S&P said broad revenue resilience, including robust tariff receipts, should help mitigate the risk of deterioration in the U.S. fiscal position.

Spot palladium rose nearly 3% to $1,219.40/oz.

Zhongfu Shenying Carbon Fiber Co. said its wholly owned unit, Zhongfu Shenying Carbon Fiber Lianyungang Co., has begun trial production on some lines of its planned 30,000 tpa high-performance carbon-fiber project. The project, with planned investment of CNY5.96 bln, started construction in June 2023 and has a designed capacity of 30,000 tpa. The first-phase three production lines have entered trial runs. Using industry benchmark SYT49 (T700)-12K, a single line’s theoretical annual capacity is 3,000 t, so the three lines total 9,000 tpa theoretical capacity.