The Shanghai Shipping Exchange said China's export container market firmed this week, with freight rising on most routes. On June 26 the Shanghai export container composite freight index was 3,239.64, up 3.8% from the previous reading.

After U.S. forces struck Iran on the 26th, Vice President Vance warned any Iranian resort to violence would be met with force. CENTCOM said the strike on the 26th responded to an attack the previous day on a merchant vessel transiting the Strait of Hormuz; Vance added Iran had signed a ceasefire the U.S. honored and any disputes should be raised directly.

China Merchants Securities says copper is shifting from a cyclical industrial metal to a strategic critical mineral as AI-driven digital infrastructure and global electrification accelerate. Prices remain elevated, with two major exchanges up about 10% YTD. The firm flags three core price drivers: global liquidity, the US‑Iran situation, and supply–demand fundamentals. Near term, watch liquidity tightening and changes in geopolitical risk; medium-to-long term, price direction will hinge on evolving supply‑demand dynamics.