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TOPIC

Commodities

Commodities
Commodity market action from around the world with a focus on the commodities that matter most to investors in Hong Kong and China.
Large piles of bauxite ore, which is refined into aluminum, sit at a treatment area storage in Guinea. Photo: Shutterstock
China-Africa relations

How Africa is becoming a ‘strategic hub’ for Chinese industrial expansion

Countries including Zimbabwe and Guinea are ending the pit-to-ship model that saw them exporting raw minerals with limited local gains.

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Gold in Hong Kong

Why Fed moves trump geopolitical risks, China gold buying in analysts’ forecasts

China-Japan relations

China detains Japanese executives in dual-use technology export probe: report

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China stock market

Gold breakout rally sends Chinese bullion stocks near record highs

Sovereign-debt risks and reserve diversification seen helping revive investor optimism in the precious-metals market.

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The price of gold rose 1.3 per cent to US$4,479 an ounce on Tuesday. Photo: Shutterstock
United States

Trump extends Jones Act waiver for 90 days, narrows scope

The extension ensures the US military and key industries maintain uninterrupted access to critical resources, the White House said.

Rare earths

Despite global tensions, China’s rare earth producers have profitable first half

Rapid expansion of AI supply chain has given rare earth prices a strong upwards trajectory, analyst says.

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China trade

Lab-made diamonds ride AI demand for chip cooling as China leads industrial boom

Exports surge in first half of year, as the superior heat dissipation of diamonds expands market beyond jewellery, positioning China for further growth.

A worker checks a diamond at a facility in China’s Henan province. Photo: Xinhua
China trade

July trade robust, fresh Chinese sanctions, Unitree IPO opens

This week: July trade growth moderates, Beijing retaliates against US sanctions and services activity growth slips. Next week: Subscriptions start for Unitree IPO, Tencent and Chinese chipmakers report interim earnings, July factory gate prices and more.

Gold in Hong Kong

Gold’s price potential still ‘explosive’ amid Beijing hoarding

Rising demand from central banks to drive a rebound despite temporary downside pressure from energy and interest rates, Goldman Sachs says.

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US-China trade war

Copper floods US as traders anticipate Trump tariffs while ‘Taco’ concerns loom

Traders ship more than 200,000 tonnes of the industrial metal into American ports in July to front-load anticipated levies, as fears of policy reversal persist.

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Employees wind copper rods at a workshop that recycles copper in China’s Anhui province. Photo: AFP
China-Latin America relations

Cuban spy-base allegations, new Trump tariffs: 7 Latin America relations reads

From global soybean market updates to China’s best trade partners, here are highlights from the SCMP’s foreign correspondents in July 2026.

The Havana Capitol is seen reflected in a puddle on July 11. Photo: AFP
Mainland China

China’s commodities footprint guards against global energy shocks: Goldman Sachs

Analysts at investment bank say Beijing has become de facto ‘volatility arbiter’ for global commodity markets.

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High Jewellery

How high jewellers turned to other metals in response to pricey gold

Designers like Cora Sheibani, Joy Bonfield-Colombara and Inesa Kovalova are exploring the properties and potential of various metals.

Gold in Hong Kong

HK’s gold imports set to rise after hitting 11-year high last month: analysts

Investor appetite, international precious metals trading hub ambitions drive growth as imports hit highest volume since late 2014.

Gold bars: Photo: Shutterstock
China trade

China wants unique access to minerals with Indonesia offer, analyst says

Beijing may attempt to trade manufacturing assistance for access to Indonesia’s vast, export-restricted reserves.

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A nickel mining site in Raja Ampat, West Papua, Indonesia. Photo: AFP
China trade

China’s durian imports from Thailand, Malaysia soar as glut stresses growers

Chinese imports of the pungent fruit have increased by 47 per cent in the first half of 2026, prompting a sharp decline in prices.

Banking & finance

What are ‘climate black swan’ events, and why are global investors so worried?

As the threat of a super El Nino disrupts Asia’s food market, global banks warn investors to prepare for sudden, unexpected climate shifts.

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US, Israel war on Iran

Red Sea shutdown risk looms as US-Iran tensions threaten another oil surge

Tehran puts Houthi militants on notice to close critical shipping lanes, threatening a fresh supply shock as Brent crude notches 21 per cent rally since early July.

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This July 2025 handout image shows a Liberia-flagged bulk carrier being attacked by Houthi fighters at sea. Attacks by Yemen’s Houthis have prompted many freight companies to detour around southern Africa to avoid the Red Sea. Photo: AFP
Banking & finance

China’s resources deals turn gold mines into – gold mines

Chinese gold producers, after a buying spree for mines abroad, are cashing in as the metal’s price goes sky-high.

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China trade

China’s imports from Africa surge after Beijing expands zero-tariff policy

China’s growing hunger for critical minerals partly drove the increase, but the tariff reduction is also fuelling trade in several new sectors.

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Hong Kong economy

Opinion | Connect scheme for gold shines light on China’s financial liberalisation

The Connect model has evolved from isolated reforms into a blueprint for China’s financial opening up, with Hong Kong as the bridgehead.

Pan Gongsheng, governor of the People’s Bank of China, delivers a keynote speech at the Hong Kong FIC & Bond Connect Summit at JW Marriott Hotel in Admiralty on July 7. Photo: Sun Yeung
Energy

Blockbuster earnings: how China’s lithium giants are cashing in on energy race

Soaring profits at Tianqi and Ganfeng highlight how global demand for energy independence is powering China’s lithium edge.

Tianqi Lithium's processing plant for lithium in Chile. Photo: AFP
Artificial intelligence

Macroscope | Don’t expect the rising tide of AI to lift all boats

While economies linked to hi-tech supply chains may perform well, unequal outcomes and economic instability still loom for much of the world.

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China trade

China issues temporary helium export ban as Iran war strains global supplies

The ban on shipments of the gas, a crucial raw material in semiconductors and other sectors, comes as Middle East conflict strains global supplies.

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China’s private sector

Chinese firms look to strike gold in a volatile global metals market

Futures brokerages and exchanges aim to grow their market footprint and offer more efficient hedging tools in the global commodity market.

Traders, brokers and clerks gesture on the trading floor of the open outcry pit, also known as The Ring, at the London Metal Exchange Ltd (LME), on March 11, 2025. Photo: AFP
Banking & finance

Editorial | Gold, bond push boosts Hong Kong’s role in nation’s financial future

At a time of increasing global instability, Beijing needs to be a financial powerhouse to protect itself and others.

Hong Kong Chief Executive John Lee delivers a speech at the Hong Kong FIC & Bond Connect Summit at the JW Marriott Hotel Hong Kong, in Admiralty, on July 7. Photo: Sun Yeung
Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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Gold in Hong Kong

Hong Kong inaugurates trial operation of gold clearing and settlement system

Chief Executive John Lee announces ‘milestone’ for city’s gold trading ecosystem at Hong Kong FIC & Bond Connect Summit.

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