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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
A worker takes a coin from a gold tree consisting of 2,024 Vienna Philharmonic coins displayed in Munich on December 3. Based on the current gold price, the tree, which is almost 3 metres tall, has a value of about 5.3 million euros (US$5.5 million). Photo: EPA-EFE
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

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China economy

China’s crop import curbs causing soybean shortage

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.

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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.

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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Women sit on a hill overlooking the Suralaya coal power plant in Cilegon, Indonesia, in 2023. Photo: AP
Japan

‘Japan should be concerned’: Chinese seabed mining plan fuels resource race fears

A state-owned Chinese firm has reportedly secured exclusive rights for seabed exploration near the edge of Japan’s exclusive economic zone.

A Chinese deep-sea mining ship undergoes a sea trial. Photo: Shanghai Jiao Tong University/Handout via Xinhua
China manufacturing

China wants to turn Xinjiang’s vast deserts into a string of pearls

Millions of pearls are already being harvested in the Taklimakan Desert, as China tries to turn the arid region into a hub for aquaculture.

Singapore

Singapore businessman faces trial over massive US$1.1 billion nickel scam

The ex-accountant, who spent millions on funding an extravagant lifestyle, is accused of raising money for trades that did not exist.

China-Africa relations

Chinese firms bet on African gold as prices surge in the face of uncertainty

Observers say mining investments in South Africa and Ghana could help Beijing weather geopolitical instability and potential sanctions.

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A Chinese-invested gold processing plant in Orkney, South Africa is expected to create 4,000 new jobs. Photo: X/ @buamogaetsho
China's economic recovery

China hits jackpot with discovery of ‘massive’ gold reserves in Hunan

The US$80 billion hoard is the latest fruit of China’s drive to find new domestic precious minerals reserves.

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Demand for gold has surged in China over the past two years, as consumers and investors react to domestic and global economic uncertainty. Photo: Shutterstock
Food and agriculture

Future-proofing rice: how Asia’s farmers are innovating against climate odds

From India to Vietnam, a new wave of innovation is transforming traditional rice farming into a resilient and eco-friendly industry.

South Africa

South African government won’t help thousands of illegal miners in closed mine

Police closed off the entrances for moving supplies underground, cutting off miners’ supplies to force them to resurface for arrest.

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Climate change

Opinion | Why China will struggle to achieve food security goal despite smart plans

The country is facing food security challenges as a result of factors ranging from changing diets and climate threats to supply chain uncertainties.

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Farmers loading grain in Daoxiang village in northeastern China’s Heilongjiang province on October 13. China expects a record grain harvest this year. Photo: Xinhua
China trade

Rare earths in spotlight amid US-China tensions, Myanmar turmoil

Armed rebels have taken control of a mining centre, and the US election outcome could be anyone’s guess.

China trade

All eyes on agro-diplomacy as China’s food-security needs open new import doors

Upcoming China International Import Expo will highlight need to strike a balance with trading partners as appetite of world’s biggest food consumer hits record highs.

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US-China relations

China hails mineral finds amid push for security of supply, energy and nation

Ministry of Natural Resources lists haul of gold, copper, molybdenum, phosphorite and fluorite key to future of defence and geopolitics.

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China’s Ministry of Natural Resources says it has discovered new deposits of minerals, including gold, copper, molybdenum, phosphorite and fluorite. Photo: Xinhua
India

Gold’s shine fades in India as US election, high prices dampen Diwali demand

While gold is often seen as a safe haven, traders are hesitant to purchase due to the potential for price fluctuations after the US election.

A salesman helps a customer select gold bangles at a jewellery showroom in Mumbai. Gold prices near record highs, driven by US election uncertainty, are dampening India’s peak festival gold buying season, with sales down 10-20 per cent. Photo: Reuters
China economy

China’s steel and oil industries face mounting losses amid economic slowdown

China steel’s industry racked up losses of US$5 billion from January to September, while the oil sector’s losses widened to US$4.5 billion.

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Climate change

Opinion | For China, choosing green hydrogen over shale gas should be a no-brainer

Fracking is technically challenging, expensive and polluting. Much better to devote more resources to green hydrogen.

Gold in Hong Kong

How Hong Kong can compete with Singapore, Dubai in gold trading

Hong Kong has to create a comprehensive gold trading ecosystem, attract international traders, central banks and hedge funds.

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Hong Kong’s Airport Authority has unveiled plans to expand the capacity of its gold vault from 150 tonnes to 1,000 tonnes. Photo: Shutterstock
Hong Kong economy

Opinion | Hongkongers should support John Lee’s determination to improve things

The city’s leader has backed his promise to improve the city’s competitiveness and livelihoods with policies to protect prosperity and stability.

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Chief Executive John Lee Ka-chiu holds up a copy of the latest policy address during a press conference at the government’s headquarters in Admiralty on October 15. Lee deliver his third annual policy address on October 16. Photo: Eugene Lee
China-EU relations

Defend euro as China, Russia push for alternative currency: Europe’s bank chief

Next US leader also urged to weigh negative impacts of American and EU trade ‘restrictions and barriers’ on economic growth and inflation.

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Hong Kong economy

Hong Kong airport to boost gold vault capacity to 1,000 tonnes to lure investors

Airport Authority says it is finalising expansion plan for precious metals depository, as site is ‘reaching full capacity’ due to growing demand.

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