Commodities (Crude Oil & Copper) & Macro Outlook

According to AXIOS citing U.S. officials, oil tanker traffic through the southern route of the Strait of Hormuz has increased to 20–30 vessels per night in recent weeks, with daily cargo volumes reaching 9–10 million barrels of crude oil. This represents approximately 50 percent of pre-war

JPMorgan projects global food inflation could reach roughly 5% on an annualized basis in the first half of 2027, nearly doubling from an estimated 2.8% in the first half of 2026, according to a report titled 'Food Security is National Security' published July 24. The bank attributes the projected in

On August 28, lithium carbonate surged nearly 5% to approach previous highs after stabilizing above the 150,000 level. Apple futures recovered their full weekly losses amid tight supplies of early-season fruit due to weather

According to a JPMorgan report published July 24, global food inflation could rise to approximately 5% on an annualized basis in the first half of 2027, nearly doubling from an estimated 2.8% in the first half of 2026. The bank identifies two primary drivers: fractured fertilizer supply chains due t

According to AXIOS, over the past month Iran continues firing on vessels passing through the strait but has demonstrated limited precision strike capability. A U.S. official stated that only 2% of ships transiting the waterway have been

According to MoneyDJ, USA Rare Earth announced on August 24 the completion of a $1.55 billion capitalization for a special purpose vehicle overseeing the first phase production of the Serra Verde project, with the U.S. government contributing $750 million. The arrangement includes a magnetic rare

According to PressTV, on August 28, Iranian Parliament Speaker Mohammad Baqer Kalibaﻻf responded to remarks by U.S. Central Command's head claiming the U.S. military has taken full control of the Strait of Hormuz and cut off Iranian oil exports. Kalibaﻻf stated: "The rules of engagement are clear: e

According to Argus Media, wait times for vessels at the Panama Canal reached 19 days on August 28, the highest level since 2022, forcing LPG tankers to take unprecedented routes including circumnavigating South America. Ship-tracking data confirmed two ultra-large tankers conducted an unusual ship-t

According to Ukraine's General Staff, Ukrainian forces struck Russia's Yaroslavl oil refinery, one of the largest fuel production facilities, overnight on Aug 28, triggering a fire. The facility is located 280 km northeast of Moscow. Yaroslavl Governor Mikhail Yevrayev stated that all 67 drones

According to Jin10, major economic indicators are scheduled for release next week. The U.S. non-farm payroll data and unemployment rate for August will be published on September 4 at 20:30 (UTC+8), while the ISM Manufacturing PMI and ISM Services PMI are due on September 1 at 22:00 and September 3 a

On August 25, the U.S. Treasury unveiled Operation Economic Outcast, designating over 60 entities in Iran-related sectors including digital assets, technology, gold, aviation, and shipping. Two days later, President Trump signaled potential escalation, responding to questions about sanctioning

According to Jin10, Ukrainian forces have conducted at least 21 attacks on Russian oil refineries in August 2026 to date, marking the highest monthly toll on record. Ukraine has targeted four of Russia's

According to Ukrainian President Zelensky, on August 27, Ukraine struck an oil refinery in Yaroslavl region, located 1,000 kilometers from the front lines. Ukraine also responded to Russian military operations in the Black Sea by targeting a Tu-95MS missile carrier aircraft at an airbase in Engels u

Oil prices extended their downward trend intraday on August 28. WTI crude traded at $81.90 per barrel, while Brent crude fell 1.00% to $87.38 per barrel.

The Shanghai Futures Exchange released an amended version of its Market Maker Management Rules on August 28, which takes effect on September 11, 2026. The amended rules were approved by the exchange's board of directors and reported to the China Securities Regulatory Commission before

According to the London Metal Exchange (LME) on August 28, nickel inventories rose 48 tons while tin declined 40 tons. Copper inventories fell 1,300 tons and lead dropped 2,250 tons, the steepest decline among the metals tracked. Zinc inventories increased 75 tons and aluminum inventories

According to Jin10 data on August 28, Qatar Energy has extended force majeure on liquefied natural gas (LNG) supplies to European and Asian buyers. The extension follows stalled Iran negotiations and unresolved Strait of Hormuz transit uncertainties, which threaten regional energy

According to MoneyDJ, USA Rare Earth completed capital raise on August 24 for a special purpose vehicle backing its Serra Verde project's first phase production, raising $1.55 billion with $750 million contributed by the U.S. government. The arrangement includes a rare earth price floor and

According to JPMorgan's report published July 24, global food inflation is projected to reach approximately 5% on an annualized basis in the first half of 2027, nearly doubling from an estimated 2.8% in the first half of 2026. Analyst Nora Szentivanyi attributed the surge to two converging crises: a

According to Jin10 futures on August 28, the Dalian Commodity Exchange reported the following changes in chemical products warehouse receipts: Polyethylene futures receipts stood at 4,199 lots, down 137 lots from the previous trading day; Polyvinyl chloride (PVC) futures receipts reached 119,425 lot