Shaanxi Urges Coal Producers to Increase Output Amid Summer Energy Demand

Review today's market trends and stay on top of the latest developments. Good morning, listeners. Today is Tuesday, June 9, 2026. Welcome to Futures Morning Rush. Futures Morning Rush — the top choice for millions of futures professionals!

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1. According to Iran’s Fars News Agency: Iran’s armed forces have announced the end of their military action against Israel, warning that stricter retaliation will be taken if Israel resumes attacks on Lebanon.

2. U.S. President Trump: Israel and Iran are seeking an immediate ceasefire. Final negotiations for peace are underway, but may be hindered by ignorance or reckless actions. The blockade will remain fully in effect until a final agreement is reached.

3. The Shaanxi Development and Reform Commission has issued a notice on ensuring energy supply for the 2026 summer peak demand period. The notice calls for solidifying stable coal production and supply. Development and reform departments in all coal-producing cities must fulfill their local responsibilities, urging coal enterprises to legally and compliantly release advanced production capacity under safe conditions, ensuring maximum and stable output with increased production.

4. A Reuters survey released forecasts for U.S. crop ending stocks in the USDA’s June supply and demand report, with analysts expecting average ending soybean stocks for the 2026/27 marketing year at 312 million bushels, within a range of 293 to 342 million bushels, compared to the USDA’s May estimate of 310 million bushels.

5. Indonesia’s Minister of Mining, Bahlil Lahadalia, stated that Indonesia may loosen mining production quotas if prices are favorable. Bahlil said: “Regarding the RKAB for commodities including coal, we are carefully assessing the impact of geopolitical tensions in the Middle East and global price fluctuations.”

1. The Party Committee of the State Financial Regulatory Administration convened an expanded meeting to study and deploy key tasks in the near term. The meeting emphasized the need to genuinely strengthen a sense of responsibility and urgency in preventing and resolving financial risks, steadily advance the resolution of risks at local small and medium-sized financial institutions, and firmly uphold the bottom line of avoiding “defaults.” It further highlighted the importance of leveraging the “delivery guarantee” white list system and accelerating the development of financing mechanisms aligned with the new model of real estate development. It also stressed active cooperation in resolving local government debt risks and supporting the exit and transformation of financing platforms.

2. On local time on the 8th, the Israel Defense Forces stated that earlier that day, under the direction of its intelligence agency, dozens of Israeli Air Force fighter jets carried out a large-scale strike on Iran’s strategic defense systems. The IDF said Iran had recently deployed defense systems in multiple locations in an attempt to restore its detection and defensive capabilities damaged in prior military conflicts. The IDF stated that these systems have been destroyed by the strike.

3. According to the Iranian Ministry of Foreign Affairs, when asked whether negotiations between Iran and the United States have been suspended, a spokesperson responded: "Communication with the United States is still ongoing, and Pakistan’s Interior Minister’s visit to Tehran is helping to advance the negotiations."

4. According to data from the Shanghai Shipping Exchange, as of June 8, 2026, the Shanghai Export Containerized Freight Rate Index (Europe Route) stood at 2500.89 points, up 22.7% compared to the previous period.

5. U.S. President Trump: Israel and Iran are seeking an immediate ceasefire. Final negotiations for peace are underway, but may be hindered by ignorance or reckless actions. The blockade will remain fully in effect until a final agreement is reached. Matters should move forward swiftly.

6. According to Iran’s Fars News Agency: Iran’s armed forces have announced the end of their military operations against Israel, warning that stricter retaliation will be taken if Israel resumes attacks on Lebanon.

1. International precious metals futures generally closed lower; COMEX gold futures fell 0.26% to $4,353.80 per ounce, and COMEX silver futures fell 1.13% to $68.33 per ounce.

2. The main contract for U.S. crude oil closed up 0.82% at $91.28 per barrel; the main contract for Brent crude oil rose 1.1% to $94.11 per barrel.

3. London base metals showed mixed movements: LME copper rose 0.53% to $13,590.5 per ton, LME aluminum rose 0.43% to $3,607.5 per ton, LME zinc rose 0.13% to $3,534.5 per ton, LME lead fell 0.82% to $1,988.5 per ton, LME nickel fell 0.97% to $18,400.0 per ton, and LME tin fell 1.58% to $52,100.0 per ton.

4. As of the close at 23:00 on June 8, domestic futures main contracts showed mixed movements: coal coke fell over 6%, coke fell over 3%, caustic soda fell over 2%, fuel oil fell over 2%, low-sulfur fuel oil (LU) fell nearly 2%, liquefied petroleum gas (LPG) fell over 1%, and glass fell nearly 1%. On the gains side, PTA, starch, para-xylene, and ethylene glycol (EG) rose over 1%, while asphalt, bottle flakes, and corn rose nearly 1%.

1. From June 1 to June 7, 2026, the total iron ore arrivals at China’s 47 ports amounted to 28.901 million tons, an increase of 1.468 million tons环比; the total iron ore arrivals at China’s 45 ports amounted to 27.312 million tons, an increase of 1.653 million tons环比; the total iron ore arrivals at the six northern ports amounted to 13.803 million tons, an increase of 1.386 million tons环比.

2. According to Mysteel, some steel mills in the Xingtai region will raise prices for wet-quenched coke by RMB 50/ton and dry-quenched coke by RMB 55/ton, effective at midnight on June 10, 2026. Major steel mills in the Tangshan market also plan to raise prices for wet-quenched coke by RMB 50/ton and dry-quenched coke by RMB 55/ton, effective at midnight on June 10, 2026.

3. From June 1 to June 7, 2026, the total global iron ore shipment by Mysteel reached 35.47 million tons, an increase of 1.73 million tons环比. The total iron ore shipment from Australia and Brazil amounted to 29.193 million tons, an increase of 0.931 million tons环比.

4. Indonesia’s Minister of Mining, Bahlil Lahadalia, stated that Indonesia may loosen mining production quotas if prices are favorable. Bahlil said, “Regarding RKAB for commodities including coal, the geopolitical tensions in the Middle East and the impact of global price fluctuations are being carefully assessed. Ideally, the government, business community, and public all hope for sufficient production when prices are strong,” and added that any increase in production would be carefully evaluated.

5. According to the latest survey by Mysteel on June 8, starting from May 23, a total of 135 coking coal mines in Shanxi province ceased operations, with a combined capacity of 154.9 million tons. As of the morning of June 8, 70 mines had resumed operations, with a combined capacity of 85.15 million tons, while 65 mines remained shut down, with a combined capacity of 69.75 million tons.

6. The Shaanxi Provincial Development and Reform Commission issued a notice on ensuring energy supply for the 2026 summer peak demand period. The notice calls for solidifying stable coal production and supply. Development and reform departments in coal-producing cities must fulfill their local responsibilities and urge coal enterprises to legally and compliantly release advanced production capacity under safe conditions, ensuring maximum and stable output with increased production. Power generation companies must strictly enforce the daily reporting system for coal inventories, raising the average coal stockpile duration for centrally dispatched power plants to over 20 days before the peak season, and dynamically clearing any plant with stockpiles below 15 days during the peak period.

According to data from the China Passenger Car Association, from May 1 to May 31, nationwide passenger vehicle retail sales reached 1.51 million units, a 22.1% year-over-year decline and a 9.2% month-over-month increase; cumulative retail sales for the year to date totaled 7.099 million units, down 19.5% year-over-year. In May, new energy passenger vehicle retail sales reached 950,000 units, a 7.5% year-over-year decline and a 12.4% month-over-month increase; cumulative new energy passenger vehicle retail sales from January to May totaled 3.697 million units, down 15.1% year-over-year.

2. According to Longzhong Information, this week, the total inventory of soda ash in China amounted to 1.6859 million tons, a decrease of 31,900 tons from last Thursday, or a 1.86% decline. Of this, light soda ash inventory stood at 1.02 million tons, down 24,100 tons week-over-week, while heavy soda ash inventory was 665,900 tons, down 7,800 tons week-over-week.

3. Aramco: Saudi Arabia set the official selling price for Arab Light crude oil sold to Asia in July at a premium of $9.50 per barrel over the Oman/Dubai average, a reduction of $6 per barrel.

According to Mysteel, from June 1 to June 8, 2026, a total of 840,000 metric tons of Australian lithium concentrate were shipped to China, an increase of 370,000 metric tons week-over-week, with a weekly average shipment volume of 695,000 metric tons to China.

2. In May 2026, the capacity utilization rate of domestic polysilicon manufacturers in China reached 30.63%, an increase of 1.0% compared to April. Although current polysilicon prices have approached the cash cost line for most manufacturers, some producers have opted for a modest increase in production to maintain basic operations and fulfill orders, anticipating the launch of utility-scale photovoltaic projects by the end of the second quarter and the gradual ramp-up of newly restarted capacity in regions such as Inner Mongolia.

3. Data released by Chilean customs shows that Chile’s copper exports in May amounted to 136,010 tons, with 25,875 tons exported to China. Chile’s exports of copper ore and concentrate in May totaled 1,212,905 tons, of which 535,508 tons were exported to China. Chile’s lithium exports in May reached 20,495 tons, including 19,133 tons of lithium carbonate, with 13,601 tons of lithium carbonate exported to China.

1. Southern Henan is expected to reduce planting area, leading to a short-term surge in peanut inventory and prices.

Xinhu Futures noted that Henan is currently in the peanut planting season, and spring peanut planting in Shandong is nearly complete. Surveys indicate that the expected planting area for spring peanuts in Henan has decreased year-over-year due to poor weather conditions last season, resulting in reduced yields, higher harvesting costs, and losses. In Shandong, surveys show that the new season’s planting area is expected to continue declining, due to the region’s hilly terrain, low mechanization rates for peanuts, and higher profitability from alternative cash crops such as vegetables. In Northeast China, the expected planting area for the new season is rising, driven by strong returns from last season’s crop. Last year, favorable weather in the Northeast Baisha production area led to record-high yields. Meanwhile, last season’s Henan peanuts suffered from prolonged rainy weather, resulting in poor quality and making relatively higher-quality Northeast peanuts more attractive to the market and capital. Higher prices have boosted returns from last season’s Northeast peanuts and increased farmers’ willingness to plant this season. Planting of spring peanuts in Henan is not yet fully complete, and summer peanut planting is also underway; attention will now turn to post-planting assessments of Henan’s planting area. The key focus remains on weather conditions during the new crop’s growth and harvest periods, which will determine the total output and quality of this season’s harvest.

2. Rising expectations of Fed rate hikes lead to a sharp decline in silver prices

Everbright Futures noted that last Friday’s U.S. May non-farm payroll data showed non-farm employment increased by 172,000 jobs, significantly exceeding the market expectation of 85,000, while April’s figure was revised upward to 179,000. The unemployment rate remained unchanged at 4.3%. Amid the resilience of the economy and labor market, coupled with persistent inflationary pressures, market expectations for Fed rate cuts were rapidly scaled back, while expectations for rate hikes further intensified. In the short term, under the influence of pessimistic sentiment, silver prices may continue to trade weakly. Looking ahead, the market’s primary focus will be on the Fed’s June monetary policy meeting. Although the market has now priced in near-zero probability of a Fed rate cut this year, the likelihood of a hike has steadily risen in market pricing; investors still hope to gain insight into the Fed’s assessment of inflation and its outlook on future rate cuts.

1. TBA on June 9: China's May imports, exports, and trade balance;

2. June 10, 09:30: China's May annual CPI and PPI;

3. June 10, 12:30, Malaysia MPOB Palm Oil Supply and Demand Report for May;

4. June 10, 20:30, U.S. May seasonally adjusted CPI monthly and annual rates;