1. According to Mysteel, as of the week ending June 4th, rebar production reversed its upward trend and began to decline, apparent demand decreased for the third consecutive week, mill inventories reversed their downward trend and began to increase, while social inventories declined for the twelfth consecutive week. Rebar production totaled 2.1215 million tons, a decrease of 95,200 tons from the previous week, a drop of 4.29%.
2. The OECD Steel Outlook 2026 predicts that by 2028, global steel surplus capacity will reach 745 million tons, 319 million tons higher than current OECD steel production.
3. According to USDA agricultural drought monitoring data, as of June 2nd, 2026, the drought prevalence in U.S. soybean producing areas was 28%, up 1 percentage point from 27% the previous week; and up 12 percentage points from 16% at the same time last year.
4. USDA data shows that U.S. net soybean export sales for the 2025/2026 marketing year were 276,900 tons, in line with market expectations, down from the previous week, but up 41% from the four-week average. The main increases came from Mexico, unknown destinations, Egypt, Colombia, and Indonesia.
5. According to the Price Monitoring Center of the National Development and Reform Commission, international oil prices first fell and then rose during this round of refined oil price adjustment cycle. From 24:00 on June 4th, domestic gasoline and diesel prices were reduced by 525 yuan and 505 yuan per ton respectively. On average nationwide, the prices of 92-octane gasoline, 95-octane gasoline, and 0# diesel were reduced by 0.41 yuan, 0.44 yuan, and 0.43 yuan per liter respectively.
6. According to Mysteel's research, an alumina plant in Guizhou resumed production in late May and has gradually started producing finished products. However, initial supply is still unstable, and short-term operating capacity is temporarily maintained at around 500,000 tons/year. Further capacity changes will continue to be monitored.
7. In its gold market commentary report released on June 4th, the World Gold Council wrote that looking ahead, with rising inflationary pressures, the Federal Reserve may need to raise interest rates.
8. According to data from Fubao Information's research: As of June 4, the weekly lithium carbonate production was 25,200 tons, up 1.2% week-on-week (an increase of 300 tons compared to the previous period); lithium carbonate inventory was 98,400 tons, down 0.72% week-on-week (a decrease of 709 tons compared to the previous period).
