Commodities (Crude Oil & Copper) & Macro Outlook

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

TotalEnergies Services halted its U.S. well services business in January 2026, with the majority of operational equipment sold by February, according to the company. The move reflects ongoing global uncertainty and commodity price volatility that have dampened drilling and completion activity in

According to Reuters, Suncor Energy's Commerce City refinery in Colorado experienced an unplanned shutdown on Monday due to a third-party power outage. The facility, which has a daily production capacity of 98,000 barrels, is currently undergoing startup operations. The Colorado Department of

eToro's crypto revenue dropped to $2.15 billion in the first quarter of 2026, down from $3.5 billion in the same period last year, according to the brokerage's financial statement published on Tuesday. The decline reflects a broader slowdown in crypto activity, with the total number of trades down 3

U.S. heating oil inventories fell 116,000 barrels in the week ended May 8, according to API data. This compared to a decline of 473,000 barrels in the prior week.

According to API data, U.S. refined product imports declined to -317,000 barrels per day for the week ended May 8, compared to 265,000 barrels per day in the prior week.

According to API data, U.S. crude oil imports for the week ending May 8 reached 337,000 barrels, up from negative 144,000 barrels in the prior week.

According to API data, U.S. crude oil inventories at Cushing fell by 1.755 million barrels in the week ending May 8, compared to a decline of 1.045 million barrels the prior week.

According to the American Petroleum Institute, U.S. crude oil inventories declined by 2.188 million barrels last week, compared to a decline of 8.141 million barrels in the previous week.

According to the American Petroleum Institute (API), U.S. refined oil inventories fell by 319,000 barrels through May 8, significantly lower than the expected decline of 2.995 million barrels and the prior week's drop of 4.642 million barrels.