Commodities (Crude Oil & Copper) & Macro Outlook

Japanese investors net sold U.S. government, agency, and local authority bonds totaling 4.67 trillion yen (about $29.6 billion) in the first quarter of 2026 (through March 31), according to balance of payments data released by Japan on Wednesday. This was the largest-scale selloff since Q2 2022. The key factor triggering this selloff was a roughly 50% surge in oil prices during the period, accelerating expectations of inflation. Japan Q1 U.S. Treasury selloff data: Scale, types, and historical c

According to OPEC released today, the cartel downgraded its 2026 global oil demand growth forecast to 1.17 million barrels per day (bpd) from 1.38 million bpd, reflecting weaker economic outlook. Separately, Cuban officials announced the country's diesel and fuel oil supplies have been exhausted, i

According to Jin10 data, the U.S. April Producer Price Index rose 6% year-over-year on May 14, reaching its highest level since December 2022 and exceeding market expectations of 4.9%. The monthly PPI surged 1.4%, driven by increases in both commodity and service prices. Federal Reserve officials

According to Jin10, styrene prices declined sharply this week, closing at 9,950 yuan per ton in Jiangsu market as of May 13, down 590 yuan per ton from May 6, representing a 5.82% drop. International crude oil weakness earlier in the week triggered a broad selloff across chemical commodities,

According to Guru Club, copper prices at the London Metal Exchange retreated 1.9% on May 14, ending eight consecutive days of gains after hitting record closing highs. The pullback reflects fading buying momentum as rising copper prices significantly suppress demand in China, according to analyst

According to JOGMEC (Organization for the Development of the Sakhalin Project), Japan's liquefied natural gas spot contract price reached $19.10 per million British thermal units in April.

According to Jin10 on May 14, India's rupee is expected to remain under pressure on Thursday, hovering near historic lows amid persistent oil price-related headwinds. The prolonged elevated crude oil prices have increasingly strained the currency, prompting India's Prime Minister to recently call

According to PANews, on May 14, CFTC's Division of Market Oversight and Division of Clearing and Risk released a no-action letter, indicating it will not recommend enforcement action against designated contract markets, derivatives clearing organizations, and participants that fail to comply with re

According to Kyodo News, the Japanese government is considering compiling a supplementary budget on May 14 to ease household burden from rising fuel costs. The measure would support families facing higher gasoline prices and utility bills during the summer season, putting pressure on Japan's

According to Jin10, on May 14, Hunter Hunt, head of Hunt Oil Company, warned that damage to Middle East energy infrastructure could reduce global oil production in coming years. Hunt cited concerns including oil production shutdowns, refinery damage, and potential closure of the Strait of Hormuz,

According to Jin10 Futures, China's rapeseed oil futures declined on May 13, with the Zhengzhou Commodity Exchange (ZCE) 2609 contract closing at 9,665 yuan/ton, down 29 yuan/ton or 0.30% from the previous trading day and 270 yuan/ton or 2.72% compared to the same period last week. Spot prices

According to Shanghai Steel Union, battery-grade lithium carbonate (MMLC) fell to 196,150 yuan per ton this morning (May 14), down 1,750 yuan from the previous day's 4:30 PM price.

According to Jin10, on May 14, a crude oil tanker flying a Panama flag and operated by Japanese major oil company ENEOS successfully passed through the Strait of Hormuz.

According to Guru Club, fuel oil futures contracts fell over 2% on May 14, trading at 4,349 yuan per ton.

According to Guru Club, lithium carbonate futures main contract fell 4% intraday on May 14, trading at 193,720 yuan per ton.

In early trading on May 14, China's Treasury futures market opened with broad gains across all maturities. The 2-year contract (TS) rose 0.01%, the 5-year contract (TF) rose 0.01%, the 10-year contract (T) rose 0.02%, and the 30-year contract (TL)

Bitcoin (BTC) continues a weak downtrend, temporarily around $79,630 on May 14. TAC’s cross-chain layer TON side was attacked by an external attacker, with losses of about $2.8 million. Polymarket’s predicted market monthly trading volume in April fell by about 8.9%, the first decline since August 2025. Macro Events & Crypto Hotspots 1、TON network expansion project TAC disclosed on the X platform that the TON side of TAC’s cross-chain layer was attacked by an external attacker, resulting in loss

As of 09:30 Beijing time on May 14, WTI crude oil futures rose 0.06%, while U.S. natural gas futures climbed 0.35%.

According to a Chaos Chengcheng Futures research report released on May 14, global refined tin supply faces a structural deficit as Peru's energy crisis constrains mine production. Peru declared a national energy emergency after a natural gas pipeline rupture, forcing local mining operations to

According to Chaos Chengcheng Futures research note on May 14, zinc prices rose as global commodity supply risks increased due to Peru's energy emergency triggered by natural gas pipeline damage. The crisis has constrained local mining production, while ongoing closure of the Strait of Hormuz