China

Yankuang Energy, a coal miner owned by China Minmetals, announced on Monday that a unit of the state-owned company plans to invest $300m to purchase Australian potash miner Highfield Resources. The aim is to expand into potash projects across Canada and Spain. Highfield Resources announced in September that it would raise $220 from Yankuang Energy, among other parties. This deal would make the Chinese coal mining company its majority shareholder. If the agreement is completed, Qinghai Salt Lake Industry, owned by Minmetals, Yankuang and Highfield's largest shareholder EMR Capital would gain control of Highfield. Qinghai will also purchase Yankuang's Yancoal...

Oil prices rose more than 3% Monday, while soybeans were trading at their highest level in three months. This was after the United States paused tariffs on trade for 90 days. Two of the world's largest economies have agreed to temporarily reduce their reciprocal tariffs while they negotiate to stop a damaging trade conflict that has caused financial markets to rumble and raised fears of a recession. The U.S. is reducing the extra tariffs on Chinese imports from 145% to 30% and Chinese duties on U.S. imported goods will drop to 10% from 125%. The new tariff rates are lower...

According to the prospectus it filed on Monday, Chinese battery manufacturer CATL aims at raising at least HK$31.01bn ($3.99bn) through its Hong Kong listing. This is the largest new share sales in the city for this year. According to documents filed with the Hong Kong Stock Exchange, the maker of batteries used in electric vehicles will sell 117.9 millions shares at a maximum price of HK$263 each. If the offer size adjustment and greenshoe options are used, then the size of this deal could reach $5.3 billion. The prospectus revealed that more than 20 cornerstone shareholders, including Sinopec, Kuwait Investment...

Two people who are familiar with the process said that LNG Canada had completed cooling down its Kitimat liquefied gas plant and was preparing to produce the first LNG at the plant in June. To ensure the production of super-cooled gas, cooling an LNG plant is essential. It's also a crucial step before starting operations. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). LNG Canada confirmed on Saturday that the Maran Gas Roxana left the plant after delivering a shipment to the plant on April...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. The budget proposal for fiscal 2026, which is set to be released on Friday, will propose a cut of over $160 billion from programs in the areas of renewable energy, education and foreign aid. Kohl's fired CEO Ashley Buchanan after learning that he had directed the retailer to make a "highly abnormal" business deal with a woman with whom he was romantically involved. A spokesperson for the Chinese Commerce Ministry said that China would consider trade talks...

Berkshire Hathaway's stock has done well during a turbulent year. This weekend, shareholders will seek reassurances from Warren Buffett to ensure that they are in good hands despite the tariff chaos disrupting corporate America. The 94-year old billionaire will celebrate 60 years of running the conglomerate he created, which now has a value of $1.15 trillion, at Saturday's annual gathering in Omaha, Nebraska. Buffett will spend four-and-a half hours answering shareholder questions. These typically center around Berkshire’s operating businesses, the markets, the economy and life lessons. Berkshire Hathaway Energy is one of the many businesses that Berkshire Hathaway operates. Other...

Industry sources have confirmed that Abu Dhabi National Oil Company will begin replacing some of its liquefied gas supplies to India from June with cheaper U.S. cargoes, as U.S. China tariffs are reshaping global trade flows. ADNOC will be able to ship more LPG from its own production to China. Buyers in China are paying higher prices to replace U.S. supplies after Beijing raised tariffs on U.S. products. This move also reduces LPG costs for India. 2 importer. India imports more than 80% its LPG from the Middle East including Saudi Arabia and the United Arab Emirates. It also sources...

In March, China's refineries produced the most oil in an entire year. However, the amount of crude added to inventories rose to its highest level in almost three years due to a surge in imports. According to calculations based upon official data, China's crude surplus reached 1.74 million barrels a day (bpd). This is the highest level since June 2023. In March, refiners had a large surplus of crude oil available after they had drained their stockpiles during the first two months of this year when imports of oil were low due to the high prices at the time of...

Vera Daves de Sousa, the Finance Minister, said that the drop in crude oil prices increases the likelihood of Angola needing an IMF loan. The government is also conducting stress tests to assess the impact on finances. After U.S. President Donald Trump's announcement of sweeping tariffs, on April 2, the second-largest crude oil exporter in Sub-Saharan Africa based its budget for 2025 on an oil price per barrel of $70, Brent oil futures briefly fell below $60. This was their lowest level in over four years. The contract closed at $66.91 per barrel on Friday. Daves de Sousa, in an...

In March, China's refineries produced the most oil in an entire year. However, the amount of crude added to inventories rose to its highest level in almost three years due to a surge in imports. According to calculations based upon official data, China's crude surplus reached 1.74 million barrels a day (bpd). This is the highest level since June 2023. In March, refiners had a large surplus of crude oil available after they had drained their stockpiles during the first two months of this year when imports of oil were low due to the high prices at the time of...

Mao Saigo, a Japanese player, won the Chevron Championship after beating four other players in a sudden-death playoff. The 23-year old won his first major after being tied with Ryu Haeran of South Korea after three rounds. However, a few late mistakes led to a score of two over par on Sunday. She sank a birdie on the par five 18th hole to keep herself in it. She joined China's Yin Ruoning and South Korean Kim Hyo Joo as well as Thailand's Ariya Jutanugarn, and Lindy Duncan from the United States, in the playoff. In a televised statement, she said:...

An Italian newspaper reported that Pirelli's board would likely approve an agreement between shareholders on Monday to ensure that Sinochem, the largest shareholder in the group, did not have control over the tyre manufacturer. Sinochem, a Chinese shareholder in Pirelli, has been a hindrance to Pirelli's U.S. growth plans. According to an agreement reported in the Il Messaggero, Sinochem will keep its 37% stake, but it will not be considered as controlling Pirelli for regulatory purposes. Il Messaggero reported that the agreement would declare Sinochem has no dominant influence on the company's governance as decisions are made by the management....

Iron ore futures reached a two-week high Tuesday, supported by an interim trade agreement between China and the U.S., but caution about a final deal, and a possible slowdown in near-term demand, limited gains. The day-traded price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 1.06% higher, closing at 714.5 Yuan ($99.34). The contract reached its highest level since April 24, at 727 Yuan, earlier in the session. As of 0700 GMT, the benchmark June iron ore traded on the Singapore Exchange had fallen 0.7%, to $99.3 per ton, after reaching its highest level...

After the United States and China suspended trade tariffs for 90-days, the markets felt some relief. Two of the world's largest economies have agreed to temporarily reduce their reciprocal tariffs while they negotiate to stop a damaging trade conflict that has caused financial markets to rumble and raised fears of recession. The U.S. is reducing the extra tariffs on Chinese imports from 145% to 30% and Chinese duties on U.S. imported goods will drop to 10% from 125%. The new tariffs are a return to the pre-Liberation Day level and represent a de-escalation better than expected, said ING commodities analyst...

In a video posted on Monday, Augusto Vasconcelos, Bahia's state labor secretary, said that the new factory of Chinese electric car manufacturer BYD in Brazil would be "fully operational" by December 2026. Its operations had been delayed due to an investigation into possible labor abuses. He added that the factory would start to produce cars by the end of the year from semi-finished kit. Vasconcelos said in a video posted on social media that a new schedule was being set up so that the factory would be fully operational by December 2026, with an expectation of 10,000 jobs. Vasconcelos revealed...

Gold, the safe-haven asset, fell by more than 2% Monday after a risky sentiment took hold following the announcement of the temporary tariff reduction agreement between the United States (US) and China. As of 0941 ET, spot gold was down by 2.5% to $3,239.54 per ounce. Bullion, a hedge for economic and geopolitical instability, reached a new record of $3,500.05 in the last month due to increased tariff uncertainty. U.S. Gold Futures fell 3% to $3244.20. BullionVault's director of research, Adrian Ash, said that gold's reaction to the chaotic headlines last month from the White House left the precious metal...

After Monday's truce in the trade war, it is likely that U.S. clients will have an easier time obtaining approval for rare earth export permits from Beijing. However, a complete lifting of restrictions in China, according to sources in the industry, is unlikely. As part of its response to U.S. Tariffs, China added seven rare Earths and related products to a Control List in April. Exporters will now need to obtain licenses in order to sell outside China. The decision was made for all countries. However, it appeared unlikely that U.S. clients would receive export licenses in the midst of...

China announced on Monday it would tighten controls on the entire supply chain of strategic mineral exports in an effort to maintain its dominance over materials that it considers vital to its national interests. China, which is the largest supplier of strategic minerals in the world, started imposing export restrictions on 2023. Minerals The sector is vital for sectors such as chipmaking, energy transition and defence. China's Commerce Ministry said that strengthening control over the entire export chain was the key to ensuring national security. A government meeting was held in Changsha, China, on Monday. The statement stated that representatives...

The price of base metals rose on Monday, as progress in U.S. China trade talks helped ease global recession concerns. However, details of any possible deals are still unclear. As of 0113 GMT, the benchmark copper price on London Metal Exchange (LME), rose by 0.6% to $9497.5 per metric ton. U.S. Treasury secretary Scott Bessent referred to "substantial progress in trade discussions", while Chinese officials stated that the two sides had reached an "important consensus" on their respective side and agreed to create a new economic dialogue forum. He Lifeng, vice premier of China, described the discussions as "in-depth, candid...

Twangiza Mining is a gold mining company operating in the rebel controlled South Kivu Province of eastern Democratic Republic of Congo. According to a letter sent to the entire company, the rebel administration has ordered the suspension of operations. In a letter dated 8 May, the company, managed by Hong Kong registered Shomka Resources informed its employees that they would be forced to stop work immediately. Twangiza Mining has been ordered to suspend operations by the South Kivu Province administration, according to a letter signed by Chao Xianfeng, the General Director. The letter also stated that all equipment and vehicles...

China's exports of steel in April exceeded 10 million metric tonnes for the second consecutive month, bringing the total over the first four-month period to a new record high. This was largely due to the fact that shipments were made ahead of the hefty tariffs announced by U.S. president Donald Trump. Customs data released on Friday showed that the world's biggest steel exporter and producer shipped 10,46 million tons last month. Exports were up 13.5% from the same period in 2024, despite being largely unchanged since March. Exports between January and April increased by 8.2% compared to the previous year,...

Data from the General Administration of Customs on Friday showed that China's imports of copper, including unwrought and finished products, were the same as last year at 438,000 metric tonnes, despite the fact that suppliers had rushed to ship to the United States in order to avoid impending tariffs. The data shows that copper imports for the first four-month period of 2025 were down 3.9%, at 1,74 million tonnes. Analysts expect China's strong demand for copper to drive up the amount of industrial metal imported. This month, however, the flow to the U.S. of copper in anticipation of U.S. tariffs...

Metal prices in London were in a narrow range on Friday, as traders remained cautious in advance of the U.S. - China trade talks at this weekend. As of 0346 GMT on Friday, the benchmark copper price on the London Metal Exchange fell by 0.3%, to $9,405 per metric ton, but was higher by 0.42% compared to $9,365.5 on Thursday. U.S. president Donald Trump and British prime minister Keir starmer announced on Thursday a limited trade agreement. The agreement leaves the 10% tariffs Trump imposed on British exports in place, but expands access to agriculture for both countries. It also...

China's rare earths exports fell by 15.6% in April compared to the previous month after the country announced restrictions on the shipment of certain critical minerals. The General Administration of Customs released data on Friday showing that China exported 4,785 metric tonnes of minerals in the 17-mineral group last month. This compares to 5,666 tonnes in March 2024 and 4,566 in the same period in 2024. Beijing announced that it would immediately restrict the export of seven categories medium and heavy rare Earths, including samarium and related items such as gadolinium and dysprosium. Last month, it was reported that the...