Commodities (Crude Oil & Copper) & Macro Outlook

According to Hong Kong Exchanges and Clearing CEO Vera Chen, the London Metal Exchange's approved warehouses in Hong Kong have expanded from 4 to 15 since last year, with storage capacity approaching saturation. Chen stated during an LME Asia Week seminar that the expansion represents a

According to the Japan Petroleum Association (PAJ), Japan's commercial crude oil inventories declined by 275,467 thousand liters to 8,409,487 thousand liters for the week ending May 9, compared with 8,684,954 thousand liters in the prior week. PAJ's refinery operating capacity utilization (BPSD)

According to Saudi Aramco CEO Amin Nasser, WTI crude futures climbed above $99 per barrel on Tuesday as geopolitical tensions escalated over Strait of Hormuz closure risks. President Trump rejected Iran's latest peace proposal, citing concerns that the ceasefire agreement is "in jeopardy,"

According to Jin10 data, on May 13, truck drivers in India faced severe fuel supply challenges, with one coal truck driver traveling nearly 80 kilometers and checking 15-16 fuel stations without finding diesel. The driver was eventually forced to stop as the fuel tank ran nearly empty. A fuel statio

According to Glontech, lithium carbonate futures fell over 4% intraday on May 13, dropping to 197,520 yuan per ton. The contract had risen nearly 2% earlier in the session before reversing course.

根據 CommBank 報道，5/13美股走勢分歧，Nasdaq 下跌0.7%至26,088.20，S&P 500 下跌0.2%，道瓊微升；布蘭特油價上漲3.4%至107.77美元。AI 概念股回落，Intel、Micron、CoreWeave跌幅居前，亞洲股市亦受拖累。美伊衝突升級推高油價，4月通膨超預期，市場預期美聯儲12月前升息機率超過三分之一。海外股市多數下探，日經小幅走高。

According to Shanghai Steel Union, battery-grade lithium carbonate (MMLC) midprice reached 201,350 yuan per ton this morning, up 1,900 yuan from the previous day's 16:30 closing price.

According to Jin 10 Futures, as of 09:30 Beijing time on May 13, WTI crude oil futures fell 0.69%, while U.S. natural gas futures declined 0.70%.

According to Jin 10 Futures, London three-month nickel closed lower on May 13, settling at $18,955 per ton with a decline of 1.6%. China's Shanghai nickel futures also retreated, closing at 145,650 yuan per ton, down 0.88%. Market sentiment remained pressured as geopolitical tensions

China's domestic futures opened with mixed performance this morning (May 13), with low sulfur fuel oil (LU), SC crude oil, and liquefied petroleum gas (LPG) rising over 2%, while metallurgical coal dropped over 3% and coke fell over 2%. International copper and fuel oil gained over 1%, synthetic

The Shanghai Containerized Freight Index (Europe route) main contract climbed over 3% today, closing at 2536.0 points.

China's Containerized Freight Index Europe route main contract rose 58.5 points intraday today to 2,520.0, gaining 2.38%.

美4月CPI較預期上升，環比0.6%、同比3.8%，能源壓力主因。油價走高推升通脹，Fed12月加息機率逾30%，Warsh正式任理事。路透稱沙特對伊朗有秘密打擊，局勢持續緊張。美股收盤：S&P-0.16%、Nasdaq-0.71%、Dow+0.11%。

WTI crude oil declined over 1% during intraday trading on May 13, currently trading at $101.25 per barrel.

According to CITIC Securities research, metal sector performance diverged in 2025 and early 2026, with tungsten, lithium, lead-zinc and rare earth magnets leading gains, while aluminum, copper, nickel, cobalt, tin, antimony and gold lagged. Current valuations remain reasonable, with aluminum, copper

According to Golden Bull Futures, PTA spot prices in East China are expected to trade in the range of 6560-6660 yuan/ton on May 13, pressured by weak industrial demand despite crude oil's three-day rally.

According to a CITIC Securities report, U.S. inflation remained elevated in April, with rental cost increases pushing core inflation higher amid ongoing Middle East tensions. The bank noted that high inflation continues to erode household purchasing power, with low-income families facing sharper cos

According to the U.S. Department of Agriculture supply and demand report, CBOT soybean futures closed up 1% on Tuesday (May 12), with the benchmark contract gaining strength on supportive supply and demand data. The USDA's monthly forecast showed new-crop soybean production at 4.435 billion

According to Goldman Sachs, the U.S. dollar will strengthen further in the near term as energy price shocks keep yields elevated while economic growth remains resilient. The combination of rising inflation and growth resilience means interest rates will remain "higher-for-longer," according to Goldm

According to China Securities Journal, egg futures and spot prices have rebounded over 15% cumulatively since April 9, as of May 12. The rally reflects multiple factors including increased demand, tightening supply, and low inventory levels. Industry analysts note that while egg supply is expected t