China

A European lobbying group, looking for cover against the U.S. - China trade war, said Monday that China's tightening of export controls is pushing European firms into exploring new supply chain capacities outside the world's largest economy. According to the European Union Chamber of Commerce in China, one in three of its member companies are looking to move their sourcing from China because of Beijing's export controls regime. Forty percent of respondents to its recent flash survey reported that the Commerce Ministry is processing export licenses slower than promised. The chamber's President Jens Eskelund said that China's export controls had...

The price of iron ore futures fell on Friday but recorded their third consecutive weekly gain due to recent infrastructure demand. The day-traded contract for January iron ore on China's Dalian Commodity Exchange closed 0.19% lower, at 794 Yuan ($112.18) per metric ton. The contract rose 1.14% in the past week. As of 0717 GMT, the benchmark December iron ore traded on Singapore Exchange was down 0.89% at $105.75 per ton. The contract has gained 1.73% in the first week. Galaxy Futures, a Chinese broker, says that infrastructure demand has been increasing recently. Prices are expected to follow fundamentals on...

The iron ore futures price was little changed on the Friday but is headed to a third weekly gain in a row on recent infrastructure demand. As of 0301 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange was trading 0.06% higher. It was 796 yuan (US$112.48) per metric ton. This week, the contract has risen by 1.14%. The benchmark December Iron Ore at the Singapore Exchange fell 0.56% to $106.1 per ton. Galaxy Futures, a Chinese broker, says that recent infrastructure demand is increasing, resulting in a continued improvement in apparent steel demand. Prices are...

The major Gulf stock markets rose early on Thursday as they followed gains in Asian stocks, and expectations of a Federal Reserve rate cut next week grew. Investors are focused on Federal Reserve officials' statements this week, as there is a lack of data about the U.S. economic situation following the end to the government shutdown. CME FedWatch Tool shows that traders are now attributing an 85% chance of a rate reduction next month, up from 30% just a week earlier. The U.S.'s monetary policy changes have an important impact on Gulf markets where the majority of currencies are pegged...

On Monday, the Russian rouble fell against the U.S. Dollar and the Chinese yuan as the corporate sales of foreign currencies, which had supported the rouble over the past few weeks, decreased. The rouble fell more than 0.4% against the dollar at 1050 GMT and was down 0.2% against the yuan at 1140 on the Moscow Stock Exchange. The traders believe that the currency sales of Russia's two major oil companies, Rosneft & Lukoil - both sanctioned in the U.S. - have supported the rouble. The traders did, however, note the recent irregularity of corporate forex sales. The U.S. has...

Sources and data show that despite Ukraine's largest drone attacks, Russia's oil production has only fallen by 3% in this year. Refineries have avoided a sharp decline in fuel output by using spare capacity to offset the damage caused by the strikes. Ukraine has intensified drone attacks in Russia. The aim is to destroy oil refineries and depots, and shut down pipelines, as well as Moscow's main source of funding the war in Ukraine. The majority of attacks took place at the beginning of 2025, then resumed in August. At least 17 major refineries were targeted by Ukrainian drones, which...

The Russian rouble gained against the U.S. Dollar and China's Yuan on Thursday, despite lower oil prices in Russia. Oil firms converted their earnings into roubles prior to U.S. sanctions taking effect. At 1020 GMT the rouble had gained more than 1% against the dollar, trading at 80.45, and was 0.5% higher at 11,31 against the Yuan at the Moscow Stock Exchange where it is traded the most. Washington introduced sanctions last month against Russia's two largest oil producers, Rosneft Lukoil as part of President Donald Trump's efforts for an end to Moscow's conflict in Ukraine. The deadline set for...

Saudi Aramco's decision to reduce the price of crude oil it sells to Asian refiners in December has been seen as an attempt to gain market share, amid fears of global oversupply. The reduction in Saudi crude oil was lower than the forecasts of Asian refiners. It seems to be a way for the world's largest crude exporter, Saudi Arabia, to remain competitive against other grades while giving it flexibility should China or India reject Russian barrels due U.S. sanctions. Aramco lowered last week its official selling price for its benchmark Arab Light for Asian customers by $1 per barrel...

The Russian rouble is stable against the U.S. Dollar and weaker than the Chinese yuan after the central banks reported an increase in exporters' foreign currency sales last month. Some analysts attribute this to U.S. sanctioned. The rouble traded at 81.20 dollars in the over-the-counter market and at 11.43 yuan at the Moscow Stock Exchange, which was down 0.5% at 0840 GMT. The central bank of Russia announced Monday that foreign currency sales for October were up 68% compared to a month ago, reaching $8.2 billion. The central bank attributed the increase to exporters repaying their foreign debt. In a...

PetroChina, a major oil company in China, announced on Monday that it will close its Yunnan Petrochemical Plant from November 15th, 2025 to January 15th, 2026 for maintenance. It said that the overhaul covered about 23,000 tasks, with a broad scope and considerable depth. During the maintenance period, operational and supply adjustments will take place. According to a July report by the company, this refinery in Southwestern China produces mainly China VI standard gasoline, diesel and jet fuel for Southwestern China as well as Southeast Asia. The report stated that since its launch in 2017, the company has processed 83,000,000...

Customs data released on Friday showed that China's imports of coal in October were down 10% from the previous year, due to a holiday which reduced the number working days during the month. Imports will be supported in 2025 by the winter restocking of products during the last two months. Imports in October fell from 46.25 to 41.74 millions metric tons, a drop of almost ten percent. Imports in September reached 46 million metric tonnes, a record high for nine months. Feng Dongbin is vice-general manager of Fenwei Digital Information Technology. He said that imports decreased sequentially, and also from...

India's Foreign Ministry announced on Thursday that Indian companies had received licenses to import rare earth magnets. This signals a relaxation of Beijing's export controls. China has become more powerful in its trade wars with the U.S. because of rare earths. Rare earths are a grouping of 17 elements which play an important role in planes, cars and weapons. Randhir Jaiswal, spokesperson for the Indian foreign ministry, announced the licensing decision at a press briefing. He did not give details about the companies who received approval or the number of licenses granted. China is the only country that has a...

The iron ore futures price fell for the second session in a row on Thursday as global supply increased. As of 0327 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange was trading 0.88% lower. It was priced at 792.5 Yuan ($112,10) per metric ton. The benchmark January Iron Ore at the Singapore Exchange dropped 0.19%, to $104 per ton. Analysts from ANZ said that the first commercial shipment of iron ore from the Simandou Mine in Guinea will be heading to China. This marks a change in global supply. India's imports of iron ore hit...

The price of iron ore futures fell slightly on Wednesday due to weaker demand signals. Traders were also awaiting the outcome of upcoming Chinese economic meetings for any guidance regarding growth targets that could be supportive. The January contract for iron ore on China's Dalian Commodity Exchange was down 0.19% at 799.5 Yuan ($113.19). As of 0724 GMT, the benchmark January iron ore traded on Singapore Exchange was up 0.24% at $104.15 per ton. Atilla Winnel, Singapore-based Navigate Commodities managing director, explained that a broader macro trade drives speculation in China-centric futures for industrial commodities. Investors await signals from the...

The price of iron ore rose on Wednesday, as the optimism about higher steel prices overshadowed concerns about a slowdown in hot metal production. As of 0322 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange was trading 0.06% higher. It was 801.5 yuan (113.44 dollars) per metric ton. The benchmark January Iron Ore at the Singapore Exchange rose by 0.1% to $104 per ton. In his latest monthly outlook, Wang Jianhua, chief analyst at consultancy Mysteel, predicted that Chinese steel prices would increase in December due to the improvement in macroeconomic conditions and the recovery...

The copper prices fell on Tuesday due to the stronger dollar and a lower risk appetite. Investors also locked in profits after a rally that reached a record-high in the previous session. The benchmark three-month copper price on the London Metal Exchange fell 0.4% by 1015 GMT to $11,202 per metric ton, after hitting a record high of $11,334 Monday. LME copper is up 27% this year so far, mostly due to fears about possible shortages. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. He said: "We are pausing today as we have seen the dollar...

Investors remained focused on the future risks of supply, after China's planned production cuts and Codelco's increase in premium. After reaching a record-high of 89.920 yuan per ton, the most traded copper contract at the Shanghai Futures Exchange ended daytime trading 0.10% higher, closing at 88.920 yuan (12,574.60). The benchmark three-month copper price on the London Metal Exchange fell 0.39%, to $11,208.50 per ton at 0719 GMT. Investors are assessing the impact of major Chinese Smelters' plans to reduce production by 10% in 2019. Analysts at Chinese broker Jinrui Futures stated in a report that the plan of smelters to...

A source confirmed on Tuesday that China had issued the first batch new export licenses for rare earths, which should speed up shipments to some customers. This is a major outcome of the meeting between Donald Trump and Xi Jinping. Exclusively reported by early November, China has begun designing a new streamlined licensing regime for rare earths centered around so-called "general licences". This follows the meeting in late October between Trump and Xi which eased tensions on trade between the two nations. Source: JL Mag Rare Earth, a Chinese magnet manufacturer, has licenses for almost all its clients. Ningbo Yunsheng,...

Iron ore prices rose Tuesday as steel consumption and infrastructure demand offset the weak China economic data. As of 0250 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange was trading 0.88% higher. It was 803.5 yuan (113.55 dollars) per metric ton. The benchmark January Iron Ore at the Singapore Exchange rose by 0.37% to $103.95 per ton. According to Chinese broker Galaxy Futures, recent infrastructure demand is up and steel demand is in line with normal seasonal patterns. This allows steel prices to maintain their upward trend on the short-term. According to CreditSights, the global...

The copper price fell from its record high as investors focused on the future risks of supply, after China's planned production cuts and Codelco’s premium increase. As of 0240 GMT the most traded copper contract at the Shanghai Futures Exchange had fallen 0.15% to 88,700 Yuan ($12,535.33) a metric ton after reaching a record-high of 89920 yuan per ton earlier in this session. The benchmark three-month copper price on the London Metal Exchange fell 0.77%, to $11,165 per ton. Investors are still assessing the impact of Chinese smelters’ plan to reduce production by 10% in 2019. Analysts at Chinese broker...

Fund managers are holding volatile tech stocks in China and picking industrial stocks, betting that a two-year old equities rally will withstand an economic downturn, as valuations, and steady returns, lure foreign investors. China's blue chip index CSI300 is up 16% on the year to date, matching S&P 500. Hong Kong's Hang Seng has risen about 30% and is set for its biggest annual gain since 2017. The mood has changed from the euphoria triggered by stimulus a year earlier, but the ride is getting bumpier. This is especially true as the pressure on China Vanke reminds the market participants...

The copper price soared on Monday to new record highs as traders cited the plans of smelters from China, the world's top producer to reduce output in 2019. A softer dollar also boosted positive sentiment. The benchmark copper price on the London Metal Exchange remained flat at 11,189 dollars per metric ton, down from its previous all-time high of $11,294.5 at 1118 GMT. Prices for metals used in construction and power industries have risen by 28% this year. According to a Chinese market data provider, China's leading copper smelters plan to reduce production by over 10% in 2026 in order...

Indonesia posted a smaller-than-expected trade surplus in October after exports unexpectedly fell, official data showed on Monday, amid curtailed demand from China and weak shipments of mining products. The surplus was $2.4 billion. This is lower than the forecast of $3.72 billion by economists polled and September's surplus of $4.34 billion. According to LSEG, it was the smallest surplus monthly since April. Exports fell 2.31% compared to a year ago, reaching $24.24 billion. Analysts predicted a growth of 3.38%. A Statistics Indonesia official explained to reporters that the decline was caused by lower shipments, particularly of copper and coal products....

India is considering the viability to import coking coal from Mongolia, despite the transport bottlenecks. New Delhi wants to diversify its supplies of this key ingredient in steelmaking. India, which is the second largest crude steel producer in the world, imports about 85% its coking coal, more than half of which comes from Australia. The source stated that the demand is expected to increase in the coming years. This will prompt the government and steelmakers alike to seek out new suppliers. Mongolia is a landlocked country with two export trade routes - one via Russia, and the other through China....