China

Sinopec, China's largest jet fuel distributor said that it has completed a restructuring of China National Aviation Fuel. Sinopec, China’s largest?refiner by capacity, stated that the restructuring of CNAF will strengthen China's aviation oil supply security as well as support the sector's low-carbon and green transition. The company stated that jet fuel will be a major growth driver for China's refined oil demand. The deal will create a 'integrated aviation fuel business, at a time where China's aviation oil consumption is on the rise, but its gasoline and diesel demands are declining, due to a slowing economy and a growing...

China said on Friday that it would increase cooperation with Namibia, particularly in the energy, agriculture, infrastructure and minerals sectors. This was during talks between Chinese President Xi Jinping and Namibian president Netumbo Nandi Ndaitwah, which took place?in Beijing. Nandi-Ndaitwah is on a 7-day trip to China, since Sunday. He's seeking investment from China, the second-largest country in the world and the top lender. The goal of the trip is to implement the election promises to create jobs and diversify Namibia's economy. "In Namibia we affirm an unwavering commitment (to) this longstanding friendship" between Namibia and China, said Nandi Ndaitwah....

The International Monetary Fund lowered its forecast for global growth in 2026 to a slow 3.0% on Wednesday, warning about the ongoing risks associated with the Middle East war, trade fragmentation, and possible corrections to market expectations in AI. The 'global lender' said that the world economy avoided a sharper decline, as demand for AI and technology helped to offset the sharp fall in energy supplies due to the war. The growth rate should return to 3,4% by 2027. However, this is still lower than the 3.5% average seen between 2024 and 2025. The IMF forecasted 3.1% growth in April....

The International Monetary Fund lowered its global growth forecast for 2026 again on Wednesday, to 3.0%. It warned of the ongoing risks caused by the Middle East war, trade fragmentation, and possible corrections in the market expectations regarding AI. Global lender said the war had prevented a more severe downturn in the global economy, and that the demand-driven growth in the tech industry helped?to _offset the drop in energy supply caused by the war. Growth is expected to rebound in 2027 at 3.4%, which is below the 3.5% average seen in 2024-2025. The IMF increased its headline inflation forecast for...

Saudi Aramco has cut its crude oil price for Asia, for August-loading shipments. This move appeared to signal an intention to regain market shares and recover volumes following the Iran War. Even the record-breaking 'August official selling price' (OSP), may not be sufficient, since crude oil from other Middle East producers and exporters from Africa and the Americas are likely to remain more competitive. Aramco, 'the world's largest oil exporter', has set its OSP at a $1.50 discount to the regional benchmark of Oman/Dubai for August. It was the largest drop in record since 2003, with a $11 reduction from...

Wang Di, China's embassy to Canada, said that the Lotus electric cars from Geely Holding Group will be arriving in Canada by next month as a result of an agreement signed between Chinese President Xi Jinping and Prime Minister Xi Carney. The vehicles will be the 'first' Chinese-owned, manufactured and sold vehicles under an agreement that allows for up to 49,000 Chinese electric cars to enter Canada at a reduced rate of tariffs each year. Carney is trying to diversify Canada’s trade away form the United States. Wang stated that "Geely EVs are coming to Canada next month, and there...

Wang Di, China's ambassador in Canada, said that Geely Holding Group Lotus electric vehicles would arrive in Canada within the next month as a result of an agreement reached between Prime Minister Mark Carney and Chinese president Xi Jinping. The vehicles will be the first Chinese owned and manufactured cars to be sold under an agreement that allows for up to 49,000 Chinese electric vehicles to enter Canada at a reduced rate every year, as Carney attempts to diversify Canada’s trade away the United States. Wang stated that "Geely EVs are coming to Canada next month, and there will be...

Wang Di, China's Ambassador to Canada, told? Wang Di, China's ambassador to Canada, told? The first Chinese-owned,?manufactured? vehicles will be sold under an agreement that allows for up to 49,000 Chinese electric vehicles to enter Canada at a reduced rate every year. Carney is trying to diversify Canada’s trade away the United States. Wang stated that "Geely EVs are coming to Canada next month, and there will be a ceremony in Montreal when the cars arrive." Lotus Cars didn't immediately respond to an inquiry for comment. The Global Affairs Department of Canada could not comment immediately on the expected arrival...

The global equity markets fell on Friday as investors continued to take profits from?highly-flying tech and chip stocks. Meanwhile, crude oil prices plummeted as more tankers left Strait of Hormuz. Wall Street saw all three indexes trading lower, with choppy trading, as losses in energy, industrials and technology offset gains in healthcare stocks and real estate. The Dow Jones was on course for a gain, while the S&P 500 and Nasdaq are headed for weekly losses. The chip stocks fell 5% for a loss of 7.7% per week, the biggest weekly drop since March. The Dow Jones Industrial Average dropped...

Trade sources reported on Friday that 'QatarEnergy' has released a tender to sell crude oil for loading in July and August. This is believed to be its first tender since the onset of 'the Iran -war. Producer offers Marine Land, Marine Qatar, and al-Shaheen crude. According to a tender document seen by, buyers can load or transfer via ship-to -ship transfer between Fujairah & Sohar. The bid will close on 29 June. The offer is a further boost to the rising supply of Middle Eastern producers. Iraq's SOMO, the state-owned oil marketer in Iraq, issued a tender?Thursday for Basra Heavy...

The prices of China's coal futures continued to decline on Monday. This was due to the prospect of a rising supply following the resumption of production in coal-rich Shanxi, as well as from increasing imports. The Dalian Commodity Exchange's (DCE) most traded coking coal contract closed the daytime trading 1.39% lower, at $188.20 per metric ton. This is approximately 14% lower than the 1,486.5 Yuan that was reached on June 8th, the highest level since Oct 2024. The most active DCE contract dropped 0.49%, to 2,015.5?yuan per ton. According to a survey conducted by the consultancy Mysteel, as of June...

Reliance Jio Platforms, owned by Indian billionaire MukeshAmbani, filed?regulatory documents for an IPO that would raise $3.8 billion. This is the largest-ever stock offer in India. The National Stock Exchange of India is preparing to launch another IPO, which will likely be worth $3.3 billion. The five biggest Indian IPOs so far: HYUNDAI MOTOR INDIANA In October 2024, Hyundai, India's largest passenger vehicle manufacturer and the third-largest carmaker in the world, raised $2.95 billion in India's largest-ever IPO. The South Korean parent company of the manufacturer sold a 17.5% share in a "pure offer for sale", where existing shareholders sold...

The price of copper in London fell slightly on Tuesday, amid the latest escalation of the Middle East conflict. However, this was offset by concerns over a possible supply chain crisis. Benchmark 'three-month' copper prices on the London Metal Exchange dropped 0.18% to $13,516 per metric tonne by 0300 GMT. After an increase in LME copper prices overnight, the most-traded contract for copper on the Shanghai Futures Exchange increased by 0.64%. It now stands at 103950 yuan a ton. Donald Trump, the U.S. president, and Iran announced that they would both blockade the Strait of Hormuz. The U.S. has renewed...

Northern Minerals announced?on?Tuesday that Australian Treasurer, Jim?Chalmers, has ordered three 'offshore 'investment firms - including Hong Kong Ying Tak - to refrain from exercising voting rights within the rare earths developer. Foreign Investment Review Board of Australia (FIRB) has said that Hong Kong Ying Tak and?British Virgin Islands registered Real International Resources as well as Hong Kong registered?Qogir Trading & Service have failed to comply to earlier government 'orders to reduce stakes in Northern Minerals. In May, Treasurer Chalmers?ordered offshore shareholders to divest by July?2 their?holdings over concerns that Chinese-linked groups were seeking control of rare-earths mining company. Ying Tak's...

The dollar was weaker on Monday, but gains were limited as tensions between the U.S.A. and Iran escalated and oil prices increased, further causing inflationary fears. The benchmark copper price on the London Metal Exchange was 0.1% higher, at $13,501 per metric ton of official rings. The lower dollar makes metals priced in dollars cheaper for holders of currencies other than the U.S. dollar, which could increase demand. After renewed military strikes by the United States and Iran, concerns about energy shipments via the Strait of Hormuz were reignited. The focus was also on falling copper inventories. The copper stocks...

Prices of copper fell on Monday, as the fighting between the U.S. Benchmark three-month Copper?on the?London Metal Exchange fell 0.64% to $13,398.5 per metric ton at 0701 GMT. The Shanghai Futures Exchange's most traded copper contract fell 0.68%, to 103100 yuan (15,199.54 USD) per ton. U.S. forces and Iranian forces traded heavy drone and missile assaults at the weekend. This dampened risk appetite, and reignited fears that rising energy prices and inflation could lead policymakers to raise interest rates for longer. The pressure on industrial metals is increased by higher interest rates. Gold and silver that do not yield any...

These are the most popular?stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Regis Resources has said that it will not match Genesis Minerals' bid of US$3.9 billion for Vault Minerals, because a planned merger between the two gold-mining firms would no longer meet their thresholds in terms of value and return. Shein, the fast-fashion retailer, has cleared a major hurdle in its long-awaited Hong Kong initial public offer. The listing could be valued at over $40 billion according to people who are familiar with this matter. According to sources familiar...

The price of copper fell on Monday as the fighting between the U.S., Iran and other countries intensified.?Tehran announced that it had once again closed the Strait of Hormuz, a vital energy corridor. Benchmark three-month Copper on the?London Metal Exchange fell 0.72% to $13,387 per metric tonne by 0300 GMT. Shanghai Futures Exchange's most traded copper contract lost 0.75% to 103,030 Yuan per metric ton. The U.S. forces and Iranian forces traded heavy drone and missile assaults at the weekend. This 'diminished risk appetite' and reignited fears that higher inflation and energy prices could prompt policymakers to raise interest rates...

Copper prices were flat on Friday as fears faded of an economic hit and a drop in metal demand due to a spate of tit for tat attacks between the U.S.?and Iran. The benchmark three-month copper price on the London Metal Exchange was?largely steady, with a drop of only 0.01% at $13,487.5 per metric ton as of 0700 GMT. The red metal prices are now close to the levels they were at the beginning of the week. This is the culmination of a few volatile days, during which fears about a new round in the conflict between the U.S. Prices...

The Iran War has caused a supply shock that is reviving the old Western aluminum smelters. Magnitude 7 Metals in the U.S. is reactivating its New Madrid smelter located in Missouri. Over the Atlantic, Norwegian producer Hydro announced the partial restart of the Slovalco joint-venture smelter. The two plants were idled due to low aluminum prices and a spike in energy prices that followed the Russian invasion of Ukraine. Washington and Brussels are both desperate to reduce their reliance on an import of a metal used in a wide range of industries. The return of these zombies smelters will not...

The dollar, which had recently surged, was stabled and copper rebounded on Thursday as the market looked beyond the escalation of Gulf hostilities. Benchmark three-month copper on the London Metal Exchange was up 1.62% to $13,379 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract rose 0.16%, to 103.160 yuan (15,182.65) per ton. This was a slight improvement from the earlier drop of 1.32%. Although the copper market is still watching Middle East conflict developments closely, investors have "tended to price in an expectation that any escalated tensions will be brief and a solution?will be...

Iron ore prices were range bound on Thursday as investors weighed the potential supply risks arising from a strike threat by some BHP iron ore employees against a seasonally weakened demand in China, the world's largest consumer. As of 0304 GMT, the most-traded contract for?iron?ore on China's Dalian Commodity Exchange increased 0.27% from 745.5 Yuan ($109.66), a metric tonne. As of 0254 GMT, the benchmark August iron ore contract on Singapore Exchange fell 0.18% to $98.85 per ton. BHP's Port Hedland Iron?ore operation in Western Australia may see hundreds of workers walk off their jobs next week. This would be...

India's import restrictions have caused shortages on the world's largest market for precious metals, driving premiums up to their highest levels in six months despite a weaker than usual demand. India's lower imports, which meet more than 80% its silver demand by purchasing it overseas, could have a negative impact on the global price of silver, as well as help narrow its trade deficit and reduce pressure on its currency, the rupee. Chirag Thakkar, the chief executive officer of Amrapali Group Gujarat - a major silver importer - said that "Silver Imports are almost at a standstill, creating a severe...

Aluminum gained on Wednesday as a result of'renewed tensions in the Middle East' after 'fresh U.S. attacks on Iranian targets threatened derailment of a fragile ceasefire. As of 0700 GMT, the benchmark three-month aluminum?on London Metal Exchange was?up by 0.33% to $3,148 per metric ton. The Shanghai Futures Exchange's most traded aluminium contract rose by 0.68%, to 23,075 Yuan ($3,394.38) per ton. The rise in prices comes after the latest U.S. airstrikes on Iranian targets, and projectiles have 'hit ships in the Strait of Hormuz. This could undermine efforts to restore a?normal supply? in the region. Around 9% of the...