en.Wedoany.com Reported - At the close of China's futures market on July 1, non-ferrous metals on the domestic market generally declined, with only Shanghai zinc and Shanghai tin rising 0.64% and 0.07% respectively, while Shanghai lead led the decline with a drop of 1.09%. The main contract for alumina fell 0.14%, and the main contract for cast aluminum fell 0.95%. The main contract for lithium carbonate rose 4.62%, the main contract for polysilicon rose 1.79%, the main contract for industrial silicon fell 0.12%, and the main contract for Europe-bound container shipping fell sharply by 10.94%, closing at 2528 points.

In the ferrous sector, except for stainless steel which edged up 0.03%, all other varieties declined. Iron ore fell 1.68%, hot-rolled coil fell 0.79%, and rebar fell 0.55%. In the coking sector, coking coal fell 1.06%, and coke fell 2.38%.

As of 15:04, base metals on the external market collectively declined, with LME copper, LME aluminum, LME zinc, and LME tin all falling over 1%, down 1.17%, 1.5%, 1.1%, and 1.94% respectively. In precious metals, COMEX gold fell 1.3%, COMEX silver fell 3.28%; domestic Shanghai gold fell 0.59%, and Shanghai silver fell 0.44%. The main contract for platinum fell 2.08%, and the main contract for palladium fell 2.18%.

On the macro front, the People's Bank of China conducted a 100 billion yuan 7-day reverse repurchase operation today at an operation rate of 1.4%. With 662.5 billion yuan in 7-day and 600 billion yuan in overnight reverse repurchase maturing, the open market achieved a net withdrawal of 1,162.5 billion yuan. Shenzhen's housing market saw June transaction volumes hit a nearly six-year high. According to data from Shenzhen Centaline Research Center, total transactions of new and second-hand homes in Shenzhen in June reached 8,878 units, down 11.9% month-on-month but up 14.2% year-on-year, marking the highest level for the same period since 2021. Among them, online signing of new homes (pre-sale + spot) totaled 3,785 units, down 16.7% month-on-month but up 15.6% year-on-year; second-hand home transfers reached 5,093 units, down 8% month-on-month but up 13.1% year-on-year. The central parity rate of the renminbi against the US dollar was set at 6.8067 yuan per dollar.

As of 15:04, the US dollar index rose 0.16% to 101.33. The US federal funds rate futures further declined, suggesting an approximately 80% probability of a Fed rate hike in September. 2026 FOMC voter and Cleveland Fed President Beth Hammack stated that the labor market is near full employment with good growth prospects, but inflation remains too high, and the Fed may need to consider raising rates. She declined to prejudge whether a rate hike is needed in July and emphasized that core inflation remains elevated, with artificial intelligence investment exerting upward pressure on inflation. A Reuters economist survey estimates that the June nonfarm payrolls report, due Thursday, will show an increase of approximately 110,000 jobs, following a gain of 172,000 in May; the unemployment rate is expected to hold steady at 4.3% for the fourth consecutive month. Goldman Sachs expects the June US nonfarm payrolls data to be significantly disrupted by temporary hiring for the US-Canada-Mexico World Cup, with seemingly strong readings potentially masking weakening underlying employment momentum. US Treasury Secretary Bessent also stated he would not be surprised if June employment data is very strong. Amid inflationary pressures from the US-Israel conflict with Iran, financial markets are broadly betting on a Fed rate hike this year. According to CME FedWatch data, the probability of the Fed keeping rates unchanged in July is 66.3%, with a 33.7% chance of a cumulative 25-basis-point hike; the probability of keeping rates unchanged in September is 33.1%, with a 50.0% chance of a cumulative 25-basis-point hike and a 16.9% chance of a cumulative 50-basis-point hike.

In crude oil, as of 15:04, both benchmark oil prices edged up, with WTI crude rising 0.01% and Brent crude rising 0.04%. In the first half of 2026, due to geopolitical conflicts, WTI crude accumulated a gain of 21.6%, and Brent crude accumulated a gain of 20%. According to preliminary vessel tracking data from Kpler and Vortexa, shortly after leaving OPEC, the UAE boosted its crude and condensate exports to a record high in June. Kpler senior oil analyst Rauball stated that the UAE's crude and condensate exports averaged approximately 3.7 million barrels per day this month, a record high and well above the pre-Middle East conflict level of 3.1 to 3.3 million barrels per day. The UAE's previous export peak was in April 2020, reaching 3.44 million barrels per day when Saudi Arabia and Russia sparked a brief oil price war. Vortexa senior oil analyst Emma Li stated that from June 1 to 29, Abu Dhabi's crude loading volumes reached 4 million barrels per day, exceeding the pre-war level of 3.4 million barrels per day. Export volumes also rose to a record high of 3.7 million barrels per day, compared to 3.3 million barrels per day in the first two months of this year.

Today will also see the release of US June Challenger job cuts, US June ADP employment data, US June S&P Global Manufacturing PMI final, US June ISM Manufacturing PMI, US May construction spending month-on-month, as well as final manufacturing PMI data for the UK, France, Germany, the Eurozone, and other countries, and the Eurozone June CPI data. Fed Chair Warsh, ECB President Lagarde, BOE Governor Bailey, and Bank of Canada Governor Macklem will speak at the ECB Global Central Bank Forum's "Policy Panel" event. The Davos Technology Summit will be held from July 1 to 4, with the theme "Physical AI and Robotics." It is noteworthy that on July 1, the Hong Kong Stock Exchange is closed for one day due to the Hong Kong Special Administrative Region Establishment Day, with southbound and northbound trading suspended; the Toronto Stock Exchange is closed for one day due to Canada Day.