News

Golden Ten Data reported on June 23 that as large quantities of Middle Eastern oil flood into Europe, key indicators in the North Sea crude market are showing signs of weakness, intensifying market concerns about an oversupply following the reopening of the Strait of Hormuz. In S&P Global Commodity Insights' Platts pricing window, Forties crude—one of the six oil grades underlying the global Dated Brent benchmark—fell to its lowest level in two years on Monday. Another key component of the Dated Brent benchmark, WTI Midland crude, dropped to a three-month low. The weakening of the North Sea benchmark follows a surge in Middle Eastern exports, with a huge supply flowing back into the global oil market. The Dubai benchmark has already shown softness, with its spread widening further to a futures premium structure, which typically signals ample supply. Traders said that although shipping traffic through the Strait of Hormuz has not fully returned to normal, concerns about oversupply are mounting.

Glonghui, June 23 | U.S. mining company Energy Fuels has agreed to acquire German magnet manufacturer Vacuumschmelze for $1.9 billion. The transaction is expected to be completed in early 2027, and the consideration includes $718 million in cash and 65.853 million newly issued ordinary shares of Energy Fuels. Vac operates magnet production facilities in North America, Europe, and Asia, with a product portfolio including permanent magnets and soft magnetic materials.

```htmlGolden Ten Data reported on June 23 that Q2's consumer market is traditionally a slow season. Storage manufacturers are raising prices in line with significant increases in resource costs, thereby simultaneously increasing prices for finished products and continuously testing customers' acceptance of high-priced storage products. Shipment pressure is particularly high for large-capacity industry SSDs and embedded eMMC. Except for individual storage manufacturers with low inventory levels who can accept current high-priced resources, other manufacturers without urgent demand are adopting a cautious attitude toward purchasing new resources. Resource price increases pushed by original manufacturers this quarter are clearly facing difficulties. Since mid-to-late March, the spot trading price of NAND wafers has begun to reverse and adjust downward. Even though there is occasionally demand in the market, it is difficult to change the persistent decline in wafer trading prices. Recently, some small traders with certain liquidity pressures have repeatedly lowered their quotations. After several months of gradual decline, some wafers have fallen back to the price levels seen at the end of January. To reflect the latest changes in spot resource trade prices, today's prices for 512Gb TLC and 1Tb QLC wafers have been adjusted downward to $22.5 and $26.5, respectively.```

The Russian Ministry of Finance stated that there will be no weekly OFZ bond auction held on Wednesday.