Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 citing Hengyin Futures research, Zhengzhou sugar contracts stabilized at lower levels with modest gains on October 28, as Chinese sugarcane mills in Guangxi prepare to restart crushing operations. Near-term headwinds stem from currency depreciation: Brazil's real weakened

US Stock Market News shows S&P 500 futures edging higher on Oct. 28 (1:30 PM IST Oct. 28) as stronger durable goods data reinforces soft landing expectations. September durable goods orders rose 1.8%, while core orders excluding transportation gained 0.5%, pointing to resilient capital spending.

As of Beijing time 20:30 today, WTI crude oil futures rose 1.93% and U.S. natural gas futures climbed 2.20%.

Ethylene glycol futures posted strong gains today, rising 5.62% to close at 5,258 yuan per ton, outperforming all commodities in the broader market. The rally was driven by supply-side tightening, with an oil tanker incident near the Strait of Hormuz yesterday coupled with inventory levels hitting b

According to shipping trackers and data providers, Saudi Arabia maintained daily oil exports near wartime levels in October despite continued attacks on its energy infrastructure. Vortexa reported October exports averaging 6.5 million barrels per day, compared to 6.6 million daily in September.

According to UBS, on October 28, the bank raised its year-end Brent crude oil price target to $110 per barrel from $100, citing Middle East supply disruptions, declining global inventories, and record shipping costs. Global visible oil inventories have fallen more than 500 million barrels since

According to Jin10 Futures, ethylene glycol futures led China's petrochemical sector higher on October 28, with the main contract (2701) hitting the daily limit during intraday trading before reversing lower near the

According to Jin10 Futures, Malaysian palm oil futures fell 0.3% to 4,687 ringgit (US$1,149.90) per ton on October 28, marking the third consecutive trading day of losses. Despite the decline, export demand remained robust ahead of India's Diwali festival season. Ship survey firms estimated Malaysia

According to Guru Club, on October 28, European natural gas benchmark futures surged 3.7% and broke through €99/MWh for the first time since end-2022. Price gains were driven by concerns over potential escalation of Iran conflict tightening global gas supplies, combined with low European

According to Jin10 futures, copper concentrate treatment charges (TC) continued declining on October 28, with sulfuric acid prices falling significantly, compressing smelter margins domestically. Chinese refineries have increased maintenance shutdowns this month, with further production cuts

According to Equinor's Chief Financial Officer, the company's 2027 production will not reach the exceptional levels achieved in 2026 but is expected to exceed 2025 output.

According to the Brazilian Center for Advanced Studies in Applied Economics (Cepea), arabica and robusta coffee prices in Brazil remain supported by USD strength against the real on October 28. Despite declines in international markets, favorable weather conditions in production regions have

According to Citigroup analysts, in the past two weeks, bond yields on heavily indebted AI infrastructure provider CoreWeave surged to around 16%, triggering a ripple effect across the debt market. Yields on bonds financing data centers leased by CoreWeave—issued by developers Edged Compute, Core

According to Jin10 data, the U.S. Navy Central Command issued an advisory on October 28 recommending vessels without essential port transits between the Gulf of Oman and Strait of Hormuz to maintain sufficient distance from the region to avoid unnecessary delays. The command stated through the

According to Jin10, China National Petroleum Corporation (CNPC) reported Q3 2026 net profit of 53.9 billion yuan, up 21.6% year-over-year, on October 28. Q3 revenue reached 793.6 billion yuan, growing 10.4% year-over-year. For the first nine months of 2026, CNPC posted cumulative net profit of 155.

According to Jin10 Futures and Longzhong Information on October 28, China's methanol supply in 2026 maintains a west-to-east trading pattern, with imports declining by roughly 50% compared to 2025 due to prolonged U.S.-Iran tensions and disruptions in the Strait of Hormuz. The significant

According to sources, daily average exports of Black Sea CPC blend crude oil are expected to decline 2% in November compared to October levels.

According to Iranian officials, U.S. and Brent crude oil prices rose by nearly 0.6 USD in recent trading (Oct 28), amid ongoing diplomatic tensions. Qatar has not presented a new proposal to end hostilities with the United States, an Iranian official

NinjaTrader Group launched in the United Kingdom, adding the market to a European expansion that earlier in 2026 included Germany, Italy, France, the Netherlands, Spain and broader EU markets. The company positions its service as a futures-first alternative, with access to CME and Eurex

According to Jin10, Indonesia's energy ministry announced on Wednesday that the country will establish a special agency to accelerate approvals for investments in the oil and gas sector. The move is part of a proposed amendment to Indonesia's 2001 Oil and Gas Law, which is set to be reviewed by parliament and the government. The agency will be granted broad powers, including the authority to issue permits. Energy transition official Basarah Lahadaria said the measure aims to reduce bureaucracy,