Trump Approaches Order for New Strikes on Iranian Infrastructure

Review today's market trends and stay on top of the latest developments. Good morning, listeners. Today is Thursday, June 11, 2026. Welcome to Futures Morning Rush. Futures Morning Rush — the top choice for millions of futures professionals!

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1. National economic data shows that in May 2026, the national consumer price index rose 1.2% year-over-year and fell 0.1% month-over-month.

2. President Trump said on Fox News that he is close to ordering new strikes on Iran’s infrastructure, including power plants and bridges, and accused Tehran of delaying negotiations and refusing to accept the agreement Washington believes should have been reached.

3. The U.S. Department of Labor stated on Wednesday that the CPI increased by 4.2% year-over-year in May, accelerating from 3.8% the previous month.

4. Malaysia's palm oil inventory in May was 2,427,835 tons, an increase of 5.15% month-over-month.

5. According to Mysteel, Shanxi Province is conducting risk and hazard inspections and rectifications in key areas such as non-coal mines and tailing ponds; this incident currently affects approximately 2 million tons per year of alumina production capacity.

6. Iran: Closing the Strait of Hormuz; attempts to pass through will be met with force.

1. National economic data shows that in May 2026, the national consumer price index rose 1.2% year-over-year. From January to May, the national consumer price index increased 1.0% compared with the same period last year. In May, the national consumer price index declined 0.1% month-over-month.

2. According to Iranian media on the 10th, Iranian military sources stated that 70% of the intended targets were successfully hit during Iran’s counterstrike against U.S. forces on the same day. The source said that Iran’s armed forces launched long-range ballistic missiles and drones that penetrated the defense systems of U.S. bases, striking the intended targets at the U.S. base in Azraq, Jordan; the U.S. base in Ali Al Salem, Kuwait; and the U.S. Fifth Fleet base in Bahrain.

3. According to Iran’s SNN News Agency: When asked about negotiations with the United States, Iranian Foreign Ministry Spokesperson Baghaei stated that Tehran needs to reassess the situation following yesterday evening’s clashes.

4. Trump posted on social media that Iran’s military has been completely defeated. Most of their armed forces, including their navy and air force, no longer exist—they have been utterly defeated. Iran only talks without taking action. They spent too long negotiating a deal favorable to them, and now they will have to pay the price.

5. On June 10, Director Zheng Zhanjie of the National Development and Reform Commission chaired a symposium with economic experts. Zheng stated that the NDRC will accelerate the construction of a modern industrial system and fully implement the "AI+" initiative; continuously strengthen reform and innovation, further advance the building of a unified national market, and thoroughly address "cutthroat" competition; meanwhile, it will promptly study and prepare a set of targeted and actionable policy tools to be implemented as needed.

6. President Trump stated on Fox News that he is close to ordering new strikes on Iran’s infrastructure, including power plants and bridges, and accused Tehran of delaying negotiations and refusing to accept the agreement Washington believes should have been reached.

7. The U.S. Department of Labor stated on Wednesday that the CPI increased by 4.2% year-over-year in May, accelerating from 3.8% the previous month. This is the highest year-over-year increase since April 2023, indicating that elevated energy costs stemming from the conflict with Iran continue to drive price pressures. There is currently little indication that tankers will receive consistent permission to transit the Strait of Hormuz, suggesting that supply pressures in global energy markets are expected to persist.

8. U.S. Central Command: At 5:15 p.m. Eastern Time today, additional defensive strikes were initiated against multiple targets within Iran. These strikes are in response to Iran’s unprovoked and ongoing acts of aggression.

9. According to the Iranian Students' News Agency, Iran's Supreme Joint Military Command stated that, in light of ongoing U.S. aggression and its recent attacks on multiple areas in southern Hormozgan Province, the Strait of Hormuz is now closed to all vessels, including tankers and commercial ships; any vessel attempting to pass will be targeted.

1. International precious metals futures generally closed lower; COMEX gold futures fell 4.49% to $4,094.10 per ounce, and COMEX silver futures dropped 2.67% to $63.50 per ounce.

2. The main contract for U.S. crude oil closed up 4.14% at $91.85 per barrel; the main contract for Brent crude oil rose 3.88% to $95 per barrel.

3. All base metals in London ended lower: LME tin fell 0.95% to $52,005.0 per ton, LME lead fell 1.08% to $1,962.5 per ton, LME copper fell 1.22% to $13,449.0 per ton, LME aluminum fell 1.51% to $3,494.0 per ton, LME nickel fell 1.85% to $17,730.0 per ton, and LME zinc fell 2.45% to $3,468.5 per ton.

4. As of the close at 23:00 on June 10, the majority of domestic futures main contracts rose, with liquefied petroleum gas (LPG), low-sulfur fuel oil (LU), and coke rising over 2%, fuel oil rising nearly 2%, and propylene, ethylene glycol (EG), methanol, and soybean oil 2 rising over 1%. On the downside, synthetic rubber fell nearly 1%.

1. According to the latest survey by Mysteel: Starting May 23, a total of 137 coking coal mines in Shanxi province ceased production, with a combined capacity of 158.5 million tons. As of June 10, a total of 81 mines have resumed production, with a combined capacity of 97.3 million tons; 56 mines remain shut down, with a combined capacity of 61.2 million tons.

2. For the week ending June 10, according to data from Zhonggang Network, the national construction materials production reached 4.8064 million tons, an increase of 0.0336 million tons from the previous week; factory inventory stood at 5.0067 million tons, up 0.0222 million tons from the previous week; social inventory was 6.1432 million tons, down 0.0178 million tons from the previous week; total inventory amounted to 11.1499 million tons, up 0.0044 million tons from the previous week; apparent demand reached 4.8020 million tons, an increase of 0.0380 million tons from the previous week.

3. Dalian Commodity Exchange announces that, starting from trading on June 12, 2026 (i.e., during the night session on June 11), non-futures company members or clients shall not open more than 500 contracts per day in any coke futures contract; starting from the settlement on June 12, 2026 (Friday), the margin requirements for speculative and hedging transactions in coke futures contracts will be adjusted from 20% and 15% to 12%, respectively.

1. Latest data from the Fujairah Oil Industrial Zone in the UAE shows that as of the week ending June 8, total product inventories at the Fujairah port amounted to 5.377 million barrels, an increase of 165,000 barrels from the previous week. Light distillate inventories decreased by 205,000 barrels to 2.057 million barrels; medium distillate inventories increased by 40,000 barrels to 1.268 million barrels; and heavy residual fuel oil inventories rose by 330,000 barrels to 2.052 million barrels.

2. According to Longzhong Information, as of June 10, 2026, the total port inventory of methanol in China stood at 566,100 metric tons, a decrease of 67,400 metric tons from the previous period. Inventory declined by 61,200 metric tons in the East China region and by 6,200 metric tons in the South China region. This week, methanol port inventory continued to decline, with 58,200 metric tons of visible unloading from foreign vessels accounted for during the period.

3. Data released by the Petroleum Association of Japan (PAJ) on Wednesday showed that Japan’s commercial crude oil inventories as of June 6 stood at 95.367 million kiloliters, a decrease of 480,004 kiloliters from the previous week’s 100.167 million kiloliters.

4. EIA Report: For the week ending June 5, U.S. crude oil exports decreased by 1.034 million barrels per day to 4.84 million barrels per day. Commercial crude oil inventories, excluding strategic reserves, fell by 7.227 million barrels to 426 million barrels, a 1.67% decline. U.S. Strategic Petroleum Reserve (SPR) inventories decreased by 7.297 million barrels to 349.2 million barrels, a 2.22% drop—the lowest level since the week of August 18, 2023. U.S. commercial crude oil imports, excluding strategic reserves, stood at 5.888 million barrels per day, down by 509,000 barrels per day from the prior week.

5. A Reuters survey found that OPEC’s crude oil production in May fell to its lowest level in over two decades, as U.S. Navy blockades impacted Iran’s exports, and Iran’s effective closure of the Strait of Hormuz significantly reduced exports from other Gulf nations. The survey showed OPEC’s daily output dropped by 1.06 million barrels month-over-month to 16.13 million barrels—the lowest monthly figure since 2000 and well below levels seen during the demand collapse of the 2020 COVID-19 pandemic.

6. U.S. President Trump posted on a social media platform: Last month, I directed the U.S. military to carry out a secret mission to support oil tankers and other commercial vessels passing through the Strait of Hormuz. This operation has successfully enabled over 100 million barrels of oil to pass through the Strait of Hormuz and enter the open market.

1. According to SMM analysis, the volume of bauxite exported from major ports in Guinea in May 2026 was 17.5 million tons, a 21.1% month-over-month decline, with year-over-year growth narrowing to 10.9%. As a result, arrivals of Guinean bauxite in China are expected to decline in June and July.

2. According to data from the China Passenger Car Association, from June 1-7, retail sales of passenger vehicles nationwide totaled 228,000 units, a 23% year-over-year decline and an 11% month-over-month decline; cumulative retail sales since the beginning of the year reached 7.327 million units, down 20% year-over-year. From June 1-7, wholesale shipments by passenger vehicle manufacturers nationwide totaled 204,000 units, a 25% year-over-year decline but a 10% month-over-month increase; cumulative wholesale shipments since the beginning of the year reached 10.39 million units, down 6% year-over-year.

3. Zhongkuang Resources responded to online rumors about lithium shipments from Zimbabwe, stating that the report claiming it had prepared lithium concentrate from the Bikita mine in Zimbabwe and shipped between 5,000 and 7,000 metric tons in mid-to-late May is largely accurate. Shengxin Lithium stated that its lithium concentrate from Zimbabwe resumed exports last month, but the exact quantity cannot be determined; “the quota allocated to us is sufficient,” said a company representative. Yaxing Group also confirmed that shipments of lithium concentrate from Zimbabwe have commenced, but declined to comment on specific tonnage.

4. According to Mysteel’s research, Shanxi Province is conducting risk identification and rectification efforts in key areas such as non-coal mines and tailings dams. Some alumina enterprises in the region have safety hazards in their red mud storage facilities, which may affect production and operations in the near term. This incident currently impacts approximately 2 million tons per year of alumina capacity.

1. Industry capacity cleanup rumors fuel significant rally in polysilicon

Hua Wen Futures research report noted that news regarding industry capacity consolidation triggered another emotional rally in the late session yesterday, with the polysilicon 2609 main contract surging rapidly. The late-session gain resulted from a combination of sentiment recovery after prior overselling, marginal improvements in fundamentals, and policy expectations. Moving forward, it is essential to closely monitor actual resumption progress by polysilicon producers, the sustainability of downstream inventory restocking, and the specifics of anti-cutthroat-competition policies. If supply increases in June fall short of expectations while downstream restocking exceeds forecasts, polysilicon prices may enter a phase of recovery; otherwise, the price movement will remain merely sentiment-driven.

2. Domestic and international supply disruptions drive alumina prices sharply higher

China Everbright Futures stated that, from the perspective of the upward rationale, recent reports of impending policy developments in Guinea have prompted a price adjustment on the market. Additionally, according to Aladdin (ALD) research, Shanxi Province has recently intensified inspections and rectification efforts targeting key risk areas such as non-coal mines and tailing ponds, which is expected to impact production at some alumina enterprises. Under these supply disruptions, alumina prices may remain strong in the near term. However, it should be noted that today’s alumina rebound has been accompanied by a reduction in open interest, indicating limited short-term funding support, which could affect the sustainability of the price rise. Macro factors still carry uncertainty; ongoing geopolitical risks stemming from the U.S.-Iran situation continue to be priced in, while rising expectations of Fed rate hikes are suppressing market risk appetite. Macro pressures remain significant, and caution is advised regarding the extent of the recent alumina rebound.

1. TBA on June 11: USDA Monthly Supply and Demand Report;

2. June 11, 20:00: Brazil's June Conab soybean and corn production survey data;

3. June 12 at 00:00, USDA June Monthly Supply and Demand Report.