[SMM Steel Market Morning News] By the end of 2027, we aim to have more than 100,000 large power charging facilities nationwide

★Macro★

01★★ [Four departments including the NDRC: Aim to exceed 100,000 large power charging facilities nationwide by end-2027]

The General Office of the National Development and Reform Commission (NDRC) and three other departments jointly issued the "Notice on Promoting Scientific Planning and Construction of Large Power Charging Facilities". The document proposes to prioritize "charge-and-go" scenarios while considering local economic development levels, NEV promotion efforts, and power resource distribution, adopting a targeted, forward-looking, and scientific approach to large power charging infrastructure development. Provincial departments leading charging infrastructure development should collaborate with relevant authorities to set development goals and construction tasks within charging network planning, formulate specialized plans for large power charging facilities when necessary, and prioritize construction plans for expressway service areas in conjunction with transportation authorities. Priority will be given to upgrading facilities with utilization rates exceeding 40% during major holidays. Planning must adhere to market principles with thorough forecasting and coordination with territorial spatial planning, power distribution grid planning, and transportation planning to achieve synergistic development between large power charging networks and existing charging infrastructure. By the end of 2027, China aims to have over 100,000 large power charging facilities nationwide with upgraded service quality and technological applications.

02 ★★ [SAFE: Foreign exchange reserves maintained stable growth in H1]

According to State Administration of Foreign Exchange (SAFE) statistics, China's foreign exchange reserves reached US$3,317.4 billion as of June 2025, up US$32.2 billion (0.98%) from May. In June 2025, the US dollar index declined amid macro policy adjustments and economic growth outlook changes in major economies, while global financial asset prices generally rose. The combined effects of exchange rate conversions and asset price changes contributed to the reserve increase. China's sustained and steady economic growth maintains favorable momentum for keeping foreign exchange reserves basically stableZ10/>03

 ★★[Trump: Tariff letters to trading partners to be released, rates up to 70%]

Xinhua News Agency reports that US President Trump announced via social media on July 6 local time that the US government will release tariff letters or agreements with trading partners starting at 12:00 PM local time on July 7. Trump previously stated plans to impose up to 70% tariffs on certain countries' goods from August 1.

★Industrial & Downstream★

01 ★★★ [SMM Steel Monthly Shipping: China's 32-port steel exports dip 1% MoM in June]

SMM Steel Shipping data shows China's steel export volume via 32 domestic ports reached 11.5429 million mt in June, down 1% MoM but up 7% YoY.

Among main ports, port departures of steel from Luojing Port reached 951,400 mt in June, down 35% MoM, while Shanghai Port recorded 732,800 mt of steel port departures, down 18% MoM. Ports including Tianjin Xingang, Bayuquan, Jingtang, and Lianyungang all saw varying degrees of increase in port departures.

02 ★★ [Shenzhen Real Estate Intermediary Association: Weekly recorded second-hand housing transactions up 4% WoW, listings hit new high]

According to Shenzhen Real Estate Intermediary Association statistics on July 7, 1,436 second-hand housing units (including self-service transactions) were recorded in Shenzhen during the 27th week of 2025 (June 30-July 6), up 4.2% WoW. This marks the second consecutive weekly increase in recorded transactions, with overall activity maintaining a relatively high level. Publicly available listing data shows 75,169 valid second-hand residential listings were available in Shenzhen as of July 7, 2025, up 1,311 units WoW.

03 ★★ [Report: High-end residential transactions over 10 million yuan in 30 key cities up 18.76% YoY in H1]

CRIC's July 7 report reveals that while cumulative new home sales volume in 30 monitored key cities remained basically flat YoY in H1 2025, transactions of high-end residential properties priced over 10 million yuan surged 18.76% YoY. The report notes YoY growth across nearly all price segments (over 10 million yuan) for both new and existing high-end homes. Only new high-end residential properties priced between 30 million and 50 million yuan experienced a nearly 30% YoY decline due to supply constraints.

04 ★★ [Wuhan sells nearly 100,000 housing units in H1, up 14.8% YoY]

Latest data shows Wuhan recorded 6.1539 million m² of commercial housing net-signed sales area across 96,000 units from January to June 2025, representing a 14.8% YoY increase. June marked the first time monthly new home sales exceeded 10,000 units, with multiple high-quality central city projects achieving "day-light sales," indicating significant market recovery.

05★★[Institution: Global new ship orders down 54% YoY this year]

Clarkson Research statistics indicate global new ship orders have declined 54% YoY year-to-date 2025, with the Clarkson Newbuilding Price Index down 1% YoY. The container ship sector (new orders reaching 1.9 million TEU), cruise ships, and ferries remain active markets, while gas carriers and tanker investments have slowed. New ship deliveries remain stable, with Chinese shipyards accounting for 48% (down from 70% in 2024), Korean yards 31%, and Japanese yards 13% of global orders.

★Other Hot Topics★

⭕[Trump Threatens 10% New Tariff Hike on BRICS Countries, Chinese Foreign Ministry Responds]According to CCTV News, Foreign Ministry spokesperson Mao Ning hosted a regular press conference on July 7, 2025. When asked about the closing BRICS Summit and U.S. President Trump's criticism of BRICS countries pursuing anti-U.S. policies alongside threats to impose a 10% new tariff hike, Mao stated that the BRICS mechanism serves as a vital platform for cooperation among emerging markets and developing countries, advocating openness, inclusiveness, and win-win cooperation without forming bloc confrontations or targeting any specific nation. Regarding tariff hikes, China has repeatedly clarified its position that trade wars and tariff battles yield no winners, and protectionism leads to dead ends.

⭕[Ministry of Water Resources and China Meteorological Administration Issue Yellow Mountain Flood Disaster Meteorological Warning at 18:00 on July 7]The Ministry of Water Resources and China Meteorological Administration jointly issued a yellow mountain flood disaster meteorological warning at 18:00 on July 7, 2025: It is forecasted that from 20:00 on July 7 to 20:00 on July 8, mountain flood disasters may occur in parts of southern Shanxi, eastern Inner Mongolia, eastern Zhejiang, northeastern Sichuan, western Yunnan, and eastern Shaanxi (blue warning). The risk is relatively high in localized areas of eastern Inner Mongolia, eastern Zhejiang, and northeastern Sichuan (yellow warning). Other regions may also experience mountain floods due to localized short-duration heavy rainfall. All localities are urged to strengthen real-time monitoring, flood control warnings, and evacuation preparedness.

⭕[Wuhan: Aims to Secure Over 50 Billion Yuan in Credit for "White List" Projects and Launch 100 New Real Estate Projects This Year]A responsible person from Wuhan's Housing and Urban Update Bureau stated that the city will continue implementing city- and district-specific policies this year to fully unlock the potential of rigid and improved housing demand, consolidating stable market conditions and high-quality development. Measures will include optimizing policy tools for commercial property destocking, housing subsidies for specific groups, and increased supply of high-grade housing. Efforts will continue to promote cross-district trade-in policies, expand development loan allocations, aim to secure over 50 billion yuan in credit for "white list" projects, accelerate "commencement upon land acquisition," and strive to launch 100 new real estate projects for sale this year.

⭕[South Korea Extends Provisional Anti-Dumping Duties on Chinese Hot-Rolled Stainless Steel Plates]South Korea's Ministry of Strategy and Finance announced an extension of the deadline for provisional anti-dumping duties on hot-rolled stainless steel plates (thickness ≥4.75 mm, width ≥600 mm) originating from China from July 24, 2025, to September 4, 2025.