Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 and SMM data, lithium carbonate futures (LC2701) fell 3.29% intraday on September 2 to 154,700 yuan/ton, while spot prices declined 3,500 yuan/ton to average 156,500 yuan/ton for battery-grade material. SMM forecasts September production will rise 10–12% to 124,000 tons, with

According to CME data, on September 1, gold trading volume increased 50,531 contracts to 226,973 contracts, yet open interest declined 4,194 contracts to 415,134 contracts, indicating elevated trading activity but reduced positioning. Copper saw both volume and open interest gains, with volume

According to Jin10, on Wednesday, September 2, Asian emerging market assets came under pressure as oil surged past $95 per barrel following a new U.S. airstrike on Iran, rattling the region's risk appetite. The Philippine peso hit an all-time low, posting the largest decline among Asian

According to data from Guangdax期货 and reports from Wall Street News, overnight tensions between the U.S. and Iran escalated as American forces targeted Iranian targets, with Trump warning of fiercer retaliation if Iran strikes back. Iran's key energy hub port was attacked, prompting an Iranian

According to Guru Club, on Wednesday, corn futures fell 1.8% to $5.37 per bushel, marking the largest decline in three weeks. The Chicago Board of Trade saw intraday losses of up to 1.8%, the steepest drop since August 13. Wheat declined 1.8% to $7.68 per bushel, while soybeans fell 1.1%. The

According to Jin10 Futures, China's domestic liquefied petroleum gas (LPG) price climbed to 6,197 yuan per ton as of September 1, up 430 yuan from mid-August. The rally reflects tight supply conditions: domestic refinery output increased in August but remains insufficient, while geopolitical

According to MoneyDJ, Indonesia's government resolved a rare earth export dispute in early August 2026 by implementing clearer export guidelines, allowing over 100 ships previously detained to resume shipping. The bottleneck originated in July when the government delayed issuing inspection reports

According to iNews24, South Korea's KOSPI index fell 3.19% to 6,617.90 on September 2 amid a sharp spike in U.S. 10-year Treasury yields to 4.79%, the highest level since January 2025. The surge was triggered by Middle East tensions, as the U.S. military conducted air strikes on Iran, causing WTI

According to Jin10, Valero Energy's Port Arthur refinery in Texas experienced a partial power outage on the evening of September 2 after Tropical Storm Edouard made landfall. The facility, with a daily production capacity of 385,000 barrels, accounts for 2% of U.S. total refinery capacity. As of

According to preliminary shipping data from Kpler released Wednesday, only 4 commodity vessels transited the Strait of Hormuz on Tuesday, below the previous day's 10 vessels and the 10-day average of approximately 13 vessels. The four vessels comprised 1 ULCC (ultra-large crude carrier), 1 Panamax t

According to Jin10, as of September 2, 11:37 UTC+8, China's futures market recorded significant net outflows across major contracts. CSI 1000 futures (September 2026 contract) led outflows at 6.502 billion CNY, followed by CSI 500 at 4.778 billion CNY and Shanghai Gold at 2.697 billion CNY. On the i

Two oil tankers transporting crude through the Strait of Hormuz were struck on May 31 (local time), according to two maritime security experts cited by the Financial Times. The vessels were identified as the Senegal Prosperity, owned by Korean shipping company Jangkeum Sangson (Sinoco), and the

According to maritime security experts cited by Financial Times, two tankers including the South Korean-owned Senegal Prosperity and Saudi-owned Sidra were hit by unidentified projectiles on August 31 in the Strait of Hormuz. The attacks followed U.S. airstrikes targeting Iranian Islamic

According to Jin10, copper prices fell below $14,200 per ton on September 2, marking the second consecutive trading day of losses as oil rallied for a third straight session, intensifying global growth concerns. Rising tensions around the Hormuz Strait and Iran developments clouded near-term

According to BlockBeats citing TradingBeats, on September 2, U.S.-Iran tensions escalated with mutual strikes, raising supply risks in the Strait of Hormuz. WTI crude oil surged 5.2% to $90.22 and Brent rose 4.6% to $94.65, both reaching five-week highs. Meanwhile, a major short trader (0x0c4a) on H

According to Yonhap Infomax, on Sept 2 morning (Asia market time 9:44 a.m. KST), S&P 500 E-mini futures rose 0.02% to 7,644.00, while Nasdaq-100 E-mini futures gained 0.05% to 29,141.25, amid escalating Middle East geopolitical tensions. WTI crude oil futures surged above $91 per barrel, reaching t

According to CNBC, on September 1, the U.S. military completed airstrikes targeting Iranian air defense, communications, and radar facilities. Iran retaliated by launching missiles at Jordan; the Jordanian military intercepted 10 of 13 missiles, with three falling in remote areas and causing no

The USD-KRW exchange rate remained flat around the 1,370 won level on September 2nd at 9:26 AM, as selling pressure at high levels offset Middle East geopolitical risks. The rate traded at 1,370.70 won, up 0.30 won from the previous Seoul session close of 1,370.40 won. The limited upward movement

U.S. Energy Secretary Wright has arrived in Venezuela. According to Wright's statement, the Trump administration aims to reach new energy agreements, open doors for American businesses, and strengthen energy security across the

According to Jin10, commodity options rallied significantly on September 2 at 10:40. Crude oil 2610 calls surged 482.35% to 24.75 yuan/barrel, PTA 2610 calls climbed 215.79% to 60.0 yuan/ton, methanol 2610 calls rose 212.0% to 39.0 yuan/ton, and plastic 2610 calls gained 206.45% to 47.5 yuan/ton.