Group 1: Hot News - The US accused China of violating the Geneva talks consensus, while China firmly opposed it and urged the US to respect facts and correct wrongdoings [2] - US President Trump raised the tariffs on imported steel, aluminum and their derivatives from 25% to 50%, effective from 00:01 on June 4, 2025, Eastern Time, except for those from the UK which remain at 25% [2] - China's Caixin Manufacturing PMI in May was 48.3, down 2.1 percentage points from April, falling below the critical point for the first time since October 2024 [2] - The OECD lowered the economic growth forecasts for the US and the world. The US growth rate in 2025 was cut from 2.2% to 1.6%, and expected to be 1.5% in 2026. The global growth forecast for 2025 dropped to 2.9%, and inflation rose to 3.2% [3] - China's metallurgical - grade alumina production in May 2025 increased by 2.66% month - on - month and 4.06% year - on - year. The actual operating capacity decreased by 0.46% month - on - month, with an operating rate of 77.3%. The average profit in the alumina industry exceeded 400 yuan/ton as of May 30 [3] Group 2: Key Focus - Commodities to focus on are urea, crude oil, soybean meal, and PVC [4] Group 3: Night - session Performance - Night - session performance of commodity sectors: Non - metallic building materials 2.65%, precious metals 30.82%, energy 2.35%, chemicals 12.74%, grains 1.51%, agricultural and sideline products 2.61%, oilseeds and fats 11.66%, soft commodities 2.38%, non - ferrous metals 19.98%, coking coal and steel ore 13.29% [4][5] Group 4: Asset Performance - Performance of major asset classes: Shanghai Composite Index daily gain 0.43%, monthly gain 0.43%, annual gain 0.30%; S&P 500 daily gain 0.58%, monthly gain 0.99%, annual gain 1.51%; Hang Seng Index daily gain 1.53%, monthly gain 0.96%, annual gain 17.21%; etc [7] - Performance of major commodities: WTI crude oil daily gain 1.36%, monthly gain 4.35%, annual loss 11.89%; London spot gold daily loss 0.83%, monthly gain 1.96%, annual gain 27.77%; etc [7]