China

Sinopec, a Chinese company, said that its refinery and petrochemical utilization rates fell in the first quarter due to the U.S./Israeli war on Iran which disrupted the feedstock supply. However its chemical exports will grow strongly this year. Sinopec is the world's largest refiner by capacity. The company announced that it had cut refinery utilisation by 7.6 percentages points annually between January and the end of March, to an average of around 83%. A company executive said that the ethylene usage rate was 89% for the first quarter of this year, which is 1.5 percentage points less than it was...

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...

The shares of 'Hengli petrochemical' fell by as much as 10 percent on Monday after the U.S. last week imposed sanctions against the firm. It is one of China’s largest independent refiners. They were sanctioned for allegedly purchasing Iranian oil. Treasury Department announced on Friday that the refiner was one of Iran's biggest customers for crude oil and petroleum-based products. In a?Sunday statement, the company denied any business with Iran. The Trump administration already imposed sanctions on a number of?other independent refining companies, including Hebei Xinhai Chemical Group and Shandong Shouguang Luqing Petrochemical. Some independent refiners have been deterred from...

Trump Administration announced on Friday that it had imposed sanctions on an independent "teapot refinery" in China for?buying billions worth of Iranian crude oil while Washington and Tehran are struggling to restart peace negotiations. Treasury Department targeted Hengli Petrochemical Refinery Co., which they said was one of Iran's biggest customers for crude oil and petroleum. The Office of Foreign Assets Control of the Treasury Department said that it had also imposed sanctions against about 40 shipping firms and vessels operating as part of Iran’s shadow fleet. Last year, the Trump administration imposed sanctions against teapots Hebei Xinhai Chemical Group and...

Next week, investors will be focusing on three major issues: the war in Iran and the interest rate path. Five of the "Magnificent Seven" U.S. technology giants are reporting their earnings. Four of the top central banks in the world meet to discuss how long they will be able to'realistically' look past the rise in energy prices caused by the blockage of the Strait of Hormuz. Marc Jones, Dhara Ranasinghe and Lewis Krauskopf in New York will give you all the information about this week's financial markets. Rae Wee is in Singapore. 1/CORRIDOR POWER The next week will be dominated...

Three people familiar with the matter said that Exxon Mobil, a U.S. energy giant, is "considering" selling its 'gas stations' in Hong Kong. The deal is expected to be worth a few hundred millions dollars. The company has hired a financial advisor and had discussions with a few bidders. Exxon didn't immediately respond to our request for comment. Bloomberg reported the first on the sale of the assets. According to people familiar with this matter, Exxon could seek a value between $500 million and $600 million. Oil and gas producer Esso offers a wide range of products?and services in Hong...

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...

The World Bank announced a new strategy on Friday that focuses on jobs to help small island states, and other small countries address challenges like remoteness, shock exposure and a limited economic base. World Bank President Ajay Banga spoke about the initiative in a closed door meeting of 50 ministers and governors of central banks from small countries, held during the spring meetings for the International Monetary Fund (IMF) and World Bank. He explained that the idea was to use different tools to help smaller states attract more investment, implement policy and regulatory changes to make it easier to run...

The finance?chiefs of Group of Seven nations agreed on Thursday that it was urgent to reduce the cost of the Middle East 'war' to the global economy and "reaffirmed the pressing need to move towards a lasting peace," said a?statement?from France, which is holding the G7 Presidency this year. The war was one of three major topics that the finance ministers and governors of central banks of the richest democracies in the world discussed on the fringes of the spring meeting of the International Monetary Fund (IMF) and World Bank (WB), which took place in Washington. The two also discussed...

The European Union must have a European energy union before it can implement other reforms to remain competitive with the United States. Kyriakos pierrakakis, chairman of the eurozone's finance ministers group, said on Thursday that the European Union must create an energy union in order to remain competitive against the United States. Pierrakakis, speaking at the International Monetary Fund (IMF) in Washington said that the EU needed to create a true energy union to allow energy to easily flow across borders and lower electricity prices on the 450 million-person single market. European energy prices are between two and three times...

French Finance Minister Roland Lescure announced on Thursday that the Group of Seven finance and central bank chiefs had agreed to be ready to "act" to reduce economic and inflation risk caused by Middle 'East war energy price and supply fluctuations. Lescure told reporters at the International Monetary Fund's and World Bank's spring meetings that the outcome of the global economy depends on the speed with which the conflict is resolved. The International Energy Agency, with the support of the G7, released last month a record-breaking amount of oil from its strategic reserves in order to counter the cuts of...

The United States on Wednesday warned that it would sanction any buyers of Iranian Oil and stated its belief that China will stop such purchases if Washington enforces the maritime blockade against Iran. Scott Bessent, U.S. Treasury Secretary, told reporters at White House that "we have informed countries that we will apply secondary sanctions if they are buying Iranian oil or if Iranian money sits in their banks." As the Iran War entered its seventh week, the U.S. began a maritime blockade against Iran on Monday. China had previously purchased more than 80% Iran's oil. Bessent stated, "We are confident...

Iron ore prices rose on Wednesday, as the central bank of China announced a plan to expand its loan program. However, declining crude steel use and increasing ores supply were weighing on prices. As of 0239 GMT, the?most-traded contract for September iron ore on China's Dalian Commodity Exchange was 0.45% higher. It stood at 784 Yuan ($114.66), per metric ton. The benchmark June Iron Ore at the Singapore Exchange rose 0.3% to $106.1 per ton. Sources said that the?People's Bank of China asked banks to increase loan issuance in April and to ensure?the outstanding balances of loans show positive growth...

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...

Official data released on Tuesday showed that Guinea's bauxite production grew by 25% in the first quarter of 2026. This was largely due to Chinese demand. The government is planning export restrictions to protect smaller producers and boost prices. Guinea is the largest exporter in the world of bauxite - a major feedstock for aluminum - and has experienced a strong growth rate. In 2025, Guinea's bauxite output reached 183 million tons. Mines Minister Bouna Sylla told ? In March, Mines Minister Bouna Sylla told? Guinea exports more than 70% of its bauxite to China. This makes the West African...

European Trade Commissioner Maros Sefcovic stated that he and U.S. Secretary of Commerce Howard Lutnick had 'agreed' to accelerate discussions about steel derivatives on a technical level. Talks have already begun. Sefcovic told reporters that, in his opinion, both sides are moving forward on the steel issue. He said that both the United States as well as the EU were facing the same problem of massive overcapacity on the global market, without mentioning China. Sefcovic told a press conference that "we are not each other's problem" after signing an agreement on critical minerals with U.S. secretary of state Marco Rubio....

As part of an 'overall Western push to loosen China’s grip on materials vital to advanced manufacturing, the U.S. & European Union deepened their cooperation?on critical mineral?on Friday. U.S. Secretary Marco Rubio signed a Memorandum of Understanding with European Union Trade Commissioner Maros Sefcovic for a partnership to produce and secure critical minerals. Rubio didn't mention China, but said that the preliminary agreement reached with Brussels showed that Western allies are becoming more aware of the importance of supply chain and minerals to their economic success. China has used geo-economic pressure to 'chokehold' the processing of minerals. It has sometimes...

Copper prices fell on Friday due to concerns about the continuing 'closure of Strait of Hormuz and the lack of progress made in the 'peace talks between?U.S. Iran. In official open-outcry trade, the benchmark three-month copper price?on the London Metal Exchange?slid 0.5% to $13,290 per metric ton. Israel and Lebanon extended the ceasefire by three weeks. But President Donald Trump stated that he wasn't in a hurry to reach an agreement with Iran. Ole Hansen, head commodity strategy at Saxo Bank, Copenhagen, said: "While the threat of an escalation via military conflict is reduced for the moment, the severity and...

The copper price fell from a?multi-week peak on Thursday due to the stalled U.S. Iran peace talks, the continued closure?of Strait of Hormuz as well as a stronger dollar. Benchmark three-month Copper on the London Metal Exchange fell 1.4% to $13,247 per metric ton during 'official open-outcry' trading after reaching its highest since February 27, at $13,481.50. No signs of a return to peace talks between Iran and the U.S. have emerged, while Iran has tightened the grip it holds on the Strait of Hormuz. This has sent oil prices over $100 per barrel. Standard Chartered's head of base-metals research,...

The mines ministry announced on Thursday that Zambia's Luanshya Copper Mine will resume production in August, after more than a decade of idleness. CNMC purchased Luanshya and now holds 80% of the company. Zambia's mining arm ZCCM IH owns 20 percent of the mine. Production had to be halted after severe flooding destroyed infrastructure. According to the Mines Ministry, as of 'March 27, approximately 87.9 millions cubic metres of water have been pumped out of the mine. This has allowed for the development of infrastructure and construction. The ministry announced in a statement that "Luanshya Mine... will resume production at...

BHP Group has agreed to use a Chinese iron ore price index for one of its flagship products as part a deal with?China that ends a long-running dispute. Three sources familiar with the matter confirmed this. BHP, world's third largest iron ore supplier announced on Wednesday it had completed negotiations on a contract with China Mineral Resources Group. This ended the dispute resulting from the bans on BHP supplying the essential ingredient for steel production. The agreement was not disclosed by BHP or CMRG, the Chinese state iron ore purchaser. According to an investor, BHP executives informed them that the...

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...

The price of copper rose on Wednesday, as President Donald Trump extended a ceasefire agreement with Iran. However, lingering uncertainty over the Middle East conflict limited gains. In official open-outcry trade, the benchmark?three-month?copper price on London Metal Exchange rose 0.3% to $13,270 per metric tonne. This month, the renewed premium in Comex copper over the LME benchmark has been a key feature of the copper markets for 2025. It encourages shipments to the United States. More copper is expected to flow into the United States. While the premium price persists until the end of July, a decision will be expected...

Prices of iron ores rose on Wednesday as steelmakers in China rushed to replenish their stocks before the holiday season. This was despite concerns about a possible increase in'supply' following a resolution of a contract dispute that lasted for months between BHP Group, and China. BHP, world's third largest iron ore supplier said that it had completed iron ore contract negotiations with China Mineral Resources Group, the state buyer of iron ore. Last week, it was reported that CMRG lifted a ban on BHP's procurement of the key ingredient for steelmaking after its top?executives had visited China. Iron ore, the...