1.
Russian Presidential Press Secretary Dmitry Peskov, commenting on the possibility of restarting negotiations with Ukraine, noted that Russia is currently unable to assess the prospects for resuming negotiations. As Russia has repeatedly emphasized, the fundamental reason for the suspension of negotiations is Ukraine's lack of willingness to continue dialogue.
2. According to Mysteel, the Guinean government and its strategic partners, Rio Tinto SimFer, Baowu, and Winning Consortium Simandou, recently signed contract documents related to shipping for the Simandou iron ore project through the Simandou Strategic Committee. This lays a solid foundation for the project to ship its first iron ore cargo by the end of 2025 as planned.
3. Vale's CEO stated that Vale believes the current M&A market is challenging, but also sees opportunities for organic growth. Even after the Simandou iron ore project in Africa comes online, Vale remains optimistic about the medium- and long-term iron ore market.
4.
The Brazilian National Association of Grain Exporters (ANEC) said that Brazil's soybean exports in October are expected to reach 7 million tons, compared to the 7.34 million tons estimated the previous week. Brazil's soybean meal exports in October are expected to reach 2.08 million tons, compared to 2.09 million tons the previous week. Brazil's corn exports in October are expected to reach 6.19 million tons, down from 6.57 million tons the previous week.
5. According to data from the China Wood Industry Association, 16 New Zealand logs were expected to arrive at 13 Chinese ports this week, up 4 ships, or 33%, from the previous week. The total volume of arrivals increased by 85,000 cubic meters to approximately 533,000 cubic meters, a 19% week-on-week increase and the highest level since September.
6.
According to the National Grain and Oil Information Center, my country's imported soybean arrivals remained high in October. Combined with the rapid resumption of oil mill operations after the National Day holiday, soybean crushing volume exceeded 2.1 million tons for two consecutive weeks. Soybean crushing volume is expected to remain high at around 2.3 million tons this week.
7.
The Indonesian Palm Oil Association (GAPKI) said on Tuesday that Indonesia's palm oil inventories fell slightly to 2.54 million tons in August, down 1% from the previous month, as lower production offset a decrease in exports. Data shows that Indonesia's palm oil exports in August were 3.47 million tons, a 1.8% decrease from the previous month, while crude palm oil production was 5.06 million tons. GAPKI predicts Indonesia's palm oil production will increase by 10% in 2025, driven by favorable weather.
8.
Data from the China Grain and Oils Business Network shows that as of the 43rd week of 2025, total domestic palm oil inventories reached 565,000 tons, up 16,000 tons from 549,000 tons the previous week. Contracted volumes were 37,000 tons, down 3,000 tons from 40,000 tons the previous week.
9.
Sources say OPEC+ is leaning toward another small production increase in December. Previously, the Trump administration's sanctions on two Russian oil companies significantly boosted oil prices, and investors are now wondering whether these sanctions remain effective. International Energy Agency Executive Director Fatih Birol said: "The sanctions that some countries are imposing or considering against certain countries could push up crude oil prices. However, in my view, the impact will remain limited, and our oil prices are still around $60 because we have significant overcapacity and abundant oil."
10.
Delegates attending the London Bullion Market Association (LBMA) annual meeting in Kyoto predicted that gold prices will reach $4,980 per ounce over the next 12 months, an increase of approximately 27% from current levels. Political tensions, uncertainty about US tariffs, and recent investor fear of missing out pushed gold prices to a record high of $4,381 per ounce on October 20.
11. Indonesia's Ministry of Mining said the government has agreed to grant copper concentrate export licenses to Amman Mineral, a copper miner. The export license is pending completion of administrative procedures.
