Asia / Pacific

The Kremlin's appointed?head for the region confirmed that a Ukrainian drone killed three utility workers in a Russian controlled part of Ukraine’s eastern Donetsk Region on Thursday. Denis Pushilin, on Telegram, said that the drones struck a group of 'workers', who were a repair team for the 'water supply company. They were in a vehicle in Vuhlehirsk north of Donetsk. In the incident, a fourth man was injured seriously. Pushilin stated that four people were injured by other incidents in areas of the region controlled by?Russia. Russia wants Ukraine to give up the areas it controls in Donetsk and says...

Chinese coking coal fell on Friday, but are headed for their best week in six weeks. Beijing's call to ensure energy supplies during summer peak demand only partially offset the supply fears sparked by mine closures following a fatal accident. According to a late-night statement posted on China's WeChat account, efforts should be made to ensure the production and supply primary energy sources like coal and natural gases to meet peak electricity generation needs. Analysts said that this 'helped ease concerns about coal supply losses caused by production halts in mines?in coal rich Shanxi Province after a deadly gas explosion...

The U.S. announced on Thursday that it had imposed 'new sanctions' on the?Irani military oil trade. Washington and Tehran have reached an agreement to extend the ceasefire and remove restrictions on shipping in and out of the Strait of Hormuz. Treasury Department announced that it sanctioned eight vessels transporting Iranian crude and petroleum products to international markets. The eight vessels were the Flora oil tanker, flagged by the Marshall Islands; the Hauncayo crude oil tanker, flagged by the Comoros; and the Ill Gap tanker, flagged with the Panamanian flag. Treasury Secretary Scott Bessent stated in a press release that "we...

EU foreign ministers warned on Thursday that Russia would not be able to choose who represented Europe in any future talks with Moscow about Ukraine. The bloc's chief of foreign policy also said that Moscow showed no real interest for peace. The?ministers? met informally on Cyprus to discuss their strategy towards Russia, as Kyiv calls for greater European involvement in order to end the conflict while the U.S. is focused on the Iran crisis. The Kremlin told the RIA News Agency on Wednesday that Russian President Vladimir Putin was open to talks with Europe. Meanwhile, Ukrainian President Volodymyr Zelenskiy has...

Donald Trump, the U.S. president, said on Wednesday that he is 'not yet satisfied with a deal reached with Iran.' He also added that the U.S. The United States is not 'discussing' easing sanctions against Iran. Trump told reporters that Iran is open to a deal at a White House cabinet meeting. "Iran has a very strong desire to reach a deal. They haven't reached a deal yet... but we won't be. Trump said that we?will either be that or finish the job. He said that under the potential framework agreement?with Tehran that the Strait?of?Hormuz will open immediately, but it...

Turkey will cut its imports of Urals crude from Baltic and Black Sea port this month to the lowest level for almost a year and a half, according to LSEG, Kpler, and trading'sources. Turkey is the third largest importer in the world of seaborne Russian crude after India and China. It mostly buys Urals, and occasionally other grades. Kpler data indicates that Turkey's Urals exports will average 161,000 barrels per day in this month. This is down from an average of 189,000 barrels per day in January-April, and 302,000 barrels per day in May 2025. This is despite the fact...

The Indian share market opened on Wednesday with a?small increase, as caution prevailed over the fragile truce between?the U.S. Iran is a concern amid fears of a Middle East conflict escalation. Iran claimed on Tuesday that the U.S. violated a truce by attacking targets near the contested Strait of Hormuz. This could complicate efforts to end the three-month war. Lebanese sources of security said that Israel's?air strikes against Lebanon on Tuesday, one of the most intense days of bombings in recent weeks, further strained?peace attempts. Iran has demanded an end to Israeli attacks on Lebanon as part any deal. Brent...

Shares of Coal India are expected to be the focus on Wednesday as New Delhi plans to sell a stake in this'state-owned' miner. Iran claimed on Tuesday that the U.S. violated a truce by attacking targets near the disputed Strait of Hormuz. This could complicate efforts to end the three-month war. Israel's air strikes on Lebanon Tuesday, one of the most intense days of bombing for weeks, were more than 120, according to?Lebanese sources of security. Iran wants an end to Israeli attacks on Lebanon as part of any deal. The GIFT Nifty Futures were 23,890.5 at 7:59 am IST....

State media reported that a preliminary investigation into the 'deadliest mining disaster in China in over 15 years' revealed unmarked tunnels, fake doors, and missing trackers. The government has pledged to investigate the incident thoroughly, despite the fact that it is still early in the process. A gas explosion at the Liushenyu Mine in the coal-rich Shanxi province in northern China killed 82 people late Friday night. State media reported that two people were still missing and 128 others hospitalized. This is the worst mining accident to have occurred in China since 2009. A gas explosion in the Xinxing Mine,...

Calculations showed that the price of Russian oil, in roubles, has dropped 11% in May from April due to the strengthening of the rouble and lower global oil prices on anticipation of an agreement ending Iran's war. The Russian authorities use oil prices in roubles to calculate the mineral extraction tax. The?levy is the single biggest tax on the oil sector, and accounts for about a fifth (or more) of the total Russian budget revenue. The calculations show that the average price of oil in April was 7,299 roubles per barrel, the highest level since October 2023. The price in...

U.S. president?Donald Trump said on 'Monday that it should be mandatory for all countries, including Qatar, Pakistan and Egypt, Jordan, and Turkey, to sign the Abraham Accords en bloc as part?of a?effort to reach a?deal with Iran. Trump said he spoke to the leaders of these countries on Saturday, along with Saudi Arabia, Bahrain and Egypt, which has already signed the Abraham Accords. Trump said in a post posted on Truth?Social that it was "mandatory" that at least all these countries sign the Abraham Accords simultaneously. He said that these countries would be honored to have Iran included in the...

The Iran War has impacted crude oil and natural gas markets. However, the impact on coal prices has been muted. Prices for thermal grades are quietly rising to multi-year highs. The conflict between the United States of America and Iran has led to the loss of about 10% of crude oil and a fifth of LNG. However, the thermal coal supply has been largely unaffected by the conflict, despite the fact that the cost of shipping and producing has increased due to higher fuel prices. Coal prices are likely to be driven by a number of factors, including the Iran...

Shanghai copper prices rose on Friday as hopes for a U.S. Iran peace deal pushed the oil price?and dollar lower. This eased fears of higher inflation, and a global slowdown. As of 0324 GMT, the most traded copper contract on the Shanghai Futures Exchange had risen?0.8% to 104,900 Yuan ($15472.55). The contract has increased by 3.7% this month. The price of three-month copper at the London Metal Exchange remained unchanged at $13,699 per metric ton. Both contracts rose for the second consecutive month. Sources told? that the United States and Iran had reached an agreement on Thursday to extend their...

On Wednesday, copper prices reached their highest level since mid-May, as lower oil prices eased inflation worries for the metal that is vital to growth. Aluminium prices remained 'near 4-year highs' amid concerns about reduced supply in the gulf region. The price of three-month copper at the London Metal Exchange dropped 0.2% in open-outcry official trading to $13,597 per metric ton after reaching $13,746, which was its highest level since May 15. Aluminium fell 0.3% to $3.663, after reaching its four-year peak of $3.707.50, on Tuesday. The Iran War has hampered deliveries in the Middle East. September alumina contracts in...

Aluminum prices reached their highest level in over four years on Tuesday as rising feedstock prices, alumina,?added?to persistent concerns?about a tightening?market amid a?reduced supply from Gulf producers. The London Metal Exchange's three-month aluminium rose by 1.4%, to $3,698.50 at 0937 GMT, after reaching $3,707.5. This is the highest level since March 24, 2020. On March 7, 2022 the metal reached a record high of $4.073.5, as markets grappled with the immediate aftermath of Russia's invasion in Ukraine. A 5% increase in September alumina contracts on the Shanghai Futures Exchange, which rose to their highest level since early May due to...

The disparity between China's low steel production and its robust imports of?iron ore is still evident, but it is now starting to appear as a structural shift instead of a temporary dislocation. China, which accounts for just over half the world's total steel production, produced 86.63 metric tons of steel in April. This is a 2.8% drop from the same period in 2025 and the lowest April figure since 2018. Steel production for the first four months of the year was 331.12 millions tons, down 4.1% from last year's same period. According to official statistics, however, iron ore exports increased...

Analysts expect that the worst mining disaster in China's history will have a negative impact on the coal supply during the summer, when demand is usually high. Gas explosions at Liushenyu Mine in Northern?Shanxi Province killed 82 people late Friday night. Officials called for better safety oversight. President?Xi _Jinping has ordered an investigation. How much coal mining has been halted due to safety checks? According to an analysis by Mysteel analysts, as of Monday, 319,000 tons of coal per day were halted in 109 mines across Shanxi for safety inspections. This is typical after a fatal accident. Mysteel stated that...

The dollar and oil prices fell on Monday, as a result of hopes for a possible peace agreement between the United States and Iran. This eased fears about inflation and an economic slowdown. By 0845 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 1.1%, to 105.650 yuan (15,548.76 dollars) per ton. We are hearing some good news about the conflict. Soni Kumari, an ANZ analyst, said that the positive market sentiment is a result of this. The Middle East conflict has caused supply disruptions, which have a negative impact on the demand for base metals....

The dollar and oil prices fell on Monday, as hopes of a possible peace deal between the United States and Iran grew. This eased fears about inflation and an economic slowdown. By 0552 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 0.9%, to 105.370 yuan (15,507.56) per ton. "We're getting positive news about the conflict." Soni Kumari, an ANZ analyst, said that this is good news for the industrial metals market. The Middle East conflict has caused supply disruptions, which is why metals demand remains strong, according to Kumari. Oil prices fell below $100 per...

Copper prices rose on Monday, as the dollar and oil fell in anticipation of a possible 'peace agreement' between Iran and the United States. This eased fears about inflation and an economic slowdown. The Shanghai Futures Exchange's most traded copper contract rose 1.1%, to 105 590 yuan (15,539.93 dollars) per ton. Oil prices fell below $100 per barrel as oil traders awaited the announcement of a U.S. Iran deal to reopen Strait of Hormuz. The Middle East conflict has caused energy prices to rise sharply, raising inflation fears and changing the outlook for global interest rates. Hopes of a peaceful...

Authorities said that a'strong earthquake' struck Chile’s mining region?Antofagasta?on Monday afternoon, disrupting operations at?some mines, but ultimately saving lives and critical infrastructure. Major miners have reported minimal damage from the magnitude 6.9 quake that struck the heart of the largest copper producing country in the world. The U.S. Geological Survey measured the depth of the earthquake at 109 kilometers (68 miles). A spokesperson for Chilean copper miner Codelco said that some activities were halted due to a?lack of visibility or disruption of electricity in certain?areas. BHP and Antofagasta, both mining companies, said that their operations were not affected by earthquake....

Norilsk Nickel's board recommended that there be no dividend payouts in 2025. It added on?Monday, it was prioritising the financial stability of its company during a time of "elevated economic instability". Nornickel, if approved, would withhold?its annual dividend for the fourth consecutive year. In 2022 the Russian metals manufacturer's finances deteriorated because of geopolitical forces. On June 30, shareholders in one of world's largest nickel producers and the largest palladium producer will discuss the proposal. Nornickel hasn't paid a full-year dividend since 2024, nor for 2022, 2023 or 2024, due to Western sanctions and the falling price of its main...

Mount Everest Expedition operators should focus on the experience of climbers and their 'knowledge' to reduce risks and minimise deaths, according to a British climber who is a guide and has made more ascents up the mountain than any other non-Sherpa. Five people died on Everest in this year. Some had problems at high elevations and needed to be rescued while descending. Kenton Cool, 52 who last week climbed Everest for the?20th time, said that climbing it wasn't as risky as people thought if you used the right techniques, guides and planning. Cool said that operators should be more careful...

Prices of Chinese 'coking coal' soared to their highest level in nearly two weeks on Monday, after a series of strict safety checks were conducted at coal mines as a result of a fatal mine accident that occurred near a key production hub. This led to expectations of a tightening of supply. The gas explosion that occurred at the Liushenyu Coal Mine in northern Shanxi province late Friday night has claimed the lives of 82 people. This is the deadliest mining accident to have happened in China since 2009. Local officials announced at a Sunday 'news conference' that the mine...