[China's First Garrett Coiler Completes Hot Commissioning]

Recently, the Ministry of Housing and Urban-Rural Development and two other departments jointly introduced new policies to orderly promote the existing home sales policy for commercial housing, with newly listed land parcels prioritized for existing home sales and presale projects required to have main structures topped out. Since the new policy took effect, Beijing, Shanghai, Shenzhen, Guangzhou, Xi'an, and other key cities have successively completed their first round of land auctions, with the land auction market showing intensified differentiation and restructured logic. Industry experts interviewed believe that the new policy has changed the criteria by which real estate companies evaluate land acquisitions—location, supporting facilities, floor area ratio, and product adaptability have become key variables determining project success. Real estate companies are shifting from the high-turnover era's "calculating turnover and scale" approach to "calculating individual projects and products." Currently, detailed implementation rules for existing home sales policies in various regions are still being researched and formulated, with some cities expected to release detailed rules in the next one to two months. From the market side, enterprise side, to the policy side, the impact of the new policy on the land market is gradually unfolding.

Peru’s Ministry of Energy and Mines (MINEM) reported molybdenum production of 3,029 tonnes in June 2026, up 6.5% MoM and 5.4% YoY. H1 output totaled 18,777 tonnes, down 4.5% YoY. Sociedad Minera Cerro Verde produced 943 tonnes in June, up 76.1%, while Anglo American Quellaveco produced 479 tonnes, up 25.6%. Southern Peru Copper Corporation’s output declined 16.0% to 1,065 tonnes. Gains at Cerro Verde and Quellaveco supported the monthly rebound, although cumulative supply remained below last year.

In H1 2026, Americas moly supply divergence deepened. Despite stronger mining profits, overall output failed to rebound. While H2 may see recoveries at select large mines, supply elasticity remains constrained. Which operations are dragging on supply, and where will incremental growth emerge? SMM data reveals a market entering a new phase of "stronger margins, diverging production, and concentrated incremental gains."...