Core Viewpoint - Pakistan's National Tariff Commission has initiated an anti-dumping investigation against soda ash originating from Turkey and Kenya, responding to a request from local producers [1] Group 1: Investigation Details - The anti-dumping investigation period is set from April 1, 2024, to March 31, 2025 [1] - The damage investigation period will cover from April 1, 2022, to March 31, 2025 [1] - The preliminary ruling is expected to be made within 60 to 180 days from the date of the case filing [1]

Core Viewpoint - The Indian Ministry of Commerce has initiated a mid-term review investigation into the anti-dumping measures on jute products originating from or imported from Bangladesh and Nepal, following a request from domestic industry associations [1] Group 1: Investigation Details - The investigation will assess whether there is a need to re-evaluate the dumping margins and the extent of damage caused by exporters/producers from Bangladesh and Nepal [1] - The period for the anti-dumping investigation is set from April 2024 to March 2025, lasting 12 months [1] - The damage investigation will cover multiple periods: April 2021 to March 2022, April 2022 to March 2023, April 2023 to March 2024, and April 2024 to March 2025 [1]

Core Viewpoint - The announcement by Sanyuan Biotech regarding the preliminary ruling of the U.S. anti-dumping investigation on erythritol indicates a significant potential impact on the company's operations and market strategy due to a high anti-dumping tax rate of 450.64% [3][4]. Group 1: Investigation and Tax Implications - Sanyuan Biotech has been subjected to a preliminary anti-dumping tax of 450.64% as a mandatory respondent in the U.S. Department of Commerce's investigation [3]. - The investigation is ongoing, and the final ruling is expected to be announced on November 23, 2025 [3]. - Cargill, Incorporated has initiated a request for anti-dumping and countervailing investigations against erythritol products originating from China [3]. Group 2: Market Impact and Strategic Response - The ongoing anti-dumping and countervailing investigations have negatively affected Sanyuan Biotech's sales in the U.S. market [4]. - The company is shifting its sales strategy from an export-focused approach to a balanced domestic and international strategy, emphasizing the domestic health consumer market [4]. - Sanyuan Biotech is also expanding into emerging markets in Southeast Asia, India, the Middle East, and along the Belt and Road Initiative to mitigate the adverse effects of the U.S. market situation [4]. Group 3: Financial Performance and Market Position - Sanyuan Biotech, a leading domestic erythritol producer, entered the capital market in 2022, benefiting from a booming sugar substitute market [4]. - However, the company has faced significant challenges, including oversupply in the sugar substitute market leading to price declines and the negative impact of the anti-dumping investigation, resulting in a substantial drop in stock price [4]. - Despite some improvement in performance, the company's stock price remains low, indicating ongoing growth challenges [5].

Report Industry Investment Rating - No relevant content provided Core Viewpoints - The lead market has a supply - demand stalemate with no obvious contradictions. Tight raw materials and peak - season expectations support lead prices, and short - term prices are expected to be range - bound [1] - The zinc market has increasing supplies of both zinc ore and zinc ingots, while demand is in the off - season with an emerging inventory build - up trend. Fundamentals are weak, and short - term zinc prices are expected to be weakly range - bound. Consider shorting on rallies [1] Summary by Related Catalogs Lead Price and Market Data - The average price of SMM1 lead ingots decreased by 0.59% from the previous day, and the closing price of the main Shanghai lead contract dropped by 0.21% [1] - The LME 3 - month lead futures (electronic) closed at $1,978/ton, down 1.15% [1] News and Policies - In 2024, the GCC launched an anti - dumping investigation on lead - acid batteries from China or Malaysia. Different tariff ranges will be imposed on Chinese or Chinese - funded lead - acid battery enterprises [1] Fundamentals - There is no expected increase in lead concentrate imports, and processing fees are likely to rise. A primary lead smelter had a minor decline in production due to equipment maintenance [1] - In the secondary lead sector, waste lead - acid battery prices are likely to rise, and recyclers' supplies are limited. Secondary lead smelters face raw material shortages and cost issues, with overall low production [1] - The demand side is transitioning from the off - season to the peak season, and downstream purchasing may improve, reducing the drag on lead prices [1] Zinc Price and Market Data - The average price of SMM1 zinc ingots decreased by 0.45% from the previous day, and the main Shanghai zinc contract closed down 0.18% [1] - The LME 3 - month zinc futures (electronic) closed at $2,699.50/ton, down 0.07% [1] News and Policies - Vedanta's Q2 2025 report shows a 7% year - on - year increase in zinc concentrate production to 322,000 tons. Zinc India's production increased by 19% to 265,000 tons, and Zinc International's production increased by 50% to 57,000 tons [1] Fundamentals - Zinc smelters have sufficient raw material inventories, and zinc ore processing fees are rising. The production limit due to raw material shortages is weakening, and production is expected to increase [1] - Demand is in the off - season. Although zinc prices dropped and downstream buying increased zinc inventories, overall purchasing remains limited [1]

Core Viewpoint - The Ministry of Commerce of China has concluded an anti-dumping investigation on imported brandy from the EU, determining that there is dumping with a margin of 27.7% to 34.9%, and has accepted price commitments from 34 EU companies to avoid anti-dumping duties [3]. Group 1: Investigation Findings - The final ruling indicates that the domestic brandy industry in China is threatened by substantial damage due to dumping practices from the EU [3]. - The investigation was initiated on January 5, 2024, and followed strict adherence to Chinese laws and WTO rules, leading to a preliminary ruling on August 29, 2024 [3]. Group 2: Price Commitments - The Ministry accepted price commitments from 34 EU companies, allowing them to export without anti-dumping duties if they meet the agreed price levels [1]. - The acceptance of price commitments reflects China's cautious approach to trade remedy measures and aims to maintain fair market competition [2]. Group 3: Industry Response - The domestic brandy industry supports the final ruling and the acceptance of price commitments, while the EU industry has also welcomed this decision [2].

Core Viewpoint - The Ministry of Commerce of China has announced the final ruling on the anti-dumping investigation regarding imported brandy from the European Union, confirming the existence of dumping and substantial damage to the domestic industry, with a dumping margin of 27.7% to 34.9% [5]. Group 1: Final Ruling Details - The final ruling states that 34 EU companies' price commitments were accepted, meaning their products will not be subject to anti-dumping duties if they meet the agreed price conditions [2][5]. - The anti-dumping tax will be implemented starting from July 5, 2025, for a duration of five years, based on the Ministry's recommendation to the State Council Tariff Commission [5]. Group 2: Investigation Background - The investigation was initiated on January 5, 2024, following a request from the domestic brandy industry, and was conducted in accordance with Chinese laws and WTO rules [10]. - The products under investigation are defined as spirits obtained by distilling grape wine in containers holding less than 200 liters, commonly referred to as brandy [6][7][8]. Group 3: Considerations for Price Commitments - The acceptance of price commitments reflects China's cautious approach to trade remedy measures, aiming to maintain fair competition in the market [4]. - The domestic industry supports the final ruling and the price commitment approach, while the EU industry has also expressed approval [4].

Core Viewpoint - The Ministry of Commerce of China announced the final ruling on the anti-dumping investigation regarding imported brandy from the European Union, confirming the existence of dumping with a margin of 27.7% to 34.9% [1] Group 1: Investigation Details - The investigation was initiated on January 5, 2024, following a request from the domestic industry [1] - The final ruling was published on July 4, 2025, and the anti-dumping measures will be implemented starting July 5, 2025, for a duration of five years [1] - The investigation was conducted in accordance with laws and regulations, ensuring the rights of all stakeholders were protected [1] Group 2: Price Commitment - Some EU industry associations and companies submitted price commitment applications within the stipulated timeframe after the preliminary ruling [1] - The Ministry of Commerce accepted the price commitments that complied with Chinese laws, allowing exporters to avoid anti-dumping duties if they adhere to the agreed conditions [1] Group 3: Trade Relations - China emphasizes the cautious use of trade remedy measures and the acceptance of price commitments reflects its willingness to resolve trade disputes through dialogue [2] - There is a call for enhanced communication and cooperation between China and the EU to address economic and trade differences [2]

Group 1 - The 80th anniversary exhibition of the victory in the War of Resistance against Japan will open to the public on July 8 and will be a permanent display [1] - The Ministry of Commerce will soon make a final ruling on the anti-dumping investigation of brandy from the European Union [1] Group 2 - A total of 34 new independent new-type energy storage power stations are under construction in Inner Mongolia [3] - Beijing plans to regulate individuals renting out 10 or more housing units [3] Group 3 - The Chinese consulate in Barcelona has issued a reminder for citizens and visitors to be cautious about personal and property safety following a robbery incident [4] - The Brazilian financial system has suffered a cyber attack, prompting urgent intervention from the central bank [4] Group 4 - The police reported that all 10 individuals involved in the assault of a first-year female student have been apprehended, and the victim has received medical treatment [10] - A kindergarten in Gansu has been investigated for using additives that caused abnormal blood lead levels in some children [10]

Core Viewpoint - Brazil's Ministry of Development, Industry, Trade and Services has initiated an anti-dumping investigation against decorative paper imported from China, following a request from Brazilian producer Munksjö Caieiras Ltda. [1] Group 1: Investigation Details - The anti-dumping investigation period is set from July 2023 to June 2024, while the damage investigation period spans from July 2019 to June 2024 [1] - The products under investigation are uncoated, non-printed, and non-impregnated decorative paper rolls, with a width of 125 cm or more and a weight ranging from 50 to 150 grams per square meter [1] Group 2: Stakeholder Participation - Questionnaires will be sent to exporters, producers, importers, and other domestic manufacturers, who must submit their responses within 30 days of receipt via the SEI electronic information system [2] - Stakeholders can request a hearing within five months from the initiation of the investigation [2]

在中国商务部7月3日举行的例行新闻发布会上，商务部新闻发言人何咏前在被问及该协议对中国的 影响时表示，美国对全球贸易伙伴加征所谓"对等关税"是典型的单边霸凌做法，中方一直坚决反 对。 2025.07. 03 本文字数：757，阅读时长大约2分钟 作者 | 第一财经 高雅 据新华社报道，美国总统特朗普7月2日表示，美国已经与越南达成贸易协议。越南所有对美出口商 品将面临至少20%关税，并对美国"完全开放市场"。 何咏前称："中方注意到相关情况，正在开展评估。 中方的立场是一贯的，我们乐见各方通过平等磋 商解决与美方经贸分歧，但坚决反对任何一方以牺牲中方利益为手段达成交易。如果出现这样情况， 中方将坚决予以反制，维护自身正当权益。" 另有记者询问能否证实特朗普9月初带领企业团访华的相关报道，何咏前表示，对此没有可以提供的 信息。"但是中方的态度是一贯且明确的，希望美方与中方相向而行。在两国元首的战略引领下，本 着相互尊重、和平共处、合作共赢的原则，不断增进共识、减少误解、加强合作，共同推动中美经贸 关系健康、稳定、可持续发展。"她表示。 同时，有记者问及中方对原产于欧盟的进口相关白兰地反倾销调查，何咏前称："根据 ...