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On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that profits in the raw materials manufacturing sector grew rapidly. From January to May, profits of enterprises above designated size in the raw materials manufacturing sector increased by 83.1% year-on-year, contributing 10.2 percentage points to the overall profit growth of industrial enterprises above designated size. By industry, driven by increased demand from emerging industries such as new energy and artificial intelligence, prices of products such as copper and aluminum remained at high levels, pushing profits in the non-ferrous metals industry to increase by 117.1%, contributing 5.3 percentage points to the overall profit growth of industrial enterprises above designated size. Driven by rising prices of products related to the petroleum industry chain, the petroleum processing industry turned a profit year-on-year, and the chemical industry saw a profit increase of 71.6%.On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that the profits of high-tech manufacturing maintained double-digit growth. From January to May, the profits of large-scale high-tech manufacturing enterprises increased by 44.7% year-on-year, contributing 8.0 percentage points to the overall profit growth of large-scale industrial enterprises, demonstrating its continued leading role. By industry, the semiconductor industry chain performed well. In electronic device manufacturing, the profits of optoelectronic device manufacturing and semiconductor discrete device manufacturing increased by 53.8% and 40.6% respectively; in electronic component and electronic special material manufacturing, the profits of electronic special material manufacturing and electronic circuit manufacturing increased by 665.4% and 19.7% respectively. The medical equipment and related industries saw rapid profit growth, with the profits of dental equipment and instruments manufacturing and hygiene materials and medical supplies manufacturing increasing by 26.4% and 23.2% respectively.Chinas industrial profits rose 21.1% year-on-year in May, up from 24.70% in the previous month.Chinas year-to-date profits for major industrial enterprises rose 18.8% in May, up from 18.20% in May.On June 27, following the US militarys airstrikes against Iran on June 26, US Vice President Vance stated that if Iran resorts to violence, it will face a military response. Vance posted on social media that day: "Iran signed a ceasefire agreement, and we have honored it. If they have objections to how the memorandum of understanding is being implemented, they can communicate directly by phone. But if violence is used, it will be met with a military response." Earlier on June 26, the US Central Command issued a statement saying that the US military launched strikes against Iran that day in response to the attack on a merchant ship transiting the Strait of Hormuz the previous day.

Natural Gas Price Prediction: Markets Gap Upward to Start the Week

Daniel Rogers

Jul 12, 2022 14:32

 截屏2022-06-07 下午5.20.28.png

 

To begin the trading week, the natural gas markets gapped upward, then drew back to close the gap before rising once again. In the end, this market continues to exhibit a lot of erratic behavior, and quite honestly, we had been so oversold that this move was necessary. In truth, there may yet be some progress to be made, but in the end, the natural gas markets will continue to take a beating. This is due to the fact that the United States won't be providing LNG for the European Union, and the EU has now realized that it needs to find alternative energy sources. (To get an idea, look at the coal market.)

 

I believe we will move lower to test the 200 Day EMA if we are able to close Monday's session below the bottom of the candlestick. This does not necessary imply that you leap right in, but I still believe that this will resemble a case where you "fade the rallies." As a result, I believe that this market's early signals of weariness will continue to provide possibilities for shorting. Because of this, I do believe that we will go much lower, but given how far we have dropped in such a short period of time, a slight rebound makes a lot of sense.

 

The $5.34 is currently the "floor in the market," and I completely expect that we will ultimately revisit that range. The market would collapse if we can break down below that level, but I believe we need to do more before trying that.


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