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, seen as a safe haven investment, has already reached record highs this year due to tariff worries. Photo: AFP
Donald Trump

Trump says gold ‘will not be tariffed’ after customs confusion

US president’s statement follows a letter from US customs authorities suggesting that gold bars of certain weights should be subject to new duties.

CATL

US lithium stocks surge as Chinese mine closes after permit expires

CATL

CATL lithium mine halt signals Beijing’s EV battery overcapacity concerns

China-Africa relations

‘Extremely daring’: Chinese miners putting gold over their own lives in Africa

Gold miners from China are also more vulnerable to the wave of killings and kidnappings than their Western counterparts, observers say.

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Security threats are growing in parts of Africa, with a rise in attacks driven by the soaring price of gold. Photo: AFP
India

India and Australia unite to challenge China’s rare earth reign

Australia’s tech and resources could unlock India’s vast untapped reserves, analysts say, creating a whole new supply chain.

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US-China trade war

Why America’s brute-force effort on rare earths may not work against China

China spent decades carving out a commanding lead in the rare earth realm. Now the US wants its old piece of the supply chain back – is it still within reach?

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China-Russia relations

‘China is next in line’: after India, Trump tariff threats loom over Russian oil

Flow of oil between China and Russia essential for both countries; China unlikely to stop buying from biggest provider of crude: analysts.

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Employees in the Chinese province of Heilongjiang inspect equipment at a refinery that processes Russian crude oil. Photo: Getty Images
China economy

China’s copper smelters to curtail record output on ore shortage

Output of the metal could drop 0.5 per cent from a record high in July, according to a forecast by Shanghai Metals Market.

US-China trade war

Explainer | Trump’s copper-tariff tumult sees prices plunge – what happened?

New tariffs apply mostly to semi-finished copper products while exempting refined forms of the metal that comprise the US’ chief copper imports.

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Malaysia

Malaysia, Indonesia unite to protect palm oil industry, migrant workers

Both countries will work to ‘counter negative campaigns against palm oil’ amid efforts to boost growth in face of looming US tariffs.

Workers transfer harvested palm fruits to a transport truck for processing into crude palm oil at a palm plantation in Pekanbaru. Palm oil is a major revenue contributor in both Indonesia and Malaysia. Photo: AFP
China trade

China steps up to protect trade war edge as rare earth smugglers get creative

A zero-tolerance crackdown has swooped up illegal traders, and foreign violators will be added to the country’s export blacklist, according to the Ministry of Commerce.

China’s dominance in the rare earth supply chain has become a trump card in trade negotiations with the United States. Photo: US Critical Materials
Science

Chinese scientists thank Nasa for sharing data critical to deep-sea mining

Chinese oceanographers say information from Nasa satellites is indispensable for determining ‘distribution of mineral resources’.

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Electric & new energy vehicles

CATL, BYD partner with BHP to electrify Australia’s mining industry

The Chinese firms will collaborate with BHP on battery development for mining equipment, locomotives and rapid charging infrastructure.

US-China trade war

US may cut dependence on China rare earths by 2028, CEO says – but at what cost?

American supply-chain independence in the realm of critical minerals is the goal – what challenges must be overcome to get there?

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Output from a rare earths mine (pictured) in Mountain Pass, California, has been shipped to China for refining. Photo: Shutterstock
Communist Party politics

In global race for critical minerals, China identifies dozens of new reserves

Deposit in Hunan province has an estimated 490 million tonnes of lithium ore and 1.31 million tonnes of lithium oxide, report says.

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China says it has recently discovered a massive deposit of 490 million tonnes of lithium ore in central Hunan province. Photo: Handout
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

Although Trump’s tariffs might cause the flow of refined copper to be redirected from the US to other regions, that doesn’t mean the supply is flowing to China.

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Asean

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

Indonesia’s bridge-building approach shows power lies not only in weapons or markets, but also in fostering understanding and collaboration.

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Indonesia’s President Prabowo Subianto attends a plenary session of the Brics summit in Rio de Janeiro, Brazil, on July 7. The Indonesian leader brings an approach rooted in soft power, bridge-building and inclusive diplomacy. Photo: AFP
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.

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.

The Raygorodok gold mine project. Photo: Handout
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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