TOPIC

Commodities

Commodities
Commodity market action from around the world with a focus on the commodities that matter most to investors in Hong Kong and China.
Gold bricks are seen displayed in Sheung Wan, Hong Kong. Photo: Edmond So
Banking & finance

Crypto can’t chip away at gold’s safe-haven shield: gold researcher

Spot gold price surged to US$3,444 after Israel’s strikes on Iran.

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China trade

‘Making a dent’: race is on to reap rare earths elsewhere amid China’s dominance

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United States

World Bank warns of slowest global growth since 1960s amid Trump tariffs

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China trade

Ahead of US trade talks, China’s rare earth trade data from May sends a message

China’s curbs on rare earth exports are reflected in trade data as value plummets in May, and risks to US supply chain are seen.

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Workers transport soil containing rare earth elements for export at a port in China’s Jiangsu province. Photo: Reuters
United States

Opinion | May’s Taco market lull may well be the calm before the storm

For now, even a threat of tariff escalation may be discounted by a feeling that ‘Trump always chickens out’.

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US-China relations

Opinion | US-China rivalry morphing into a multifront war with no easy way out

It’s not just trade, tech, student visas and academic collaboration – the military stakes are rising too in this contest of endurance.

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Malaysia

Malaysia’s Kelantan eyes rare earth riches. Can it dig its way out of debt?

A new deal with Australian mining giant Lynas could unlock billions for the impoverished state, but only with federal government backing.

A Lynas worker walks past sacks of rare earth concentrate waiting to be shipped to Malaysia at Mount Weld in Australia. Photo: Reuters
US-China relations

Explainer | How dependent is America’s arsenal on China’s critical mineral supply?

Beijing has leveraged its dominance in critical mineral production and refining as a key negotiating point in trade wars.

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Japan

Japan to cut rice prices by selling directly to retailers

Rice prices have soared in recent months, creating concerns for Japan’s unpopular leadership ahead of upper house elections due in July.

Gold in Hong Kong

China’s Zijin Mining opens gold and copper stock fund to Hong Kong investors

The fund’s manager expects gold to hit US$4,000 this year due to a weakening US dollar and rising demand from investors.

Gold prices could rise to US$4,000 an ounce on the back of demand from central banks and as a haven asset, according to a fund manager. Photo: Edmond So
India

India eyes more rice exports over lower tensions with Pakistan, early monsoon

Rice prices have stabilised in Asia after they spiked over supply concerns resulting from the conflict between India and Pakistan.

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A paddy field on the outskirts of Guwahati, India. Rice traders in India are expecting an increase in exports due to lower tensions on the subcontinent and the early start of the monsoon season. Photo: AP
Indonesia

Indonesia slams Singapore’s ‘shameful’ fuel prices, plans pivot to US imports

Despite being an oil producer, Indonesia’s low refining capacity leaves it heavily reliant on Singapore for fuel — but that may soon change.

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Gold in Hong Kong

14% upside for gold by mid-2026 as rate cuts fuel rally, UBS says

Gold is under allocated in investment portfolios and has room to increase, according to the World Gold Council.

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US-China trade war

How China plays the ace up its sleeve – rare earth minerals – in dealing with US

Until the US-China trade war abates and Beijing eases more rare earth export controls, American buyers are expected to take a skittish long-term view of Chinese sourcing.

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Workers transport soil containing rare earth elements for export at a port in China’s Jiangsu province. Photo: Reuters
Indonesia

In Indonesia, nickel miners warn of mass lay-offs as royalty rise hits profits

The Indonesian government’s bid to boost state revenue and fund projects with higher mining royalties is being met with an industry backlash.

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A worker processes nickel at a smelter on Indonesia’s Sulawesi island. Photo: Reuters
Yuan

Shanghai Gold Exchange eyes Hong Kong vault to promote yuan-denominated products

The new vault will be part of the exchange’s network that international clients use to manage bullion trading and storage.

Electric & new energy vehicles

China’s dying EV batteries are powering its circular economy in new-energy era

Recycling critical materials such as lithium, cobalt and nickel are driving profits and shoring up China’s resource security as trade war with US hits supply chains.

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US-China relations

Opinion | Trump’s executive order to boost US deep-sea mining will force China to act

Beijing will continue to sharpen its technological edge, support multilateral governance and may set up maritime joint patrols to monitor the US.

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Illustration: Craig Stephens
Food and Drinks

China adds 12,000 coffee shops as mass appeal grows, Starbucks suffers

A presidential endorsement increases thirst for the drink while aggressive expansion and price competition make it more accessible.

The Philippines

Philippines to slash rice prices in half amid election season

The programme will cost the Marcos government about US$178 million to help the poor, but critics say it is a tool to support government candidates in midterm polls.

China trade

US farmers’ loss is Brazil’s gain as China diversifies soybean imports

With tariffs on US soybeans, most of China’s summer imports will come from Brazil, according to the US Department of Agriculture’s April outlook report.

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A worker handles soybeans in Campos Lindos, Brazil, during a February soy harvest. More of China’s soybean imports are coming from Brazil amid a tariff war with the United States. Photo: Reuters
LME

Why the London Metal Exchange’s Hong Kong warehouses are a big deal

The development marks a pivotal step in strengthening Hong Kong’s position as a strategic commodities hub in Asia, industry leaders say.

Sheets of copper sit in stacks outside a solvent-extraction plant awaiting shipment. Photo: Getty Images
China technology

Opinion | How China’s agricultural modernisation is reshaping global food systems

As sufficiency improves for China and the countries it shares its agriculture+AI strategy with, regional and global trade could be reshaped.

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Pakistan

Pakistan’s mining push: a chance to equal Indonesia’s nickel success?

A landmark deal unlocking vast copper and gold reserves has Pakistan eyeing a transformative economic shift.

Malaysia

Malaysia urged to invest in Uganda’s untapped oilfields as its reserves dwindle

Uganda has an estimated 6.5 billion barrels of petroleum reserves. Malaysia’s reserves stood at 2.7 billion barrels as of 2023.

An aerial view of Uganda’s Kingfisher Oil Field run by the China National Offshore Oil Corporation in Kikube. Photo: Xinhua
Climate change

Opinion | China must resist greenwashing its dirty coal habit with green bonds

Can China credibly claim climate leadership while doubling down on its dirtiest fuel?

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Vehicles transfer coal at a port in Chongqing, southwestern China on April 20. Photo: AFP
Mainland China

China takes steps to boost yuan with overseas gold storage facilities

China to explore the internationalisation of physical delivery for specific products traded on the Shanghai Gold Exchange.

ETFs

Chinese gold ETFs glow as investors chase metal’s historic rise

The mainland’s 13 gold ETFs bulge by US$9.6 billion, as the metal’s lure as a haven asset grows.

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