China

Donald Trump, U.S. president on Monday Any country that trades with Iran faces a 25% tariff. This is because Tehran is battling its largest anti-government protests in many years. According to the latest data from the World Bank, Iran, a member country of OPEC, exports products to 147 partners. China, Iraq, United Arab Emirates (UAE), Turkey, Germany, and other countries in East Asia are among its top trading partners. Fuel is Iran's largest export item in terms of value, whereas major imports include intermediate products, vegetables, machinery, and equipment. China is Iran's biggest trading partner. According to the World Bank,...

After meeting with Indian Prime Minister Narendra Modi, German Chancellor Friedrich Merz suggested that the European Union could sign a Free Trade Agreement with India as soon as this month. Merz, during a trip to Ahmedabad in western India, said that the presidents of the European Commission and European Council will travel to India to sign the agreement at the end 'January' if the deal is completed by then. Merz, who was visiting India for the first time since his appointment as chancellor, said that they would "in any case" take a major step to ensure this free-trade agreement is...

Reliance Industries, an Indian conglomerate, said Monday that it has not changed its plans for battery storage manufacturing. This follows a report by Bloomberg News that the company had "paused" plans to manufacture lithium-ion batteries in India because they were unable to obtain Chinese technology. In an email, a spokesperson for the company stated that "Reliance Industries categorically and strongly affirms that our plans to create a world-leading battery storage manufacturing ecosystem from Cell (cellular energy storage system) to containerised ESS are not changing and they're progressing in line with their target timelines." Bloomberg News reported that the Mukesh Ambani...

The?Italian?government and Pirelli, the?tiremaker, are looking at new ways to stop Sinochem from investing in the?company based in Milan. This is due to pressure coming from?the United States. The Financial Times reported Tuesday that the United States was exerting pressure on Pirelli. Camfina, Pirelli's Italian-American investor, had complained earlier that Sinochem was preventing the tyremaker from expanding in the U.S. as Washington tightens restrictions on Chinese technology for the automotive industry. According to LSEG 'data, Sinochem is Pirelli’s?largest shareholder with a stake in the company of approximately 34.1%. Rome is considering a new intervention, as Washington's upcoming ban on Chinese-backed...

The Dow Jones Industrial Average reached a new high on Tuesday as oil companies and financials gained. The U.S. oil industry got a boost after the military raid that took place in the U.S. over the weekend, which captured Venezuelan president Nicolas Maduro. Crude oil fell back $1 per barrel after it rose overnight as traders assessed possible impacts on crude oil flows from Venezuela. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The...

Data showed that the Middle East crude oil benchmark Dubai fell into a discount on Friday, for the first since December '2023. This was due to an excess of supply and low demand during 'the earliest day of trading for 2026. According to trade sources, the Dubai cash price for a barrel was $60.30, or a 13-cent discount to Dubai swaps. There were only two partials of March loading during the S&P Markets On Close price?assessment. Sources said that the immediate January-February Dubai crude price spread was converted into a contango on Friday of approximately 17-20 cents a barrel. In...

China must stabilize grain and edible oils production, improve 'grain varieties' and enhance quality. This was the message of state-run news agency Xinhua on Tuesday following a meeting of the annual Central Rural Work Conference held from December 29-30. The group that sets China's agricultural priority has pledged to "enhance capacity for diversified supply" and promote high-quality development through?zoned- and categorised-planning". China relies heavily on imports to feed the population. Tensions with U.S.A., its'major trading partner in agriculture, have led it to invest more in seed technology and machinery. A Xinhua report on the meeting stated that "we must not...

Donald Trump's decision imposing a partial Venezuelan blockade marks a dramatic increase in U.S. political pressure on Venezuelan President Nicolas Maduro. But it could also undermine a key U.S. goal: deterring an eventual Chinese naval encirclement. The U.S. President on Tuesday ordered a "total and complete blockade" against all sanctioned oil tanks entering or leaving Venezuela. This was a move to choke off the main source of revenue for the Maduro regime. The action immediately raised questions about its legal status under international law. Military planners in the Indo-Pacific have feared for years that China could use a blockade of...

Pirelli, a tiremaker, said that on Thursday the majority of holders of the 500 million euro bond due to expire this month have chosen to convert the bond into new shares in the company. This has diluted the stakes owned by existing investors. Pirelli announced that bond holders had chosen to convert their bonds into shares at a price of 5.8493 euros per share, which was announced in June. Pirelli said that to meet the conversion, it would issue around 84.88 millions new shares, which will dilution its shareholder's?holdings. Sinochem, the largest shareholder in Pirelli, is expected to reduce its...

Holders of Pirelli's 500 million euro (582 million dollar)?bond? will decide on Monday if they want to convert the bond into shares. This could dilute the stakes that the existing investors hold in the group, who are fighting over the Italian tiremaker's governance. Sinochem, the Chinese state-owned company, and Marco Tronchetti Provera, an Italian businessman, both owning Camfin, have been at odds with each other in recent years. Camfin has complained that Sinochem's share is preventing the group from expanding into America. The tiremaker issued a five-year, no-coupon convertible bond at the end 2020. The bond is due to expire...

SolGold announced on Friday that it would "recommend to its shareholders, Jiangxi copper?an improved offer?valuing the gold and copper mining company at approximately?842?million pounds? ($1.13 billion) amid a worldwide race for copper assets. Jiangxi Copper has increased its offer to 28 pence per Share, marking the third time that it has proposed to buy SolGold. This is a 7.7% rise from their previous bid of 26 pence per Share which was rejected last month. SolGold, a company based in Ecuador, said that its board will tell shareholders to accept Jiangxi Copper's (JCC) offer if it is firm. JCC's pursuit for...

A judge in Ecuador ordered Monday that former president Lenin Moreno stand trial for alleged bribery related to the construction of Ecuador's largest hydroelectric plant. The case was first brought in March 2023 by the prosecutor’s office. It involved Moreno and members of his family as well as local and Chinese business partners in connection with bribes paid for the construction Coca Codo Sinclair, which started operations in 2016. Since then, it has been plagued by technical problems. According to the prosecutor, Sinohydro (the Chinese builder of the hydroelectric plant) allegedly paid around $76million in bribes between 2009 and 2018....

Iron ore futures in Dalian edged up on Tuesday due to a restocking of steelmakers' stocks by the top consumer, China, ahead of the Lunar New Year holiday. As of 0255 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was 0.24% higher. It stood at 823.5 Yuan ($118.06), per metric ton. The benchmark iron?ore for February on the Singapore Exchange fell 0.26% to $108.9 per?ton. According to a report from the consultancy Mysteel, global iron ore shipment from Australia and Brazil dropped?by 1,36 million tons on a week-to-week basis, but total volume arriving in China...

Prices of copper fell on Tuesday, as the expectation for rate reductions in the United States eased. This prompted a round of profit-booking. As of 0243 GMT, the most traded copper contract on the Shanghai Futures Exchange had fallen?0.36%?to 102,600 Yuan ($14,706.73) a metric ton. The contract reached a high of 104,800 Yuan during the session. This is close to the previous record of 105,500 Yuan, which was set last week. The benchmark three-month copper price on the London Metal Exchange fell 0.6% to $13,130 a ton. JP Morgan has said that it does not expect the Federal Reserve to...

Prices of copper rose to record levels on Monday, mainly due to optimism over robust demand from China, the world's largest consumer. Benchmark 'copper' on the London Metal Exchange rose 1.6% to $13,205 per metric tonne by 1024 GMT, up from $13,243.5 earlier. The metal used in cable conductors reached a record high of $13,387.50 last week, a rise of over 50% from the beginning?of the year. China's plans for a nuclear power plant in Roll out A package of fiscal policy to?boost the demand and ensure that the economy gets off on a good footing this year has been...

VHM, an Australian rare earths mining company, announced on Monday that it has terminated the?offtake contract with China's Shenghe Resources in relation to its Goschen rare Earths project? after conditions precedent were not met. If current trends continue, shares of?VHM could rise as much as 12.1% in early trading to A$0.465. This would be their best day since the 10th November. VHM stated that the decision was a sign of its intention to reach out to a larger pool of buyers, as global demand for minerals critical is increasing from buyers outside China. Macquarie Capital was hired by the company...

The copper price rose on Friday as investors renewed their bets that future demand will increase. Aluminium prices also reached their highest level since April 2022. Benchmark three-month Copper on the London Metal Exchange rose 1.8% by 1107 GMT to $12,943 per metric ton. Due to fears about tightening supply and bets on future surges in demand due to the AI boom and the energy transition, this metal used for power and construction hit a new record high of $12,387.50. Rio Tinto, a global mining company, is in the early stages of talks with Glencore to create the largest mining...

AustralianSuper, BlueScope Steel's largest shareholder, said that a $9 billion takeover bid from SGH & Steel Dynamics in the U.S. undervalued the company and it supported its decision to reject this offer. After announcing its increase from 12.5% on Thursday, the pension fund now holds 13.52% in BlueScope. BlueScope, which rejected the SGH Steel Dynamics offer of?A$30 a share on Wednesday, said that it was "significantly undervalued" and accused the acquirers for trying to purchase BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we?support the BlueScope Board's decision to?reject?the offer" and to'remain focused' on executing the strategy of the company...

BlueScope Steel’s largest investor, AustralianSuper said on Friday that it supported the Australian company's decision to reject a $9 billion offer from U.S.-based Steel Dynamics and?SGH?. After announcing its increase in stake on Thursday, the pension fund now holds 13.52 % of BlueScope. BlueScope rejected the $A30 offer from?SGH & Steel Dynamics on Wednesday, saying that it was "very significantly undervalued". The company also accused the acquirers of trying to buy BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we support the BlueScope Board's decision to reject the offer and remain focused on executing the company's strategy, without distraction." The...

China's Industry?Ministry said Thursday that it has urged a battery manufacturer to optimise the industry capacity and?mitigate overcapacity risks. According to the readout from a meeting posted on Wechat on Wednesday, the ministry stressed the need for market regulation and enhanced supervision in the electric vehicle and battery storage sectors. China Daily, citing sources, reported that 16 companies, including top battery manufacturers, were present. According to the report, energy storage system integrators Beijing HyperStrong Technology and Zhuzhou CRRC Times Electric, as well as Trina Solar – a leading solar manufacturer – were also present. The state planner, the?industry minister and...

Iron ore futures fell on Thursday, after a four session rally. Investors booked profits due to fears of a possible government intervention in China, the top consumer. Prices were nearing the psychologically important level of $100 per metric tonne. The May contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading session down by 0.37% to 813 yuan (116.42 dollars) per ton, after reaching 831.5 earlier in the morning, the highest price since July 22, 2025. The benchmark February Iron Ore on the Singapore Exchange fell by 1.05% at 0715 GMT to $107.9?a ton after reaching its...

China's refined copper exports surged to records levels in the last year, as the world’s top buyer found themselves in unusual competition with the U.S. CME's U.S. Copper contract continues to command an impressive premium over the London Metal Exchange's (LME) international copper price as the "market prices" in anticipation of possible U.S. Tariffs. The decision was deferred to June of this year. The ripple effect of U.S. metal delivery premiums is now emptying China’s bonded storage zones. China's exports jumped from 698,500 tons to 143,000 in November. This is already a record. The total for November included 57.700 tons...

The FIM Cisl trade union said that the production of Stellantis vehicles in Italy fell 20% annually in 2025, to 379.706 cars. This is a new concern for the future health of the Italian auto industry. The government of Prime Minister Giorgia Melons said that in 2023, it wanted Stellantis' Italian auto production to reach 1 million units a year. However, the automaker has continued to shrink. FIM Cisl's?Ferdinando Uliano, who presented the union report, said that in 2025 the production of passenger vehicles, excluding light commercial vehicle, will fall by 24.5% on an annual basis to 213,706 cars, the...

Nickel remained near multi-month highs as expectations of tighter supplies from Indonesia, the top nickel producer, kept it steady at record levels. The Shanghai Futures Exchange's most traded?copper contracts closed the daytime trade?0.11%?higher, at 103410 yuan (14,800.13 dollars) per metric ton. This is still below a previous record of 105500 yuan. As of 0700 GMT the benchmark three-month price of copper at the London Metal Exchange was down 0.87%, to $13,122.50 per ton. This is after it reached an all-time record high of $13,387.50 a ton on Tuesday. Citi raised its copper price forecast for the near term to $14,000...