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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.
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
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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United States

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

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China trade

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

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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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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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A shopper with a shopping trolley in Centennial, Colorado in the US. Photo: AP
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.

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.

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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Blocks with symbols and atomic numbers of various rare earth elements are seen on a Chinese flag. Illustration: Reuters
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.

China’s oil stocks have been in focus since crude prices spiked following the blockade of the Strait of Hormuz. Photo: Reuters
China exports

How China’s reported sulphuric acid export ban could have global buyers reeling

Foreign firms fear more halts following reports of a ban on the export of the chemical, crucial for fertiliser and battery production.

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Japan

In hot water: Japan’s bathhouses struggle to stay afloat as oil prices spike

“Sentos” have cut operating hours and welcomed fewer customers, with some deciding to fold amid the energy crisis.

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Zimbabwe

Tianqi Lithium favours China’s salt lakes over Africa amid resource nationalism

In response to Zimbabwe’s export ban, two Chinese companies have promised to build a domestic lithium sulphate plant.

Mining trucks load lithium sulphate in Atacama Salt Flat, Chile, on July 29, 2024. Photo: Anadolu via Getty Images
Indonesia

Mixed bag: Indonesia’s 8% growth dream hits a plastic ceiling

Soaring packaging costs amid the Iran war hint at a deeper malaise as the middle class contracts and growth hits a plateau.

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A woman shops for vegetables in Depok, Indonesia, earlier this month near a sign asking customers to bring their own shopping bags. Photo: Reuters
Food and agriculture

Outside In | The Iran war is brewing a food crisis we must avert

The world’s focus has been on energy shortages but famine and widening food insecurity are faces of the same coin.

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US, Israel war on Iran

Is the US in decline? Why Iran war might be the surest sign

In going from international rule-maker to ‘predatory hegemon’, the US is risking it all, Chinese state media and observers warn.

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Semiconductors

Asia’s chipmakers feel the heat as naphtha crunch hits photoresist supply

Japanese suppliers warn of photoresist strain as upstream shocks ripple through Asia’s semiconductor supply chain.

Shortages are expected to hit advanced nodes that rely on extreme ultraviolet lithography the hardest. Photo: EPA
China-Middle East relations

Opinion | China can offer Gulf states more than just a security umbrella

As threat perceptions reset, Gulf states are likely to pursue a dual track of restrained regional policy and diversified partnerships.

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Malaysia

Malaysia’s durian growers in ‘survival mode’ as early glut squeezes export trade

An early bumper harvest and rising fuel and freight costs are squeezing premium durian exporters as they race to get their fruit into China.

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US, Israel war on Iran

Video | World’s top condom maker to raise prices over Iran war

Malaysian condom producer Karex plans to raise condom prices by up to 30%.

ONE condoms by Karex on display in Petaling Jaya, Malaysia April 21, 2026. REUTERS/Hasnoor Hussain
Food and agriculture

Asia braces for food shortages as ‘super El Nino’ and Iran war collide

A precarious planting season looms amid suppressed rainfall and soaring fertiliser costs threatening the region’s harvests.

Women sit and eat rice noodles on the sidewalk in Hanoi, Vietnam, on April 14. Photo: AFP
China-Africa relations

Why China is backing nuclear fuel rod production in Namibia

On week-long trip to China, Namibian minister Selma Ashipala-Musavyi pitches investment case to business leaders in Shenzhen.

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China energy security

China confronts Middle East supply shock, as State Council mulls energy strategy

Premier Li Qiang urges ‘bottom-line mentality’ to secure power as Beijing sees coal and Russian gas among options to offset reliance on imported crude.

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US-China trade war

US firms dash to recover tariffs paid on Chinese imports as refund system starts

Companies scramble on Monday to recover illegally collected tariffs from US government as thousands rush to file claims.

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Companies scramble on to recover illegally collected tariffs from US government. Photo: AFP
Banking & finance

Liquid courage: Hong Kong fund pitches whisky as alternative investment

Fund pitches spirit as hedge and sees downturn as a rare entry point, citing emotional buying and shifting consumption trends.

Whisky has been gaining traction among wealthy investors seeking alternatives to traditional safe havens, according to an investment firm. Photo: Shutterstock
South Africa

Trump backs US$50 million investment for South Africa rare earths

Despite a rift with South Africa, the current Trump administration has proceeded with the project to broaden US access to critical minerals.

Hong Kong economy

Letters | Amid elevated oil prices, Hong Kong’s stable energy system is a boon

Readers discuss the city’s electricity regime, the significance of Russian oil, and the KMT leader’s visit to mainland China.

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