Asia

The Kremlin announced on Sunday that?Russian President Vladimir Putin and the U.S. The Kremlin said on?Sunday that Russian President Vladimir Putin and?U.S. Yuri Ushakov, Kremlin's foreign policy aide, said that a phone call between Putin - and Trump lasted an hour and fifteen minutes - at Trump's request ahead of Trump meeting with Ukrainian President Volodymyr Zelenskiy in Miami. Ushakov stated that "the main thing is that the presidents from Russia and the United States share the same view that the temporary ceasefire option proposed by the Ukrainians or the Europeans, under the pretext of preparation for a referendum (or...

Three sources familiar with this matter late Wednesday said that China issued 19 million tonnes of export quotas, including gasoline, diesel and jet fuel, in the first batch for 2026. In this batch of export quotas, the world's second largest consumer of oil gave out?8 millions tons of low sulphur marine fuel. Both volumes were stable compared to a year ago. China's refined fuel exports are managed by a quota-based system that balances the fundamentals of supply and demand in its domestic market. The main recipients of the quotas were the state-owned oil companies Sinopec and CNPC. They received 13.76...

Asian shares rose on Wednesday, capping off a year of rapid artificial intelligence-driven gains. Commodities such as gold and silver also extended their bullish trend to new highs, as 2025 approaches. Overnight, on Wall Street the S&P 500 closed at a record high as the long-elusive Santa Claus rally finally took hold. The U.S. economic data that showed the economy expanding at a faster rate than expected in the third quarter helped boost risk sentiment, but also weighed on bonds. Early Asian trading was dominated by gold and silver. Gold spot prices rose 0.8%, to $4,524 an ounce. This brings...

Wall Street opened higher, while the yen fell to near-all-time lows versus the euro. Higher interest rates put pressure on Japanese government bonds. S&P 500 futures rose 0.4%. Nasdaq futures gained 0.1%. MSCI's broadest world share index added 0.2%. Due to the fact that the?U.S. The?U.S. Investors are primarily focused on closing the year before January's inflation and labour market releases," he said. Even though it was a holiday-shortened weekend for most of the world, momentum funds continued to flow to equities and precious metals ahead of delayed data which is expected to show that the U.S. economic growth has...

Asian shares rose broadly on Monday, tracking Wall Street's tech-driven gains. Meanwhile, the yen fell to new lows against the Euro and Swiss Franc due to higher interest rates. Even though it was a holiday-shortened weekend for most of the world, momentum funds continued to flow to commodities, precious metals, and equities ahead of delayed data which is expected to show that the U.S. economic growth has been strong in the third quarter. Median estimates predict an annualised increase of 3.2%. This is due to a sharp drop in imports following a surge earlier in the year before the introduction...

Vladimir Putin stated on Friday that Russia’s terms to end the war in Ukraine are unchanged from what he outlined in June 2024. This is a sign of no compromise, as the United States continues to push for a resolution. Putin outlined the Kremlin stance at the start of his annual press conference that lasts for four hours. He said he didn't see any readiness from the Ukrainian side for a peace agreement, but that there were "certain signs" of a willingness to engage in dialogue. Putin stated: "The only thing that I would like to say is we have...

Tom Westbrook gives us a look at what the future holds for European and global markets. The markets expect that the Bank of England will be the sole mover in a series of central bank meetings on Thursday. A 25-basis point rate cut to 3.75 percent is almost as predictable as the collapse of the top order at the Ashes Test in Adelaide. Investors were reassured by the unexpected drop in UK inflation on Wednesday. However, with inflation at the highest level among G7 countries, 3.2%, it is unlikely that further rate cuts will be imminent. Sterling is down to...

QatarEnergy lowered the term premium on the?al-Shaheen oil loading for February, according to several 'trade sources'. This was due to the weakness of the spot benchmark premiums. The company, which is owned by the state, set February's prices at 53 cents per barrel over Dubai's quotes. This was down from 84 cents in January. Loading of January cargoes The price reduction?followed the decline in spot premiums of Middle East crude oil so far in this month. This was weighed down by abundant supplies on the?market, and an outlook for a surplus in 2026. QatarEnergy has sold five cargoes to Glencore,...

Three people with knowledge of the matter claim that Saudi Arabia's?Midad Energy?is one of the top contenders for the international assets of Russian?oil giant?Lukoil, taking advantage deep political ties between Moscow and Washington. Sources have confirmed that the assets, which are valued at around $22 billion, include oilfields, refineries, and thousands of fuel station worldwide. About a dozen investors have made bids for these assets, including U.S. major oil companies Exxon Mobil, Chevron, and private equity firm Carlyle. Lukoil wants to sell off its foreign operations, which were crippled by the U.S. sanctions that were imposed on October to pressure...

Wall Street was also set to start lower on Tuesday as traders were cautious ahead of important?U.S. jobs data. Investors were eagerly awaiting the October and November U.S. The October and November?U.S. employment reports are due in the later session after the data collection was delayed during the U.S. shutdown. After the Fed's comments when it reduced rates last week were interpreted as being less hawkish that anticipated, this could affect expectations for the U.S. Federal Reserve monetary policy in the coming year. This would strengthen expectations for further rate cuts by 2026. The stock markets dropped during Asian trading....

Early trading Tuesday saw European stocks fall as traders remained cautious ahead of important U.S. employment data. The dollar also remained near its lowest level in the past two months. Investors waited for the U.S. Employment Reports for October and November due later in session. Data collection was delayed during the U.S. Government Shutdown. After the Fed's comments when it reduced rates last week were interpreted as being less hawkish that anticipated, this could affect expectations for the U.S. Federal Reserve monetary policy in the coming year. This would strengthen expectations for further rate cuts by 2026. The stock markets...

Asian stocks fell on Tuesday while the dollar drifted to two-month lows. Investors adopted a cautious stance ahead of the release of several U.S. economic data including the jobs report that could 'help gauge the direction of Federal Reserve policy for next year. Risk assets were under pressure due to the defensive mood, including bitcoin. Bitcoin, which?hit an all-time low of two weeks in the previous session, was down by 0.3%, at $86,017.67. Nasdaq Futures dropped 0.8%, and European Futures declined 0.5%. Hang Seng's technology index fell 2.7%. The MSCI broadest Asia-Pacific share index outside Japan fell by 1.45%, its...

Silver rose above $80 per ounce on Monday for the first-time, fueled by a strong industrial and investment market, persistent shortages of supply, its recent designation as "a U.S. Critical Mineral" and a wave momentum-driven purchases. Prices fell 4.2% at 0830 GMT, after a record high of $83.62 was reached earlier in the day. Investors booked profits and a easing of geopolitical tensions reduced demand for safe havens. Spot silver is up more than 160% in the last year, outpacing gold’s rise of over 70%. How does silver trade work? Over the Counter London is the largest marketplace for physical...

Prices of copper trimmed gains as the Asian markets closed on Monday. Investors locked in profits after a sharp rise that drove prices to new highs. As of 0740 GMT the benchmark three-month copper price on the London Metal Exchange had risen 3.27%, to $12,560 a metric ton, after earlier setting a new record at $12,960 per ton. After briefly reaching an all-time high of 102660 yuan, the most active copper contract at the Shanghai Futures Exchange has retreated below the 100,000 yuan mark, with a 0.76% increase in daytime trading to 98860 yuan ($14,105.33). Traders said that investors locked...

Iron ore prices rose on Monday, as the top steel-making ingredient's demand was boosted by China's promise to adopt more "proactive fiscal policies" in 2026. The most-traded iron ore contract for May on China's Dalian Commodity Exchange closed morning trade at 800 yuan (114.12 dollars) per metric ton after reaching its highest level at 803 yuan at the start of?the session. As of 0343 GMT, the benchmark January iron ore traded on Singapore Exchange rose 1.32% to $106.05 per ton. The price of iron ore in January hit its highest level since November 27 at $106.3. China's Finance Ministry said...

As investors took profits and geopolitical tensions eased, precious metals fell on Monday. Silver traded lower after breaking $80 an ounce earlier that day, and gold was a little less than record highs. As of 0242 GMT spot gold was down by 0.4% to $4,512.74 an ounce after reaching a record-high of $4,549.71 last Friday. U.S. Gold Futures for February Delivery lost 0.4% per ounce to $4,536.40 Silver spot fell?1.3%, to $78.12 an ounce. It had earlier reached a session high of $83.62. Tim Waterer, KCM Trade's Chief Market Analyst, said that a combination of?profit-taking and apparently productive talks between...

This week, gold discounts in India reached their highest level in over six months as a relentless price rise curbed retail purchases. Meanwhile,?discounts? in China shrank sharply after reaching five-year highs last week. A jeweller in Kolkata, eastern India said: "People are in festive moods and are travelling so they're not interested in buying at these record high prices." On Friday, domestic gold prices reached a new record of 139.286 rupees (1,550.34 dollars) per 10 grams, after a rise in spot gold rates internationally. Spot gold reached a new high of $4.530.60 an ounce due to speculative buying and momentum-driven...

Iron ore futures rose on Friday after China announced it would continue its export licensing plan, but they 'ended the week lower due to a rise in inventories and a decrease in demand. The most-traded contract for May iron ore on China's Dalian Commodity Exchange(DCE) rose 0.71% to 783 yuan ($111.74) per metric ton. The contract was 0.06% less than the previous week. As of 0711 GMT, the benchmark January iron ore price on the Singapore Exchange dropped 0.62% to $1004.7 per ton. China announced on Friday that from 2026 until 2030, it will continue to regulate the production of?crude...

China's top economist said that from 2026 until 2030, it will tighten up its oversight of copper and alumina project to prevent irrational investments and disorderly growth. In an article?on a website?, the National Development and Reform Commission said that local governments should strengthen feasibility studies and align their approvals to national industrial policy. The commission's guidance focuses on copper and alumina industries, which it said were key to both economic and military development, but whose growth must also take into consideration "differences between regional industrial bases, resources endowments, and environmental capacity." The NDRC stated that China would also encourage...

Shanghai copper reached a record-high on Friday. This was supported by signs that the copper concentrate supply would continue to be?tight next year. A weaker dollar also boosted sentiment. The most active copper contract at the 'Shanghai Futures Exchange' was up 3.5% to 98.550 yuan (US$14,064.31) per metric ton by 0327 GMT, after reaching an all-time peak of 98.590 yuan earlier in the day. On Wednesday, the London benchmark reached a high of $12,282, which is close to the $12,300 level. Sources said that the top copper smelters of China did not set guidance for copper concentrate processing charges in...

Shanghai copper hovered just below a new record high on Thursday as Chinese demand increased and the U.S. Dollar weakened. The most active copper contract on the Shanghai Futures Exchange ended daytime trading up by 1% at 96,210 Yuan ($13732.51) per metric ton. Shanghai copper reached an all-time record of 96.750 yuan per ton on Tuesday, while?London's benchmark also hit a high at $12.282, close to the $12.300 mark. The London market is closed over the Christmas Holiday. The rise in copper was due to a surge in Chinese demand as the holiday season approached. Yangshan Copper?premium The price of...

Tadashi Imai, Chairman of the Japan Iron and Steel Federation, said that China's proposed export-licence requirements would not be effective in curbing export volumes or supporting a recovery in prices. China, the world's biggest steel producer, will implement a licensing system in 2026 for export regulation. This is because robust shipments of metal have fueled a protectionist backlash around the globe. Imai said at a press conference that the permits are aimed at controlling quality. China's steel exports have become a global concern. Japan is among the countries that criticize Chinese firms for receiving government subsidies which?encourage exports at low...

Sources said that the top copper smelters of China did not set a guideline for copper concentrate processing fees for the first quarter 2026. This is the fourth time in a row the group has refused to do so, as feedstock shortages have pushed charges to new lows. Two sources familiar with the discussion confirmed that the decision was taken at a quarterly China Smelters Purchase Team meeting. The CSPT is a group of sixteen leading smelters whose advice is often used as a standard in spot concentrate transactions. When concentrate supplies are tight, treatment and refining fees (TC/RCs), which...

Shanghai copper was below its record high Thursday, as the Chinese demand increased and the U.S. dollar weakened. dollar weakened. As of 0330 GMT, the most active copper contract on?the Shanghai Futures Exchange increased 0.40%, to 95,640 Yuan ($13.651.55) per metric ton. Shanghai copper reached an all-time record of 96.750 yuan?a ton, and the London benchmark?also hit a high at $12.282, which is near the $12.300 mark. The London market is closed over the Christmas Holiday. The rise in copper was due to a rise in Chinese demand as we approach the holiday season. Yangshan Copper Premium The price of,...