The negative China-related measures taken by the US Federal Communications Commission and the US Department of Homeland Security seriously violate the important consensus reached by the two heads of state and seriously undermine China’s legitimate rights and interests. On August 5, a spokesperson for the Ministry of Commerce stated that China has no choice but to respond with necessary countermeasures, including: strengthening export controls on drones and their key parts and technologies to the US, and suspending the China Compulsory Certification

SMM August 6 news: Overnight, LME lead opened at $1,893/mt, drifted higher to $1,907.5/mt during Asian trading hours before weakening. Entering the European session, it gave back most gains and dipped to $1,883.5/mt, eventually closing at $1,890/mt, flat from the previous close. Overnight, the most-traded SHFE lead 2609 contract opened at 15,735 yuan/mt, briefly touched a high of 15,745 yuan/mt then drifted lower. Bulls reduced positions, pushing the contract to a low of 15,600 yuan/mt in late trading, and it finally settled at 15,640 yuan/mt, down 0.73%. Supply side, primary lead smelters saw additional maintenance in August, with production expected to decline. Secondary lead output also has a downside expectation, but attention should be paid to the recovery in lead prices lifting smelter production enthusiasm, with some enterprises likely to resume production ahead of schedule. Moreover, lead ingot social inventory is staying high, and we need to be wary of the pullback risk from suppliers moving ingots out of warehouses before delivery. Overall domestic consumption was neutral: demand in the e-bike segment was conservative and relatively stable from July to August; auto sector demand was mixed, with enterprises handling export orders performing well, while those serving the domestic market underperformed. In summary, the exit of bears has led to a short-term rebound in lead prices to catch up, but the consumption picture will determine how much room this rebound has.

The Political Bureau of the CPC Central Committee: Deepen comprehensive reform of investment and financing in the capital market, and enhance the resilience and confidence of the capital market.

[SMM Lead Morning Brief: US dollar index declines, LME lead jumps to a one-month high] SMM, July 30 – Overnight, LME lead opened at $1,889/mt. Trading was sluggish during Asian hours, and LME lead mostly consolidated between $1,886 and $1,892/mt...

US Fed announced for the fifth consecutive time this year to maintain interest rates unchanged.

Ministry of Commerce: "Insufficient domestic demand in China causes overcapacity" does not reflect facts

[SMM Lead Morning Brief: Bears Increase Short Covering, SHFE Lead Gradually Recovers Earlier Losses] SMM, July 28: Overnight, LME lead opened at $1,891.5/mt, then plunged in early trading, hitting a low of $1,880.5/mt, although the decline was later somewhat repaired...

[SMM Tin Morning Brief: SHFE tin consolidates on a strong note, tin price stands at 418,000 yuan/mt]

In June, the steel industry achieved a profit of 13.6 billion yuan.

[SMM Tin Morning Brief: Dense Macro Event Window, Low Inventory Support Pattern Unchanged]