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

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United States

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

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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.

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.

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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Illustration: Craig Stephens
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%.

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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.

China food security

‘Sharp swings’: why China is warning of food security risks despite bumper crops

The country has ample grain supplies but could still face challenges if extreme weather or global conflict spark global shortages, Beijing says.

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A worker sorts imported soybeans at a processing company in Binzhou, China, on March 6, 2025. Photo: Getty Images
Business of climate change

Asia-Pacific firms face credit pressure from Iran war energy shock, S&P says

Higher energy prices ratchet up pressure on manufacturing businesses to maintain their profit margins amid rising raw material costs.

A fuel tanker truck leaves a gas station in Beijing, March 28, 2026. Photo: AP
Malaysia

‘New normal’: Malaysia and Australia strike energy supply pledge amid Iran war

The deal creates a mutual spillover valve, allowing the partners to swap surplus energy once domestic demand is satisfied.

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Hong Kong

Geopolitics to drive Hong Kong mining fundraising amid ‘supercycle’, experts say

Hong Kong could see more mining IPOs as global demand for resources accelerates, though national security issues may slow deals: experts.

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