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Real-time News
On May 18th, a source close to the US-Iran negotiating teams stated that the US has agreed to grant "waivers" to Irans oil sanctions during the negotiations, meaning the US will temporarily suspend sanctions. Iran has emphasized that lifting all sanctions must be part of a US commitment. However, the US has proposed a temporary waiver by the US Treasury Departments Office of Foreign Assets Control (OFAC) until a final understanding is reached. As of now, neither US nor Iranian officials have confirmed this news.On May 18th, the International Monetary Fund (IMF) raised its forecast for UK economic growth this year, but warned that further “domestic uncertainty” could impact consumption and investment as current political turmoil engulfs the government. The IMF projects the UK economy will grow by 1.0% this year, though this still implies a slowdown from 2025 onwards. In its annual assessment of the UK economy, the IMF stated, “While the UK economy has remained stable in recent years, the wars in the Middle East are weakening its near-term prospects.” The IMF said the upward revision to the 2026 forecast is due to pre-war economic momentum, reflected in recent stronger-than-expected growth and revisions to previous data. The report also stated that UK inflation is expected to rise to slightly below 4% by the end of the year, but assuming energy prices fall as expected, the Bank of England could bring inflation back to its 2% target by the end of 2027 without raising interest rates. However, given the uncertainty surrounding the Iranian conflict, if the second-round effects are stronger than anticipated, the central bank may have to cut or raise interest rates and should be “prepared to act decisively.”1. Iran has established a new agency to manage the Strait of Hormuz, the Persian Gulf Straits Authority (PGSA). An account named "Persian Gulf Straits Authority" went online on social media that day. The account claims to be official and will provide real-time updates on the latest developments in the Strait of Hormuz. 2. According to a survey by the Timber Union, nine ships carrying New Zealand coniferous logs are expected to arrive at 13 ports this week, a decrease of four ships from last week, representing a week-on-week decrease of 31%. The total arrival volume is approximately 335,000 cubic meters, a decrease of 188,000 cubic meters from last week, representing a week-on-week decrease of 36%. 3. MinRes announced that it will restart its wholly-owned Bald Hill lithium mine due to a significant and sustained recovery in lithium prices. The mine entered maintenance in November 2024 to preserve the resource value of 58.1 million tons (0.94% Li₂O grade). 4. Pakistani sources stated that Pakistan has forwarded Irans revised proposal for ending the war to the United States, and the US has received the proposal. 5. According to Longzhong Information, the total inventory of soda ash manufacturers in China this week was 1.7953 million tons, a decrease of 86,400 tons from last Thursday, a drop of 4.59%. Among them, light soda ash was 989,100 tons, a decrease of 20,300 tons week-on-week, and heavy soda ash was 806,200 tons, a decrease of 66,100 tons week-on-week. 6. Data from the Southern Peninsula Palm Oil Pressors Association (SPPOMA) shows that from May 1st to 15th, 2026, Malaysian palm oil yield per hectare decreased by 12.47% compared to the same period last month, oil extraction rate decreased by 0.75% compared to the same period last month, and output decreased by 16.42% compared to the same period last month. 7. According to Mysteel, on May 18th, coke prices in Shandongs Weifang, Binzhou, Dezhou, Jining, Zaozhuang, Heze, Rizhao, Taian, and Linyi markets are planned to increase, with wet quenched coke rising by 50 yuan/ton and dry quenched coke rising by 55 yuan/ton, effective from 00:00 on May 20th. 8. According to data from the Shanghai Shipping Exchange, as of May 18, 2026, the Shanghai Export Containerized Freight Index (Europe route) was 1709.43 points, up 1.0% compared to the previous period. 9. According to SMM, as of May 18, 2026, the FOB alumina price in Western Australia was $310/ton, the ocean freight was $34.45/ton, and the USD/CNY exchange rate was around 6.83. This price translates to approximately RMB 2739.75/ton at major domestic ports, which is RMB 59.2/ton higher than the alumina index price. 10. According to Mysteels research, an alumina plant in Guizhou plans to begin maintenance this Wednesday, during which calcination will be completely suspended. The maintenance period is expected to be around 10 days, affecting a capacity of approximately 900,000 tons/year. 11. According to Mysteel, from May 11th to May 17th, 2026, the total iron ore arrivals at 47 Chinese ports reached 28.298 million tons, an increase of 4.192 million tons compared to the previous period; the total iron ore arrivals at 45 Chinese ports reached 26.993 million tons, an increase of 4.116 million tons compared to the previous period; and the total iron ore arrivals at the six northern ports reached 13.167 million tons, an increase of 2.527 million tons compared to the previous period. 12. According to Irans Tasnim News Agency: Sources close to the negotiating team stated that the United States has accepted the lifting of oil sanctions against Iran in its new text and has proposed suspending relevant sanctions from the U.S. Treasury Departments Office of Foreign Assets Control until a final understanding is reached. 13. The Ministry of Industry and Information Technology issued a notice on the implementation measures for capacity replacement in the steel industry. The main revisions are as follows: First, the replacement ratio is increased. The national replacement ratio for ironmaking and steelmaking capacity is no less than 1.5:1, and the replacement ratio for mergers and acquisitions is increased to no less than 1.25:1. Second, capacity replacement between different enterprises is gradually eliminated. A two-year transition period will be set for capacity replacement between different enterprises; after the transition period, capacity transfer can only be achieved through substantive mergers and acquisitions.On May 18th, the China Securities Regulatory Commission (CSRC) website showed that four public fund companies—E Fund Management, China Asset Management, Southern Asset Management, and CICC Fund Management—submitted applications for CSI REITs Total Return Index Securities Investment Funds. It is understood that these are the first batch of fund products tracking the CSI REITs Total Return Index, representing an innovative breakthrough for public REITs in the index fund field.Israel Defense Forces: A Palestinian Islamic Jihad commander was killed in an attack.
