Russian Deputy Prime Minister Novak said Russia has begun shipping its first diesel export cargoes.

PIMCO expects the Federal Reserve to hold rates steady this month and anticipates one to two additional rate hikes in the current tightening cycle.

China's PPI rose 1.2% month-on-month, widening 0.8 percentage point from the prior month, the National Bureau of Statistics said. International crude oil and nonferrous metal price increases were primary drivers: petroleum extraction +14.5%, refined petroleum products manufacturing +7.4%, organic chemical raw materials manufacturing +5.4%, nonferrous metal ore mining +1.6% and nonferrous metal smelting and rolling +1.5% — those five industries together added about 0.63ppt to MoM PPI. Seasonal and supply-side tightening lifted energy and raw-material prices: coal mining and washing +9.5%, coal processing +13.6%; demand recovery for steel and cement and higher input costs pushed non-metallic mineral products to +0.3% (after seven months of declines) and ferrous metal smelting and rolling +0.2% — these four industries contributed roughly 0.38ppt. Faster development in AI and computing-power collaboration raised demand in electrical machinery & equipment and computer, communications and other electronic equipment manufacturing, each +0.4%, together adding about 0.07ppt to MoM PPI.