[SMM Steel Market Morning News] Strictly prevent "rat race" competition from spilling over; anti-rat race governance efforts continue to deepen

★MACRO★

01 ★★★ [Trump: "Major Announcement" on Russia to Be Issued Next Monday]

According to CCTV News, US President Trump revealed on July 10 that he will make a "major announcement" on Russia next Monday (local time July 14). During a phone interview with US media that day, Trump stated that the recent escalation of Russian airstrikes in Ukraine has left him "disappointed" with Russian President Putin, describing Putin as "polite in words but lacking substance."

02 ★★ [Trump Announces 15% or 20% "Uniform Tariff" on Trading Partners Without Tariff Letters]

According to CCTV News, US President Trump stated during a phone interview with US media on July 10 that he plans to impose a uniform tariff of either 15% or 20% on nearly all trading partners that have not yet received tariff hike notices. Trump said: "We will impose tariffs on all remaining countries, whether it's 15% or 20%, and we are working on that."

03 ★★ [Trump: 35% Tariff on Canadian Imports Effective August 1]

According to CCTV News, US President Trump announced on July 10 that a 35% tariff will be imposed on goods imported from Canada starting August 1.
On July 7, Trump sent the first batch of tariff letters to 14 countries including Japan and South Korea, with tariff rates ranging from 25% to 40%. He also indicated that more such letters would be sent this week. On the morning of July 9, Trump sent letters to leaders of six more countries, notifying them of new tariffs on their exports to the US. Additionally, on July 9, Trump posted a letter on the social media platform "Truth Social" regarding tariff hikes on Brazil, stating that the US will impose a 50% tariff on all Brazilian products starting August 1, 2025.

★INDUSTRY & DOWNSTREAM★

01 ★★★ CAAM: Strictly Prevent "Rat Race Competition Spillover," Anti-Internal Competition Governance Continues to Deepen

Fu Bingfeng, Executive Vice President and Secretary General of CAAM, stated at the 2025 China Auto Forum that to strictly prevent "rat race competition spillover," CAAM is taking measures to encourage companies to respect local cultures and laws during their global expansion, ensuring orderly growth. Recent progress has been made in anti-internal competition efforts, with leading industry players actively strengthening self-discipline. "The governance of anti-internal competition continues to deepen. We will further improve long-term mechanisms, gather positive energy from the industry, and jointly create a healthy and harmonious industrial development ecosystem," Fu said.

02 ★★★ [NEV Sales Share Expected to Exceed 50%]

On July 11, Fu Bingfeng, Executive Vice President and Secretary General of CAAM, stated that NEV sales this year are projected to reach 16 million units, with NEVs expected to account for over 50% of new car sales.

★OTHER HOT TOPICS★

⭕On July 10, Panhua Group and Nanjing Steel reached a strategic cooperation agreement. The two parties formally reached comprehensive cooperation consensus on supply chain services, production operation management, and steel trade for Panhua Group's 10-million-mt integrated steel project in the Philippines.

⭕On July 9, the heating furnace and solution furnace projects of the stainless steel medium-thickness plates project at Fujian Qingtuo Special Steel, contracted by MCC Jingcheng Phoenix Furnace, successfully completed hot testing.

⭕On July 4, Vietnam issued an affirmative final ruling on anti-dumping duties against HRC from China, imposing anti-dumping duties of 23.10%-27.83% on the involved products. The measures took effect on July 6, 2025, and will remain valid for five years.

⭕On July 11, data released by the Shenzhen Housing and Construction Bureau showed that as of July 9, 33 commercial housing projects are planned for market entry in Q3 2025 in Shenzhen, with an expected supply of 1,351,241.78 m² (12,351 units).

⭕In June, US container imports rose to 2.218 million TEUs, up 1.8% MoM but down 3.5% YoY, indicating stabilization after a sharp decline in May. Congestion at main US ports significantly improved, reflecting eased pressure after temporary bottlenecks in May.

⭕[Roof Collapse Accident at Ningxia Mine Leaves 1 Dead] According to the Wuzhong Emergency Management Bureau, at around 19:56 on July 12, 2025, a roof collapse occurred at the Yong'an Mine operated by Ningxia Power Mining Co., trapping five miners underground. As of 02:30 on July 13, three had been rescued—two in stable condition and one who died after failed resuscitation—while the remaining two were still being searched for. The cause of the accident is under further investigation.