Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, on June 12, Shanghai Futures Exchange energy and chemical commodity warehouse inventory data showed mixed movements. Pulp futures warehouse inventory reached 236,681 tons, up 872 tons day-on-day. Coated paper futures warehouse inventory stood at 1,557 tons, up 600 tons.

According to ChainCatcher, Federated Hermes announced the recent launch of Federated Hermes Money Market Management Digital Treasury Fund, designed to meet GENIUS Act stablecoin regulatory requirements. The fund is open to stablecoin issuers, institutional investors, and retail investors. Assets he

According to UNCTAD's June Global Trade Update report, global lithium demand is projected to grow 353% from 2024 to 2040, while graphite demand will increase 131%. Lithium's share of clean technology demand is expected to rise from 62% in 2024 to 87% by 2040. In 2025, the Democratic Republic of

According to Axios on June 11, the Trump administration's forthcoming U.S.-Iran memorandum of understanding includes the immediate reopening of the Strait of Hormuz with no transit fees, as well as sanctions relief for Iran based on compliance with the agreement's

According to Goldman Sachs on June 12, the bank lowered its 2027 Brent crude oil price forecast to $80 per barrel, citing sustained global supply expansion and weakening demand. For Q4 2026, Goldman Sachs projects average Brent prices around $90/barrel. While maintaining a near-term positive

According to Bloomberg, CME Group announced plans to introduce 24/7 trading for gold and WTI crude oil futures products. Micro WTI crude oil futures contracts, sized at one-tenth of the existing WTI contract, will launch on August 30. One-ounce gold futures contracts will begin 24/7 trading

According to Guru Club, crude oil (SC) futures fell 6.11% to 550.2 yuan per barrel on June 12, with low-sulfur fuel oil (LU) down 4.59% to 4,508 yuan per ton, fuel oil declining 4.30% to 3,609 yuan per ton, and asphalt slipping 1.40% to 4,442 yuan per ton.

According to BlockBeats citing Hyperinsight data, on June 12, oil prices extended declines following reports that a peace agreement between the U.S. and Iran could be signed as early as this weekend, with plans to reopen the Strait of Hormuz and eliminate transit fees. WTI crude dropped 5.45% in 24

According to KazTransOil, Kazakhstan's state oil transport company, the country exported oil to Germany in May.

Fuel oil futures fell 4% intraday to 3,616 yuan/ton on June 12.

According to pricing documents, Kuwait has significantly cut crude oil prices for Asia effective in July.

According to Foresight News, trading app fomo launched perpetual futures functionality, supported by Hyperliquid and trade.xyz. Users can now trade perpetual contracts across stocks, Pre-IPO shares, cryptocurrencies, indices, and commodities within the fomo

According to Kpler, in May, the U.S. became India's largest supplier of liquefied petroleum gas (LPG) and liquefied natural gas (LNG). The U.S. exported 630,000 tons of LPG that month, surpassing combined supplies from all Gulf countries by approximately 60%, which totaled 380,000 tons.

According to ChainCatcher, an upcoming U.S.-Iran memorandum of understanding requires the Strait of Hormuz to reopen immediately without transit fees and restore to pre-war shipping levels within 30 days. In exchange, the U.S. will lift related blockades and allow Iran to resume oil exports. Iran

According to Axios, WTI crude oil fell more than 1% during intraday trading on June 12. The U.S. and Iran have reached consensus on the text of a memorandum of understanding, though final approval remains

According to Guru Club, on June 12, coke futures (September 2026 contract) surged 5.03% to 2,108 yuan per ton, while coking coal futures climbed 2.68% to 1,395 yuan per ton.

According to Guru Club, lithium carbonate futures rose over 4% on June 12, trading at 178,220 yuan per ton.

On June 12, U.S. President Trump announced the end of the war with Iran at a phone rally in Georgia, saying Iran has agreed to never possess nuclear weapons. In the previous 36 hours, the U.S. military launched airstrikes at multiple targets in Iran, while Iran retaliated with drones and missiles and announced a blockade of the Strait of Hormuz. During the blockade, global oil prices rose. The Strait of Hormuz is a critical passage for roughly 1 out of every 5 barrels of crude oil worldwide. Tai

美國聯邦巡迴上訴法院延長對美國國際貿易法院裁決的阻止令，允許在訴訟期間繼續徵收特朗普於2月依《貿易法》第122條實施的10%全球關稅；此前最高法院已以IEEPA為基礎否決類似關稅，現案可能再度送上最高法院審理。另一方面，川普推動的彈劾抹除決議被認為法理價值極低，憲法未支持撤銷彈劾的程序，審議多半要等期中選後，票數亦難以過半。

According to Bloomberg, CME Group announced on June 12 plans to introduce 24-hour WTI crude oil and gold futures contracts. The new crude oil contract will be one-tenth the size of existing micro WTI futures and is scheduled to launch on August 30, while a one-ounce gold contract with 24/7 trading w