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.

Народный банк Китая оставил годовую и пятилетнюю базовые ставки по кредитам (LPR) без изменений на уровне 3% и 3,5% соответственно, что стало 13-м месяцем подряд без изменений.