Israeli Prime Minister Netanyahu said he has decided to add NIS 350 billion to the defense budget over the next decade, with a large portion earmarked for the air force.

On July 8th, the DR007 rate closed at 1.3829%. It remains to be seen whether this will break the downward trend since June 24th and continue to fluctuate around the policy rate of 1.4%. The central bank achieved a net withdrawal of 278.5 billion yuan that day. -------- Note: Short-term money market rates such as DR007 reflect the abundance of funds in the market. For example, many transactions in financial markets such as the stock and bond markets are essentially leveraged through loans, and the cost of these loans depends on short-term interest rates. DR007 is generally considered the anchor for short-term interest rates in China. The difference between DR007 and the central bank's 7-day reverse repo rate (policy rate) indicates whether there is a shortage of funds in the market. If the DR007 rate is significantly higher than the policy rate, it indicates a shortage of funds, and the central bank may intervene to inject liquidity; conversely, if the DR007 rate is lower, it indicates very ample market liquidity.

1. According to the China Iron and Steel Association (CISA), in late June 2026, key steel enterprises produced a total of 20.24 million tons of crude steel, 19 million tons of pig iron, and 22.18 million tons of steel products. Based on this, it is estimated that the national daily crude steel output for this period was 2.66 million tons, a decrease of 3.6% compared to the previous period; the daily pig iron output was 2.39 million tons, a decrease of 0.1% compared to the previous period; and the daily steel product output was 4.35 million tons, an increase of 2.8% compared to the previous period. 2. According to the latest survey results from Mysteel, as of July 8, the number of coal mines that had resumed production was 98, with a total capacity of 134.95 million tons; the number of coal mines that were shut down on that day was 73, with a total capacity of 95.65 million tons. 3. According to Mysteel, Hebei Iron and Steel Group's first round of inquiries for ferrosilicon in July was 5900 yuan/ton, compared to a June price of 5980 yuan/ton. Hebei Iron and Steel Group's July inquiries for ferrosilicon were also 5900 yuan/ton, compared to a June price of 6100 yuan/ton. 4. A Reuters survey shows that analysts on average expect U.S. soybean ending stocks for 2025/26 to be 338 million bushels, with estimates ranging from 312 million to 350 million bushels. 5. The Shanghai Futures Exchange adjusted the daily price limits and margin requirements for futures contracts related to petroleum asphalt and other commodities. 6. Data from Longzhong Information shows that as of July 8, 2026, China's total methanol port inventory was 446,700 tons, a decrease of 46,500 tons from the previous period. 7. According to JLC, methanol imports in June are estimated at 425,700 tons, a 42.57% increase month-on-month, while July imports are estimated at 750,000 tons, subject to customs data. 8. Yahua Group recently stated during an institutional investor meeting that its existing lithium concentrate inventory is sufficient to guarantee normal domestic lithium salt production needs. 9. Krishan Gopaul, senior analyst for Europe at the World Gold Council, stated that data from the Czech National Bank shows the bank's gold reserves increased by 1.6 tons in June, marking the 40th consecutive month of increases. 10. Recent market rumors suggested that a large alumina plant in Guangxi suffered severe equipment damage due to a natural disaster, resulting in a complete shutdown of its 2.4 million-ton alumina production capacity. Mysteel's on-site verification confirms that the plant's production is currently stable, there is no water accumulation within the plant, and shipments are proceeding normally.