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.
US Department of Energy Secretary Chris Wright attends an event in New York City in September 2025. Photo: Reuters
United States

China and US coexistence in Venezuela possible, US energy chief says

Chris Wright sees a constructive role for Beijing but insists Washington must remain the dominant force controlling Venezuela’s oil flows.

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Mergers & Acquisitions

China’s Sinopec, CNAF to undergo consolidation, creating energy powerhouse

China-EU relations

Explainer | Trump says Greenland is ‘surrounded’ by Chinese ships. What’s the real story?

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United States

Opinion | Why Asia should be concerned about the US attack on Venezuela

Venezuela matters less as a case in itself than as a signal of how energy is being repositioned amid intensifying US-China competition.

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A man walks past a sculpture outside a building of Venezuela’s state oil company PDVSA in Caracas, Venezuela, on May 17, 2019. Photo: Reuters
United States

Opinion | The US now owns more than just Venezuela’s oil

A hard lesson in foreign policy comes to mind: if you break it, you own it. America is now responsible for Venezuela’s failures, factions and future grievances.

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US-Venezuela conflict

Not just oil: is Trump’s Venezuela takeover also about critical minerals?

Venezuela, Greenland and Colombia all have large deposits of rare earths and other minerals needed by US technology and defence companies.

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US-Venezuela conflict

What assets does China have in Venezuela, and what may happen with Maduro gone?

US move calls into question China’s future financial commitments in Latin American country, potentially hurting Beijing’s regional strategy.

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Hours before Caracas was rocked by explosions on Saturday, Venezuelan President Nicolas Maduro (right) held a three-hour meeting with Qiu Xiaoqi, China’s special envoy appointed by President Xi Jinping. Photo: handout
US-Venezuela conflict

Gold, oil jolted by US assault on Venezuela as investors recalibrate

Gold and oil move in opposite directions as attack underscores gold’s haven value, fails to alter oil market’s supply glut.

Banking & finance

US dollar, gold rise after Maduro abduction as investors seek safe havens

Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026.

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Malaysia

Gold rush: Malaysia’s Kelantan to let poor residents dig for precious metal

The move comes as gold prices soared and videos of local Kelantanese panning for the metal were shared online.

Gold nuggets. Malaysia’s Kelantan state opened applications for official licences for small-scale gold panning on January 1. Photo: Shutterstock
Indonesia

New ‘command economy’? Indonesia seizes land the size of Switzerland

Prabowo Subianto’s government has taken over 4 million hectares of plantations and mines since last January.

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A truck loaded with oil palm drives on an unpaved road at a plantation in Langsa, Aceh province. Photo: AFP
China energy security

Maduro capture: is the US trying to grab control of the global oil market?

Removal of Venezuelan leader could be part of US effort to regain global pricing power as petrodollar system comes under strain: analysts.

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US-China relations

China buys two-thirds of pledged US soybeans as 2025 closes

Beijing has moved to reduce tariffs on the crop and lifted import bans on three US exporters after talks between Xi and Trump.

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China trade

China’s January 1 silver curbs to deepen global crunch amid volatility: analysts

Beijing’s new export-licensing system seen squeezing foreign buyers, pushing price towards US$100 an ounce; Elon Musk joins warning chorus.

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Bars of silver are stacked at a processing plant in Glogow, Poland. Spot silver briefly surpassed US$80 an ounce for the first time in December. Photo: Reuters
China-Africa relations

How Algeria could help China plug iron ore gaps and gain pricing power

The Gara Djebilet deposit in the Sahara Desert was discovered decades ago but is only now coming into production.

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China’s CRCC has completed laying track on the 6km PK330 Bridge, a final and critical link in a new railway designed to unlock Algeria’s mineral wealth. Photo: CCRC
China-Russia relations

Russian LNG shipments to China surge 143% in November, overtaking Australia

Russian LNG accounted for 23.5 per cent of China’s total shipments, cementing Russia as its top energy partner after President Xi pledged deeper ties.

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China economy

Opinion | Why China has moved to curb steel exports

China’s pivot to emerging markets has kept its export machine running. But frictions are growing and steel is the most visible flashpoint.

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Japan

Macroscope | Japan’s economic security push heralds rising protectionism in Asia

The emphasis on securing supply chains and stockpiling critical resources is no substitute for free and open trade and investment.

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Japan’s Prime Minister Sanae Takaichi gestures as US President Donald Trump delivers a speech in front of US Navy personnel on board the USS George Washington aircraft carrier at the US naval base in Yokosuka, Japan, on October 28. Photo: AFP
China economy

China discovers Asia’s largest undersea gold deposit

Country has been steadily stepping up mineral exploration, with nearly 450 billion yuan invested since 2021.

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China trade

China jails antimony smugglers in tough stance on critical minerals

Dozens convicted of illegally shipping 166 tonnes of the strategic material, marking a major enforcement of Beijing’s export controls.

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China trade

China bets big on copper processing, but ‘weaponisation’ risks are low: analysts

Beijing views copper as critical for EVs and AI, but a reliance on imported ore limits China’s ability to use the strategic metal as leverage.

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A coil of copper rod sits on the production line for copper flat wire at a factory in China’s Jiangxi province in August. Photo: Reuters
Brazil

Chinese mining giant CMOC buys four Brazilian gold mines to expand

CMOC will own the Aurizona, RDM, Fazenda and Santa Luz mines, with 8 tons of combined annual gold output.

Gold seams at the Al-Amar Gold Mine, 195 kilometre southwest of the Saudi capital Riyadh on May 28, 2008. Photo: AFP
China consumption

Forging ahead: China’s copper heartland vows to build US$28 billion empire

Shandong province plans to create a world-class smelting hub by 2027 to secure supply chains for the strategic metal as prices sizzle.

China trade

China’s food-security push to slash soy imports by two-thirds: Goldman Sachs

Beijing is lowering feed content and making related advancements that analysts say could reduce China’s foreign-soybean dependence dramatically within a decade.

China-Africa relations

First China ore shipment rewards Guinea leader’s push for Simandou alliance

Mining minister says China and Rio Tinto were pressed to work on shared infrastructure because ‘we do not want railways running everywhere’.

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Illustration: Lau Ka-kuen
China manufacturing

From steel to space: China giant sells first 2 satellites in bold pivot

Once forging steel for skyscrapers, Jigang Group is now in a race to the skies with Geely and 90,000 other Chinese companies.

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A rocket launchpad is seen amid flags at the Jiuquan Satellite Launch Centre on October 30. China’s commercial space industry is expected to grow rapidly in the coming years. Photo: EPA
US Federal Reserve

Silver surge outpaces gold on global squeeze, rising interest rate-cut hopes

White metal doubles in value this year to reach record high, outshining gold’s 60 per cent rise.

Mainland China

Mainland Chinese miner Zijin’s founder who built US$100 billion firm retires

Chairman Chen Jinghe, 68, will become honorary chairman and senior consultant; he says it is the best time to transition to a new leadership.

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