Macro Economic Group - The US November Services PMI is reported at 52.4%, slightly below the expected 52% and down from October's 52.6%. New orders decreased by 3.1 percentage points to 52.9%, while the price index fell by 4.6 percentage points to 65.4%. The employment index is at 48.9%, indicating contraction for the sixth consecutive month [3][4] - The ADP employment data for November shows a decrease of 31,000 jobs, contrary to the expected increase of 5,000 jobs. The previous month's data was revised from an increase of 42,000 to 47,000. This report is significant as it is the last employment data available before the Federal Reserve's meeting on December 10, increasing the likelihood of a rate cut [4] Industry Comprehensive Group - LME copper reached a historical high of $11,500 per ton, with a daily increase of over 3.2%. LME three-month tin rose by 3.45% to $40,385 per ton. The prices of rare earths have rebounded over 5% in the past month, with praseodymium and neodymium oxide prices rising to the range of 595,000-598,000 yuan per ton. The price of tungsten APT has also surpassed 510,000 yuan per ton, with a more than 100% increase in the second half of the year [7] - The overall trend indicates a sustained increase in non-ferrous metal prices, driven by a long-term weakening of the dollar and the competitive pricing of Chinese industrial products in global markets, particularly in developing countries [7] Advanced Manufacturing Group - Recent research indicates a significant supply-demand mismatch for core solvents EC and additive VC, leading to price elasticity. The market is dominated by two companies, which control about 80% of the EC market share, and both have no plans for capacity expansion. The price of EC has risen from 4,300 yuan per ton to 6,200 yuan per ton [10] - The demand for VC has surged, pushing its price above 230,000 yuan per ton, which further constricts the supply of battery-grade EC, exacerbating the shortage. The lack of new capacity and the supply squeeze suggest that EC prices are likely to continue rising [10] Consumer Group - In the duty-free sector, sales growth in Hainan's offshore duty-free market reached double digits in October and November. New duty-free stores have opened in key cities like Xi'an and Changsha, supported by policies that expand eligible consumer groups and product categories [12] - High-end consumption is recovering, with notable performance from leading retailers like Hangzhou Tower and Henglong, which have seen significant revenue growth and improved profitability. This trend is reflected in the high demand for luxury goods and the robust performance of Macau's gaming sector [12]

Group 1 - The core point of the article is that Japan's service sector showed a PMI final value of 51.7 in June, indicating expansion in the industry [1]