Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, on July 10, Chinese commodity futures declined in early morning trading. SC crude oil dropped over 3%, coking coal fell nearly 3%, and pure benzene and coke declined over 2%. On the upside, Shanghai silver rose over 3%, wood pulp and Shanghai tin gained over 2%.

According to Taiwan's Ministry of Finance, Taiwan's exports rose 40.3% year-on-year to US$74.83 billion in June, extending export growth to 32 consecutive months. Information, communications, and audio-video products shipments surged 72.3% to US$33.92 billion, while electronic component exports,

According to Jin10 Futures citing Longzhong Info, China's organic silicon DMC industry reported a weekly average capacity utilization rate of 61.79% for the week ending July 9, unchanged from the previous week. Weekly output among 13 sample enterprises stood at 40,700 tons, remaining stable

Bitcoin (BTC) rebounded to $63,000 on July 10, but the bulls then showed weakness. US May PCE inflation came in at 4.1%, and the Kalshi prediction market puts the probability of rate hikes within the year at 54%. As tensions between the US and Iran escalate, the US military has attacked 90 targets inside Iran, and navigation through the Strait of Hormuz is again under threat. US-Iran Conflict Escalates: US Attacks 90 Targets, Iran Strikes Back Across the Four Countries in the Persian Gulf Accord

According to Jin10, as of July 10, 8:30 AM UTC, spot silver and Brent crude oil were among the most volatile commodities in overnight trading, with international price swings expected to be reflected in domestic futures

US stock markets rose on July 9 (local time), with the Dow Jones Industrial Average gaining 0.27%, the S&P 500 rising 0.81%, and the Nasdaq Composite climbing 1.3%. Bargain buying emerged amid expectations that the US-Iran military engagement would be short-lived, while Micron Technology's

According to CITIC Securities and SMM data, rare earth production dropped 6% in June, with recycled praseodymium-neodymium oxide declining to 37% of total output from 44% in May. On the supply side, tightening waste availability and lower refinery utilization rates constrain near-term output

According to Jin10 Futures, on July 10, crude oil prices declined amid easing geopolitical tensions, weakening cost support for the PX market.

According to CFTC announcement reported by PANews on July 10, the U.S. Commodity Futures Trading Commission (CFTC) halted the Chicago Mercantile Exchange (CME) crude oil futures 24/7 trading contracts originally scheduled to launch as early as July 11. The CFTC stated it is exercising its

According to Jin10 Futures, on July 10, crude oil prices reversed from gains to decline overnight, with fuel oil market trading activity remaining cautious as downstream demand confidence weakened. Part of fuel oil products faced oversupply conditions, with refineries under pressure on shipments.

According to The Block on July 10, the White House sent a letter to Senate leadership rebuting Democratic criticism over the Trump administration's failure to appoint CFTC commissioners. The CFTC currently has only one commissioner in office—Republican chair Michael Selig—out of five authorized

Japan's domestic corporate goods price index rose 7.1% year-over-year in June, exceeding the expected 6.8% and up from 6.3% in the prior month.

According to Seoul Bond Market data on July 10, South Korea's 3-year Treasury futures rose 5 ticks to 103.14 in overnight trading, while 10-year futures gained 16 ticks to 106.05. Foreign investors net-bought 39 contracts in the 3-year segment, with retail investors adding 18 contracts. U.S. Treasu

According to Korean Economic TV, all three major U.S. stock indices gained overnight on July 8. The Dow Jones Industrial Average rose 0.27%, while the S&P 500 and Nasdaq advanced 0.81% and 1.3%, respectively. International crude oil prices declined roughly 2% amid ongoing U.S.-Iran

US and Iran engaged in military conflict for three days around the Hormuz Strait, yet international oil prices fell on the 9th (US Eastern Time). WTI crude for August delivery dropped $1.44 (1.96%) to close at $72.08 per

According to Yonhapinfomax, oil prices declined on July 9 despite the fourth consecutive day of military exchanges between the United States and Iran. August delivery West Texas Intermediate crude fell $1.44, or 1.96%, to close at $72.08 per barrel on the New York Mercantile Exchange. Brent crude fo

According to Nigeria's upstream petroleum regulator NUPRC, Exxon Mobil and its partners will invest $1 billion in the Usan Infill Project, an offshore oil development project, earlier this week. The investment is expected to increase daily crude production by 40,000 barrels per day. The project

On Friday, WTI crude oil futures opened down 0.4% to $71.81 per barrel. Investors are weighing geopolitical risks related to Iran amid broader market uncertainty.

US Treasury bond prices rose for the first time in three days on the 9th afternoon at 3pm Eastern Time, with short-term maturities showing relative strength. The 10-year Treasury yield fell 2.80 basis points to 4.5390%, while the 2-year yield dropped 3.50bp to 4.1640%, according to Yonhap Infomax

On Thursday (July 9), the U.S. dollar index fell to 100.96, driven by declining oil prices and Federal Reserve meeting minutes that revealed significant policy divisions among officials. The June 16-17 FOMC minutes released Wednesday showed that while the Fed kept rates unchanged, policymakers