Report Industry Investment Rating - Not provided in the given content Core Viewpoints of the Report - The US has submitted a 15 - point cease - fire plan to Iran, focusing on issues such as Iran's nuclear program, missile capabilities, and opening the Strait of Hormuz, with the condition of lifting sanctions. President Trump has postponed the strike on Iranian energy facilities until April 6, and the US envoy may have arrived in Islamabad for a potential US - Iran talk [3]. - Using economic leverage to end the conflict is logical for the US as high oil prices affect US inflation and financial markets. However, economic leverage may not work as Iran's oil export revenue has increased in March [3]. - The US's preference is to use economic leverage and promote talks, but there are still doubts about forcibly seizing islands and escorting. Whether the Islamabad talks can be held next week may determine if the conflict escalates [3]. - This week (the week of March 28), Brent and WTI crude oil futures prices decreased by 0.87% and 3.22% respectively on average week - on - week. LME copper spot price decreased by 2.80% on average week - on - week, and the copper - gold ratio increased by 4.27%. Aluminum spot price decreased by 2.28% on average week - on - week [3]. - This week, the average wholesale price of pork decreased by 1.77% week - on - week and 24.08% year - on - year; the average wholesale price of 28 key monitored vegetables decreased by 0.86% week - on - week and increased by 0.29% year - on - year. On the week of March 20, the edible agricultural product price index decreased by 0.30% week - on - week and increased by 1.91% year - on - year [3]. - The domestic cement price index increased by 0.27% week - on - week; the operating rate of coking enterprises with a capacity of over 2 million tons increased by 1.01% week - on - week; the rebar inventory index decreased by 1.60% week - on - week; the rebar price index increased by 0.16% week - on - week; the blast furnace operating rate of 247 domestic steel mills increased by 1.57% week - on - week. On the week of March 20, the production material price index decreased by 0.10% week - on - week and increased by 5.00% year - on - year [3]. - From March 1 - 25 this year, the average daily trading area of commercial housing in 30 large and medium - sized cities tracked by Wind was about 229,000 square meters per day, while in March 2025, it was about 288,000 square meters per day [3]. Summary by Directory High - frequency Data Panoramic Scan - The report provides detailed week - on - week and year - on - year data of various high - frequency indicators, including food, other consumer goods, bulk commodities, energy, non - ferrous metals, ferrous metals, real estate, shipping, etc. For example, the average wholesale price of pork decreased by 1.77% week - on - week, and the RJ/CRB commodity price index decreased by 1.02% week - on - week [19]. High - frequency Data and Important Macro - indicator Trend Comparison - Multiple charts show the relationship between high - frequency data and important macro - indicators, such as the relationship between the RJ/CRB price index year - on - year and export amount year - on - year, and the relationship between the production material price index year - on - year and PPI industrial year - on - year [24]. Important High - frequency Indicators in the US, Europe, and Japan - Charts show indicators such as the US weekly economic indicators and actual economic growth rate, the US initial jobless claims and unemployment rate, and the implied interest - rate hike or cut prospects of the US Federal Reserve, the Bank of Japan, and the European Central Bank [91]. Seasonal Trends of High - frequency Data - The seasonal trends of high - frequency data are presented, including the seasonal trends of indicators such as the daily average output of crude steel, production material price index, and 30 - city commercial housing trading area [105]. High - frequency Traffic Data in Beijing, Shanghai, Guangzhou, and Shenzhen - The year - on - year changes in subway passenger volume in Beijing, Shanghai, Guangzhou, and Shenzhen are shown [150].

Core Viewpoint - The article discusses the recent tensions between the U.S. and China following a meeting in South Korea, highlighting China's willingness to make concessions while the U.S. responds with threats, indicating a lack of understanding and respect for diplomatic relations [1][3][4]. Group 1: U.S.-China Relations - The U.S. Treasury Secretary's threats against China after receiving concessions reflect a short-sighted tactical approach, undermining the potential for cooperation [3][4]. - The U.S. has labeled China as an "unreliable partner," revealing its own insecurities and lack of confidence in the negotiation process [3][6]. - The U.S. approach of issuing threats while receiving concessions creates discomfort and raises questions about China's commitment to fulfilling agreements [4][6]. Group 2: Economic Leverage - Traditional economic leverage, such as tariffs, is losing effectiveness as China's export markets diversify and U.S. industries become increasingly reliant on Chinese materials [6][9]. - The lack of a clear framework for what constitutes "fulfilling commitments" complicates trust-building and adds uncertainty to the execution of agreements [7][12]. - The U.S. dollar's dominance is facing challenges due to domestic economic pressures and a global trend towards "de-dollarization," with increasing use of the Chinese yuan [9][10]. Group 3: Technological and Financial Tools - U.S. attempts to block Chinese access to advanced technologies have inadvertently strengthened China's domestic industries, showcasing resilience and self-sufficiency [10][11]. - The U.S. has employed all available leverage tools against China's rare earth policies, indicating a shift in the balance of power in the ongoing competition [11][12]. Group 4: Historical Context and Future Outlook - China's consistent record of fulfilling commitments since joining the WTO contrasts with the U.S.'s recent history of withdrawing from agreements, highlighting a credibility gap [12][13]. - The article suggests that future negotiations will depend more on stability and trust rather than coercive tactics, emphasizing the need for a balanced approach to achieve mutual understanding [13].