Group 1 - The core viewpoint of the article is that CITIC Resources (01205) reported its annual performance for the year ending December 31, 2025, showing a significant increase in revenue but a substantial decrease in profit attributable to shareholders [1][5]. Group 2 - The company achieved a revenue of HKD 14.965 billion, representing a year-on-year increase of 57.6% [1][5]. - The profit attributable to ordinary shareholders was HKD 171 million, which reflects a year-on-year decrease of 70.2% [1][5]. - Earnings per share were reported at HKD 0.0217 [1][5]. Group 3 - The decrease in profit is primarily attributed to several factors: a significant decline in the average selling prices of crude oil and coal, a substantial increase in the cost of raw materials, particularly alumina used in the Portland Aluminium Smelter, and the cessation of ownership in Alumina Limited from July 18, 2024, leading to a significant reduction in profits from joint ventures [1][5]. - Additionally, a joint venture involved in the extraction, production, and sale of oil, as well as the production and sale of road asphalt and clarified oil, reported losses due to a year-on-year decline in average crude oil prices [1][5].

中信资源(01205)发布截至2025年12月31日止年度业绩，该集团取得收入149.65亿港元，同比增加57.6%; 公司普通股股东应占溢利1.71亿港元，同比减少70.2%;每股盈利2.17港仙。 公告称，溢利减少乃主要由于以下因素：本集团原油及煤炭的平均售价同比大幅下降;原材料尤其是 Portland Aluminium Smelter生产所用氧化铝的成本同比大幅上升; 因本集团自2024年7月18日起不再持有 Alumina Limited的任何权益，导致应占联营公司溢利大幅减少;及应占一间主要从事开采、生产及销售 石油以及生产和销售道路沥青及澄清油的合营企业的同比亏损，此乃因合营企业原油平均售价较同比下 跌所致。 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The upstream of the agricultural industry is recovering, while the middle - stream of the chemical industry is showing differentiation. The production and service industries are affected by various factors such as geopolitical conflicts and inflation [1] 3. Summary by Related Catalogs 3.1. Production and Service Industries - **Production Industry**: 32 IEA member countries agreed to release 400 million barrels of oil from their emergency reserves. Japan plans to release national oil reserves as early as the 16th, and Germany will release 2.4 million tons of national oil reserves [1] - **Service Industry**: In February, the US CPI increased by 2.4% year - on - year, and the core CPI increased by 2.5% year - on - year. There is a risk of inflation rebound in the US, and the market expects the Fed to cut interest rates in July [1] 3.2. Industry Overview 3.2.1. Upstream - **Energy**: The prices of liquefied natural gas and international crude oil are continuously rising [2] - **Agriculture**: The prices of eggs and palm oil are recovering [2] - **Non - ferrous Metals**: The price of aluminum has a slight recovery [2] 3.2.2. Middle - stream - **Chemical Industry**: The PX operating rate remains high, while the polyester operating rate is low [3] - **Energy**: The coal consumption of power plants is at a low level [3] - **Infrastructure**: The operating rate of road asphalt is at a low level [3] 3.2.3. Downstream - **Real Estate**: The sales of commercial housing in first - and second - tier cities have a seasonal decline [4] - **Service**: The number of domestic flights has decreased [4] 3.3. Key Industry Price Indicators - **Agriculture**: The spot prices of corn, eggs, palm oil, and cotton have increased to varying degrees, while the average wholesale price of pork has decreased [35] - **Non - ferrous Metals**: The spot price of aluminum has increased, while the prices of copper, zinc, and nickel have decreased [35] - **Ferrous Metals**: The spot prices of螺纹钢, iron ore, and wire rod have increased [35] - **Non - metals**: The spot prices of natural rubber and glass have increased, and the China Plastic City price index has also increased significantly [35] - **Energy**: The spot prices of WTI crude oil, Brent crude oil, and liquefied natural gas have increased, while the coal price has decreased slightly [35] - **Chemical Industry**: The spot prices of PTA, polyethylene, urea, and soda ash have increased [35] - **Real Estate**: The cement price index has decreased, while the building materials comprehensive index has increased slightly, and the concrete price index has remained unchanged [35]

Investment Rating - The report emphasizes low valuation companies in the energy sector with a PE ratio below 20X for the 2026 profit forecast [2] Core Insights - The report highlights the importance of "selling shovel" companies in the coal chemical sector, particularly in the context of fluctuating oil prices, which significantly impact the economic viability of coal chemical projects [3][13] - It identifies several key players in the energy engineering sector, including Donghua Technology, China Energy Engineering, and China Chemical, which are involved in significant projects and are expected to see revenue growth [3][13] - The report also discusses the energy materials sector, noting that companies like Keda Manufacturing and Changbao Co. are experiencing improvements due to unexpected changes in demand [4][14] - AI new materials are highlighted as having a price increase expectation, with specific references to electronic fabrics and copper foil, indicating a strong cycle of inflation in these sectors [4][14] Summary by Sections Energy Engineering - Focus on coal chemical projects, particularly coal-to-olefins, coal-to-oil, and coal-to-natural gas, with economic viability tied to oil prices above $80 per barrel [3][13] - Key companies include: - Donghua Technology: Expected revenue of 10 billion with a 13% increase in 2025 [3][13] - China Energy Engineering: Largest green hydrogen and ammonia project globally [3][13] - Other notable mentions include China Chemical, Sanwei Chemical, and local mining companies in Xinjiang [3][13] Energy Materials - Companies like Keda Manufacturing are benefiting from the growing demand for energy storage materials [4][14] - The report notes the potential for price increases in AI materials, particularly in electronic fabrics and copper foil, driven by ongoing inflationary pressures [4][14] Market Performance - The cement sector shows a national average price of 338 RMB/ton, with a year-on-year decrease of 52 RMB/ton and a slight month-on-month decline [15][18] - The glass market sees a slight increase in prices, with the average price for float glass at 1174.93 RMB/ton, reflecting a 0.89% increase [15][36] - The report indicates a mixed performance across various building materials, with the construction index down by 6.21% [18][24]

Investment Rating - The report emphasizes low valuation companies in the energy sector, particularly those with a projected PE ratio under 20X for 2026 [2] Core Insights - The report highlights the importance of "selling shovel" companies in the coal chemical sector, which includes coal-to-olefins, coal-to-oil, and coal-to-natural gas, particularly in the context of fluctuating oil prices [3][13] - The report identifies several key companies in the energy engineering and materials sectors that are expected to benefit from these trends, including Donghua Technology, China Energy Engineering, and others [3][4][14] Summary by Sections Energy Engineering - Focus on coal chemical projects, with economic viability linked to oil prices above $80 per barrel, particularly in Xinjiang [3] - Key companies include: - Donghua Technology: Expected revenue of 10 billion with a 13% YoY increase and net profit of 533 million with a nearly 30% increase by 2025 [3] - China Energy Engineering: Involved in the world's largest green hydrogen and ammonia project [3] - Other notable companies include China Chemical, Sanwei Chemical, and local explosives firms [3] Energy Materials - Companies in this sector are experiencing improvements ahead of traditional industries due to unexpected changes [4] - Key players include: - Keda Manufacturing: Focused on negative electrode materials for energy storage [4] - Changbao Co. and Boying Welding: Engaged in HRSG, a core component for gas turbines [4] - China Jushi and China National Materials: Noted for growth in wind power fiber [4] AI New Materials - Price increase expectations are materializing, particularly for electronic fabrics and copper foil [4] - Companies to watch include China Jushi, Tongguan Copper Foil, and others involved in AI-related materials [4] Market Performance - Cement prices averaged 338 RMB/ton, down 52 RMB YoY, with a national average shipment rate of 15.1% [15] - Float glass prices increased to 1174.93 RMB/ton, with a slight rise in inventory days [15][36] - The report notes a general decline in construction material indices, with a significant drop in various sectors [18] Price Changes - Cement prices are expected to stabilize as demand gradually recovers, with a current inventory ratio of 62.88% [26] - Float glass market remains under pressure with high inventory levels and limited new orders [36][47]

Report Summary 1) Report Industry Investment Rating No information provided regarding the industry investment rating. 2) Core Viewpoints - The development of the green fuel industry is of great significance, which can replace oil, ensure energy security, reduce carbon emissions, and promote green development. It is an important direction for the development of new - quality productive forces in the energy field [1] - Due to the continuous escalation of the conflict in the Middle East, COSCO Shipping Lines has suspended new booking services for relevant routes [2] - The prices of international crude oil and liquefied natural gas continue to rise, while the pork price declines. In the mid - stream, the PX operating rate increases while the PTA operating rate is at a low level. The power plant coal consumption increases, and the road asphalt operating rate declines. In the downstream, the sales of commercial housing in first - and second - tier cities decline seasonally, and the number of domestic flights decreases [3][4] 3) Summary by Related Catalogs A. Production Industry - The National Energy Administration held a special symposium on the development of the green fuel industry, emphasizing its importance in energy substitution, carbon reduction, and new - energy utilization [1] B. Service Industry - COSCO Shipping Lines suspended new booking services for routes to and from some Middle - Eastern countries due to the conflict escalation. The new booking suspension includes routes to and from most parts of the UAE, Qatar, Bahrain, Iraq, Saudi Arabia (except Jeddah), and Kuwait. - The price of Seedance 2.0 is announced. The price is 28 yuan per million tokens for video input and 46 yuan per million tokens without video input. A 15 - second video costs about 15 yuan at the 46 - yuan price [2] C. Upstream - Energy: The prices of international crude oil and liquefied natural gas continue to rise [3][36] - Agriculture: The pork price declines [3][36] D. Mid - stream - Chemical: The PX operating rate increases, while the PTA operating rate is at a low level [4] - Energy: The power plant coal consumption increases [4] - Infrastructure: The road asphalt operating rate declines [4] E. Downstream - Real Estate: The sales of commercial housing in first - and second - tier cities decline seasonally [4] - Service: The number of domestic flights decreases [4] F. Key Industry Price Indicators | Industry | Indicator | Value (3/4) | YoY | | --- | --- | --- | --- | | Agriculture | Corn spot price | 2298.6 yuan/ton | 0.88% | | | Egg spot price | 6.3 yuan/kg | 3.46% | | | Palm oil spot price | 8960.0 yuan/ton | 3.58% | | | Cotton spot price | 16582.8 yuan/ton | - 0.80% | | | Average pork wholesale price | 17.2 yuan/kg | - 4.07% | | Non - ferrous Metals | Copper spot price | 101851.7 yuan/ton | - 0.29% | | | Zinc spot price | 24470.0 yuan/ton | - 0.22% | | | Aluminum spot price | 23966.7 yuan/ton | 2.44% | | | Nickel spot price | 140883.3 yuan/ton | - 2.05% | | | Aluminum spot price (daily) | 16650.0 yuan/ton | 0.04% | | | Rebar spot price | 3142.8 yuan/ton | 0.54% | | Ferrous Metals | Iron ore spot price | 769.7 yuan/ton | 0.79% | | | Wire rod spot price | 3317.5 yuan/ton | - 0.23% | | | Glass spot price | 13.4 yuan/square meter | 0.00% | | Non - metals | Natural rubber spot price | 16625.0 yuan/ton | 2.92% | | | China Plastics City price index | 825.6 | 5.25% | | Energy | WTI crude oil spot price | 74.6 dollars/barrel | 13.61% | | | Brent crude oil spot price | 81.4 dollars/barrel | 15.33% | | | Liquefied natural gas spot price | 3538.0 yuan/ton | 20.67% | | | Coal price (coal) | 793.0 yuan/ton | - 0.63% | | | PTA spot price | 5515.7 yuan/ton | 3.69% | | Chemical | Polyethylene spot price | 7325.0 yuan/ton | 8.73% | | | Urea spot price | 1865.0 yuan/ton | 1.91% | | | Soda ash spot price | 1202.9 yuan/ton | 0.00% | | Real Estate | National cement price index | 128.2 | - 0.90% | | | Building materials composite index | 113.6 points | - 0.22% | | | National concrete price index | 89.8 points | 0.00% | [36]

1. Report Industry Investment Rating - No information provided in the given content. 2. Core View of the Report - After the holiday, the mid - stream industry continued to recover. In the upstream, liquefied natural gas prices declined while international crude oil prices rose, and egg prices continued to fall. In the mid - stream, PX operating rate was at a high level, power plant coal consumption was at a high level, and road asphalt operating rate increased. In the downstream, the sales of commercial housing in first - and second - tier cities declined seasonally, and the number of domestic flights remained stable at a high level [1][3]. 3. Summary by Relevant Catalog Production Industry - Zimbabwe's Ministry of Mines announced a suspension of all exports of raw ore and lithium concentrate (including goods in transit). It is a phased measure, expected to resume within 1 to 4 weeks. Companies like Zhongkuang Resources and Yahua Group have sufficient raw material inventories, and the impact on production and operation is limited. Yahua Group is preparing to submit supplementary materials for export application, and Zhongkuang Resources estimates the ban may last less than a month, depending on the approval process [1]. Service Industry - The People's Bank of China issued a notice on RMB cross - border inter - bank financing business of banking financial institutions, supporting domestic banks to carry out RMB cross - border inter - bank financing business in line with market demand, with relevant management and risk control requirements [1]. Upstream - Energy: Liquefied natural gas prices declined, and international crude oil prices rose. - Agriculture: Egg prices continued to fall [3]. Mid - stream - Chemical: PX operating rate was at a high level. - Energy: Power plant coal consumption was at a high level. - Infrastructure: Road asphalt operating rate increased [3]. Downstream - Real Estate: The sales of commercial housing in first - and second - tier cities declined seasonally. - Service: The number of domestic flights remained stable at a high level [3]. Key Industry Price Indicators | Industry Name | Indicator Name | Frequency | Unit | Update Time | Current Value | Year - on - Year | Past 5 - day Trend | | --- | --- | --- | --- | --- | --- | --- | --- | | Agriculture | Spot price: Corn | Daily | Yuan/ton | 2/26 | 2278.6 | 0.19% | | | | Spot price: Egg | Daily | Yuan/kg | 2/26 | 6.1 | - 3.34% | | | | Spot price: Palm oil | Daily | Yuan/ton | 2/26 | 8650.0 | - 0.46% | | | | Spot price: Cotton | Daily | Yuan/ton | 2/26 | 16680.7 | 3.69% | | | | Average wholesale price: Pork | Daily | Yuan/kg | 2/26 | 17.9 | - 1.27% | | | Non - ferrous Metals | Spot price: Copper | Daily | Yuan/ton | 2/26 | 101981.7 | 0.62% | | | | Spot price: Zinc | Daily | Yuan/ton | 2/26 | 24450.0 | 0.03% | | | | Spot price: Aluminum | Daily | Yuan/ton | 2/26 | 23443.3 | 3.38% | | | | Spot price: Nickel | Daily | Yuan/ton | 2/26 | 143833.3 | - 1.01% | | | | Spot price: Aluminum | Daily | Yuan/ton | 2/26 | 16656.3 | - 0.22% | | | | Spot price: Rebar | Daily | Yuan/ton | 2/26 | 3138.7 | - 0.99% | | | Ferrous Metals | Spot price: Iron ore | Daily | Yuan/ton | 2/26 | 763.7 | - 2.27% | | | | Spot price: Wire rod | Daily | Yuan/ton | 2/26 | 3325.0 | - 1.26% | | | | Spot price: Glass | Daily | Yuan/square meter | 2/26 | 13.4 | 0.98% | | | Non - metals | Spot price: Natural rubber | Daily | Yuan/ton | 2/26 | 17000.0 | 3.61% | | | | China Plastic City Price Index | Daily | - | 2/26 | 784.4 | - 0.11% | | | | Spot price: WTI crude oil | Daily | US dollars/barrel | 2/26 | 74.4 | 4.11% | | | Energy | Spot price: Brent crude oil | Daily | US dollars/barrel | 2/26 | 70.7 | 4.69% | | | | Spot price: Liquefied natural gas | Daily | Yuan/ton | 2/26 | 2882.0 | - 12.45% | | | | Coal price: Coal | Daily | Yuan/ton | 2/26 | 798.0 | - 0.25% | | | | Spot price: PTA | Daily | Yuan/ton | 2/26 | 5319.4 | 2.06% | | | Chemical | Spot price: Polyethylene | Daily | Yuan/ton | 2/26 | 6736.7 | - 0.79% | | | | Spot price: Urea | Daily | Yuan/ton | 2/26 | 1830.0 | 2.38% | | | | Spot price: Soda ash | Daily | Yuan/ton | 2/26 | 1202.9 | 0.12% | | | | Cement price index: National | Daily | - | 2/26 | 129.5 | - 0.92% | | | Real Estate | Building materials composite index | Daily | Points | 2/26 | 113.8 | 0.03% | | | | Concrete price index: National index | Daily | Points | 2/26 | 89.8 | 0.00% | | [35]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The prices of the upstream sectors in the chemical and agricultural industries are continuously rising, while the mid - stream and downstream sectors show different trends. There are also important policy releases and event warnings in the production and service industries [1][2]. 3. Summary by Directory 3.1. Mid - level Event Overview - **Production Industry**: Eight departments jointly issued the "Special Action Implementation Plan for 'Artificial Intelligence + Manufacturing'" to promote AI in the manufacturing process. The Ministry of Agriculture and Rural Affairs and the China Meteorological Administration issued a snow disaster warning for facilities agriculture and animal husbandry in some regions from January 29 - 31 [1]. - **Service Industry**: Five departments in Shenzhen issued a three - year plan (2026 - 2028) to optimize the consumption environment, aiming to promote home consumption, improve the smart home industry ecosystem, and encourage the integration of home products with AI [1]. 3.2. Industry Overview 3.2.1. Upstream - **Chemical**: The prices of PTA and polyethylene are continuously rising [2]. - **Agriculture**: The prices of eggs and palm oil are rising [2]. - **Energy**: The international crude oil price has been increased [2]. 3.2.2. Mid - stream - **Chemical**: The PX operating rate remains at a high level [3]. - **Energy**: The coal consumption of power plants has decreased [3]. - **Infrastructure**: The operating rate of road asphalt has declined [3]. 3.2.3. Downstream - **Real Estate**: The sales of commercial housing in first, second, and third - tier cities have seasonally declined [4]. - **Service**: The number of domestic flights has increased [4]. 3.3. Key Industry Price Index Tracking - **Agriculture**: On January 28, the spot prices of corn, eggs, palm oil, cotton, and the average wholesale price of pork showed year - on - year increases of 0.32%, 4.28%, 4.26%, 0.35%, and 0.75% respectively [40]. - **Non - ferrous Metals**: On January 28, the spot prices of copper, zinc, aluminum, and nickel had year - on - year increases of 1.40%, 4.33%, 2.29%, and 0.31% respectively, while one of the aluminum spot prices decreased by 0.66% [40]. - **Ferrous Metals**: On January 28, the spot prices of rebar, iron ore, and wire rod had year - on - year changes of - 0.49%, 0.41%, and - 0.87% respectively [40]. - **Non - metals**: On January 28, the spot prices of glass, natural rubber, and the China Plastic City price index had year - on - year increases of 1.56%, 3.42%, and 0.83% respectively [40]. - **Energy**: On January 28, the spot prices of WTI crude oil, Brent crude oil, liquefied natural gas, and coal had year - on - year changes of 3.36%, 2.57%, 2.16%, and - 0.25% respectively [40]. - **Chemical**: On January 28, the spot prices of PTA, polyethylene, urea, and soda ash had year - on - year changes of 4.10%, 3.70%, - 0.14%, and 0.00% respectively [40]. - **Real Estate**: On January 28, the cement price index, building materials composite index, and concrete price index had year - on - year changes of - 0.49%, - 0.32%, and 0.00% respectively [40].

1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core Viewpoints of the Report - Since December 2025, the prices of Chinese chemical products have bottomed out and rebounded, with a trend reversal. As of January 26, 2026, the Chinese chemical product price index rose to 4084, a month - on - month increase of 4.2%. The year - on - year decline in PPI of the chemical raw materials and chemical products manufacturing and chemical fiber manufacturing industries in December has narrowed, indicating that the industry's price pressure is continuously easing [1]. - The newly revised "Regulations for the Implementation of the Drug Administration Law of the People's Republic of China" was announced on the 27th and will come into effect on May 15. Encouraging innovation is a prominent feature of this revision [1]. 3. Summary by Relevant Catalogs 3.1 Upstream - **Chemical**: The price of PTA continues to rise [1]. - **Energy**: The prices of international crude oil and liquefied natural gas have rebounded [1]. 3.2 Midstream - **Chemical**: The PX operating rate remains at a high level [2]. - **Energy**: The coal consumption of power plants continues at a low level [2]. - **Infrastructure**: The operating rate of road asphalt is at a low level [2]. 3.3 Downstream - **Real Estate**: The sales of commercial housing in first, second, and third - tier cities have seasonally declined [2]. - **Service**: The number of domestic flights has increased [2]. 3.4 Key Industry Price Indicators - **Agriculture**: On January 27, the spot prices of corn, eggs, palm oil, cotton, and pork increased year - on - year by 0.19%, 5.81%, 2.46%, 0.64%, and 0.92% respectively [36]. - **Non - ferrous Metals**: On January 27, the spot prices of copper, zinc, aluminum, and nickel increased year - on - year by 0.85%, 1.76%, 0.76%, and 2.34% respectively, while the spot price of aluminum decreased by 0.18% [36]. - **Ferrous Metals**: On January 27, the spot price of iron ore increased year - on - year by 1.13%, while the spot prices of rebar and wire decreased by 0.35% and 1.15% respectively [36]. - **Non - metals**: On January 27, the spot prices of glass and natural rubber increased year - on - year by 1.56% and 2.79% respectively, and the China Plastic City price index increased by 0.46% [36]. - **Energy**: On January 27, the spot prices of WTI crude oil, Brent crude oil, and liquefied natural gas increased year - on - year by 2.17%, 1.58%, and 3.63% respectively, while the coal price decreased by 0.12% [36]. - **Chemical**: On January 27, the spot prices of PTA and polyethylene increased year - on - year by about 5.87% and 2.18% respectively, while the spot prices of urea and soda ash decreased by 0.43% and 0.12% respectively [36]. - **Real Estate**: On January 27, the national cement price index and building materials composite index decreased year - on - year by 0.75% and 0.46% respectively, and the national concrete price index remained unchanged [36].

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Views of the Report - The mid - stream is continuously differentiating, and the prices of the upstream are warming up [1] - The production industry in Beijing encourages the development of value - added services based on commercial satellite data and the integration of the industrial chain [1] - The service industry will develop service trade, open up the service market, and promote the export of various services [1] Group 3: Summary by Related Catalogs Upstream - In the non - ferrous metals sector, the price of nickel has rebounded [2] - In the agricultural sector, the prices of eggs and palm oil have rebounded [2] - In the energy sector, the price of liquefied natural gas has continued to rise [2] Mid - stream - In the chemical industry, the operating rates of PX and urea have remained at high levels [3] - In the energy industry, the coal consumption of power plants is at a low level [3] - In the infrastructure industry, the operating rate of road asphalt is at a low level [3] Downstream - In the real estate industry, the sales of commercial housing in first, second, and third - tier cities have seasonally declined [3] - In the service industry, the number of domestic flights has continued to increase [3] Key Industry Price Indicators - Agricultural products: On January 26, the spot price of corn was 2267.1 yuan/ton with a year - on - year increase of 0.13%; the spot price of eggs was 8.3 yuan/kg with a year - on - year increase of 5.48%; the spot price of palm oil was 9000.0 yuan/ton with a year - on - year increase of 3.16%; the spot price of cotton was 15997.7 yuan/ton with a year - on - year increase of 1.01%; the average wholesale price of pork was 18.7 yuan/kg with a year - on - year increase of 0.81% [38] - Non - ferrous metals: On January 26, the spot price of copper was 102426.7 yuan/ton with a year - on - year increase of 1.27%; the spot price of zinc was 24682.0 yuan/ton with a year - on - year increase of 1.15%; the spot price of aluminum was 24040.0 yuan/ton with a year - on - year increase of 0.63%; the spot price of nickel was 153883.3 yuan/ton with a year - on - year increase of 5.66%; the spot price of aluminum was 17031.3 yuan/ton with a year - on - year decrease of 0.29% [38] - Ferrous metals: On January 26, the spot price of rebar was 3214.7 yuan/ton with a year - on - year decrease of 0.55%; the spot price of iron ore was 815.6 yuan/ton with a year - on - year decrease of 1.08%; the spot price of wire rod was 3425.0 yuan/ton with a year - on - year decrease of 1.58%; the spot price of glass was 13.1 yuan/square meter with a year - on - year increase of 1.56% [38] - Non - metals: On January 26, the spot price of natural rubber was 16016.7 yuan/ton with a year - on - year increase of 3.50%; the China Plastics City Price Index was 777.6 with a year - on - year increase of 0.30% [38] - Energy: On January 26, the spot price of WTI crude oil was 61.1 US dollars/barrel with a year - on - year increase of 2.92%; the spot price of Brent crude oil was 65.1 US dollars/barrel with a year - on - year increase of 1.47%; the spot price of liquefied natural gas was 3668.0 yuan/ton with a year - on - year increase of 4.38%; the coal price was 806.0 yuan/ton with a year - on - year increase of 0.37% [38] - Chemical industry: On January 26, the spot price of PTA was 5247.5 yuan/ton with a year - on - year increase of 4.75%; the spot price of polyethylene was 6846.7 yuan/ton with a year - on - year increase of 0.54%; the spot price of urea was 1745.0 yuan/ton with a year - on - year decrease of 1.27%; the spot price of soda ash was 1202.9 yuan/ton with a year - on - year decrease of 0.94% [38] - Real estate: On January 26, the national cement price index was 133.5 with a year - on - year decrease of 0.75%; the building materials composite index was 114.9 with a year - on - year decrease of 0.74%; the national concrete price index was 90.2 with a year - on - year change of 0.00% [38]