China July RatingDog manufacturing PMI eased to 50.9 from 51.7 previously, remaining above the 50 expansion threshold.

Japan cut its holdings of US Treasuries by $96 billion over the past three months, trimming holdings to $1.14 trillion — the lowest level since April 2025.

China's domestic futures main contracts opened mostly lower. Plastics' month-to-date average fell over 5%; fuel oil down nearly 4%; SC crude futures down more than 3%; iron ore down nearly 3%. Ethylene glycol, styrene and lithium carbonate declined over 2%; benzene fell about 2%; low-sulfur fuel oil (LU) down over 1%. On the upside, polysilicon rose more than 2%; p-xylene, propylene, PTA and polypropylene month-to-date averages were up over 1%; short fiber, Shanghai zinc and Shanghai tin gained roughly 1%.