Commodities (Crude Oil & Copper) & Macro Outlook

According to China Iron and Steel Association, China exported 10.121 million tons of steel in July, down 1.9% month-on-month but up 2.9% year-on-year. The export price averaged $715.7 per ton, up 0.7% month-on-month and up 1.9% year-on-year.

According to the U.S. Environmental Protection Agency, Chicago soybean futures reached their highest level since 2023 this week, following the agency's announcement of 1.76 billion renewable fuel credit exemptions for 2025—the largest package issued to

As of September 1, Bitcoin had edged back up to around $78,770 but still failed to reclaim the $80,000 mark. Iran launched missiles overnight at two U.S. Air Force bases in Jordan, and U.S. President Trump said in the White House Oval Office and in an interview with Fox News, “We’re going to hit them hard.” Trump also said U.S. GDP growth could reach as high as 20% and stated that such growth would not cause inflation, arguing against Fed rate hikes despite strong economic data. Direct U.S.-Iran

According to data released by Kpler on September 1, five vessels transited the Strait of Hormuz region on August 31, remaining relatively flat compared to the previous weekend but well below the 10-day average of approximately 14 vessels. Of the five ships, four entered the strait with no tankers pr

According to BlockBeats, trader xm39 significantly expanded a WTI crude oil long position on Hyperliquid on Sept. 1, increasing holdings to 34.04 million shares through multiple rolling operations. The position grew by 25.91 million shares—a 319% increase from before the operations—with an

According to Jin Lian Chuang, China's LNG supply volume in August 2026 reached 50.1 billion cubic meters, up 1.2% month-on-month but down 9.4% year-over-year. Imported LNG volume surged 9.3% to 11.7 billion cubic meters, offsetting a slight decline in domestic production to 38.4 billion cubic meters

According to Barron's, the Trump administration reached an oil agreement with Venezuela last Friday, securing control of 17 oil fields containing approximately 65 billion barrels of proven oil reserves. The deal, which will be funded through warrant payments without burdening U.S. taxpayers, is

South Korea's Ministry of Industry announced on Sept 1 its 2027 budget at 13.26 trillion won, a 40.5% increase from 2026 and the largest since the ministry's establishment in 2013. Including allocations from the Future Response Fund, the actual budget reaches 14.17 trillion won. The ministry establi

According to Guru Club, zinc prices reached their highest level in over four years on September 1, extending a months-long rally driven by tight supply conditions. The metal gained 27% year-to-date and posted its fifth consecutive monthly gain in August, significantly outpacing copper and

According to Guru Club, on September 1, methanol futures surged 7% intraday to 3,115 yuan per ton, while styrene (EB) futures rose 4% to 9,270 yuan per ton.

The Trump administration's effort to secure Venezuelan oil has failed to curb soaring US gasoline prices, with the national average reaching $4.08 per gallon as of May 31, according to the American Automobile Association (AAA). The renewed military confrontation between the US and Iran after a one-m

According to the American Automobile Association, U.S. regular gasoline prices hit $4.08 per gallon on August 31, marking their sustained elevation following renewed military conflict between the United States and Iran. International crude oil prices surged back above $90 per barrel, with November

According to Reuters, commodity vessel transits through the Strait of Hormuz remained largely unchanged on Monday, staying in single digits.

According to Guru Club, ethylene glycol futures main contract surged nearly 8% intraday on September 1, rising 400 yuan to trade at 5,594 yuan/ton.

According to Shanghai Steel Union data released today, MMLC battery-grade lithium carbonate (early session) traded at a mid-price of 159,250 yuan per ton, up 750 yuan per ton from yesterday's 4:30 PM closing price.

Japanese stock markets showed mixed performance on September 1st as Middle East tensions escalated, with the Nikkei 225 falling 605.66 points (0.91%) to 65,706.27 as of 9:10 AM, while the Topix index rose 0.06% to 4,158.95. The decline followed renewed US-Iran military exchanges on the night of the

According to Yonhapnews, Japan's Nikkei 225 index fell 0.91% to 65,706.27 on the morning of September 1 as Middle East tensions reignited. The decline followed renewed military exchanges between the U.S. and Iran overnight: the U.S. military conducted airstrikes on Iranian Islamic Revolutionary

According to the UK Maritime Trade Operations Office, a tanker was struck by three unidentified projectiles on August 31 while departing the Strait of Hormuz, approximately 17 nautical miles east of Salalah, Oman. The authority reported no casualties or environmental damage from the incident and

According to Odaily, the Chicago Mercantile Exchange (CME) launched a new WTI crude oil futures contract last Sunday, representing just 10 barrels with a trading size of approximately $860 at current prices. The new offering complements CME's existing micro WTI contract (100 barrels) and standard co