President-elect Donald Trump reaffirms tariff plans on social media, targeting aluminium and steel industries

China’s rebar futures fell below around 432 USD/tonne, the lowest in two months, as weak economic data and the property downturn weighed on demand expectations. May crude steel output dropped 2.7% YoY to 84.35 million tonnes, while slower fixed-asset investment and consumption further pressured sentiment. Steel exports rose 8.8% MoM in May, but Jan–May exports were still down 8.1% YoY amid rising trade barriers.

Around the Dragon Boat Festival, reporters visited Beijing, Shenzhen, and Shanghai and found that viewing numbers and trading volumes for popular new and second-hand housing projects had recovered, while demand for improved housing was released at a faster pace. Experts believe that, against the backdrop of policy support and stabilizing home prices, the property markets in first-tier cities have seen marginal improvements, with their role as a market barometer growing more prominent. This helps boost home buying confidence nationwide, though the strength and sustainability of the subsequent market recovery remain to be seen.

O PBOC manteve as taxas de juro de referência para empréstimos (LPR) a um ano e a cinco anos inalteradas em 3% e 3,5%, respetivamente, marcando 13 meses consecutivos sem alterações.