China's bulk commodity price index posted solid year-on-year growth in February, signaling stable market conditions and resilient underlying momentum despite a slight monthly dip due to the Spring Festival holiday, industry data showed on Wednesday.
The index stood at 124.9 points in February, down 0.4 percent from January but up 10.9 percent compared with the same period last year, according to the China Federation of Logistics and Purchasing (CFLP).
Of the 50 major bulk commodities monitored by the federation, 24 registered month-on-month price increases. Oxidized praseodymium neodymium posted the strongest gain, rising 24.3 percent from January, followed by styrene-butadiene rubber (up 5.4 percent) and polyvinyl chloride (up 3.5 percent).
Analysts attribute the slight monthly decline to seasonal factors, with the holiday period temporarily dampening activity. However, the robust year-on-year growth suggests the market's positive trajectory and internal drivers remain intact.
As industries resume full operations after the holiday and investment and consumption demand pick up, the market is expected to gradually recover and stabilize in the coming months, the CFLP said.
China's bulk commodity price index up 10.9 pct y-o-y in Feb
The usually bustling streets in the travel hub of Dubai in the United Arab Emirates (UAE) remain quiet while the city's airport -- normally one of the busiest in the world -- is practically deserted following Iranian missile attacks that have affected civilian areas over the past few days.
Joint military strikes launched by the U.S. and Israel on Iran on Saturday have triggered a sharp escalation across the Middle East, setting off waves of missile exchanges, mounting casualties, and far-reaching political and security repercussions.
Iran has responded with retaliatory strikes on various targets, with explosions reported in numerous countries including the UAE.
In recent days, the sounds of blasts have echoed in Dubai, leading to a noticeable decrease in the number of people and vehicles on the streets, while UAE authorities have advised residents to remain vigilant.
The closure of airspace across the Gulf region has also caused widespread disruption and left hundreds of thousands of passengers stranded.
Dubai International Airport now appears virtually empty, with no information displayed on the arrival boards.
Only one screen is operational for departures, and while the majority of flights have been canceled, the UAE has now started permitting a limited number to take off via what it is calling "safe air corridors" in careful coordination with other Gulf countries.
Some travelers gathered in the airport's waiting area on Tuesday, hoping to secure a spot on one of the handful of flights out of the country.
"I'm going back to India. I'm really excited. I came as a tourist. I arrived a week ago. I should have left on Sunday. But I'm leaving on Tuesday, today, two days later," said one Indian traveler.
However, many more remain stuck and can only wait patiently for more updates from airlines.
"I bought one (ticket) a month ago. But the plane that should fly now is canceled. I cannot fly away," said a stricken visitor from Germany.
Despite the circumstances, others say they will stay put and see how the situation unfolds.
"Yeah, I will stay in Dubai," said a worker from Uganda.
The number of visitors in the typically lively Dubai Mall is also noticeably down, while the landmark Apple Store is also presently closed.
The UAE's Ministry of Defense said on Wednesday that its air defense systems have intercepted close to 900 Iranian drones since the crisis erupted.
The ministry also confirmed that the attacks on the UAE have resulted in three fatalities as well as 78 minor injuries.
Dubai streets remain quiet as travel disruption continues after Iranian attacks
