Commodities (Crude Oil & Copper) & Macro Outlook

Chinese A-share indices closed higher on the 21st, with the Shanghai Composite Index rising 0.04% to 3905.2 points, holding above the 3900-point threshold for a second consecutive trading day. The rally was driven by statements from China's Ministry of Finance indicating preparations for

From 08:45 to 09:00 on August 21, 2026 (UTC), BTC surged 2.09% within 15 minutes, climbing from 77,580.7 USDT to 79,520.0 USDT, with a 2.50% price range. The price quickly broke through the 79,000 USDT level, market sentiment heated up sharply, and the short-term trend showed a strong rebound. The main driver of this move was the U.S. Treasury’s launch of a Treasury buyback program, which sent a signal of stability in the bond market. Combined with a weaker DXY and declining expectations for lon

From 08:00 to 09:00 (UTC) on August 21, 2026, BTC rose 0.77% over a short period, trading within a range of 76,257.3–77,194.6 USDT, for an amplitude of 1.23%. Over the past 24 hours, BTC rebounded from a low of $69,513 to $75,863, gaining 8.47%. The current price is in short-term overbought territory, and market volatility has intensified. The primary driver of this unusual move is the escalation of the US–Iran war, which has entered its sixth month. Iran has shifted from defense to active offen

According to the Shanghai Futures Exchange (via Jin10), effective August 29, 2026, the exchange adjusted hedging position conversion standards for silver and copper futures. Silver futures will resume automatic conversion of general-month hedging positions to nearby-month hedging positions for

According to Guru Club, London Metal Exchange three-month zinc futures climbed to $3,804 per ton today, marking the highest level in four years.

Iraq's Prime Minister announced plans to boost oil production to 8-10 million barrels per day over the next six years. The government has also dispatched a ministerial committee to Saudi Arabia to discuss expanding Iraq's OPEC production

On August 21, 2026, from 08:00 to 08:15 UTC, BTC surged rapidly over the 15-minute period, posting a return of +0.77%, a price range of 76,257.3–77,194.6 USDT, and an amplitude of 1.23%. The price began rising from around $76,000, briefly touched a high of $77,194.6 during the period, and generally followed a choppy upward trend. Market attention increased significantly, and volatility intensified. The primary driver of this anomaly was a sharp escalation in geopolitical risk. The US-Iran war en

According to Ukrainian President Zelensky, Ukrainian forces struck a Russian oil refinery in Perm and the Marinovka military airbase in Volgograd region on August 21.

According to ICE data, European natural gas prices in the Netherlands and UK hit five-month highs on August 21, driven by US-Iran tensions and low storage levels. The Dutch benchmark TTF near-month contract rose 0.545 euros to 65.84 euros per megawatt-hour, touching 66.09 euros intraday. UK near-mon

According to the London Metal Exchange, copper inventory decreased by 1,350 tonnes and zinc inventory fell by 1,275 tonnes today. Nickel inventory increased by 294 tonnes, while tin declined by 45 tonnes and lead dropped by 250 tonnes. Aluminum inventory remained

According to Yonhapinfomax, the USD/JPY exchange rate held around 159 yen on August 21 amid rising oil prices and Middle East uncertainty. The yen weakened as U.S. Treasury Secretary Scott Bessent signaled extensive economic pressure on Iran, pushing global crude prices higher. WTI crude surged

Upcoming data releases on August 21: Eurozone's August manufacturing PMI preliminary reading, and LME inventory changes for copper, aluminum, and nickel will be published within minutes.

From 07:15 to 07:30 (UTC) on August 21, 2026, BTC rose 0.58% over 15 minutes, trading within a range of 75,936.3–76,917.0 USDT, with an amplitude of 1.29%. Over the past 24 hours, BTC rebounded from a low of $69,231 to a high of $75,783, a gain of 7.91%, before falling 0.92% to around $74,435 in the most recent 1-hour candle. Volatility intensified significantly, and market attention increased rapidly. The primary drivers of this move were the dual shocks of a sharp escalation in the US-Iran con

According to Jin10 Futures, as of August 21, Dalian Commodity Exchange chemical futures warehouse receipts showed the following movements: polyethylene (PE) 4,343 contracts, unchanged day-over-day; polyvinyl chloride (PVC) 121,011 contracts, down 34 contracts; polypropylene (PP) 27,696 contracts,

According to the Shanghai Futures Exchange, warehouse inventories for key commodities shifted this week: copper rose 19,817 tons, aluminum fell 18,300 tons, zinc increased 1,181 tons, lead dropped 209 tons, nickel declined 771 tons, tin gained 56 tons, and natural rubber decreased 5,716 tons.

According to Jin10, Shanghai Futures Exchange pulp warehouse inventory increased to 374,481 tons on August 21, up 495 tons from the previous trading day. Other energy and chemical futures warehouse inventory remained unchanged, including gazetted paper, fuel oil, bitumen, crude oil, and low-sulfur f

According to Jin10, Shanghai Futures Exchange (SHFE) reported warehousing inventory data for major metals on August 21. Copper inventory declined to 46,105 tons from 46,105 tons (down 6,974 tons); aluminum fell to 274,201 tons (down 11,030 tons); zinc dropped to 114,403 tons (down 657 tons); lead de

According to UN spokesman Dujarric, on August 20, conflicts in the Gulf region have had tangible impacts on global economy and shipping, affecting the Strait of Hormuz and freedom of navigation through the Mandeb Strait, Gulf of Aden, and Red Sea. The UN urged all parties to return to

Brazil is attracting foreign mining companies seeking rare earth exploration opportunities as an alternative to China's market dominance. Analysis of mining permits by the Associated Press and Reporter Brasil shows 42% of Brazil's 2,727 rare earth exploration applications came from foreign company s