Indonesia has postponed the planned April 1 implementation of windfall taxes on coal and nickel exports, as authorities continue to review the technical details, according to Energy and Mining Minister Bahlil Lahadalia.

【SMM Port Inventory of Imported Bauxite】According to SMM's statistics on April 3, the total bauxite inventory at ten domestic ports increased by 2.17 million mt from the previous week.

[The purchase price of caustic soda from the mainstream alumina factory in Guangxi] SMM informed that the purchase price of 50% ion membrane liquid alkali standing order of the mainstream alumina factory in Guangxi increased by 450 yuan/ton in April compared to March. And the delivery-to-factory price was 3,500 yuan/ton (price adjusted on a 100% concentration basis).

On April 2, the Ministry of Industry and Trade issued Decision No. 612/QD-BCT, imposing a temporary anti-circumvention tariff of up to 27.83% on certain hot-rolled steel products from China. The measure applies to specific flat-rolled steel products (alloy or non-alloy), with thicknesses of 1.2–25.4mm and widths between 1,880mm and 2,300mm, that have not been further processed beyond hot rolling.

Supply glut, cautious demand, and fading cost support drag the benchmark contract down RMB 205/mt in the week of March 30 – April

This week, ferrous metals were in the doldrums. The main logic during the week remained weakening cost support. On Tuesday, Iran proposed charging transit fees for the Strait of Hormuz, while Trump made conciliatory remarks, saying that “even if the Strait of Hormuz remained largely closed, he would still be willing to end military action against Iran.” Market expectations for tighter crude oil supply weakened, and declines in the energy sector dragged down the coal sector, weakening the cost-side logic. During the week, inventories of the five major steel products continued to decline, but apparent demand remained at a low level for the same period in previous years, providing limited fundamental-driven momentum to futures. In the spot market, purchasing interest was average, mainly focused on restocking at low prices. Spot prices were relatively firm, and the spot-futures price spread widened somewhat......