"NDRC Issues $91.5B in Special Bonds for 6,700+ Advanced Manufacturing and Infrastructure Projects"

Federal Reserve Chair Jerome Powell stated at a press conference that although some officials voted against keeping the dovish wording unchanged in the policy statement at the latest monetary policy meeting, he believes these officials do not lean toward raising interest rates. Powell noted: "These people are not suggesting we need to hike interest rates right now. The discussion is mainly about whether the Federal Reserve should adopt a neutral stance on the outlook for monetary policy."

[SMM Shanghai Spot Copper] Looking ahead to the post-holiday period, demand side, enterprises are still primarily making just-in-time procurement, and demand is unlikely to see significant increases after the holiday. In addition, some downstream processing enterprises prefer to purchase directly from smelters to ensure bill compliance, diverting some spot demand from the trading market. Supply side, first, diesel shortages in Africa have hindered transportation and logistics, delaying the pace of imported cargo arrivals at ports, resulting in tight imported copper supply in the short term; second, according to SMM, five smelters in China are expected to enter maintenance in May, which will also reduce domestic spot copper circulation. Overall, against the backdrop of tightened spot circulation caused by hindered imports and domestic maintenance, suppliers have a strong willingness to hold prices firm, and Shanghai spot copper premiums are expected to hold up well after the holiday.