Real-time News

The main contract for the container shipping index (European route) fell 200.0 points during the day, currently trading at 2638.5 points, a drop of 7.05%.

July 1st Futures News: The main contract for container shipping (European route) fell 6.00% intraday, currently trading at 2666.0 points. A research report from Yide Futures points out that the sharp decline in European container shipping futures was triggered by profit-taking by long positions, with the main contract shifting from EC2607 to EC2608. Currently, the fundamentals for the peak season in the spot market remain strong, with tight capacity supporting spot freight rates. Maersk's latest WK29 European route quotes are at $3300/TEU and $5500/FEU. As the previous geopolitical and price increase benefits have been fully priced into the market, the trading logic has shifted from supply and demand bullish to a game of expectations surrounding the peak season inflection point. Short-term volatility has increased, with the market repeatedly weighing the resilience of the spot market against the increase in forward shipping capacity. A high-level, wide-range fluctuation pattern is expected to continue in the short term. (This content and opinion are for reference only and do not constitute any investment advice.)

July 1st Futures News: According to JLC Network's calculations, as of the eighth working day on July 1st, the change rate was -15%, with the average price of reference oil at $74.19/barrel. Domestic gasoline and diesel prices should be reduced by 820 yuan/ton. The price adjustment window for this round is at 24:00 on July 3rd. 1. Shandong Local Refineries: Yesterday, operators purchased only as needed. Gasoline and diesel shipments from local refineries were generally weak, failing to reach a balance between production and sales. Furthermore, the decline in international crude oil prices created downward pressure. It is expected that the price of refined oil products from Shandong local refineries will fall by around 30 yuan/ton today. 2. East China: On Wednesday, crude oil prices closed lower, and news was bearish. The sales pressure on major oil companies eased at the beginning of the month, and gasoline and diesel prices in East China are expected to consolidate within a narrow range today. Operators are cautious with their immediate needs, resulting in a sluggish trading atmosphere. 3. South China: On Wednesday, crude oil prices fell, and negative news further impacted the market. It is expected that the gasoline and diesel market in South China will maintain a weak downward trend today. Terminal enterprises will continue to be cautious in their purchasing operations, resulting in a sluggish trading atmosphere. 4. North China: On Wednesday, international oil prices closed lower overnight, pressured by negative news and continued demand drag from regional rainfall. It is expected that gasoline and diesel prices from major suppliers in North China will be under pressure and decline. Traders are adopting a wait-and-see approach, with a cautious trading atmosphere. 5. Central China: On Wednesday, crude oil prices closed lower, and negative news further fueled the market. It is expected that gasoline and diesel prices from major suppliers in Central China will continue to weaken today. Recent continuous rainfall has suppressed demand, with downstream buyers focusing on immediate needs, resulting in a stable and sluggish trading environment.

The yield on Japan's five-year government bonds rose 1.5 basis points to 1.905%.

July 1st - The 62-day national railway summer transport season begins today and will end on August 31st. During this period, the national railway is expected to transport 1.01 billion passengers, averaging 16.29 million passengers per day. With the start of the summer travel season, train schedules have also changed. Starting at midnight on July 1st, the national railway will implement its third-quarter train schedule, with 12,174 scheduled passenger trains, an increase of 106 trains compared to the previous schedule.

July 1st - Annabel Fiddes, Deputy Director of Global Economics at S&P Global, stated that the latest PMI survey shows Japanese manufacturing delivered its strongest quarterly performance in over 12 years in June. Driven by a significant improvement in customer demand, factories continued to expand production at a steady pace. Furthermore, overall new business growth hit its fastest pace in nearly four and a half years, with strong demand for AI-related technologies and semiconductors. However, growth was at least partly driven by stockpiling by companies amid the Middle East conflict. Notably, supplier performance deteriorated sharply again in June due to shipping delays and supplier shortages. Consequently, inflationary pressures remain among the most severe since the survey began in 2001, with both input costs and selling prices rising rapidly again in June. Therefore, there is considerable uncertainty as to whether this strong performance can continue into the second half of the year, as short-term stockpiling activity may quickly subside, especially given continued cost increases and greater pressure on customer spending.

July 1st - South Korea's exports continued their strong momentum in June, highlighting the robust resilience of the semiconductor boom that is underpinning economic growth. Data released Wednesday showed that South Korea's exports rose 70.9% year-on-year in June, while imports increased by 30.1%, resulting in a record trade surplus of $36.15 billion. Semiconductors once again led the growth, benefiting from strong investment related to artificial intelligence and data centers. Chip shipments increased by 199.5% year-on-year to $44.8 billion. Exports of computer-related products and petroleum products also increased by 308.8% and 49.8%, respectively. The latest data shows that South Korea's export-driven economic growth momentum remains solid, with strong semiconductor demand this year driving economic growth and partially offsetting the impact of widespread weakness in traditional industries.

Internal power struggles in Iran are threatening US-Iran peace talks, and international crude oil prices continue to fluctuate. A chart provides a quick overview of the pre-market conversion prices of crude oil between domestic and international markets.

Spot gold and silver prices surged initially before trending lower. Can spot gold hold above the $4,000 mark? A chart provides a quick overview of pre-market prices for precious metals, both domestically and internationally.

South Korea's Ministry of Oceans and Fisheries: Hyundai Merchant Marine's (HMM) cargo ship "Namu" is expected to sail out of the Strait of Hormuz in mid-July.

July 1 – On June 30, local time, the 80th UN General Assembly adopted a resolution on UN financial issues, deciding to adjust a 75-year-old financial rule. Under the new rule, during a four-year trial period, the UN will only return or credit unused funds to member states if the relevant funds are actually received and supported by cash. The resolution will take effect on July 1, 2026. For a long time, the UN has faced a unique financial predicament: under the original rule, even if some member states failed to pay their assessed contributions on time and in full, the UN might still be required to return or credit these funds to member states. This meant that the UN sometimes had to return funds that it had not actually received. The UN believes that this rule weakens the organization's financial stability and exacerbates liquidity pressures on its regular budget and peacekeeping budget.

Japan's final manufacturing PMI for June was 54.8, compared to 54.9 in the previous month.

Taiwan's Nikkei Manufacturing PMI for June was 55.2, compared to 56.1 in the previous month.

July 1st - According to US sources, Mark Zandi, chief economist at Moody's Analytics, recently published an article stating that the US-Israel war against Iran has cost each American family an average of approximately $1,000. The article states that this $1,000 includes increased fuel costs due to rising oil prices, additional shopping and travel expenses due to rising prices, and the cost of the war incurred by the US government. Zandi emphasized that the $1,000 loss per family is a conservative estimate, and the actual cost to Americans in this war may be much higher.

Bank of Japan: Most companies submitted their responses before the US-Iran peace agreement was reached on June 15, so the impact of the agreement may not have been fully reflected in the Tankan survey results.

Bank of Japan: The business sentiment index for large non-manufacturing companies hit its highest level since August 1991.

Local media reported that an explosion occurred at the Salina Cruz refinery in Oaxaca, Mexico, injuring three workers. The workers were reportedly burned while performing maintenance work at the alkylation plant.