US refined product imports (API) for week to June 26: +213,000 b/d, prior -152,000 b/d.

Spot gold fell more than 7% in 1H, trading over $1,500 below its intra-year record high. Spot silver dropped about 18%, more than halving from its peak. Spot platinum declined over 24% and spot palladium nearly 25%. LME copper hit an intra-year high and gained 7% in the half; LME aluminium rose 3.7%. Despite retreating from geopolitically driven peaks, oil remains higher YTD—WTI +21.6%, Brent +20%.

China A-share PV equipment sector softened in early trade; Sungrow fell more than 15%, while Ginlong Technology, Chint Power, Dier Laser, GoodWe and Shangneng Electric also declined.