Multiple departments, including the PBOC, have launched a series of policy support in the real estate market. The NDRC will take more measures to consolidate and expand the development advantages of the NEVs industry. Market expectations for a rate cut by the US Fed within the year have resurfaced. Multiple favourable macro fronts and market concerns about geopolitical risks have led to significant increases in copper, gold, and silver. Together with market expectations that the COMEX copper short squeeze risk remains.

According to data provided by the China Iron and Steel Association (CISA), in the first half of this year, the country imported 576 million mt of iron ore, a year-on-year increase of 7.7%.