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1.15747
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Gold
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89.324
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Real-time News
Futures News, September 2nd: Domestic residential gas prices resumed their upward trend in the second half of August, and this upward momentum continued into early September. As of September 1st, the domestic residential gas price was 6197 yuan/ton, an increase of 430 yuan/ton compared to mid-August. Although domestic refinery output increased to some extent in August, overall supply remained slightly insufficient. Furthermore, the continued closure of the Strait of Hormuz and restrictions on traffic flow in the Panama Canal led to insufficient international resource arrivals and high prices, with landed prices rising to around 6800 yuan/ton. Given the overall market context of insufficient supply and continuously rising costs, domestic liquefied petroleum gas (LPG) prices are expected to continue their strong performance in early September.September 2nd - Early this morning (September 2nd) local time, a spokesperson for Irans Hatem Anbia Central Command issued a statement saying that the US military recently conducted airstrikes on multiple military and non-military targets in southern Iran, causing civilian casualties. In response, Iranian armed forces launched attacks on US military bases in the region using missiles and drones. The statement said the attacks caused serious damage to US infrastructure, weapons, and equipment, and resulted in the deaths and injuries of a significant number of US commanders and soldiers. The statement indicated that military action against the US will continue until the US "regrets its actions." The statement also warned that if the US continues its military operations in the region, it will face a "heavier, broader, and more destructive" response; any country cooperating with the US military must bear the resulting "dangerous consequences."1. In a closed-door meeting on Tuesday, Trump urged U.S. refiners to increase domestic gasoline and diesel production. Refinery executives believe that federal requirements for biofuel blending, including quotas for alternative fuels, are driving up gasoline retail prices and are questioning the governments record biofuel blending quota targets. 2. According to CCTV News, on September 1st local time, the Peruvian Foreign Ministry announced the severing of diplomatic relations with Iran, stating that this decision had been notified to Iran through a diplomatic note from the Iranian Embassy in Ecuador. 3. Xinhua News Agency reported that Russian President Putin stated on the evening of September 1st that negotiations related to the Ukraine issue have stalled, and rumors that Russia would announce a new round of mobilization after the State Duma (lower house of parliament) elections are unfounded. 4. Brazils Rio Grande do Sul agricultural extension company (Emater) released its first annual crop forecast on Tuesday, showing that the states soybean planting area for 2026/27 is expected to be 6.645 million hectares, a decrease of 0.92% from the previous year. However, driven by El Niño, yields are expected to recover, with production jumping by more than 15%. 5. Australian company Mineral Resources (MinRes) announced its 2026 fiscal year lithium business performance, with combined sales of 559,000 tonnes of SC6 spodumene concentrate from Wodgina and Mt Marion. Both Wodgina and Mt Marion exceeded guidance. 6. According to Reuters, US Energy Secretary Wright stated that 17 million barrels of crude oil passed through the Strait of Hormuz on Monday, the highest oil flow in the waterway since the Iran-Iraq War disrupted shipping. 7. According to data from Zhaogang.com, Chinas national construction material output reached 4.3757 million tons, an increase of 114,800 tons from the previous week; total inventory was 11.0508 million tons, a decrease of 61,700 tons from the previous week; national hot-rolled coil output reached 4.217 million tons, an increase of 72,800 tons from the previous week; total inventory was 5.1266 million tons, a decrease of 125,700 tons from the previous week. 8. The Reserve Bank of New Zealand unanimously decided to raise the Official Cash Rate (OCR) by 25 basis points to 2.75%. The Reserve Bank of New Zealand stated that the inflation rate rose to 4.1% in the June quarter due to rising fuel prices caused by the Middle East conflict. 9. Data from the Southern Peninsula Palm Oil Crusher Association (SPPOMA) shows that from August 1-31, 2026, Malaysian palm oil yield per hectare decreased by 4.53% compared to the same period last month, oil extraction rate increased by 0.15% compared to the same period last month, and output decreased by 3.74% compared to the same period last month. 10. Shipping data shows that four commodity carriers passed through the Strait of Hormuz on Tuesday, down from 10 the previous day and below the daily average of about 13 over the past 10 days. 11. According to SMM, Indonesian nickel prices fell again in the first half of September. The Indonesian Ministry of Energy and Mineral Resources (ESDM) has officially released the nickel ore benchmark price (HMA) for the first half of September 2026. The HMA for the first half of September is: $16,733.33/ton, a decrease of $226.67 from $16,960/ton in the second half of August 2026, a drop of 1.33%.Jefferies: Initiates coverage research on US Rare Earth Company (USAR.O) with a buy rating and a target price of $21.Jefferies: Lowered its price target for Oracle (ORCL.N) from $320 to $290.
