Amazon is providing a mid-summer view of the health of the U.S. consumer economy. The e-commerce giant is projecting new heights for its annual Prime Day sales event, the WSJ’s Sebastian Herrera reports, even as analysts expect broader concerns to weigh on demand in a wavering retail market. The annual summer promotion is an early indicator of shopping patterns for the rest of the year, including the fall holiday season that carries high stakes for the logistics sector. Many shipping executives are forecasting a muted peak season as consumers shift their spending toward services and big retailers focus on burning off excess inventories. U.S. goods imports have been slowing sharply this year, although the decline has stabilized in recent months. Amazon’s growth rate is also sliding as the expansion in online sales during the pandemic cools down and shoppers return to brick-and-mortar stores.

• Amazon Air is reducing the number of its European flights after rapidly ramping up operations over recent years. (Air Cargo News)

The world’s largest automakers are moving deeper into the supply chain for metals to power their electric cars. Volkswagen and Jeep maker Stellantis are taking part in a $1 billion deal set to close in the coming weeks that would create a publicly traded mining company producing nickel and copper. The WSJ’s Amrith Ramkumar reports each automaker is committing $100 million, with mining giant Glencore also putting in $100 million and agreeing to turn the metals into battery-grade material at facilities in Europe and North America. The complicated transaction, which includes work with a special-purpose acquisition company, highlights the urgency of auto industry efforts to secure supplies of crucial metals and the risks they are taking to get there. The head of that SPAC, Artem Volynets, says the Volkswagen and Stellantis agreement to join the transaction “tells you about the scarcity of the material that we will produce.”

• China is seeking to diversify the sources of raw minerals it imports for refining and clean-technology manufacturing. (Nikkei Asia)

Foxconn says it isn’t giving up on a role in India’s prospective semiconductor supply chain. The contract electronics manufacturer dropped its $20 billion collaboration with India-focused metal-and-energy group Vedanta this week, but the WSJ’s Tripti Lahiri and Yang Jie report that Foxconn is looking for new partners and says it still expects India to establish “a robust semiconductor manufacturing ecosystem.” The split between the firms highlights the complicated maneuvering underway as countries and major companies try to restructure global semiconductor supply chains following disruptions in the crucial technology business. India’s manufacturing incentive program sets aside $10 billion to foster the development of a semiconductor and display manufacturing ecosystem. India’s efforts have drawn skepticism, given how expensive it is to set up a foundry and because of India’s reputation for infrastructure issues. Even countries with far deeper pockets, such as China, have struggled to foster homegrown chip expertise.

Canadian fertilizer company Nutrien is curtailing potash production at a plant because the strike at British Columbia ports is limiting export capacity. (WSJ)

Online freight booking platform Freightos is laying off about 13% of its staff after lowering its projected revenue and transactions outlook. (Dow Jones Newswires)

Japan and Australia are at odds over tougher rules Australia is imposing on new liquefied natural gas export terminals. (WSJ)

Maersk took delivery on the world’s first dual-fuel methanol container ship from Hyundai Mipo Shipyard. (Maritime Executive)

Evergreen Marine is buying 24 mid-size container ships with methanol fuel-power capability. (Splash 247)

Indonesia seized an Iranian-flagged tanker after a suspected illegal transfer of crude at sea. (Agence France-Presse)

A U.S. trade panel said American rail-equipment suppliers have been unfairly harmed by imports of cheap parts from China. (Railway Age)

Raft, a London-based provider of technology for freight forwarders, raised $30 million in a Series B funding round. (TechCrunch) 

Daimler Truck raised its revenue and profit outlook for the year. (Reuters)

Charter airline JetOneX parked its four 747 freighters amid a sharp slowdown in air cargo demand. (The Loadstar)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.