Last week, zinc prices surged and then fell back. On the macroeconomic front, the hawkish remarks in the US Fed's May meeting minutes suppressed market expectations for rate cuts, causing both SHFE and LME base metals prices to decline.

Crude oil prices rose today. As of 15:17 CST, WTI oil and Brent oil rose 0.01% and 0.03% respectively. The U.S. dollar had fallen for three consecutive days under the influence of the Fed’s interest rate hike suspension and rose 0.12% as of 15:19 CST today.

Crude oil rose slightly today. As of 15:19 CST, WTI oil and Brent oil rose 0.85% and 0.73% respectively. The U.S. dollar snapped its five-day winning streak and dipped 0.1% as of 15:19 today.

At the 2023 Zhongguancun Forum on May 28, Daniel Yerkin, vice chairman of S&P Global, said that the energy transition will lead to a substantial increase in the demand for mineral resources.

Recently, Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that due to the low base effect of the same period last year, the production and sales of the automobile market in April achieved a significant year-on-year growth.

According to data released by the South East Asia Iron & Steel Institute, it is expected that in 2023, steel demand in the six ASEAN countries (Vietnam, Indonesia, Thailand, the Philippines, Malaysia and Singapore) will increase by 3.4% year-on-year, reaching 77.6 million mt.

The CIH pointed out that the overall sales volume of the property market in May rose month-on-month.

According to data from the National Bureau of Statistics, total profits of industrial enterprises above designated size totalled 2.0329 trillion yuan from January to April, a drop of 20.6% year on year.

U.S. President Biden said in a speech on May 28 local time that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling and urged Congress to pass the agreement as soon as possible.

According to CME Fed Watch Tool, the probability of the US Fed maintaining interest rates unchanged in June is 33.5%, that of a 25-basis-point hike is 66.5%, that of maintaining rates at the current level in July is 20.2%, that of an accumulative rate hike by 25 basis points is 53.4%, and that of an accumulative rate hike by 50 basis points is 26.4%.