LME metal warrants: Copper on warrants 199,275t, down 1,750t; canceled 113,300t, down 625t. Aluminium on warrants 246,600t, unchanged; canceled 45,825t, down 3,125t. Zinc on warrants 90,000t, down 1,425t; canceled 26,350t, down 650t. Nickel on warrants 258,576t, unchanged; canceled 16,044t, unchanged. Lead on warrants 274,400t, unchanged; canceled 17,675t, down 200t. Tin on warrants 6,755t, down 345t; canceled 1,460t, up 235t.

Japan's 30-year government bond auction drew its strongest demand since 2019, with a bid-cover ratio of 4.55, versus 2.94 at the prior auction and a 12-month average of 3.41. Auction results lifted JGBs: 10‑year JGB futures rose and 30‑year bond prices climbed, sending the 30‑year yield down about 5bps to 4.025%. The strength came despite market concerns about fiscal policy and inflation, as high yields attracted buyers. SMBC Nikko Securities senior rates strategist Miki Den said: "Yields are at historically high levels; this morning's further rise boosted demand. The ultra-long end's steepening may pause temporarily, or mark a turn toward curve flattening."

Counterpoint Research director MS Hwang said recent share-price weakness does not indicate a fundamental shift in the memory-chip market. Samsung Electronics fell 6.9% and SK Hynix fell 6.1% on Tuesday, even as Samsung expects another record quarter on strong demand; some investors may view much of Samsung’s upside as already priced in on stronger profitability expectations. Hwang said recent strikes and political debate over profit-sharing could raise concerns about future shareholder returns, but manufacturers’ fundamentals remain solid. Counterpoint’s July memory-price tracking report now forecasts Q3 DRAM prices up 10–20% as customers continue to front-load orders, versus an earlier 5–10% projection.