East Asia

Luxcara, a German company, said Monday that it could switch to Siemens Gamesa wind turbines for the 300 megawatt Waterkant Wind Farm. This would mean scrapping an agreement with a Chinese firm which had attracted political scrutiny and criticism by European turbine manufacturers. Luxcara, an asset manager based in Hamburg, has reserved 19 Siemens Gamesa wind turbines. Siemens Gamesa is a subsidiary owned by Siemens Energy of Germany. The same type was already purchased for the 1.5-gigawatt Waterekke Project, the largest offshore wind project ever undertaken in the German North Sea. The turbines would be replacing the ones that Ming...

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion variants in today's electric vehicle market. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by car manufacturers as they weigh...

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion EV variants. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by carmakers as they consider long-term solutions. Use in batteries...

Sinopec Shanghai Petrochemical Co reported a net loss for the first six months of 2025 due to lower demand in refining products and chemical products. According to the report, Sinopec posted a net loss between January and June of 462.1 millions yuan (64.40million dollars). This compares to a profit of 27.9 millions yuan the previous year. Net sales fell 10.66%, to 33.498 billion Yuan, while sales of chemicals and refining products were down 16.14% and 3.21 %, respectively. The company stated that the market is still challenging with a strong supply and a weak demand. New-energy vehicles are increasing in...

Officials from the South Korean government announced on Wednesday that ten petrochemical firms have agreed to restructure operations and reduce their capacity to crack naphtha. The South Korean government is putting pressure on the petrochemical industry, which it claims is "in crisis", to accelerate restructuring in order to increase efficiency and boost margins. At a meeting with the Minister of Trade, Industry and Energy Kim Jung Kwan, executives from the companies signed a restructuring agreement that was industry-wide. According to the industry ministry, companies have agreed that they will reduce their annual capacity for naphtha cracking by between 2.7 and...

Peter Navarro, White House's trade adviser, said that India's purchases were funding the war in Ukraine by Moscow and must stop. He added that New Delhi is "now cozying up with both Russia and China." Navarro, in a recent opinion piece, wrote: "If India wishes to be treated like a strategic partner by the U.S. it must act as such." Published by: Financial Times. India's Foreign Ministry said that the country was unfairly singled-out for purchasing Russian oil, while the United States continues to buy goods from Russia. U.S. president Donald Trump imposed an additional 25% tariff on Indian products...

After a decline in the early trading, oil prices remained largely unchanged Monday as the United States did not exert any further pressure on Russia for it to end the Ukraine War by disrupting its oil exports after a meeting between the leaders of both countries. Brent crude futures fell 6 cents or 0.09% to $65.79 per barrel at 0342 GMT, while U.S. West Texas intermediate crude rose 2 cents or 0.03% to $62.82 per barrel. The U.S. president Donald Trump met with Russian President Vladimir Putin on Friday in Alaska and came away more aligned to Moscow regarding the...

The oil prices fell on Monday, as the U.S. failed to exert further pressure on Russia in order to end the Ukraine conflict by implementing additional measures to disrupt Russian crude exports following the Friday meeting between the presidents of both countries. Brent crude futures fell 26 cents or 0.39% to $65.59 a bar by 0028 GMT, while U.S. West Texas intermediate crude was down 18 cents or 0.29% at $62.62 a bar. The U.S. president Donald Trump met with Russian President Vladimir Putin on Friday in Alaska and came away more aligned to Moscow regarding the need for a...

U.S. president Donald Trump said that he would not be negotiating on behalf of Ukraine during his meeting with Russian President Vladimir Putin last Friday and would allow Kyiv to decide whether it would engage in territorial exchanges with Russia. Trump stated that his goal was for the two sides of the conflict to begin a dialogue, and any territorial swaps would be discussed at this time. "They will be discussed but I have to let Ukraine decide, and I believe they will make the right decision." "I'm not here for Ukraine to negotiate, I'm there to get them to...

Multiple sources confirmed on Friday that China's Changyi Petrochemical (recently sold by the state-owned Sinochem Group) has been granted a crude oil import quota until 2025. The company used this quota to purchase Brazilian oil. Three sources confirmed that the refiner in Shandong was allocated 2.5 million metric tonnes (18 million barrels), on a prorated scale, for the rest of the year. The sources claim that Changyi has a right to 5,000,000 tons for a whole year. Changyi declined comment. Hongrun declined to comment on a phone conversation, and the company didn't immediately respond to e-mail requests. The Commerce Ministry,...

Empresas Copec, a Chilean conglomerate of industrial companies, reported a 21% decline in its second-quarter profits despite revenue exceeding expectations. The forestry giant is facing falling pulp prices as well as trade war impacts due to the U.S. and China. The net profit for the quarter ended June was $228 million, which is in line with expectations of LSEG's analysts. Revenues were down 1% at $7.18 billion. The revenue of Copec, the owner of a large forestry company, as well as fuel distribution and mining operations, was higher than analysts' estimates at $6.84 billion. Copec attributes the drop in sales...

Donald Trump stated on Thursday that, he believes that Russian President Vladimir Putin is willing to make a deal and that sanctions against Russia played a part in Moscow wanting a meeting. Trump is scheduled Meet Putin on Friday in Alaska. The U.S. President said that he was unsure if an immediate ceasefire could be achieved, but expressed his interest in brokering peace agreements. "He really, I think now, is he convinced that he will make a bargain, he will make a bargain." Trump told Fox News Radio that he believes he will, and they would find out. Early in...

Hong Kong Census and Statistics Department figures released on Tuesday showed that China's net imports of gold via Hong Kong increased 126.81% from June. Why it's important China is the largest gold buyer in the world. Its buying activities can have a significant impact on global gold markets. Hong Kong's data might not be a complete view of Chinese gold purchases as it is also imported through Shanghai and Beijing. By the Numbers The net imports from Hong Kong into China in July totaled 43.923 tons, up from 19.366 tons for June. China's total imports of gold via Hong Kong...

An official announced on Tuesday that the Indonesian sovereign fund Danantara would invest in developing a nickel-processing hub with Chinese battery recycler GEM. The funds, which total $8.3 billion, will be available for investment by 2025. Danantara will be making its first venture into Indonesia's nickel sector, which is crucial to the country. The government wants to capitalize on the vast amount of nickel in the country that's used for electric vehicle batteries. Indonesia is the largest nickel producer in the world. In an interview, Pandu Sjahrir, the investment chief of the fund said that they had just signed a...

India's Foreign Ministry said that the Quad Group of countries was important to India and Japan, especially in relation to critical minerals. The ministry also stated that the two prime ministers would be discussing the grouping during this week. The Indian Prime Minister Narendra Modi will visit Japan from August 29-30 to attend the 15th India Japan Annual Summit. He will also hold discussions with his Japanese counterpart Shigeru ishiba. Modi will fly to Tianjin, a Chinese port city on the coast of the Pacific Ocean for the Shanghai Cooperation Organisation Summit (SCO), which takes place between August 31 and...

The price of iron ore futures was subdued Tuesday as new tariff threats by U.S. president Donald Trump fueled concerns about demand prospects. After touching its highest level since August 14, the most-traded contract for January iron ore on China's Dalian Commodity Exchange closed daytime trading 0.7% lower at 776.5 Yuan ($108.56). As of 0654 GMT, the benchmark September iron ore traded on Singapore Exchange was down by 0.93% to $102.3 per ton. Trump stated on Monday that China must give magnets to the United States or "we will have to charge them a 200% tariff" or something similar, amid...

The price of iron ore futures was subdued Tuesday as new tariff threats by U.S. president Donald Trump fueled concerns about demand prospects. As of 0159 GMT on China's Dalian Commodity Exchange, the most traded January iron ore contract was unchanged at 782.5 Yuan ($109.40), after reaching its highest level since August 14, on Monday. As of 0149 GMT, the benchmark September iron ore price on Singapore Exchange was down by 0.45% to $102.8 per ton. Trump stated on Monday that China must give magnets to the United States or "we will have to charge a 200% tariff" or something...

Kevin Hassett, White House economist and CNBC interviewee on Monday, said that the federal government could invest in other U.S. companies involved in semiconductors or even other industries. Hassett asked if this deal with Intel was part of a bigger effort by the U.S. Government to acquire equity stakes in industries it supports. He also said that there may be other transactions similar. The National Economic Council Director told CNBC, "I believe this is a special circumstance due to the huge amount of CHIPS Act expenditures that Intel was receiving." "But, the president made it very clear from the beginning...

The iron ore futures reached a new high of one week on Monday, as Rio Tinto suspended its Simandou project after an incident. This heightened fears about a possible delay in the start of production at the mine. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 2.27% higher, at 787 Yuan ($110.06), its highest level since August 14. As of 8:10 GMT, benchmark September iron ore traded on the Singapore Exchange was up 2.69% at $103.3 per ton. This is the highest price since August 14. Rio Tinto, world's biggest iron ore mining...

Gold fell on Monday, from a two-week high as the dollar crept up. However, increased expectations of U.S. rate cuts after Federal Reserve Chair Jerome Powell’s dovish turn last week gave some support to gold. As of 0256 GMT spot gold was down 0.2%, at $3,364.29 an ounce. It had reached its highest level since August 11, on Friday. U.S. Gold Futures for December Delivery eased by 0.3% to $3.409.60. After dropping to its lowest level in four weeks, the U.S. Dollar Index rose by 0.2% versus its rivals. This made gold less appealing to foreign buyers. Matt Simpson, senior...

Shanghai copper prices reached a one-week high Monday. This was due to a weakening of the U.S. Dollar after the U.S. Central Bank chief hinted that rates would be cut, and the fact that demand from China's top metals consumers remained positive. As of 0135 GMT, the most traded copper contract at the Shanghai Futures Exchange had risen 0.6% to 79.190 yuan a metric ton. The contract had reached a previous high of 79.320 yuan - the highest level since August 14. The U.S. Dollar tried to recover on Monday from a four week low against the euro, after a...

The copper price rose for the third time in a row as China, the world's largest metals consumer, remained strong and investors hoped that a speech from U.S. Central Bank chief John Williams would indicate interest rate reductions. The benchmark three-month copper price on the London Metal Exchange rose 0.2% to $9,745 per metric ton. This is down from a high of $10,020.50 reached on July 2. It was its highest in more than three months. The Chinese demand for the metal remains healthy, according to Nitesh Sha, a commodity strategist with WisdomTree. Last month, U.S. president Donald Trump imposed...

Iron ore futures slid on Friday as they extended their weekly losses for a second consecutive week. Steel margins and input costs were pressured by rising steel production despite the sluggish Chinese demand. The January contract for iron ore most traded on China's Dalian Commodity Exchange was 0.71% lower, at 770 Yuan ($107.25). This week, it fell by 0.97%. As of 0717 GMT, the benchmark September iron ore traded on the Singapore Exchange fell 0.71%, to $100.45 per ton. This is a loss of 1.42% this week. Atilla Winnel, Navigate Commodities' managing director in Singapore, said that the latest weekly...

This week, physical gold demand remained low in major Asian hubs as volatility in prices kept buyers away. However, jewellers in India recommenced purchases in advance of the festival season. The price of gold in India was around 99,300 rupies ($1,135.77) for 10 grams last Friday, after reaching a record-high of 102 250 rupies earlier this month. Jewellers have started to buy again after a price drop, as they are more confident of the festival demand. In October, Indians celebrate Dussehra (Diwali) and Diwali (Diwali), when gold is considered auspicious. Indian dealers quoted between a discount and a full price...