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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.
This July 2025 handout image shows a Liberia-flagged bulk carrier being attacked by Houthi fighters at sea. Attacks by Yemen’s Houthis have prompted many freight companies to detour around southern Africa to avoid the Red Sea. Photo: AFP
US, Israel war on Iran

Red Sea shutdown risk looms as US-Iran tensions threaten another oil surge

Tehran puts Houthi militants on notice to close critical shipping lanes, threatening a fresh supply shock as Brent crude notches 21 per cent rally since early July.

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Banking & finance

China’s resources deals turn gold mines into – gold mines

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China trade

China’s imports from Africa surge after Beijing expands zero-tariff policy

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Hong Kong economy

Opinion | Connect scheme for gold shines light on China’s financial liberalisation

The Connect model has evolved from isolated reforms into a blueprint for China’s financial opening up, with Hong Kong as the bridgehead.

Pan Gongsheng, governor of the People’s Bank of China, delivers a keynote speech at the Hong Kong FIC & Bond Connect Summit at JW Marriott Hotel in Admiralty on July 7. Photo: Sun Yeung
Energy

Blockbuster earnings: how China’s lithium giants are cashing in on energy race

Soaring profits at Tianqi and Ganfeng highlight how global demand for energy independence is powering China’s lithium edge.

Artificial intelligence

Macroscope | Don’t expect the rising tide of AI to lift all boats

While economies linked to hi-tech supply chains may perform well, unequal outcomes and economic instability still loom for much of the world.

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China trade

China issues temporary helium export ban as Iran war strains global supplies

The ban on shipments of the gas, a crucial raw material in semiconductors and other sectors, comes as Middle East conflict strains global supplies.

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A container ship sails out of the port in Qingdao, in China’s eastern Shandong province. Photo: AFP
China’s private sector

Chinese firms look to strike gold in a volatile global metals market

Futures brokerages and exchanges aim to grow their market footprint and offer more efficient hedging tools in the global commodity market.

Banking & finance

Editorial | Gold, bond push boosts Hong Kong’s role in nation’s financial future

At a time of increasing global instability, Beijing needs to be a financial powerhouse to protect itself and others.

Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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The People’s Bank of China said gold holdings rose to 75.44 million troy ounces (2,346 tonnes) at the end of June. Photo: dpa
Gold in Hong Kong

Hong Kong inaugurates trial operation of gold clearing and settlement system

Chief Executive John Lee announces ‘milestone’ for city’s gold trading ecosystem at Hong Kong FIC & Bond Connect Summit.

Gold bars and coins at a precious metals dealership. Photo: DPA
Electric & new energy vehicles

Beijing opens lithium futures to foreign traders to cement pricing power over US

Miners, battery makers and traders outside China can now trade lithium carbonate futures and options on the Guangzhou Futures Exchange.

China consumption

China unveils recycling push to bolster resource security, shore up green shift

The nation seeks to narrow the gap with regional peers such as Japan and South Korea by establishing a more comprehensive, granular recycling infrastructure.

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Banking & finance

Exclusive | Hong Kong to launch gold clearing and settlement system next week: sources

The city plans to process its first gold settlement on Tuesday, according to those familiar with the matter.

Pure gold bars in Shanghai on March 15. Photo: CFOTO/Future Publishing via Getty Images
China-Latin America relations

Aid for Venezuela, China-Colombia ties: 7 Latin America relations reads

From Argentina’s move towards Beijing to Lula’s beef deal, here are highlights from the SCMP’s foreign correspondents in June 2026.

A Brazilian rescuer works in the aftermath of earthquakes in Venezuela. Photo: Reuters
China-Africa relations

Opinion | Beijing offers leverage for Africa. Policymakers are now applying it

Partnerships with China are no longer a debate for economies across the continent but a platform for their own development paths.

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HKEX

Hong Kong vows stronger exchange with reforms, bond futures and gold push

Listing changes and new product launches are set to bolster Hong Kong’s role as a global financial hub, deputy finance chief says.

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United States

Outside In | US the ultimate loser as Iran war ushers in global power upheaval

Defeated by asymmetric warfare and spurned by allies, the US has ended up boosting China’s economy and standing instead.

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US President Donald Trump arrives to deliver a speech at the Mack Trucks Lehigh Valley Operations facility in Macungie, Pennsylvania, on June 23. Photo: Getty Images via AFP
China energy security

China green-energy costs seen undercutting traditional energy as capacity soars

Energy-storage chairman eyes ‘0.1-yuan era’ for equipment as solar and wind projects gradually sideline coal in the nation’s power-generation mix.

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Malaysia

Video | Dirt-cheap ‘durian tsunami’ sweeps Malaysia

The oversupply of premium Musang King durians has caused prices to fall to as low as 9 ringgit (US$2) per kg.

China food security

Global farming, Chinese food imports at stake as El Nino threatens drought

Sharpest risks to occur in the Global South, with countries facing conflict and economic stress being the worst hit: United Nations’ FAO.

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An aerial view of barren farmland on the banks of the Cipamingkis River in Indonesia's West Java province. Photo: NurPhoto via Getty Images
Japan

Macroscope | Why Japan’s proposal for G7 critical mineral stockpiles is a bad idea

Tokyo’s overtures towards the G7 assume that China is a threat to be countered with economic or security measures.

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(From left) Japanese Prime Minister Sanae Takaichi, US President Donald Trump, Canadian Prime Minister Mark Carney and German Chancellor Friedrich Merz prepare for a group picture at Hotel Royal during the G7 summit in Evian-les-Bains, France on June 16. Photo: EPA
Hong Kong stock market

Chinese metal producer MMG to raise US$1.6 billion selling stocks and bonds

Firm to capitalise on AI-led price spike of critical metals used to create chips, generate electricity and support computing power.

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Japan

Japan, Italy to boost tech, critical minerals cooperation

The nations seek closer ties, particularly on supply chains amid concerns about over-reliance on China for critical minerals.

China trade

After US-Iran deal, tanking oil prices, analysts see ‘grey area’ for China firms

‘There’s still uncertainty on the longevity of this deal’, ING analyst says as traders wait to see if sanctions will be lifted while weighing potential for Israeli interference.

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A tanker is seen unloading imported crude oil at a terminal port in China’s Shandong province on Tuesday. Photo: AFP
Indonesia

Asian Angle | Indonesia’s nickel rule changes are spooking Chinese investors

A leaked grievance letter reveals how Jakarta’s resource nationalism risks driving essential Chinese capital away.

A worker processes nickel at plant in Sorowako, South Sulawesi, Indonesia. Photo: EPA
Investing

Why gold may rebound 13% this year – and what could hold it back

Metal’s upside rests on central-bank demand and easing oil shock, but higher yields and AI spending may temper recovery, money managers say.

Diplomacy

Outside In | Central Asia is finally coming into its own

The region’s five countries, inadvertent beneficiaries of Chinese infrastructure investment, then wars and tariffs elsewhere, are finding their feet.

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