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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.
A trader works on the floor of the New York Stock Exchange on Monday. The Nasdaq-100 Index hit a record high on Tuesday. Photo: EPA
China stock market

AI trade rallies on falling oil and Meta’s Muse agent ahead of Xi-Trump meeting

Nasdaq-100 hits record high while chip stocks in China and South Korea rebound, with investors betting that AI earnings can weather higher interest rates.

World Gold Council

As China’s consumption of gold jewellery slumps 34%, sellers pivot abroad: WGC

China energy security

China’s crude imports are rising again. What will that mean for oil prices?

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Banking & finance

How will Hong Kong’s new 5-year plan court global capital?

Expanded investment products and stronger mainland-market links aim to deepen Hong Kong’s wealth-management edge and lure more international investors.

While much of the world’s gold trading still clears through London, Hong Kong is building a regional alternative. Photo: Dickson Lee
Gold in Hong Kong

Exchange Fund may buy more gold to support Hong Kong’s trading hub ambitions

A larger allocation to precious metals could improve diversification and align with the city’s gold hub strategy, says HKMA’s Eddie Yue.

Gold in Hong Kong

Gold rebounds after Fed rate rise as banks back long-term demand outlook

Investment banks say central bank purchases and demand from China and India should support bullion prices.

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John Lee policy address 2026

Hong Kong targets gold trading, FPS-UnionPay link to boost yuan use

‘We will consolidate and enhance Hong Kong’s status as an international financial centre,’ John Lee says.

The HKMA will promote linking the Faster Payment System with mainland China’s bank card and payment system UnionPay by the end of the year. Photo: Nora Tam
Hong Kong economy

Hong Kong to woo finance and tech firms with new tax breaks

Chief Executive John Lee says Hong Kong aims to attract more commodity traders to set up or expand their businesses in city.

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China energy security

China’s oil demand could falter as Saudi pipeline shutdown raises costs

Supply relatively insulated in short term, but refiners could cut run rates amid rising crude prices, freight costs, analysts say.

US-China relations

J.D. Vance group courted Brazil opposition candidate for anti-China deal: report

Senator’s logo appears on a plan to trade rare earths and position against Beijing in exchange for support on his presidential bid.

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Senator and right-wing presidential candidate Flavio Bolsonaro is seen during a rally in Brazil on August 17. Photo: AFP
China consumption

Gold jewellery loses its lustre as Chinese switch focus to bars and coins

High prices and decline in marriages cited as reasons for one-third drop in jewellery sales in first half of year.

Gold bars at a precious metals dealership in Munich, Germany. Photo: dpa
US-Venezuela conflict

Opinion | Trump’s Venezuela oil deal: why China can wait and watch

Beijing’s response reflects a calculation that the deal’s fragility will soon show. Energy dominance is not seized by executive order – it is earned through capital, technology and time.

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London Metal Exchange

Copper rally sets record LME price as US tariff fears fuel supply ‘scramble’

Inventories of the metal are diverging across major exchanges as AI infrastructure build-up spurs demand and potential trade restrictions keep prices elevated.

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Energy

Oil prices near US$100 a barrel as Saudi oil facility attack raises supply risk

Geopolitical tensions and strikes on energy infrastructure are tightening supply expectations, threatening to push oil higher and curb China’s appetite for imports.

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The price of diesel is displayed at a petrol station in New York on Friday. The national average price of retail diesel hit a record high on Thursday as the cost of crude oil rebounded. Photo: Xinhua
Banking & finance

Can China bring in more bullion as central banks shift gold reserves from US?

Geopolitical tensions and US dollar concerns have seen Shanghai and Hong Kong step up efforts to build gold storage infrastructure.

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Gold bars. Photo: Handout
China food security

A potential food crisis threatens the world, but impact on China may be limited

El Nino fears and disruptions to Ukraine’s grain exports are driving up global crop prices, but China’s robust supplies temper the impact.

US Federal Reserve

Bullish chorus grows: Wall Street backs gold despite US job growth, hawkish Fed

Record buying spree by central banks offsets Fed tightening fears, pushing gold towards US$5,000 by year-end, investment banks forecast.

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Gold in Hong Kong

How Hong Kong can cash in as reserve managers rethink where to store gold

City in race to lure bullion custody as geopolitical risks intensify scrutiny of gold storage, Goldman Sachs report says.

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Where central banks store gold appears increasingly a growing priority for reserve managers, according to a Goldman Sachs report. Photo: Getty Images
Investing

Why younger investors worldwide are stashing physical gold despite price swings

Gen Z buyers are driving demand for bullion, spurred by geopolitical tensions, inflation and the appeal of owning gold outright.

US-Venezuela conflict

‘Direct hit’: China dealt blow as US-backed firm takes over Venezuelan oilfields

Venezuela was the biggest recipient of China’s lending to Latin America, and Beijing is unlikely to recover debts, one analyst says.

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China trade

China discovers major copper and gold deposit in Anhui province

Ministry of Natural Resources says Chating deposit could contain more than 1 million tonnes of copper and 200 tonnes of gold.

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China has discovered a major copper and gold deposit in Xuancheng, Anhui province. Photo: CCTV
Indonesia

Orangutan rescued from Borneo fire battles respiratory illness

Indonesia has intensified efforts to contain forest and land fires across six provinces in Borneo and Sumatra.

Veterinarians treat an orangutan named Sampurna during a rescue operation at a palm-oil plantation near an area affected by wildfires, in Kuala Satong village, Ketapang regency, West Kalimantan province, Indonesia, on Sunday. Photo: Reuters
China-Africa relations

Truce in DR Congo offers US mining foothold while Chinese firms dominate output

Washington could secure access to crucial eastern coltan deposits, though analysts say Beijing’s entrenched infrastructure leaves American investors trailing.

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China food security

China must ‘take all necessary measures’ to secure autumn harvest: Li Qiang

During an inspection tour in northeastern China, Premier Li says advanced tech can protect crop yield.

China’s Communist Party

In Focus | Why China’s mineral hubs and border regions face heaviest anti-corruption toll

China’s past CCDI annual plenums stress intensifying efforts to combat corruption where ‘power, funds and resources are concentrated’.

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Illustration: Henry Wong
China's economic recovery

China’s steel sector must avoid US rust belt’s fate: party journal

Trade barriers, oversupply and falling export prices are squeezing steel producers as the Qiushi Journal warns against letting the industry contract.

A worker polishes a steel bicycle rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province. Photo: Reuters
US Federal Reserve

US Treasury bond buy-back reinforces gold debasement trade ahead of Jackson Hole

Treasury buy-backs bolster gold’s rally as investors await US Federal Reserve’s annual meeting at Jackson Hole.

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Indonesia

Indonesia takes on Malaysia in battle over palm oil pricing

Palm oil is just the start. Indonesia’s new trade exchange also aims to oversee nickel and coal export volumes, prices and taxes.

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