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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.
The night view of Hong Kong Island and Kowloon, taken from The Peak in August 2025. Photo: Sam Tsang
Hong Kong economy

Letters | Amid elevated oil prices, Hong Kong’s stable energy system is a boon

Readers discuss the city’s electricity regime, the significance of Russian oil, and the KMT leader’s visit to mainland China.

China food security

‘Sharp swings’: why China is warning of food security risks despite bumper crops

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Business of climate change

Asia-Pacific firms face credit pressure from Iran war energy shock, S&P says

Malaysia

‘New normal’: Malaysia and Australia strike energy supply pledge amid Iran war

The deal creates a mutual spillover valve, allowing the partners to swap surplus energy once domestic demand is satisfied.

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Australian Prime Minister Anthony Albanese and Malaysian Prime Minister Anwar Ibrahim meet at a press conference in Putrajaya on Thursday. Photo: AAP/dpa
Hong Kong

Geopolitics to drive Hong Kong mining fundraising amid ‘supercycle’, experts say

Hong Kong could see more mining IPOs as global demand for resources accelerates, though national security issues may slow deals: experts.

China-Japan relations

The next frontier: China maps seabed resources as Japan races to tap rare earths

Atlas charts location, concentration and distribution patterns of dozens of elements in seabed sediments.

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China energy security

US officials claim China is ‘hoarding’ oil. What does the data say?

While US Treasury Secretary Scott Bessent said China is stockpiling crude amid the Iran war, the numbers suggest Beijing is facing a supply crunch.

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A woman walks past a giant billboard reading “The Strait of Hormuz remains closed” at Revolution Square in Tehran, Iran. Photo: TNS
Banking & finance

Editorial | Hong Kong has a gilt-edged opportunity to shine as gold trading hub

The rapid loss of confidence in the US opens the door for China and especially Hong Kong.

China-Latin America relations

China and the US want rare earths. Brazil will share – on one condition

Move comes as Washington locks US$565 million deal with Brazil’s only operating rare earth mine.

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US, Israel war on Iran

Asia’s energy supply at breaking point as US blockades Hormuz

Nearly 90 per cent of the region’s crude oil is now at risk as stalled peace talks and a naval stand-off raise the spectre of stagflation.

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A liquefied natural gas tanker is seen at a port in Yokohama, Japan’s Kanagawa prefecture, on April 8. Photo: AFP
China energy security

China turns to central Asia as US blockade in Hormuz chokes global energy flows

Chinese vice-premier to visit major gas field in Turkmenistan as Beijing aims to shore up energy security and diversify away from volatile maritime routes.

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In this 2013 image, President Xi Jinping stands alongside a model of the purification plant in Turkmenistan’s Galkynysh gas field during an opening ceremony. Photo: Getty Images
China trade

‘Cancelling orders’ in China: Hormuz oil crisis hits transport and manufacturing

Analysts and industry insiders say higher costs are squeezing margins, with some of China’s wary industrial heartland compelled to make day-to-day purchases.

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Hong Kong economy

Editorial | Hong Kong’s rare, speedy response to fuel price surge shows preparedness

The short-term diesel subsidies and toll cuts included in the government package are expected to cost HK$1.96 billion.

China inflation

China’s factory-gate prices rise for first time in 3 years as Iran war bites

The producer price index rose by 0.5 per cent in March, the first increase since 2022, as soaring global commodity prices affected Chinese firms.

A worker fills up a car at a petrol station in eastern China’s Shandong province. Photo: Getty Images
US, Israel war on Iran

Yuan tokens and oil-linked fees? China experts propose ‘innovative’ Hormuz tolls

Analysts warn Trump’s ‘joint venture’ plan with Iran could formalise grey zone, while Beijing balances roles as mediator, energy importer.

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Shipping vessels sit anchored in Muscat, Oman. The country, which shares control of the Strait of Hormuz with Iran, has no plans to impose fees on ships passing through the strait. Photo: Reuters
China trade

China enforces new supply chain security rules as Iran war shakes markets

The new regulation makes protecting China’s supply chains a national security issue – and allows Beijing to punish any entities that threaten them.

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Singapore

Singapore set to be hit by global energy crisis as it unveils countermeasures

Among the measures, the government announced an increase of US$155 to a cost-of-living cash payment to eligible Singaporeans.

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US Federal Reserve

Gold may reverse course once Iran war ends, Fed adopts policy easing

Gold has been on a wild ride this year, surging as much as 25 per cent before the war in Iran wiped out almost all the gains.

Customers look at gold jewelry at a store in Hangzhou, Zhejiang province, China on March 23, 2026. Photo: CFOTO/Future Publishing via Getty Images
US, Israel war on Iran

Macroscope | Why dollar and gold prices are looking abnormal amid Iran war

Two apparent anomalies stand out in recent market movements – the rising dollar and falling gold prices.

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US, Israel war on Iran

Helium supply shock threatens Asian chipmakers as economic slowdown fears mount

Iranian attacks on Qatar’s LNG facilities are curbing the supply of helium, a crucial gas used in chipmaking.

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Indonesia

Indonesia rebalances energy policy as Iran war spurs new projects

As oil prices surge, Indonesia aims to reduce its reliance on fossil fuels and intensify the use of crude palm oil for diesel blending.

Japanese Prime Minister Sanae Takaichi meets Indonesian President Prabowo Subianto in Tokyo on Tuesday. Prabowo has invited Japan to develop Indonesia’s nuclear and renewable energy. Photo: Kyodo
United States

US crude tops US$110, Wall Street falls after Trump vows more Iran attacks

Crude prices had been inching back towards US$100 per barrel before Trump’s Wednesday address in which he promised more strikes on Iran.

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A trader works on the floor of the New York Stock Exchange at the opening bell in New York on Thursday. Wall Street stocks tumbled early Thursday on the latest jump in oil prices as tough rhetoric between the United States and Iran reduced hopes of a Middle East war resolution. Photo: AFP
War and conflict

Opinion | Iran war is changing East Asia’s energy and strategic plays

States like China and Russia that can provide energy, industrial inputs, strategic reassurance or room for manoeuvre are gaining weight.

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US, Israel war on Iran

Trump’s ex-China mineral-alliance plan faces cost surge amid Iran war oil shock

Analysts say Middle East turmoil is elevating commodity input costs, affecting processing efforts and prompting push for ‘friendshoring’ to secure resources.

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China-Latin America relations

Brazil exporters bypass local banks to tap China’s US$1 trillion Sinosure fund

As Brazilian interest rates price out local lenders, Sinosure is quietly reshaping how Chinese goods reach the market.

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Brazilian importers buying from China are turning to the state-owned Chinese credit insurer, Sinosure, to sustain trade flows that reached US$158 billion in 2024. Photo: Shutterstock
Japan

Japan, France to draw road map for supply of critical minerals

It aims to lower their high dependency on China, which mines about 70 per cent of the world’s supply and refines some 90 per cent.

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French President Emmanuel Macron (left) and Japan’s Prime Minister Sanae Takaichi exchange documents during a signing ceremony at Akasaka Palace in Tokyo on April 1, 2026. Photo: AFP
China energy security

Australia and Japan face jet fuel supply crunch as China cuts exports

Both Australia and Japan are heavily reliant on Chinese jet fuel, but shipments have plunged in recent weeks amid the Iran war.

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US, Israel war on Iran

Video | Seoul residents hoard bin bags as oil shock deepens

Fears over supply disruptions tied to the Iran war have sent sales of Seoul’s mandatory trash bags soaring, prompting shops to ration sales.

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