Core Insights - Despite an increase in non-oil exports such as petrochemicals, steel, and minerals, the actual situation in Iran's foreign exchange market reveals significant imbalances and shortages [1] - Approximately $96 billion in export foreign exchange revenue has not returned to the national economy, weakening the country's ability to withstand sanctions and reducing effective supply in the foreign exchange market [1] - Structural issues, including a lack of an international payment system and transparent fund settlement infrastructure, contribute to the problem of foreign exchange not returning to the economy [1] Group 1 - The Iranian integrated foreign exchange trading system (NIMA) has failed to provide monitoring of foreign exchange fund flows for the central bank, serving only as an information registration tool [1] - Illegal exporters exploit cheap energy subsidies and labor to export final products while retaining foreign exchange revenues outside the national economy, negatively impacting economic security [1] - A significant portion of these foreign exchange resources is either stuck in specific trade destinations or has left the country as capital outflow, leading to a lack of quality foreign exchange for essential imports [1] Group 2 - The export of important national resources does not translate into sufficient funds returning to meet import needs, resulting in inflation and production stagnation, placing a heavy burden on society [1] - The government faces a dilemma of either accepting currency devaluation or confronting shortages of goods [1] - A solution to this deadlock lies in shifting from a passive foreign exchange management approach to an active one, with strict enforcement of rial currency governance to effectively regulate foreign exchange fund flows [1]

伊朗梅尔通讯1月3日报道，伊朗货币市场面临的核心挑战在于缺乏对外汇流动的有效监管及对资金来源 与去向的监督。经济专家侯赛尼指出，汇率波动源于四大因素：一是里亚尔被排除在美元体系外，依赖 非正式渠道结算；二是本国银行尤其是部分私营银行创造无担保货币，助长投机与通胀，政府为弥补赤 字操纵汇率，形成"赤字—通胀"恶性循环；三是出口商大量外汇未回流；四是公众因不信任本币而囤积 美元或房产，推高预防性美元需求。侯赛尼强调，仅靠提高官方汇率无法稳定市场，反而会强化贬值预 期，扰乱通胀心理。解决方法是推进结构性改革、建立正规支付系统、整顿金融秩序，并重建财政纪 律。（驻伊朗使馆经商处） ...

Group 1 - The national production material market prices increased by 0.3% from the previous week during the period from December 29, 2025, to January 4, 2026 [1] - Prices of non-ferrous metals continued to rise, with copper, aluminum, and zinc increasing by 2.9%, 1.4%, and 0.7% respectively [1] Group 2 - Rubber prices saw a slight increase, with synthetic rubber and natural rubber rising by 0.8% and 0.2% respectively [2] - Basic chemical raw material prices were mainly up, with polypropylene and sulfuric acid both increasing by 0.2%, while methanol decreased by 0.1% [2] - Fertilizer prices remained stable, with urea and compound fertilizers holding steady compared to the previous week [2] - Steel prices showed a slight decline, with rebar priced at 3360 yuan per ton, remaining stable, while ordinary medium plates and channel steel decreased by 0.2% to 3639 yuan and 3544 yuan per ton respectively [2] Group 3 - Wholesale prices of finished oil experienced a slight decline, with 0 diesel, 95 gasoline, and 92 gasoline decreasing by 0.6%, 0.5%, and 0.4% respectively [3] - Coal prices saw a minor decrease, with coking coal, thermal coal, and anthracite priced at 1037 yuan, 774 yuan, and 1156 yuan per ton, declining by 1.4%, 0.4%, and 0.3% respectively [3]

Core Viewpoint - The report provides a detailed analysis of retail prices for various food items, highlighting both month-on-month and year-on-year changes in prices, indicating trends in the food market. Group 1: Grain Prices - Rice is priced at 6.52 yuan/kg, showing a slight decrease of 0.2% month-on-month and a decrease of 0.3% year-on-year [1] - Flour remains stable at 6.12 yuan/kg, with no change month-on-month and a decrease of 1.9% year-on-year [1] Group 2: Cooking Oil Prices - Soybean oil is priced at 12.77 yuan/kg, reflecting a decrease of 0.2% month-on-month and a decrease of 1.7% year-on-year [1] - Peanut oil is at 28.62 yuan/kg, with a slight increase of 0.1% month-on-month and a decrease of 0.6% year-on-year [1] - Canola oil is priced at 16.69 yuan/kg, showing a month-on-month increase of 0.2% and a year-on-year decrease of 1.7% [1] - Blended oil is at 15.51 yuan/kg, with a decrease of 0.1% month-on-month and a decrease of 1.1% year-on-year [1] Group 3: Meat Prices - Pork (hind leg) is priced at 26.10 yuan/kg, showing a decrease of 0.2% month-on-month and a significant decrease of 13.3% year-on-year [1] - White-feathered chicken is priced at 24.66 yuan/kg, with a decrease of 0.2% month-on-month and a decrease of 2.7% year-on-year [1] - Fresh eggs are priced at 10.06 yuan/kg, reflecting a decrease of 0.3% month-on-month and a significant decrease of 14.8% year-on-year [1] Group 4: Aquatic Products Prices - Carp is priced at 21.64 yuan/kg, remaining stable month-on-month with a decrease of 2.1% year-on-year [1] - Silver carp is at 21.92 yuan/kg, showing an increase of 0.8% month-on-month and an increase of 1.1% year-on-year [1] - Grass carp is priced at 23.05 yuan/kg, with a decrease of 0.4% month-on-month and an increase of 7.1% year-on-year [1] - Crucian carp is at 29.73 yuan/kg, reflecting a decrease of 0.1% month-on-month and an increase of 4.8% year-on-year [1] - Large hairtail is priced at 48.35 yuan/kg, with an increase of 0.5% month-on-month and an increase of 1.3% year-on-year [1] - Large yellow croaker is at 55.51 yuan/kg, showing an increase of 0.7% month-on-month and an increase of 10.4% year-on-year [1] Group 5: Vegetable Prices - The average price of vegetables is 8.52 yuan/kg, reflecting a decrease of 0.7% month-on-month and an increase of 8.0% year-on-year [1] - The top five vegetables with the highest month-on-month price increases include yam (12.74 yuan/kg, +3.5%), potato (4.54 yuan/kg, +2.3%), winter melon (5.16 yuan/kg, +2.2%), bitter melon (12.79 yuan/kg, +1.6%), and carrot (5.86 yuan/kg, +1.4%) [1] - The top five vegetables with the largest month-on-month price decreases include cauliflower (8.80 yuan/kg, -5.7%), broccoli (9.99 yuan/kg, -3.7%), zucchini (8.67 yuan/kg, -3.1%), lettuce (8.31 yuan/kg, -3.0%), and spinach (10.01 yuan/kg, -2.8%) [1]

商务大数据显示，市场供应充足，2025年12月29日至2026年1月4日，全国36个大中城市猪肉零售价格环 比下降0.2%。中部地区猪肉价格降幅明显，其中郑州、武汉分别下降4.6%和3.6%。 ...

Core Insights - The average retail price of 30 types of vegetables in 36 major cities in China decreased by 0.7% week-on-week from December 29, 2025, to January 4, 2026 [1] Price Trends - Significant price drops were observed in cabbage and gourd vegetables, with cauliflower, broccoli, and zucchini prices falling by 5.7%, 3.7%, and 3.1% respectively [1] - In northern regions, vegetable prices notably decreased, with prices in Zhengzhou, Shijiazhuang, and Qingdao dropping by 2.8%, 2.2%, and 2.2% respectively [1]

Core Viewpoint - The poultry market is experiencing a relatively loose supply, leading to a decline in retail prices for eggs and broiler chickens in major cities across the country during the specified period [1] Price Trends - From December 29, 2025, to January 4, 2026, retail prices for eggs and broiler chickens in 36 major cities decreased by 0.3% and 0.2% respectively [1] - The western region saw a significant drop in egg prices, with Guiyang and Lhasa experiencing declines of 6.2% and 2.4% respectively [1] - In the central region, the price of broiler chickens decreased notably, with Wuhan and Changsha reporting declines of 1.1% and 0.8% respectively [1]

Agricultural Products Market - The national market price of edible agricultural products decreased by 0.1% from the previous week [1] - The average wholesale price of 30 types of vegetables was 5.73 yuan per kilogram, down 2.4%, with cauliflower, zucchini, and round cabbage decreasing by 13.0%, 11.6%, and 10.6% respectively [1] - Poultry product wholesale prices slightly declined, with eggs and white-cut chicken decreasing by 0.8% and 0.3% respectively [1] - Grain and oil wholesale prices remained stable with slight decreases, where flour and rice were nearly unchanged, while soybean oil, peanut oil, and rapeseed oil decreased by 0.2%, 0.1%, and 0.1% respectively [1] - The average wholesale price of six types of fruits saw a slight increase, with watermelon, apples, and bananas rising by 0.7%, 0.6%, and 0.5% respectively [1] - Wholesale prices of aquatic products slightly increased, with large hairtail, large yellow croaker, and silver carp rising by 1.0%, 0.9%, and 0.4% respectively [1] - Meat wholesale prices experienced a small increase, with pork priced at 18.50 yuan per kilogram, rising by 2.5%, while lamb and beef increased by 0.8% and 0.1% respectively [1] Production Materials Market - Prices of non-ferrous metals continued to rise, with copper, aluminum, and zinc increasing by 2.9%, 1.4%, and 0.7% respectively [2] - Rubber prices saw slight increases, with synthetic rubber and natural rubber rising by 0.8% and 0.2% respectively [2] - Basic chemical raw material prices were mainly up, with polypropylene and sulfuric acid increasing by 0.2%, while soda ash remained stable and methanol decreased by 0.1% [2] - Fertilizer prices remained stable, with urea and compound fertilizers unchanged from the previous week [2] - Steel prices showed slight declines, with rebar priced at 3,360 yuan per ton remaining stable, while ordinary medium plates and channel steel decreased by 0.2% to 3,639 yuan and 3,544 yuan per ton respectively [2] - Finished oil wholesale prices slightly decreased, with 0 diesel, 95 gasoline, and 92 gasoline dropping by 0.6%, 0.5%, and 0.4% respectively [2] - Coal prices experienced slight declines, with coking coal, thermal coal, and anthracite priced at 1,037 yuan, 774 yuan, and 1,156 yuan per ton, decreasing by 1.4%, 0.4%, and 0.3% respectively [2]

Core Viewpoint - The U.S. government has postponed the increase of tariffs on certain imported furniture items from January 1, 2026, to January 1, 2027, to facilitate ongoing trade negotiations and ensure economic security and supply chain stability [1] Group 1: Tariff Changes - The announcement affects tariffs on upholstered chairs, cabinets, and bathroom cabinets [1] - The postponement is not a delay in imposing tariffs but rather a delay in increasing existing tariffs [1] Group 2: Impact on Exports - Wooden products exported to the U.S. will still be subject to existing tariffs of 10% and 25% under Section 232 [1]

Group 1 - South Korea's exports to the United States are projected to grow by 28.2% from 2021 to 2025, indicating a significant diversification in export markets [1] - Exports to ASEAN countries increased by 12.5%, with exports to Vietnam specifically growing by 10.8% during the same period [1] - The increase in exports is attributed to major South Korean companies like Samsung and LG establishing factories in Vietnam, which boosts the export of intermediate goods and key components [1] Group 2 - South Korea's exports to ASEAN are expected to rise from $108.8 billion in 2021 to $122.4 billion by 2025 [1] - Exports to Vietnam are anticipated to grow from $56.7 billion to $62.8 billion in the same timeframe [1] - The trend reflects a broader strategy of South Korean firms to enhance investment and industrial cooperation with the U.S. and ASEAN markets [1]