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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.
South Korea relies on imports for about 45 per cent of its naphtha demand. Photo: Shutterstock
Semiconductors

South Korea turns to Russia for naphtha as Asia’s chip industry feels squeeze

South Korea’s return to Russian naphtha – vital for semiconductor manufacturing – highlights Asia’s fragile supply chain amid Iran conflict.

Japan

Japan’s PM will mull top-level talks with Iran at ‘appropriate’ time

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US, Israel war on Iran

How the Hormuz attacks stoke oil-shock fears and memories of 1970s stagflation

Australia

Australia’s Karratha LNG plant closed after cyclone amid fuel shortages

The plant’s co-owner Chevron said it suffered outages at its Gorgon and Wheatstone gas plants, which supply more than five per cent of the world’s liquefied natural gas.

An LNG tanker from the Karratha LNG Plant, off the coast of Western Australia, Australia, in 2003. Photo: SCMP
Hong Kong stock market

China’s CNOOC to boost oil and gas output amid Middle East strife

Country’s largest producer aims to increase output by up to 3 per cent from 2025’s record level.

China economy

Opinion | As oil-shocked world turns to renewables, China will reap the rewards

The biggest losers will be the Middle East and the US, as oil becomes less important and doubts grow about US might.

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China food security

China rushes to stabilise fertiliser market as Iran war chokes off imports

China is pushing firms to release their fertiliser reserves in time for the vital spring planting season, as supplies of key inputs tighten.

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Smoke rises over Tehran following an explosion on March 7. The US-Israel war on Iran has disrupted global fertiliser supply chains, creating issues for Chinese producers. Photo: Reuters
The Philippines

Philippines working with US to obtain oil from US-sanctioned nations

This comes after the Southeast Asian nation, which relies heavily on imported fuel, declared a state of national emergency on Tuesday.

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US, Israel war on Iran

African producers may have energy edge in Iran war, if they can overcome hurdles

Analysts say oil from Africa may be lower-risk alternative, coinciding with a fresh push for infrastructure to supply Europe.

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Banking & finance

Opinion | Why a global private-credit meltdown would hit China hard

It could leave emerging economies scrambling for financing just as their repayment obligations to Chinese lenders mount.

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People wait to cross a road in Beijing on March 6. A private-credit crisis could prompt a wave of restructuring of loans due to China, complicating its efforts to counter a structural downturn. Photo: AFP
China manufacturing

Buying goods in China? Suppliers forced to scale back as Iran war bites

Some Chinese producers are already feeling ‘intense’ strain as the conflict sends energy, logistics and raw material costs soaring.

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Smoke and flames rise above Tehran after air strikes on an oil depot on March 7. The economic disruptions caused by the US-Israel war on Iran have pushed up costs for Chinese manufacturers, causing some factories to halt production. Photo: TNS
Middle East

Opinion | As the Gulf grows riskier, the Arctic is gaining strategic weight

As traditional energy centres become less stable, the Arctic’s resources, shipping routes and infrastructure are growing in importance.

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Japan

Japan to start release of state oil reserve on Thursday to ease Iran impact

Japan sources nearly all crude oil from overseas and relies on the Middle East for over 90 per cent of its crude oil imports.

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The Philippines

Philippines declares energy emergency over Middle East conflict risks

The country has around 45 days of fuel supply based on ‌current consumption levels.

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A Jeepney driver refuels his vehicle with diesel at a fuel station in Manila on Monday. Photo: AFP
Diplomacy

Opinion | Look East? South Asia’s fate is far more intertwined with Middle East

Beyond oil, remittances and cultural ties, trade and defence pacts in recent years have added to strategic and security interconnectedness.

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Saudi Crown Prince Mohammed bin Salman and Pakistan Prime Minister Shehbaz Sharif hug after signing a defence pact, in Riyadh, Saudi Arabia, on September 17, 2025. Photo: Reuters
Mergers & Acquisitions

China’s Zijin Mining clinches US$2.6b Chifeng Gold takeover in expansion drive

The acquisition boosts Zijin’s reserves amid resource nationalism, giving it control of Chifeng’s assets in Asia and Africa.

Central banks

Gold slides as hawkish Fed and strong US dollar override geopolitical fears

Market watchers point to fading hopes of interest rate cuts and oil-driven inflation concerns as key drivers of the decline.

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US, Israel war on Iran

US approves sale of Iranian oil at sea in move to ease crude supply crisis

The US says the move will bring 140 million barrels of oil to markets, even as Iran says it has no surplus crude to sell globally.

Flames rise at the site of airstrikes on an oil depot in Tehran on March 7. Photo: TNS
The Philippines

Why Philippines struggles to tap its US$1 trillion mineral wealth

Without a proper road map to grow its mining sector, the country remains a ‘second-tier mineral economy’.

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China shipbuilding

‘Not easy’: Japan mulls building its own LNG carriers amid Iran energy crisis

China and South Korea dominate global production of vessels for carrying natural gas, but Japan now sees industry as key to its energy security.

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US, Israel war on Iran

Opinion | Iran war revives pandemic-era shocks – and may go further

As war in Iran quickly reshapes energy flows, trade routes and political alignments, the crisis may mark the start of a more volatile new phase.

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A delivery bike motors along a highway as a FlyDubai aircraft prepares to land while smoke rises from a fire near Dubai International Airport on March 16. Photo: AFP
Hong Kong stock market

Recession fears grip markets as energy facilities under fire in Middle East

Risk-off mode takes hold as attacks bring crisis to ‘a more dangerous level for the global economy’, analyst says.

A file photo shows the Ras Laffan Industrial City, Qatar’s principal site for production of liquefied petroleum gas. Photo: AFP
Semiconductors

Korea, Taiwan chip sectors most exposed to helium shortage amid Middle East war

South Korea and Taiwan face the highest risk as they source most of their helium from Qatar, while Japan is seen as relatively stable, Fitch says.

Indonesia

Half of Indonesia is travelling for Eid as US$100 oil threatens state finances

A US$100 oil shock is ballooning fuel subsidies towards a deficit cap breach.

Hong Kong economy

Opinion | Iran war shows urgency of Hong Kong’s green shipping transition

As an international maritime hub, the city must speed up green fuel bunkering and strengthen its marine war-risk insurance business.

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Oil storage tanks and oil tankers unloading at Tsing Yi depot, Hong Kong, on March 10. Photo: Sam Tsang
China-Africa relations

China’s supply chain meets the wall of African resource nationalism

As resource-rich nations introduce export bans and other limits, analyst says investment may not automatically follow.

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Zimbabwe, Africa’s largest lithium producer, abruptly suspended exports of raw lithium minerals and concentrates, moving its 2027 deadline forward. Other African nations are also finding ways to assert greater control over their raw resources. Photo: EPA-EFE
Iran

Why the Iran war marks a turning point for Gulf-Asia trade

The closure of the Middle East’s important straits – Hormuz and Bab el-Mandeb – is forcing Gulf and Asian nations to explore other options.

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China stock market

Which Chinese stocks can help investors withstand Middle East war shocks?

Amid rising oil prices and risk-off sentiment, investors should look to sectors where firms have pricing power, analysts say.

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