Commodities (Crude Oil & Copper) & Macro Outlook

Japanese Prime Minister Takaichi Sanae on June 29 instructed cabinet officials to advance industrial-scale seabed rare earth mining near Minamitorishima by fiscal year 2027. The directive, issued at a cabinet ocean policy meeting, targets daily processing capacity of 350 tons or more of seabed

LME aluminum futures fell to 3,104 dollars per ton, marking the lowest intraday level since February 25, with losses of 2% currently.

According to reports from Kyodo News and Nikkei, Prime Minister Takaichi Sanae instructed on June 29, 2026, the government to begin rare earth mining and testing operations off Minami-Tori Island in Tokyo's Ogasawara region by fiscal 2027. The project aims to reach a production scale of at

According to Angela Wilkinson, secretary general and CEO of the World Energy Council, global energy system leaders face a greater challenge than the energy transition speed itself: increasing geopolitical fragmentation. In a recent interview, Wilkinson stated that the real bottleneck lies in

Low sulfur fuel oil (LU) futures main contract rose 2.00% intraday today, reaching 3,921 yuan per ton.

Gate News: According to the latest Gate TradFi data, COCOA (Cocoa) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

According to RTE grid operator data, France's nuclear power output fell below 33 gigawatts on Sunday, June 29, hitting its lowest level in nine months due to a heat wave across Europe forcing EDF to reduce production as river temperatures remained too high to effectively cool

The Indian government announced it will lift restrictions on the sale of gasoline and diesel starting July 1, 2026.

According to Petrobras, Brazil's state oil company, the Buzios Field achieved record-high daily output of 1.2 million barrels last Friday, marking a new historical peak for the offshore production facility.

According to Longzhong Information, as of June 29, China's asphalt social inventory across 104 facilities totaled 1.1 million tons, down 3.1% from June 25 and down 39.4% year-over-year. The drawdown marks the 12th consecutive week of inventory reduction. Among the 54 sample asphalt factory

According to LSEG shipping data and a U.S. official statement, Middle Eastern oil producers continued loading crude oil and liquefied natural gas on June 29 despite recent vessel attacks and escalating US-Iran military clashes in the Strait of Hormuz. Four very large crude carriers (VLCCs), each

In the final week of June 2026, the Middle East situation once again experienced intense volatility. The US military struck 10 Iranian military targets, and Iran subsequently retaliated against 8 US military facilities. Within days, the two sides quickly shifted from military confrontation to diplomatic negotiations, agreeing to a ceasefire and scheduling a meeting in Doha, the capital of Qatar, on June 30. Although this round of conflict was brief, its impact on global financial markets—especia

According to Bloomberg Economics, on June 29, the UK growth forecast for 2026 was raised to 1.2% from a prior estimate of 0.8%, citing the benefit of declining global oil prices following the US-Iran temporary peace agreement. The firm also lowered its inflation forecast to 3% from 3.5%, enabling th

According to SoSoValue data, Bitcoin is set for its worst monthly performance since June 2022, with prices down nearly 19% as investors withdrew a record $1.7 billion from U.S. spot Bitcoin ETFs last week. It was the seventh consecutive week of net outflows from the funds since their January 2024 la

According to the Bank for International Settlements, on June 29, the BIS classified stablecoins as resembling exchange-traded funds more than genuine money in its Annual Economic Report 2026. The report notes that stablecoins trade at prices deviating from their pegged value and carry redemption

Grayscale has identified three variables that currently determine Bitcoin's price trajectory: passage of the CLARITY Act through the Senate, stabilization of Strategy's balance sheet, and the Federal Reserve's decision on further rate hikes. According to Grayscale's head of research, Zach Pandl, if

According to QCP's latest report, the U.S. and Iran experienced renewed military friction over the weekend (June 28-29), with both sides accusing each other of breaching a 60-day ceasefire agreement following their recent memorandum of understanding. Crude oil prices remained near $70 per barrel,

Steenkampskraal Monazite Mine (SMM) and South Africa's Mintek research institute jointly announced the successful laboratory extraction of high-purity mixed rare earth products. The breakthrough makes South Africa the first African nation to master this technology, enabling the country to move