1. According to foreign media reports, the Indonesian president stated during his official visit to Japan on Monday that Indonesia will formally implement its B50 biodiesel blending policy plan this year.
2. The State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the People's Republic of China." The notice calls for comprehensive rectification of "involutionary" competition. It emphasizes the comprehensive use of various anti-unfair competition measures to prevent and control "involutionary" competition in key industries and sectors such as the platform economy, photovoltaics, lithium batteries, and new energy vehicles.
3. According to SMM, on March 29, the EGA aluminum plant in the UAE was attacked by Iranian missiles and drones, resulting in severe damage to its facilities. A damage assessment has been initiated, and large-scale production cuts are expected, affecting a total capacity of approximately 1.53 million tons. Combined with the production cuts initiated earlier this month by Alba Aluminium and Qatalum Aluminium, the three aluminum plants will have a combined production reduction of approximately 2.63 million tons. 4. According to Mysteel, ferrosilicon manganese plants are gradually reducing production as planned. Most plants indicated they would reduce output by about 30% starting April 1st. The total monthly voluntary emission reduction of manganese alloy enterprises nationwide is estimated at 221,000 tons, which is expected to alleviate short-term supply pressure.
5. According to Xinhua News Agency, hog prices have continued to fall recently, with prices in many areas reaching recent lows. The central government has recently begun purchasing frozen pork for reserves and has instructed local governments to simultaneously increase their purchasing efforts. The next step is to closely monitor market dynamics, strengthen the regulation of hog production capacity, ensure local government responsibility, supervise relevant enterprises to fulfill their capacity reduction commitments, promote a better match between supply and demand, and stabilize hog prices. The industry must maintain its focus and follow market rules.
6. According to data released by the Malaysian Palm Oil Association (MPOA), Malaysian palm oil production is estimated to have increased by 0.92% from March 1st to 20th, with a 3.61% decrease in Peninsular Malaysia, a 5.59% increase in Sabah, a 9.87% increase in Sarawak, and a 6.67% increase in East Malaysia. 7. Indonesian Energy and Mineral Resources Minister Bahlil Lahadalia announced plans to raise the domestic benchmark price (HPM) for nickel ore following a meeting with President Prabowo Subianto. This move aims to increase national revenue from the mining sector and ensure fairer access to national resources.
