Centralized Production Resumptions Conclude, Limiting Further Supply Increases from EAF Steel Mills

To prevent and defuse local debt risks, local governments have accelerated this year’s hidden debt swap program. According to Enterprise Early Warning data, as of March 30 this year, local governments had issued about 96 billion yuan of special refinancing bonds for swapping hidden debt, accounting for nearly half of this year’s planned issuance scale (200 billion yuan).

According to China Weather Network, the National Meteorological Center continued to issue a yellow alert for severe convective weather at 6:00 on March 30: From 8:00 on March 30 to 8:00 on March 31, parts of eastern south-west China, the central and eastern parts of Jiangnan, and South China will experience thunderstorm gales above force 8 or hail. Among them, parts of southeastern Hunan, southern Jiangxi, central and eastern Guizhou, central and northwestern Guangdong, and other areas will experience thunderstorm gales above force 10, with maximum wind speeds reaching above force 11, and the possibility of tornadoes cannot be ruled out in some localities.

US President Trump said on the 29th that Iran allowed 10 oil tankers flying the Pakistani flag to pass through the Strait of Hormuz last week, and the number has now risen to 20. He told the UK's Financial Times, “These tankers have already set sail and are heading straight through the middle of the strait.” Qalibaf, speaker of Iran’s Islamic Consultative Assembly, approved the relevant decision. On the 23rd, Qalibaf posted on social media denying any negotiations with the US. Qalibaf said that spreading “fake news is intended to manipulate the financial and oil markets, thereby enabling the US and Israel to extricate themselves from the quagmire they are deeply mired in.”