On June 23 local time, former US President Donald Trump posted on his social media platform "Truth Social" stating that Israel and Iran have agreed to a comprehensive ceasefire. Trump posted at 18:00 Eastern Time (ET) on the 23rd, stating the ceasefire would begin approximately six hours later, at 00:00 ET on the 24th. A senior Iranian official confirmed that Iran has accepted a US-proposed ceasefire agreement with Israel involving Qatari mediation.
On June 24 local time, Israeli Prime Minister Benjamin Netanyahu, at the conclusion of a cabinet meeting, instructed ministers not to comment on recent developments, specifically "Trump's announcement of an Israel-Iran comprehensive ceasefire agreement," until further notice.
Recently, the new application of special-purpose bonds being allocated to government investment funds has drawn market attention. Concurrently, arrangements focusing the new special bond quota on land banking, acquiring existing commercial housing stock, and settling overdue payments owed by local governments to enterprises are being implemented. Industry insiders predict the issuance pace of new local government special bonds will accelerate in the second half of the year, including special new special bonds designated for debt resolution.
The Eurozone's preliminary Composite PMI for June held steady at 50.2, below the expected 50.5. European Central Bank President Christine Lagarde reiterated that the ECB has the capacity to respond to "exceptionally severe" economic and political uncertainties.
On June 23, iron ore transactions at major Chinese ports totaled 1.182 million tonnes, up 52.1% from the previous day. Transactions of construction steel by 237 mainstream traders amounted to 103,000 tonnes, up 5.6% day-on-day.
During June 16-22, iron ore arrivals at 47 Chinese ports totaled 27.729 million tonnes, an increase of 2.554 million tonnes week-on-week.
During June 16-22, iron ore shipments from Australia and Brazil totaled 30.609 million tonnes, an increase of 2.188 million tonnes week-on-week.
On June 23, coke market prices trended weaker as the fourth round of price cuts took effect. Mainstream steel mills in Hebei and Shandong provinces lowered purchase prices for coke: by 50 yuan/tonne for wet-quenched coke and 55 yuan/tonne for dry-quenched coke.
As of June 20, steel billet orders held by sampled steel mills stood at 1.795 million tonnes. Domestic orders accounted for 512,000 tonnes (29%), while direct export orders were 1.283 million tonnes (71%). Most order prices were between 2,880 and 2,980 yuan/tonne.
Mysteel's preliminary estimate for the June strip steel settlement price: The average warehouse spot settlement price for strip steel in North China's Fengnan is expected to be 3,070 yuan/tonne for specifications below 350mm; 3,080 yuan/tonne for 351-450mm; 3,080 yuan/tonne for 451-679mm; and 3,090 yuan/tonne for specifications above 680mm. Details >>
Recently, an Inner Mongolia-based high-carbon ferrochrome producer restarted one 33,000 KVA submerged arc furnace. This is expected to impact monthly high-carbon ferrochrome production by approximately 6,000 tonnes.
Sichuan Province: From January to May, 810 key provincial projects completed investment of 403.69 billion yuan, achieving 51% of the annual target and surpassing the half-year goal ahead of schedule.
According to incomplete Mysteel statistics, as of June 23, five central state-owned construction enterprises have announced their new contract signings for the first five months of 2025, totaling 2,928.548 billion yuan cumulatively.
Hangzhou has launched a program allowing the direct use of Housing Provident Fund (HPF) balances to pay for down payments on newly built commercial housing purchases within the city.
Shaanxi Province Coal Industry Association: In May, 234 coal mines in Shaanxi Province maintained normal production, producing 62.4305 million tonnes of coal and selling 59.6936 million tonnes. By the end of May, coal production in Shaanxi reached 318.981 million tonnes, an increase of 9.599 million tonnes (up 3.1%) year-on-year.