Commodities (Crude Oil & Copper) & Macro Outlook

According to China's Foreign Ministry spokesperson Guo Jiakun, the government responded yesterday to reports that Chinese citizens have been taken measures against for suspected violations of rare earth export regulations. Guo stated that China handles cases in accordance with law and regulations, a

According to MoneyDJ, on July 2, South Africa's Steenkampskraal Monazite Mine announced the resumption of high-purity mixed rare earth production, becoming Africa's first facility with this capability. The mine holds reserves valued at approximately $2 billion (330 billion South African rand). The f

According to Jin10 Data, Chinese Commerce Ministry spokesperson He Yadong responded on July 2 to questions about reducing tariffs on U.S. agricultural products during a regular press briefing. The ministry stated that agricultural trade is an important part of China-U.S. economic and trade

According to Shanghai Futures Exchange (SHFE) data reported by Jin10 on July 2, pulp futures warehouse inventory rose to 276,569 tons, up 3,380 tons compared to the previous trading day. Stone oil bitumen (asphalt) factory inventory decreased by 500 tons to 17,970 tons. Other tracked commodities

According to CCTV News, U.S. Vice President Vance said on June 30 that the Strait of Hormuz is currently open with increased oil transit volumes, noting that transit on some days exceeded pre-conflict levels. Vance stated that the U.S. has achieved significant military results in its operations

According to UBS, the bank lowered its 2026 Brent crude price forecast to $84 per barrel from a prior estimate of $93 per barrel, a downward revision of $9 per barrel. For 2027, UBS cut its oil price outlook from $85 per barrel to $75 per barrel.

China's crude oil 2608 futures contract declined 6.02% intraday on July 2, with prices dropping to 432.7 yuan per barrel. Trading volume exceeded 26.4 billion yuan, and open interest increased by nearly 2,300 contracts as market volatility

According to Zhu Chuang Information, refined oil retail prices are expected to decline by 855 yuan/ton when the pricing window opens on July 3, 2026. The crude oil change rate stood at -19.31% as of July 1, driven by improved Middle East relations following a U.S.-Iran understanding. This marks the

According to Guru Club, Robinhood on July 2 expanded its perpetual futures offering in Europe to include commodities, ETFs, and forex markets beyond cryptocurrencies. Eligible European investors can now trade perpetual futures linked to gold, silver, crude oil, and EUR/USD pairs with leverage up to

According to Shanghai Steel Union, MMLC battery-grade lithium carbonate's midpoint price hit 162,350 yuan per ton in early trading today, up 1,000 yuan per ton from July 1 at 4:30 p.m.

According to Trump, indirect U.S.-Iran talks in Doha have progressed well over the past week, with both sides reaching a preliminary agreement to release $3 billion in frozen Iranian funds, easing market concerns over Middle East supply disruptions. Hormuz Strait vessel traffic has resumed, reaching

According to Jin10, the U.S. June nonfarm payroll data will be released early today, July 2, at 20:30 Beijing time, due to the Independence Day holiday on July 3. The U.S. stock market will be closed on July 3. Commodity Futures Trading Commission (CFTC) regulated markets, including CME precious

Australia's exports declined 6.9% in May, reversing the previous month's 7.2% growth, according to official trade data.

Bitcoin (BTC) makes a slight rebound in the short term, temporarily around $59,852 as of July 2. The EU’s MiCA regulations have fully taken effect, meaning crypto companies providing services to customers in the EU’s 27 member states must hold a license; otherwise, they will have to cease operations, splitting Europe’s crypto industry into winners and losers. American Bitcoin announced a reverse stock split; earlier, Nasdaq pressured it to delist. Macro Events & Crypto Market Hotspots According

According to Jin10, on July 2, UBS cut its 2026-2027 oil price expectations due to increased energy shipments through the Strait of Hormuz. The bank now forecasts Brent crude at $84 per barrel for 2026, down $9 from previous expectations, and revised 2027 forecasts to $75 per barrel from $85. UBS at

According to Jin10 Futures, SC crude oil fell over 4% and liquefied petroleum gas dropped over 3% in early trading on July 2, amid progress in indirect U.S.-Iran negotiations in Doha. The U.S. agreed to invest $3 billion in Iran while discussing nuclear de-escalation and maritime corridor access.

According to Golden Searcher and Jin10 Futures, China's domestic gasoline and diesel prices are expected to decline by 825 yuan/ton at the next price adjustment window closing at 24:00 on July 3, 2026. As of July 2, the ninth working day of the current pricing cycle shows a change rate of -15.47%, w

Spot gold and silver prices were firmer ahead of the North American market open Wednesday, as traders covered shorts near major support while a firmer U.S. dollar and higher Treasury yields kept the rebound contained before Thursday's June employment report. At the time of writing, spot gold was tra

Brent crude oil fell below $71 per barrel today, declining 0.37% during intraday trading on July 2.

According to the UK's RAC, diesel prices fell by a record 17 pence in June to 167 pence per liter, marking the largest monthly decline since data collection began in 2000. Petrol prices dropped 8 pence to 151 pence per liter, the seventh largest monthly fall on record.