Commodities (Crude Oil & Copper) & Macro Outlook

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

South Korea's imports in the first 20 days of October surged 42.8% year-on-year, up significantly from 26.7% in the previous period.

According to Jin10, ICE cotton futures rose slightly on Tuesday (October 21), supported by a weakening U.S. dollar. The dollar declined as crude oil prices and longer-dated U.S. Treasury yields retreated. Brent crude briefly reached a five-month high amid escalating Middle East tensions, providing s

According to reports, CBOT wheat futures fell to their lowest level in more than three months on Tuesday, driven by technical selling, fund liquidations, and spillover pressure from declining corn and soybean prices. Traders continued to assess the impact of the Russia-Ukraine war on Black Sea

According to Haitong Futures and Shandong Gold Futures, on October 21, escalating Middle East tensions are driving international crude oil prices higher. Iran has intensified attacks on vessels transiting the Strait of Hormuz this week, while the U.S. plans to resume limited strikes against Iran.

The USD-KRW exchange rate closed at 1,326.00 won on the 21st day at 6am, down 2.10 won from the previous Seoul session close and down 7.10 won from the previous 6am close, as global dollar weakness and falling international oil prices followed expectations of US-Iran dialogue. The decline was

According to Yonhapinfomax, the USD/KRW exchange rate fell 2.10 won to 1,326.00 won on October 21, marking its third consecutive day at a new low. The decline was driven by weakening global dollar demand following expanded expectations of US-Iran negotiations, with Qatar and Pakistan reportedly

Commodity brokers including ADM Investor Services, BGC Group and Nanhua USA LLC are preparing to trade derivatives based on AI computing power rental costs, pending US regulatory approval with a CFTC comment period closing October 20, 2026. The cash-settled futures contracts would track hourly renta

According to Crypto Briefing, the CFTC's comment period on AI compute futures closes today (October 20, 2026), with CME Group's product review extended to November 9. Commodity brokers including ADM Investor Services, BGC Group, and Nanhua USA are preparing to trade cash-settled derivatives tied to

On Tuesday, October 20, the Trump administration faced a lawsuit from food importing companies over the imposition of 50% tariffs on Canadian goods. The importers contend that the president lacks the authority to invoke a rarely used U.S. law provision to impose tariffs on Canada, alleging the

US Stock Market News showed broad gains on Tuesday as strong earnings from Equifax, Hasbro and other companies boosted investor sentiment, while oil prices retreated from near their highest levels since the war with Iran began in late February. The S&P 500 added 0.3%, the Dow Jones Industrial