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.
The Raygorodok gold mine project. Photo: Handout
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.

Rare earths

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

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Central banks

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

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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.

The exterior of the Shanghai Gold Exchange. Photo: CFOTO/Future Publishing via Getty Images
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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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.

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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.

A Tokyo brokerage showing the decline of the Nikkei225 index on June 23, 2025. Photo: Reuters
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.

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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Former Canadian finance minister Bill Morneau, seen here in 2018, spoke with the Post in Shanghai on Friday. Photo: Reuters
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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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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US President Donald Trump makes an announcement about a trade deal with the UK at the White House on May 8. Photo: Reuters
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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