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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.
last updated:
9 September, 2024
President Donald Trump watches the action during the second half of the Army-Navy game at Lincoln Financial Field on December 14, 2019, in Philadelphia. Photo: USA Today
United States

Opinion | How the US can challenge China’s dominance over critical minerals

To secure critical minerals, cut dependence on China and boost growth, Trump might cut red tape, spur investment and push collaborations.

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Zijin Mining

China’s Zijin Mining vies with Glencore after record year for profits

Banking & finance

Hong Kong to join LME warehouse network to serve China’s metals appetite

Rare earths

Gold discoveries show how China’s mineral search is yielding precious prospects

Authorities again announce huge findings of gold veins across different Chinese regions, with the help of big data and powerful computing.

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China has stepped up investment in the search for critical mineral resources in recent years, striking gold in the process. Photo: Shutterstock
China property

China steelmakers set for more production cuts as demand sags

Chinese research firm Mysteel expects output to sink to less than 900 million tons by 2030 from more than 1 billion tons in 2024.

Australia

Australia’s US$1.2 billion plan to make aluminium ‘green’

PM Anthony Albanese said the move aims to position Australia as a leader in ‘green metals’ and capitalise on the growing global demand for sustainable materials.

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Asean

Opinion | In joining Brics, Indonesia is showing itself to be strategic trailblazer

What Indonesia has gained is strategic autonomy, clout with the US and within Asean, and a bigger voice on the global stage.

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Indonesian President Prabowo Subianto gestures as he speaks during the Indonesia-China Business Forum in Beijing, on November 10, 2024. Photo: AP
China-Philippines relations

Opinion | Manila and Beijing can still choose cooperation over conflict

While violent clashes and bilateral disputes between Manila and Beijing have reached new heights, so can economic engagement.

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Banking & finance

Hong Kong should seize role in clean-energy commodities, think tank says

Commodities market would ‘create a new growth point for Hong Kong’s economy’, report from Better Hong Kong Foundation says.

United States

Opinion | Trump’s Greenland gambit spotlights geopolitical tussle over the Arctic

As climate change accelerates Arctic ice melt, opening up new shipping routes and resource extraction opportunities, Greenland’s geopolitical value has soared.

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Illustration: Stephen Case
Malaysia

Chinese, Indian steel and iron hit with anti-dumping duties by Malaysia

The provisional duties, which took effect on January 11, also targeted iron and steel products from Japan and South Korea.

Ironworkers stand in front of a blast furnace. Photo: Shutterstock
Asean

Opinion | Why Southeast Asia’s participation in Brics matters

With Indonesia joining the grouping and Malaysia and Thailand as partner countries, Brics has acquired not just mineral-rich members but also key Asean voices.

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Climate change

Outside In | The industry is in crisis, but wine lovers should hold their panic

The future looks dire with consumption pivoting away, especially in China and France, and grape growers worldwide hit by climate change, but the wine sector is a long-term sector.

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Donald Trump

Canada’s leaders say Trump’s 51st state ‘joke’ isn’t funny any more

Finance Minister Dominic LeBlanc says the US president-elect’s comments are meant to undermine his country’s closest ally.

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Donald Trump smiles at an election night watch party in West Palm Beach, Florida, in November. Photo: AP
United States

Opinion | Up in the air whether US economic arrows will hit the mark

If the Trump 2.0 team is as uncoordinated as Trump 1.0, we will see arrows flying everywhere.

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Donald Trump at a presidential campaign event, in Allentown, Pennsylvania, on October 29. Photo: Reuters
Indonesia

‘Palm oil is strategic’: Indonesia’s Prabowo calls for protection

Foreign countries are eyeing Indonesian palm oil as the ‘strategic material’ is crucial to their industries, President Prabowo Subianto says.

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Gold in Hong Kong

Gold could hit US$3,000 in 2025 amid continuing bull run

A recent World Gold Council survey showed 81 per cent of respondents expect central banks to bolster their gold reserves in the coming year.

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US-China relations

Trump expected to step up chase for key minerals after China restricts exports

President-elect will need to shift his ‘America First’ policy orientation to secure the supply chain crucial for defence and hi-tech.

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Outgoing US President Joe Biden has imposed export restrictions on 24 types of chipmaking equipment and three categories of software essential for semiconductor development. Photo: Shutterstock
Banking & finance

Macroscope | Cryptocurrency craze no match for gold’s enduring allure

Leaders and policymakers should not be swayed by calls to pivot to cryptocurrencies when gold is as strong as ever.

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China food security

Fertiliser on its way out, advanced tech is in, as China sees record farm yields

Modernisation efforts come as food-security stability grows more critical in China’s agrarian undertakings.

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China economy

China’s crop import curbs causing soybean shortage

Some soybean crushers in Dongguan in Guangdong province have had to suspend operations for the last three weeks, traders say.

Farmers harvest soybeans near Palo, Iowa, United States, on October 2, 2024. Photo: AP
Malaysia

Raids on illegal mines spotlight Malaysia’s lucrative rare earth ambitions

Malaysia’s crackdown highlights the challenges of managing rare earth resources amid rising global demand for green technology.

A Malaysian flag flies at the entry-point to a mining site in rural Pahang state in 2015. Photo: AFP
Banking & finance

Exclusive | Hong Kong’s potential as commodities hub draws expansion by Marex Group

The establishment of London Metal Exchange warehouses in Hong Kong will be a key enabler, Marex CEO says.

Saudi Arabia

Trillion-dollar ambition: Saudi Arabia accelerates metal mining plans

The kingdom has signed a slew of deals with Chinese, Indian and Australian companies amid growing interest in its massive mineral reserves.

Business of climate change

Hong Kong’s status as aviation, maritime hub faces green fuel challenge

Hong Kong has to act fast if it wants to become a green fuel hub for the aviation and maritime sectors, as both Singapore and China are way ahead, analysts say.

Illustration by Henry Wong
Financial crime

Mitsubishi loses US$90 million in suspected China copper fraud

Mitsubishi dismissed Gong Huayong, a Shanghai-based copper trader at one of its China units, after finding that he had made unauthorised trades with local companies.

A view of the Zhengzhou Commodity Exchange in Henan province on April 3, 2019. Photo: Imaginechina.
Australia

China-Australia beef over as Beijing lifts red meat ban on Canberra exports

Over the past two years, Beijing has dropped tariffs on Australian barley and wine, halted an import ban on timber and resumed shipments of coal.

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Business of climate change

Opinion | Indonesia can’t afford to abandon coal as it shifts to greener energy

Phasing down coal and investing in renewable energy can ensure energy security and economic stability while creating a greener future.

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