Energy:
1. The EU launched the second round of mid-term meetings to coordinate natural gas purchases.
2. Kazakhstan Ministry of Energy: Necessary measures have been taken to compensate for the temporary increase in production.
3. Azerbaijan Ministry of Energy: Azerbaijan's oil production in January and February was 4.5 million tons, and a total of 3.7 million tons of oil were exported in two months.
4. The Trump administration intends to overturn the emission restrictions on coal-fired power plants and automobile emission regulations during the Biden era.
5. White House Press Secretary Levitt: It is uncertain whether Trump has extended the expired Russian oil exemption.
6. OPEC maintains its forecast for global crude oil demand growth this year and next year. In February, OPEC+ crude oil production averaged 41.01 million barrels/day, an increase of 363,000 barrels/day from January, with Kazakhstan's largest increase.
7. According to Reuters calculations: Russia's seaborne refined oil exports fell 7.5% month-on-month in February. The price of Russian Urals crude oil fell to $60/barrel, below the Western price ceiling.
8. The gas transmission operator said Ukraine is considering importing at least 4 billion cubic meters of natural gas for its reserves from April to October. LNG may account for about half of the imports.
Precious metals and mining:
1. Domestic gold jewelry prices stand at 890 yuan/gram.
2. Sources: India is negotiating with Congo to discuss a preliminary agreement to purchase copper and cobalt.
3. Citi: Revised the target price of copper in 0-3 months to US$10,000/ton (previously expected to be US$8,500/ton, excluding the United States).
4. Vale: The company's nickel ore production in 2024 will be 15.2 million tons, nickel matte production in 2024 will be 71,311 tons, and nickel matte sales in 2024 will be 72,625 tons.
US trade policy:
1. US oil industry executives will meet with Trump next week to discuss tariffs, trade and liquefied natural gas exports.
2. US Commerce Secretary: Copper (imports) will be added to the list of tariffs. If other countries lower tariffs, we will also lower tariffs.
3.
Canadian Finance Minister: From March 13, a 25% retaliatory tariff will be imposed on US goods worth 29.8 billion Canadian dollars, including steel products worth 12.6 billion Canadian dollars, aluminum products worth 3 billion Canadian dollars, and other US goods worth 14.2 billion US dollars.
4. Canadian Finance Minister: Canadian ministers will visit the United States this week and hold talks with Trump to seek tariff reductions.
5. German Economic Ministry spokesman: Severely criticized US tariffs, but not unprepared for this. Do not want to fight with the United States (on tariffs) and support clear trade rules. Prime Minister Scholz: Disagree with the current tariff policy.
6. South Korea will formulate measures to deal with US steel tariffs this month.
7. The Mexican president refused to respond to the US metal tariffs and will wait for the April 2 deadline.
8. Brazilian Finance Minister: The steel industry requires the government to take measures on exports and imports; no immediate retaliatory measures will be taken against the US steel tariffs.
Others:
1. Hong Kong suspends imports of poultry and poultry products from parts of the United States.
2. Panamanian authorities said that due to the expansion of shipping capacity, the cost of passing through the Panama Canal this year is 15% lower than last year.
3. World Trade Organization: The commodity trade barometer will not change much in early 2025, but uncertainty in trade policy remains.
