Market Expectations of Fed Interest Rate Hike in March Has Slowed Down Significantly After Silicon Valley Bank Bankruptcy

According to SMM research, due to high costs, a large stainless steel plant in north China reduced the output

Since March, in the footsteps of the strongest ever car discount in history launched by Hubei province, the auto market in China ushered in broad-based price cuts. Many provinces and cities like Beijing, Shanghai, Tianjin, Sichuan and Hainan have successively launched various subsidy policies for car purchases, covering dozens of auto brands. SMM has sorted out the preferential measures introduced by some provinces, cities and car companies recently, and elaborated on the effect of the ongoing price war.

The dollar strengthened on Thursday after unemployment claims pointed to a still strong U.S. jobs market and other data showed growing labor costs, indicating the Federal Reserve has further to go in raising interest rates to tame inflation.

The Fed's Bostic said that it still believes that the interest rates need to rise to 5.00%-5.25% and need to remain at this level until 2024.

Wang Xiaoping, Minister of Human Resources and Social Security, said that judging from the situation in the first two months of this year, the job market was stable and orderly, which was better than expected.

In January, the National Development and Reform Commission held a special meeting on price stabilisation.

Jamie Dimon, the CEO of JPMorgan warned that it was too early to declare a beat on inflation and that the US Fed might raise interest rates to above 5% if inflation proves sticky.

Investors are stampeding away from the dollar, as softer-than-expected U.S. consumer price data raises hopes that the Federal Reserve may need to tighten monetary policy less than expected in its fight against inflation and bolsters the case for risky assets.

DCE iron ore futures declined by 1.39% today, the main contract closed 675.5. The traders' willingness to ship is general .The steel mills are purchase on demand.

DCE iron ore futures declined by 4.11% today, the main contract closed 606.5. The traders' willingness to ship is less. The steel mills are purchase on demand.