At the close, China's front-month futures were mostly higher. Container-shipping Europe-route contracts jumped over 11%; coking coal rose more than 7%; eggs and coke gained over 5%; asphalt, plastics, fuel oil and propylene advanced over 2%. Decliners included raw logs, Soybean No.1 and pulp, each down more than 1%; SHFE zinc, stainless steel, SHFE nickel and palladium fell about 1%.

Iran foreign ministry spokesman Baghaei said on the 1st that a key difficulty in negotiations with the United States is frequent, self-contradictory shifts in U.S. positions. He said talks are conducted in an atmosphere of mutual distrust and that inconsistent rhetoric and media messaging from the other side only prolong negotiations. Baghaei blamed Israel—specifically its strikes on Lebanon—for preventing regional de-escalation and said the United States also bears responsibility for actions in the region. He warned repeated violations of the Israel-Lebanon ceasefire risk wider regional and global consequences. On the nuclear issue, Baghaei said no talks are underway and that the current priority is ending the war.

UK Nationwide house price index May YoY +1.7% vs est +2.2%, prior +3.0%.