Jiuquan Iron & Steel to Restart 2 Million-tpy Alumina Capacity in Jamaica

A University of Michigan survey showed that the preliminary US consumer sentiment index for June rose to 48.9 from a record low of 44.8 in May, marking the first rebound in nearly four months, though still at a historically low level. Thanks to the recent pullback in oil prices, consumers' one-year inflation expectations pulled back from 4.8% to 4.6%.

A senior US government official disclosed that the US side holds "quite high" confidence in signing a memorandum of understanding with Iran within the coming days, with the specific confidence level between "80% and 85%". Additionally, the official stated that the US side is confident Israel will support this MoU between the US and Iran. Iranian Foreign Minister Araghchi said, however, that once the two sides complete the final stage of negotiations, the MoU will be signed and announced immediately. In particular, the first stage of the signing will be conducted electronically and remotely, a process expected to be completed within the coming days. Araghchi added that Iran will charge fees for services related to the Strait of Hormuz.

Official Iranian media disclosed the specific contents of a draft 14-point memorandum of understanding between the US and Iran, covering clauses including the US commitment to lifting sanctions, withdrawing troops from around Iran, ending the maritime blockade, opening the Strait of Hormuz, and unfreezing Iran's frozen assets. However, the draft did not involve Iran's missile plan or nuclear-related agreements. Pakistani Prime Minister Sharif Shehbaz stated that the US and Iran had already reached consensus on the text of a peace agreement. Iranian Foreign Minister Amir-Abdollahian Hossein said that the two sides "have never been closer to a memorandum of understanding." However, US President Trump Donald pointed out that the draft US-Iran agreement released by Iranian media was "completely unrelated to the written agreement reached by the two sides" and did not reflect the actual situation.