1. Huayou Cobalt: Starting May 1, 2026, Huafeng Nickel & Cobalt will temporarily suspend production for maintenance on some of its production lines. This maintenance is expected to affect approximately 50% of Huafeng Nickel & Cobalt's output.
2. The UAE announced its withdrawal from OPEC and OPEC+ on Tuesday. Against the backdrop of the Iran war triggering a historic energy shock and shaking the global economy, this is a heavy blow to the organization and its de facto leader, Saudi Arabia.
3. The International Copper Study Group (ICSG) stated in its latest monthly report that the global refined copper market experienced a surplus of 276,000 tons in February, compared to a surplus of 34,000 tons in January.
4. According to Mysteel, shipments of commodities such as Jimba have begun at ports; reliable sources also indicate that the release of cargoes from ports will provide the market with over 10 million tons of medium-grade resources, significantly increasing market supply and resource liquidity.
5. The Netherlands' refusal to accept Argentine soybean meal due to concerns about its genetically modified components has drawn market attention. This month, the Netherlands rejected at least two shipments of Argentine soybean meal due to the discovery of unapproved genetically modified (GM) components. The European Commission website shows that notifications on April 14th and 17th both indicated the presence of unauthorized GM traits in the shipments.
6. Wang Zuli, a researcher at the Institute of Agricultural Economics and Development of the Chinese Academy of Agricultural Sciences and a scientist in the Industrial Economics section of the National Swine Industry Technology System, stated that according to monitoring by multiple market institutions, the national average price of live pigs has cumulatively rebounded by more than 1 yuan per kilogram from its previous low, and the industry's losses have somewhat eased.
7. The China Iron and Steel Association held a symposium in Beijing on the economic operation of some steel enterprises in the first quarter. Tang Zujun, a member of the Standing Committee of the Party Committee and Vice President of the China Iron and Steel Association, pointed out that this year's industry operation is characterized by the unchanged situation of strong supply and weak demand, declining exports but maintaining a high scale, low steel prices, higher inventory than the same period last year, continuous adjustment of product structure, and weak profitability in the main steel business.
