Aluminium prices fell on Wednesday as U.S. President Donald Trump said his administration was considering imposing a 10% tariff on Chinese imports from Feb. 1, inflating fears of a trade war. Three-month aluminium ALI1! on the London Metal Exchange (LME) was down 0.9% at $2,622.50 a metric ton by 1114 GMT, while copper HG1! fell 0.3% to $9,252. Trump said late on Tuesday that his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada ...

Malaysian palm oil futures snapped a three-session rally on Wednesday, weighed down by cargo surveyor data showing weak export demand and a stronger ringgit. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange lost 52 ringgit, or 1.22%, to 4,208 ringgit ($949.24) a metric ton at closing. “Crude palm oil futures are range trading between 4,180 and 4,280 ringgit while waiting for new leads on the back of weak exports and slower production,” a Kuala Lumpur-based trader said. Exports of Malaysian palm oil products for ...

Iron ore futures declined on Wednesday, weighed down by concerns that U.S. President Donald Trump could impose higher tariffs on Chinese imports. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended daytime trade 0.44% lower at 800.5 yuan ($109.94) a metric ton, ending a nine-session rally. The benchmark February iron ore (SZZFG5) on the Singapore Exchange fell 1.1% to $103.6 a ton by 0726 GMT. Trump did not immediately impose tariffs upon his inauguration, which supported prices on Tuesday, said Chinese consultancy Galaxy Futures. However, ...

Soybean crush in Brazil is expected to reach a new record in 2025, according to industry estimates, reflecting the anticipated higher soybean oil demand for biodiesel production and signaling ongoing pressure over soybean meal prices. According to the Brazilian Association of Vegetable Oil Industries, or Abiove, Brazil is likely to crush 57.10 million mt of soybeans in 2025, an increase compared to 55 million mt seen in 2024, as the country’s harvest is also projected to reach a historic volume of 171.70 million mt. Abiove’s projection compares with a processing ...

Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Wednesday. WHEAT – Up 2 to 4 cents per bushel CBOT wheat futures head higher on a setback in the dollar, which tends to make U.S. grains more competitive globally, and worries about freeze damage to dormant winter wheat this week in portions of the U.S. Plains and Midwest. CBOT March wheat (WH25) rose to $5.62-3/4 per bushel ahead of the daily pause in ...

Zambia’s copper output rose 12% in 2024, buoyed by a recovery in production at key mines as the government counts on the sector to drive economic growth. Output reached roughly 820,670 metric tons, up from 732,580 tons the year before, Mines Minister Paul Kabuswe said on Wednesday. Barrick Gold’s ABX Lumwana mine ramped up output and Vedanta Resources’ VEDL Konkola Copper Mines (KCM) resumed activities. Output also picked up at Mopani Copper Mines, which was recently bought by United Arab Emirates firm, International Resources Holding. Kabuswe said production rose despite ...

Russian crude exports have surged despite sanctions, while Canadian crude prices have dropped amid tariff threats. Additionally, S&P Global Commodity Insights editors are analyzing the EU stainless steel scrap market and rising chicken demand in the UAE ahead of Ramadan. 1. Russian seaborne crude exports increase What’s happening? Russian seaborne crude exports reached a seven-week high of 3.8 million b/d in the week ending Jan. 19, marking a 24% increase from 3.07 million b/d the previous week, despite a crackdown on shadow fleet tankers. However, Russian fuel and oil product ...

The stainless steel scrap outlook in Europe remains foggy as the market enters the new year on the back of waning demand and weak industrial activity in Europe, alongside continued finished stainless steel pricing pressure from Chinese overcapacity. Scrap market liquidity remained quiet in Europe in the opening week of 2025 as higher relative prices in India saw stainless scrap prices on a CIF Nhava Sheva/Mundra basis around a $100/mt premium compared to CIF Rotterdam in early January, leaving Europe as a less favorable destination for stainless scrap, market sources ...

Speculators have been busy stuffing their bullish Chicago corn bets to the brim, but last week they gave soybeans a nod of confidence for the first time in over a year. Tightening global corn supplies have had investors’ attention for months, though it has recently become apparent that soybean stocks later this year may not be as ample as previously thought. The U.S. Department of Agriculture on Jan. 10 revealed that the 2024 U.S. corn and soybean harvests were substantially smaller than analysts expected, causing an enormous round of short ...

Most base metals fell on Wednesday, with copper pulling back from a more than one-month peak hit in the previous session, as uncertainty persisted over U.S. President Donald Trump’s plans for tariffs. Trump said late on Tuesday that his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada would face levies of around 25%. He also vowed duties on European imports without providing further details. “Investors are grappling with the unpredictability of President Trump’s ...

Chicago corn futures hit a more than one-year high on Tuesday, with soybeans also rising on worries of a drought in Argentina and rains in Brazil. The most active corn contract on the Chicago Board of Trade (CBOT) ZC1! was up 0.5% to $4.86-1/2 a bushel at 1153 GMT, after hitting $4.90-1/2 in overnight trade, the highest since Dec. 8, 2023. The exchange was shut on Monday for the Martin Luther King Jr. Day holiday. CBOT soybeans ZS1! were up 1.45% to $10.49-1/4 a bushel. Wheat ZW1! was up 1.4% ...

Malaysian palm oil futures climbed for a third straight session on Tuesday, supported by strength in Dalian and Chicago vegetable oils. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange gained 54 ringgit, or 1.28%, to 4,260 ringgit ($952.38) a metric ton at closing. “Bursa Malaysia crude palm oil (CPO) is tracking gains in Dalian Commodity Exchange and Chicago soyoil, and some bargain hunting as well after holding above 4,200 ringgit,” a Kuala Lumpur-based trader said, adding that market participants also awaited production update for ...

Dalian iron ore futures rose for a ninth straight session on Tuesday as U.S. President Donald Trump did not immediately impose tariffs on trading partners, but kept investors on edge with his tariff plans, which capped the gains. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.56% higher at 804.5 yuan ($110.57) a metric ton. Earlier in the session, it touched the highest since Dec. 12, 2024, at 808 yuan. The benchmark February iron ore on the Singapore Exchange was 0.99% higher at ...

BHP Group BHP said on Tuesday its iron ore production inched ahead in the December quarter, while its copper output surged 17% after improvements at its Escondida mine in Chile. The world’s largest listed miner has completed an efficiency drive at its South Flank iron ore operations in Western Australia, delivering quarterly production of 73.1 million metric tons compared with 72.7 million tons in the same quarter last year. That was largely in-line with the Visible Alpha consensus estimate of 72.8 million tons. In copper production, which is increasingly the ...

Base metals fell on Tuesday as the risk of possible trade wars hurting current trade flows resurfaced after President Donald Trump suggested the United States could impose a 25% tariff on imports from Canada and Mexico from Feb. 1. Three-month copper on the London Metal Exchange (LME) lost 1.1% to $9,171.50 a metric ton by 1045 GMT, while aluminium ALI1! was down 1.3% at $2,656. Copper and aluminium hit their highest since Dec. 11 and Nov. 25, respectively, on Monday as Trump in his inauguration address neither immediately imposed import ...