Asia

Japan's crude oil imports increased by 17% from the previous year in July, as a result of a surge in U.S. Official data released on Monday showed that?shipments, a resurgence in Saudi Arabian purchases and lower supplies from Middle Eastern producers were offset by a rise in?supplies. The Ministry of Trade, Economy and Industry reported that imports increased to 2,38 million barrels a day (11.72 millions kilolitres) for the second consecutive month despite disruptions caused by the U.S./Israeli war against Iran. Imports to?the Middle East dropped 21.4% from July. The United Arab Emirates, Japan's two largest suppliers, and Saudi Arabia...

Wayne Cole gives us a look at what the future holds for European and global markets. This week began with a bang in Iran, as U.S. troops struck two missile launchers in the Strait of Hormuz on Larak Island. Meanwhile, Tehran attacked U.S. Forces in Jordan. The post by President Trump that Kharg Island was Iran's main oil port, "was being blown to smithereens" did not help, though the military had not confirmed this. It seems that Iran tried to use rockets for laying naval mines in strait. This is a challenge to U.S. Military who claimed last week they...

Oil prices fell for the first time in three weeks last Friday as investors weighed Gulf developments and awaited Kevin Warsh's potentially market-moving comments. Brent fell 0.6% to $89.2 per barrel, close to the middle of its range since mid-June. The benchmark was still on track to drop more than 5% this week. Attention is focused on an upcoming deal between Iran, Oman, and the U.S. on the management of traffic through the Strait of Hormuz. The fall in oil prices combined with the rally in technology shares after Nvidia’s results on Tuesday helped the?MSCI all country world share indices...

After a technology rally fueled by Nvidia, shares in Asia slowed down on Friday. The currency and bond markets waited for the most powerful central banker of the world to comment on U.S. rates. The oil prices are headed for a weekly loss as Iran and Oman have agreed to share'revenues and administer 'traffic along the Strait of Hormuz, even though Washington is not interested in restarting direct talks with Tehran. Brent fell 0.4% to $89.33 per barrel, but the weekly decline was expected to be over 5%. The Nikkei, Japan's stock market index, rose 0.5%. Taiwanese stocks gained 0.8%...

The shares in Asia were cautious after the technology rally fueled by Nvidia, and currency and bond markets awaited the words of the world's largest central banker on U.S. rates. The oil prices are headed for a weekly loss as Iran and Oman have 'agreed' to share revenues and administer traffic in the Strait of Hormuz, even though Washington has shown little interest in restarting direct talks with Tehran. Brent fell 0.1% to $89.63 per barrel, but the weekly decline was expected to be over 5%. The Nikkei, Japan's stock market index, rose 0.5%. Taiwanese stocks gained 1.2%, after Nvidia's...

Shipping data shows that Turkey increased its diesel imports from the United States and India to record levels in August. This was due to a Russian ban of diesel exports, and to wider disruptions caused by Iran's war. According to Kpler, the commodities data firm, Turkey has imported Indian diesel at a rate of more than 120.000 barrels per day, while its imports from the U.S. have reached 90,000 barrels per daily. Kpler data dating back to 2017 shows that these volumes are the highest monthly totals ever recorded. After Ukrainian strikes on refineries disrupted the domestic supply, Russia has...

Gregor Stuart 'Hunter' gives us a look at what lies ahead for the European and Global markets. It's Nvidia now. We just live there. The chip designer has forecast a 70% increase in revenue for the next fiscal year. This is a rare announcement from the largest?company? of sales that far in advance. CEO Jensen Huang also expressed confidence that the demand for AI chips would continue to grow until early 2028. The stock rose almost 5% after hours, with little sign that it would slow down. This was after The Information reported that Nvidia had?agreed' to pay $12.9 Billion...

Asia's crude oil imports in August were still far below levels before the Iran conflict began, which raises questions about how much crude actually leaves the Middle East. According to Kpler's data, the top-importing continent will see arrivals of 23,12 million barrels a day (bpd). This is a slight decrease from July, when 23.36 million bpd was recorded. Imports are also down by almost 4 million barrels per day (or 14%) from the average of 26.91 million barrels per day in the three-month period ending February. The United States and Israel launched an attack on Iran on 28 February, prompting...

Stocks climbed at the beginning of Thursday's Asia-Pacific session, as Nvidia beat expectations. This boosted tech hardware manufacturers' confidence and revived investor confidence after overnight data showed that the Federal Reserve preferred U.S. Inflation measure was still hot. MSCI's broadest Asia-Pacific index excluding Japan rose 0.7% and is on course to extend gains for a third day in a row after Nvidia announced that its quarterly revenues had more than doubled, and forecasted third-quarter revenue well above Wall Street expectations. In after-hours trades, the AI chipmaker's stock jumped by 4.7%. This lifted S&P 500 e-minis futures 0.4%. Chris Weston said,...

Iran and Oman reached an agreement over their share of the Strait of Hormuz, and its revenues. However, the waterway won't reopen if the U.S. doesn't accept their conditions. Iran and Oman held intermittent talks about the control of traffic through the Strait. The strait handled one-fifth the global oil and LNG shipments prior to the start of the war in February. Tehran and Washington both imposed separate blockades to try to gain control of the channel. This has led global energy prices up. The Strait of Hormuz is owned by Iran and Oman... After a month of negotiations, we...

Investors in global share and bond markets were calmer on Tuesday, as they shrugged off U.S. plans to extend sanctions against Iran?and started preparing for the results of Nvidia, the world's most valuable company. U.S. Treasury Sec. Scott Bessent warned on Monday that countries would face secondary sanctions if they did not cut financial ties to Iran as part of the "economic D-Day," which was dubbed by some as an "economic D-Day." However, the Treasury Department stopped just short of imposing actual penalties. The report that the U.S. Treasury may use its cash account to fund increased U.S. government debt...

Rae Wee gives us a look at what the future holds for European and global markets. The?session began in Asia with a muted tone, as stocks drifted ahead of Nvidia’s upcoming?earnings, where high expectations are being placed on the artificial intelligence darling. Alibaba's $10.2 billion sale of shares at a steeply discounted price to fund its AI plans and Samsung Electronics disappointing shareholder-return program in the previous session weighed on technology shares. A roughly 45% drop in?the share price of Unitree after a five-fold increase on its Shanghai debut triggered concerns over bubble risk, retail investors losses, and flaws within...

Shanghai zinc rose on Monday as a result of tightening supply outside China. This is the best month for Shanghai zinc since January. By 0715 GMT, the?most traded zinc contract at?the Shanghai Futures Exchange had risen?1.66%. It was now worth?26.710 yuan (US$3,975.35) per metric ton. This brought its August gain up to 5.57%. It is the largest monthly increase since January. The metal is mainly used to galvanize steel. Zinc shortages outside China are encouraging exports of zinc from?China. Daniel Hynes is a senior commodities analyst at ANZ. He said that the stockpiles in zinc LME warehouses have fallen by...

Two?sources who are familiar with the situation said that the head of China Iron Ore at Radiant World is leaving the company. The trading 'company' has been under scrutiny and many counterparties have stopped doing business with it. Sources said that Leon Jin was on his last day of work at the trading house, Monday. According to 'his LinkedIn profile', he joined Radiant World after spending more than 10 year with Trafigura. The sources requested anonymity because they were not authorized to speak with media. Some banks have frozen accounts of 'Radiant World,' and some trading houses have cut ties...

Data released on Friday showed that India's industrial output growth in July slowed down to 6.7% year-on-year, as mining activity declined. Manufacturing and electricity outputs also saw a decline. Economists surveyed by expected that industrial production growth would slow in July to 6% from an 8.8% revised month earlier. In?May the government had switched to using producer prices instead of wholesale prices when calculating factory output. KEY NUMBERS * The manufacturing output increased by 7.3% on an annual basis in July, compared to a growth rate of 9.5% that was revised in June. * The generation of electricity increased 8.7%...

According to the website of the Singapore Supreme Court, Japan's Mizuho Bank Ltd filed a case against the Singapore Iron Ore Trader Radiant World's 'operating entity'. A court listing revealed that Mizuho Bank is the banking division of Mizuho Financial Group and they are seeking an injunction to stop Radiant World Corporation from doing business. Could not find any other public legal action taken by a Radiant World creditor. Radiant World accounts have been frozen by some banks and trading houses have cut ties with the company over concerns that it had submitted invalid invoices to raise funding. Singapore Police...

Zinc prices fell Thursday, as rising inventories eased concerns over supply shortages outside China. This ended a six session rally during which speculative purchases pushed the metal up to its highest level in four years. By 1002 GMT, the benchmark three-month Zinc on London Metal Exchange had fallen 1% to $3,855 per metric tonne. On Wednesday, the contract reached $3,949.5 - its highest level since June 2022. The daily LME data revealed that zinc stocks reached a three-week high after 1,100 tonnes of new inflows into the LME registered warehouses in Singapore and Hong Kong. Analysts anticipate more inventory to...

Zinc prices dropped - and were about to end a six day winning streak on Thursday. A firm dollar weighed down the support of a 'thin supply outside China', while also pulling other industrial metals down. The benchmark three-month price of zinc at the London Metal Exchange fell by 0.96%, to $3.855.5 per metric ton as of 0700 GMT. The most traded zinc contract at the Shanghai Futures Exchange was down by 0.44% to 26,140 yuan (US$3,889.71) per ton. As the market prepares for U.S. Federal Reserve Chair Kevin Warsh's awaited speech in Jackson Hole, the U.S. Dollar Index has?gained...

The gold?prices eased Wednesday as they were on track to end a three-session winning streak. However, the focus now shifts to the U.S. Inflation data that will be released later in the afternoon for any indications on the Federal Reserve’s interest rate policy. Spot gold dropped 0.8% by 1114 GMT to $4,618.03 an ounce, after prices rose to their highest level since May 14, on Tuesday, following the U.S. Treasury Department?s recent bond buyback announcement. U.S. Gold Futures fell 0.4% to $4673.90. Nikos Tzabouras is a senior market analyst at Jefferies owned Tradu.com. He said that gold prices were subdued...

On Wednesday, zinc?prices reached their highest level in over four years on a combination of speculative and supply concerns. The benchmark three-month price of zinc at the?London Metal Exchange rose 0.4% to $3,907 per metric tonne by 0945 GMT. This was its highest since June 2022. Zinc, which is mainly used for galvanising steel, has suffered from regional disparity. Stocks are eroding at warehouses registered with LME, while they pile up in China. Local shortages of zinc have pushed the cash LME zinc premium over the three-month Futures. To $132 per ton. This is up from $0 in early July,...

Norilsk Nickel, the largest palladium producer in the world, announced on Wednesday that its board recommended a dividend for the first half 2026 of 1.85 Rubles ($0.0219) per share. In a press release, Chief Financial officer Sergey Malyshev stated that the company has sufficient cash flow and a comfortable debt level to make the payment, adding that this would help maintain its attractiveness. Nornickel shares were still down 1.7% at 10:41 local time (741 GMT) on the Moscow Exchange. The miner last paid an interim dividend to its shareholders in 2023. It offered 9.15 roubles per share. It reported in...

The copper price rose to its highest level in six months on Wednesday, boosted by supply concerns over dwindling LME inventories and a positive economic outlook. By 0300 GMT, the benchmark three-month price of copper at?the London Metal Exchange had risen by 0.49% to $14,419.5 per metric tonne. The price of a ton reached $14,437 earlier in the day, its highest level since January 29. The Shanghai Futures Exchange's most traded copper contract rose by 1.11%, to 109 360 yuan (16,272.36) per ton. Non-traditional copper players, such as hedge funds and speculative traders trading on volatile LME inventory figures, have...

London's zinc market is still a hazardous place for bears. Metal that was expected to drop in price this year has risen. The London Metal Exchange's (LME) 3-month zinc reached a new four-year high of $3,858 a metric ton on Tuesday morning. The relentless rally has been accompanied by an abrupt contraction of the LME time spreads. This is particularly worrying for holders of zinc short positions. The premium for cash Metal?over a three-month delivery The price of a ton has dropped to $131, which is a significant drop from last October's record high of $323. The tightening market this...

Sinomine Resource Group announced that it had secured an export quota of 'another 300,000 metric tonnes of 'lithium -concentrate' from Zimbabwe. Zimbabwe, Africa’s leading producer of lithium metal for batteries, introduced export quotas on April 1st after temporarily stopping concentrate shipments from February due to alleged leakages and malpractice. It has been pressing the mining companies to process more battery metal in-country, as it aims to maximize the economic benefits from extractive industries. The country will ban exports of lithium?concentrates in January 2027. Sinomine, the company that operates the Bikita Lithium Mine in Zimbabwe, stated in a half-year?report?seen on Tuesday?that...