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Daily Global Commodity Market News Express (July 5th) – XMDailyFX

Daily Global Commodity Market News Express (July 5th)

1. National Development and Reform Commission: Strengthen domestic exploration and development of important energy and mineral resources, increase reserves and production, and enhance independent support capabilities.
2. The Ministry of Foreign Affairs responded to the export control of gallium and germanium related items: China has always been committed to maintaining the security and stability of the global production and supply chain, and has always implemented fair, reasonable, and non-discriminatory export control measures.
3. Traders: India imported 655,000 tons of palm oil in June, compared with 439,173 tons in May; imported 432,000 tons of soybean oil in June, compared with 318,887 tons in May.
4. During the power outage in Kazakhstan, the Tengizand and Atyrau pumping stations of the CPC oil pipeline of the Caspian Petroleum Union used backup power to receive crude oil at a partial capacity.
5. Philippine President Marcos ordered an investigation into price manipulation of Philippine agricultural products.
6. According to traders and Reuters data: Russia’s seaborne diesel exports increased by 13% month-on-month in June due to a decrease in seasonal maintenance work.
7. Brazilian regulator: Brazilian oil and gas production reached 4.11 million barrels of oil equivalent per day in May.
8. Egyptian Oil Minister: Egypt has launched a $1.8 billion program to drill new gas exploration wells in the Mediterranean and Nile Delta.
9. Brazil’s National Petroleum Agency: Brazil’s oil production reached 3.2 million barrels per day in May, an increase of 1.9% from the previous month.
10. UAE Minister of Energy: We plan to produce 1.4 million tons of hydrogen by 2031.
11. Vietnam’s energy sector: no power shortages are expected before the end of the year.
12. Wei Jianguo, former vice minister of the Ministry of Commerce: China’s export control of important raw materials for chips is just the beginning, and China still has many tools for countermeasures.
13. Kazakhstan’s daily oil output fell by 21% after the blackout.
14. Steel Authority of India produced 4.7 million tonnes of raw steel in the first quarter.

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