In December, Baowu Steel raised prices amid a general rise in international commodity markets.

◎ The Foreign Ministry spokesperson announced: At the invitation of the governments of Guinea and Sierra Leone, Liu Guozhong, Member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will visit Guinea and Sierra Leone from November 10 to 16. At the invitation of Guinean President Doumbouya, Vice Premier Liu Guozhong will attend the commissioning ceremony of the Simandou iron ore project on November 11 as a special representative of President Xi Jinping.

◎ In December, Baowu Steel's ex-factory prices remained unchanged from November. The estimated tax-free base price for hot-rolled Q235B steel in December is 4,535 yuan/ton; for cold-rolled DC01, it’s 8,431 yuan/ton; and for hot-dip galvanized DC51D+Z, the tax-free base price stands at 9,147 yuan/ton. For more details>>

◎ Starting November 10, due to unfavorable meteorological conditions, multiple areas in Henan Province may experience a prolonged period of moderate air pollution. In accordance with the emergency response plan for severe pollution weather, Zhengzhou, Puyang, Jiaozuo, Jiyuan, and other regions have activated an orange alert for heavy air pollution.

◎ The United States officially announced the suspension of its Section 301 investigation measures targeting China's shipbuilding and other industries for one year. In response, China announced it would suspend the imposition of a special port fee on U.S.-flagged vessels for one year and halt countermeasures against five U.S.-related subsidiaries of Hanwha Ocean Co., Ltd. for the same period. Additionally, China has added the United States, Mexico, and Canada to the list of specific countries (or regions) subject to enhanced export controls on precursor chemicals used in drug manufacturing, while also separately including 13 additional precursor chemicals specifically designated for these three nations.

◎ The General Office of the State Council has issued the "Several Measures to Further Promote the Development of Private Investment." These measures emphasize increasing central budgetary investment support for eligible private investment projects, while actively leveraging their guiding and driving roles. Additionally, they encourage active support for more qualified private investment projects to issue infrastructure-related real estate investment trust funds.

◎ The 8th China International Import Expo recorded intended deals worth US$83.49 billion for the year, a 4.4% increase from the previous session, marking a new historical high.

◎ On November 9, local time, the U.S. Senate passed a temporary funding bill aimed at ending the government "shutdown." The legislation will provide the government with funds until January 30, 2026. Based on the latest developments and arrangements, the U.S. government shutdown could potentially wrap up before this weekend.

◎ Mattel announced the bilateral trade framework agreement, under which Thailand will eliminate tariff barriers on 99% of its goods, covering all U.S. industrial products, as well as food and agricultural products.

◎ On November 10, national major port iron ore transactions totaled 1.161 million tons, down 7.7% from the previous day; meanwhile, mainstream traders reported building steel sales of 107,800 tons, an increase of 23.8% compared to the prior day.

◎ From November 3 to 9, China received a total of 27.693 million tons of iron ore via port, a decrease of 5.448 million tons compared to the previous week. Globally, total iron ore shipments amounted to 30.690 million tons, down 1.448 million tons from the prior week. Meanwhile, shipments from Australia and Brazil reached 25.486 million tons, marking a weekly decline of 2.106 million tons.

◎ Hubei Jinshenglan Group has announced its year-end maintenance plan, scheduling a 20-day overhaul of No. 1 blast furnace starting December 1, 2025, and a 20-day maintenance period for No. 2 blast furnace beginning December 21, 2025. Meanwhile, Hubei Shunle Steel plans to halt production for a month-long maintenance shutdown in December 2025. These planned overhauls are expected to reduce steel output by 11,500 tons per day.

◎ According to an incomplete tally by Mysteel, a total of 822 projects commenced construction across China in October 2025, with a combined investment totaling approximately 494.812 billion yuan. More details >>

◎ According to data from the China Passenger Car Association, retail sales in the national passenger car market reached 2.242 million units in October, down 0.8% year-on-year. From January to October, cumulative retail sales across the national passenger car market totaled 19.25 million units, representing a robust 7.9% increase compared to the same period last year. In October, retail sales of new-energy passenger cars hit 1.282 million units, up 7.3% from a year earlier but declining 1.3% from the previous month; meanwhile, from January to October, cumulative retail sales of new-energy vehicles surged by 21.9%, reaching 10.151 million units.

◎ As of November 10, 18 automakers have released their October production and sales figures. In terms of sales, SAIC Motor achieved total vehicle sales of 454,000 units, representing a year-on-year increase of 12.96%. More details are available ➡

◎ The window for the next round of refined oil price adjustment will open at 24:00 on November 10. Domestic gasoline and diesel prices will see a slight increase, with retail price caps raised by 125 yuan and 120 yuan per ton for gasoline and diesel, respectively. As a result, filling up a 50-liter tank with 92-octane gasoline will cost an extra 5 yuan.

◎ The National Development and Reform Commission and the National Energy Administration have issued guidelines to promote the consumption and regulation of new energy sources. By 2030, the majority of new electricity demand will be met by newly added renewable energy generation. These measures aim to effectively accommodate over 200 million kilowatts of new renewable energy capacity annually across the country, thereby supporting the achievement of the carbon peak target.

16:00 China's October M2, Total Social Financing, and New RMB Loans

18:00 Eurozone November ZEW Economic Sentiment Index

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