1. Two departments of the National Development and Reform Commission (NDRC) announced: Promote the shift of thermal power to a supporting and regulating power source. Optimize the layout of thermal power plants and rationally control the installed capacity and power generation of coal-fired power plants.
2. According to the China Iron and Steel Association (CISA), in mid-June 2026, key steel enterprises produced a total of 21 million tons of crude steel, with an average daily output of 2.1 million tons, a 0.8% increase compared to the previous period; and 19.01 million tons of pig iron, with an average daily output of 1.901 million tons, a 0.7% increase compared to the previous period.
3. Mysteel data shows that rebar production was 2.1325 million tons, a decrease of 54,800 tons; rebar mill inventory was 1.9625 million tons, an increase of 113,300 tons; rebar social inventory was 4.8714 million tons, an increase of 131,700 tons; and apparent demand for rebar was 1.8875 million tons, a decrease of 320,500 tons.
4. According to Reuters, analysts expect U.S. soybean stocks to reach 1.046 billion bushels as of June 1, 3.8% higher than the same period last year. If this forecast materializes, it will be the largest soybean stockpile since the same period in 2020. U.S. corn stocks are expected to reach 5.408 billion bushels as of June 1, 16.5% higher than the same period last year. If this forecast materializes, it will be the highest since the same period on June 1, 1988. Wheat stocks are expected to reach 934 million bushels, a 9.3% increase from the same period last year. If this forecast materializes, it will be the highest since the same period on June 1, 2020.
5. Ahead of the U.S. Department of Agriculture's (USDA) annual crop acreage report, analysts expect U.S. soybean planted area to be 85.369 million acres, with estimates ranging from 84.3 million to 86 million acres. The US corn planting area in 2026 is projected to be 94.992 million acres, with an estimated range of 93.95-96.3 million acres. The total US wheat planting area in 2026 is projected to be 43.858 million acres.
6. Indonesia's Ministry of Energy announced that it has issued regulations to implement a mandatory blending policy for B50 biodiesel starting July 1st, requiring all diesel sold to contain 50% palm oil-based diesel. The new regulations include a three-month transition period for fuel retailers to clear their inventories.
7. The latest monthly report from the International Grains Council (IGC) shows that global soybean production in 2026/27 is projected to remain unchanged at 0 tons to 442 million tons, trade volume is expected to remain unchanged at 0 tons to 190 million tons, consumption is expected to decrease by 433 billion tons to 445 million tons, and ending stocks are expected to decrease by 0 tons to 76 million tons.
8. According to Aladdin (ALD), the first shipment of Malaysian ore from Bintanta Alumina, Indonesia's leading alumina producer, arrived in mid-June, officially opening up maritime logistics channels. This influx of imported ore is expected to alleviate the raw material supply gap caused by delays in the approval of RKAB bauxite mining quotas in Indonesia.
9. Indonesia's Ministry of Mines stated on Thursday that it has not yet made a decision on the total nickel ore production quota for fiscal year 2026. This comes after market rumors suggested that Indonesia might increase its nickel ore production quota. The ministry stated that the government's goal is to ensure that ore production is aligned with downstream demand, adding that all quota adjustment applications must undergo a review process.
