FUNTI's daily electric motorcycle market brief for October 10, 2026: raw material prices, overseas market regulation and China export data, compiled from public sources for importers, distributors and fleet operators.
FUNTI MARKET INTELLIGENCE · October 10, 2026
① Today's Highlights
- Weekend closure, policy silence: this is the first weekend after the holiday, and domestic commodity futures and spot markets as well as the CFETS central parity show no new readings, with 9 October remaining the latest verifiable data; no new two-wheeler export tariff or destination-access official documents were found for 10 October (consolidated public information, 2026-10-10). Takeaway: there is no new policy requiring immediate action this weekend, so use it to align this week's market readings with the material and FX baselines in open quotes ahead of Monday's reopening.
- US jobs data far below expectations: US non-farm payrolls added only 29,000 in September 2026, far below the expected 90,000, with July and August revisions cutting a cumulative ~60,000, pointing to an initial cooling of the labour market (East Money, 2026-10-08). Takeaway: rate-cut expectations are rising and the USD index is under pressure, strengthening the external case for a firm RMB; reset USD settlement ranges and quote validity periods accordingly.
- US refined-copper tariff timing now seen as forked: analysts note that if the tariff is postponed (e.g. to 1 January 2027), the market will keep shipping copper to the US before it takes effect through Q4 and the tight spot market outside the US will persist; if it is imposed or cancelled immediately, prices in each region return to fundamentals (East Money, 2026-10-08) (the tariff observation window was reported on 30 September; this is an update on the expected timing). Takeaway: short-term copper direction depends heavily on this timing, so do not lock in all motor and wiring copper at once—buy in tranches around the event dates.
② Raw Materials & FX
- FX: the RMB/USD central parity was set at 6.7330 on 9 October, 37 pips firmer than 6.7367 on 8 October; there is no new central parity on Saturday 10 October, and the daily bank rate shows Bank of China's 10 October USD spot buying rate at 668.2, selling rate at 671.01 and BOC conversion rate at 673.3 (RMB per 100 USD), with the selling rate down slightly from 9 October (672.19) (PBoC / Bank of China, 2026-10-09 to 10-10). Takeaway: the RMB firmed modestly, so keep USD settlement tested in a 6.72—6.75 range and mark all customer quotes as "subject to the day's central parity".
- Lithium extends its decline: Mysteel's 10 October morning quote was RMB 118,500/t for battery-grade and RMB 116,500/t for industrial-grade, down further from 9 October (119,500 / 117,500); the GFEX lithium carbonate front contract closed at RMB 117,000/t on 9 October, down RMB 4,540 (-3.74%) for the day; SMM's daily review noted battery-grade spot fell RMB 2,600/t on 9 October, with downstream buyers staying cautious after the holiday (Mysteel / SMM / Guangzhou Futures Exchange, 2026-10-09 to 10-10). Takeaway: futures have broken lower while spot and downstream sentiment stay cautious, so keep battery procurement on a weekly rolling basis rather than chasing either direction.
- Aluminium and alumina: LME aluminium touched an intraday low of USD 3,091/t over the National Day holiday, the weakest since early July, down about 1.5% over the break; overseas alumina spot halted its fall and rebounded, with the Platts Western Australia FOB rising from USD 355/t on 30 September to USD 373/t on 2 October, up about 5%; analysts expect the SHFE aluminium front contract to trade in a RMB 23,000—23,800/t range (East Money, 2026-10-08). Takeaway: soft aluminium helps frame and wheel costs, but the alumina rebound caps the downside, so negotiate aluminium parts at the current price rather than betting on a straight-line fall.
- Ferroalloys and zinc: Qingshan and TISCO cut their October ferrochrome tender prices by RMB 200/t month-on-month, the fourth straight monthly decline; LME zinc inventories stood at 127,300 t as of 5 October, up about 3,300 t from before the holiday (East Money, 2026-10-08). Takeaway: cost pressure on stainless and galvanised parts keeps easing, so seek phased price cuts on items using stainless steel or galvanised parts.
- Steel: 10 October is a weekend, with no new spot or futures steel quotes; the latest verifiable reading remains 9 October (SMM China rebar price index 3,136 RMB/t, SunSirs rebar 3,172 RMB/t) (SMM / SunSirs, 2026-10-09). Takeaway: there is no new directional signal for steel this week, so lock usage at the 9 October level and refresh after Monday's reopening.
③ Overseas Markets
- Indonesia's subsidy scheme: under the government's preliminary plan, Indonesia will subsidise 100,000 EVs and 100,000 e-motorcycles from June 2026, to shift energy consumption from fuel to electricity (China.org.cn, 2026-06-04). Takeaway: subsidies flow straight to end users, so volume is highly certain; this is a window before Indonesia shifts from "CBU imports" to "local assembly plus batch supply", and Indonesia deserves priority coverage in Q4.
- Vietnam's market structure: Vietnam has about 80 million motorcycles in total, of which only about 3.2 million are e-motorcycles, roughly a 4% share, while Honda holds about 86% of the market (China.org.cn, 2026-06-04). Takeaway: Vietnam's electrification rate is very low and Japanese brands dominate, so the replacement space is large but channel and brand barriers are high, with the "traffic restrictions plus subsidies" policy window as the main opening.
- Philippine exhibition nears: the 14th Philippine EV show (EVAP 2026) will be held on 22—24 October at the SMX Convention Center in Manila; industry research estimates the Philippine EV market will grow from about USD 3.4 billion in 2025 to about USD 20.57 billion by 2034, a CAGR of about 19%—20% (exhibition materials / industry research, 2026-03). Takeaway: the show is a direct window onto Philippine channels and dealers, so have certification documents and sample-model spec sheets ready beforehand.
- LatAm and Africa check: no new Brazil, Mexico or Africa e-motorcycle import, tariff or subsidy policy documents were found for 10 October; previously reported items such as Brazil's CKD and CBU rate arrangements and Mexico's safety and certification thresholds remain in force with no new official statements (consolidated public information, 2026-10-10). Takeaway: there is no policy variable for LatAm or Africa today, and per-shipment certificate checks remain the first action.
FUNTI · Taizhou Fangxiang Technology Co., Ltd.
Daily electric motorcycle market brief for importers, distributors and fleet operators. Figures are compiled from public market sources and industry associations; verify before commercial use.
