LME nickel rose 2.00% intraday to $16,638.90 a tonne.

Bank of England MPC member Mann said she is prepared to take “active” rate hikes if inflation expectations and other price signals do not improve later this year. She backs keeping Bank Rate at 3.75% for now but warned inflation could become embedded. Mann said she will watch H2 data closely to prevent rising prices feeding into wage settlements and inflation expectations. Energy price moves, profit‑margin shifts and the backdrop for 2027 wage negotiations will be critical in judging whether current cost pressures embed. “I believe, if outcomes are adverse for the inflation process, active rate hikes can push inflation expectations and actual outcomes back toward the 2% target,” she said.

July 3 — Xinghe Power Aerospace said its domestically developed Cangqiong-50 reusable LOX/kerosene engine completed its 163rd routine hot-fire on July 1 at the Niutoushan power-system test center. The company said it has completed 57 engine hot-fire runs to date, with cumulative test time of 20,088s and a single-unit maximum cumulative run time of 2,757s. The Cangqiong-50 is designed for at least 25 reuses; more than 40 engines of this type have been assembled and delivered. The Zhishenxing-1 mid-to-large reusable liquid launch vehicle, powered by Cangqiong-50, is scheduled for a near-term maiden flight and will begin staged recovery validation thereafter.