Commodity Market Update
Advisory Bazaar Info Services LLP
🔹 Base Metals (China)
Most base metals traded higher during the midday session in the Chinese domestic market.
* 🟠 SHFE Copper: Slightly lower
* 🟢 Aluminum: +0.45%
* 🟢 Lead: +1.02%
* 🟢 Zinc: +1.47%
* 🟢 Tin: +0.27%
* 🟢 Nickel: +1.05%
Other Metals:
* Casting Aluminum: +0.50%
* Alumina: -0.66%
* Lithium Carbonate: +4.24%
* Silicon Metal: +0.67%
* Polysilicon: +0.51%
🔹 Ferrous Metals
All major ferrous metals traded in positive territory.
* Iron Ore: +1.15%
* Rebar: +0.52%
* Hot-Rolled Coil (HRC): +0.46%
* Stainless Steel: +0.61%
* Coking Coal: +1.30%
* Coke: +1.40%
🔹 LME Base Metals
Most metals on the London Metal Exchange also remained firm.
* LME Copper: +0.27%
* Aluminum: +0.17%
* Lead: +0.42%
* Zinc: +0.75%
* Tin: Slightly higher
* Nickel: +0.58%
🔹 Bullion Market
* COMEX Gold: -0.46%
* COMEX Silver: -0.30%
* SHFE Gold: +0.86%
* SHFE Silver: +1.55%
* Platinum: -0.10%
* Palladium: -0.38%
Silver continued to receive support from ongoing geopolitical tensions, although physical spot demand remained relatively weak.
🌍 China Macro Update
* China has set an ambitious target to significantly expand its renewable energy capacity by 2030.
* Beijing has added 10 new smart home and AI-powered product categories to its 2026 consumer subsidy program.
* In Guangdong, first-half production of industrial robots increased by 34.2%, while integrated circuit output rose 29.7% year-on-year.
* The People’s Bank of China (PBOC) withdrew a net 422 billion yuan through open market operations today.
💵 US Dollar & Federal Reserve
* Dollar Index: 100.98, down 0.14%.
* Rising energy prices have intensified inflation concerns.
CME FedWatch Probabilities:
* July Meeting: 65.3% chance of no rate change; 34.7% chance of a 25-basis-point hike.
* By September: 54.9% probability of a 25-basis-point rate increase.
🇯🇵 Japan
Markets expect the Bank of Japan to keep its policy rate unchanged at 1.0% at the next meeting, while signaling only gradual future rate increases.
📅 Key Economic Events Today
* US Initial Jobless Claims
* Canada Retail Sales
* ECB Interest Rate Decision
* ECB President Christine Lagarde’s Press Conference
* Google and Tesla Q2 Earnings Results
🛢️ Crude Oil Update
* WTI Crude: +1.88%
* Brent Crude: +1.57%
Crude oil prices remain supported by escalating US-Iran tensions. Should geopolitical risks intensify further and disrupt supplies through the Strait of Hormuz or Bab el-Mandeb, Brent crude could potentially approach $100 per barrel.
Market Outlook
Base and ferrous metals continue to trade with a positive bias, supported by China’s stimulus measures, renewable energy initiatives, and persistent geopolitical tensions. Investors will closely monitor the upcoming Federal Reserve meeting, the ECB’s policy decision, and further developments in the US-Iran conflict for directional cues.