China

Asian stocks rose on Thursday on the back of optimism following Nvidia's rise to a record $4 trillion valuation. Investors also shrugged off President Donald Trump's recent tariffs. U.S. Copper Futures increased their premium over the London benchmark overnight, after Trump announced his plans to impose 50% tariffs on copper. Later, on Wednesday, he said that the tariffs would be in effect from August 1. Trump's trade anger also erupted against Brazil on Wednesday, as he issued notices of tariffs and threatened to impose a 50% penalty on Brazilian exports. The recent moves have not caused much of a stir...

The European stock market opened Wednesday slightly higher, with little reaction to the announcement by U.S. president Donald Trump that he will impose a tariff of 50% on imported copper as well as levies up to 200% on pharmaceuticals. Trump's remarks on Tuesday caused the price of Copper to reach record highs, and Wall Street to close down. The equity markets quickly shrugged the news off. Asian stocks were mixed over night and the MSCI World Equity Index rose 0.1% at 0835 GMT. The London FTSE 100 rose 0.1%, while the pan-European STOXX 600 increased by 0.4%. The U.S. Dollar...

The dollar and Wall Street rose on Thursday as the U.S. employment data was strong. In Europe, Britain's bonds recovered from renewed debt concerns. The announcement of a trade deal between the United States of America and Vietnam before the deadline for worldwide U.S. tariffs next week encouraged bulls over night. And the strong U.S. job numbers helped the dollar double the gains of the day and ensured that the S&P 500 opened at new all-time highs. The Labor Department reported on Thursday that nonfarm payrolls grew by 147,000 jobs after increasing 144,000 in May. The economists polled predicted that...

Industry sources reported this week that the provincial government of Shandong in China, China's refinery hub, increased the fuel oil import tax exemptions for six independent refining companies to improve their profitability, as they struggled with low margins due to fuel demand and high fuel prices. Three sources who have direct knowledge of this matter confirmed that the Shandong provincial office of taxation increased the consumption tax refunds for independent refiners (also known as teapots) on gasoline and diesel refined using imported fuel oil from 75% to 95%. Sources said that the change is applicable to Chambroad Petrochemicals and Hongrun...

Stella Qiu gives us a look at what the future holds for European and global markets. The session in Asia has been pretty quiet, and for good reason. Payroll data from the U.S. due later that day could be the deciding factor in a rate cut in July and cause big movements in Treasuries or foreign exchange markets. Investors in Asia didn't seem to share President Donald Trump's optimism about trade, which pushed Wall Street overnight to record-high closes. Details are still unclear. Markets did not react significantly to the latest developments regarding Trump's "big beautiful bill" for tax cuts....

According to shipping documents and data, Venezuela exported 844,000 barrels of crude oil and fuel per day in June. This is an 8% rise from the previous months, as more cargoes were sent to China to offset the loss of U.S. markets and European ones. Washington terminated in late May a grouping of licenses which had authorized partners, such as Chevron and Repsol of the oil company PDVSA to transport Venezuelan crude for U.S. or European refineries. Since then, the state-owned firm has increased its exports to Asia. It sells its crude oil and fuels through little-known middlemen who make...

Investors knew that after Donald Trump's radical election promises, markets would be bumpy in 2018, as he returns to lead the largest economy of the world. The dollar's dramatic drop was not predicted by anyone, but it has been a surprise to many. Many key markets will look calm if you simply run through the numbers of the year without tracking their journey. The VIX is barely moving, and world stocks are at records highs. Look closer, and you'll see that all these markets have experienced extreme swings in the last six-month period - including the dollar. The reserve currency...

Petrobras, the state-run oil company in Brazil, was the biggest winner of the auction on Thursday. The sale is expected to generate revenues in excess of $5.08 billion. The amount exceeds initial Government forecasts The 25 billion reais should boost the public coffers, as the Luiz Inacio Lula Da Silva administration tries to reach its fiscal targets. The state-run company PPSA held the auction, and is responsible for selling that portion of oil which companies producing under share contracts in pre-salt fields must give to the Brazilian government according to Brazilian law. Petrobras purchased three of the seven lots that...

The dollar fell to its lowest level in three years, while the world stock market reached its second record high within three days after a report that Donald Trump planned to select the next Federal Reserve Chief early fueled fresh bets about U.S. interest rate cuts. Dollar selling continued as U.S. trade picked up after Wall Street Journal reported that the U.S. President - who had been urging Fed to reduce rates faster – was toying with idea of choosing Chair Jerome Powell’s successor in the next few month before his formal departure in May. The greenback was down by...

Asia's crude oil imports rose in the first six months of 2025, as an increase in arrivals in June overcame the slow start of the year. According to LSEG Oil Research, the world's largest import region has seen arrivals of 27,36 million barrels a day (bpd), up by 620,000 bpd compared to the 26,74 million bpd of the same period in last year. The performance improvement was primarily due to the fact that June imports soared from 27.3 million bpd and 26.42 millions bpd last June, respectively. This is the highest LSEG data recorded since January 2023. China was the...

On Thursday, the dollar fell to its lowest level in three years while global stocks reached their second record high within three days as new bets were placed on rate cuts by the U.S. The Wall Street Journal reported that the U.S. President, who has been pressing the Fed to lower rates more quickly, was considering the possibility of replacing Chair Jerome Powell in the coming months before his departure in May of next year. The greenback is down by more than 10% this year. If the greenback continues to fall in the next few days, it will be the...

Asia's crude oil imports rose in the first six months of 2025, as an increase in arrivals in June overcame the slow start of the year. According to LSEG Oil Research, the world's largest import region has seen arrivals of 27,36 million barrels a day (bpd), up by 620,000 bpd compared to the 26,74 million bpd of the same period in last year. The performance improvement was mainly due to the fact that June imports soared up to 28,65 million bpd. This is the highest LSEG data recorded since January 2023, and a significant increase from 27.3 millions bpd and...

The price of U.S. Copper rose on Thursday, after U.S. president Donald Trump announced a 50% tariff that would begin on August 1. However, the prices remained below their previous record high due to an oversupply of metal in the country as well as uncertainty about details. Trump announced on Tuesday that new tariffs would be imposed on copper. He announced Wednesday the date and confirmed it. The COMEX copper contract that was most active at 0945 GMT rose 2.1% to $5.60 per lb, down from the record high of $5.90 reached on Tuesday. Ole Hansen is the head of...

The Shanghai Futures Exchange saw copper prices fall more than in London, as analysts say that China is likely to bear the brunt from the United States' decision imposing a 50% tariff on imported copper. By 0708 GMT, the most traded copper contract on the SHFE had fallen for the fifth consecutive day, down 0.39% to 78,600 Yuan ($10,952.87 per metric tonne). On Thursday, it touched 78.190 yuan ($10,952.87), the lowest level since June 23. On the other hand, copper for three months on the LME recovered on Thursday, after five consecutive days of losses. It was up 0.36% to...

Iron ore futures rose for the third consecutive session on Thursday. They reached multi-month highs as optimism grew over a new reform wave to curb steel production and additional stimulus measures by China, the world's largest consumer. The daytime trading price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 3.67% higher, closing at 763.5 Yuan ($106.39), a three-month record. As of 0724 GMT, the benchmark August iron ore traded on the Singapore Exchange rose 3.41% to $99,35 per ton. This is the highest price since May 22. The main reason for the rise in...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. The price movement of stocks in recent days has shown that investors have become less interested in Donald Trump's tariffs. Asia shares rose on Thursday, riding the wave of Nvidia's quick rise to $4 trillion in valuation. Futures indicated similar gains for Europe in the afternoon. On Wednesday, the U.S. president launched his tariff attack into overdrive. He announced a new tariff of 50% on U.S. imports of copper and a duty 50% on Brazilian goods. Both duties will begin on August 1....

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw copper prices drop on Thursday. They were near their lowest level in three weeks, due to President Donald Trump’s plan to impose a 50% tariff on imported copper starting August 1. Trump announced a 50% tariff for copper on Wednesday, stating on social media the tariff would take effect on August 1, and that it was a decision made following a national assessment. The LME's three-month copper rose 0.19%, to $9,649 a metric ton, by 0111 GMT. Meanwhile, the SHFE's most traded copper contract fell 0.75%, to 78.320 yuan....

On Wednesday, President Donald Trump met with leaders of five African countries as the U.S. president intensified a trade conflict that threatens developing countries that depend on the trade with the largest economy in the world. A White House official confirmed that Trump will host leaders from Gabon and Guinea-Bissau as well as Liberia and Mauritania for a lunch and discussion at the White House. The discussions are expected to be focused on business opportunities. Africa experts await Trump's announcement of dates for a larger summit with African leaders. This could be in September, around the time for the United...

Volkswagen reported a 1.2% increase in global sales volume in the second quarter, despite a decline in U.S. Demand and the ongoing uncertainty surrounding tariffs. This was due to the strong demand for its all-electric offerings in Europe. According to the company, sales of the German auto giant increased by 1.2% year-on-year in the second quarter with 2,27 million vehicles sold. Sales grew in all markets, except North America and Western Europe where deliveries dropped by 16.2% and 0,7% respectively. German automakers are pressing President Donald Trump for an agreement to replace the 25% tax on imports of cars and...

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw a decline in copper prices on Wednesday, as the potential U.S. tariff on copper signaled the end of a long-running arbitrage trade which had pulled the metal off global markets. The COMEX Copper Futures rose more than 12% on Tuesday to a new record high. The U.S. Secretary of Commerce, Howard Lutnick, said that tariffs would be likely in place before the end July or August. The LME's three-month contract for copper fell by 1.35% at $9,658 a metric ton as of 0700 GMT. On the SHFE, the most...

U.S. president Donald Trump announced on Tuesday that he would announce 50% tariffs on copper imports. This sent U.S. Comex Copper Futures to a record-high of more than 12%. The announcement marked the end of a long-running arbitrage that had drew metal from the global markets. Prices fell on the Shanghai Futures Exchange and London Metal Exchange. Here is the reaction of analysts and smelters from Asia. GOLDMAN SACHES HAS ANALYSTS As with previous tariffs this higher initial rate of tariff could be used to negotiate, then concessions or exemptions can follow. We expect an increase in shipments to the...

Iron ore prices rose for the second session in a row on Wednesday. This was aided largely by a drop in shipments, and a resilient demand. However, mixed factory data from China, whose top consumer, curbed gains. As of 0250 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was trading 0.68% higher. It was worth 736.5 Yuan ($102.57). As of 0240 GMT, the benchmark August iron ore traded on Singapore Exchange was up by 0.34% to $96.1 per ton. Everbright Futures analysts said that iron ore shipments have dropped after the ramp-up at the end...

The London Metal Exchange (LME) and Shanghai Futures Exchange (SFE) saw a drop in copper prices on Wednesday. Traders may have not had enough time to send much to the United States after Trump's announcement on Tuesday of a 50% tariff on imported copper. The LME's three-month copper fell by 0.57%, to $9,735 a metric ton, at 0109 GMT. On the SHFE, the most traded copper contract dropped by 0.49%, to 79.090 yuan per ton. U.S. President Donald Trump announced he would announce a 50% duty on copper on February 2, hoping to boost U.S. manufacturing of a critical metal...

On Tuesday, U.S. president Donald Trump said that he would be announcing a new initiative. Imports of copper are subject to a 50% tariff Later in the day, a global industry, whose output is crucial for electric vehicles, military equipment, semiconductors, and a variety of consumer goods, was surprised. Trump had a February election. Ordered a Probe As part of efforts by the United States to rebuild its production of copper, there is a deadline of November for possible tariffs. The investigation, which was meant to evaluate the imports of copper concentrates, copper scrap, and copper alloys, was still ongoing....