Forecasts range from +10k to +130k, with a heavy cluster at +75k–+80k (numerous forecasts at +75k). Reuters preview +80k. Prior (June) +57k.

Beijing Economic‑Technological Development Area (Yizhuang) management committee issued a pilot token‑economy support package and will disburse 100 mln yuan a year in model/token/data vouchers. The measures boost R&D for inference‑specific chips and accelerate iteration of advanced packaging, co‑packaged optics, high‑speed optical interconnects and optical communications, and call for system‑level IC architecture innovation to scale compute clusters and establish hardware barriers for low‑cost token mass production. The policy accelerates integration of photonic computing with conventional compute to raise large‑model, massive‑token parallel processing capacity and support large‑scale high‑speed token inference scenarios. It will pilot token‑trading‑based data pricing, support enterprise‑ and individual‑level domain contextual data collection and processing, and encourage bulk production of expert and service digital twins. Procurement subsidies will equal 10% of annual data‑trading value, capped at 1 mln yuan per purchaser.

Market sources said the Democratic Republic of Congo (DRC) issued an administrative directive banning exports of copper concentrates and cobalt concentrates. HUAYOU NICKEL BRAND said the measure targets primary concentrates; its DRC output is crude cobalt hydroxide (an intermediate cobalt product) and electrolytic cathode copper, not concentrates, and it said Chinese firms are likely in similar positions.