Macroeconomics

1. [Electricity Consumption] National Energy Administration: In March, total electricity consumption across society reached 859.5 billion kWh, a year-on-year increase of 3.5%. Electricity consumption in the primary industry stood at 11.3 billion kWh, up 6.7% year-on-year. Consumption in the secondary industry reached 570.8 billion kWh, up 2.0% year-on-year. Consumption in the tertiary industry reached 160.1 billion kWh, up 7.7% year-on-year.

2. [Excavators] According to the latest data from the National Bureau of Statistics, my country's excavator production in March totaled 48,427 units, a year-on-year increase of 26.5%. For the first quarter, my country's cumulative excavator production reached 112,107 units, up 22.8% year-on-year.

Energy

1. [Crude Oil] On April 20, international crude oil futures rose sharply. The settlement price for the June contract of U.S. WTI crude oil futures closed at $87.42 per barrel, an increase of $4.83 (or 5.8%). The settlement price for the June contract of Brent crude oil futures closed at $95.48 per barrel, an increase of $5.10 (or 5.6%).

2. [Crude Oil] On April 20, preliminary surveys indicated that U.S. crude oil inventories were expected to decline last week, with distillate and gasoline inventories also projected to decrease. The average estimate from five analysts surveyed suggested that for the week ending April 17, U.S. crude oil inventories fell by approximately 1.8 million barrels. Gasoline inventories were estimated to have dropped by about 1.3 million barrels last week, while distillate inventories—including diesel and heating oil—were expected to have decreased by approximately 2.5 million barrels.

3. [Crude Oil] On April 20, monthly data from the North Dakota Industrial Commission showed that the state's oil production in February increased by 4,000 barrels per day compared to January, rising to 1.13 million barrels per day. Of this total, production from the Bakken and Three Forks regions amounted to 1.101 million barrels per day.

4. [Crude Oil] On April 20, data from the commodity analytics provider Kpler indicated that for the week beginning April 13, the average daily crude oil loading volume at Yanbu—a Saudi Red Sea port—stood at approximately 3.5 million barrels. This represents a 17% decline from the previous week and marks the lowest level recorded since the second week of March.

5. [Petroleum Coke] On April 20, Yaton Petrochemical quoted its petroleum coke price at 2,000 RMB/ton, an increase of 150 RMB/ton compared to the previous trading day. The product features a sulfur content of 4.7%; the facility utilizes a delayed coking unit with an annual capacity of 1.2 million tons and maintains a daily output of 850 tons.

6. [Coking Coal] On April 20, a major coal enterprise in Qipanjing, Inner Mongolia, held an auction for washed coking coal. The starting price for high-ash, low-sulfur fat coal (A12S0.8) was set at 1,130 RMB/ton, with the actual成交价 settling at 1,180 RMB/ton—an increase of 30 RMB/ton over the transaction price recorded in the previous auction on the 15th.

7. [Coal] In March 2026, China's imports of "other coal" amounted to 1.5535 million tons, representing a month-on-month increase of 19.34% but a year-on-year decrease of 13.67%. For the January-to-March period, China's cumulative imports of "other coal" totaled 5.4535 million tons—a year-on-year decline of 12.49%—with a total cumulative import value of US$371 million, down 14.81% year-on-year.

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