Breaking News Today – Monday 20 October 2025

Business News Today

China’s Rare Earth Magnet Exports and Economy Contracts

As US President Donald Trump heads into trade talks with China today, data out this morning shows China’s rare earth magnet exports fell 6.1% month-on-month to 5,774 metric tons in September 2025, ending three months of gains ahead of the government’s October expansion of export controls targeting users in the defence and semiconductor sectors. The latest figure was down from a seven-month high of 6,146 tons in August. The monthly decline came as Chinese rare earth magnet firms faced tighter scrutiny on export license applications since September.

However, compared to the same month a year earlier, shipments rose 17.5%, according to the General Administration of Customs, which released the data this morning. By country, Germany, South Korea, Vietnam, the United States, and Mexico were the top five export destinations for Chinese rare earth magnets by volume last month. The US has imposed a series of restrictions on exports to China as well as tariffs on Chinese imports.

The rare earth exports have become a central issue with China holding this as a lever in the trade discussions. Meanwhile China’s economy expanded at the slowest annual pace in a year in July-September, growing 4.8%, weighed down by trade tensions with the United States and slack domestic demand. The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2% pace of growth in the previous quarter, the government said in a report Monday.

IATF 2025: Africa Harnesses AfCFTA for Economic Transformation

The Intra-African Trade Fair 2025 in Algiers showcased $50 billion in deals under AfCFTA, focusing on manufacturing and agro-processing to lift intra-trade from 18% to 50% by 2030. Over 1,000 exhibitors from 50 nations highlighted EVs and renewables, with Nigeria’s Obasanjo praising fintech integrations. This platform addresses $100 billion infrastructure gaps via PPPs, creating 2 million jobs. Amid global slowdowns, it positions Africa for 4% growth, emphasizing value chains to retain $70 billion in raw exports. Success hinges on policy harmonisation for SMEs.

Cocoa Prices Tumble to 20-Month Low

After a record rally last quarter, West African cocoa futures have plunged 25% to a 20-month low of $5,800/ton, ending a 300% 2024 surge due to weak demand and bumper harvests in Ivory Coast/Ghana—projected at 2.2 million tons. Cocoa futures dropped to their lowest since February 2024, as traders weighed signs of soft global demand against prospects of higher supply. Grindings data, which measures cocoa processing volume, showed a 17% year-on-year drop in Asia to 183,413 tonnes in Q3, while Europe recorded a smaller-than-expected 4.8% decline to 337,353 tonnes, the weakest third-quarter level in a decade.

By contrast, North American processing unexpectedly rose by 3.2% to 112,784 tonnes, with two more plants publishing data. Cocoa futures are down 49.6% since the start of the year, as market participants brace for a potential supply surplus this season, with improved weather in West Africa — the world’s largest growing region — boosting harvest prospects and easing supply concerns. Additionally, both the Ivory Coast and Ghana have sharply raised farmgate prices to support farmers and curb smuggling, which should encourage farmers to deliver more beans to warehouses.

The Week Ahead: 20-25 October 2025

With multiple major data releases expected this week, investors will continue to monitor developments in the US–China trade dispute, watching for signs of either escalation or easing tensions. The US corporate earnings season will also move into full swing, with major companies such as Tesla, P&G, GE, Coca-Cola, Netflix, IBM, AT&T, and Intel set to report results. In the US, the federal government shutdown is expected to enter its fourth week, though traders will still have the CPI report to digest, alongside S&P Global flash PMIs, and existing home sales. In China, attention will focus on a batch of crucial economic releases, including Q3 GDP.

Elsewhere, flash PMI data will be released for the Eurozone, Germany, the UK, India, Japan, and Australia. Other important indicators include Euro Area consumer confidence, Japan’s trade and inflation figures, UK inflation, as well as monetary policy decisions from the central banks of Turkey, Indonesia, and South Korea. In Africa, South African CPI and expo data will be released, while Nigerian inflation numbers are expected. IMF Regional Economic Outlook for Sub-Saharan Africa, is also set for release this week with growth projected to remain steady at 4.1% for 2025.

Breaking News Shorts: 

• China’s retail sales grew by 3.0% year-on-year in September, slowing from a 3.4% gain in the previous month and the weakest expansion since August 2024. The slowdown was driven by significantly softer sales in household appliances and audio-visual equipment at 3.3% vs 14.3% in August, gold, silver, and jewellery with 9.7% vs 16.8%, and sports and entertainment products 11.9% vs 16.9%.
• Copper futures climbed back above $5 per pound this morning, rebounding from a one-week low as risk sentiment improved amid signs of easing US-China trade tensions. US President Donald Trump said his proposed retaliatory tariffs on Chinese goods would be unsustainable
• iPhone 17 series outperformed its predecessor in early sales in China and the United States, research firm Counterpoint said this morning.The newer Apple models outsold the iPhone 16 series by 14% during their first 10 days of availability in the two countries, Counterpoint said in a report.
• Wall Street closed off a week on the upside on Friday, after banks recovered some of their steep fall in share prices seen Thursday. The S&P 500 rose 0.5%. The Dow Jones Industrial Average added 238 points, or 0.5%, and the Nasdaq composite climbed 0.5%. the best week for the S&P 500 since early August
• Ethiopia’s Ethio Telecom has unveiled znexus, a new line of affordable, cloud-based smart devices. The launch marks a major milestone to expand digital access and empower citizens across Sub-Saharan Africa. The new smartphones shift processing power to the cloud (teleCloud), znexus reduces device costs, extends battery life, and removes storage limitations

Markets by Numbers 

Currency markets indicate the US dollar softer today, with the Euro trading against the US dollar at 1.16739 while the Pound is trading at 1.34393 to the US dollar. The Yen is currently trading at 150.63 to the dollar. The rand (ZAR) is currently at R17.33 to the US dollar.

Commodities:  

• Gold futures prices are flat this morning, after a drop from a new record high last week on Friday, and are currently trading around $4250.06 per ounce.  
• Copper prices have gained traction today, with prices currently at $4.9975
• Silver futures prices are softer this morning, and currently trading around $51.855
• Platinum futures are down over -1,4% today, and currently trading at $1585.70, While Palladium prices have dropped by over -2% this morning, and are currently trading around $1454.50 per ounce.
• Brent crude oil prices have fallen today, and currently at $60.96 with WTI trading lower at $57.20
• Cocoa futures are currently trading around $5917.43 per ton. 
• Coffee futures are currently trading at around $3.9692 per pound

Crypto Currencies: 

• Bitcoin prices have surged over 2% today, and currently trading at around $110998 per coin 
• Ether prices have seen a 1,8% surge today, and are currently trading around the $4059.72 mark
• $Trumpcoin is trending upwards today, and currently trading around $6.01

(All prices quoted at approximately 07H55 Central African Time) 

Other Headline News in Africa Today

US Jury Convicts BNP Paribas Over Sudanese Atrocities

A New York jury ruled BNP Paribas liable for enabling Sudanese war crimes via $9 billion in illicit transactions from 2002-2011, awarding $100 million in damages to victims’ families. The French bank’s sanctions violations funded arms, according to prosecutors. Shares in the French multinational universal bank and financial services holding company headquartered in Paris, fell by 1.5%, with $500 million fines looming. This landmark case pressures global lenders on compliance, especially in high-risk zones. For Africa, it spotlights financial flows illegally fuelling conflicts, urging stricter KYC in a $1.5 trillion remittance market. Reforms could enhance trust, and contribute towards attracting ethical FDI to fragile economies like South Sudan.