1. According to the China Iron and Steel Association (CISA), in late January 2026, the social inventory of five major steel products in 21 cities was 7.17 million tons, an increase of 80,000 tons (1.1%) month-on-month, showing slight fluctuations; a decrease of 40,000 tons (0.6%) from the beginning of the year; and a decrease of 170,000 tons (2.3%) from the same period last year.
2. Indonesian mining officials stated on Tuesday that miners have suspended spot coal exports due to the Indonesian government's proposed significant production cuts.
3. According to market sources, some leading polysilicon companies held a meeting on January 31 (Saturday) to discuss matters related to the polysilicon market. Meanwhile, a photovoltaic industry conference will be held on February 5, focusing on capacity optimization and price order rectification.
4. According to distributors' estimates, India's palm oil imports jumped to 766,000 tons last month, the highest level since October 2025, while December's imports were 507,204 tons.
5. According to foreign media reports, Jim Sutter, CEO of the U.S. Soybean Export Council, stated that increased global demand is contributing to the U.S. soybean export outlook this year. He indicated that the association is committed to expanding global market access for U.S. soybeans.
6. Data from the Southern Peninsula Palm Oil Crusher Association (SPPOMA) shows that from January 1st to 31st, 2026, Malaysian palm oil yield decreased by 13.78% compared to the same period last month, oil extraction rate increased by 0.16%, and production decreased by 13.08% compared to the same period last month.
7. According to an announcement from the Shanghai Futures Exchange, effective from the closing settlement on February 5th, 2026 (Thursday), the daily price fluctuation limits for listed contracts of fuel oil, petroleum asphalt, butadiene rubber, and natural rubber futures will be adjusted to 9%, and the general open position margin ratio will be adjusted to 11%; the daily price fluctuation limits for listed contracts of pulp and offset printing paper futures will be adjusted to 7%, and the general open position margin ratio will be adjusted to 9%.
8. According to the Shanghai International Energy Exchange (INE) announcement, effective from the closing settlement on February 5, 2026 (Thursday), the daily price fluctuation limits for listed contracts of crude oil, low-sulfur fuel oil, and TSR20 rubber futures will be adjusted to 9%, and the general margin requirement for open positions will be adjusted to 11%.
9. Analysts at Norges Bank stated that if India stops purchasing Russian crude oil, Russia will find it difficult to find buyers for such a large supply. The US agreement to reduce tariffs on Indian imports to 18% in exchange for India ceasing its purchases of Russian crude oil has also raised questions about the future destinations of these crude oil shipments.
10. Chile's National Copper Commission, Cochilco, has raised its 2026 copper price forecast, expecting the average price to reach $4.95 per pound. The agency cited strong demand expectations, a weaker dollar, and geopolitical risks as the basis for the upward revision.
11. According to the Shanghai Futures Exchange (SHFE) announcement, effective from the closing settlement on Wednesday, February 4, 2026, the daily price fluctuation limit for listed silver futures contracts will be adjusted to 19%, the margin requirement for hedging positions will be adjusted to 20%, and the margin requirement for general positions will be adjusted to 21%.
12. According to the Guangzhou Futures Exchange (GZFE) announcement, effective from the settlement on February 5, 2026, the daily price fluctuation limit for platinum and palladium futures contracts will be adjusted to 20%, and the required margin requirement will be adjusted to 22%.
