26 March 2026 | 8:18PM HKT Equity Research CHINA COMMODITIES China commodity trip (1H26): a soft but resilient outlook, metal demand and substitutions amid elevated prices Our week-long semi-annual China commodity trip included nearly 40 meetings and site visits, across Beijing and eight provinces across China. Discussions were engaged with key commodity-related market participants including 1) producers in steel, coal, aluminum and copper fabrications, aluminum and alumina, and lithium, traders in iron ore ...