COMMODITY MARKET UPDATE

Advisory Bazaar Info Services

🔩 METAL MARKETS

Overnight, base metals traded strongly higher across China and overseas markets.

* LME Copper: +1.02%

* LME Aluminum: +1.79%

* LME Zinc: +1.99%

* SHFE Zinc: +1.37%

* SHFE Nickel: +1.04%

* Alumina: +0.97%

* Cast Aluminum: +0.50%

* SHFE Tin: -0.10%

⚙️ FERROUS METALS

Ferrous metals also maintained a strong positive trend.

* Iron Ore: +1.06%

* HRC: +1.03%

* Coking Coal: +2.42%

* Coke: +3.51%

🪙 PRECIOUS METALS

Gold and silver posted strong gains amid a weaker US dollar.

* COMEX Gold: +1.97%

* COMEX Silver: +1.33%

* Gold Weekly: +5.05% — fifth consecutive weekly gain

* Silver Weekly: +5.99% — third consecutive weekly gain

* SHFE Gold: +2.36%, above CNY 1,000/gram

* SHFE Silver: +2.15%

🇨🇳 CHINA UPDATE

* China’s government revenue for January–July rose 5.8% YoY to CNY 14.37 trillion.

* Government expenditure increased 1.3% to CNY 16.29 trillion.

* China has included Embodied AI Robots, Solid-State Batteries, Industrial Machine Tools and Drones among new quality-strengthening projects.

💵 US DOLLAR

* Dollar Index: -0.02% at 98.85

* Weekly: -0.79%

Markets will closely watch the Jackson Hole Symposium next week, particularly Fed Chairman Kevin Warsh’s speech. His comments on future monetary policy and interest rates could provide important market signals.

🏦 FED RATE OUTLOOK

According to CME FedWatch, the September outlook is:

* Rates Unchanged: 59.9%

* 25 bps Hike: 40.1%

Citigroup has lowered its 3-month Dollar Index forecast from 102.12 to 98.34.

📅 NEXT WEEK KEY EVENTS

The US will release several important economic indicators, including GDP, Core PCE, ADP Employment, Consumer Confidence, Personal Spending, Durable Goods Orders and Jobless Claims.

* Nvidia Earnings: 26 August

* Jackson Hole Symposium: 27–29 August

* RBA Monetary Policy Minutes

* China Refined Oil Price Adjustment

🛢️ CRUDE OIL

Overnight:

* WTI: -0.22%

* Brent: -0.19%

Weekly:

* WTI: +5.15%

* Brent: +5.74%

Crude oil continues to maintain a firm trend amid US-Iran tensions and supply concerns surrounding the Strait of Hormuz.

⛽ DIESEL MARKET

European diesel supply remains tight due to reduced Middle East crude supplies, restrictions on Russian diesel exports and refinery disruptions.

Hedge funds have reduced bearish positions and increased their bullish exposure.

🌍 GLOBAL OIL INVENTORIES

According to Citi, global observable oil inventories declined by approximately 519 million barrels between February and August 2026.

If supply disruptions continue, inventory pressure could increase further. However, Citi’s base case assumes the possibility of a US-Iran agreement in Q4 2026. If the Strait of Hormuz subsequently reopens, Brent crude could move towards around $60/barrel in 2027.

📌 MARKET VIEW

🔹 Base Metals: Positive

🔹 Ferrous Metals: Positive

🔹 Precious Metals: Strong

🔹 Dollar: Under Pressure

🔹 Crude Oil: Firm – Geopolitical Risk Sensitive

Advisory Bazaar Info Services

Market updates for business & trading decisions