Industry & Raw Material Daily Briefing — 2026-06-02

1. Commodities Market Trends

• Crude Oil (WTI/Brent): WTI June futures fell 0.77% to $91.45/barrel but maintained a firm tone due to concerns over the Strait of Hormuz amid uncertain U.S.-Iran ceasefire negotiations. Brent crude fell 0.66% to $94.35/barrel.

• Natural Gas: Henry Hub natural gas rose 0.28% to $3.19/MMBtu.

• Copper: Citi analysts forecast copper prices to hit $14,500/ton in June and $15,000/ton within a year, with a global copper supply realignment underway due to U.S. tariff policies.

• Gold/Precious Metals: Gold COMEX June futures rose 0.35% to $4,491/ounce, as investors favor safe-haven assets amidst uncertainty surrounding U.S.-Iran ceasefire talks and a partial Hezbollah-Israel truce.

1 sources

reuters.com

reuters.com

2. Supply Chain Issues

• Singapore Supply Chain Hub Expansion: Singapore is strengthening its position as a global supply chain and logistics hub in 2026 through the expansion of the Tuas Mega Port and increased air cargo capacity. Electronics, chemicals, and pharmaceuticals are key growth sectors.

• Battery & Semiconductor Logistics: FedEx is expanding specialized services and technology investments for transporting automotive batteries and semiconductors, enhancing cross-border risk management.

• Middle East War Impact: Factory production costs and supply chain disruptions caused by the Iran war in March 2026 continue to slow manufacturing activity across Asia.

1 sources

indexbox.io

indexbox.io

3. Core Industry Trends

Semiconductors

• China’s Domestic Chip Push: Major Chinese automakers are preparing to launch models with 100% domestic chips starting in 2026. The current supply rate of Chinese-made non-power automotive semiconductors is at the 5-10% level.

Secondary Batteries & EVs

• U.S. Battery Storage Diversification: American Battery Factory (ABF) is building a battery cell plant in Tucson, Arizona, with a planned annual production capacity of 9GWh by mid-2026. However, dependence on China remains.

Automotive, Shipbuilding, & Steel

• Trump Tariff Adjustments: President Trump signed an order on June 2 revising Section 232 national security tariffs on steel, aluminum, and copper imports.

4. Corporate Moves

• Inpex Australian LNG Dispute: Unions at the Inpex Ichthys LNG facility have begun limited strikes due to wage disputes, threatening broader actions next week that could halt LNG production and loading.

• Rosneft Q1 Net Profit Jumps 7x: Russia's largest oil company, Rosneft, reported a seven-fold increase in Q1 net profit compared to Q4, driven by the global oil rally and currency fluctuations. The company did, however, mention risks of asset impairment due to attack threats.

5. Daily Insight

The divergent movements of oil and copper prices reflect a combination of global energy uncertainty and long-term strong demand for industrial metals. Specifically, uncertainty in the U.S.-Iran ceasefire negotiations is capping oil prices, yet concerns over supply disruptions in the Strait of Hormuz are preventing a sharper decline. Meanwhile, copper maintains strong momentum due to Citi's bullish long-term outlook and realignment demand caused by U.S. tariff policies.

Regarding supply chains, Singapore's infrastructure expansion and investments by specialized logistics firms are boosting resilience in 2026. However, regional risks—such as production cost hikes from the Middle East war and the Australian LNG labor dispute—remain, requiring careful monitoring by supply chain managers.

6. What to Watch Next

• U.S.-Iran Ceasefire Progress: President Trump announced that both sides are still in negotiations; monitoring the timeline for reopening the Strait of Hormuz and its impact on oil prices is essential.

• Inpex Ichthys Labor Response: Potential for LNG loading disruptions due to planned broader union actions in Australia next week.

• Trump Tariff Implementation: Need to verify specific implementation schedules and the scope of the revised steel, aluminum, and copper tariffs.

7. Reader Action Items

1. Reassess Copper Positioning: Re-examine exposure to copper futures and related industries following Citi's $15,000/ton target price—especially regarding the potential to accelerate the renewal of copper supply contracts for automotive and construction.

2. Diversify LNG Procurement: Prepare for potential LNG supply disruptions from the Inpex dispute by initiating contract renegotiations with Qatar and U.S. suppliers.

3. Manage Tariff Risks: Review potential supply chain restructuring due to U.S. steel, aluminum, and copper tariff adjustments, and consider increasing sourcing from USMCA-favored countries like Mexico and Canada.

Source Policy: All figures, company names, and contract details in this briefing are cited strictly from the original text provided. No information outside of the research findings is included.