Group 1 - The domestic futures market in the energy and chemical sector showed significant gains, while plywood futures experienced a downward trend, with the main contract reported at 152.10 yuan/ton, a slight decrease of 0.20% [1] Group 2 - The China Iron and Steel Association held its 11th expanded council meeting, highlighting the ongoing imbalance between total supply and demand in the steel industry [2] - The demand for steel in the construction industry continues to decline, leading to a more pronounced trend of localized sales for rebar, which remains a key circulating material and price benchmark in the steel market [2] - The association emphasized the importance of self-discipline among enterprises to stabilize production and prices, adhering to the "three determinations and three non-allowances" principle [2] - On July 29, the national building materials transaction volume reached 122,100 tons, an increase of 20.41% compared to the previous trading day [2] - As of June 2025, China's steel exports were 9.678 million tons, a decrease of 8.5% from the previous month, marking the first decline since March of this year, with an export average price of 687.1 USD/ton, down 1.6% from the previous month [2]

Core Viewpoint - The Dalian Commodity Exchange (DCE) has optimized its delivery-related rules, effective from July 1, 2025, to enhance market understanding and participation in delivery processes [1] Group 1: Delivery Methods - The optimization integrates daily selection delivery into rolling delivery, allowing both rolling and one-time deliveries to support vehicle board delivery methods [1] - The eligible futures products for vehicle board delivery remain unchanged, specifically eggs, live pigs, plywood, and logs [1] - Customers participating in rolling delivery can choose between vehicle board delivery or standard warehouse receipt delivery, while those in one-time delivery are limited to standard warehouse receipt delivery [1] Group 2: Rolling Delivery Application Process - A unified intention declaration and matching rule for rolling delivery is a key focus of the optimization [2] - Sellers can submit rolling delivery applications through members from the first trading day to the day before the last trading day of the delivery month, with applications not exceeding their net short positions [2] - The exchange will review these applications and publish approved seller delivery application details daily, with applications being irrevocable once submitted [2] Group 3: Seller Obligations - Sellers must ensure that their net short positions are greater than or equal to the approved rolling delivery application quantity at the time of matching [3] - If a seller's net short position is less than the approved application quantity during the matching process, they will be prohibited from submitting seller applications for rolling delivery in that product for one year [3]