Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, on October 28, polyester short fiber prices in Jiangsu fell 40 yuan per ton to 8,980 yuan per ton. Overnight crude oil declined, though short fiber markets showed slight strength following intraday oil rebound. Current spot trading was modest, with mainstream prices quoted

According to Guru Club, Brent crude oil rose 1% to $110.85 per barrel on October 28, while WTI crude oil gained 0.9% to $100.43 per barrel during intraday trading.

According to Jinlian Creator, China's gasoline and diesel prices are set to rise by 410 yuan per ton on October 29, based on a reference crude oil average of $106.05 per barrel and a positive rate of change of 7.18% as of October 28. This marks the first upward adjustment in the current pricing

Bitcoin (BTC) sees a short-term rebound, trading at around $80,790 as of October 28. The crypto industry has spent $176 million backing allies to prepare for the post-Trump era, going all out to influence the midterm elections. An Argentine court has ordered the criminal investigation into President Milei over the LIBRA meme coin controversy to be closed, finding insufficient evidence to establish criminal fraud. Macro Events & Crypto Hot Topics Reuters reported that the crypto industry has spen

As of 09:30 Beijing time on October 28, WTI crude oil futures rose 1.20%, while U.S. natural gas futures gained 1.93%.

According to Trump, the U.S. will receive its first 1 million barrels of Venezuelan oil today, with subsequent supplies to scale to billions of barrels.

US Energy Secretary Chris Wright signaled on October 27 that the US government may permit additional Russian diesel to enter global markets depending on Russia's actions. Speaking on CNBC, Wright described the recent sanctions waiver as an attempt to place a carrot before Russia, stating that

According to Jin10, RBA Governor Michele Bullock said on Wednesday that the central bank will assess at its next monetary policy meeting whether the four rate hikes implemented this year are sufficient to bring inflation back to target within a reasonable timeframe. Bullock testified to lawmakers th

According to Zhengxin Futures, on October 28, Iran held a four-party conference in Tehran and agreed to continue subsequent diplomatic talks. Simultaneously, Houthi forces launched their first attack on Saudi Arabia's largest oil export terminal, Ras Tanura. The combination of diplomatic progress an

According to Kpler, Middle East crude oil exports exceeded pre-conflict levels, averaging over 24 million barrels daily as of mid-October, up from 23.3 million barrels previously. Brent crude traded around $108 per barrel this week, driven by roughly 30 attacks in October that pushed shipping

RBA Governor Michele Bullock recently warned that the central bank cannot tolerate sustained high inflation, noting that price pressures are materializing as a key risk. Bullock indicated inflation may remain elevated for some time and could exceed the Reserve Bank's August baseline forecast, with g

According to reports on Wednesday morning, October 28, Malaysian crude palm oil (CPO) futures listed on Bursa Malaysia Derivatives (BMD) are expected to open lower, tracking declines in international crude oil and Chicago soybean oil futures. Malaysian palm oil inventories surged to a record 3.51

According to Jin10, CBOT corn futures fell 1.4% at close on Tuesday, hovering near multi-month lows as seasonal harvest pressure and long liquidation weighed on prices. Traders remain concerned that currency headwinds could suppress U.S. grain export demand. The U.S. dollar

According to Jin10 Futures citing foreign media reports, CBOT soybean futures closed lower on Tuesday, with the benchmark contract falling 0.76%, driven by accelerating U.S. farmer harvesting activity, sharp depreciation of the Brazilian real, and continued liquidation selling by investment funds. T

According to Jin10 Futures, ICE canola futures fell 0.82% on Tuesday (Oct 28), primarily driven by speculative funds reducing their outsized long positions in the market. Canadian prairie farmers have completed sales of their planned canola volumes, increasing market supply and adding downward

According to British media reports, the Trump administration is proposing post-war commercial cooperation to advance Russia-Ukraine peace negotiations. The approach includes discussions on returning U.S. oil companies to Russia and resuming Russian oil supplies to Europe, though no final agreement h

According to external media reports, ICE's November rough sugar futures rose 0.52% on Tuesday, rebounding from Monday's 5.6% decline as the Brazilian real stabilized. The real was trading near 5.35 against the US dollar, down approximately 7% from pre-election levels but improving from Monday's 12%

According to Jin10 Futures, on Tuesday (October 28), ICE cotton futures fell 1.26%, extending a decline that began last Thursday. U.S. dollar strength and falling crude oil prices weighed on the contract. With U.S. cotton harvests surpassing 50%, harvest-related selling pressure is expected to

The USD-KRW 1-month non-deliverable forward (NDF) closed at 1,326.40 won on October 28, according to overseas brokers. This represents a 3.70 won increase from Seoul's prior close of 1,323.70 won after accounting for the recent swap point of -1.00 won. The dollar strengthened as optimism around

According to Jin10 Futures, on Tuesday, LME copper prices rose 1 percent, supported by recovery in AI-related stocks and strong demand from China, the world's largest copper consumer. ING strategist Eva Mentek noted that AI stock rebounds provided backing for copper prices, as markets anticipate