Morgan Stanley: Copper prices are expected to reach $10,600 per tonne by 2026.

XPeng Motors (09868.HK) reported revenue of RMB 20.38 billion in Q3 2025, compared to RMB 10.1 billion in the same period last year.

1. Proposed Sanctions Against All Countries Trading with Russia: Up to 500% Import Tariffs —Trump explicitly supports a trade sanctions bill against Russia, imposing tariffs of up to 500% on imports from any country trading with Russia. The primary targets are major Russian energy consumers such as India, and for the first time, he hinted at the possibility of including Iran in the sanctions. 2. Trump's Chief Trade Negotiator Warns EU Tariffs on the US Remain Too High —US officials are increasingly dissatisfied with the slow progress the EU has made in reducing tariffs and regulatory barriers. Trump's chief trade negotiator, Greer, stated that despite the agreement reached in July, EU tariffs on US exports remain too high. Greer will travel to Europe next week for a new round of trade negotiations. 3. Unexpected Signal for Negotiations with Venezuela Amidst Approaching US Aircraft Carrier —On November 16th, local time, as the US's most advanced aircraft carrier strike group approached Venezuela, Trump unexpectedly signaled a willingness to negotiate. He stated that he might speak with Venezuelan President Maduro to "see how things develop," and added that Venezuela "also wants to talk." 4. Dramatic Reversal of Stance: Supports Vote to Release Epstein Files —Trump said on Sunday that House Republicans should vote to require the Justice Department to release documents related to Epstein, reversing his stance of several months prior. The House will vote this week on whether to require the Justice Department to release investigative documents. 5. Falling Out with a Key Aide —Republican Representative Marjorie Taylor Green, a key figure in Trump's "Make America Great Again" (MAGA) campaign, has recently fallen out with Trump. Trump has launched a verbal attack on her for days, while she responded on social media on the 15th, condemning Trump's "incitement and encouragement" as leading to personal threats against her.