East Asia

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 markets are awash with red flags that warn of another turbulent second half in 2026. Don't mistake turbulence for a sign of a correction. Late bull markets are often characterized by wild volatility, eye-watering price fluctuations and a wide range of asset classes and benchmark indices. This is when exuberance becomes irrational, to paraphrase late Federal Reserve chair?Alan Greenspan. These dynamics are playing out in varying degrees on many markets. Silver has fallen 55% since its January peak and Bitcoin's value has dropped by more than half since November. The tech market has been a volatile ride -- the...

The Gulf peace may reduce pump prices but it won't solve the Federal Reserve’s biggest problem. That is, a U.S. Economy that was already overheating prior to the Iran War. Oil prices falling to levels seen before the war could spur demand and increase cost of living fears at a crucial time. This sounds like "damned-if-it does, damned-if-it doesn't" dilemma. Normalizing fuel prices may not solve the Fed's dilemma over inflation and interest rates as quickly as President Donald Trump or the Fed would like. The 'inflation debate' before the conflict was ambiguous, as markets sided with the Fed's guidance...

These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not verified these stories and cannot vouch for their accuracy. Donald Trump has ordered the Department of Justice (DOJ) to investigate oil companies that have not reduced gasoline prices in line with the falling crude cost, accusing them of "gouging". The Pentagon has awarded Lockheed Martin a contract for up to 35 billion dollars worth of Thaad interceptors?to replenish U.S. stocks after the 'Iran War. SK Hynix, a memory-chip giant, plans to raise more than $29 billion via a Nasdaq IPO to fund its expansion...

SK Hynix, a South Korean company, said it planned to?raise up to $29.4billion through a U.S. -stock market listing. This would be one of the largest?listings globally. If completed at the top end, the deal would be the second-biggest share sale after a record $85.7 billion initial public offering by SpaceX earlier this month, surpassing Saudi Aramco's $25.6 billion IPO in 2019and Alibaba'ssimilar-sized offering in 2014. The planned listing reflects a strong global appetite for AI linked equities even as volatility rises across U.S. technology and semiconductor markets. This comes after Elon Musk's SpaceX and other record-breaking equity offerings in...

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 National Stock Exchange of India filed draft papers to?along-delayed listing? that will be one of the two mega initial public offerings in India this year. Alongside billionaire Mukesh?Ambani's Reliance Jio. NSE's IPO will likely?be worth $3.3 billion based on a?pricing of its shares in the private market, and it comes?after...years of regulatory delay. As part of this issue, existing investors will sell 6% equity in the company. This will be an offer-for sale with no new equity raised. Ambani’s AI-to Telecoms arm Reliance Jio Platforms, is also preparing for an IPO that could be the largest ever in India....

Sources in the industry said that China's state buyer of iron ore has asked some domestic steel mills to not accept certain portside products of iron ore from Fortescue. This is the latest Australian miner to be snared by Beijing's efforts to 'increase' control over the market. Five sources familiar with the matter said that China Mineral Resources Group (CMRG), notified mills verbally on July 15th, they should not accept portside cargoes containing Fortescue’s Super Special Fines or Fortune Fines. These are both lower-grade products of iron ore. The move is part of CMRG’s campaign to assert its control over...

Aluminum prices fell to their lowest level in four months Wednesday, and copper also lost ground as funds liquidated bullish 'positions due to concerns over rising?U.S. Interest rates and uncertainty about negotiations to end the Iran conflict. The benchmark three-month aluminum on the London Metal Exchange fell 0.9%, to $3,058 per metric ton, by 0930 GMT. It had previously reached its lowest level since February 19, at $3,045.50. Tuesday, metals used for transport, packaging, and construction saw their biggest quarterly and month-to-month declines in years. Ole Hansen is the head of commodity strategy for Saxo Bank, a Copenhagen-based bank. The...

Aluminum prices fell to their lowest level in four months on Wednesday as investors unwound risk premiums associated with the Gulf, despite new uncertainty surrounding U.S. diplomacy towards Iran. As of 0715 GMT the benchmark 'aluminium' for three months on the London Metal Exchange was down 0.73% to $3,063 per tonne, after hitting a four-month-low at $3055.50 earlier during the session. On Tuesday, it posted its largest quarterly and monthly drops in years. The Shanghai Futures Exchange's most traded aluminium contract tracked the LME. It closed daytime trade at 22,370 Yuan ($3,292.47) per tonne, down 0.95% from its six-month-low of...

Oliver Blume, the head of Volkswagen, is planning a historic overhaul to adapt to structural changes in the global automotive market. Rising Chinese competitors, tariffs, and weak demand for cars in Europe are all affecting its business model. The crisis has increased scrutiny on Europe's largest automaker. It has been struggling for years with a complex structural design, a weak share performance, and some stakeholders' resistance to painful costs cuts. PARALYSED CONGLOMERATED Volkswagen's "governance" and "structure and ownership" are unique to the auto industry. They combine powerful unions and the billionaire Porsche-Piech family, who control the majority of the voting...

Ferrari and BMW have introduced new models with lightweight, cost-effective aluminum wiring. This is accelerating the shift away from copper as the dominant material for electric wiring ever since the invention two centuries ago of the electric batteries. JPMorgan predicts that the decisions will affect around 2% global copper demand in this year. Tesla and Chinese EV makers have also made similar moves. The structural increase in copper prices could lead to even more copper being switched over to aluminium. This is due to the increased demand for data centres and green energy, as well as the shortage of copper....

Copper fell on Friday, and was 'on track for its steepest week-to-week drop in more than three months. A selloff in technology equities spilled over into the metal. Benchmark 'three-month' copper on the London Metal Exchange was down by 0.3% to $13,236 per metric ton at 0920 GMT. Metal, considered to be a bellwether of global economic health, is on track to end the weekend down 2.6%. This would mark the biggest weekly drop since the week ended March 20. Apple's price increases fueled concerns about the inflationary impact of tech giants' spending. Robert Montefusco, senior broker at Sucden Financial,...

The price of iron ore rose on Friday, erasing earlier losses. It was set to be the first weekly gain for seven weeks as traders covered their short positions amid resilient consumer demand in China. The iron ore contract most traded on China's Dalian Commodity Exchange closed daytime trading up 0.81% to 748 yuan (109.98 dollars) per metric ton. This was a 0.3% weekly gain. As of 0825 GMT, the benchmark July Iron Ore was trading at $99 per ton on the Singapore Exchange. It has gained 0.2% this week. The morning trade saw both benchmarks fall as the sentiment...

The copper price is expected to fall by at least 1% on Friday due to a stronger dollar and continuing macroeconomic concerns. However, dip buying has limited the loss. Benchmark three-month?copper on the London Metal Exchange fell by?1% at $13,137 per metric ton?by 3:00 GMT. The Shanghai Futures Exchange's most traded copper contract remained largely unchanged, with a 0.1% increase at 101,360 Yuan ($14900.84) per ton. The copper price was expected to drop by over 3% in both markets at the end of this week. The U.S. dollar gained 0.09%, partially reversing Thursday's ?decline and making greenback-denominated commodities more expensive...

Iron ore fell on Friday, and was headed for a seventh consecutive weekly loss. This was due to a swollen portside inventory, faltering steel demand in China's top consumer, as well as falling global freight rates. The most traded iron ore contract at China's Dalian Commodity Exchange has fallen 1.5%, to 733.5 Yuan ($107.83), a metric tonne, and is down 1.7% for the week. The benchmark July Iron Ore at the?Singapore Exchange is 0.5% lower, $96.95 per ton. This represents a 2.3% drop so far this week. Stocks of iron ore piled up in ports across China due to a...

Chinese coking 'prices' pared gains earlier to trade lower?Thursday, as concerns about demand prospects for steelmaking ingredients were fueled by a slump in steel consumption. Data from the consultancy Mysteel revealed that apparent consumption of five major steel products sank 6.5% on a week-on week basis as of Thursday. This compares to a gain of 3.1% during the previous week. Steel prices and feedstocks were under pressure due to the deteriorating market sentiment. The Dalian Commodity Exchange's (DCE) most traded coking coal contract closed the daytime trading 0.88% lower, at 1,238.5 Yuan ($181.99) a metric ton. The most actively traded...

Aluminum prices fell on Thursday as the Middle East war-risk premium faded, as the fragile peace in?region continued to hold. The Shanghai Futures Exchange's most traded aluminium contract fell 2.75% to?22.825 yuan (3,354.55) per ton after?falling?to an earlier 2026 record low price of 22.665 yuan per ton. The benchmark three-month aluminum on the London Metal Exchange was up 0.13% to $3,126.5 per metric ton at 0339 GMT. This marks an 8% decline since the beginning of the week. As ships passed through the Strait of Hormuz, prices for the light metal fell this week. A fragile peace seemed to hold....

The price of aluminium fell to pre-Iran war levels on Wednesday as the U.S. Dollar strengthened and the Middle East Risk Premium continued to decline. This outweighed any signs of disagreement between Washington and Tehran regarding key terms of a peace agreement. Benchmark three-month aluminum on the London Metal Exchange fell 3.3% to $3,124 per metric ton at 1601 GMT. It had earlier fallen as low as $3,110 and was below the support of the 200 day moving average, which is around $3142. The price of'metal for construction, packaging, and transport has fallen 18% after the Iran War caused Gulf...