Group 1 - The core viewpoint of the article highlights the progress in the China-US economic and trade consultation mechanism, with both sides reaching a principled consensus on measures to implement the important consensus from the June 5 call between the two heads of state [1] - The Chinese government is committed to responsibly managing rare earth exports, ensuring compliance with legal regulations while considering the reasonable needs of other countries in the civilian sector [1] - The external trade situation in China is characterized by resilience and vitality, with various supportive policies for foreign trade enterprises showing effectiveness [1] Group 2 - Three characteristics of the external trade situation were summarized: first, a more diversified "friend circle," with imports and exports to Belt and Road countries growing by 4.2%, ASEAN by 9.1%, and Africa by 12.4% in the first five months [2] - The second characteristic is the accelerated gathering of "new momentum," with high-tech and high-value-added products showing increased competitiveness; for instance, exports of electromechanical products grew by 9.3%, accounting for 60% of total exports, with integrated circuit exports rising by 18.9% [2] - The third characteristic is the vitality of foreign trade entities, with private enterprises' imports and exports growing by 7%, making up 57.1% of total imports and exports, and the number of foreign-funded enterprises with import and export performance increasing to 73,000 [2]

Group 1: US-China Trade Relations - The US and China have reached a framework for measures to stabilize and develop their economic relationship, following a meeting in London on June 9-10 [2] - The agreement is seen as a positive step towards "restarting" US-China trade relations, leading to a rise in Asian stock markets [2] Group 2: A-Share Market Dynamics - On June 11, the Shanghai Composite Index rose above 3400 points, with over 3400 stocks increasing in value, despite a decrease in trading volume [2] - The net buying of financing exceeded 15 billion yuan in June, while stock ETFs saw a net outflow of over 9 billion yuan, indicating mixed market sentiment [2] Group 3: US Fiscal Situation - In May, US customs tariff revenue reached a record high of 23 billion USD, a 270% increase year-on-year, but government spending was significantly higher at 687.2 billion USD [2] - The adjusted fiscal deficit for May was 316 billion USD, a 17% decrease from the previous year, but the total deficit for the first eight months of the fiscal year reached 1.37 trillion USD [2] Group 4: Oil and Gold Market Reactions - Tensions in the Middle East led to a 4.88% increase in WTI crude oil prices and a 4.33% rise in Brent crude oil prices, with gold prices also rising by over 20 USD [3] Group 5: Automotive Industry Challenges - Volvo's new models, including the XC60, have seen significant price reductions due to a 6% decline in global sales and a 12% drop in the Chinese market in Q1 [4] - The company announced a global workforce reduction of approximately 3000 employees as part of its response to declining sales and financial pressures [4] Group 6: Neta Auto's Financial Struggles - Employees of Neta Auto protested for unpaid wages, highlighting the company's financial difficulties after a failed debt-to-equity swap proposal [5] - The chairman of Neta Auto has been involved in discussions regarding the company's future, as employees are set to work from home starting June 12 [5]

商务部：敦促美方恪守世贸组织规则 共同推动中美经贸关系稳定可持续发展 在谈到中美经贸关系时，何亚东介绍，中美经贸磋商机制首次会议，讨论并达成落实两国元首6月5日通 话共识，以及日内瓦会谈共识框架，就解决双方彼此经贸关切，取得新进展。 中方反对单边加征关税措施的立场是一贯的，敦促美方恪守世贸组织规则，与中方按照相互尊重、和平 共处、合作共赢的原则，共同推动中美经贸关系稳定、可持续发展。 下一步，双方将进一步发挥好中美经贸磋商机制作用，继续保持沟通对话，不断增进共识、减少误解、 加强合作，共同推动中美经贸关系行稳致远。 针对记者提到的稀土问题，何亚东表示，中国作为负责任大国，充分考虑各国在民用领域的合理需求与 关切，依法依规对稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续 加强合规申请的审批工作。 6月12日，商务部举行新闻发布会，新闻发言人介绍近期商务领域重点工作有关情况，并答记者问。 商务部新闻发言人何亚东表示，中国作为负责任大国，充分考虑各国在民用领域的合理需求与关切，依 法依规对稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续加强合规 申请的审批工作。 ...

商务部新闻发言人何亚东表示，中国作为负责任大国，充分考虑各国在民用领域的合理需求与关切，依法依规 对稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续加强合规申请的审批工 作。 商务部介绍中美经贸磋商机制首次会议情况 何亚东介绍，当地时间6月9日至10日，中美经贸团队在英国伦敦举行中美经贸磋商机制首次会议。双方就落实 两国元首6月5日通话重要共识和巩固日内瓦经贸会谈成果的措施框架达成原则一致，就解决双方彼此经贸关切 取得新进展。 下一步，双方将进一步发挥好中美经贸磋商机制作用，继续保持沟通对话，不断增进共识、减少误解、加强合 作，共同推动中美经贸关系行稳致远。 针对记者提到的稀土问题，何亚东表示，中国作为负责任大国，充分考虑各国在民用领域的合理需求与关切， 依法依规对稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续加强合规申请 的审批工作。 商务部：敦促美方恪守世贸组织规则 共同推动中美经贸关系稳定可持续发展 在谈到中美经贸关系时，何亚东介绍，中美经贸磋商机制首次会议，讨论并达成落实两国元首6月5日通话共 识，以及日内瓦会谈共识框架，就解决双方彼此经贸关切，取 ...

何亚东称，下一步，双方将进一步发挥好中美经贸磋商机制作用，继续保持沟通对话，不断增进共识、 减少误解、加强合作，共同推动中美经贸关系行稳致远。 作。 特朗普称中美已达成协议？ 在12日的商务部例行新闻发布会上，有记者提问称，美国总统特朗普在社交平台发文称，中美已达成协 议，美国将对华征收55%的关税，中国将对美征收10%的关税，并且中国将和之前一样向美国出口磁体 和稀土材料。 对此，何亚东表示，据了解，中美经贸磋商机制首次会议讨论并达成落实两国元首6月5日通话共识以及 日内瓦会谈共识框架，就解决双方彼此经贸关切取得新进展。 何亚东称："中方反对单边加征关税措施的立场是一贯的，敦促美方恪守世贸组织规则，与中方按照相 互尊重、和平共处、合作共赢的原则，共同推动中美经贸关系稳定、可持续发展。" 在12日的外交部例行记者会上，同样有记者就特朗普日前在社交媒体发表的关于中美经贸磋商机制首次 会议的言论提问。新华社报道称，外交部发言人林剑表示，11日下午，中方已就中美经贸磋商机制首次 会议发布消息。"我要强调，本次会议是在两国元首的战略指引下举行的，双方就落实两国元首6月5日 通话重要共识和巩固日内瓦经贸会谈成果的措施框 ...

针对记者提到的稀土问题，何亚东表示，中国作为负责任大国，充分考虑各国在民营领域的 合理需求与关切，依法依规对稀土相关物项出口许可申请进行审查，已经依法批准一定数量 的合规申请，并将持续加强合规申请的审批工作。 来 源 | 央视新闻 商务部新闻发言人何亚东介绍，当地时间6月9日至10日，中美经贸团队在英国伦敦举行中美 经贸磋商机制首次会议。双方就落实两国元首6月5日通话重要共识和巩固日内瓦经贸会谈成 果的措施框架达成原则一致，就解决双方彼此经贸关切取得新进展。 下一步，双方将进一步发挥好中美经贸磋商机制作用，继续保持沟通对话，不断增进共识、 减少误解、加强合作，共同推动中美经贸关系行稳致远。 SFC 6月12日下午，商务部召开例行新闻发布会，有记者就中美经贸磋商机制首次会议情况进行提 问。 本期编辑 张嘉钰 ...

外交部发言人就中美经贸磋商机制首次会议答记者问 外交部发言人林剑12日在例行记者会上就美国总统特朗普日前在社交媒体发表的关于中美经贸磋商机制 首次会议的言论答记者问。 林剑说，11日下午，中方已就中美经贸磋商机制首次会议发布消息。 关于你提到的稀土问题，中国作为负责任大国，充分考虑各国在民营领域的合理需求与关切，依法依规对 稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续加强合规申请的审批 工作。 综合自：央视新闻 责编： 王璐璐 校对：杨舒欣 "我要强调，本次会议是在两国元首的战略指引下举行的，双方就落实两国元首6月5日通话重要共识和巩 固日内瓦经贸会谈成果的措施框架达成原则一致，就解决双方彼此经贸关切取得新进展。"他说。 林剑指出，中方一向言必行、行必果。既然达成了共识，双方都应遵守。希望美方同中方一道落实两国元 首通话达成的重要共识，发挥中美经贸磋商机制作用，通过沟通对话增进共识、减少误解、加强合作。 在回答中美关系相关提问时，林剑表示，中方一向本着相互尊重、和平共处、合作共赢的精神看待和处理 中美关系，我们在对美关系上的立场是一贯的、明确的。 商务部介绍中美经贸磋商机制首次会 ...

6月12日下午，商务部召开例行新闻发布会，有记者就中美经贸磋商机制首次会议情况进行提问。 下一步，双方将进一步发挥好中美经贸磋商机制作用，继续保持沟通对话，不断增进共识、减少误解、 加强合作，共同推动中美经贸关系行稳致远。 此外 ，商务部新闻发言人何亚东表示，中国作为负责任大国，充分考虑各国在民用领域的合理需求与 关切，依法依规对稀土相关物项出口许可申请进行审查，已经依法批准一定数量的合规申请，并将持续 加强合规申请的审批工作。 商务部新闻发言人何亚东：当地时间6月9日至10日，中美经贸团队在英国伦敦举行中美经贸磋商机制 首次会议。双方就落实两国元首6月5日通话重要共识和巩固日内瓦经贸会谈成果的措施框架达成原则 一致，就解决双方彼此经贸关切取得新进展。 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The report suggests treating the market with a strategy of short - selling on rebounds [4] - Although the market rebounded due to the positive outcome of the Sino - US talks, it is currently in the off - season of demand, and there is still room for further decline in the short term [3] Group 3: Summary According to Related Content Market Situation - From June 9th to 10th local time, the first meeting of the Sino - US economic and trade consultation mechanism was held in London. The two sides reached a principled agreement on the measures framework for implementing the important consensus of the leaders' phone call on June 5th and consolidating the results of the Geneva economic and trade talks, and made new progress in addressing each other's economic and trade concerns [3] - This week, the average含税 cost of steel billets of mainstream sample steel mills in Tangshan was 2,832 yuan/ton, a week - on - week decrease of 30 yuan/ton. Compared with the current ex - factory price of common square billets of 2,920 yuan/ton on June 11th, the average profit of steel mills was 88 yuan/ton, a week - on - week increase of 60 yuan/ton [3] - On June 11th, the ex - factory含税 price of common square billet resources in Qian'an, Tangshan increased by 20 yuan in total, reaching 2,920 yuan/ton [3] Market Outlook - The market rebounded yesterday, and market sentiment improved slightly due to the Sino - US talks. However, it has entered the off - season of demand, and there is little chance of effective improvement in downstream demand in the short term, with further decline possible [3] Suggestion - It is still recommended to try short - selling on rebounds based on the current situation [3][4] Factors to Watch - Macro - policies and downstream demand conditions should be monitored in the later stage [4]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Copper prices are likely to maintain high - level oscillations due to factors such as the uncertain outcome of Sino - US economic and trade negotiations, weak domestic economic data, the transition from peak season to off - season, and low inventory [1]. - Aluminum prices are affected by the Sino - US talks and the approaching off - season. It is recommended to closely monitor the results of the Sino - US talks [2]. - Nickel is expected to experience weak oscillations in the medium - to - long term due to cost support and supply surplus [3][5]. - Tin prices are expected to oscillate, and it is advisable to conduct range trading, while paying attention to supply resumption and downstream demand [6]. Summary by Related Catalogs Basic Metals Copper - As of June 11, the Shanghai copper main 07 contract rose 0.2% to 79,290 yuan/ton. The Sino - US economic and trade negotiation has not made a breakthrough, but the US side is optimistic. The market expects the US to impose tariffs on copper, which has led to a halving of LME copper inventory in the past three months. The domestic spot market has low downstream consumption, low social inventory, and a narrowing BACK spread. The negative low level of copper ore smelting TC exerts continuous pressure on the supply outlook [1]. Aluminum - As of June 11, the Shanghai aluminum main 07 contract rose 1.25% to 20,250 yuan/ton. Mining disruptions in Guinea will impact the import volume of bauxite in July. The operating capacity of alumina has increased, and the inventory has decreased. The operating capacity of electrolytic aluminum remains stable. The downstream processing enterprise's operating rate has declined, and the inventory of aluminum ingots and aluminum rods has decreased. The 232 steel and aluminum tariffs in the US have increased, and the impact of the off - season is gradually emerging [2]. Nickel - As of June 11, the Shanghai nickel main 07 contract rose 0.11% to 121,790 yuan/ton. The US PMI is expanding, and the euro - zone PMI is contracting. Domestically, the LPR has been lowered. The nickel ore market in Indonesia is tight, and the downstream nickel - iron is in a loss state. The refined nickel has a surplus, and the LME inventory has increased. The demand for stainless steel is average, and the price of nickel sulfate is pushed up by cost but has limited demand [3][5]. Tin - As of June 11, the Shanghai tin main 07 contract rose 0.69% to 265,530 yuan/ton. In May, domestic refined tin production decreased, and in April, tin concentrate imports increased. The supply of tin ore is gradually improving, and the inventory has decreased. The semiconductor industry is expected to recover, but the US tariff policy may suppress downstream demand [6]. Spot Transaction Summary Copper - Domestic spot copper prices rose slightly. Sellers were reluctant to cut prices, and buyers were waiting and watching, resulting in a stalemate in the market [7]. Aluminum - Spot aluminum market transactions improved. Sellers were reluctant to sell due to low inventory, and buyers were less willing to chase up prices. Long - term orders supported trading activity, and the market showed a situation of more buying than selling in the afternoon [8]. Alumina - Spot market transactions were light. Sellers maintained a price - holding strategy, while buyers were waiting and watching, resulting in poor transactions [9]. Zinc - Spot zinc market prices fell. Sellers were forced to cut prices, and buyers only made purchases to meet rigid demand, with low overall purchasing willingness [10]. Lead - Spot lead market prices rose slightly. Traders' discount quotes narrowed, and they were waiting for price corrections to replenish inventory. Recycled lead enterprises were more willing to sell, and transactions were concentrated on low - priced goods [11][12]. Nickel - Spot nickel market prices fell. Market transactions were cautious, and trading was light [13]. Tin - Spot tin market prices rose. Market transactions were cautious, and trading was light [14]. Warehouse Receipt and Inventory Report - SHFE copper futures warehouse receipts decreased by 373 tons to 33,373 tons; LME copper inventory decreased by 950 tons to 119,450 tons. SHFE aluminum futures warehouse receipts decreased by 75 tons to 47,468 tons; LME aluminum inventory decreased by 2,300 tons to 357,600 tons. SHFE zinc futures warehouse receipts remained unchanged at 3,075 tons; LME zinc inventory decreased by 1,975 tons to 132,575 tons. SHFE lead futures warehouse receipts increased by 399 tons to 42,597 tons; LME lead inventory decreased by 4,500 tons to 273,525 tons. SHFE nickel futures warehouse receipts increased by 72 tons to 21,113 tons; LME nickel inventory decreased by 618 tons to 197,508 tons. SHFE tin futures warehouse receipts decreased by 56 tons to 6,810 tons; LME tin inventory decreased by 50 tons to 2,365 tons [15].