1. According to Mysteel, the output of construction steel in the Beijing-Tianjin-Hebei region increased slightly last week, with total rebar output rising 1.92% week-on-week. However, downstream demand remained weak, and steel mill inventories rose 1.59% week-on-week. Currently, there are no plans for new production line shutdowns or restarts in the region, and output is expected to remain stable this week.
2. According to SteelHome, total city inventory this week was 9.6497 million tons, a decrease of 120,000 tons (-1.23%) week-on-week, covering 38 cities and 135 warehouses.
3. Commodity analysis firm LSEG stated that its 2025/26 Brazilian soybean production forecast remains at 180.6 million tons, while its 2025/26 Argentine soybean production forecast has been revised upward by 2% to 49.8 million tons; its 2026/27 US soybean production forecast remains at 120.9 million tons, a 4.3% increase from the previous year.
4. The Malaysian Palm Oil Council (MPOC) stated in a report that crude palm oil prices are expected to remain between RM4,400 and RM4,650 per tonne in July, supported by a tightening supply outlook in Indonesia and rising concerns about El Niño.
5. Mysteel's nationwide survey of all sample oil mills shows that in the 25th week of 2026, domestic soybean crushing volume was 2.5135 million tons, an increase of 123,900 tons from the previous week, but 58,300 tons lower than the estimated crushing volume; the actual operating rate was 69.21%. The estimated crushing volume for the 26th week is 2.2304 million tons, 283,100 tons lower than this week's actual crushing volume.
6. ANZ Bank forecasts Brent crude oil prices at $80 per barrel by the end of the second quarter and anticipates continued downward pressure on oil prices. The reopening of the Strait of Hormuz will alleviate short-term supply shocks but will not restore balance to the oil market; physical supply and demand will remain tight, inventory rebuilding will be slow, and geopolitical risk premiums may persist.
7. Libya's National Oil Corporation: Crude oil production reached 1.44 million barrels per day, the highest level since 2013.
8. Goldman Sachs lowered its year-end gold price forecast by $500, no longer expecting a Federal Reserve rate cut in 2026. Analysts said the downward revision was due to Goldman Sachs economists postponing their expectations for US rate cuts to June and December next year, previously expecting cuts in December 2026 and March 2027, and also due to a reduced forecast for gold ETF inflows.
9. Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially released the nickel ore benchmark price (HMA) for the second half of June 2026. The HMA for the second half of June was: Nickel price at $18,642.33/ton, a decrease of $156.95 from $18,799.29/ton in the first half of June 2026, a drop of 0.83%.
10. Zimbabwean lithium companies jointly applied for a postponement of the concentrate export ban.
