Latest information on bulk raw materials

Macro1. The Mexican government has officially announced that temporary tariff measures will be included in the General Import and Export Tax Law, imposing import tariffs on goods from countries that have not signed free trade agreements with them, involving 1463 commodity tax numbers, with a maximum tax rate of 50%. China, as an important source of imports for Mexico, has been included in the key adjustment scope, with tariffs raised to 35% -45%.

2. The United States will launch two new trade investigations into the "excess industrial capacity" of 16 major trading partners, including China. According to officials from the Office of the United States Trade Representative, this could lead to new tariffs.

3. The number of initial jobless claims in the United States decreased slightly by 1000 to 213000 last week, slightly lower than market expectations.

Energy

1. On March 12th, international crude oil futures rose sharply. The settlement price of the April WTI crude oil futures contract in the United States was $95.70 per barrel, an increase of $8.48 or 9.7%. The settlement price of Brent crude oil futures for May was $100.46 per barrel, an increase of $8.48 or 9.2%.

2. On March 12th, Equinor, the Norwegian national oil company, is preparing to launch drilling operations at the Rosebank oil field in the western Shetland Islands, marking a key milestone in one of the largest undeveloped oil and gas projects on the British continental shelf.

3. On March 12th, French oil giant TotalEnergies announced on its investor website that due to the conflict between the United States, Israel, and Iran, oil and gas fields in many parts of the Middle East, including the United Arab Emirates, Qatar, and Iraq, have been shut down. The company's oil and gas production has decreased by 15%.