Macroeconomics

1. [US-Iran Conflict] Sources revealed that Iran has told Yemen's Houthi rebels to blockade the Bab el-Mandeb Strait if the US attacks Iran's power grid. The Iranian military emphasized that the Strait of Hormuz is a "red line" for Iran and will not be reopened in response to US pressure. If hostile actions against Iran continue, the conflict will expand into new arenas.

2. [US-Brazil Tariffs] The US will impose a 25% tariff on certain Brazilian goods starting July 22.

3. [US Initial Jobless Claims] The number of Americans filing initial claims for unemployment benefits last week was 208,000; the forecast was 217,000, and the previous figure was 215,000.

Non-ferrous Metals

1. [Aluminum] Spot prices for aluminum ingots (AL99.70) saw a slight decline on July 16. Regional price details are as follows: the quoted price in the East China market was 23,170 RMB/ton (down 10 RMB/ton from July 15); the South China market quote was 23,160 RMB/ton (unchanged from July 15); the Southwest China market quote was 23,120 RMB/ton (down 10 RMB/ton from July 15); and the Central China market quote was 23,030 RMB/ton (unchanged from July 15).

2. [Nickel] The latest data released by the World Bureau of Metal Statistics (WBMS) shows that in May 2026, global refined nickel production stood at 301,300 tonnes and consumption at 314,700 tonnes, resulting in a supply deficit of 13,400 tonnes. For the January-May period, global refined nickel production totaled 1,500,600 tonnes and consumption was 1,474,100 tonnes, resulting in a supply surplus of 26,500 tonnes.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.