1. Maersk announced adjustments to its Peak Season Surcharge (PSS) for routes from the Far East to Northern Europe and the Mediterranean. Rates for the Northern Europe and Mediterranean routes: US$750 for all 20-foot containers from the Far East (excluding South Korea) to Northern Europe and the Mediterranean; US$1500 for all 40-foot and 45-foot containers.
2. The China Iron and Steel Association's Circulation Branch, together with over 40 provincial and municipal steel circulation industry associations nationwide, issued the "Initiative on Anti-Involution Action in the Steel Circulation Industry," publicly advocating against dumping below cost and malicious order-grabbing, and proposing to regulate steel export order to avoid trade friction caused by blind order-grabbing overseas.
3. The latest data from the Price Monitoring Center of the National Development and Reform Commission shows that as of June 10, 2026, the price of live pigs was RMB 9.71/kg, the price of corn was RMB 2.42/kg, and the pig-to-corn price ratio was 4.01. Compared to June 3, 2026, hog prices fell by 0.51%, corn prices fell by 0.82%, and the hog-to-corn price ratio rose by 0.25%.
4. The Brazilian Association of Grain Exporters (Anec) stated that Brazil's soybean exports in June are expected to reach 15.31 million tons, higher than the previous estimate of 14.38 million tons. Brazil's soybean meal exports in June are expected to be 2.24 million tons, lower than the previous estimate of 2.31 million tons.
5. According to the National Grain and Oil Information Center, monitoring shows that as of June 12, the national major oil mills' imported soybean inventory was 7.26 million tons, an increase of 430,000 tons week-on-week, 1.42 million tons month-on-month, 660,000 tons year-on-year, and 1.45 million tons higher than the average of the past three years.
6. Goldman Sachs released its latest forecast: lowering its Brent crude oil price forecast for the fourth quarter of 2026 to $80 (previously $90) and its average price forecast for 2027 to $75 (previously $80). The average price of WTI crude oil is projected to be $75 per barrel in the fourth quarter of 2026 and $70 per barrel in 2027.
7. According to SMM, large-scale primary lead smelting enterprises in Central China plan to conduct annual equipment maintenance from the end of July to August. Lead ingot production will be affected during the maintenance period, with an estimated monthly impact of around 9,000 tons. Supply levels will be disrupted from July to September, and the maintenance is expected to end by the end of September with full production resumption.
8. The World Gold Council (WGC) stated on Tuesday that 45% of the central banks surveyed expect to increase their gold holdings in the next 12 months, an increase of 2 percentage points from a year ago. The WGC's global central bank director stated that central banks remain enthusiastic about gold, and the recent decline in gold prices has not changed their minds.
