"the annual meeting of the SMM metal industry in 2021 is officially launched | under the dual-carbon goal, the interpretation of metal fundamentals and price research policies in 2022 is a brainstorming attack!
SMM Morning Review
Minutes of SMM Steel Morning meeting: spot prices generally increased in many places yesterday, terminal and speculative demand is strong, transaction preference. At this stage, production restrictions will still be stricter, the effect of production reduction will be gradually reflected, the output of building materials continues to remain low, and according to SMM research, there are tight resources, incomplete specifications in many places, traders generally have low inventory and strong sentiment of cherishing sales.
The raw material end maintains the stable operation and the steel price support is strong [minutes of SMM Iron and Steel Morning meeting]
"Click to view the price of SMM steel products
Overnight market
Lael Brainard, the governor of the Federal Reserve, said in a speech to the National Association of Business Economics on Monday that labor market conditions could constitute a reason to reduce the size "soon". Meanwhile, New York Fed President John Williams and Chicago Fed President Charles Evans made similar comments on Monday, echoing the policy guidance issued by the Federal Reserve last week. The dollar rose for a second straight session on Monday, boosted by a rise in U.S. Treasury yields, and a series of comments by Fed officials on Monday are likely to confirm expectations that the buying program will begin to scale back before the end of the year. Investors keep a close eye on the market news and make their next move based on the Fed's information.
Due to the recent domestic power shortage, enterprises in many places have been restricted to stop production. Although it has a certain impact on the metal supply side, it also affects the semi-finished products industry and downstream consumers. Under the continuous fermentation of power cuts, metal prices have fallen one after another. Secondly, the continuous surge hit a new high in Shanghai and tin fell sharply, giving up previous gains to close down 4.35%. China's power cuts reduce demand for refined tin as solder companies and tin chemical producers in parts of China are cutting production.
"Click to view the price of SMM tin products
Domestic Nonferrous Plus fell, Shanghai Copper fell 0.1%, Shanghai Aluminum fell 1.33%, Shanghai Zinc fell 0.67%, Shanghai lead fell 0.21%, Shanghai Nickel fell 1.53%, and Shanghai Tin fell 4.35%. In terms of black, the double focus rose by more than 2%.
"[overnight market] the US dollar rose for the second day in a row, and the metal market fell sharply in Shanghai and tin.
U. S. stocks closed mixed on Monday. The rise in US bond yields has put pressure on large technology stocks. Investors continue to be concerned about the possibility of a federal shutdown. The president of the New York Fed says bond purchases may have to be scaled back soon. The president of the Chicago Fed is expected to raise interest rates for the first time in 2023. The Dow rose 71.37 points, or 0.21%, to 34869.37; the Nasdaq fell 77.73 points, or 0.52%, to 14969.97; and the Standard & Poor's 500 Index fell 12.37 points, or 0.28%, to 4443.11.
As for crude oil, oil prices rose for a fifth straight day on Monday, with Brent crude rising to its highest level since October 2018, approaching $80 a barrel, as investors feared supply was tightened by rising demand in some parts of the world.
In precious metals, COMEX gold futures stabilized in volatile trading on Monday, as the dollar strengthened and Treasury yields rose to limit gains, as investors waited for comments from Federal Reserve / FED policy makers for more clues about the tapering strategy.
Today's macro focus on Germany's October Gfk consumer confidence index, the United States August wholesale inventory monthly rate, the United States July FHFA house price index monthly rate and the United States September Conference Board consumer confidence index and other important data.
"[macro outlook] Today, focus on Germany's October Gfk consumer confidence index.
LME library
Today's focus
[the latest SMM research: what is the impact of the hot search metal industry chain by switching on electricity? Recently, tornadoes with power restrictions and production restrictions have blown to many provinces and cities across the country, chemical, metal and other industries have stopped production, and yesterday's "Northeast Power restriction" was a hot search! Not only the enterprises but also the residents begin to restrict the use of electricity, which has attracted the attention of the whole society. At present, the official level of the government has also urgently held meetings on protecting the supply of thermal coal and keeping warm through the winter to protect the industrial operation, and actively take measures to meet the urgent needs! This article will continue to follow up and report on the impact of local power production restrictions and metal industry chain, in order to keep the market informed of the latest situation. "View details
"Click to view the price of SMM new energy products
[SMM mainstream copper inventory weekly data] as of Monday, September 27th, SMM national mainstream copper market inventory decreased by 11300 tons to 92200 tons compared with last Friday. Inventories fell in all regions of the country this weekend, mainly in Shanghai, which hit a recent low of 8900 to 64200 tons over the weekend. The reason for this situation is that the arrival of domestic copper is limited due to power constraints, and the volume of imported copper has not increased significantly; in addition, downstream consumption can still have the action of replenishment before the festival, and we expect that inventory in Shanghai will still decline before the festival. "View details
"Click to view the price of SMM copper products.
[SMM Analysis] Chinese customs data show that China's aluminum foil exports in August 2021 were 115400 tons, an increase of 19.28% month-on-month and 14.08% over the same period last year. "check the details.
[SMM Analysis: the State Reserve throws down the fourth post-holiday aluminum social bank or maintains the accumulated aluminum bank] Sept. 27, 2021, the State Grain and material Reserve Bureau issued notice No. 2 of 2021, deciding to start releasing the fourth batch of national aluminum reserves in 2021 in the near future. The State Reserve will put 70, 000 tons of aluminum ingots on the market, with a total of 280000 tons sold so far this year. The aluminum ingot will be launched on October 9. "check the details.
[brief Analysis of SMM Analysis of current Alumina Operation] as of today, the SMM regional weighted index is 3733 yuan / ton, up 126 yuan / ton compared with last Friday. Alumina prices are high before they are brushed again, and port transaction prices have risen significantly. The price of alumina in Henan is the highest in inland areas, showing a pattern of linkage between the north and the southwest as a whole. "View details
[SMM analysis: an analysis of aluminum bar processing fees] recently, a number of aluminum bar production enterprises, including downstream aluminum profile enterprises (need to buy aluminum ingots and auxiliary materials to do remelting aluminum bar profile enterprises) have issued price increase letters, the reasons for price increases are more or less the same, all in the form of skyrocketing raw materials and accessories, leading to a substantial increase in the theoretical cost of production, and even the case of cost upside down. Although the price increase of aluminum bar in the picture above is aimed at the downstream long order, we can use the spot data of aluminum bar to see the current profit situation of aluminum bar production enterprises. Now let's focus on the theoretical cost and theoretical profit of aluminum bar spot. "View details
[SMM data domestic electrolytic aluminum social inventory is 29000 tons to 818000 tons compared with the previous week.] on September 27th, SMM counted domestic electrolytic aluminum social inventory of 818000 tons, compared with 29000 tons the previous week. "View details
"Click to view the price of SMM aluminum products
[SMM research: power cuts and losses make supply tighten again before the festival.] SMM9, 27 July: according to SMM research, as of September 27, the total inventory of lead ingots in the five places reached 215900 tons, down nearly 50 tons from last Friday. "View details
"Click to view the price of SMM lead products
SMM analysis: can the zinc price of 23000 yuan / ton stand firm when the fourth zinc ingot is thrown and stored? [SMM, September 27, 2021: on September 27, 2021, according to the No. 2 announcement of the State Grain and material Reserve Bureau of 2021, it was decided to start releasing the fourth batch of national reserves of zinc in 2021 in the near future. The volume of this sell-off is the same as that of the previous two times, both of which are 50, 000 tons, and the total selling volume so far this year is 180000 tons. The sale of zinc ingots in the State Reserve continues. "View details
[SMM data Zinc inventory increase in Shanghai] Sept. 27, according to SMM, as of Monday, the total inventory of SMM zinc ingots in Seven places was 131300 tons, an increase of 2100 tons compared with last Friday. "View details
"Click to view the price of SMM zinc products
[SMM Antimony Industry report: market rumors continue to say that antimony prices will still be strong.] recently, under the background of the state's "double control" policy, the environmental protection situation in Hunan and other places is still grim. The market is expected to have a great impact on the production restrictions of the antimony industry. From the market grapevine, it is simply rumored that after the mayors of certain cities in Hunan have gone to Beijing, The Ministry of Environmental Protection requires at least another month for the next "cooling-off period". Although these cities are still actively striving for the resumption of construction, the situation is still unclear, and it is unlikely to continue to start work. It is even rumored that the production of antimony industry in Hunan province will be shut down until after October. "View details
"Click to view the spot quotation of SMM small Metals.
Important news of metals and industry
[Guangdong issued an implementation plan to curb the blind development of the "two high" projects involving eight industries such as iron and steel, non-ferrous metals, etc.] the plan calls for strict implementation of the requirements of double control of energy consumption and carbon emission control. we will resolutely curb the development of the "two high" projects that do not meet industrial policies and fail to implement energy consumption targets, so as to promote the overall green and low-carbon transformation of the province's economic and social development. The scope of the "two high" projects is tentatively scheduled to be projects in eight industries with annual comprehensive energy consumption of more than 10,000 tons of standard coal, such as coal power, petrochemical, chemical, iron and steel, non-ferrous metals, building materials, coal chemical industry, and coking. Projects in the above-mentioned industries will be included in the project management account of the "two high" projects. If the follow-up state has clear provisions on the scope of the "two high" projects, it shall follow its provisions.
[Ministry of Ecology and Environment: energy saving, consumption reduction and environmental management of Shenyang Mining Company, a subsidiary of China Nonferrous Mining Group] according to the official account of Wechat of the Ministry of Ecology and Environment, in September, China Nonferrous Mining Group Co., Ltd., the inspector of the Central sixth Ecological Environmental Protection Supervision Group, found that the main responsibility of its subsidiary Shenyang Mining Investment Co., Ltd. was not implemented, the problem of high energy consumption was prominent, and the stench of waste gas was serious. Environmental management is not in place. China Gold Group Co., Ltd., inspector of the Seventh Ecological Environmental Protection Supervision Group of the Central Committee, found that its subordinate Hebei Jinchangyu Mining Co., Ltd. in the name of goaf management, long-term illegal open-pit mining, serious ecological damage.
[Minmetals Resources fell more than 6 per cent Peruvian communities continue to block transport] Minmetals Resources (1208.HK) fell 6.2 per cent to HK $3.15, with a temporary turnover of HK $44.45 million, with a total market capitalization of HK $27.2 billion. Minmetals Resources announced early in the morning, in Peru's Chumbivilcas province, Las Bambas200 km away from the community road block, continue to hinder transport. At present, mine production continues, but production has been affected due to the impact of road congestion on employees and supply logistics. Production is expected to have to be interrupted this week.
The company and its wholly-owned subsidiary Jiangsu Changaluminum New Energy Materials Co., Ltd. recently received a request from the competent department of the local government for "energy efficiency double control". The production line of the company's Changshu headquarters production base is temporarily limited, and the production line of Changaluminum new energy production line is temporarily suspended. The company and its wholly-owned subsidiary Jiangsu Changaluminum New Energy Materials Co., Ltd. recently received a request from the competent department of the local government for "energy efficiency double control". At present, it is impossible to determine the exact time of resumption of production and the limited production capacity, and the specific impact on the company's performance can not be accurately predicted.
[Tianyi Ultra net: Tianyi Lithium Industry intends to sign the transfer, inheritance and modification deed and product purchase framework agreement of the lithium concentrate off-take agreement] Tianyi Lithium Industry will sign the "deed of assignment, succession and modification of the off-take agreement" with AVZ, Dathcom and the Tianhua era to supplement the rights and obligations of Tianyi Lithium Industry in transferring the rights and obligations of the original off-take agreement to the Tianyi era, as well as the new rights and obligations of the Tianyi era based on investment. At the same time, Tianyi Lithium Industry will sign a "Product purchase Framework Agreement" with Tianhua era to make an agreement on Tianyi Lithium Industry's purchase of lithium concentrate from Tianhua era.
[Kanglonda: the proposed acquisition company is not currently involved in the production and sale of lithium carbonate products]. Kanglonda issued a stock price change announcement. The company intends to obtain no less than 33.33% equity interest in Pentagon Tiancheng by means of capital increase and transfer this time. According to the current negotiation progress, the proportion of shares to be transferred or increased will not be higher than 51%, and will not acquire the control of Pentagon Tiancheng. The specific way, the amount of transfer and the proportion of transferred shares have not yet been finally determined, and there is a great uncertainty whether it can proceed smoothly. At present, Penwu Tiancheng is not involved in the production and sales of lithium carbonate products. The electronic communication equipment business operated by Yiheng Internet of Sun Company, which is 51% owned by the company, has some abnormal contract execution.
[Tibet mining energy consumption "double control" does not affect the company's expansion project to meet the demand for lithium concentrate. Tibet Mining said that the company's lithium concentrate is in short supply and sales are normal. This year has entered the salt collection period, the current situation, the output of lithium concentrate is confident to reach more than 7000 tons. Xu Shaobing, secretary of the company, said that the recent energy consumption "double control" measures have no impact on the company, the current production capacity of the process is sun salt, basically no electricity, so there is no impact on the existing production. The second phase of the project from the beginning of planning to consider the use of BOO mode supporting the construction of "photovoltaic + photothermal mode" to solve the power consumption problem, this design is very forward-looking, is completely using clean energy to produce lithium carbonate, if the later stage with the further strengthening of the domestic dual control policy, the process should have stronger market competitiveness.
According to the official website of the Ministry of Industry and Information Technology, on September 23, the China Iron and Steel Industry Association and the China Shipbuilding Industry Association jointly organized more than 150 representatives of 13 key shipbuilding enterprises and 15 key shipbuilding steel production enterprises to hold a symposium on supply and demand of shipbuilding steel in Changshu, Jiangsu Province. At this meeting, the China Iron and Steel Industry Association and the China Shipbuilding Industry Association signed the China Shipbuilding Industry Association Memorandum of Cooperation, and 10 pairs of shipbuilding enterprises and iron and steel enterprises signed a long-term procurement agreement on the spot to jointly promote the win-win and long-term stable development of the steel shipbuilding industry chain.
[revision of Warehouse restrictions on Coking Coal and Coke Futures] the big trading house issued a notice a few days ago. after deliberation and approval by the council, the big trading house adjusted the position limit of coking coal and coke futures in the risk Management measures of Dalian Commodity Exchange.
[Citic Securities: it is expected that the pattern of tight supply in the industry will be difficult to be reversed this year. Coal prices as a whole are expected to remain high.] CITIC Securities Research News pointed out that the recent intensive policy landing, the repeated emphasis on increasing supply and supply, increasing the coverage rate of the long-term Association, taking the lead in small price cuts by large coal enterprises, and the implementation of the "energy double control" policy have had a negative impact on short-term market sentiment. However, it will take time for the guarantee and supply policy to be fully effective, and it is expected that the tight supply pattern of the industry will be difficult to reverse this year, and coal prices as a whole are expected to remain high. Q3, Q4 coal prices are more likely to rise than the previous month, the market is still likely to revise the performance expectations of the plate, and the performance-to-price ratio of the plate configuration is still there. After the plate adjustment, we continue to be optimistic about the plate market during the year, recommending the Shanxi control coal industry, open-pit coal industry, Pingping coal shares, etc., which are gradually enlarged in performance flexibility and have potential catalysts in stock prices. at the same time, we can pay attention to Huayang shares and Meijin Energy which have benefited from the transformation of new energy for a long time.
[Jilin Province holds a video scheduling conference on protecting coal supply to keep warm during the winter and industrial operation.] Jilin Province held a video dispatching conference on protecting coal supply to keep warm during the winter and industrial operation. Wu Jingping, member of the standing Committee of the Provincial CPC Committee and executive vice governor, stressed at the meeting that due to the influence of national coal shortage, high coal prices, and coal and electricity prices upside down, there is a shortage of power supply in most provinces. It is necessary to proceed from the overall situation of protecting people's livelihood and heating, and adhere to the "five roads" to increase coal supply. Implement the medium-and long-term coal supply agreement with Mengdong Coal Mine, increase the purchase of imported coal, organize the safe release of production capacity of coal mines in the province, do everything possible to expand the market coal supply, ensure that the reserve of coal is up to the standard, and ensure the continuous supply of electric coal and heating during the heating period. to maintain the normal production and life order of the masses. Wu Jingping stressed that it is necessary to make every effort to protect the basic electricity demand of the people's livelihood, and it is most possible to avoid power cuts. Electroweb company to scientific and accurate dispatching, really need power outages and power cuts, to inform residents in advance to be ready, to guide business units to avoid peak and off-peak power consumption. Power generation enterprises should do everything possible to increase supply, reduce downtime and maintenance, ensure power generation capacity during peak hours, and co-ordinate the peak output of new energy. It is necessary to formulate emergency plans to prevent systematic and regional long-term centralized power outages.
[Jinli permanent Magnet: at present, the company's Ganzhou production base, Baotou and Ningbo projects are not affected by power cuts] Jinli permanent Magnet (300748) said on the interactive platform on September 27th that the company currently has normal production and operation, sufficient orders on hand and full utilization of production capacity. Up to now, the company's Ganzhou production base has not stopped or limited production due to power cuts, and the Baotou and Ningbo projects have not been affected by power cuts, and the project is progressing steadily in accordance with the schedule.
A few days ago, southern rare earths announced the latest listing prices of medium and heavy rare earth oxides, including samarium oxide, holmium oxide, ytterbium oxide, yttrium oxide, scandium oxide, europium oxide, gadolinium oxide and erbium oxide. the average listing price of terbium oxide rose 150000 yuan / ton, dysprosium oxide rose 30, 000 yuan / ton, and lutetium oxide decreased by 75000 yuan / ton.
Yunhai Metal said that in order to further promote the healthy development of the magnesium industry, ensure a stable supply of raw materials in the industry, expand the application of magnesium alloys in the field of deep processing, and further enhance the company's competitiveness and profitability, the people's Government of Wutai County of Shanxi Province supports Nanjing Yunhai Special Metals Co., Ltd. to invest in the construction of a high-performance magnesium-based light alloy and deep processing project with an annual output of 100000 tons in Wutai County. In order to jointly promote the investment construction and preliminary work of the project, after full communication and friendly consultation, all parties have clearly defined their rights and obligations under the principle of "complementary advantages, mutual benefit and win-win, benefit-sharing and common development". Work together to reach a strategic cooperation framework agreement.
[lunchtime announcement: two subordinate companies of Hunan Gold temporarily shut down production due to power cuts], Hunan Gold announced at noon on September 27 that, affected by power cuts, subordinate companies Jindong Mining and Dawan Mining Concentrator temporarily suspended production, and the production capacity of the new Shaochenzhou antimony industry was reduced to 20%. Jiakai City announced that Guangzhou Kailong transferred 3.99% of the company's shares to CITIC Securities at a transfer price of 2.7 yuan per share. Seagull housing notice, Sun holding company signed a demolition compensation agreement, a total compensation of 144 million yuan. According to the announcement of Batian shares, controlling shareholder Huang Peizhao and his concerted actor Huang Linhua transferred 5.13% of the company's shares to Ji Yanzao at a price of 6.0 yuan per share. Binjiang Group announced that it spent 3.229 billion yuan to acquire a number of plots in Zhejiang Province.
Macro focus
The 2021 Sustainable Development Forum, jointly sponsored by the Development Research Center of the State Council of China, the United Nations Department of Economic and Social Affairs, the United Nations Economic and Social Commission for Asia and the Pacific, the United Nations Office for South-South Cooperation and the Beijing Municipal people's Government, opened in Beijing on September 26 with the theme "people-centered sustainable development". Huang Runqiu, minister of the Ministry of Ecology and Environment, said in his keynote speech that he would continue to promote local governments, key industries and enterprises to carry out carbon peak operations, implement a "double control" system for carbon intensity and total carbon emissions, resolutely curb the blind launch of high-energy-consuming and high-emission projects, and promote economic and social development on the basis of green and low carbon.
Commodities: what is the impact of power restriction and production restriction? On August 17, the National Development and Reform Commission issued a barometer on the completion of the target of double control of energy consumption in various regions in the first half of 2021 to analyze and early warning the situation of double control of energy consumption in each province. The energy consumption intensity of nine provinces (regions) rose instead of falling in the first half of the year, which was a first-level early warning, including Jiangsu, Guangdong and other major industrial provinces. After higher-than-expected growth in energy demand this summer, it began to weaken seasonally, and natural gas prices peaked and fell. However, there has been one wave after another, and the expectation that La Nina could cause a cold winter has heightened global concerns about energy shortages this winter.
Commodities: what is the impact of power restriction and production restriction? On August 17, the National Development and Reform Commission issued a barometer on the completion of the target of double control of energy consumption in various regions in the first half of 2021 to analyze and early warning the situation of double control of energy consumption in each province. The energy consumption intensity of nine provinces (regions) rose instead of falling in the first half of the year, which was a first-level early warning, including Jiangsu, Guangdong and other major industrial provinces. After higher-than-expected growth in energy demand this summer, it began to weaken seasonally, and natural gas prices peaked and fell. However, there has been one wave after another, and the expectation that La Nina could cause a cold winter has heightened global concerns about energy shortages this winter.
[Han Zheng held the second China-EU High-level Dialogue on Environment and Climate with European Commission Executive Vice President Timmermans]. Vice Premier Han Zheng of the State Council held the second China-EU High-level Dialogue on Environment and Climate with European Commission Executive Vice President Timmermans by video in Beijing on the 27th. Han Zheng pointed out that China and the EU should make full use of the platform of high-level dialogue, further implement the consensus of the leaders of the two sides, promote the deepening of China-EU green cooperation, and contribute to global sustainable development. It is necessary to strengthen the guidance of the mechanism, enhance understanding and mutual trust, strengthen policy communication and coordination, focus on key areas, deepen practical cooperation, and strive to achieve more fruitful results. It is necessary to practice multilateralism, help implement the Paris Agreement, and inject confidence into global climate cooperation. China is willing to strengthen coordination with all parties, bridge differences, promote consensus, and promote positive results of the 26th Conference of the parties to the United Nations Framework Convention on Climate change. As the host country of the 15th Conference of the parties to the Convention on Biological Diversity, China looks forward to making joint efforts with all parties to promote the success of the Conference.
Terminal information
[Ministry of Commerce: in-depth development of new energy vehicles to the countryside to promote new car consumption] Wang Bin, deputy director of the consumption Promotion Department of the Ministry of Commerce, said that the next step is to speed up the transformation of cars from purchase management to use management, and carry out in-depth development of new energy vehicles to the countryside to promote new car consumption. We will promote the inter-provincial registration of used cars in different places, promote the implementation of the policy of abolishing restrictions on relocation of used cars, and expand the consumption of used cars. We will speed up the improvement of the recycling and disposal system of waste household appliances, encourage the development of trade-in of household appliances and furniture, and promote the consumption of household appliances and furniture. Encourage catering enterprises to enrich and improve dishes, improve the level of service, innovate business models, and boost catering consumption.
[Ministry of Commerce: auto sales are expected to grow this year, reversing three consecutive years of decline.] on September 26, the Ministry of Commerce held a special press conference in the Ministry of Commerce to ensure the supply of the holiday market and promote the release of consumption potential. Wang Bin, deputy director of the Consumer Promotion Department of the Ministry of Commerce, said that from the perspective of development trend, China's automobile market has gradually entered a period of steady development after years of rapid growth and affected by environmental protection, transportation, safety, income and other factors. Comprehensive research and judgment is expected to achieve positive growth in car sales for the whole of this year, reversing the situation of continuous decline for three consecutive years.
[Guangdong Province actively responds to the tight situation of power supply to ensure orderly power supply in the province] since the first ten days of September, under the influence of subtropical high pressure and "Kang Sen" and "Candu" double typhoons, Guangdong Province has sustained high temperature and drought, and the average maximum temperature in the province has reached 34.4 ℃, 2.2 ℃ higher than that in the same period of the year. Under the "barbecue" mode, the electricity demand in Guangdong Province continues to rise. as of September 23, the province's highest load demand reached 141 million kilowatts, an increase of 11 percent over last year's highest load, and the load has reached an all-time high.
Will there be a large-scale power outage in Shanghai from now to October 3? Officially, a post entitled "notice of Shanghai's planned power outage from September 27 to October 3" has been circulated through social networks in the past two days. According to the post, power outages will be planned in several areas of Shanghai, involving both residential and commercial electricity. Many netizens are worried about whether the blackout is similar to the power cut in some cities. Learned from the national Electroweb Shanghai company, the network blackout notice is a normal announcement of planned power outage, there is no need to overinterpret it. Planned blackout refers to the power outage carried out in a specific area within a specific period of time due to the needs of planned maintenance of equipment, transformation of distribution network, frontline transformation of residential table, connection of new customers to the grid, cooperation with other aspects of work, and so on.
[Lin Yang Energy: signed a cooperation agreement with Huaneng Jiangsu to develop large photovoltaic power stations], Lin Yang Energy announced, signed an investment cooperation framework agreement with Huaneng Jiangsu, set up a joint venture platform company, and developed large photovoltaic power stations in Huaneng Jiangsu's key distribution areas. The company agrees to accumulate and develop not less than 2 million kilowatts of photovoltaic power stations in Jiangsu Province (including but not limited to the photovoltaic power stations developed in Sihong and Qidong County) and Anhui Province. The two sides agreed to set up a joint venture in Qidong to build an 80 megawatt / 160 megawatt-hour energy storage sharing power station in Qidong.
[global wafer response to Kunshan plant temporary shutdown due to power limitation: other plant support], semiconductor silicon wafer global wafer Kunshan factory temporarily suspended work until September 30 in line with Suzhou power restriction policy. Will coordinate other factories of the group to support and assist in production and delivery matters. Global Wafer said it received a power outage notice from the local government on the 26th, and the Kunshan plant, in line with Suzhou's power restriction policy, temporarily reduced its output, and is now expected to stop work until September 30.
