Luoyang Molybdenum: It plans to provide an unconditional and irrevocable guarantee for the US$1.2 billion zero-coupon convertible corporate bonds to be issued by its indirectly controlled subsidiary CMOC Capital on January 26, 2026.

At the close of the morning session, most domestic futures contracts were in positive territory, with Shanghai silver rising over 14%, platinum over 9%, palladium over 7%, container shipping to Europe up over 5%, Shanghai tin up nearly 5%, synthetic rubber and fuel oil up over 4%, liquefied petroleum gas (LPG) and Shanghai gold up nearly 4%, and Shanghai nickel up over 3%. On the downside, lithium carbonate fell over 2%, pulp fell 1%, and live hogs and apples fell nearly 1%.

Domestic News: 1. The Ministry of Foreign Affairs reminds Chinese citizens to avoid traveling to Japan during the Spring Festival. 2. Guotou Silver LOF: Subscription (including regular fixed-amount investment) will be suspended from January 28th. 3. Guangzhou Futures Exchange warns of risks: Prices of some varieties have fluctuated significantly recently; compliance supervision and risk prevention of trading activities will be strengthened. 4. Hong Kong Financial Services and Treasury Bureau and Shanghai Gold Exchange sign cooperation agreement: aiming to exceed 2,000 tons in three years, making Hong Kong a globally trusted gold storage location. 5. The People's Bank of China holds the 2026 Macroprudential Work Conference: Proactively assessing potential systemic financial risks, innovating and enriching the policy toolbox, and maintaining the sound operation of the financial market and the overall stability of the financial system. International News: 1. OPEC+ representative: Production policy of halting increases may be maintained in March. 2. The EU and India will discuss the possibility of India's participation in the EU defense initiative. 3. Bank of Japan account data shows no clear indication of intervention in the foreign exchange market last Friday. 4. A US rare earth company signed a letter of intent with the US government to secure $1.6 billion in funding. 5. Canadian Prime Minister Carney is reportedly likely to visit India in early March, potentially signing a uranium supply agreement. 6. India's Trade Minister announced that India and the EU have completed negotiations on a highly anticipated trade agreement. 7. Precious metals surged, with spot gold reaching $5,100/oz and spot silver reaching $112/oz. 8. Polymarket's forecasting platform shows a 78% probability of a US government shutdown before the end of January, a significant increase from less than 10% last Friday. 9. The EU will completely ban imports of Russian liquefied natural gas in January 2027, and completely ban imports of Russian pipeline natural gas by the end of September of the same year.