ASEAN Countries

Four industry sources said on Monday that Hengli Petrochemical International (the former Singapore trading arm of the?sanctions hit Hengli Petrochemical Refinery in Dalian) plans to cease its operations. Three sources stated that the?operation will likely wind down by late May. Hengli Petrochemical, based in China (Dalian), did not immediately respond to an email?requesting comment. Hengli Petrochemical International was a company that employed 100 people and traded mainly oil and petrochemicals before the parent company came under U.S. sanction, according to two of those interviewed. Sources claim that some staff were told they were going to be?made redundant? while others were...

Two sources familiar with the matter said that Trafigura, a global commodities trader, is "among" three companies competing for a 36.36 percent stake in Natref Refinery of South African petrochemical giant Sasol. After the British-based Prax group, which bought the minority stake in South Africa's sole inland crude oil refining plant from TotalEnergies two years ago for an undisclosed amount, went into bankruptcy in 2025, the remaining shares in the 108.500 barrels per daily plant are up for sale. South?African fuels are among the biggest in Africa, and analysts predict that it will continue to grow for?the near future. This...

India's palm oils imports dropped 27% in April to a "one-year low" as refiners slowed purchases due to the sluggishness of demand from institutional buyers, and recent price increases that reduced its discount to competing oils. India's palm oil imports fell 27% to a?one-year low in April, as sluggish demand?from institutional buyers and a recent price rally that eroded?its discount to rival oils prompted refiners to curb purchases, five dealers said. Dealer estimates show that palm oil imports dropped to 505,000 tons in April from 689.462 tons in march. Imports of soyoil rose by 24% in April, compared to March,...

On Monday, the leaders of Singapore signed an agreement with New Zealand to keep their supply chains open in times of crisis. They said they hoped that 'the agreement' would serve as a'model for other countries who want to build a trusted network. On his recent visit to Singapore, Prime Minister Christopher Luxon saw the signing between his Singaporean counterpart Lawrence Wong and himself. This is at a time when global energy supplies have been 'disrupted' by the Middle East war. Singapore refines a third of the fuel used in New Zealand. The Agreement on Trade of Essential Supplies was...

Abu Dhabi National Oil Company notified customers that two crude grades could be 'loaded outside of the Gulf next month, as the Strait of Hormuz was closed. ADNOC is moving the crude grades Das and Upper Zakum from the terminals on Das Island (and Zirku Island) located in the Gulf, to outside locations for loading. The exports of these terminals are down dramatically as there have been fewer ships willing to cross the strait after the U.S. - Iran?war began in late February. ADNOC informed clients that it would make cargoes available to be loaded outside the Arabian Gulf on...

Contemporary?Amperex Tech Co (CATL), the world's biggest EV battery manufacturer, launched a $5 billion share sale on Monday in Hong Kong. The company is looking to capitalize on its shares which are nearing record highs. According to a termsheet seen by, CATL will be?offering HK$628.20 - HK$651.80 for new H shares, a discount ranging from 3.5% - 7.0% on Monday's closing price HK$675.50. The fundraising is part of CATL's efforts to lock in capital as its share price continues to rise. It also faces an EV market in China that is fiercely competitive and where it has been difficult for...

A term sheet showed that a unit of Sinopec had sold 8.5 millions Hong -Kong listed shares of CATL on Wednesday for $770 million. The company was able to cash in on the soaring stock performance of the Chinese electric vehicle -battery manufacturer. The term sheet examined by revealed that Sinopec (Hong Kong), in an accelerated stockbuild, sold shares at HK$708 (US$90.41), a discount of approximately 3.8% from the closing price on Tuesday for Contemporary Amperex Technology Co Ltd (CATL). According to the term sheet, Sinopec also agreed to a 90 day lock-up period on its remaining CATL stake. According...

?U.S. Defense Secretary Pete Hegseth said at a Pentagon press briefing that forces in the Middle East were 'postured' to re-start combat operations if Iran refused to agree to a peaceful deal. He said, "You Iran can choose a prosperous, golden future. We hope you will do this for the people of Iran." "But if Iran chooses badly, they will face a blockade, and bombs being dropped on their infrastructure, power, and energy." U.S. forces have imposed a blockade against all ships attempting to enter or exit Iran as part of a campaign to press Tehran into a deal. "We...

Thailand's growth will be slower this year due to the Iran conflict and there are "nearly no limits" in worst-case scenarios if the conflict continues. A senior central bank official said. The Assistant Governor Chayawadee Chaianant stated that the growth of the Southeast Asian nation was slowing. This is because the country's economy, which is highly exposed to global economic conditions due to its high dependence on imported energy imports, has a low rate of growth. The U.S./Israeli war against Iran has led to a decline in tourism and an increase in import costs. Chai-anant, on the sidelines at the...

The Australian Prime Minister Anthony Albanese met with his counterpart Lawrence Wong in Singapore on Friday. They vowed to work together more closely in order to maintain energy security in the face disruptions brought about by the Middle East conflict. Singapore, the oil trading hub in Asia, is the world's largest petrol supplier and also a major diesel and jet fuel supplier to Australia. In Australia, the shortage of diesel has impacted the mining and farming sectors. The leaders agreed to "maximize efforts" to increase their energy security, including ensuring the flow of diesel and LNG. In a joint press...

The physical oil market is still in a state of turmoil despite a planned two-week stopfire between Iran and the United States. Brent crude oil contracts plunged as much as 16% in the early Asian trade on Wednesday, after finishing at $109.27 on Monday. The sharp drop in prices reflects relief that President Donald Trump's alarming threats against Iran civilisation to be wiped out have been postponed. This also reflects the optimism that crude, refined products and liquefied gas (LNG), may be able to resume and continue through the Strait of Hormuz if negotiations are successful. There is a rule...

Trafigura has not ceased its contracts with Bolivia's oil and gas state company YPFB, a spokesperson for the company said on Thursday. The company was rejecting a claim made by Bolivian Energy Minister Mauricio Medinaceli. Medinaceli announced on Tuesday that Bolivia will suspend its gasoline contracts Trafigura, and with rival trading house Vitol, until the investigation into the alleged smuggling of poor-quality fuel from Chile is completed. Later, on Thursday, YPFB confirmed its main supply contracts are still in effect, ensuring a?continuity of supply. The state-owned company has announced that it has signed an addition to its existing contract with...

The ongoing closure of the Strait of Hormuz may not seem to have much in common with the Indian diet cola consumers, but both are at risk. The world economy will be affected by the second and third round effects of the closure. This is because the price of refined fuels like gasoline and diesel has already increased. Electric vehicles (EVs), which allow drivers to reduce their dependence on fossil fuels, are widely considered one of the biggest winners in the current conflict between Iran and the United States. But EVs have a direct connection to the Strait of Hormuz,...

The chief executive of Australia's Lynas Rare Earths?said that new government?regulations?in the U.S.and Europe?are helping to?push customers?to buy rare earth products?from suppliers?outside China?. China has been the world's leading and cheapest producer of metals and magnets, which are used in industries ranging from automotive to defense. It is also the default supplier for many years. Last year, China's restrictions on some exports in response to U.S. Tariffs left automakers and other industries vulnerable. Washington has since pledged to support higher?earths prices for its top rare?earths producers to spur non-Chinese supplies, but convincing customers to pay more, when there are cheaper...

Data from Indonesian Statistics Agency and Trade Data Monitor, an export-import data aggregator, show that Indonesian aluminium exports increased by more than a?double from the previous months?to the highest level since November 2023. Southeast Asia shipped 88,554 tons of unwrought aluminum in March, up from the 33,490 tonnage of February. The country is expected to increase production significantly this year, at a time when the market is suffering from the shortages brought on by the Middle East war. * The first 'aluminium exports were made in March from Weda Bay, on the Indonesian Island of Halmahera. A smelter owned jointly...

Prices rose for the first day in five on Wednesday, as Chinese demand and worries about disruptions to sulphuric and diesel supplies boosted prices. In official open outcry, the benchmark three-month copper price on London Metal Exchange rose 0.3% to $13,072 per metric tonne. SP Angel analyst John Meyer stated that prices are being supported by the concerns about the shortages of sulphuric acids, which is used in the production of around 20% of the world's copper due to the ongoing conflict. Meyer stated that "China banned exports of acid?and copper miner in Chile gets a certain quantity of their...

Zhejiang Huayou Cobalt announced on Tuesday that the?Indonesian?unit will temporarily stop some production lines starting May?1, cutting about half of the plant's?output. This is after rising sulphur costs increased costs at one its key battery nickel projects. In a press release, the Chinese nickel and copper maker stated that production at the Huafei Nickel Cobalt facility would be cut due to higher sulphur prices as well as the maintenance needed after a period of high-capacity production. The company did not specify how long the interruption would last. The spot price of sulphur for Indonesia has risen to $800 per metric...

A police official said that students and civilians clashed in Papua, Indonesia's insurgency hit region on Monday. Residents demanded the removal of military personnel. The military operation that was conducted in the area earlier this month is alleged to have resulted 15 deaths, including children and women. Operation was conducted against armed separatists that have been seeking independence for the resource rich Papua since 1969 when a vote supervised by?the United Nations placed it under Indonesian rule after more than 60 years of Dutch colonial rule. Last week, the country's human right watchdog confirmed the deaths. It also called on...

Due to slower growth in demand and increased secondary production the 'global refined market' is expected to shift to a surplus 96,000 metric tonnes?in 2026. This will reverse a previously forecast deficit?of?150,000?tons. The organization predicted a surplus in 2027 of 377,000 metric tonnes, but warned that geopolitical factors, such as the 'war in the Middle East' and changes in trade flow could impact market balances. The global refined copper consumption is expected to increase by only 1.6% by 2026 (down from an earlier estimate of 2.0%) and by just 2% by 2027. ICSG stated that the Chinese demand is expected...

China's exports to Chile of sulphuric acids sank to zero in March according to Chinese 'customs' data. The world's largest 'copper-producing nation' is now facing a shortage of the chemical that's used to refine around half of it. China plans to ban exports of sulphuric acids from May, to avoid a shortage in its domestic market. This includes the fertilisers industry. The shipment of acid to Chile has already stopped. It was the biggest market for China's acid exports in 2025, and it accounted for almost one-third. Comparatively, China exported 31,870 tons of acid to Chile between February 2026, and...

According to the International Nickel Study Group, the global nickel market will be in deficit this year by 32,000 tons from 283,000 tons last year. This is due to stricter mining regulations in Indonesia. The Lisbon-based industry group had predicted a surplus in 2026 of 261,000 tonnes, after a surge in production from Indonesia. INSG said its forecast was subject to uncertainty due to Indonesia's production levels and the changing impact of the Middle East Conflict. Indonesia has approved a nickel ore mining (RKAB), which is significantly lower than the level of 2025. The quota can be revised upwards, and...

China's Victory Giant will price HK$209.88 each share at the top of a range, raising HK$17.5billion ($2.2billion) after?receiving a strong demand - from investors, if two sources are to be believed. One source said that the company, which manufactures printed circuit boards used in artificial intelligence servers, and other electronic devices, will also exercise an option to increase the amount of the offering by up to 15%, bringing the total proceeds up to HK$20.2billion. The information was not public yet, so they declined to identify themselves. Victory Giant did not respond immediately to a comment request on Wednesday. According to...

Three sources said that a sulphur scarcity, caused by the Iran War, forced nickel processors in Indonesia to reduce their output?by 10% or more since last month. The cutbacks?have?hit plants using sulphuric acids to process nickel ore, a feedstock for electric vehicle batteries, into mixed hydroxide precipate (MHP), one of the most clear signs yet that U.S. and Israeli war against Iran is affecting mining supply chains. However, output remains relatively high. Sources said that affected plants include those owned by Chinese companies such as Huayou Cobalt and Lygend Resources, as well Tsingshan Group. Requests for comment were not immediately...

The Financial Times reported that Eramet's biggest shareholder, the Duval family, had hired bankers to consider selling its stake in the troubled French mining group. Reports added that the family had appointed Lazard as their advisor to help them explore the options available for its 37% stake and advise them on the capital raising of the company. Eramet didn't immediately respond to a comment request, and the Duval family couldn't be reached. The French mining group announced in February it was planning to raise a capital of?500 millions euros ($583.80) and sell assets in order to boost cash flow. This...