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.
An aerial view of PT Gag Nikel mining operations in Gag Island, Raja Ampat, Indonesia. Photo: Greenpeace/Reuters
Indonesia

Can Indonesia’s China-backed aluminium ambitions match its nickel success?

With big Chinese firms investing in new smelters and refineries, Indonesia’s aluminium production is predicted to rise five-fold by 2030.

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US-China trade war

Surprise US copper tariff tests the mettle of China’s vast refining industry

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Asean

Opinion | Through Brics, Indonesia offers its vision of inclusivity to the world

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United States

Hong Kong investors triple gold holdings in rush to haven asset: HSBC survey

Hong Kong investors allocate 11 per cent of their portfolios to gold and other precious metals, up from 4 per cent a year ago.

Gold prices have risen 28 per cent year to date. Photo: Shutterstock
China-Africa relations

Is this the copper century? China moves to shore up supplies from Africa

African copper is crucial for China as the West restricts supplies, notably from Canada, analyst says.

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Gold in Hong Kong

Zijin buys Kazakhstan gold mine ahead of overseas unit’s Hong Kong IPO

Firm says deal will help it become one of the world’s top three gold producers by 2028.

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Rare earths

China’s rare earth curbs spur overseas projects, says US developer

Analysts say buildouts to be costly and protracted, could require subsidies and tariffs to stave off Chinese competition.

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A rare earths mine in Inner Mongolia. Photo: Reuters
Central banks

Macroscope | Central banks rush to gold as fears of US dollar crisis mount

Central bank gold holdings are now back to where they were in the 1960s, before gold went out of official fashion.

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Banking & finance

Shanghai Gold Exchange launches first offshore vault in Hong Kong

Vault witnesses several transactions of spot gold contracts after it becomes operational.

China economy

Opinion | China is taking Silicon Valley’s market ‘hacks’ to a whole new level

From ‘blitzscaling’ to leveraging network effects, China is using these same methods to dominate supply chain and disrupt markets.

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Companies and industrial hubs like Hangzhou are implementing a “whole of society” approach towards developing and deploying emerging technologies. Photo: Shutterstock
Israel-Iran conflict

Oil rises after 2-day slump as traders assess Iran-Israel ceasefire

Brent crude rose about 1 per cent to near US$68 a barrel, after slumping 13 per cent over the past two days, while West Texas Intermediate was above US$65.

The price of oil in Midland, Texas on June 12, 2025. Reuters
Iran

Gold and oil surge after US bombing of Iran amid global capital flight

Gold climbed 0.8 per cent before paring gains. West Texas Intermediate rose 2.5 per cent. The US dollar appreciated while US equity futures declined.

China trade

China’s magnet exports to US slammed in May as rare earth curbs hit: data

Wielding its biggest bargaining chip in trade dealings with Washington, Beijing applied pressure by imposing export controls on some critical minerals.

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China pork crisis

China to reduce pig count by 1 million amid low prices, deflation risk: report

Measures reportedly in the works by agriculture authorities are not just aimed at restoring balance to pork sector, but also at shoring up economy amid deflation risks.

A pig farm is seen in China’s Jiangxi province. A million pigs will reportedly be culled across the country. Photo: Xinhua
Belt and Road Initiative

Opinion | Israeli strikes one more challenge for new China-Iran rail corridor

Weeks before the air strikes, a new overland trade route was launched that could help Iran evade sanctions and advance its regional ambitions.

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People gather in Nobonyad Square, Tehran, after Israeli airstrikes on Iran on June 13. Photo: Getty Images
China trade

Canada to mine more amid geopolitical tensions: former minister Bill Morneau

Former finance minister says Canada has a stake in the US-China discussions, particularly when it comes to export controls over rare earths.

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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

‘If China imposes export restrictions on rare earth components, the US will just find alternative sources,’ former AmCham China chair says, pointing to challenges.

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A tractor moves material at a rare earth mine in California. US efforts to source more critical metals domestically could help reduce dependence on China. Photo: Reuters
United States

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

Global growth is projected to fall to 2.3 per cent due to trade tensions and policy uncertainty, with rising inflation risks requiring urgent action.

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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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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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Relaxed traders on the floor of the New York Stock Exchange during morning trading on May 27. Photo: Getty Images via AFP
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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Illustration: Craig Stephens
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.

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.

Japan’s new Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi visits the rice section at a supermarket in Tokyo on Friday. Photo: Kyodo
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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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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