实现新纳入企业培训全覆盖 针对部分机动车排放检验机构弄虚作假等突出问题，裴晓菲介绍，机动车尾气是大气污染的重要来源， 据测算，机动车排放的氮氧化物占全国氮氧化物排放总量的34%，加强机动车污染防治，已经成为改善 大气环境质量的重要举措和必然要求。机动车排放检验机构是机动车环保达标监管的重要环节，这些机 构一旦弄虚作假、故意"放水"，将会导致超标车辆上路行驶，造成环境污染。 裴晓菲说，近年来，部分机动车排放检验机构为追求经济利益，通过篡改数据、伪造报告等手段弄虚作 假，严重破坏市场秩序，严重影响空气质量改善。去年9月起，生态环境部会同最高法、最高检、公安 部、交通运输部、市场监管总局，在全国范围内开展了机动车排放检验领域第三方机构专项整治行动， 依法严肃查处了一批出具虚假报告、进行虚假维修的机构。 ●本报记者刘杨 裴晓菲介绍，为统筹做好2025年全国碳排放权交易市场管理工作，保障市场健康有序运行，生态环境部 近日印发《关于做好2025年全国碳排放权交易市场有关工作的通知》，这是全国碳排放权交易市场扩围 后首次印发相关重点工作通知，对发电、钢铁、水泥、铝冶炼行业的重点排放单位名录管理、碳排放数 据质量管理、碳排放 ...

生态环境部。摄影/章轲 "违反全国碳排放权交易市场和全国温室气体自愿减排交易市场有关法律、法规、规章的重大案件"被列 入挂牌督办中。 有明确的违法主体、生态环境违法事实清楚的八类生态环境违法案件将被挂牌督办，以加大对生态环境 违法案件的查处力度，集中解决突出的生态破坏和环境污染问题，保障群众生态环境权益。 生态环境部印发的《生态环境违法案件挂牌督办管理办法》（下称《管理办法》）近日公布。 生态环境违法案件挂牌督办是指生态环境部对违反生态环境保护法律、法规、规章，严重污染环境、破 坏生态、造成重大社会影响或产生严重后果的生态环境违法案件办理提出明确要求，公开督促省级生态 环境部门办理，并向社会公开办理结果，接受公众监督的一种行政手段。 《管理办法》明确，经核实，有明确的违法主体，生态环境违法事实清楚的八类生态环境违法案件，可 以挂牌督办，包括：公众反映强烈、影响社会稳定的环境污染或生态破坏案件；造成重点流域、区域、 海域重大污染、生态破坏，或环境质量明显恶化的环境违法案件；威胁公众健康或生态环境安全的重大 环境安全隐患案件； 以及长期不解决或屡查屡犯的生态环境违法案件；违反建设项目生态环境法律、法规的重大生态环 ...

党的二十届三中全会提出，深化生态文明体制改革，健全绿色低碳发展机制，积极稳妥推进碳达峰碳中 和。为此我国稳步完善碳市场交易制度，加快构建全国碳排放权交易市场。截至2024年，全国碳排放权 交易市场涵盖发电行业重点排放单位2257家，年覆盖二氧化碳排放量约51亿吨，占全国总量比重约 40%。 加强多政策有机融合，推进电碳市场协同建设。以碳排放权交易体系为主体，综合可再生能源消纳责任 权重、绿色电力消费比例、中国核证自愿减排量（CCER）等政策机制，形成政策组合合力，推动电碳 市场协同建设。推动碳排放权、绿电、绿证、CCER等环境权益的市场联通与价格联动，拓展企业环境 权益获取渠道，完善碳定价机制，实现碳、电、绿证价格联动传导，形成"生产过程低碳化+能源消费 清洁化"的双轮驱动减排模式。 （作者单位：华北电力大学） 细化碳配额分配方案，确保配额政策分阶段平稳有序过渡。《方案》结合国家温室气体排放控制目标， 基于强度控制的思路分阶段制定钢铁、水泥、铝冶炼企业的碳排放配额总量和分配方案。将2024年度的 配额量设置为经核查的实际排放量，企业无需支付履约成本；基于碳排放强度确定2025年度和2026年度 配额量，将企业 ...

2025 年 4 月 28 日 关税缓解 铝价震荡回升 核心观点及策略 投资咨询业务资格 沪证监许可【2015】84 号 李婷 敬请参阅最后一页免责声明 1 / 7 铝周报 ⚫ 上周贸易战传缓和风险情绪释放。海外经济数据好 坏参半，欧美制造业PMI强于预期，但世界货币基 金组织下调全球经济增速，未来全球需求忧虑仍 存。国内政治局会议召开，会议要求强化底线思维， 备足预案，"稳就业"成为首要任务。预计二季度 将加快落实相关政策。基本面，供应端电解铝产能 大稳小动，仍以山东至云南的置换产能为主。消费 端，下游加工企业开工分化，线缆及工业型材板块 保持增速，铝合金及板带板块稳定，贸易摩擦下后 续铝箔板块或受影响下行。不过临近五一小长假， 下游备货意愿稍强，接货较好。上周铝锭社会库存 电解铝锭库存65.8万吨，较周四减少3.1万吨；国 内主流消费地铝棒库存17.78万吨，较上周四减少 3.14万吨万吨。 ⚫ 综上，市场消化关税缓和消息及过内政策利好，将 推动市场部分逢低买盘。不过还需看到美国的明确 关税新高与之相互矛盾，且经济数据好坏参半，全 球需求担忧仍存。基本面供应稳定，消费旺季尾声， 需求尚有韧性，本周正值五一 ...

在"双碳"目标的战略指引下，全国碳排放权交易市场（以下简称全国碳市场）作为推动绿色低碳发展的 核心政策工具，正迎来新一轮扩容。2025年3月，生态环境部正式印发《全国碳排放权交易市场覆盖钢 铁、水泥、铝冶炼行业工作方案》（以下简称《方案》），明确将钢铁、水泥、铝冶炼三大重点行业纳 入全国碳市场，覆盖温室气体排放量新增约30亿吨二氧化碳当量，占全国总量的比例从45%跃升至60% 以上。 此次扩容标志着我国碳市场建设从"单一行业试点"迈向"多行业协同治理"、从"夯基垒台"迈向"提质增 效"新阶段。同时，这也对全国碳市场机制的完善性、数据质量的可靠性、行业差异的包容性提出了更 高要求，既需要破除数据壁垒、优化制度设计，更需要激发市场活力、培育创新生态，以坚持"稳中求 进"的总基调，统筹发展与减排、整体与局部、短期与长期的关系，以真正发挥碳市场对绿色低碳发展 的战略支撑作用，为全球气候治理贡献中国智慧与中国方案。 选择钢铁、水泥、铝冶炼行业扩容势在必行 行业特性决定减排必要性。钢铁、水泥、铝冶炼是典型的高耗能、高排放行业，其碳排放强度显著高于 其他制造业领域。以钢铁行业为例，生产1吨粗钢平均排放约1.8吨二氧化碳（C ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints The report comprehensively presents the overnight market trends of domestic and international commodities, futures, and stocks, along with important macro - level news and policy updates. It also includes data on various industries such as energy, metals, agriculture, finance, real estate, and international economic indicators, reflecting the complex and dynamic nature of the global economic and financial markets. 3. Summary by Directory Overnight Market Trends - Domestic commodity futures night - session closed generally higher, with most energy and chemical products rising, but some like crude oil falling. Black - series all rose, agricultural products mostly rose, and basic metals had mixed performance. For example, soda ash rose 1.33%, and coke rose 1.82% [2][62]. - International oil prices weakened, with concerns about OPEC+ increasing production and global economic uncertainty. The US crude oil main contract fell 2.18%, and Brent crude oil main contract fell 1.97% [2]. - International precious metal futures closed with mixed results. COMEX gold futures fell 3.45%, and COMEX silver futures rose 2.01% [3]. - CBOT agricultural product futures main contracts mostly fell, except for soybeans which rose 0.53% [3]. - London basic metals mostly rose, with LME aluminum rising 2.22% [3]. Important News - **Macro News** - The Ministry of Ecology and Environment will strengthen the carbon - emission trading market, ensuring new - entrant training and cracking down on data fraud [7]. - The Chinese Foreign Ministry emphasized the need for the US to stop threats and engage in equal - footing dialogue [7]. - The US Middle - East envoy will visit Russia for Ukraine - related talks [7]. - Trump stated he had no plan to fire Fed Chairman Powell [7]. - The US Treasury Secretary reaffirmed the strong - dollar policy and called for international financial system re - balancing [8]. - US April PMI data showed mixed trends, with service PMI at a 2 - month low and manufacturing PMI at a 2 - month high [8]. - The Fed's Beige Book indicated economic uncertainty due to tariffs [12]. - Trump criticized Zelensky's remarks on Crimea as harmful to peace talks [13]. - Congo (Kinshasa) and the rebel group "M23 Movement" expressed hope for a cease - fire [14]. - **Energy and Chemical Futures** - UAE's Fujairah port's refined - oil inventory decreased to a four - week low, with different trends for light, medium, and heavy fractions [16]. - China's methanol port inventory decreased, with both East and South China regions de - stocking [16]. - Japan's commercial crude - oil inventory decreased, while gasoline inventory increased [16]. - Some OPEC+ members may propose accelerating oil production in June [19]. - US EIA data showed a decrease in crude - oil exports and production, and an increase in commercial inventory [19]. - Kazakhstan may prioritize national interests over OPEC+ in oil - production decisions [19]. - **Metal Futures** - The Shanghai Gold Exchange adjusted margin levels and price - limit ranges for gold and silver contracts [21]. - Peru's Antamina copper mine had an accident, leading to a full - scale shutdown for safety and investigation [21]. - The passenger - car market in China showed growth in April 1 - 20 sales compared to last year but a decline compared to last month [21]. - The Shanghai Futures Exchange adjusted the trading fees for the AU2506 gold - futures contract [24]. - **Black - series Futures** - In March 2025, global crude - steel production increased by 2.9% year - on - year, with China, India, and the US showing different trends [26]. - In mid - April, the social inventory of 5 major steel products in 21 cities decreased by 5.6% month - on - month [26]. - **Agricultural Product Futures** - India's palm - oil imports are expected to increase from May to September [28]. - Corn - starch enterprise inventory increased slightly, with a 0.29% weekly increase [28]. - China's pig prices rose 0.7% in the third week of April after 10 weeks of decline [28]. - Argentina's soybean harvest may accelerate due to dry conditions, with an expected yield of 4860 tons [31]. - Brazil's April soybean export forecast was adjusted down to 1430 tons, while the soybean - meal export forecast remained unchanged [32]. - The expected US soybean export net sales for 2024/25 and 2025/26 were estimated [33]. Financial Market - **Finance** - By the end of Q1, 162 public - fund institutions managed a total of 31.05 trillion yuan, with the top 10 fund companies named. The number of active - equity fund managers with over 100 million yuan in management decreased [35]. - In Q1 2024, public funds had a profit of 2528.54 billion yuan, a more than 10 - fold increase year - on - year [35]. - Shandong Feiyin Payment Information Technology Co., Ltd. cancelled its payment license, and the number of licensed payment institutions decreased to 170 [35]. - **Real Estate** - Xiamen optimized its housing - expropriation compensation policy, allowing house - tickets for second - hand housing and offering a 5% bonus for new - house purchases within 6 months [38]. - Qingdao released its 2025 housing - development plan, covering multiple aspects such as housing supply and renovation [38]. - Zhengzhou proposed to adjust the upper - age limit for housing - provident - fund loans [38]. - **Industry** - In Q1, domestic tourism had a 26.4% increase in trips and an 18.6% increase in spending [39]. - The National Robotics Standardization Technical Committee and the International Starlink Alliance signed a cooperation agreement for robot standardization [39]. - India imposed a 5 - year anti - dumping tax on Chinese aniline [40]. - **Overseas** - The Fed's Beige Book showed little economic change but high trade - policy uncertainty [41]. - The US President may exempt some tariffs for automakers and steel and aluminum [44]. - The US State Department will implement a restructuring plan, cutting 15% of domestic staff and closing 132 offices [44]. - In February, EU exports to the US increased by 22.4%, and imports from the US increased by 2.4% [44]. - The IMF predicted that tariff hikes would increase global public - debt - to - GDP ratio [44]. - April PMI data for various countries showed different economic trends, with India having high - growth PMIs [45]. - **International Stock Market** - Chinese concept stocks generally rose, with the Nasdaq Golden Dragon China Index rising 2.93% [52]. - Apple and Meta were fined 500 million euros and 200 million euros respectively by the EU [53]. - Musk will focus more on Tesla in May [54]. - Intel may cut over 20% of its staff and participated in the Shanghai Auto Show [57]. - Many companies released their financial reports, with different profit and revenue performances [57]. - **Commodities** - Similar to the overnight market trends, domestic commodity futures had mixed results, and there were policy and event updates such as copper - mine accidents and OPEC+ production - increase discussions [62]. - **Bonds** - Treasury - bond futures fell, and bond yields generally rose. The inter - bank market had loose funds [72]. - Some bonds will be fully redeemed, and some companies had negative credit events [72]. - **Foreign Exchange** - The on - shore RMB against the US dollar rose 190 basis points at 16:30 on Wednesday, and the central parity rate was depreciated by 42 basis points [73].