Commodities (Crude Oil & Copper) & Macro Outlook

According to U.S. Central Command, American forces destroyed five Iranian crude oil carriers on Tuesday (September 9) after the Islamic Revolutionary Guard Corps targeted a U.S. Navy warship with ballistic missiles twice over the past two days. No American personnel were harmed in the strikes. U.S.

According to executives from Mangalore Refinery and Petrochemicals Limited (MRPL), the company's refinery capacity utilization rate reached 105-108% over the past six months.

According to Jin10 Futures, China's domestic LPG prices rose to 7,154 yuan per ton as of September 8, up 11.6% from September 2. The rally is driven by escalating Middle East tensions supporting crude oil, coupled with tight upstream supply, limited import availability, and sustained downstream

According to BlockBeats, trader Valen9 added a $123,500 short position in WTI crude oil on September 9 and spent an additional $2,719 to purchase 19,400 shares of "US ends Iran blockade by end-September" Yes contracts early today, according to TradingBeats monitoring. Valen9 now holds 3,723 WTI sho

According to Guru Club, SC crude oil futures surged over 5% on September 9, trading at 738.5 yuan per barrel. The price reached its highest level since March 23.

According to Jin10 data, LME base metals index reached record highs on Tuesday (Sept 9), driven by escalating Middle East tensions. Zinc surged above $4,000 per ton for the first time since 2022, while copper and aluminum also climbed. Supply-side disruptions coupled with risks from U.S.-Iran

Wall Street banks forecast oil prices could surge to $120-150 per barrel if supply disruptions intensify, with Brent crude currently trading near $100. Bank of America projects prices reaching $120 with additional supply shocks, potentially hitting $150 if Middle East energy infrastructure faces

According to Jin10 Futures, as of September 8, Shandong low-sulfur fuel oil reached 5,940 yuan/ton, up 7.03% week-over-week (390 yuan/ton higher); medium-sulfur fuel oil rose to 5,740 yuan/ton, up 7.29% from the previous Tuesday. Domestic fuel oil supply remains tight due to reduced refinery

Copper prices surpassed $14,700 per ton for the first time, with London Metal Exchange (LME) 3-month copper futures reaching an intraday high of $14,779 per ton, marking consecutive record highs. The surge stems from structural

According to Jin10 and China's State Grain and Material Reserve Data Center, China's soybean oil futures prices rose modestly as of September 8. The Dalian Commodity Exchange soybean oil 2701 contract closed at 9,189 yuan/ton, up 17 yuan/ton or 0.19% from the previous trading day and 1.00%

According to Shanghai Steel Union, MMLC battery-grade lithium carbonate was quoted at 142,950 yuan/ton in early trading today (September 9), up 200 yuan/ton from the previous day's 16:30 closing price.

Dan Struyven, co-head of commodities research at Goldman Sachs, warned on the 8th (local time) during a CNBC interview that oil prices could reach $120 per barrel, calling it a 'fully possible scenario' as Brent crude futures approach $100. The warning stems from the 7-month US-Iran conflict, with S

According to Goldman Sachs commodity research co-head Dan Struyven on September 8, international crude oil prices could reach $120 per barrel if Middle East conflicts escalate maritime attacks and prevent supply recovery. Speaking on CNBC, Struyven cited intensifying U.S.-Iran tensions and

According to commodity shipping data, six bulk carriers transited the Strait of Hormuz on Tuesday (September 8), down from an average of 12 vessels over the past ten days.

According to LME data, copper futures touched a historic high of $14,533 per ton on September 7, surpassing January's previous record. Copper prices are up 17% year-to-date and 47% over the past 12 months. The surge is driven by structural demand growth from AI data centers, renewable energy

According to China's National Bureau of Statistics, the country's Producer Price Index (PPI) rose 3.8% year-over-year in August, with the increase expanding 0.3 percentage points compared to July. Coal mining and washing led gains at 26.6%, followed by nonferrous metal smelting at 20.8%, while

According to China's National Bureau of Statistics, producer prices (PPI) rose 0.4% month-on-month on September 9, reversing from a 0.7% decline last month. International oil and non-ferrous metal price increases drove domestic price gains across multiple sectors, with crude oil extraction,

According to China's National Bureau of Statistics, on September 9, the country's consumer price index (CPI) rose 0.8% year-over-year in September, up 0.3 percentage points from August. Energy prices expanded from a 0.6% increase to 4.1%, contributing approximately 0.28 percentage points to the over

As of the latest energy futures quotes at 09:30 AM Beijing time on Sept. 9, WTI crude oil futures rose 0.28% while U.S. natural gas futures fell 0.69%.

According to China's National Bureau of Statistics, released on September 9, the Consumer Price Index (CPI) rose 0.4% month-over-month in August, with the year-over-year increase rebounding to 0.8%. Core CPI, which excludes food and energy prices, climbed 1.0% year-over-year.