The European Council has approved its first aid package for Nigeria, amounting to €20 million. This measure will enhance the defense capabilities of the Nigerian armed forces to ensure the safety of troops deployed on the country's territory.

1. Data from the Shanghai Shipping Exchange shows that as of October 16, the Shanghai Containerized Freight Index (SCFI) was 3679.58 points, up 15.47 points from the previous period. 2. Mysteel statistics show that the total imported iron ore inventory at 45 ports nationwide was 165.3467 million tons, an increase of 544,500 tons month-on-month; the average daily pig iron output of 247 steel mills was 2.3366 million tons, a decrease of 1,800 tons from the previous week and a decrease of 72,900 tons year-on-year. 3. Data from the Pilbara Ports Authority (PPA) of Australia shows that iron ore exports from Port Hedland, Australia, increased to 48.9041 million tons in September, compared to 46.6046 million tons in August. 4. On October 16, the National Development and Reform Commission and the National Energy Administration, together with relevant departments, held a meeting in Taiyuan, Shanxi Province, to promote the resumption of coal mine production and ensure supply. The meeting required Shanxi Province to accelerate the resumption of production at coal mines that had been shut down. 5. Hebei Iron & Steel Group's final price for ferrosilicon manganese futures in October 2026 was 5980 yuan/ton, compared to 6050 yuan/ton in September and 5820 yuan/ton in October 2025. 6. According to SteelHome E-commerce, total urban inventory this week was 9.2072 million tons, a decrease of 383,800 tons (-4.00%) compared to last week. 7. The Zhengzhou Commodity Exchange plans to revise the "Detailed Rules for Zhengzhou Commodity Exchange Dried Red Date Futures Business": to better meet the actual needs of spot market circulation, the upper limit of the moisture content of the benchmark delivery product will be lowered from 25% to 22%, better aligning with the actual requirements of spot trade for the dryness of red dates. 8. Data released by the U.S. Department of Agriculture (USDA) shows that private exporters reported sales of 558,000 tons of soybeans to China and 236,000 tons of soybeans to unknown destinations. 9. China National Grain Reserves Corporation (CNGRC) issued a notice regarding the auction for the central government's frozen pork rotation program, scheduled for October 22, 2026. The auction will involve 13,800 tons of pork. 10. According to the Indonesian Ministry of Energy and Mineral Resources, the Indonesian government has approved a revised 2026 RKAB nickel ore production quota of approximately 290 million tons. 11. According to Antaike, global nickel supply may contract for the first time in a decade in 2026.

On Oct. 18 CHINA'S HE met members of the China Investment Corporation international advisory committee. He said China’s economy is broadly stable and shifting toward higher-quality growth, and that during the 15th Five-Year Plan period China will unswervingly expand high-level opening-up and deepen financial-system reform. He urged the committee to continue advising CIC’s development and to support China’s economic growth and international cooperation. Committee members said they are confident in China’s economic and financial market prospects and will continue to contribute to deeper Sino-foreign cooperation.