Federal Reserve Chairman Jerome Powell: Overall, research tends to suggest that purchasing long-term assets would lower interest rates and support the economy.

KWEICHOW MOUTAI SAYS TO INCREASE DIRECT RETAIL PRICE OF FEITIAN 53% VOL 500ML MOUTAI (2026) TO 1,539 YUAN FROM 1,499 YUAN

1. The Shanghai International Energy Exchange (INE) announced that, with the approval of the China Securities Regulatory Commission (CSRC), starting April 22, 2026 (continuous trading session on the evening of April 21), the INE will further expand the range of tradable products for Qualified Foreign Institutional Investors (QFIIs) and Renminbi Qualified Foreign Institutional Investors (RQFIIs), adding TSR20 rubber and international copper options contracts. 2. Data from the International Aluminium Institute (IAI) shows that global alumina production in February 2026 was 11.816 million tons, compared to 11.756 million tons in the same period last year, an increase of 0.51% year-on-year; the previous month's production was 13.154 million tons, a decrease of 10.17% month-on-month. 3. According to foreign media reports, Indonesian Energy and Mining Minister Bahlil Lahadalia stated on Friday that Indonesia will postpone its plan to impose a windfall profits tax on coal and nickel exports, originally scheduled for April 1. 4. Major steel mills in Tangshan plan to raise prices by 50 yuan/ton for wet-quenched coke and 55 yuan/ton for dry-quenched coke; some steel mills in Xingtai also plan to raise prices by 50 yuan/ton for wet-quenched coke and 55 yuan/ton for dry-quenched coke. All prices will take effect at midnight on April 1, 2026. 5. According to the Ningxia Autonomous Region Development and Reform Commission, as of March 25, the pig-to-grain price ratio in the region was 4.08:1, entering the first-level warning range for excessive decline (below 5:1) set by the "Autonomous Region Pork Market Supply and Price Stabilization Work Plan". Next, the region will initiate temporary pork reserve purchases and storage. It is recommended that farms (households) make scientific production and operation decisions to maintain pig production capacity at a reasonable level. 6. The U.S. Department of Agriculture (USDA) released data showing that private exporters reported sales of 105,000 tons of soybeans to unknown destinations for delivery in the 2025/2026 marketing year. The U.S. soybean marketing year begins on September 1.