the China Passenger Car Association (CPCA), the overall passenger car market in May showed a certain sales trend: total retail sales reached 1.545 million units, down 20% YoY but up 12% MoM. Breaking it down, the new energy segment also performed notably, with retail sales reaching 974,000 units, down 5% YoY but up 15% MoM.

News has emerged that the first internal memo from the US Fed’s new chair, Warsh, has been leaked. In the memo, he pledges to uphold the “finest traditions of the US Fed” while also clearly expressing a desire for change. According to several former senior US Fed officials, Warsh is expected to gradually abolish the current forward guidance rules on interest rates and remove language from policy decision statements that hints at the direction of future interest rate hikes or cuts. Additionally, Warsh has appointed two conservative policy figures as transition advisors, one of whom previously proposed a “complete overhaul of the US Fed.”

The China Society of Automotive Engineers predicts that by 2030, NEVs will account for over 70% of new passenger car sales in China. Meanwhile, China's overseas vehicle sales will approach 10 million units, with about 40% of these sales coming from localized production and sales outside China.