600328, hits the daily limit straight after lunch! The chemical sector, all experiencing a surge! Middle East, suddenly breaking news!

On the afternoon of March 10, the A-shares chemical sector surged again.

Coal chemical and salt chemical sectors led the gains, with JinNiu Chemical and China National Salt Industry Co., Ltd. (600328) hitting the daily limit. Previously, Jinpu Titanium, Baichuan Shares, and Lianke Technology also hit the limit. Baofeng Energy, Ande Su, Zhongtai Chemical, Satellite Chemical, and Hengyi Petrochemical showed strong increases.

According to media reports, Qatar’s Ras Laffan plant—the world’s largest liquefied natural gas export facility—has experienced no ships departing for five consecutive days. This is the longest interruption since records began in 2008, directly threatening further rises in global LNG prices and posing risks to downstream chemical supplies.

Additionally, the UK Maritime Trade Operations Office stated on the 11th that a container ship was attacked and damaged near the waters off the UAE, with all crew members safe.

The UK Maritime Trade Operations Office issued a statement saying the vessel reported being attacked by a suspected but unidentified projectile approximately 25 nautical miles (about 46 kilometers) northwest of Ras Al Hamra, UAE. The extent of damage is unclear, and an investigation is ongoing.

The United Nations Conference on Trade and Development (UNCTAD) released a report on the 10th stating that escalating tensions in the Middle East are disrupting shipping through the Strait of Hormuz, with impacts far beyond the region, affecting energy markets, maritime transportation, and global supply chains.

The report notes that the Strait of Hormuz is a critical global energy route, carrying about a quarter of the world’s seaborne oil trade, as well as large volumes of liquefied natural gas and fertilizers. Shipping disruptions in the Strait have driven up energy and fertilizer prices, including freight, shipping fuel, and insurance costs, leading to increased transportation costs across the supply chain. These factors may push up food prices and affect daily life in some countries and regions, with the most vulnerable economies being hit hardest.

The report emphasizes that developing economies face particular risks, as some carry heavy debt burdens, have limited fiscal space, and are less able to absorb new price shocks.

It states that the overall impact of escalating tensions in the Middle East on the global economy will depend on the duration and scale of shipping disruptions through the Strait of Hormuz. Continuous monitoring of the situation is necessary, especially to assess its impact on vulnerable economies.

Proofread by: Zhao Yan