Commodities (Crude Oil & Copper) & Macro Outlook

According to data released by Japan's Ministry of Finance on October 21, Japan's imports in the first half of fiscal year 2026 (April-September) reached a record high of 66.27 trillion yen, up 20.4% year-over-year, with crude oil imports surging 26.3% to 5.74 trillion yen amid Middle East

According to Vice Minister Li Gao of China's Ministry of Ecology and Environment, announced on October 21, the national carbon emission trading market has achieved cumulative trading volume exceeding 1 billion tons since its launch over five years ago. The market currently controls

According to Shanghai Steel Union, battery-grade lithium carbonate (MMLC) traded at 102,050 yuan per ton in early trading today (October 21), down 100 yuan per ton from yesterday's 4:30 PM close.

According to Jin10 Futures, Malaysia Derivatives Exchange crude palm oil futures are expected to open higher on Wednesday (Oct 21), driven by improving exports and stronger Chicago soybean oil prices. Brent crude oil rebounded during Wednesday's electronic trading session, providing additional

On October 21, U.S. soybean futures fell for a seventh consecutive session, breaking below the 50-day moving average and approaching the 12.40 long-term support level. Separately, oil prices surged in early trading following reports of a tanker incident near the Strait of Hormuz, but gains were

Vietnam's PetroVietnam is seeking a 3.4 million MMBtu spot liquefied natural gas cargo for delivery between November 9-12.

According to a research report from Guoxin Futures on October 21, aluminum prices faced weakened market sentiment ahead of the Federal Reserve meeting, with empty seasonal demand and anticipated supply recovery driving selling pressure on Shanghai aluminum futures. On the supply side, tight

China's September gasoline output reached 11.457 million tons, declining 13.6% year-over-year, according to official production data. Diesel output totaled 15.721 million tons, down 9.8% from the same period last year. Other petroleum products including kerosene (5.232 million tons, -1.5% YoY),

WTI crude oil futures rose over 1% intraday on October 21, with prices trading at $98.80 per barrel.

Early trading on October 21, China's futures market showed a mixed session dominated by declines. Containership Europe benchmark slumped over 5%, while SC crude oil fell over 3% and fuel oil dropped nearly 3%. LPG and low-sulfur fuel oil both lost near 2%. Gainers included Shanghai nickel, up nearl

According to Jin10 Futures, on October 21, crude oil retraced from highs but remained elevated, while fuel oil downstream buyers showed steady near-term demand. High-level trading sentiment remained cautious amid moderate market interest. Fuel oil pricing was expected to hold stable in parts with

According to Jin10 Futures research report, Qatar and Pakistan mediators proposed a new framework for U.S.-Iran nuclear negotiations on October 21. The proposal includes provisions for Iran to allow International Atomic Energy Agency inspections of its nuclear facilities and the U.S. to grant Iran a

According to the Bank for International Settlements, on October 20, the BIS released a working paper warning that the Iran war could drive inflation up by 1.5%-2.0% through 2027, with most of the increase stemming from higher energy costs. The report noted that while the effect would be

Ahead of the US midterm elections on November 3, inflation and living cost burdens are threatening the ruling Republican Party's ability to maintain its congressional majority. Energy price increases from the Iran war are driving up inflation and eroding real wages, while also increasing housing

South Korea's exports reached $61.6 billion from October 1 to 20, surging 105.4% year-over-year to set a record high for this period, according to Korea Customs Service data released on October 21. The spike was driven by semiconductor exports, which soared 222.5% to $27.5 billion, also a record for

According to Jin10 Futures, South China's liquefied petroleum gas (LPG) market continued its downward trend on October 21, with refinery price declines moderating but port quotations following suit. The price spread between refinery and port remained compressed. Downstream buyers maintained

US stocks closed mixed on October 20 (local time), with the Dow Jones Industrial Average rising 1.02% and the S&P 500 gaining 0.28%, while the Nasdaq Composite edged down 0.02%. Traditional industrial sectors and blue-chip stocks advanced on strong corporate earnings, but technology stocks failed to

HMM is projected to recover Q3 operating profit to the 1 trillion won level for the first time in 2 years, driven by surging global maritime freight rates and supply bottlenecks from port congestion. The South Korean shipping company's profitability improvement stems from peak season cargo volume st

According to Yonhap Infomax's analysis of major securities reports published on October 21, HMM's third-quarter consolidated revenue is expected to reach 4.11 trillion won, up 51.78% year-over-year, while operating profit is forecast to jump 244.96% to 1.02 trillion won, marking a return to the tril

According to Jin10 Futures, international crude oil prices fell on October 21, weakening support for the PX market. End-use demand softened, exerting downward pressure on prices. The PX market is expected to trade weakly