East Asia

Can India do for Asia's refined-fuels market what China did? China drastically cut its crude imports to a decade low in June in response to the U.S. and Israeli war against Iran. This freed up oil for buyers who were struggling to find cargoes due to the 'effective closure of Strait of Hormuz. India has taken a different approach, purchasing Russian crude oil and increasing?exports?of refined products in order to offset the lower shipments of refineries from the Middle East and Russia. According to commodity analysts Kpler, India's light and middle distillates exports are expected to hit 1.55 million barrels...

Ankur Banerjee gives a look at what the day will bring for European and global markets. After five months of observing events in the Strait of Hormuz investors are now focusing on the Arabian Peninsula, where the Iranian-aligned Houthis who control the area near the 'Bab el-Mandeb strait, in the 'Red Sea open a new rift in the Middle East crisis. Brent futures have reached $96 a barrel, their highest level since early June. Investors are worried about stockpiles being depleted after Houthis announced a naval blocade against Saudi Arabia this week. Ship-tracking data revealed that the threat caused tankers...

The stock market made a few gains on Wednesday, but the positive impact of a strong Wall Street session was offset by caution as investors waited for earnings reports from Big Tech. Meanwhile, the oil price rose due to threats from Houthi "rebels" to escalate the Middle East conflict. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.2%, while the South Korean Kospi's gains were reduced to just 1.5% from an earlier gain of over 6%. The Nikkei225 in Japan fluctuated between gains and losses. Meanwhile, S&P 500 futures fell 0.2% along with a 1.2% drop for Hong...

The Nasdaq, chipmaker shares and major stock indexes all rose on Tuesday amid the rising tensions over the Iran conflict. Oil prices also reached a five-week high. Benchmark 10-year U.S. Treasury Yields hit a two-month peak as traders pondered whether the new spike in oil prices would affect consumer prices, and increase the likelihood of Federal Reserve rate hikes. Two oil tankers transporting Saudi crude from the Red Sea to Asia have reversed their course after being threatened by Yemen's Iran aligned Houthis. U.S. Crude?rose by 2.32%, to $85.16, and Brent rose by 2.08% to $91.08 a barrel. Bruce Zaro...

Wayne Cole gives us a look at what the future holds for European and global markets. While Spain hoisted the World Cup in celebration, the U.S. Military began?its ninth day of attacks against Iran. Iran was also?hitting targets throughout the region. On Sunday, only a few ships crossed the 'Strait of Hormuz. One was on fire. Brent crude oil rose above $90 per barrel for the very first time since June. Treasury bond futures fell as investors lowered the odds of a Federal Reserve interest rate hike in September. The implied probability was around 65%. The rise in 30-year Treasury...

Want some inspiration? Weekend Reads is a weekly roundup of what the Open Interest team has read, watched and listened to. This week, the Open?Interest team has chosen to focus on the 'race to reinvent critical mineral resources,'?oil benchmarks that are under pressure and great-power geopolitics. This weekend, we are reading... MIKE DOLAN is a columnist for ROI Finance & Markets. The Pew Research Center’s Global Attitudes Survey found that China was viewed as more favorable than the United States in 36 countries. The U.S. Department of Energy released this release by ROI Metals columnist ANDY HOME. It details five...

Stella Qiu gives us a look at what the future holds for European and global markets. The'monstrous' rally of Asian?chipmakers is now hitting a rough patch. The jitters can be seen in the extreme volatility of South Korea's KOSPI market, where 'wild swings' in chip giants like Samsung?Electronics or SK Hynix are a recurring occurrence. The index fell 6% on Friday, bringing it down to 27% below its peak in June and increasing the pain of some leveraged retail funds. This tumble is a confirmation of investors' concerns at a moment when everyone is concerned about the rising costs of...

Asian shares dropped on Thursday, as chipmakers stumbled before results from bellwether TSMC. Bonds benefited 'from another benign reading of U.S. inflation which?lessened risk of an impending rate hike. As hostilities escalated in the Middle East, oil prices continued to rise. Washington has continued to strike Iran following the re-imposition of a naval blocade on its ports. Meanwhile, Tehran has warned of an "existential conflict" with America. Brent crude futures increased 0.6% to $85.45 per barrel, adding to the 12% gain this week. The quarterly earnings of Taiwan Semiconductor Manufacturing Co. (TSMC), world's leading manufacturer of advanced AI chip, are...

Officials at the company said that 'Sinopec' is undertaking a major restructuring within its own organization, establishing new business units, and moving hundreds of staff in order to re-establish profits amid a slumping Chinese demand for oil, petrochemicals, and other products. Sinopec, a state-owned company, has lagged behind its peers PetroChina Ltd and CNOOC Ltd in recent years. These companies benefit from a greater focus on oil production. Sinopec's reorganisation, which began in early this year, is aimed at focusing more on the needs of customers and efficiency. Chairman Hou Qijun was a geologist, and former general director at Chinese...

The stock market rose on Wednesday, bonds were stable and oil was down as the U.S. dropped its plan to tax shipping through the Strait of Hormuz. South Korea's volatile KOSPI index jumped 6%, while Japan's Nikkei climbed 1%. However, volume was low and mood nervous due to the slowdown in AI stocks. ASML, Europe’s most valuable company, and the world’s largest supplier of chipmaking machinery, has beaten revenue expectations, and will likely set the tone for the European Open. The European futures declined by 0.2%, the FTSE futures dropped 0.3% and Nasdaq Futures rose 0.8%. The U.S. consumer price...

Tom Westbrook gives us a look at what the future holds for European and global markets. The AI rally is experiencing some speed wobbles as Europe's?valuable? company and top supplier of chip making equipment?reports Wednesday. ASML is the only manufacturer of the lithography machines that cost $300 million and are used to create the circuitry for cutting-edge chips. LSEG estimates show that it is expected to report an 8.8% increase in the second-quarter's net profit of 2.61 billion euro ($2.99 billion), on a revenue growth of 14% at 8.8 billion euro. Analysts also expect the company's revenue forecast for the...

The shares were modestly up on Tuesday, after U.S. inflation figures that were weaker than expected and strong earnings for the second quarter from major banks. Oil prices also rose as the U.S. fought Iran 'for control' of the Strait of Hormuz. The U.S. Consumer Price Index rose by less than expected 3,5% over the past 12 months, after a 4.2% increase in May. Analysts had expected a month-over-month drop of 0.1%. This is mainly due to the drop in gasoline prices last month from their multi-year highs, as a fragile U.S. Iran ceasefire was implemented last month. On Tuesday,...

Guinea's bauxite exports rose 15% in the first half if?2026 to a new record high, according to official data. This was due to strong Chinese demand, despite increasing pressure on smaller producers because of rising fuel and shipping costs. Bauxite feedstock is used to make alumina. Alumina is an important ingredient in aluminum, which can be found in many industries, including transport, construction, and packaging. Guinea, which is the largest bauxite supplier in the world, exported 114.8 million tons between January and the end of June. This was up from 99.8 millions tons a year ago, according to data released...

Copper prices rose on Wednesday, after reaching a six-week high the day before due to shortages and falling inventories outside of the U.S. However, gains were capped by resistance from China to higher 'prices and inflation fears. The benchmark three-month copper price on the London Metal Exchange rose 0.1% to $13,894 per metric tonne by 0930 GMT, after reaching its highest level in over six weeks on February 22 at $13,934. Alastair Munro is a senior base metals strategist with broker Marex. He said: "That it stalls before $14,000 reminds all of us that China is not a chasing price,...

South Korean shares closed slightly higher on Tuesday, after a sharp rise in the early going. However, caution before key U.S. technology earnings and chip earnings underscored the market's reliance on heavyweight chipmakers. The benchmark KOSPI Index settled 0.7% higher, at 6,797.7, after rising 6.2% during early trading. This was largely due to a 9% increase in AI memory chips maker SK Hynix. SK Hynix reversed its course and ended marginally lower, while Samsung Electronics finished slightly higher. The'sharp swings' highlighted the dominance and power of Samsung Electronics, SK Hynix and other companies that together account for more than half...

Shanghai copper prices rose on Wednesday to a seven week high as supply concerns and a 'firm Chinese demand' pushed up the price. London copper fell after reaching a six week peak just a day before. As of 0700 GMT, the most traded?copper?contract at the Shanghai Futures Exchange had risen by 0.94% to 105,820 Yuan ($15.625.65) per metric ton. It had reached its highest level since June 3, at 106760 yuan, earlier in the day. The benchmark three-month copper price on the London Metal Exchange fell 0.57%, to $13,806.5 per ton. This was after it hit a six-week-high on Tuesday....

Lynas Rare Earths, a company based in Australia, warned on Wednesday of an overrun cost at its expansion project for heavy rare earths in Malaysia. The warning came after the company reported fourth-quarter revenues below analyst expectations. Its shares fell to a five-month-low. The cost of the Malaysia project has increased from A$180 to A$294 millions, highlighting the difficulties Western producers face in producing these niche metals. Lynas stated that the next step in the project will be the production of gadolinium early in fiscal year 2028, followed by yttrium early in calendar year 2028, and finally lutetium. The company's...

The price of copper hit its?highest level in over a month Tuesday. This was largely due to a firm demand from the top consumer China, and a sharp drop in inventories. Benchmark three-month?copper?on London Metal Exchange rose?1.5%?to $13,826.50 per metric ton at 1405 GMT. This was its highest level since June 15 A tightening Chinese economy is driving copper prices higher. Stocks are dropping, import premiums have risen and physical demand is stronger than expected despite seasonal slowdown, said ING 'commodities analyst EwaManthey. The Shanghai Futures Exchange's most traded copper contract rose 1.6%, to 105460?yuan (15,589.29 dollars) per ton. Premium...

Some investors are buying back the laggards as big investors start to sell and Indonesia's battered, unloved stock markets is gaining some love. Jakarta's stock market has been Asia's worst performing'major' stock market for this year. It is down by 28%. Investors have been looking at markets with less of a focus on AI. David Chao is the Asia-Pacific Global Market Strategist at Invesco, based in Singapore. He said: "We have been buying Indonesia and taking a profit in South Korea." "Indonesia remains the most overlooked macro-growth story." BARGAIN HUNTERS ARE SEEKING VALUE AS SENTIMENTS CHANGE Although still cautious, the...

President Donald Trump signed an executive directive on Monday that makes it more difficult for U.S. Defense contractors to get waivers to purchase critical minerals and materials from China or other banned foreign suppliers. This is the latest attempt by the Trump administration to reduce its reliance on overseas supply chain for weapons production. Defense contractors must now do more than just show that a Chinese supplier offers the cheapest or easiest option. Companies requesting a waiver must prove that they have looked for alternatives, disclosed the origins of materials and provided a plan on how to reduce their reliance...

Copper prices rose slightly on Monday. This was mainly due to a decline in inventories, and a disappointing supply from the top producer, Chile, while sluggish demand conditions weighed. Benchmark three-month Copper on the London Metal Exchange increased?0.06% by?0710 GMT to $13,533.5 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.2%, to 104.020 yuan (15,361.44) per ton. Daniel Hynes said that the losses were limited due to ongoing supply concerns. BHP has lowered its copper production forecast for the year after a mechanical breakdown at a South Australian mining site and lower ore grades in Chile....

Prices of copper edged up on Monday due to a?shrinking inventory and supply risk, but uncertainty about the?demand outlook limited gains. By 0300 GMT, the benchmark three-month copper contract on the London Metal Exchange had risen 0.16% to $13,546.5 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.39%, to 104210 yuan (US$15,389.50). Daniel Hynes said that the growth of copper production in Chile, the world's largest producer, has been "elusive" so far, according to a note by Daniel Hynes senior commodity strategist with ANZ. South32, an Australian mining company, reported lower fourth quarter copper production, falling...

An official stated on Friday that Zimbabwe's only lithium sulphate facility, owned by China’s Zhejiang Huayou Cobalt?, has no capacity to process minerals from other producers. This is ahead of an export ban for concentrates next year. Africa's largest lithium producer will implement a ban in January to encourage miners to process the battery metal at home, creating higher-valued export earnings and more jobs?in its economy. The government told lithium miners to send their concentrates directly to local plants. One of the plants in Zimbabwe, owned by Zhejiang Huayou Cobalt and operated by Prospect Lithium -Zimbabwe has not yet been...

Copper and the base metal complex as a whole fell on Friday due to deteriorating risk sentiment from the Middle East conflict. This prompted inflation fears and cast a shadow on the demand outlook. Benchmark three-month copper on the London Metal Exchange fell 1.01%, to $13,461 per metric ton at 0715 GMT. Shanghai Futures Exchange's most traded copper contract fell by 0.73%, to 103 550 yuan (15,284.13) per ton. Copper, also known as "Dr Copper", fluctuated throughout the week. In London, it is expected to end the week with a marginal gain of 0.08%. As a result of the breakdown...