Commodities (Crude Oil & Copper) & Macro Outlook

SC crude oil futures (Shanghai Exchange's benchmark oil contract) surged 7.99% intraday on September 11, trading at 829.90 yuan per barrel.

According to Bank of Japan, Japan's producer price index (PPI) in August rose 7.6% year-over-year, exceeding market expectations of 7.4%. Month-over-month, the August PPI declined 0.2%, falling short of market expectations for no

According to Jin10 Futures, on Sept 11, ethylene glycol prices held steady amid crude oil strength, with spot quotes trading at 6,940–6,960 yuan per ton. Current spot basis levels stood at 10+1020/1040, with next week's basis expected at 10+920/950 and September contract basis at 10+820/805 (all

According to Jin10 Futures, LME copper and Comex copper both fell over 4% on Thursday (Sept 11), following reports that the White House has yet to decide on refined copper tariffs. The decline also reflected a compression in the CL price spread (the difference between Comex weighted futures and LME

As of 09:30 Beijing time on September 11, New York gold futures rose 0.24%, while silver and copper futures declined 0.03% and 0.10% respectively.

According to Jin10, Saudi Arabia's August crude oil production reached its lowest level since 1990, driven by U.S.-Iran tensions squeezing global supplies. Meanwhile, Iran's decision to suspend a 10% energy surcharge suggests reduced pressure on the Strait of Hormuz. Separately, PPI data release

According to Jin10 Futures and China Fortune Futures research, on Sept 11, Houthi forces took control of Yemen's Mocha port, potentially threatening Red Sea shipping routes, while Iran announced it intercepted a U.S. unmanned surface vessel near the Strait of Hormuz, escalating U.S.-Iran tensions.

According to CNBC, prediction market platform Kalshi officially launched gold and silver Perpetual Futures on September 11, marking the first non-cryptocurrency Perpetual Futures approved by the U.S. Commodity Futures Trading Commission (CFTC). Kalshi was first approved to list cryptocurrency Perpetual Futures in the United States in late May, and since then, the notional trading volume of crypto perpetual contracts has reached $44 billion. Background on the Approval of Kalshi’s Gold and Silver

South Korea's Ministry of Economy and Finance stated on September 11 that the country's economic recovery trend continues, driven by strong export growth and improving consumption, according to its September edition of the monthly economic report (Green Book). The government attributed the

According to South Korea's Ministry of Economy and Finance, released September 11, the country's August exports surged 68.7% year-over-year, driven by semiconductors, computers, and cosmetics, with daily average exports reaching $4.47 billion, up 72.5%. Domestic card approvals rose 4.9% compared to

According to Guru Club, on September 11, Brent crude oil futures fell over 1% to $105.11 per barrel, while WTI crude oil futures dropped 1.53% and retreated below $99 per barrel.

China's domestic futures markets opened with mixed movements on September 11 morning. SC crude oil led gains with a rise exceeding 6%, followed by fuel oil and low-sulfur fuel oil (LU) advancing over 5%. Pure benzene and asphalt climbed over 3%, while container shipping on Europe routes, liquefied p

Bitcoin fell to around $76,850 on Sept. 11, as the U.S. August Consumer Price Index (CPI) is set to be released, making it the last major inflation report before the FED FOMC meeting. The August PPI released Thursday rose 5.4% year over year and 0.4% month over month. After the PPI release, CME FedWatch showed the probability of the FED raising rates by 25 bps in September rising above 73%. FED Rate-Hike Probability Rises to 73%, CPI Becomes Key Signal Bitcoin fell further to around $76,850 on S

According to Jin10 Futures, China's fuel oil market saw strong gains on September 11 morning, as rising crude prices and positive market sentiment lifted trader confidence. Refinery inventories remained at low levels, pushing quotations higher. Downstream buyers showed

According to data released by the China Futures Association on September 10, China's futures market recorded single-sided trading volume of 1.087 billion contracts and traded value of 85.04 trillion yuan in August, representing year-over-year increases of 29.05% and 30.67% respectively. For the

According to market data, U.S. stock indices closed lower for the fourth consecutive trading day on Thursday, Sept. 11, as oil prices surged and Treasury yields climbed amid escalating geopolitical tensions. The Dow Jones Industrial Average fell 316.56 points (0.60%) to 52,064.10; the S&P 500

According to Haitong Futures, EC (Brent crude oil) futures maintained elevated levels with geopolitical factors driving market fluctuations yesterday (September 10). The main contract EC2610 closed up 1.76% at 1,966.0 points with open interest increasing 314 lots to 23,737 lots. Other contracts

Korean exports surged 82.6% year-over-year to $35 billion during September 1-10, marking the highest export value ever recorded for this period, according to data released by the Korea Customs Service on September 11. The dramatic increase was driven by a 270.1% spike in semiconductor exports,

On September 11, 2026, from 0:00 to 0:15 UTC, BTC rebounded slightly by 0.32% over 15 min, with a price range of 76568.5–76853.0 USDT and an Ampl of 0.37%. Despite the short-term price recovery, market sentiment remained cautious, volatility was limited, and overall trading activity was strongly dominated by a wait-and-see sentiment. The core drivers of this move were the continued escalation of the US-Iran military conflict and a sharp rise in expectations for FED Interest Rate hikes. The US an

According to Jin10 Futures, on September 11, oil prices rose amid ongoing geopolitical tensions with no signs of easing. Xylene market tightness supported PX prices, with the paraxylene market continuing its upward momentum driven by higher feedstock