Commodities (Crude Oil & Copper) & Macro Outlook

The Shanghai Containerized Freight Index Europe-bound mainline (ECM) main contract fell 201.5 points intraday on June 2, now trading at 3,653.5 points, down 5.23% for the day.

According to Jin10 Data on June 2, Shanghai's Municipal Government issued guidance on deepening the city's role as a global asset management hub. The notice includes plans to authorize commodity futures settlement prices to more overseas exchanges, support the internationalization of delivery

According to CME data released June 2, on June 1, crude oil and other commodity futures showed mixed activity. WTI crude oil trading volume surged to 917,287 contracts, up 178,710 from the prior session, with open interest at 2,030,080 contracts, up 6,940. Brent crude oil trading volume rose to 169,

According to Jin10 data, Russian oil giant Rosneft reported first-quarter oil and condensate output of 3.74 million barrels per day, declining 0.4% sequentially. Meanwhile, three sources told Jin10 that OPEC+ is expected to decide on Sunday to increase July crude production quota by 188,000 barrels

From 05:45 to 06:00 (UTC) on June 2, 2026, BTC fell 0.38% within 15 minutes. The price ranged from 70,252.7 to 70,532.5 USDT, with a 0.40% amplitude. This period falls in Asia’s early-morning low-liquidity window. The modest decline is a continuation of risk release after BTC broke below $75,000 on May 28, and market sentiment remains under pressure. The core driving factors behind this abnormal move are a resonance between macro geopolitical risk and worsening fund flows. In late May, escalatio

According to Jin10 Futures, in May, Shandong independent refineries' average refining profit turned negative at -1,424.41 yuan/ton, declining 775.41 yuan/ton month-over-month. The decline was driven by rising crude oil costs combined with weak gasoline and diesel terminal demand and ample resource s

According to Jin10 Futures, Zhengzhou rapeseed meal futures opened higher and oscillated downward on June 2. Canadian canola futures closed up 1.76% on the benchmark contract, driven by strength in international crude oil futures. Rapeseed meal spot prices held steady today, with crushing mill

According to Indonesia Statistics Bureau, the country exported 7.72 million tonnes of crude oil and refined palm oil during January to April 2026. Coal exports reached 114.54 million tonnes in the same

According to Securities Times, the Space Energy Development Alliance held its launch ceremony on June 2 during the opening session of the 19th International Solar and Photovoltaic, Energy Storage and Battery Conference and Exhibition in

The U.S. Trade Representative's Office (USTR) proposed imposing a 25% tariff on all imports from Brazil on June 2, with the exception of goods already subject to Section 232 national security tariffs.

According to Jin10 Futures, on June 1, China East Benzene closed at 7,670 yuan/ton, up 30 yuan/ton from the previous trading day. Near-month prices held relatively firm due to gradual inventory drawdown at East China ports. Maintenance at Sinopec and Hainan Refinery in early June, combined with

On Tuesday, WTI crude futures hovered near $92 per barrel after surging more than 5% at the start of June, amid escalating geopolitical tensions. According to Iranian media reports on Monday, Tehran suspended communications with Washington following Israeli airstrikes on Lebanon, while Iran and

As of June 2, 2026, data from the Gate prediction market shows that the probability of the Strait of Hormuz returning to normal shipping before June 15 is 4%, before June 30 is 22%, before July 31 is 41%, and by December 31 the probability rises to 76%. This set of probability curves clearly reflects the market’s incremental expectations regarding the timeline for resolving the geopolitical conflict. In the short term, low probabilities coexist with high probabilities over the medium to long ter

According to Shanghai Steel Union, battery-grade lithium carbonate (MMLC) midday spot price fell to 175,950 yuan/ton today, down 1,250 yuan/ton from yesterday's 4:30 pm close.

CME Group (Chicago Mercantile Exchange Group) announced that its 24/7 crypto futures and options trading services went live on May 29. The first weekend saw trading of more than 7,200 contracts, with a notional value of about $50 million. Bitcoin volatility futures were also launched at the same time, starting 24/7 trading. Public statements from participating institutions JB Mackenzie, Vice President of Futures and International Business at Robinhood Markets, said: “Cryptocurrency is a 24/7 ass

SC crude oil futures intraday gains narrowed to 2.00% today (June 2), trading at 596.50 yuan per barrel.

According to Jin10, Indian Airlines, IndiGo, and Air India Express began cutting domestic flights from June 1 due to rising aviation fuel costs and weak travel demand. Indian Airlines will reduce domestic flights by 22%, Air India Express by nearly 10%, and IndiGo by 5-7%, totaling

On June 2 morning trading session, Chinese commodity-focused ETFs showed mixed performance. Dazheng Non-ferrous Metal Futures ETF and Jianxin Energy and Chemical Futures ETF gained, with the Dazheng Non-ferrous Metal Futures ETF rising over 1%. Meanwhile, Nansouth Shanghai Gold ETF, E Fund Gold ETF,

According to White House announcement, on June 2, the U.S. White House announced further adjustments to import tariff policies on aluminum, steel, and copper. Specific details regarding the adjustment rates and implementation timeline were not

According to Haitong Futures, EC contract futures surged on June 2 with the SCFIS European route index up 9.4% to 2,038.09 points, reflecting actual spot freight rates from May 25–31 at approximately $2,700 per large container. Spot market rates are entering a price hike cycle, with concentrated