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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.
An oil pumpjack is seen in the US state of North Dakota. The US-Israel war on Iran has upended global oil markets, with stockpiles likely to fall to “critical levels” by summer, according to the International Energy Agency. Photo: AFP
China energy security

Global oil stockpiles could fall to ‘critical levels’ by summer, IEA warns

Even China’s inventories are now starting to decline, with Gulf oil supplies likely to take months to recover even if a peace deal is agreed.

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Japan

Japanese MP’s claim China eyes Antarctic ‘treasure trove’ dismissed

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Science

Can China’s caesium-from-brine tech cut reliance on Canadian, Australian ores?

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Asean

Opinion | Will the US’ Pax Silica deliver for the Philippines?

The Pax Silica plan to make the Philippines a vital node in a US-led tech supply chain is built on seemingly speculative promises and risks riling China.

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US President Donald Trump meets Philippine President Ferdinand Marcos Jnr in the Oval Office at the White House on July 22, 2025, in Washington. Photo: Getty Images/TNS
Indonesia

Chasing billions: Indonesia’s commodity export crackdown sows confusion

New export rules promise billions in recovered revenue, but analysts warn the ensuing chaos could cost more than the gains.

Gold in Hong Kong

Low-cost gold ETF launched as Hong Kong links bullion trading with blockchain

New fund gives retail investors physical gold access from US$45, with tokenised design primed for future trading on regulated platforms.

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China energy security

Stockpiles, distribution hubs: inside China’s drive to Hormuz-proof its economy

Beijing is bolstering strategic reserves and accelerating the buildout of distribution hubs, as China rushes to adapt to the Middle East crisis.

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Chinese Premier Li Qiang (second left) quizzes officials about an oil reserve facility during his trip to China’s eastern Zhejiang province earlier this week. Photo: Xinhua
US, Israel war on Iran

Gold continues decline as inflation fears outweigh hope of end to Iran war

The metal is down nearly 20 per cent from its all-time high in January as investors focus on the Federal Reserve’s plans to combat inflation.

HKEX

Open Questions | Charles Li on making Hong Kong a magnet for global IPOs

As HKEX CEO, Charles Li forged Stock Connect link to mainland markets. He says an ‘IPO connect’ could draw international companies to list in Hong Kong.

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China food security

China hog prices, near decade low, seen squeezing profits amid deflation risks

Ministry data reveals nine-month slump in breeding stocks while top-listed companies face big financial hits as rising fuel and grain costs erode margins.

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A pig is seen in China’s Hunan province. The price of live pigs in the country remains near a decade low. Photo: SCMP
Zijin Mining

China’s largest mining company poised for global top 3 status by 2028, says S&P

Ratings agency highlights Zijin’s project pipeline and cost discipline as the miner accelerates global expansion in copper and gold.

Zijin Mining’s outlook has been raised from “stable” to “positive”. Photo: Shutterstock
Diplomacy

Opinion | Serbia can help build bridges between Europe and China

Serbia’s experience proves that cooperation with China brings concrete benefits to ordinary people, workers and families.

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Semiconductors

China’s biggest contract chipmaker clears final hurdle for US$6 billion takeover

SMNC is to become a wholly owned subsidiary of SMIC, boosting the semiconductor manufacturer’s prowess and market position.

War and conflict

Opinion | Not even a quick end to Iran war can save AI stock bubble now

Rising prices are draining the liquidity from financial markets, including bonds. The AI stock bubble is ripe for bursting.

Vessels at anchor in the Strait of Hormuz off Bandar Abbas in southern Iran on May 4. Photo: ISNA/AFP
Indonesia

Prabowo tightens state grip on palm oil, coal amid monopolistic fears

A state agency will handle exports of palm oil, coal and ferroalloys to stem revenue loss and under-invoicing, the president says.

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Indonesian President Prabowo Subianto delivers a speech to lawmakers as Vice-President Gibran Rakabuming Raka looks on at the parliament building in Jakarta on Wednesday. Photo: AFP
US, Israel war on Iran

Aluminium supply crunch threatens Asia’s clean energy push amid Iran war

Key Gulf plants have been hit by Iranian missiles, causing a drop in output of the metal used in making solar panels and wind turbines.

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China energy security

Putin is pushing for a ‘serious’ new energy deal in China. Will he get it?

The Russian leader arrives in China days after Trump in search of an energy deal, with yuan settlements, pricing potentially on the table.

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Rare earths

Australia to force investors with China ties to divest from rare earths company

The company will force divestment from two individuals and four companies due to Chinese affiliation.

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Northern Minerals is developing a heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence. Photo: Handout
South Korea

South Korea weighs the cost of stepping into Samsung’s US$400,000 bonus row

Seoul is considering using a rarely used emergency power to halt a strike that could cost the economy US$67 billion.

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Science

China’s northeast, poor in rare earths, scores big find

A new type of deposit in Heilongjiang and Jilin promises easier, cheaper mining than in southern clay-rich areas, say scientists.

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China trade

Asia needs ‘institutional toolbox’ to survive global shocks, China experts warn

Ahead of Trump’s China visit, experts at an RCEP forum discuss a supply-chain overhaul, looking to insulate the world’s biggest trading bloc.

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Chi Fulin, president of the China Institute for Reform and Development, speaks at an RCEP forum in Hainan on Saturday. Photo: Handout
Japan

Oil crunch drains colour from 1 of Japan’s favourite snacks

Calbee says it is using monochrome designs for some of its products, as the Iran war has caused a shortage of naphtha used in packaging.

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Calbee, a major Japanese snack food maker, says the switch to monochrome packaging for some of its products would not affect quality. Photo: Shutterstock
Diplomacy

Opinion | Latin America is reassessing the benefits of warm ties with Beijing

From Honduras to Cuba and Venezuela, leaders are taking a more transactional view of what relations with Beijing really bring.

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LME

‘Positive problem’: surging demand strains Hong Kong’s metals storage capacity

15 LME-approved warehouses are already full, underscoring city’s ambition to be a commodities centre – and its urgent need for more space.

South Korea

South Korea draws Gulf oil storage interest as Hormuz stays closed

Saudi Arabia, Kuwait and the UAE are among major oil producers looking to South Korea’s underground storage facilities, officials say.

Oil storage tanks at the Daesan petrochemical complex in Seosan, South Korea. Most of the country’s “oil reserve base” storage facilities have been built underground. Photo: Reuters
Gold in Hong Kong

Hong Kong prepares for gold futures trading: will the fourth time be the charm?

As HKEX eyes relaunch of gold futures, experts suggest extended hours, tax breaks, and storage facilities to ensure success.

HKEX aims to relaunch gold futures in the coming months and has sought market feedback to refine the plan. Photo: Dickson Lee
China economy

Outside In | Prepare for ‘China shock 3.0’ to the global food economy

Imagine China applying the same industry policy playbook for electric cars, solar panels and AI to agriculture and food self-sufficiency.

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Banking & finance

Hong Kong pushes gold futures relaunch as mainland China reserves climb

City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market.

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