The Indonesian rupiah fell to 16,855 against the US dollar in early trading.

The A-share dairy sector was active in early trading, with Panda Dairy rising more than 4%, and other stocks such as Zhuangyuan Ranch, Hairong Technology, New Hope Dairy, Sunshine Dairy, Knight Dairy, and Western Animal Husbandry following suit.

Energy: 1. Iran may agree to a long-term suspension of its nuclear program in exchange for the lifting of sanctions. 2. Shell suspends its oil and gas investments in Kazakhstan. 3. Turkey and Chevron reach a global oil and gas exploration cooperation agreement. 4. Bessant: Whether to further sanction the Russian oil shadow fleet depends on the progress of negotiations. 5. Reliance Industries restarts Venezuelan crude oil trading; 2 million barrels of Venezuelan crude oil depart for India. 6. JPMorgan Chase expects strong growth in oil demand this year, but anticipates global supply will exceed demand. 7. The CEO of Kuwait Petroleum Corporation stated that he is in talks with US operators regarding potential cooperation in the shale oil and gas sector. Metals/Mining: 1. Rio Tinto and Glencore decide not to proceed with their merger. 2. CME Group raises margin requirements for gold and silver futures. 3. Gold trading volume on the Moscow Exchange increased by 87% year-on-year in January. 4. Global gold ETFs saw a record inflow of $18.7 billion in January. 5. UBS: Believes both gold and silver could rise further in 2026. 6. The UK announced a partnership with the US to boost investment in key mineral supply chains. 7. Bank of England Deputy Governor Ramsden: January was a very volatile month for the Bank of England's gold holdings, with more gold recently flowing out of the Bank of England's vaults. 8. JPMorgan Chase: The copper market will continue to show significant divergence in the coming months, and more bullish signals are emerging. The Trump administration is most likely to implement phased tariffs on refined copper imports. 9. JPMorgan Chase: Demand from central banks and investors this year is sufficient to push gold prices to $6,300 per ounce by the end of 2026. Net central bank gold purchases this year will reach 800 tons, still 70% higher than pre-2022 levels. Silver prices will bottom out in the short term (around $75-80/ounce in the next few quarters). By early next year, silver prices will eventually recover to an average of $90 per ounce.