Commodities (Crude Oil & Copper) & Macro Outlook

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,

UBS raised its Brent crude oil price forecasts for 2027, lifting the March outlook from $90 to $95 per barrel, the June forecast from $85 to $90 per barrel, and the September estimate from $80 to $85 per barrel.

According to Energy Secretary Sharon Garin on October 28, the Philippines is negotiating oil storage arrangements with Saudi Arabia, Russia, the United States, and other nations to mitigate fuel price volatility stemming from the Iran conflict. The country currently maintains 55 days of fuel

According to Jin10, on October 28, ADNOC, TotalEnergies, and Chevron are likely to win an LPG supply contract from India's state-owned liquid petroleum gas importers, with deliveries of approximately 2.75 million tons scheduled for 2027. The joint tender attracted around 12 long-term import bids fr

According to Glorizon Club, on October 27, crude oil futures experienced a broad decline. New York crude oil December futures fell 1.86 USD to close at 99.9 USD per barrel, while Brent crude December futures fell 1.93 USD to 113.88 USD per barrel. Naphtha rose 13 USD to 1,059 USD per metric ton

According to Shenyin Wanguo Futures, China's aluminum market rebounded on Oct 28 amid declining domestic stockpiles and warehouse receipts, with basis spreads widening significantly. The tight balance in physical aluminum supplies provided short-term upside momentum. However, the recent narrowing

According to Jin10, on October 28, Shanghai Futures Exchange reported daily warehouse receipts across 23 commodities. Notable changes included copper futures declining 1,973 tons, lead futures dropping 4,220 tons, and international copper falling 1,351 tons. Fuel oil warehouse receipts

According to Jin10 Data, WTI and Brent crude oil slid approximately $0.7 from daily highs on October 28, now trading at $100.75 per barrel and $110.89 per barrel respectively. The decline follows reports that Qatar's mediator submitted a new agreement draft to Iran on Sunday regarding nuclear

According to Guru Club, on October 28, European natural gas futures surged to near four-year highs around 98 EUR/MWh, up 2.6%, driven by escalating Iran tensions and rising winter demand. U.S. officials have notified Gulf states to prepare for potential military action post-election, prompting

According to Jin10 Futures, Fujairah Oil Industrial Zone (FOIZ) data showed that as of the week ending Oct 26, total refined oil inventories at Fujairah port reached 8.914 million barrels, up 1.667 million barrels from the previous week. Light distillates increased 638,000 barrels to 1.942 million