1. The World Steel Association: Global crude steel production fell 0.3% year-on-year in May 2026 to 157.9 million tons. China's crude steel production in May 2026 fell 2.7% year-on-year to 84.36 million tons.
2. The Ejin Horo Banner Mine Safety Supervision Bureau announced that due to significant safety hazards, the Yimin Coal Mine of Inner Mongolia Youheng Coal Co., Ltd., the Sanxing Coal Mine of Ordos Gengtai Coal Co., Ltd., and the Dongbo Coal Mine of Ejin Horo Banner Dongbo Coal Co., Ltd. have been ordered to suspend production for two days for rectification.
3. The Shanxi Energy Regulatory Office, together with the Shanxi Provincial Energy Bureau, organized a meeting for power grid companies and power generation enterprises to discuss peak summer power supply, analyze and assess the power supply and demand situation, fully utilize the power market mechanism, and strengthen the power supply guarantee.
4. On June 22, local time, the Food and Agriculture Organization of the United Nations (FAO) released a global map of high-risk agricultural areas, warning that a new El Niño event may form in the coming weeks, posing a serious threat to global agriculture. Based on risk assessments using satellite imagery data from the past 41 years, the Sahel region, Southern Africa, South Asia, Southeast Asia, the Central American arid corridor, and the Caribbean region were listed as the highest-risk areas, with some farmland and pastures having a greater than 50% probability of drought in the coming months.
5. The Malaysian Ministry of Plantation Industries and Commodities stated that, given the substantial costs of fully upgrading existing blending storage tanks, the government will study the feasibility of implementing B50 biodiesel. The government's long-term plan is to increase biodiesel usage to B30, and the National Biodiesel Program will be expanded in phases to achieve the B30 target for land transport by 2030.
6. Data from the Malaysian Palm Oil Association (MPOA) shows that Malaysian palm oil production is estimated to have increased by 4.76% from June 1-20. Production in East Malaysia decreased by 1.58% month-on-month, while production in West Malaysia increased by 9.98%, Sabah production increased by 0.42%, and Sarawak production decreased by 6.24%.
7. The Shanghai International Energy Exchange (INE) adjusted trading limits, price limits, and margin requirements for crude oil and low-sulfur fuel oil futures contracts. For crude oil futures contracts other than the 2607 contract and newly listed contracts, the maximum daily opening position is 1600 lots, with a price limit of 14%, a margin requirement of 15% for hedging positions, and a margin requirement of 16% for general positions. For low-sulfur fuel oil futures contracts other than the 2607 contract and newly listed contracts, the maximum daily opening position is 6000 lots, with a price limit of 14%, a margin requirement of 15% for hedging positions, and a margin requirement of 16% for general positions.
8. The Shanghai Futures Exchange (SHFE) adjusted trading limits, price limits, and margin requirements for fuel oil futures contracts. The maximum daily opening position for fuel oil futures contracts other than the 2607 contract and subsequent newly listed contracts is 6,000 lots. The daily price limit is 14%, the margin requirement for hedging positions is 15%, and the margin requirement for general positions is 16%.
9. Deutsche Bank: Gold prices are expected to reach $4,300/oz in the third quarter and $4,800/oz in the fourth quarter. If the Federal Reserve raises interest rates, gold prices may fall to $3,800/oz.
10. Norilsk Nickel: Global nickel supply surplus is projected to be approximately 20,000 tons in 2026 and approximately 55,000 tons in 2027. Russian palladium production is expected to resume growth in 2027, reaching approximately 2.7 million ounces, thanks to the gradual increase in contributions from the Chernogorsk deposit.
