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.
Illustration: Craig Stephens
US-China relations

Opinion | US-China rivalry morphing into a multifront war with no easy way out

It’s not just trade, tech, student visas and academic collaboration – the military stakes are rising too in this contest of endurance.

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Malaysia

Malaysia’s Kelantan eyes rare earth riches. Can it dig its way out of debt?

US-China relations

Explainer | How dependent is America’s arsenal on China’s critical mineral supply?

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Japan

Japan to cut rice prices by selling directly to retailers

Rice prices have soared in recent months, creating concerns for Japan’s unpopular leadership ahead of upper house elections due in July.

Japan’s new Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi visits the rice section at a supermarket in Tokyo on Friday. Photo: Kyodo
Gold in Hong Kong

China’s Zijin Mining opens gold and copper stock fund to Hong Kong investors

The fund’s manager expects gold to hit US$4,000 this year due to a weakening US dollar and rising demand from investors.

India

India eyes more rice exports over lower tensions with Pakistan, early monsoon

Rice prices have stabilised in Asia after they spiked over supply concerns resulting from the conflict between India and Pakistan.

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Indonesia

Indonesia slams Singapore’s ‘shameful’ fuel prices, plans pivot to US imports

Despite being an oil producer, Indonesia’s low refining capacity leaves it heavily reliant on Singapore for fuel — but that may soon change.

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An oil refinery on Pulau Bukom off Singapore. Indonesia imports a large volume of fuel from Singapore due to its lack of refining capacity. Photo: AFP
Gold in Hong Kong

14% upside for gold by mid-2026 as rate cuts fuel rally, UBS says

Gold is under allocated in investment portfolios and has room to increase, according to the World Gold Council.

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US-China trade war

How China plays the ace up its sleeve – rare earth minerals – in dealing with US

Until the US-China trade war abates and Beijing eases more rare earth export controls, American buyers are expected to take a skittish long-term view of Chinese sourcing.

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Indonesia

In Indonesia, nickel miners warn of mass lay-offs as royalty rise hits profits

The Indonesian government’s bid to boost state revenue and fund projects with higher mining royalties is being met with an industry backlash.

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A worker processes nickel at a smelter on Indonesia’s Sulawesi island. Photo: Reuters
Yuan

Shanghai Gold Exchange eyes Hong Kong vault to promote yuan-denominated products

The new vault will be part of the exchange’s network that international clients use to manage bullion trading and storage.

Gold prices have been hitting new highs as the US-led trade war has spurred demand for haven assets. Photo: Shutterstock
Electric & new energy vehicles

China’s dying EV batteries are powering its circular economy in new-energy era

Recycling critical materials such as lithium, cobalt and nickel are driving profits and shoring up China’s resource security as trade war with US hits supply chains.

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US-China relations

Opinion | Trump’s executive order to boost US deep-sea mining will force China to act

Beijing will continue to sharpen its technological edge, support multilateral governance and may set up maritime joint patrols to monitor the US.

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Food and Drinks

China adds 12,000 coffee shops as mass appeal grows, Starbucks suffers

A presidential endorsement increases thirst for the drink while aggressive expansion and price competition make it more accessible.

Nowwa Coffee’s small outlets are often nested within convenience stores. Photo: Handout
The Philippines

Philippines to slash rice prices in half amid election season

The programme will cost the Marcos government about US$178 million to help the poor, but critics say it is a tool to support government candidates in midterm polls.

Workers move sacks of rice for transport from a National Food Authority warehouse in Metro Manila, Philippines. Photo: EPA-EFE
China trade

US farmers’ loss is Brazil’s gain as China diversifies soybean imports

With tariffs on US soybeans, most of China’s summer imports will come from Brazil, according to the US Department of Agriculture’s April outlook report.

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LME

Why the London Metal Exchange’s Hong Kong warehouses are a big deal

The development marks a pivotal step in strengthening Hong Kong’s position as a strategic commodities hub in Asia, industry leaders say.

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China technology

Opinion | How China’s agricultural modernisation is reshaping global food systems

As sufficiency improves for China and the countries it shares its agriculture+AI strategy with, regional and global trade could be reshaped.

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Staff at a modern agricultural industrial park checking crop growth through an Internet of Things platform in Dingan county in southern China’s Hainan province on February 27. Photo: Xinhua
Pakistan

Pakistan’s mining push: a chance to equal Indonesia’s nickel success?

A landmark deal unlocking vast copper and gold reserves has Pakistan eyeing a transformative economic shift.

Malaysia

Malaysia urged to invest in Uganda’s untapped oilfields as its reserves dwindle

Uganda has an estimated 6.5 billion barrels of petroleum reserves. Malaysia’s reserves stood at 2.7 billion barrels as of 2023.

Climate change

Opinion | China must resist greenwashing its dirty coal habit with green bonds

Can China credibly claim climate leadership while doubling down on its dirtiest fuel?

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Vehicles transfer coal at a port in Chongqing, southwestern China on April 20. Photo: AFP
Mainland China

China takes steps to boost yuan with overseas gold storage facilities

China to explore the internationalisation of physical delivery for specific products traded on the Shanghai Gold Exchange.

Beijing is taking steps to develop an overseas infrastructure for a China-led gold trading system. Photo: Shutterstock
ETFs

Chinese gold ETFs glow as investors chase metal’s historic rise

The mainland’s 13 gold ETFs bulge by US$9.6 billion, as the metal’s lure as a haven asset grows.

India

India targets Chinese shipments with new tariff on steel imports

Effective immediately for 200 days, the tariff marks India’s first major trade policy shift since Donald Trump’s global tariff impositions.

United States

Trump’s Fed feud sparks market turmoil, dollar dips, gold hits record high

Gold soared as investors fled US assets amid fears of Federal Reserve interference.

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A trader works on the floor of the New York Stock Exchange at the opening bell on Monday. Photo: AFP
US-China trade war

China is weaning itself off US soybeans as decade-long outlook comes into view

The days of China relying on America for soybeans could be numbered as agricultural ministry outlook report for next decade puts onus on self-sufficiency.

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The trade of soybeans is among the most contentious battlefields in the US-China tariff war. Photo: Reuters
Durians in China

China’s durian determination yields golden home-grown bounty in Hainan

Tropical Hainan province has defied sceptics and rewarded investors with China-grown durian, but it ‘simply cannot compete’ with booming imports from Southeast Asia.

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HKEX

LME approves Hong Kong warehouses amid growing China metals trade

Milestone by HKEX-owned London Metal Exchange positions city to develop as a metals hub, CEO says.

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