Morning News

# Source: Wallstreetcn

## Market Overview

On Friday, U.S. nonfarm payroll growth cooled sharply. Coupled with the outbreak of conflict in the Middle East, oil prices continued to surge, exacerbating market stagflation concerns. Additionally, anxiety over the private credit industry also dragged down U.S. stocks.

The S&P 500 fell 1.3%, with a weekly decline of over 2%, marking its worst week since October last year. For the week, the Dow Jones Industrial Average and small-cap stocks led the losses, dropping 3%-4%. On Friday, financial stocks led the decline amid turmoil in the private credit market, with BlackRock plummeting 7.7%. Oracle and OpenAI scrapped plans to expand data centers in Texas, and chipmakers fell across the board.

The nonfarm payroll report boosted market bets on Federal Reserve rate cuts. The yield on the 10-year U.S. Treasury note fell about 7 basis points from its intraday high before rebounding. The U.S. dollar fell 0.34%, but rose more than 1% for the week, posting its best weekly performance since October 2024.

Bitcoin fell 4%, and Ethereum dropped 4.6%, falling below $2,000.

Driven by safe-haven sentiment, spot gold rose 1.8% and spot silver gained 2.5%. However, gold fell 2% for the week, ending a four-week winning streak, while silver tumbled nearly 10% over the week.

WTI crude oil prices continued to surge nearly 16% on Friday, breaking through $90 and $91 intraday. For the week, it rose 35%, recording its largest weekly gain on record. European natural gas prices doubled at one point during the week.

In early Asian trading on Monday, WTI crude oil futures surged more than 20% intraday, breaking through the $110 mark and hitting a high of $111.24. U.S. stock index futures fell across the board, with Dow futures down 2%, and S&P 500 and Nasdaq 100 futures both down 1.7%. Spot gold rose then fell in early Asian trading, quickly retreating after hitting $5,192.04 per ounce and touching a low of $5,120.98 per ounce.

## Key News

### China

- Wang Yi: This year is a "big year" for China-U.S. relations. He called for a "ceasefire and end to hostilities" in the Middle East and stated that Latin American countries should decide for themselves who to be friends with.

- The National Development and Reform Commission (NDRC) interpreted the Draft Outline of the 15th Five-Year Plan, covering GDP growth targets, emerging and future industries, and extending the duration of compulsory education.

- China's gold reserves increased by 30,000 ounces month-on-month at the end of February, marking 16 consecutive months of accumulation.

- Following the "Iron Lady," another cargo ship passed through the Strait of Hormuz. At least 10 merchant vessels have followed suit by disguising themselves as "Chinese-flagged."

- Longgang District, Shenzhen plans to launch the first "Ten AI Lobster Policies."

### Overseas

- The son of Ayatollah Khamenei succeeded him as Iran's Supreme Leader. Earlier, the Israel Defense Forces reiterated that it would target Khamenei's successor. Iran stated it has the capability to wage a high-intensity war for more than six months. Trump: The possibility of Kurdish forces participating in the war has been ruled out, and deploying ground troops requires a "very good reason."

- Middle East crude oil "production halt wave": The United Arab Emirates and Kuwait announced production cuts. Saudi Aramco shares rose as much as 4.3% at the opening of the Saudi stock market. Besant said more sanctions on Russian crude oil may be lifted, and "stranded offshore crude oil" may be released to suppress oil prices.

- The U.S. announced conditional relaxation of sanctions related to Venezuela's gold trade! Venezuela's acting president: The process for the U.S. to obtain Venezuelan mineral resources, including gold and rare earths, will be accelerated at "Trump-like speed."

- The U.S. private credit crisis is gradually replicating the "subprime mortgage crisis."

## Market Closing

### U.S. and European Stock Markets

- S&P 500: Fell 1.33% to 6,740.02 points, down 2.02% for the week.

- Dow Jones Industrial Average: Fell 0.95% to 47,501.55 points, down 3.01% for the week.

- Nasdaq Composite: Fell 1.59% to 22,387.679 points, down 1.24% for the week.

- Europe STOXX 600: Fell 1.02% to 598.69 points, down 5.55% for the week.

### A-Share Market

- Shanghai Composite Index: Closed at 4,124.19 points, up 0.38%.

- Shenzhen Component Index: Closed at 14,172.63 points, up 0.59%.

- ChiNext Index: Closed at 3,229.30 points, up 0.38%.

### Bond Market

- U.S. 10-year benchmark Treasury yield: Rose 0.19 basis points to 4.1383%, up 20.08 basis points for the week.

- U.S. 2-year Treasury yield: Fell 1.59 basis points to 3.5605%, up 18.56 basis points for the week.

### Commodities

- Spot gold: Rose 1.75% to $5,171 per ounce, down 2.06% for the week.

- Spot silver: Rose 2.55% to $84.3451 per ounce, down 10.06% for the week.

- WTI April crude oil futures: Rose $9.89, or 12.21%, to $90.90 per barrel, the highest settlement since October 2023, up 35.63% for the week.

# Detailed News Highlights

## Global Headlines

### China

- **Wang Yi**: This year is a "major year" for China-U.S. relations; calls for a "ceasefire and end to hostilities" in the Middle East; Latin American countries should decide for themselves who to be friends with. Foreign Minister Wang Yi stated that the heads of state of the two countries have personally maintained good exchanges at the highest level. This year is a "major year" for China-U.S. relations, and the agenda for high-level exchanges is already on the table. Additionally, the situation in Iran is the focus of the current international situation, and China has repeatedly clarified its principled position, which boils down to one sentence: ceasefire and end hostilities. Regarding China-Latin America cooperation, Wang Yi said that Latin American countries should decide for themselves who to be friends with.

- **NDRC interprets the Draft Outline of the 15th Five-Year Plan**: GDP growth target, emerging and future industries, and extending compulsory education. The NDRC's interpretation of the Draft Outline of the 15th Five-Year Plan: First, the GDP growth target adopts a qualitative formulation while remaining within a reasonable range, containing quantitative requirements; second, explore extending the duration of compulsory education to increase the average years of schooling to 11.7 years; third, promote the whole-chain breakthrough of core technologies such as integrated circuits, cultivate emerging and future industries, and coordinate the construction of low-altitude infrastructure.

- **NPC Economic Theme Meeting**: The output value of six major emerging pillar industries is expected to exceed 10 trillion yuan by 2030; a 100-billion-yuan fiscal arrangement to boost domestic demand; improve market stabilization mechanisms. The six major emerging pillar industries include integrated circuits, aerospace, biomedicine, low-altitude economy, new energy storage, and intelligent robots. Their output value was close to 6 trillion yuan in 2025 and is expected to double or more to over 10 trillion yuan by 2030. The scale of AI-related industries will exceed 10 trillion yuan by the end of the 15th Five-Year Plan. This year, the central government has specially allocated 100 billion yuan to launch a package of fiscal and financial policies to boost domestic demand.

- **Ten incremental pieces of information from the March 6 economic theme press conference**. 109 major projects under the 15th Five-Year Plan have emerged, covering trillion-level hard-core tracks such as energy, transportation, and AI computing power; investment in the "Six Networks" exceeds 7 trillion yuan, locking in the main line of annual domestic demand expansion; 100-billion-yuan fiscal and financial coordination tools precisely target private investment and household consumption; six major emerging pillar industries aim for 10 trillion yuan by 2030; national-level M&A funds, Huijin's "stabilization fund" to support the market, and the expansion reform of the ChiNext are advancing simultaneously.

 The fourth session of the 14th National People's Congress held a press conference at the press hall of the Media Center in Beijing, covering education, healthcare, and employment. Minister of Human Resources and Social Security Wang Xiaoping stated that the ministry is studying relevant measures to actively leverage AI's role in creating new jobs and empowering traditional positions, promoting inclusive development that coordinates technological progress and improved people's livelihoods.

- **China's gold reserves increased by 30,000 ounces month-on-month at the end of February, marking 16 consecutive months of accumulation!** Central bank data shows that China's gold reserves stood at 74.22 million ounces at the end of February, compared with 74.19 million ounces at the end of January, marking the 16th consecutive month of gold accumulation. Data from the State Administration of Foreign Exchange shows that as of the end of February 2026, China's foreign exchange reserves stood at $3.4278 trillion, an increase of $28.7 billion or 0.85% from the end of January.

- **After the Chinese bulk carrier "Iron Lady," another cargo ship passes through the Strait of Hormuz! At least 10 merchant ships follow suit by disguising themselves as "Chinese-flagged."** As the Strait of Hormuz is effectively shut down, the Chinese bulk carrier "Iron Lady" passed through the strait, and a second bulk carrier flying the "Chinese shipowner" flag successfully passed through over the weekend. According to media statistics, at least 10 stranded merchant ships have quietly followed suit by disguising themselves as "Chinese-flagged" to pass through the strait. Analysts said, "Crew members are trying to conceal links to specific ports, destinations, or nationalities, which involves a degree of deception."

- **Longgang District, Shenzhen plans to launch the first "Ten AI Lobster Policies."** The Longgang District of Shenzhen released the "Several Measures to Support the Development of OpenClaw & OPC (Draft for Comment)," launching the "Ten AI Lobster Policies": free deployment, three months of free computing power, 30% subsidy for large model usage fees, and up to 100 million yuan in equity investment, aiming to seize the global high ground for intelligent agents and "one-person company" entrepreneurship.

### Overseas

- **Son of Ayatollah Khamenei succeeds as Iran's Supreme Leader**. According to CCTV News and Iran's Tasnim News Agency on March 9, the Iranian Assembly of Experts elected Mojtaba Khamenei (son of the late Supreme Leader Ayatollah Ali Khamenei) as the third Supreme Leader of the Islamic Republic of Iran with an overwhelming majority.

 Earlier, Iran had made a final decision on the new Supreme Leader but did not disclose the name. In response, the Israel Defense Forces reiterated that it would target Khamenei's successor. Recently, U.S. President Trump claimed he "must personally participate" in selecting Iran's next leader and stated he would not accept the son of the late Supreme Leader Khamenei as Iran's new leader. Iran says it has the capability to wage a high-intensity war for more than six months.

- **Middle East crude oil "production halt wave": UAE and Kuwait announce production cuts**. Saudi Aramco shares rose as much as 4.3% at the opening of the Saudi stock market, the largest gain since April 2023.

- **Besant says more sanctions on Russian crude may be lifted to release "stranded offshore crude" and suppress oil prices**. Besant stated that more sanctions on Russian crude may be lifted, and the release of stranded offshore crude will be studied. Currently, the offshore inventory of sanctioned crude from Russia, Iran, and Venezuela reaches 375 million barrels. Goldman Sachs estimates that every 100 million barrels reduction in offshore inventory will lower Brent oil prices by $3 to $4; a large-scale lifting would put downward pressure of more than $10 per barrel on oil prices.

- **Besant slams JPMorgan over report claiming U.S. ship insurance "insufficient to cover Iran risk."** A JPMorgan report stated that the U.S. DFC's insurance funds for oil tankers in the Persian Gulf are far from sufficient to cover Iran-related risks. Besant denounced the report as "extremely irresponsible" and based on false assumptions, pointing out that regular insurance resumes once ships leave the Gulf and the risk gap is severely overestimated. Less than two months ago, Besant publicly criticized a Deutsche Bank analyst.

- **U.S. announces conditional relaxation of sanctions related to Venezuela's gold trade! Venezuela's acting president: Accelerate U.S. access to Venezuelan minerals, including gold and rare earths, at "Trump-like speed."** According to NBD, the U.S. Treasury Department conditionally lifted sanctions on Venezuela's gold trade, allowing U.S. entities to participate in the export, refining, and resale of Venezuelan gold. Meanwhile, the U.S. Secretary of the Interior visited Caracas with more than 20 mining representatives, and Venezuela's acting president promised to open mining rights for gold, diamonds, and rare earths at "Trump-like speed." The U.S. and Venezuela have resumed diplomatic relations after a six-year hiatus, and a strategic game around mineral resources is accelerating.

- **U.S. private credit crisis is gradually replicating the "subprime mortgage crisis."** BlackRock restricted redemptions from a $26 billion fund; Blackstone's BCRED received a record 7.9% redemption request; Blue Owl's stock fell below its IPO price. PIMCO warned that direct lending will face a "full default cycle." The crisis stems from a structural mismatch between semi-liquid products and long-duration underlying assets. A redemption wave triggers asset sales, valuation cuts trigger more redemptions, and the vicious cycle is highly similar to the 2008 subprime crisis.

## Selected Research Reports

- **To truly suppress oil prices, the U.S. has "almost only one option": the Strait of Hormuz**. This week, the U.S. government successively announced measures such as providing insurance and escorts for passing oil tankers, temporarily relaxing sanctions on Russian crude, and boosting Venezuela's oil production. However, most experts judge that only a rapid restoration of the Strait of Hormuz's transit capacity can fundamentally reverse the oil price trend. Brent crude closed at $93 per barrel last week, up 28% for the week, hitting a new high since 2023.

- **Goldman Sachs "rips up report": If the Strait of Hormuz does not "recover as expected" in the coming days, oil price "huge upside risk" rapidly expands**. Goldman Sachs reversed its previous optimistic forecast, pointing out that the Strait of Hormuz's flow has dropped by over 90%, worse than assumed; alternative pipeline redirection is only 0.9 mb/d, far below theoretical levels; the supply shock is unprecedented. Oil price upside risks are "rapidly expanding." If there are no signs of recovery this week, oil prices could break $100 next week; if flows remain depressed throughout March, oil prices will surpass the 2008 and 2022 historical peaks.

- **Goldman Sachs: Claude Cowork becomes the first "trusted case of agent workflow"; OpenClaw demonstrates the future direction of human-computer interaction**. Goldman Sachs believes that AI general intelligence layer applications have entered a new stage. Claude Cowork fills the gap between developer tools and ordinary users, not replacing core systems such as CRM/ERP but reshaping SaaS value distribution. OpenClaw demonstrates a new form of human-computer interaction, and its low-cost hosting model is breaking the monopoly of major companies, bringing new computing power opportunities to edge computing and VPS providers.

- **"Agent AI" rises, CPU makes a comeback?** HSBC Research found that 44% of tasks in "agent AI" workflows rely on CPUs, 3-4 times that of traditional AI computing, making CPUs and memory the biggest bottlenecks restricting data center computing power. The bank significantly raised its 2026 global server shipment forecast to 20% year-on-year growth, and believes that constrained by supply chain capacity, real market demand could be as high as 60%, with growth dividends lasting until 2028.

- **When will the global market correction end? Will the "2020s market" repeat the 1970s stagflation script?** Signs of the end of the global market correction have emerged but are not yet fully in place: oversold assets have bottomed out and overbought assets have been sold, but oil prices and the U.S. dollar have not reversed, and the S&P 500 has not fully cleared. The baseline scenario for the 2020s leans toward an inflationary boom rather than 1970s-style stagflation, with key variables being the situation in Iran and oil price trends. NVIDIA's withdrawal of a 100-billion-yuan AI investment may signal a slowdown in AI capital expenditure growth.

# Domestic Macro

Lan Fo'an of the Ministry of Finance: Fiscal policy will maintain a more proactive stance in 2026, with a 100-billion-yuan package to boost domestic demand. Minister of Finance Lan Fo'an stated that China will maintain a more proactive fiscal policy this year, keeping the intensity unchanged on the basis of last year's aggregate expansion. The central government has earmarked 100 billion yuan for a package of fiscal and financial coordinated policies to stimulate domestic demand, forming a transmission chain of fiscal guidance, financial amplification, and market-based operation, to leverage more social resources into key areas of domestic demand expansion. Combined with the 250 billion yuan consumer goods trade-in policy this year, the policy intensity is greater than last year.

Pan Gongsheng: We will guide and regulate interest rate levels, have no intention to gain trade advantages through currency depreciation, and curb "involutionary" competition. Pan Gongsheng noted that the current RMB/USD bilateral exchange rate is in the median range over recent years. China has no need or intention to gain competitive trade advantages via exchange rate depreciation. From a financial perspective, China will curb "involutionary" competition in some industries, support economic restructuring, transformation and upgrading, and strengthen coordination between monetary and fiscal policies in interest discounts, guarantees, risk cost sharing and other areas to amplify policy effects.

Wu Qing: Improve a market stabilization mechanism with Chinese characteristics, optimize refinancing mechanisms, and launch shelf offerings. Chairman of the CSRC Wu Qing said that during the 15th Five-Year Plan period, China will improve a market stabilization mechanism with Chinese characteristics, enrich cross‑cyclical and counter‑cyclical regulatory tools, and enhance the market’s inherent stability. A more precise and inclusive listing standard will be added to the ChiNext. High-quality innovative enterprises in new consumption and modern services will be actively supported to list on the ChiNext. The refinancing registration system will be further optimized at the regulatory level. Shelf offerings will be introduced to guide rational and effective financing.

China is tackling long-term extraterrestrial survival. According to CCTV Military, Wang Yaping, member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), revealed during a group discussion that China’s aerospace sector is accelerating its march into deep space. The Astronaut Center of China is leading the application for an extraterrestrial survival research facility to solve the problem of long-term human survival on planets beyond Earth. "The rapid development of China’s manned space program has made me deeply realize how fortunate I am to live in a strong and stable China and to live in such a great era!"

# Domestic Companies

A new era of energy security: revaluing China’s "Three Oil Giants"? Geopolitical shifts are reshaping the value of "energy security". Morgan Stanley is broadly bullish on China’s three oil majors. The bank believes that PetroChina controls core domestic resources and is evolving from a price taker to a "domestic energy security champion" with pricing power. While Sinopec faces inflationary pressure on freight costs, its downstream profitability still has upside potential. CNOOC, with its ultra-low costs and production growth potential, will amplify profit elasticity under high oil prices.

# Overseas Macro

U.S. February non-farm payrolls miss badly: employment falls by 92,000, previous two months revised down by 69,000, unemployment rate unexpectedly rises to 4.4%. U.S. non-farm payrolls fell by 92,000 in February, far below expectations, marking the second monthly decline since 2020. The unemployment rate rose to 4.4%. The BLS revised down the previous two months’ data by a combined 69,000. While employment weakened broadly, average hourly earnings accelerated to 3.8% year-on-year, indicating persistent labor cost pressures. Coupled with rising oil prices amid escalating Middle East tensions, the combination of shrinking employment and sticky wages has put the Fed in a policy dilemma, intensifying market fears of stagflation. The "new Fed wire" noted that the Fed’s worst-case scenario is approaching.

Goldman Sachs exposes U.S. stocks’ "false calm": short ETFs and volatility index surge, market is extremely fragile. Despite modest S&P 500 pullbacks amid geopolitical shocks, Goldman Sachs flow experts warned that panic beneath the surface of U.S. stocks is boiling, with an extremely fragile structure hidden under "false calm". The volatility fear index is surging, and short ETF positions have seen one of the largest increases in five years. Total market leverage is at the 99th percentile in history, with extremely crowded positioning and heavy reliance on the profit engine of AI giants.

# Overseas Companies

In January this year, Cursor—the "AI coding star" once in the limelight—found its market may be disappearing. AI coding tool unicorn Cursor held an all-hands "wartime mobilization" meeting in January, as the core logic of its "human-machine collaboration editor" was fundamentally upended by surging AI model coding capabilities and developers’ ability to issue direct instructions to agents. Cursor is seeking breakthroughs along two paths: developing a proprietary in-house coding model to cut costs, and accelerating its shift to the enterprise market, betting on the future of multi-agent collaboration platforms.

# Industries / Concepts

1. Aerospace

According to CCTV News on March 7, the Long March 8A Yao-8 carrier rocket, developed by China Academy of Launch Vehicle Technology, was successfully transported to the No.1 launch pad at Hainan Commercial Space Launch Site, with a launch planned in the near future. On the same day, Elon Musk announced via X that SpaceX’s Starship V3 is expected to conduct its first flight within four weeks. With larger size and stronger thrust, it is the first model capable of in-orbit refueling, laying the foundation for NASA’s Artemis lunar program and future Mars missions.

**Comment**:

The Long March 8A is designed for high-density, rapid constellation deployment and is a core launch vehicle for China’s satellite internet construction. China’s GW constellation is the only national strategic low-orbit satellite internet infrastructure, led by China Satellite Network Group, aiming to build an independent, globally covered space‑ground integrated 6G network. In this year’s Government Work Report, aerospace was defined as an "emerging pillar industry" for the first time, and satellite internet was mentioned separately for the first time. In 2025, China completed 92 space launches, a record high, including 50 commercial launches accounting for 54%. Successful launches of private commercial rockets such as Gravity-1, Hyperbola-1 and Zhuque-3 marked qualitative breakthroughs for China’s leading commercial rocket firms, with the industry set to accelerate. As a strategic highland in major‑power competition, commercial aerospace enjoys rising policy support and accelerated implementation. A wave of debut launches is expected in China in the first half of the year, with policies, industry and capital resonating.

2. NAND

According to South Korean sources on March 8, Samsung Electronics plans to double NAND flash prices sharply again in Q2. Samsung raised contract prices for NAND flash by more than 100% in Q1 2026, meaning the firm alone intends to lift NAND prices by over 200% in the first half of the year. Other major producers including SK Hynix (Korea) and Kioxia (Japan) also plan further price hikes.

**Comment**:

Samsung’s plan to double NAND prices for two consecutive quarters signals that the memory shortage may be more severe for NAND than DRAM. Since late last year, DRAM supply has tightened and prices risen amid AI demand, and NAND flash supply has also been affected. Strong expansion in AI infrastructure has boosted enterprise SSD demand, while high‑performance, high‑capacity storage adoption in mobile and PC devices continues to grow, further lifting NAND demand alongside edge AI development. Led by Samsung, major NAND makers have been raising prices in sync.

3. Artificial Intelligence

According to China Securities Journal, the biggest star in tech recently is "OpenClaw". On March 6, a long queue formed outside Tencent’s Shenzhen headquarters, with hundreds of developers and AI enthusiasts gathering to deploy OpenClaw on the cloud with Tencent Cloud engineers, proving its huge popularity. Beyond simple text dialogue, OpenClaw can autonomously open software, process spreadsheets, fill forms, send and receive emails, operate web pages and complete other practical tasks.

**Comment**:

The industry widely views OpenClaw’s boom as marking the AI industry’s shift from "conversation models" to the "agent era". OpenClaw is pushing agents from productivity tools to continuous productive capacity. With efficient interaction, long‑short term memory and high‑authority execution, agent functions are approaching an "AI secretary". The State Council’s "Opinions on Further Implementing the 'AI+' Action" aims for agent application penetration exceeding 70% by 2027 and over 90% by 2030. The global AI agent market was about $5 billion in 2024 and is projected to surpass $50 billion by 2030, with a CAGR of 45%.

4. Urea

The spillover from the Middle East conflict extends beyond energy markets. As tensions persist, the global fertilizer supply chain faces new disruptions. The Middle East is a major global fertilizer production hub, and the Strait of Hormuz is a key shipping lane for fertilizer exports. Experts note that about one‑third of global urea exports come from the Gulf region. Qatar, Saudi Arabia and Iran—among the world’s top ten urea exporters—all have their exports effectively trapped inside the Strait of Hormuz.

**Comment**:

Urea is the most widely used nitrogen fertilizer, supporting roughly half of global food production. The Strait of Hormuz also carries about 45% of global sulfur exports, a key raw material for phosphate fertilizers. Fertilizer prices have already risen noticeably. Experts expect nitrogen fertilizer prices could double, and phosphate prices to rise more than 50% from current levels. With the Northern Hemisphere entering spring planting, the impact may further transmit to grain prices.

5. Thermoelectric Generation from Body Heat

Turning humans into "walking power banks" is moving from sci‑fi to reality. According to the official website of the Chinese Academy of Sciences (CAS), a research team from the CAS Institute of Chemistry has successfully developed a special flexible plastic thermoelectric thin‑film material. It can be bent freely, generate electricity from the temperature difference between the human body and the environment, quietly converting body heat into electricity to charge portable electronic devices. Its key performance has set a new world record for similar materials.

6. Methionine

According to China Chemical News, global giant Evonik announced on March 5 a 10% global net price increase for its MetAMINO (feed‑grade DL‑methionine 99%), effective immediately, with all existing contracts and supply agreements honored. As of March 8, 2026, domestic methionine prices stood at around 20.51 yuan/kg (about 20,500 yuan/ton), up over 10% in the past 10 days and more than 20% in the past month, with the market generally holding firm.

**Comment**:

Drivers of the rally:

1) Geopolitical conflicts push up raw material costs. Escalating Iran tensions and Strait of Hormuz disruptions have lifted global oil and gas prices, significantly increasing costs of key methionine feedstocks (natural gas, methanol, propylene). Shipping and insurance costs have also risen, squeezing margins of methanol‑based production.

2) Proactive supply controls. Many producers have suspended quotations and signing, with strong reluctance to sell. NHU, Ningxia Ziguang and others have raised prices successively, while Adisseo’s liquid methionine plant is under maintenance, causing temporary supply tightness.

3) Recovering downstream breeding demand. Improved poultry farming profitability: egg prices have risen over 30% since January, broiler farming has entered profitable territory, boosting feed‑grade methionine demand.

In the short term, methionine prices are expected to remain strong supported by high costs, tight supply and recovering demand, with further hikes planned by some producers.

# Today’s Key News Preview

- China’s February financial data

- China’s February CPI and PPI

- Hong Kong plans to issue first stablecoin licenses in March

- Alibaba Cloud Bailian’s speech recognition model SenseVoice‑v1 to be taken offline

- ROK‑US joint military exercises scheduled March 9–19

---

# Risk Warning and Disclaimer

The market is subject to risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, views or conclusions in this article suit their particular circumstances. Investment decisions are at one’s own risk.