East Asia

China has praised the visit by Canadian Prime Minister Mark Carney to Beijing on Thursday, calling it a "pivotal step" in efforts to recalibrate relations following months of intensive re-engagement. The remarks by China's top diplomat Wang Yi came during a meeting between Carney and his Canadian counterpart Anita Anand. Anita is a member of Carney's delegation on this first visit to Canada since 2017. Wang stated that this was the first time in eight years that the Canadian Prime Minister had visited China. This is a landmark and pivotal moment for our bilateral relationship. Wang said that China was...

By America Hernandez PARIS, January '14 - French giant TotalEnergies signed an agreement to sell its 10% non-operated stake in the Nigerian oil asset SPDC (renamed Renaissance JV) to Vaaris. This follows a failed sale to Mauritius based Chappal Energies last year. Total retains a 'full economic interest in the?deal, which includes stakes of three other licenses that produce mainly?gases for Nigeria LNG. The company did not provide any further information on the buyer. The inability of the buyer to pay the $860 million price tag was the reason why Nigerian regulators rejected Total's first deal with Chappal Energies for...

China's crude imports increased 17% in December compared to a year earlier, and total imports for 2025 will rise 4.4%. The daily volumes of crude oil imported in December 2025 and throughout the year will be at all-time records. According to the General Administration of Customs, the world's biggest crude importer imported 55.97 millions metric tons of petroleum in December. This is equivalent to 13,18 million barrels of oil per day. The increase was 10% compared to 50.89 in November. The data shows that China will import 557.73 millions tons of crude oil by 2025 or 11,55?million barrels per day,...

Customs data revealed that China's coal imports in December rose to a "record monthly high" due to winter stockpiling and rising domestic prices. According to the General Administration of Customs, imports in December reached a monthly record of 58.59?metric tons. This is a sharp rebound from'supply constraints caused by major exporters Indonesia Australia and Russia in November. Buyers stock up on coal in anticipation of the coldest months, when heating demand drives consumption higher. A government index also showed that domestic coal prices rose to nearly a year high by the end of November. This would have led buyers to...

Next week, business and political leaders will be attending the World Economic Forum’s annual meeting in Davos to test their vision of a global economic order based on rules. The expected appearance of U.S. president Donald 'Trump' in the Swiss resort shows the difference between his agenda, and the consensus-driven approach taken by the?the?WEF. This organization has been criticized for years as a talk shop for the rich. His "America First' policy has resulted in trade tariffs as punishment, military interventions in Venezuela, a threat to take over Greenland with force, and the U.S. retreating from international cooperation on climate...

Next week, business and political leaders will be attending the World Economic Forum annual meeting in Davos to test their?vision for a global economic order based on rules. The expected appearance of U.S. president Donald Trump in the Swiss mountain resort highlights the difference between his agenda, and the consensus-driven approach taken by the WEF. It has been criticized for years that the WEF is just a rich people's talking shop. His "America First' policy has resulted in trade tariffs as punishment, military interventions in Venezuela, threats to take over Greenland and a retreat by the U.S. from international cooperation...

Donald Trump, the U.S. president, said on Monday that any country doing business with Iran will be subject to a 25% tariff when it comes to trade with the U.S. According to the latest data from the World Bank, Iran, a?member? of the OPEC oil producing group, exported its products to 147 trading partner in 2022. Fuel is Iran's largest export item in terms of value. Major imports include intermediate products, vegetables, machinery, and equipment. China is Iran's biggest trading partner. According to the World Bank, Iranian exports to China in 2022 will total $22 billion, with fuels making up...

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 oil prices dropped on Tuesday as the market anticipated a large global supply in the face of a weak demand and weighed the possibility of a higher Venezuelan crude production following the capture of President Nicolas Maduro by the U.S. Brent crude futures dropped?0.2% or 14 cents to $61.62 a barge by 0450 GMT, while U.S. West Texas Intermediate Crude was at $58.13 a barge, down 0.3%, or 19 cents. Priyanka sachdeva, senior analyst at Phillip Nova, said that the response of oil prices to major geopolitical issues, like the U.S. action in Venezuela or the ongoing strikes against...

A blast at a steel 'plate factory in Inner Mongolia, China's northern region, killed four people and left six others missing on Sunday. CCTV reported that rescue efforts are underway. Inner Mongolia's?Baotou Steel Union?, whose subsidiary owned the factory, said in an earlier stock exchange filing that 84 people were injured by the explosion. The?steelmaker stated that the explosion of a saturated steam and water tank?at Baotou City unit?damaged?parts of?factory equipment and buildings. It was also expected to have an impact on production at the plate-mill and adjacent facilities. The company stated that it was still assessing?the extent of losses....

The copper price rebounded Monday, thanks to a lower dollar and better-than-expected data from China, the world's largest metals consumer. After two consecutive sessions of declines, the benchmark three-month 'copper price on London Metal Exchange rose 0.6% to $12,885 per metric ton at 1030 GMT. LME copper fell to a low of one week on Friday due to profit-taking, and worries about weak Chinese demand. It had fallen from its record high of $13,407 on Wednesday. The price of coal has risen 31% in the last six months on fears that shortages may occur this year due to mine disruptions....

Iron ore futures hit a two-week low on Monday as a number of data points from China, the world's largest consumer, highlighted the?persistent weakness? in the real estate market. This raised?concerns? about the?demand? for the steelmaking ingredient. The May contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading 2.58% lower, at 794 Yuan ($114.03) per metric ton. This was its lowest level since January 6. As of 0710 GMT the benchmark iron ore for February on the Singapore Exchange had fallen by 1.54% to $104.7 per ton. This was its lowest level since January 2. Official...

London and Shanghai markets have seen a surge in tin prices, which are now at all-time highs. According to the China Nonferrous Metals Industry Association, the rally is "unreasonable". Last month, it warned all parties to "avoid following trends blindly". Beijing's warning has not deterred Chinese traders from chasing prices higher and higher. On Thursday, the volume of trading in the?tin contracts on Shanghai Futures Exchange (ShFE) exceeded one million metric tonnes. This is more than double the annual global physical consumption. Tin is in a clear speculative boom, which will burst as soon as trends change. The mismatch between...

China's crude output of steel in 2025 will be below 1 billion tons, a record low. A prolonged downturn on the property market has hurt demand. Steel exports have risen to new records. National Bureau of Statistics data released on Monday showed that the world's biggest steel producer produced 960.81 millions tons of metal in 2025. This was the lowest level of production since 2018. This was a 4.4% decline from 2024. The Chinese steel industry has been struggling to make a profit since the second half 2022 due to the "persistent slowdown in the property market". Analysts said that...

The copper price fell to a new low of one week on Friday, mainly due to profit-taking following a rally driven by speculative fund managers. Meanwhile,?demand for physical copper in China was muted. Benchmark?three month copper on the London Metal Exchange fell 1.2% to $12,955 per metric tonne by 1100 GMT, after reaching its lowest level since January 9 at $12,774.5. Metal used in construction and power is down 5% from a record high of $13,407, reached on Wednesday. China's securities regulator, which is the world's largest metals consumer, has vowed to crackdown on excessive speculation following this week's near...

Copper prices dropped?on Friday, hitting their lowest level in a week. They were weighed down by rising concerns about demand in China's top consumer following?downbeat statistics and the absence rate cuts. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading session 2.26% lower, at 100,770 Yuan ($14.461.20) per ton. This is its lowest level since January 9. Benchmark three-month Copper on the London Metal Exchange fell 1.68% by 0723 GMT to $12,885.50 per ton, its lowest level since January 9. The dollar's strength contributed to a 0.6% decline in both benchmarks, which had gained ground earlier in...

The gold demand in India was muted as prices hit record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady before the Lunar New Year. Indian dealers offer a discount This week, official domestic prices will be up to $12 an ounce, including 6% import and 3% sales taxes, compared to the previous week's up to $6. On Friday, domestic gold prices were trading at around 142.800 rupees per 10 grams, which is not far off the record high reached earlier this week of 143.590 rupees. Chirag Thakkar is the CEO...

Copper prices fell Friday due to concerns about demand prospects in China, the top consumer, following a downbeat data and lack of rate cuts. However, the metal was still on track for a gain this week, thanks to a tight supply outlook. By 0226 GMT, the most traded copper contract at the Shanghai Futures Exchange had fallen 0.97%, to 102100 yuan (14,655.43) a metric ton. The benchmark three-month copper price on the London Metal Exchange fell 0.58%, to $13,029.5 a ton. The benchmarks are up around 0.5% this week. However, a stronger dollar has limited the gains. Copper prices are...

Chow Tai Fook Jewellery Group is China's largest jewellery retailer with thousands of shops across mainland China and Hong Kong. The group has begun to look further afield in search of new growth. It started?in Southeast Asia, with a brand-new store in Thailand. The company opened its flagship store at Bangkok's Siam Paragon, a luxury shopping and lifestyle center in Bangkok. This move is part a 'wave' of Chinese and Hong Kong brands moving abroad to offset slowing domestic demand and rising market saturation in the world’s second-largest economic powerhouse. Sonia Cheng said that the company's expansion abroad "sees strong...

Iron ore futures fell on Thursday, as the hot metal output in China's top buyer fell amid a slow return to production following the New Year holiday. The most-traded May iron ore contract at China's Dalian Commodity Exchange closed daytime trading 1.03% lower, closing at 813 Yuan ($116.63). The contract reached its lowest level since January 9, at 812 Yuan, earlier in the day. As of 0709 GMT the benchmark?iron ore for February on the Singapore Exchange had fallen by 0.97% to $107 per ton, after reaching its lowest level since January 7, at $106.95. According to data released by...

The price of copper peaked on Wednesday as global supply concerns, mounting geopolitical risk and a stronger dollar outweighed the pressure. The Shanghai Futures Exchange's most-traded contract for copper closed the daytime trading session 0.85% higher, at 104120 yuan per metric ton, after reaching an all-time record of 105650 yuan. The benchmark three-month copper contract on the London Metal Exchange rose 0.58% at $13,240 per metric ton as of 0743 GMT after hitting a record high earlier. The price of copper has been supported by "disruptions" at mines, concerns about deficits in this year and an influx of red metal...