1. The Guangzhou Futures Exchange (GZFE) stated that its next step will be to adhere to open collaboration and deepen cross-sector cooperation, based on my country's climate characteristics and industrial realities, to accelerate the research and development of weather derivatives such as temperature index futures and options, which are urgently needed by the market, and to promote weather risk management from pilot exploration to normalized and standardized services.
2. Mysteel data shows that rebar production was 2.2167 million tons, an increase of 5,300 tons; rebar mill inventory was 1.7004 million tons, a decrease of 53,200 tons; rebar social inventory was 4.8467 million tons, a decrease of 52,600 tons; and rebar apparent demand was 2.3225 million tons, a decrease of 95,400 tons.
3. The National Development and Reform Commission (NDRC) convened a video conference to arrange and deploy national energy supply security work during the peak summer season. The meeting required all-out efforts to ensure the safe and stable operation of energy during the peak summer season. It stressed the need to ensure stable power generation and supply, to ensure the production and supply of primary energy sources such as coal and natural gas, to strengthen the transportation guarantee of coal for power generation, and to meet peak power generation demand. It also called for continued efforts to promote the efficient performance of medium- and long-term contracts for electricity, coal, and natural gas.
4. This week, Mysteel's Coal and Coke Division surveyed the profit per ton of coke at 30 independent coking plants nationwide. The national average profit per ton of coke was 66 yuan/ton; the average profit for near-first-grade coke in Shanxi was 69 yuan/ton, in Shandong it was 130 yuan/ton, in Inner Mongolia it was 67 yuan/ton, and in Hebei it was 100 yuan/ton.
5. Indonesian authorities stated that Wilmar International and other palm oil companies are under investigation for allegedly under-invoicing and transfer pricing practices in their export operations.
6. According to foreign media reports, data released by Brazilian shipping agency Williams shows that as of the week ending May 27, the number of ships waiting to load sugar at Brazilian ports was 64, compared to 51 the previous week.
7. According to Longzhong Information, domestic soda ash production this week was 716,000 tons, a decrease of 10,700 tons, or 1.48%, compared to the previous week. Light soda ash production was 345,100 tons, an increase of 13,800 tons compared to the previous week.
8. Enterprise Singapore (ESG): For the week ending May 27, Singapore's fuel oil inventories fell by 797,000 barrels to a two-week low of 20.703 million barrels. Singapore's light distillate fuel oil inventories fell by 260,000 barrels to a 25-week low of 14.618 million barrels. Singapore's middle distillate fuel oil inventories fell by 62,000 barrels to a seven-week low of 8.964 million barrels.
9. According to the Guangzhou Futures Exchange (GFE), the revised "Detailed Rules for Lithium Carbonate Futures and Options Business of Guangzhou Futures Exchange" has been reviewed and approved by the GFE Board of Directors and reported to the China Securities Regulatory Commission (CSRC), and is now being released.
10. The Zimbabwean government recently issued a "Mineral Classification and Declaration," formally classifying 14 minerals, including lithium, nickel, cobalt, and graphite, as "critical minerals" subject to equity and export controls, and establishing the principle that the state exercises mandatory minimum shareholding through designated special purpose vehicles (SPVs). A representative from Zhongkuang Resources responded, stating, "After verification with Zimbabwean authorities, the 'minimum shareholding ratio' is merely the personal opinion of the Minister of Mines and Mineral Development of Zimbabwe. No policy has been issued, it does not represent the government's position, and currently has no impact on the company."
11. Rio Tinto plans to restart the fourth electrolytic cell production line at its Point Tiwai aluminum smelter in New Zealand and has signed a letter of intent for a power purchase agreement with Contact Energy. If the agreement proceeds smoothly, the production line is expected to resume operation in 2030. The production line has been shut down since 2020, and its restart is expected to add approximately 30,000 tons of primary aluminum production annually.
12. The Guangzhou Futures Exchange adjusted the position limits for lithium carbonate futures. Starting with the lithium carbonate futures contract LC2610, from the date of contract listing to the 9th trading day of the month preceding the delivery month, the position limit is 5% of the contract's open interest when the single-sided open interest exceeds 60,000 lots, and 3,000 lots when the single-sided open interest is below 60,000 lots.
