Six departments jointly issued the "Guiding Opinions on Financial Support to Boost and Expand Consumption," proposing 19 key measures across six areas: supporting enhanced consumption capacity, expanding financial supply in consumer sectors, tapping and unleashing residents' consumption potential, promoting the improvement of consumption supply efficiency, optimizing the consumption environment, and strengthening policy support and guarantees.
In an open letter to the Iranian people on the 24th, Iranian President Pezeshkian stated that after the heroic resistance of the Iranian people, the war provoked by Israel, which lasted 12 days, has been declared over. Simultaneously, he instructed all agencies to focus their efforts on reconstruction work starting immediately.
In May 2025, the crude steel output of 70 countries/regions included in the World Steel Association's statistics was 158.8 million tons, a year-on-year decrease of 3.8%. For details>>
The People's Bank of China (PBOC) announced that to maintain ample liquidity in the banking system, on Wednesday, June 25, 2025, it will conduct a 300 billion yuan Medium-term Lending Facility (MLF) operation with a 1-year term, using a fixed-quantity, interest-rate bidding, and multi-price winning method.
The Ministry of Commerce will organize the 2025 "New Energy Vehicle Consumption Season" event across thousands of counties and townships to continuously unleash the consumption potential of new energy vehicles and accelerate the cultivation of new growth points in automobile consumption. The event will run from July to December.
The "Guangdong Province Work Plan for Promoting Sustained Economic Improvement and Serving the Strengthening of the Domestic Circulation" was issued, accelerating the trade-in of automobiles, home appliances, home decoration, electric bicycles, mobile phones, and digital products. It further optimizes work processes, smoothens recycling channels, and speeds up the settlement of funds for trade-in programs.
Israel and Iran agree to a comprehensive ceasefire. On the 24th, Iran's Supreme National Security Council issued a statement announcing a ceasefire with "Israel and its supporters." The easing of tensions in the Middle East caused international oil prices to plummet consecutively.
Federal Reserve Chair Jerome Powell stated in congressional testimony that the Fed is currently in a favorable position and can wait patiently for clearer signs on the economic direction before considering adjustments to monetary policy. However, he did not rule out that the impact of tariffs on inflation might be less than expected, nor did he exclude the possibility of an earlier interest rate cut.
On June 23, European Central Bank President Christine Lagarde stated that the Eurozone economy is expected to grow by 0.9% this year, 1.1% in 2026, and 1.3% in 2027.
On June 24, the transaction volume of iron ore at major Chinese ports was 813,000 tons, down 31.2% from the previous day. Building materials transactions by 237 mainstream traders amounted to 93,200 tons, down 9.5% from the previous day.
In the early morning of June 24, Tsingshan lowered the price cap for 304 coil by 100 yuan/ton. 304 hot-rolled coil was quoted at 12,000 yuan/ton (trimmed plate price: 12,140 yuan/ton). 316 hot-rolled coil was quoted at 22,600 yuan/ton (trimmed plate price: 22,820 yuan/ton), down 300 yuan/ton from the previous price. Narrow strip prices in the Foshan market hit a record low. For details>>
As of June 23, the total iron ore inventory at 47 Chinese ports was 144.9451 million tons, an increase of 921,700 tons from the previous Monday.
During June 16-22, the total iron ore inventory at seven major ports in Australia and Brazil was 12.572 million tons, an increase of 310,000 tons from the previous period.
Guizhou Juxin plans to suspend production for maintenance starting June 26, with a daily impact on building materials output of 1,500 tons. The restart date is to be determined.
Chalieco (China Aluminum International Engineering Corporation Limited) announced that on June 24, 2025, it signed a mining operation and maintenance contract for the Simfer mining area of the Simandou project in Guinea with Simfer S.A., with a total contract value of approximately $267 million.
Guangda Special Material announced that it expects to achieve operating revenue of approximately 2.5 billion yuan in the first half of 2025, an increase of approximately 619 million yuan or about 32.91% year-on-year.
According to Mysteel's incomplete statistics, Hebei Province approved 51 iron ore-related projects from January to June.
According to Mysteel's incomplete statistics, 74 investment projects by Hebei steel enterprises received approval from January to June.
Last week (June 16 - June 22), the total transaction (contract signing) area of new commercial housing in 10 key cities was 2.0612 million square meters, up 28.3% week-on-week but down 3.9% year-on-year.
Data from the Korea International Trade Association (KITA) showed that South Korea's total steel exports to the US in May amounted to $327 million, a decrease of 16.3% compared to the same period last year. The negative effects of the US steel tariff hikes have begun to appear.