June 8, 2026 – Recently, Nantong officially introduced a dedicated support policy for the hydrogen energy industry, charting a course for high-quality development in the sector. Leveraging its local high-quality green electricity and green hydrogen resources and its advanced hydrogen energy manufacturing base, the city is making comprehensive arrangements to build the entire hydrogen energy industry chain. It is striving to become a benchmark for hydrogen energy equipment manufacturing and application demonstration in the Yangtze River Delta and a core regional hub for hydrogen energy supply. The Nantong Municipal Development and Reform Commission and the Municipal Bureau of Industry and Information Technology jointly issued the "Implementation Opinions on Supporting the High-Quality Development of the Hydrogen Energy Industry in Nantong." The document focuses on core industry chain links such as hydrogen production, storage and transportation, and refueling infrastructure, promoting clustered and scaled development of the industry, while continuously expanding the application of hydrogen energy in three key areas: transportation, energy, and industry, thereby systematically constructing a new pattern for the local hydrogen energy industry. The newly issued implementation opinions set a clear, phased development blueprint, defining industrial development goals for two key periods. By 2028 , Nantong will have largely perfected the institutional framework for hydrogen energy development and established a comprehensive "production, storage, transmission, and utilization" supply chain and industrial system. It aims to significantly enhance its industrial technological innovation capabilities, upgrade the quality of the entire industry chain, advance infrastructure construction in an orderly manner, and continuously diversify hydrogen energy application scenarios. By 2030 , the city will have preliminarily established a clean, low-carbon, safe, and efficient hydrogen energy supply and application system, making green hydrogen the primary source of new hydrogen supply, effectively reducing hydrogen usage costs, achieving scaled application of hydrogen energy in transportation, energy, and industry, and delivering substantial industrial development outcomes. To ensure the realization of these goals, the opinions introduce a comprehensive set of supporting measures across four dimensions—industrial innovation and upgrading, infrastructure development, application scenario expansion, and industrial environment optimization—to facilitate the scaled and high-quality development of the hydrogen energy industry. On industrial innovation, Nantong will rely on the "open competition mechanism to select the best candidates" to concentrate efforts on tackling key core technologies in hydrogen energy, accelerating R&D iterations and the market transformation of cutting-edge technologies. Concurrently, it will focus on supporting the construction of various industrial platforms such as provincial-level hydrogen energy innovation platforms and hydrogen energy equipment pilot-scale bases. Drawing on its strong foundation in the equipment manufacturing industry, Nantong will cultivate high-quality enterprises in hydrogen energy subsectors that are specialized and sophisticated SMEs capable of producing novel and unique products, comprehensively enhancing its R&D and manufacturing capabilities for equipment across the entire hydrogen energy chain. In infrastructure development, Nantong will leverage the resource endowments of areas like Rudong, Qidong, Haimen, and its development zones to deploy key projects for producing hydrogen from renewable energy and purifying industrial by-product hydrogen according to local conditions, thereby strengthening the regional hydrogen supply security system. The layout of hydrogen refueling facilities will be scientifically coordinated based on industrial development needs and practical application scenarios, prioritizing the construction of hydrogen refueling infrastructure in key areas such as expressway networks, port logistics hubs, and industrial parks. Furthermore, the city will model its management approach after natural gas refueling stations, creating tailored management standards for hydrogen refueling stations, simplifying construction and deployment procedures, and providing institutional support for the large-scale construction of hydrogen refueling infrastructure. In expanding hydrogen energy application scenarios, Nantong is building a multi-field, diversified application system. In transport, it will vigorously promote fuel cell vehicles, advance the construction of green hydrogen-powered ships, and proactively align with Shanghai's plans for an international shipping green fuel bunkering and trading center, integrating into the Yangtze River Delta's green shipping system. In the energy sector, it will actively explore new application models such as "wind and solar power generation + hydrogen energy storage" integration and hydrogen-heat-power coupling, creating a new type of integrated energy supply system. For industrial development, it will leverage its coastal advantages to build a green fuel industry base, promoting the synergistic development of hydrogen, ammonia, and methanol industries, and implementing pilot demonstration projects for producing green ammonia and green methanol from green electricity. In the industrial sector, it will actively promote green hydrogen metallurgy technology and steadily advance the substitution of green hydrogen, ammonia, and methanol to help high-energy-consuming industries like steel and chemicals achieve deep energy conservation and emission reduction. On industrial environment optimization, Nantong will seize multiple policy benefits from regional hydrogen energy pilots, hydrogen energy urban cluster pilots, and the Yangtze River Estuary Industrial Innovation and Green Development Collaborative Zone to deepen cross-regional industrial cooperation and create a regional hydrogen energy industry landscape characterized by complementary strengths and interconnected development. Meanwhile, it will integrate various financial tools and dedicated government funds to increase support for hydrogen energy projects and prioritize land supply for major hydrogen energy project construction. Additionally, by improving the industrial standards system, intensifying efforts to attract and cultivate hydrogen energy professionals, and strengthening organizational and coordination safeguards, the city will solidify the foundation for the high-quality development of the hydrogen energy industry in all respects.

The EU's Directorate-General for Trade plans to publish country-specific steel import quotas only in the final week of June, just few days before the safeguard successor measure takes effect on July 1, 2026. The new framework imposes 50% tariffs and reduces import quotas by 47%, placing a significant burden on Europe's steel-processing sector. Critics argue the delayed publication undermines business planning and may conflict with Article 41 of the EU Charter on the right to good administration. Separately, the Commission has launched a consultation on Melt & Pour proof-of-origin requirements under the EU Steel Regulation, running from June 4 to July 2, 2026. The implementing act will determine documentation standards for importers proving where steel was melted, with overly burdensome requirements risking disproportionate impact on SMEs versus large integrated producers.

May 29, 2026, 02:29 AM Gold is consolidating but the long-term bull market remains strong. Fiscal imbalances and central bank buying to drive prices higher. Gold is just taking a breath and the race is not over. Gold prices have pulled back from recent highs, dipping below $4,500 per ounce and testing key technical support levels, but the long-term bull market remains firmly intact, according to portfolio manager Tom Winmill of the Midas Discovery Fund. In an interview with Kitco News , Winmill emphasised that the current consolidation should be viewed as a healthy pause rather than a reversal. “Gold is just taking a breath and the race is not over,” he stated, underscoring his conviction that structural drivers continue to support higher prices ahead. The yellow metal has faced pressure amid shifting market dynamics, including stronger US dollar moves and fluctuations in Treasury yields. Yet Winmill sees these as temporary headwinds in what he describes as a secular bull market for gold. Strong fundamentals underpin outlook Winmill pointed to persistent global fiscal imbalances as a core reason for optimism. “There’s no way back from the fiscal imbalances, and gold benefits,” he noted, highlighting how elevated government debt levels and monetary policy realities create a favorable environment for precious metals. Central bank buying remains a powerful tailwind, with many emerging market institutions continuing to diversify reserves away from traditional currencies. This demand floor, combined with investor interest in gold as a hedge against uncertainty, provides significant support even during periods of consolidation. The portfolio manager also drew attention to gold equities, which he believes offer compelling value after the recent correction in the sector. Mining companies have strengthened their balance sheets through disciplined capital allocation and are now generating robust cash flows. Winmill views gold stocks as a strategic opportunity for investors seeking leveraged exposure to rising metal prices. Path to higher prices remains open Looking further ahead, Winmill has previously expressed bullish targets, including scenarios where gold could approach or exceed $5,000 per ounce. He maintains that the path to such levels is “wide open,” driven by a combination of macroeconomic factors including potential monetary easing, geopolitical risks, and ongoing de-dollarization trends. Despite short-term volatility, the Midas Discovery Fund manager advised patience. The recent pullback, in his view, represents a breathing period that allows the market to reset before the next leg higher. Investors who focus on fundamentals rather than daily price action are likely to be rewarded as the cycle matures. Portfolio positioning and strategy At Midas Discovery, Winmill’s approach centers on a mix of established producers and select development-stage companies with strong assets. Holdings have historically included names like Barrick Gold and Newmont, alongside royalty companies that provide lower-risk exposure to gold price upside. The fund’s long-term track record reflects success in navigating precious metals cycles, aiming to preserve and grow purchasing power through strategic investments in gold, silver, and related hard assets. Winmill has managed the fund for over two decades, emphasizing a disciplined, value-oriented style. Current market conditions, with gold testing its 200-day moving average, present what Winmill sees as an attractive entry or accumulation point for both physical metal and equities. He cautioned, however, that volatility will persist, particularly as markets digest economic data and geopolitical developments. Broader market context Gold’s performance in 2026 has been marked by significant swings following a strong prior year. While prices have retreated from peaks above $4,500, many analysts continue to forecast substantial upside over the medium term, with some projections targeting $5,000 or higher by year-end or into 2027. Winmill’s message aligns with this constructive view, reinforcing that structural bull market drivers have not been exhausted. For investors, the current environment calls for a focus on quality assets and a long-term horizon rather than attempting to time short-term moves. As global uncertainties persist, from fiscal policy challenges to international tensions, Winmill believes gold’s role as a safe-haven and inflation hedge will only grow in importance. The race, as he puts it, is far from over. Source： https://invezz.com/news/2026/05/29/gold-is-just-taking-a-breath-path-to-5000-oz-still-wide-open/

India's DPIIT and Ministry of Steel are jointly convening a stakeholder consultation on June 3, 2026 in New Delhi to address challenges facing the country's stainless steel and specialty steel sectors. The meeting will be co-chaired by Commerce & Industry Minister Piyush Goyal and Steel Minister H.D. Kumaraswamy, and will bring together manufacturers, end-users, and MSMEs to discuss issues related to production, processes, and quality. The session will be held in hybrid format at Vanijya Bhawan and aims to gather actionable industry feedback to strengthen India's steel manufacturing ecosystem and global competitiveness.

The Argentine government recently enacted Decree 242/2026, establishing the Medium-Sized Investment Incentive Regime (RIMI) to bolster energy efficiency and renewables. The decree offers significant fiscal benefits, including accelerated depreciation and early VAT refunds, for small and medium-sized enterprises (SMEs) investing in solar panels, battery energy storage systems (BESS), and high-efficiency equipment. This policy move is designed to stimulate private investment amidst limited traditional financing, further optimizing the amortization process for industrial and commercial solar adopters across the country.

Gold has been pulled in two directions in recent weeks. On one side, rising oil prices and escalating geopolitical tensions have strengthened the metal’s safe-haven appeal.

[SMM Steel] South Korea launched a KRW 99.4bn ($73m) R&D program to help SMEs in steel and aluminum adapt to CBAM and global carbon rules. Led by the Ministry of SMEs and Startups and Korea Technology and Information Promotion Agency for SMEs, the scheme offers up to KRW 5.5bn per project for 3–5 years, supporting fuel switching, energy efficiency, and recycling, with real-site testing. The program runs to 2030, aiming to maintain export competitiveness.

South Korea’s Ministry of SMEs and Startups, together with TIPA, has launched the “2026 Carbon Reduction R&D for Core Export Items” project, focusing on developing carbon reduction technologies for high-emission products such as aluminium and steel to address CBAM-related cost pressures. The project, open for applications in May, covers fuel substitution, process optimisation and resource recycling, with support for real-world implementation and verification. Running until 2030 with a total budget of about USD 73 million, the initiative aims to enhance SMEs’ export competitiveness under tightening global carbon regulations.

The UK plans to impose 50% steel tariffs and a 60% quota cut starting July 2026, potentially driving prices above €1,000/ton, causing the highest in Europe. Similarly, EU steel prices have risen 20% since October 2025, with a 34% total surge expected by mid-2026 due to new safeguards and CBAM. In stark contrast, the Indian Ministry of Steel issued a decree on April 27, 2026, exempting MSMEs from QCO compliance for specific stainless steel imports until October 2026. While Europe faces criticism for strangling its manufacturing backbone with bureaucracy and duties, India is moving to de-bureaucratize and support its smaller industrial players.

Trump used cutting off weapons aid to Ukraine as leverage to pressure European allies to join a joint operation to reopen the Strait of Hormuz. According to media reports on Thursday, informed sources revealed that after multiple European countries refused in mid-March to participate in the US-led Hormuz escort operation, Trump immediately threatened to stop supplying Purl, NATO’s weapons procurement mechanism established for Ukraine, and warned that he would completely withdraw support for Ukraine.