5 July 2025 | 5:29PM HKT China commodities Supply side work expectations - reform or reprieve There have been signs of renewed policy focus in addressing supply discipline, as indicated by the readout of the sixth meeting of the Central Financial and Economic Affairs Commission on July 1st. The meeting reiterated the need for China to develop a "unified national market", explicitly calling for a crackdown on overly intensive competition between firms that has caused lower prices. An orderly exit of obsolete ...

ab Global Research 3 July 2025 China Economic Comment Data Preview: Robust Q2 Growth, More Headwinds Ahead High frequency: better PMIs, weaker home sales, cooler port activities NBS manufacturing PMI edged up by 0.2ppt to 49.7 and Caixin PMI jumped by 2.1ppt to 50.4 in June, with both new orders and production index improving. NBS non- manufacturing PMI edged up by 0.2ppt to 50.5 in June with slightly softer service PMI but stronger construction PMI. 30-city property sales declined further to -10% YoY in Ju ...

Key Takeaways MT shares jumped 41.9% over the past year, outperforming its industry's 23.6% decline. ArcelorMittal expects 2025 EPS of $4.23, indicating 43.4% year-over-year growth. MT is expanding premium steel and boosting shareholder returns via buybacks and a higher dividend.ArcelorMittal S.A. (MT) shares have rallied roughly 39.1% over the past three months. We are optimistic about MT’s prospects and believe that the time is right for you to add the stock to your portfolio, as it looks promising and ...

🗒️越南针对中国热轧钢反倾销关税的文件最早是在今年2月流出，原本预计3月7日起生效，有效期120天。越南政府曾表示，去年1月至9月期间，越南进口了近880万吨热轧钢，其中72％来自中国。 ...

越南贸易部对中国热轧钢征收反倾销关税，税率从23.10%到27.83%不等。反倾销关税自2025年7月6日起生效，有效期5年。 ...

Iron ore headed toward the highest close since May as China’s renewed focus on supply-side reform lifted expectations for the country’s steel market https://t.co/qhWIthYmLS ...

For years, “Made in America” has been a slogan that many investors and consumers viewed as having more style than substance. Consumers have said they want to buy from American companies, but many of those American companies source their products from other countries. In 2025, the Trump administration is trying to put substance into that slogan. From rising geopolitical tensions to renewed focus on domestic manufacturing and energy independence, companies that build, produce, and power America are finding ne ...

June was a banner month for American steel producer Cleveland-Cliffs (CLF 7.88%). It received much investor attention after President Trump signed an executive order doubling tariffs on steel coming into this country, a move that will directly and clearly benefit Cleveland-Cliffs if it holds. Over the month, investors clearly bet it would, and traded the company's stock more than 30% higher. Steeling for a fightTrump's latest steel tariff was actually imposed weeks before the so-called "Liberation Day," whe ...

Asia Pacific Equity Research 03 July 2025 Source: NDRC, MIIT, State Council, MOHRSS, Xinhuanet, J.P. Morgan See page 3 for analyst certification and important disclosures, including non-US analyst disclosures. China Steel J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in ...

Market Overview - Wall Street ended the first day of July 2025 on a mixed note, with the S&P 500 and Nasdaq falling while the Dow Jones Industrial Average gained slightly [1] - The contrasting movements in the major stock indices were influenced by opposing forces, including a feud between President Trump and Tesla CEO Elon Musk, and the U.S. Senate's passage of Trump's tax bill aimed at stimulating economic growth [2] Investment Opportunities - Amid market uncertainty, there is a potential opportunity to invest in low-leverage stocks that are not expensive and can provide a protective shield during turbulent times [3] - Suggested low-leverage stocks include Novartis (NVS), Alamo Group (ALG), ArcelorMittal (MT), Bilibili (BILI), and Sterling Infrastructure, Inc. (STRL) [3][10] Low-Leverage Stocks - Low-leverage stocks are characterized by a lower debt-to-equity ratio, indicating reduced financial risk and improved solvency [7][8] - Investing in low-leverage stocks is recommended to avoid significant losses during economic downturns [6][7] Company Highlights - **Novartis (NVS)**: Recently completed the acquisition of Regulus Therapeutics, enhancing its drug portfolio. The Zacks Consensus Estimate for NVS's 2025 sales suggests a 7.3% improvement from 2024, with a long-term earnings growth rate of 7.9% [15][16] - **Alamo Group (ALG)**: Completed the acquisition of Ring-O-Matic, expanding its product offerings. The Zacks Consensus Estimate for ALG's 2025 earnings indicates a 7.2% year-over-year improvement [17][18] - **ArcelorMittal (MT)**: Signed an agreement to sell operations in Bosnia and Herzegovina, allowing a focus on higher-growth areas. The company has a long-term earnings growth rate of 49.8% [19] - **Bilibili (BILI)**: Reported a 24% year-over-year revenue increase and a 58% improvement in gross profit for Q1 2025. The Zacks Consensus Estimate for its 2025 sales indicates a 12.1% improvement from 2024 [20][21] - **Sterling Infrastructure (STRL)**: Announced the acquisition of CEC Facilities Group, enhancing its service portfolio in high-growth markets. The company has a long-term earnings growth rate of 15% [22][23]