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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.
The steel mill in the Serbian town of Smederevo, seen on April 4, 2019, was revitalised with the help of Chinese investment. Photo: AFP
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

War and conflict

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

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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Asean

Opinion | Asia must unite to avert an Iran war food crisis

The energy and fertiliser shocks come amid crucial planting windows for Asia’s farmers, exposing the region’s dire dependencies.

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A farm worker sprays fertiliser on a paddy field at Sabak Bernam, outside Kuala Lumpur, Malaysia on April 1. Conflict in the Middle East has driven up prices of energy, fertiliser and food production. Photo: EPA
United States

Wall Street hesitates, oil prices rise amid uncertainty in Strait of Hormuz

Despite all the uncertainty about how long the war with Iran will last, the US stock market has managed to power to record after record.

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China trade

China’s critical minerals grip faces test as new Asian financing tool launches

Japan, Britain and other nations have pledged millions to the new scheme, as China’s dominance of critical minerals sector faces fresh challenge.

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Gold in Hong Kong

Gold rush: Hong Kong bullion imports from Dubai jump amid US-Iran war

Gold traders from the Middle East and Russia have been selling physical gold in Hong Kong at a discount of 15 to 20 per cent since early April.

Tourists admire gold jewellery at the Gold Souq in Dubai. Photo: Shutterstock
United States

Wall Street rises towards more records as oil prices slip

The main uncertainty for the global economy is where oil prices will go because of the Iran war.

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A trader works on the floor of the New York Stock Exchange on Friday. Photo: AP
Central banks

Gold loses its shimmer in Asia over rising oil prices, hawkish Fed stance

Demand for the metal is likely to remain weak, with central banks not expected to cut interest rates for some time due to high energy prices.

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United States

US economy grows 2% in January–March; Iran war clouds outlook

The economy also recovered from last autumn’s 43-day federal shutdown.

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US, Israel war on Iran

Global oil price hits 4-year high on concerns Iran war could worsen

Global oil benchmark Brent hits $126.41 a barrel, amid warnings it could reach US$150 as peace talks stall.

Vessels in the Strait of Hormuz, as seen from Musandam in Oman on Monday. Photo: Reuters
Hong Kong economy

Industrial costs up 50% in Hong Kong since start of Mideast war: oil executive

Wah Fu Petroleum Company executive pledges to pass on subsidy to customers, while taxi union leader praises government for quick intervention.

A taxi pulls up at an LPG filling station in Yuen Chau Tsai, Tai Po. Photo: Jelly Tse
China trade

Beijing touts mineral dominance, boosts autonomy drive, ahead of Trump’s visit

Ministry of Natural Resources boasts world-leading reserves of 14 minerals and vows to keep boosting output and exploration as geopolitical risks weigh on resources.

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Hong Kong stock market

China oil stocks rise as crude rally lifts Sinopec, CNOOC earnings

First-quarter earnings remain resilient as crude prices surge on Middle East tensions, tightening global supply and lifting margins.

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