Asia / Pacific

Sergei Lavrov, the Russian foreign minister, told his Indian counterpart at a meeting in Moscow on Thursday that Russia and India had achieved good results with their energy cooperation. Moscow is also interested in working together on joint energy projects. Since U.S. president Donald Trump raised tariffs on Indian imports earlier this month due to its purchase of Russian oil, Moscow and New Delhi have talked about their "strategic partnerships". "We are seeing good results from our cooperation in the hydrocarbons sector. We supply Russian oil to India. We have a shared interest in developing joint projects to extract energy...

Shares in Australia's Whitehaven Coal bounced back from early declines on Thursday, as the miner posted a smaller-than-expected decline in annual profit and plans to boost shareholder returns. The largest independent coal mining company in Australia announced a final payout of 6 Australian cents for each share. This was higher than the Visible Alpha consensus estimate of 5 Australian cents. Whitehaven also plans to spend A$48million on share buybacks. The shares ended the day 3.1% higher, at A$6.63, ending a losing streak of six sessions. Stocks had fallen more than 4% in the morning after the results. Whitehaven reported a...

The Dutch and British wholesale prices of gas traded in a narrow band on Thursday morning as a slight decrease in temperatures, which boosted residential demand, was offset by higher renewable production. LSEG data shows that the benchmark Dutch front-month contract was up 0.65 euros to 32.42 Euro per megawatt hour or $11.08 per mmBtu at 0921 GMT. The British front-month price rose 1.32 pence to 80.33 pence/therm. However, the day-ahead price increased 0.10 pence to 80.30 pence/therm. According to Wayne Bryan, principal of gas research at LSEG, the fundamentals for the day are balanced with an increase in local...

Sinopec Shanghai Petrochemical Co reported a net loss for the first six months of 2025 due to lower demand in refining products and chemical products. According to the report, Sinopec posted a net loss between January and June of 462.1 millions yuan (64.40million dollars). This compares to a profit of 27.9 millions yuan the previous year. Net sales fell 10.66%, to 33.498 billion Yuan, while sales of chemicals and refining products were down 16.14% and 3.21 %, respectively. The company stated that the market is still challenging with a strong supply and a weak demand. New-energy vehicles are increasing in...

Ukraine's Prime Minister said that at least 14 people were injured in a Russian attack overnight on the northern Ukrainian region of Sumy. This included a family with 3 children. The strike occurred at a moment when President Donald Trump was making intense efforts to end the Russian war in Ukraine. Local prosecutors reported on Telegram that Russia had launched 15 drones early Wednesday morning in an attack on the Okhtyrka region. Yulia Shvyrydenko, the Prime Minister, wrote on X that the children who were injured in the attack in a residential area of the town were aged 5, 4...

Officials from the South Korean government announced on Wednesday that ten petrochemical firms have agreed to restructure operations and reduce their capacity to crack naphtha. The South Korean government is putting pressure on the petrochemical industry, which it claims is "in crisis", to accelerate restructuring in order to increase efficiency and boost margins. At a meeting with the Minister of Trade, Industry and Energy Kim Jung Kwan, executives from the companies signed a restructuring agreement that was industry-wide. According to the industry ministry, companies have agreed that they will reduce their annual capacity for naphtha cracking by between 2.7 and...

Peter Magyar, the leader of Hungary's opposition party, has asked Russia to refrain from interfering in its politics. He said that there was no way for meaningful co-operation without respecting his country's sovereignty. The Russian Foreign Intelligence Service published a statement earlier this week in which it described Magyars as loyal to the "globalist elites", and claimed that the European Commission is considering "regime changes in Budapest." Magyar's Tisza Party, which is ahead of Prime Minister Viktor Orban’s Fidesz at the polls in the majority of polls before the parliamentary elections next spring, has published an open-letter to Russia's ambassador...

Peter Navarro, White House's trade adviser, said that India's purchases were funding the war in Ukraine by Moscow and must stop. He added that New Delhi is "now cozying up with both Russia and China." Navarro, in a recent opinion piece, wrote: "If India wishes to be treated like a strategic partner by the U.S. it must act as such." Published by: Financial Times. India's Foreign Ministry said that the country was unfairly singled-out for purchasing Russian oil, while the United States continues to buy goods from Russia. U.S. president Donald Trump imposed an additional 25% tariff on Indian products...

After a decline in the early trading, oil prices remained largely unchanged Monday as the United States did not exert any further pressure on Russia for it to end the Ukraine War by disrupting its oil exports after a meeting between the leaders of both countries. Brent crude futures fell 6 cents or 0.09% to $65.79 per barrel at 0342 GMT, while U.S. West Texas intermediate crude rose 2 cents or 0.03% to $62.82 per barrel. The U.S. president Donald Trump met with Russian President Vladimir Putin on Friday in Alaska and came away more aligned to Moscow regarding the...

The oil prices fell on Monday, as the U.S. failed to exert further pressure on Russia in order to end the Ukraine conflict by implementing additional measures to disrupt Russian crude exports following the Friday meeting between the presidents of both countries. Brent crude futures fell 26 cents or 0.39% to $65.59 a bar by 0028 GMT, while U.S. West Texas intermediate crude was down 18 cents or 0.29% at $62.62 a bar. The U.S. president Donald Trump met with Russian President Vladimir Putin on Friday in Alaska and came away more aligned to Moscow regarding the need for a...

U.S. president Donald Trump said that he would not be negotiating on behalf of Ukraine during his meeting with Russian President Vladimir Putin last Friday and would allow Kyiv to decide whether it would engage in territorial exchanges with Russia. Trump stated that his goal was for the two sides of the conflict to begin a dialogue, and any territorial swaps would be discussed at this time. "They will be discussed but I have to let Ukraine decide, and I believe they will make the right decision." "I'm not here for Ukraine to negotiate, I'm there to get them to...

QatarEnergy lowered its term price for al-Shaheen oil loadings in October. It now stands at $2.52 per barrel, a dollar higher than the Dubai quotations, according to sources on Friday. This was a drop of 81 cents compared to the high of $3.33 per barrel in September for oil loading, which was a five-month-high. The price reduction followed a drop in spot premiums on Middle East crude this month. This was due to rising supply, as the Organization of the Petroleum Exporting Countries (OPEC+) and its allies continued their policy of increasing output to regain market share. Qatar sold al-Shaheen...

Copper prices fell Thursday, as markets awaited the Federal Reserve annual symposium in Jackson Hole on Friday and Fed Chairman Jerome Powell's address. At 0941 GMT, the benchmark copper price on London Metal Exchange fell 0.4% to $9685 per metric ton. On Wednesday, it reached $9,670.50 - its lowest level since August 7. The weakness is due to the Jackson Hole conference, where speeches are expected to be very important. "Some risk aversion has also started to creep in, as seen in the decline in tech shares," said Dan Smith of CommodityMarket Analytics. The odds of a Fed rate reduction...

The gold price fell on Thursday, after the minutes of the U.S. Federal Reserve’s July meeting showed that there was a majority in favor of keeping interest rates unchanged. Investors are now looking forward to the annual Jackson Hole Symposium later that day. As of 8:02 GMT, spot gold was down by 0.2%, at $3,340.09 an ounce. U.S. Gold Futures for December Delivery also fell 0.2% to $3382.30. Minutes of the Fed's meeting in July showed that the only policymakers to advocate for a cut were Vice Chair for Oversight Michelle Bowman and Governor Christopher Waller. Carlo Alberto De Casa...

Aluminium was the best performing metal on Thursday, as signs of improved demand from China's top consumer and lower inventories boosted sentiment. The Shanghai Futures Exchange's most traded aluminium contract rose by 0.49% to 20,620 yuan (2,872.83 dollars) per metric tonne. As of 0700 GMT, the benchmark three-month aluminum on London Metal Exchange had not changed much, at $2,575 per ton. The price of aluminium has been supported by the improvement in spot demand. This, coupled with the destocking of certain products, was said under condition of anonymity because he wasn't authorized to speak to journalists. Analysts at Guosen Futures...

Iron ore futures recovered on Thursday, as the production cut mandated ahead of a Chinese military parade seemed to be less severe than expected and shorter. This eased demand concerns. The daytime trading price of the most traded January iron ore contract at China's Dalian Commodity Exchange was 0.78% higher, closing at 772.5 Yuan ($107.63). By 0704 GMT, the benchmark September iron ore price on Singapore Exchange had risen 0.55% to $100.30 per ton. The benchmarks fell for six consecutive sessions, up to Wednesday. This was due to concerns about demand as steelmakers at the top Chinese production hub Tangshan...

James Hardie shares listed in Australia fell by more than 11% Thursday, and are on track for their largest two-day decline ever after the fibre cement manufacturer forecasted 2026 earnings that were below analyst expectations. The company cited a weak North America marketplace as a reason. The share price has dropped 36% in the last two days to A$28.34, losing more than A$9 Billion ($5.78 Billion) in market value. This sell-off reflects broader investor dissatisfaction with Australia listed companies that have failed to meet their targets. The selling began on Wednesday, after the company announced that it would have adjusted...

Iron ore futures recovered on Thursday, as a mandatory production cut in China ahead of a parade military proved to be less severe and shorter that expected. This eased demand concerns. The January contract for iron ore on China's Dalian Commodity Exchange closed the morning trade at 777.5 Yuan ($108.39). As of 0321GMT, the benchmark September iron ore traded on Singapore Exchange was up 1.44% at $102.2 per ton. The benchmarks fell for six consecutive sessions until Wednesday. This was due to concerns about demand, as steelmakers at China's largest steelmaking hub Tangshan had been asked to reduce production in...

CNBC-TV18, an Indian news channel, reported Wednesday that the Indian government had objected to Vedanta’s proposed split into four new firms, claiming the demerger would make it more difficult to collect dues. CNBC reported that the Indian government claimed at a hearing held by the National Company Law Tribunal that Vedanta had modified its demerger plan after receiving a certificate of no objection from the Securities and Exchange Board of India. The NCLT is an independent quasi-judicial tribunal that decides on matters relating to companies. Could not verify the court proceedings immediately. Vedanta said in a press release that it...

Investors are looking for clues about future rate cuts in the Federal Reserve meeting minutes from July and the Jackson Hole symposium of central banks this week. As of 0832 GMT on August 1, spot gold rose 0.2% to $3,321.33 an ounce. U.S. Gold Futures for December Delivery rose by 0.2% to $3364.20. The U.S. Dollar Index was stable after reaching a high of more than a week earlier in the session. This made gold more expensive for holders of other currencies. Han Tan, Chief Market Analyst at Nemo.Money, said that spot gold will likely remain in its sideways range,...

Aluminum prices fell on Wednesday, reaching their lowest levels in over two weeks as the United States increased the import tariff by 50% to metal-made products. However, the hope of a seasonal improvement in demand in the top consumer China helped limit losses. The Shanghai Futures Exchange's most traded aluminium contract closed the daytime trading 0.1% lower, at 20,570 Yuan ($2,864.38) a metric ton. In the early part of the session it reached the lowest level since 4 August at 20,430 yuan. The benchmark three-month aluminum on the London Metal Exchange rose 0.1%, to $2,566 per ton at 0741 GMT,...

Frank Ha, the CEO of China's Tianqi Lithium, said that Tianqi Lithium was open to renegotiating with joint venture partner IGO its stake in Kwinana Lithium Refinery in Western Australia. A lithium price slump has caused operational problems and production delays at the refinery. IGO, the company that owns 49% of the refinery, has written down its value and expressed low confidence in the ability to improve the asset when it filed a report last month. Ha stated during a press briefing that he was "open to any of their suggestions we can discuss." However, he said they had not...

China's rare earth magnet exports have recovered and reached a six-month peak in July. This shows that trade flows for the minerals essential to electric vehicles are back to their pre-export curb levels. The General Administration of Customs reported on Wednesday that exports of the world's biggest rare earth magnet supplier increased by nearly 75% in June, reaching the highest monthly total since January with 5,577 tons. The volume in July, which was in line analysts' expectations was also 5.7% more than the 5,278 tonnes shipped in the same period last year. Exports continued to recover after Beijing signed a...

The price of iron ore futures fell on Wednesday due to a mandatory production cut in China ahead of an upcoming military parade and U.S. restrictions on steel imports. As of 0247 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange was trading 0.65% lower. It was trading at 765.5 Yuan ($106.51), per metric ton. On the Singapore Exchange, the benchmark iron ore for September was down 0.69% at $100.35 per ton. Galaxy Futures said that the upcoming military parade (in Beijing), which will commemorate the end of World War II, and the mandated reductions in...