East Asia

According to trade sources, and LSEG data, the prices of liquefied petrol gas and?naphtha jumped on Thursday in Asia after Saudi Aramco halted the exports from a major terminal. This disrupted supplies to the area, and India is likely to be the worst hit. On Wednesday, Saudi?Aramco announced that it had halted LPG deliveries this week at its eastern terminal in Juaymah. This terminal is one of the largest exporters of butane and propane. It suffered structural damage to its delivery system on February 23, which was a result of a component being damaged. Fuel from the terminal near Aramco’s...

The race for artificial intelligence dominance by Big Tech may soon hit a bump in the road as U.S. power grids struggle with keeping up with hyperscalers who spend big. Microsoft, Amazon and Alphabet, among other technology giants in the US, announced in recent months that they plan to spend $600 billion in AI by 2026. Some investors are already concerned about the profitability of this strategy due to the investment wave. The ambitious U.S. AI plans will be hindered by severe power-infrastructure bottlenecks including turbine shortages and slow grid expansion. The processing and cooling of data centers that are...

Oil prices were below a seven-month high as traders weighed the uncertainty surrounding U.S. Trade Policy and the prospects for U.S. Iran nuclear talks in light of heightened Middle East tensions. Brent crude futures fell 9 cents or 0.1 percent to $71.40 per barrel at?0120 GMT. This follows a volatile session on Monday, when it reached its highest level since the 31st of July, $72.50, while alternating between gains and losses exceeding 1%. U.S. crude oil futures fell 11 cents or 0.2% to $66.20 per barrel. This is after the previous session saw a rise to $67.28 - the highest...

The U.S. Commerce Department will announce a preliminary decision Monday on whether to impose antisubsidy duty on solar 'cells and panels' imported from India, Laos, and Indonesia. This announcement is one of two that the agency will make in the next few weeks regarding a trade dispute brought by a small group in the U.S. solar industry. Commerce will 'likely make final decisions later this year. The decision on Monday will examine whether the companies in these three countries have received unfair government subsidies, which make American products less competitive. Commerce will make a decision on a separate issue next...

The cartel office of Germany said that changes in Germany's energy market have increased RWE's, LEAG's and EnBW's clout, which has led to a greater reliance on imports, as well as an increase in supply risks. According to the Bundeskartellamt annual report, which is based on data between May 2024 and April 2025, Germany's move away from flexible energy sources, such as coal, nuclear, and hydroelectric, has made remaining plants more important for meeting demand. The country temporarily activated reserve?stations to meet the energy needs of the crisis caused by Russia's conflict in Ukraine. However, from early 2024 onwards it...

The administration of President Donald Trump announced on Tuesday that Japan would?finance three projects worth $36 billion, including an oil-export facility in Texas, a diamond plant in Georgia, and a natural-gas power plant in Ohio. Trump stated on Truth Social that the projects were part of Japan's $550 Billion U.S. Investment pledge, as part a trade agreement that reduced Trump's tariffs against Japanese imports by 15%. Trump gave very few details on the projects. In a statement, Commerce Secretary Howard Lutnick stated that the Portsmouth, Ohio, power plant would be the world's largest natural gas-fired generation facility with a capacity?9.2...

The Nigerian Dangote Group announced on Tuesday that it had signed a $400 million equipment deal with China’s Xuzhou?Machinery Group in order to accelerate the expansion of its oil refinery towards a planned 1.4 million barrels per day. The new equipment will support major construction projects in the refining industry, petrochemicals sector, agriculture, and infrastructure. Dangote stated that the XCMG contract would allow the company to purchase a?range of heavy-duty machines to complement the existing assets deployed to the?refinery?build-out which it expects to be completed within three years. Polypropylene production will increase from 900,000.00?tons to 2.4million tons annually as part...

A government source revealed that India was looking for new markets to export steel in the Middle East and Asia in order to offset the carbon tax imposed by the European Union in January. India, which is the second largest producer of crude iron and steel in the world, exports roughly two thirds of its output to Europe. The EU's Carbon Border adjustment Mechanism has put pressure on the flow of steel into Europe. Last week, Sandeep Poundrik, the Steel Secretary of India said that the government will have to take steps to support exports affected by Europe's Carbon Tax....

On Wednesday, top business leaders called on the European Union to take urgent action to lower energy prices. They said that this was crucial for European industries to be able to compete with the U.S. The message from the industries was timed to land just before EU leaders meet in a Belgian Castle on Thursday for a "retreat". They will discuss how Europe can compete with China and America economically. In a written declaration, CEOs from the city of Antwerp stated that the next five years would be the most challenging in Europe's industrial history. The outcome of the crisis...

Sources and company executives claim that some Brazilian power companies are withdrawing from the energy trading market due to rising credit risk, increased price volatility, and shrinking sales from generators. CPFL &?CTG Brasil are two of the major generators controlled Chinese groups that have stopped "directional trading" in which firms took long or short positions on price fluctuations to profit. Local groups like Capitale, Urca, and Trinity have cut back or stopped trading operations. Brazil's billions-dollar power trading market?operates via bilateral agreements without a central counterparty to monitor leverage. This makes reputation important, especially for independent investors who do not...

The Italian tyremaker Pirelli has said that it opposes any spin-off of its 'cyber tyre' activities. This was in response to a proposal put forward by Sinochem, a Chinese shareholder, to settle a governance issue. Directors are against "any project or initiative that might lead to any form of compartmentalization, separation and/or segregation, even only partially, and of any nature," ?Pirelli said in a statement. It added that the board supported the position by a vote of 9-5, with five directors appointed in China voting against. Sinochem, a Beijing-controlled company, is the largest shareholder in Pirelli with a stake of...

Japan's No. Idemitsu Kosan, Japan's No. Idemitsu collaborates with Toyota Motor in order to commercialise the next-generation batteries. This will help Toyota Motor achieve its goal of launching all-solid state batteries-equipped electric vehicles by 2027-2028. This decision marks the beginning of a 'next phase towards commercialisation. Solid-state batteries are a hot topic among automakers and battery manufacturers. They're hailed as a key component to?longer-lasting, safer and more affordable electric vehicles. Idemitsu develops mass-production technologies for solid electrolytes - a key component of solid state batteries - and manufactures samples in two small-scale facilities, one of which is primarily focused on...

Iron ore futures were unable to find direction on Thursday, as traders considered the reduced demand for feedstock due to upcoming production cuts and signs that Beijing would?implement additional property stimulus measures. As of 0302 GMT, the most-traded contract for May?iron ore on China's Dalian Commodity Exchange was trading 0.4% lower. It was 745.5 Yuan ($108.91), per metric ton. The benchmark March ore price on the Singapore Exchange fell 0.27% to $98.4 per ton. Chinese steelmakers in the northern region of China will have to reduce production by 30% or more starting March 4, to maintain clean air during the...

Zimbabwe has suspended exports of raw minerals and lithium concentrates, its mines ministry announced in a Wednesday statement. The government had accused the country of malpractices and leakages. The Ministry said that the export ban would continue until further notice, and apply to all minerals in transit. The statement stated that the government expects the mining industry to cooperate on this measure, which was taken in the interest of the nation. The government said it was committed to "...in-country beneficiation and value addition, compliance?and accountability" in the export of Zimbabwe's minerals resources. The mines ministry, in a letter sent to...

Analysts and consultancies have said that some Chinese steelmakers will need to reduce production by at least 30% starting March 4, in order to maintain a clean air quality for the annual parliamentary meeting. During meetings, Chinese steel mills are asked to reduce production to improve air quality, especially those located in the northern region near Beijing. State media announced in late December that the annual parliament meeting, which is closely watched, will begin on?March 5th. The consultancy Mysteel said in a Wednesday note that several steel?mills have been told to start voluntarily production controls and reduce?blast furnace output by...

China's dominance in critical mineral supply chain is not as absolute it might appear. Cobalt is a good example. According to the International Energy Agency, China will account for 78% global refined production of battery metal by 2024. It lacks significant mining capacity and is therefore highly dependent on imported raw materials. The export controls of the Democratic Republic of Congo have exposed this vulnerability. This is the biggest source of cobalt products for Chinese processors. Congo suspended exports of cobalt in February and implemented a quota-based system in October. The fourth quarter of the year saw a near-standstill in...

Iron ore futures rose on Wednesday, as traders anticipated a pick-up in the 'feedstock demand' after the Lunar New Year holiday. However, an increase in incoming iron ore shipment may limit price gains. As of 0332 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange increased by 1.42%. It now stands at 752.5 yuan (109.51 dollars) per metric ton. The benchmark March Iron Ore?on the Singapore Exchange increased 1.98% to $98.55 a ton. After the Lunar New Year holiday, Chinese blast furnaces are expected to ramp up production. The broad-based metals rallies also helped to lift...

The copper price rose on Tuesday to its highest level in more than a month, fueled by a positive mood and a stronger demand from China, the world's largest metal consumer, after markets reopened following a holiday. Benchmark?copper for three months on the London Metal Exchange?had gained 2.4% by 1700 GMT to $13,182 per metric ton after reaching its highest price of $13,196 since February 12. LME copper fell 0.7% on Sunday, but has gained 22.5% over the last three months. However, it is still well below its record high of $14,527.50, set on January 29. Alastair Munro is a...

Nippon Steel decided to increase its convertible bond offering to 600 billion yen, the largest in Japan's corporate histories. The company is seeking to refinance their $15 billion acquisition of U.S. Steel as well as fund business expansion. The company announced on Tuesday it would increase the offering by 50 billion yen in total, in two equal tranches. This was based on the investor demand and the market conditions. It aims to invest 6 trillion dollars yen over the next five-year period, including an investment of $11 billion into U.S. Steel to fund growth. Nippon Steel increased the size of...

Glencore agreed to buy nearly 2,000 tons of cobalt from Rami Weisfisch, an industry veteran. The deal is a historic one. Two sources confirmed that the material, which is essential for defense and military gear, will be shipped to the United States to be included in its planned stockpile. The U.S. administration of President Donald Trump is actively seeking out critical materials, including cobalt, to reduce its dependence on China. China is the world's dominant supplier and processor for metals and minerals required by strategic industries. China has used its power to impose quotas, new regulations and ban the export...

The Dalian iron-ore futures fell on Tuesday in response to the drop in the 'Singapore iron-ore prices during the Lunar New Year holiday. However, a recovery in production and a fall in shipments are expected to support the prices. As of 0319 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange was trading 1.19% lower. It was 745 yuan (US$108.03) per metric ton. The benchmark March ore price on the Singapore Exchange rose by 0.89% to $96.7 per ton. Trading on the DCE, SHFE and Singapore Exchange ceased between February 16 and February 23 due to...

Prices of copper fell on Monday as inventories continued to rise. Investors were also unsure about the future of U.S. Tariffs and Chinese Trading ahead of reopening following a holiday. Benchmark three-month Copper on the London Metal Exchange fell 0.9% to $12,843 per metric tonne by 1700 GMT. It had earlier reached a session high of more than $13,050. LME copper is up about 3% in the last four sessions but still far below its record high of $14,57.50 on January 29, which was reached. The fact that there is more inventory outside the U.S. may be a little dampener...

The prices of copper, aluminium, and other base metals rose on Friday as the U.S. Supreme Court overturned sweeping tariffs that were imposed by President Donald Trump in accordance with a law meant to address national emergencies. London?Metal Exchange benchmark 3-month copper increased 0.8% to $12,917 per metric ton at 1720 GMT. It had previously reached $12,985.50, its highest level in a week. Aluminium also rose 1.2% to $3103.50. The ruling is "constructive" for base metals, as it reduces the near-term risk to global trade flows and demand. The upside will likely be limited, however, given that some sector-specific duties...

The Supreme Court of the United States ruled that the White House emergency tariffs were invalid. This was a victory for thousands of businesses. The refund process?has just begun. The court's decision could have a ripple effect on the global economy. It ruled that Donald Trump cannot use the 1977 International Emergency Economic Powers Act in order to levy a broad?tariff on imports. The corporate world spent months adapting to Trump's constantly-evolving policy on trade and his use of tariffs to advance his agenda. Not only to address trade issues, but also to act as a weapon against the policies...