Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 Data citing China's National Energy Administration, the country's power market completed 588.3 billion kWh of electricity trading in April 2026, representing a 25.5% increase year-over-year.

According to Jin10, the U.S. Richmond Federal Reserve manufacturing index reached 13 on May 28, marking its highest level since November 2021. Private-sector employers added an average of 35,750 jobs weekly through May 9, according to ADP data. Fed officials issued fresh warnings on inflation.

Zimbabwe's government recently issued a mineral classification policy designating 14 mineral products, including lithium, nickel, cobalt, and graphite, as critical minerals subject to equity control and export restrictions. The policy establishes a mandatory minimum state equity stake requirement th

Natasha Kaneva, JP Morgan's Global Head of Commodities Research, stated in a recent interview during the bank's 22nd Global China Summit that the Strait of Hormuz closure is driving global inflation, interest rates, and commodity pricing. She forecasts oil prices may remain in triple digits

According to Natasha Kaneva, JPMorgan's global head of commodities research, oil prices are expected to remain above $100 per barrel through the end of 2026 if the Strait of Hormuz reopens in June, while gold prices could reach $6,000 per ounce by year-end if actual interest rates decline and

According to Kazakhstan's Energy Minister, the Kashagan oil field maintenance has not yet begun as of May 28, with shareholders still in discussions regarding the matter.

According to the IEA's 2026 Global Energy Investment Report released on May 28, global natural gas project investment is projected to grow over 10% this year to $330 billion, marking a 10-year high. Meanwhile, upstream oil investment will decline for the third consecutive year. The energy sector is

According to Guru Club, WTI crude oil futures rose 4% to $92.28 per barrel on May 28.

On May 28, Nio CEO Li Bin stated that raw material prices, including nickel, cobalt, and lithium carbonate, have increased significantly this year, pushing up vehicle production costs by approximately 10,000 yuan per unit. Li Bin noted that automakers lack pricing power in negotiations with

London copper declined to a one-week low in recent trading on May 28, driven by escalating U.S.-Iran military tensions and a stronger U.S. dollar, analysts noted. The decline reflects heightened geopolitical risk in the Middle East and its impact on commodity markets. Analysts highlighted that

In late May, the international crude oil market saw a round of sharp price fluctuations. As of May 28, Gate market data showed WTI crude oil was temporarily quoted at $91 per barrel. Earlier, oil prices that had been pushed up by a Middle East geopolitical conflict quickly fell back on the back of news related to US-Iran negotiations. Market expectations for the Strait of Hormuz’ navigation outlook are rapidly adjusting, and a new round of price games is already underway. In a highly uncertain e

According to Jin10 Futures, as of May 27, styrene prices in the Jiangsu market fell to 9,035 yuan/ton, down 630 yuan/ton (6.52%) from May 20, as Brent crude oil declined 10.22% following renewed Iran-U.S. negotiations and a peace accord announcement. Pure benzene followed crude downward amid weak do

According to Odaily (citing Gate data), both WTI crude oil and Brent crude oil rose 2.00% intraday on May 28, with WTI trading at $93.90 per barrel and Brent at $94.65 per barrel.

According to Guru Club, U.S. and Brent crude oil surged over 3% on May 28. The price movement followed Iran's Revolutionary Guards announcing strikes against U.S. air force bases near Abbas Port in response to earlier attacks. The Iranian military warned that any further U.S. strikes would trigger a

According to Odaily, MGBX officially launched its TradFi perpetual contracts section, allowing users to trade global stocks, indices, precious metals, energy, and forex via USDT without requiring a traditional brokerage account. The platform offers 7×24 trading access with up to 75x leverage and a

According to Shanghai Steel Union data, MMLC battery-grade lithium carbonate (early session) was quoted at 175,550 yuan/ton today, up 100 yuan/ton from yesterday's 4:30 p.m. price.

According to Jin10 on May 28, Chicago Federal Reserve President Austan Goolsbee said on Thursday that energy inflation related to the Iran conflict has persisted longer than anticipated, imposing a "stagflation shock" on Asian economies. Speaking at a Bank of Japan Financial Research Institute

According to Jin10 Futures, as of May 28 at 10:13, China's futures market saw significant inflows and outflows across major contracts. Lithium carbonate (LI2609) received 624 million yuan in inflows, followed by Shanghai silver (AG2608) at 444 million yuan, and PTA (PTA2609) at 398 million yuan.

According to Michio Saito, senior economist at Nomura Capital Market Research, Middle East tensions could complicate Japan's path to rate hikes. Swap market pricing shows traders expect a 75% probability of a June rate increase and 92% by July. However, Saito—a former key Japanese Finance Ministry o

According to Jin10 Futures, as of May 28, Malaysia's palm oil exports remain weak with elevated near-term supply pressure, weighing on price momentum. However, pending details on Indonesia's export policy, expected increases in biofuel consumption in the second half, and potential production cuts