[World Data Organization Established in Beijing] On March 30, the World Data Organization (WDO) was established in Beijing. This organization is a professional, non-governmental, and non-profit international body specializing in the global data field. With the mission of "bridging the data gap, unlocking the value of data, and fostering the digital economy," it will promote global data cooperation and governance, facilitate the compliant and secure flow of data, and support the development of the global digital economy.

Spot platinum has just broken through the $1930.00/oz mark, currently trading at $1929.89/oz, up 3.77% on the day; Nymex platinum futures are currently trading at $1928.4/oz, up 2.19% on the day.

[Lithium Carbonate Prices Continue to Rise Under the Logic of Energy Substitution] ⑴ On March 30th, the escalating conflict between the US, Israel, and Iran, and the rising geopolitical tensions strengthened the logic of energy substitution, leading to a daily increase of over 5% in lithium carbonate prices, closing at 171,620 yuan/ton. ⑵ Key driving factors include: supply disruptions in Zimbabwe, with lithium concentrate exports suspended since late February, impacting domestic supply in late April and potentially leading to shortages in May; concerns about Australian production, with diesel shortages potentially impacting Australian lithium mine production, which accounts for over 30% of global supply; and strong support from ore prices, with the continued rise in lithium ore prices reflecting both the reality and expectations of tight supply. ⑶ If supply risks persist, lithium ore prices may continue to strengthen, supporting lithium prices, accelerating lithium carbonate destocking, and potentially exacerbating supply shortages through hoarding. While there may be a short-term divergence between current and futures prices, the upward trend in the medium- to long-term price center remains unchanged, with the strengthening energy transition narrative supporting continued price increases.