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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.
Chinese President Xi Jinping and African leaders arrive at a forum on China-Africa cooperation in Beijing. China has pledged to cut tariffs on most African imports to zero. Photo: Xinhua
China trade

China’s zero-tariff gambit: why Beijing is slashing duties as Trump raises them

China’s average effective tariff rate estimated to be as low as 1.3 per cent in 2025, helping it secure raw materials and build soft power.

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Brazil

Brazil beef exports seen as stable in 2026 as industry pivots beyond China

Trade

Silver steps out of gold’s shadow as Southeast Asian investors rush in

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Greenland

Opinion | Greenland’s stress test of Nato will ripple beyond the Arctic

Greenland is a test case for how alliances handle sovereignty and trust amid great power rivalry, with important consequences for Asia.

Illustration: Craig Stephens
US-Venezuela conflict

Opinion | Why the US really wants Venezuela’s oil

To win the geopolitical contest, a country needs ample resources, a self-sustaining production system – and the backing of a wider economic bloc.

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US-China relations

Can US-led bloc ease China’s ‘vice-like grip’ on rare earths?

Washington is working with its allies to accelerate projects in rare earths and diversify their supply in response to China’s export curbs.

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Banking & finance

Chinese banks lure investors with gold-linked deposits amid soaring prices

Such products may offer better returns than fixed deposits, but these investments are not without risks, analyst says.

Banks in China are offering investors gold-related products as an alternative for them to diversify their portfolios. Photo: Reuters
US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

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Rare earths

US lawmakers propose US$2.5 billion agency to boost production of rare earths

The US is moving to reduce reliance on China after Beijing used its dominance in critical minerals to gain leverage in the trade war.

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US-China trade war

Trump sets 180-day deadline to counter China’s control of critical minerals

US government warns global suppliers to negotiate agreements to secure reliable, diversified supplies for the US or face new trade hurdles.

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In a proclamation signed on Wednesday, US President Donald Trump declared that the US’ reliance on foreign-processed critical minerals poses a national security threat. Photo: Reuters
Venezuela

Supertankers sailing to pick up Venezuelan oil for China make U-turn: ship data

The Xingye and Thousand Sunny, which have not been the subject of sanctions, head back to Asia after weeks of idling in the Atlantic.

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Several oil tankers off the coast of Venezuela. Photo: Xinhua
United States

Editorial | What happens next in Venezuela should be of international concern

If the US can take over the running of a country in this way, it could be the beginning of a slippery slope.

United States

China and US coexistence in Venezuela possible, US energy chief says

Chris Wright sees a constructive role for Beijing but insists Washington must remain the dominant force controlling Venezuela’s oil flows.

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Mergers & Acquisitions

China’s Sinopec, CNAF to undergo consolidation, creating energy powerhouse

State Council approves reorganisation between Sinopec and China National Aviation Fuel Group, state asset regulator says.

A Sinopec worker walks past LNG storage tanks in Tianjin, China. Photo: Reuters
China-EU relations

Explainer | Trump says Greenland is ‘surrounded’ by Chinese ships. What’s the real story?

China has engaged with Greenland in areas ranging from oil and minerals to tourism. But its footprint is far smaller than Trump claims.

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Icebergs float in the water off Nuuk, Greenland. The United States aims to acquire Greenland, which is a self-governing Danish territory. Photo: AFP
United States

Opinion | Why Asia should be concerned about the US attack on Venezuela

Venezuela matters less as a case in itself than as a signal of how energy is being repositioned amid intensifying US-China competition.

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United States

Opinion | The US now owns more than just Venezuela’s oil

A hard lesson in foreign policy comes to mind: if you break it, you own it. America is now responsible for Venezuela’s failures, factions and future grievances.

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US-Venezuela conflict

Not just oil: is Trump’s Venezuela takeover also about critical minerals?

Venezuela, Greenland and Colombia all have large deposits of rare earths and other minerals needed by US technology and defence companies.

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US President Donald Trump, flanked by senior members of his administration, speaks to the press following American military strikes on Caracas, Venezuela. Photo: TNS
US-Venezuela conflict

What assets does China have in Venezuela, and what may happen with Maduro gone?

US move calls into question China’s future financial commitments in Latin American country, potentially hurting Beijing’s regional strategy.

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US-Venezuela conflict

Gold, oil jolted by US assault on Venezuela as investors recalibrate

Gold and oil move in opposite directions as attack underscores gold’s haven value, fails to alter oil market’s supply glut.

Banking & finance

US dollar, gold rise after Maduro abduction as investors seek safe havens

Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026.

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Venezuelan leader Nicolas Maduro is escorted from a US federal aircraft in New York on January 3, after being captured during a US military operation. Photo: Reuters
Malaysia

Gold rush: Malaysia’s Kelantan to let poor residents dig for precious metal

The move comes as gold prices soared and videos of local Kelantanese panning for the metal were shared online.

Gold nuggets. Malaysia’s Kelantan state opened applications for official licences for small-scale gold panning on January 1. Photo: Shutterstock
Indonesia

New ‘command economy’? Indonesia seizes land the size of Switzerland

Prabowo Subianto’s government has taken over 4 million hectares of plantations and mines since last January.

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China energy security

Maduro capture: is the US trying to grab control of the global oil market?

Removal of Venezuelan leader could be part of US effort to regain global pricing power as petrodollar system comes under strain: analysts.

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US-China relations

China buys two-thirds of pledged US soybeans as 2025 closes

Beijing has moved to reduce tariffs on the crop and lifted import bans on three US exporters after talks between Xi and Trump.

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A combine harvests a soybean field in Tracy, Minnesota, in October. Photo: TNS
China trade

China’s January 1 silver curbs to deepen global crunch amid volatility: analysts

Beijing’s new export-licensing system seen squeezing foreign buyers, pushing price towards US$100 an ounce; Elon Musk joins warning chorus.

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Bars of silver are stacked at a processing plant in Glogow, Poland. Spot silver briefly surpassed US$80 an ounce for the first time in December. Photo: Reuters
China-Africa relations

How Algeria could help China plug iron ore gaps and gain pricing power

The Gara Djebilet deposit in the Sahara Desert was discovered decades ago but is only now coming into production.

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China-Russia relations

Russian LNG shipments to China surge 143% in November, overtaking Australia

Russian LNG accounted for 23.5 per cent of China’s total shipments, cementing Russia as its top energy partner after President Xi pledged deeper ties.

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