East Asia

European traders reported that the 'Major Feedmill Group' (MFG) of South Korea purchased approximately 135,000 metric tonnes of 'animal feed corn on Friday in an international tender that sought up to?to?210,000 tons. Two consignments were purchased at the end of the tender. A third consignment, also requested in the tender, was not believed to be purchased after negotiations. It was possible to source corn from South America, the United States or Africa. A 67,000-ton consignment was purchased for an estimated cost and freight of $251.23 per ton plus a $1.50 surcharge per ton to cover additional port unloading. It was...

Local media reported that Panamanian officials searched offices connected to the Panama Ports Company (the local 'unit of Hong Kong conglomerate CK Hutchison), on Thursday. CK Hutchison did not respond immediately to a comment request. Neither did the Panamanian authorities. Local TVN showed pictures of about a dozen individuals, some of whom were wearing vests with the initials DIJ of Panama's Investigative Police, located in an underground parking garage in Albrook, a high-end area of Panama City. Images showed people loading cardboard boxes into a police truck. The images did not show the name of the location, so it was...

The High Court of London denied Indian businessman Prateek gupta permission to appeal against a ruling that found him guilty of defrauding commodities trader Trafigura over fake nickel cargoes. Geneva-based Trafigura accused?Gupta? of being the mastermind behind a fraudulent "Ponzi Scheme" where he and his company agreed to deliver high-quality nickel 99.8% but delivered low-value materials or even worthless ones instead. Gupta admits he didn't deliver high-grade nickel cargoes, but claims Trafigura employees devised the plan. Trafigura’s former?head Nickel trader Sokratis Oikonomou denies this. Last month, Judge Pushpinder saini ruled that Gupta's companies and Gupta induced Trafigura to sign contracts...

Hong Kong conglomerate CK Hutchison announced on Tuesday that Panama authorities had threatened to prosecute its employees if they 'defied orders' to leave two strategically important canal ports in the midst of a legal dispute which has involved Beijing and Washington. CK?Hutchison? said that Panama's decision of cancelling key port contracts and granting temporary licences to Maersk & the Mediterranean Shipping (MSC), was 'illegal', and it is considering national and international legal actions against the country. Panama published Monday in its official gazette a Supreme Court decision cancelling key port contracts by a subsidiary known as Panama Ports Company, a...

Show reports that an?arbitration suit filed in Hong Kong by the owners of the global?logistics firm Access World could cause financial risk for the group. This could have a ripple effect?throughout international metals markets. In a statement filed in October by Access?World's?accounts, it was stated that "a material uncertainity exists which may cast doubt on its ability to continue as a continuing concern". It linked this to a $14.8million arbitration claim made against Global Capital Merchants. Access World, a major logistics player that owns and rents warehouses for metals, including copper, has not revealed who made the claim or why....

Accounts seen by show indicate that an arbitration case filed in Hong Kong, against the owners, of the global?logistics firm Access World, could cause financial risk for the group, with ripple effects on international metal markets. In a statement filed in 'Access World's accounts?last October, it was stated that "a material uncertain exists which?may -cast doubt on the group?s ability to continue as a?going concern". It linked this to an arbitration claim of $14.8 million filed against Global Capital Merchants. Access World, a major logistics player that owns and rents warehouses for metals, including copper, has not revealed who made...

Each year, hundreds of millions of Chinese people travel across the country during Lunar New Year to visit their families or for sightseeing. This is the largest annual human migration in history. The Lunar New Year travel rush or "Chunyun", as it is called in?Chinese can be seen as an indicator of the health of the economy and a test for its vast transportation system. How long is it? The Lunar New Year travel season began on February 2 and will last for 40 days. The Spring Festival, or the New Year celebrations, is known as an official public holiday...

A confidential order shows that India's civil aviation watchdog fined Air India $103,350 for flying an Airbus plane without a permit eight times. The watchdog said the lapse had further eroded public confidence in 'the country's second-largest airline'. On November 24 and 25, an Airbus A320 carried passengers from New Delhi to Bengaluru, Mumbai, and Hyderabad without the mandatory Airworthiness Review Certificate (ARC), a permit issued by the regulator annually after a plane passes safety and compliance tests. Air India's internal investigation, which was?reported on in December, revealed "systemic failings" with the airline. It also acknowledged that there was a?urgent...

A confidential order shows that India's civil Aviation Watchdog fined Air India $110 350 for flying an Airbus plane eight times without an Airworthiness Permit. The lapse, the watchdog said, had 'further undermined the public's trust in the country's second-largest airline. On November 24 and 25, an Airbus A320 carried passengers from New Delhi to Bengaluru, Mumbai, and Hyderabad without the mandatory Airworthiness Review Certificate (ARC), a permit issued by the regulator annually after a plane has passed safety and compliance tests. Air India's internal investigation of the incident, published in December, revealed "systemic failings" with the airline. The report...

The Chinese captain of an?Hong Kong registered cargo ship pleaded 'not guilty'?on a charge?of criminal damage on Wednesday, after allegations that his vessel had?damaged underwater cables in the Baltic Sea. According to a Hong Kong chargesheet reviewed by the. The charge sheet said that?Wan was "reckless", and had "damaged property belonging to others without lawful excuse". Investigators in Finland said that the container vessel had pulled its anchor so as to cut off the Balticconnector pipeline. The Finnish police retrieved an anchor that had broken from the seabed, near the Balticconnector gas pipeline. An attorney for Wan, Jerry Chung said...

Donald Trump, the U.S. president, threatened on Monday to prevent the opening of a new $4.7 billion bridge linking Detroit and Windsor,?Ontario, as his latest salvo in a trade dispute with Canada. Trump cited Canada as the owner of the Gordie Howe International Bridge, Canada's refusal to stock certain U.S. alcoholic drinks on Canadian shelves, Canada’s tariffs on milk products, and its trade negotiations with China. Canada financed the bridge because the U.S. refused. It is expected to open within the next few months. Tolls will cover the costs over a period of 30 years. Trump posted on Twitter: "I...

Hong Kong's chief of commerce summoned on Friday the Panamanian Consul in 'city to condemn a recent court decision that nullified CK Hutchison, based in Hong 'Kong's contract for the operation of two 'ports 'at the Panama Canal. China's Hong Kong & Macau Affairs Office had warned Panama that it would pay "heavy penalties" for its decision made earlier in the week. According to a Friday post from the bureau, Algernon Ying Wah, Hong Kong's Secretary of Commerce and Economic Development expressed "strong opposition and dissatisfaction" with the Panama Supreme Court decision during a meeting. Yau stated that the company...

After receiving a number of applications for new storage in Asia, which is the largest regional market for aluminium, U.S. commodities trade operator CME Group has approved the?first?storage facilities in Taiwan. CME announced in two separate notices that it had approved applications by warehousing company C. Steinweg, and Pacorini Global Services for the storage of aluminium delivered against Comex aluminium contracts at a port city located south of Taiwan called Kaohsiung. Reports stated that 'this month, the CME approved facilities in Taiwan, and another base metals warehouse location, Hong Kong. This was part of CME's efforts to gain more traction...

The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point...

The 'London High Court' refused to allow Indian businessman Prateek gupta, who was found guilty of defrauding commodities trader Trafigura by using fake nickel cargoes. The Geneva-based 'Trafigura' alleged that Gupta had been the mastermind behind a fraudulent "Ponzi Scheme" where he and his firms agreed to deliver high-quality nickel 99.8% but delivered low-value materials or even worthless ones instead. Gupta admitted he didn't deliver high-grade Nickel cargoes, but said Trafigura?staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou denies this. Last month, Judge Pushpinder Saini found that Gupta's companies and Gupta had induced Trafigura to sign contracts...

Wall Street's love for artificial intelligence giants is cooling, and some investors are shifting their focus to infrastructure companies, which they believe will benefit from AI spending. This shift has spawned a number of new products. Shares of AI tech giants like Alphabet and Amazon have seen sharp drops after huge gains over the past few years. Investors are worried that returns on their "massive investments" in developing smarter AI system won't justify these lofty valuations. Asset managers say that investors should focus on companies receiving the checks, such as chipmakers, data centers, and utility firms, which provide the nuts...

Three sources who are directly familiar with the matter have confirmed that CME Group will approve Taiwan and Hong Kong to be warehouse locations for aluminum. This is as the U.S. commodity exchange intensifies its competition against the London Metal Exchange (LME) Asia. The new locations planned would be a major expansion for CME, as the region accounted last year for two thirds of the global production of metals used in packaging and transportation. CME's Asian warehouse footprint is currently limited to Malaysia, Singapore and South Korea. C. Steinweg and Pacorini Global Services, warehouse operators in Taiwan's port of Kaohsiung...

Data from the London Metal Exchange showed that in January, the share of China-made metal in available London Metal Exchange stock fell as metals from other Asian nations, South America, and?Africa flooded in. Available copper inventories The?LME?is at its highest level since late February 2025, as it has become the preferred place for traders to store metals in the U.S.A. and Asia. Data showed that the percentage of copper stocks of Chinese origin in LME's warehouses - those on warrant or available - was 70% at the end last month. This is down from 79% in December. A LME warrant...

Available copper inventories The London Metal Exchange has seen its trading volume increase by 11 months, as traders from the U.S.A. and Asia have increasingly turned to the exchange for metal storage. After more than 20,000 tonnes of copper were delivered to New Orleans and Baltimore over the last three weeks as well as similar inflows into South Korea and Taiwan, the amount of copper available in LME warehouses reached 160,625 tons on Wednesday. This is the highest since late February of last year. Copper was shipped in large volumes to the United States before possible import tariffs. Higher?prices at...

Analysts said that the near 9% decline in copper prices over the past two days is a return to "reality" for a market, whose recent surge of record highs was 'ahead of?the fundamentals. More losses are likely. They say that weak demand, increasing stockpiles and the possibility of increased supplies made it clear that copper's record-breaking rally last Thursday to $14,527.50 per metric ton was not sustainable. Alice Fox, Macquarie's analyst, said that prices had risen far beyond the fundamentals. "Investors were rushing into the market and pushing up prices", she added. "We believe the market was in a global...

Trafigura has won its London case against Indian businessman Prateek?Gupta regarding fake nickel cargoes on Friday. The High Court of London ruled in favor of the commodities 'trader. Trafigura, a Geneva-based company, claimed that Gupta and his companies were the masterminds of a fraudulent Ponzi scheme??in which they agreed to deliver high-quality nickel 99.8% but instead delivered low-value materials or even worthless ones. Gupta acknowledged he didn't deliver high-grade Nickel cargoes, but claims Trafigura staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou had denied this in his testimony given in November. Judge Pushpinder Saini ruled Trafigura had...

Zelostech, a Chinese robovan company, announced on Thursday that Alibaba's logistics division, Cainiao will take a stake. The Wall Street Journal reported on the deal first. A spokesperson for the robovan developer said, "Cainiao won't become a controlling shareholder of Zelostech." A robovan, or fully autonomous electric vehicle designed for freight, is an example of this. Zelostech Z10 can carry a load up to 1.5 tonnes. Zelostech's email stated that "Zelostech has entered into a deep integration with Cainiao’s autonomous-driving division, and are jointly building a RoboVan Super Carrier for the unmanned cargo sector." The company stated that Cainiao will...

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

Data from the London Metal Exchange showed that the share of China-made Copper among the available London Metal Exchange stock fell in December. This was due to the outflows?of the inventory in the LME registered?warehouses?in Asia. The percentage of copper stocks that are available - or those on warrant The data revealed that 79% of the - in LME's warehouses were of Chinese origin at the end last month. This was down from 85%?in November. A LME warrant is an ownership document. The absolute number of Chinese copper stock on the LME dropped to 87,475 tons by the end last...