[summary of SMM Iron and Steel Morning meeting] yesterday, even the iron was running weakly, and the early quotation in the port spot market was raised by 10-15 yuan / ton.
[macro outlook] pay attention to the official manufacturing PMI of China in June and the small non-farm data of the United States in June.
Us small non-farm data are stronger than expected, and investors are still watching the non-farm payrolls data to be released this week for clues to the future direction of interest rates. According to the survey, non-farm payrolls are expected to increase by 700000 in June, up from 559000 in May; the unemployment rate fell to 5.7 per cent from 5.8 per cent the previous month; and the labour force participation rate rose 0.1 percentage point to 61.7 per cent. Us house prices rose the most in more than 30 years in April. The data show that the U. S. economy is in a strong recovery. The hawkish policy tendency of the Federal Reserve worries the market.
The metal market rose, copper prices remained volatile, LME aluminium prices were supported by Russian supply concerns and falling inventories, and lead prices hit their highest level since July 2018 at $2322 a tonne. It is reported that Russia is preparing to impose new export taxes on steel, nickel, aluminum and copper. Nickel prices rose again today after a slight correction yesterday, showing a strong performance. Black system, thread, stainless steel rose iron ore has declined.
The dollar rose to its highest level on Monday, its biggest one-day gain in about two weeks, as a backlash could derail the global recovery and reduced risk appetite helped boost the dollar's safe-haven attractiveness.
U. S. stocks rose slightly on Tuesday, with both the Nasdaq and the S & P 500 hitting record intraday and closing highs. Economic data show a strong rise in US house prices and consumer confidence, with house prices rising at their biggest pace in more than 30 years in April. The market is waiting for the June non-farm payrolls report to be released this week. The Dow was up 9.02 points, or 0.03%, at 34292.29; the Nasdaq was up 27.83 points, or 0.19%, at 14528.33; and the S & P 500 was up 1.19, or 0.03%, at 4291.80.
Crude oil rose slightly, and as global demand rebounded from the outbreak, OPEC, led by Saudi Arabia and Russia, is considering whether to continue to restore more crude oil supplies. Russia is considering a proposal to increase production, but Riyadh hinted that it would prefer gradual and orderly progress. OPEC was scheduled to hold a joint ministerial supervisory committee meeting on Wednesday. It will now be changed to Thursday, the same day as the ministerial meeting.
In precious metals, gold futures fell to an eight-week low and may resume the decline as the dollar index surpasses the 92 mark, a new epidemic could curb the global economic recovery, and the US jobs report may also accelerate the Fed's withdrawal from the stimulus package. The rise in US inflation may be temporary, but there is a significant risk of persistence.
Yesterday, the A-share size index diverged throughout the day, with lower weights dragging down the Prev Index. Shanghai 50 and Shanghai and Shenzhen 300 all fell by more than 1%. The gem was high and strong in front of the index, and more than 3100 stocks fell in the two markets. Hot topics fall, plate rotation is poor, and capital risk appetite is reduced. Recently, the main line of technology stocks generally fell, the third-generation semiconductors led the decline, pork stocks, coal, national defense industry, wine, automobiles fell throughout the day, organosilicon, photovoltaic, Huawei Penteng concept stocks, Salt Lake lithium, clothing home textile stocks rose against the trend. On the disk, silicone, clothing and home textiles, online travel were among the top gainers, while the third generation semiconductors, Huawei automobiles, and national defense industries were among the top declines. As of the close, the Prev index fell 0.92% to close at 3573 points; the Shenzhen Composite Index fell 0.99% to close at 14999 points; and the gem index fell 0.19% to close at 3406 points.
LME inventory
Macro focus
Nationwide, the s & p CoreLogic case-Schiller real estate value index rose 14.6% from a year earlier, the biggest increase since 1988 and the 11th month in a row that house prices accelerated. The increase in March was 13.2%. At the same time, house prices in 20 American cities soared 14.9%, the biggest increase since 2005 and higher than the median expected by economists.
[Fed Barkin: once the employment situation has made "substantial progress" will begin to reduce the size of bond purchases.] the Federal Reserve Barkin said that it can be said that inflation has made substantial progress, once the employment situation has made "substantial progress". Will be prepared to begin to scale back bond purchases.
According to figures released by the Ministry of Commerce, from January to May this year, the total value of China's service trade imports and exports totaled 1.93806 trillion yuan, an increase of 3.7 percent over the same period last year, of which service exports totaled 911.78 billion yuan, up 20.1 percent. Imports fell 7.5 percent to 1.02628 trillion yuan. The growth rate of exports of services was 27.6 percentage points higher than that of imports, reducing the deficit in trade in services by 67.3% to 114.49 billion yuan, a decrease of 235.59 billion yuan over the same period last year. Compared with the same period in 2019, imports and exports of services decreased by 11.5%, with an average decline of 5.9% in two years, of which exports increased by 17.3%, with an average increase of 8.3% in two years, while imports decreased by 27.3%, with an average decline of 14.8% in two years.
[national Development and Reform Commission: strategic investors should be selected to promote the reform of mixed ownership of state-owned enterprises] the National Development and Reform Commission held an on-the-spot meeting on June 25 in Changsha City, Hunan Province to exchange experience in the reform of mixed ownership of state-owned enterprises. responsible comrades of some pilot enterprises attended the meeting. The meeting stressed that in order to promote the reform of mixed ownership in state-owned enterprises, it is necessary to select the right strategic investors and give priority to introducing industrial investors who have a strong synergistic effect with the main business of the enterprise and are highly related to the top and bottom of the industrial chain in which the enterprise is located, so as to achieve strategic coordination and complementary advantages. It is necessary to set up a scientific and reasonable ownership structure, so that strategic investors have weight in the ownership structure, have a say in the governance structure, and really play a "strategic" role.
[the World Bank raises China's economic growth forecast for this year to 8.5%] the World Bank report raises China's economic growth forecast for this year from 8.1% to 8.5%. China is the first major economy in the world to recover from the novel coronavirus epidemic, with factory and consumer activity returning to pre-outbreak levels. In East Asia, China and Vietnam are the only two economies to achieve a V-shaped recovery and return to pre-epidemic levels in 2020. The World Bank estimates that China is expected to vaccinate 40 per cent of its population by early summer and says full economic recovery requires progress in novel coronavirus vaccination efforts to achieve large-scale immunization.
The U.S. consumer confidence index stood at 127.3 in June, the highest level since February last year and estimated at 119.
[the monthly rate of the US FHFA house price index recorded 1.8% in April, the highest since 1991.] the monthly rate of the US FHFA house price index recorded 1.8% in April, the highest since 1991. The housing price index of S&P/CS20 major cities in the United States recorded an annual rate of 14.88% in April, the highest since November 2005.
The final value of the euro zone consumer confidence index for June was-3.3, compared with the previous value of-3.3 and expectations of-3.3. The euro zone industrial climate index for June was 12.7, compared with a previous reading of 11.5 and is expected to be 12.3. The index of industrial sentiment in the euro zone hit 12.7 in June, an all-time high.
[Hong Kong proposes six measures to build a livable low-carbon international city] on the 29th, the Hong Kong SAR government released the "Hong Kong Clean Air Blueprint 2035". The blueprint takes "healthy and livable low-carbon transformation as an international vision" and puts forward six major actions, including green transport, livable environment, comprehensive emission reduction, clean energy, scientific management and regional coordination.
Today's focus
[SMM analysis copper price decline spurred copper downstream PMI to rise in June but may fall again in July] the final value of the PMI composite index of copper downstream industry in June was 52.36, which was higher than the expected 51.78. "check the details.
[SMM alumina daily evaluation market quotation is flat. An alumina plant in Shanxi is affected by water shortage.] in terms of alumina supply, SMM understands that Dongfang Hope Jinzhong Alumina Plant recently stopped production of a production line due to water shortage in nearby reservoirs, involving an annual production capacity of 1 million tons per year, and the resumption time has yet to be determined; in addition, "check for details."
[ADC12 price evaluation aluminum price weakens slightly and recycled aluminum price stabilizes] Today, aluminum price is slightly weaker, SMM A00 aluminum price is down 10 yuan / ton from Monday to 18820 yuan / ton, recycled aluminum price is still stable. "View details
[summary of the transaction of the original lead market in SMM Review on June 29th] the mainstream quotation for reducing lead in Anhui today is 13800-13900 yuan / ton. A refinery today reduced lead (excluding tax) 13850 yuan / ton to the factory, recycled refined lead bulk single profit is not good, there are few quotations. "check the details."
[SMM zinc brief review intra-day zinc volume rose bulls to regain confidence] within the day, the main 2108 contract for Shanghai zinc opened at 21830 yuan / ton. During the opening period, zinc fluctuated horizontally around the daily moving average. In the late 11:00, zinc was under pressure and fell to the bottom at one point, hitting a weekly low of 21670 yuan / ton. Zinc was pulled up in the late afternoon and was pushed up to 21955 yuan / ton per day by rockets. Zinc finally closed at 21905 yuan / ton, up 65 yuan / ton, or 0.3%. The position increased by 1291 to 102120 hands. "View details
[SMM Nickel spot Daily Review spot quotation for 08 contract is still light] in terms of quotation, the mainstream price of Russo Nickel against Shanghai Nickel 08 contract rose 100-300 yuan / ton, Jinchuan Nickel opened up 1000-1200 yuan / ton, smelter left the factory to check the details.
[SMM tin brief review market trading light Shanghai tin concussion] on the 29th Lunxi opened low and went high, hitting as high as $21395 / ton in intraday trading, maintaining a high concussion rise and light intraday trading. Fundamentally, overseas supply is in short supply, and overseas LME tin cash contracts are currently maintained. "check the details.
[the price adjustment forecast of SMM Shagang predicts that the ex-factory price of Shagang 7-1 rebar will remain stable without supplement] it is expected that the ex-factory price of Shagang 7-1 rebar will remain stable, that is, the third-grade large snail (ex-factory price 5100 yuan / ton) is calculated, the East China koute cost is 5050 yuan / ton, and the factory lift cost is 5000 yuan / ton. "View details
[SMM hot rolling arrival party anniversary celebration soon affected the pace of hot rolling arrival] SMM Steel, according to SMM statistics, this week estimated that the total market resources arrival volume of 233000 tons, a month-on-month decrease of 32800 tons, a drop of 12%. Look at the market by market, "check the details."
[SMM Coke spot Review Steel Plant Coke inventory availability days increased] SMM June 29 Coke spot Daily Review: today, coke prices in Shandong are running smoothly, steel mills generally did not accept the first round increase in coke, and Shandong mainstream steel mills maintained their original purchase prices. As a result of the recent safety inspection and the 7100th anniversary, the operating rate of coke enterprises decreased compared with the same period last year, the inventory remained stable, and the production and marketing were basically balanced; the operating rate of steel mills also decreased compared with the same period last year, and the available days of coke increased. At present, the supply of the coke market is stable, and the price is relatively stable. In the later stage, the focus of the game in the steel coke market lies in the actual changes in supply and demand, and we should also pay attention to the implementation of the production-limiting policy of "fixed coke by steel and fixed production by coal" put forward by Shandong in June. "View details
[SMM Daily Review: praseodymium-neodymium metal price warms up NdFeB blank price] SMM June 29: the price of praseodymium-neodymium metal has rebounded recently, according to the SMM price 28, 29, the average price of praseodymium-neodymium metal rose 5000 yuan / ton, reaching an average price of 585000 yuan / ton. Finally ushered in a rebound after a sustained fall in prices. "check the details."
Important news of metals and industry
[previous period: agreed to China Reserve Development to adjust the storage point, delivery variety and storage capacity of non-ferrous futures] on June 28th, Shanghai Stock Exchange issued an announcement. It is agreed that the Shanghai Branch of China Reserve and Development Co., Ltd., located at No. 2280 Jianchuan Road, Minhang District, Shanghai, will become the designated delivery warehouse for copper, zinc and lead futures, with an approved storage capacity of 60, 000 tons of copper, 20, 000 tons of zinc and 5, 000 tons of lead. It is agreed that the storage capacity of copper (or aluminum), zinc and lead in Dachang Branch of China Reserve Development Co., Ltd. will be reduced to 136000 tons of copper (or 45300 tons of aluminum), 40, 000 tons of zinc and 10, 000 tons of lead.
[previous period: agreed to adjust the storage capacity of Shanghai Quansheng Logistics to 10, 000 tons of aluminum and 25000 tons of zinc] on June 28th, Shanghai Quansheng Logistics Co., Ltd. agreed to add a warehouse at No. 3645 Cao'an Road, Jiading District, Shanghai to become the designated delivery warehouse for zinc futures, with an approved storage capacity of 20, 000 tons. It is agreed that Shanghai Quansheng Logistics Co., Ltd. will reduce the storage capacity of aluminum and zinc in Jiangyang South Road warehouse of Quansheng Logistics by 10,000 tons and 5,000 tons respectively. After adjustment, the warehouse capacity of Quansheng Logistics Jiangyang South Road is 10, 000 tons of aluminum and 25000 tons of zinc.
[Brazilian aluminum company CBA IPO aims to raise more than US $600 million] recently, Brazilian aluminum company CBA unveiled its IPO plan, which is expected to raise more than US $600 million. It is reported that the company's shares are expected to begin public trading on July 15.
[Zhongfu Gaojing Aluminum Co., Ltd. has successfully passed the examination and approval of Lloyd's Classification Society] Lloyd's Classification Society is one of the classification societies, which has high standards and very strict requirements for marine products entering the international market. In June this year, a group of experts from Lloyd's Shipping Society came to Zhongfu High Precision Aluminum Co., Ltd., and examined and approved the production license certificate of the enterprise's marine aluminum alloy sheet products.
[Greenbeauty: subordinate companies put into operation 100000 tons of battery-grade high-purity nickel-cobalt salt crystal project] Green Mei announcement, wholly-owned subordinate companies invest in the construction of 100000 tons of battery-grade high-purity nickel cobalt salt crystals (nickel sulfate, cobalt sulfate and cobalt chloride crystals). The total investment of the project is 310 million yuan, and the sales revenue of the project is expected to reach 4.98 billion yuan in the normal production year.
It is estimated that the ex-factory price of Shagang 7-1 rebar is stable, that is, the third-grade large snail (ex-factory price 5100 yuan / ton) is calculated, the East China warehouse cost is 5050 yuan / ton, and the factory lift cost is 5000 yuan / ton.
[China Iron and Steel Association carries out the solicitation of special standards for carbon neutralization in the iron and steel industry] the low-carbon work Promotion Committee of the China Iron and Steel Association intends to carry out the solicitation of special standards for carbon neutralization in the iron and steel industry. The scope of this collection: carbon emission accounting, carbon emission quota, low-carbon evaluation, carbon emission monitoring, carbon asset management, oxygen furnace, non-blast furnace ironmaking, carbon capture, storage and utilization, energy efficiency improvement and other iron and steel industry low-carbon technology, process, equipment, products, monitoring, management, testing and other related standards.
[Rishang Group: plans to invest 370 million yuan in Caofeidian metal processing and lightweight wheel project] Rishang Group announced that Hebei Rishang intends to invest in the construction of Caofeidian metal processing and lightweight wheel project in Caofeidian Iron and Steel Power Park, Tangshan City, with a total investment of about 370 million yuan. when the project is completed, it is expected to achieve annual steel Kaiping and blanking processing capacity of about 180000 tons, and annual steel hub output of about 4.7 million.
Central issued a public announcement on the price of single crystal silicon wafers in June, the first price cut for Central silicon wafers this year. In the silicon wafer with 170 μ m thickness, G12 is 7.53 yuan / wafer, M6 is 4.72 yuan / wafer, and M1 is 4.62 yuan / wafer. Company sources said that if the price of the industrial chain remains high, the downstream installed capacity target may be lowered.
Terminal information
[MediaTek promotes the launch of 5G open architecture terminal products in July] Mobile phone chip designer MediaTek today announced the Tianyu 5G open architecture, which allows terminal manufacturers to have more flexibility when customizing 5G mobile devices. The device, which uses MediaTek 5G open architecture custom chips, is expected to go on sale in July.
[Toyota's global sales rose 45% in May, surpassing the previous year for nine months in a row] Toyota released production, sales and export data for May (including Toyota and Lexus), and global production rose 83% year-on-year to 671000 vehicles. The novel coronavirus epidemic led to a factory shutdown last year, which increased sharply due to a low base. Although it was higher than the same month last year for nine consecutive months, it did not reach the level of 802000 in May 2019 before the epidemic spread. Global sales rose 45 per cent to 840000 vehicles in May 2021, also surpassing the previous year for nine consecutive months. Overseas sales rose 48 per cent to 730000, an all-time high in may. In the United States, sales of SUV "Hanlanda" and sedan "Camry" and "Corolla" were strong, up 46% to 242000 vehicles.
[Midea: global core shortage does not affect production and order delivery] Midea said in an institutional survey that as the world is facing a wave of core shortage, Midea, as one of the largest downstream customers in related fields, has established a long-term and stable cooperative relationship with upstream head suppliers, and relevant suppliers will give priority to supplying goods to the United States, which has not affected production and order delivery in the United States at present. In addition, Midea already has two chip technology companies in Shanghai and Chongqing. In addition, with regard to the performance of the company, as of 24:00 on June 18, Midea's total sales exceeded 16 billion, and it was ranked first in the home appliance industry for nine years in a row in Tmall, JD.com and SUNING Pingtai.
[release of new batteries, determine the technical route Great Wall car radical layout of power batteries] Great Wall Motor's layout in the field of power batteries has become more and more radical after the establishment of a "five-year plan" to sell 3.2 million new energy vehicles a year by 2025. On June 29, Great Wall Motor released "Dayu Battery". This new battery with three-yuan 811 high-capacity high-nickel battery can effectively solve the problem of fire and explosion after thermal runaway in different chemical systems, and patents will be opened free of charge to the whole industry.
[Zhengye Technology: the net profit in the first half of this year is expected to increase by 215% RMB245% over the same period last year] Zhengye Technology: it is expected to make a profit of RMB 157 million-170 million in the first half, an increase of 215% Mel over the same period As of June 28th, the amount of the company's on-hand order is about 696 million yuan, of which the lithium battery testing automation business is about 421 million yuan.
[GM Kansas plant will be shut down until Aug. 16] according to foreign media reports, GM said on June 28 that the downtime of its Fairfax assembly plant in Kansas City would be extended to Aug. 16. The plant has been shut down since Feb. 8 due to global chip supply shortages, and GM informed employees of the suspension on June 17.
About 200000 sets! Funeng Technology wins Liuzhou Wuling Power Battery system order] according to Liuzhou Wuling sales plan, Funeng Technology began to supply Liuzhou Wuling in June 2022, with an estimated supply of about 200000 sets of power battery systems. Funeng Technology said that Liuzhou Wuling is a newly developed customer and another realization of the company's strategic goal of customer development, which will further promote the company to develop the southwest market from point to area.
![Guangxi Yusheng Germanium Industry Akan Mengadakan Tender Umum untuk Produk Germanium pada Tanggal 31 [Laporan SMM]](https://imgqn.smm.cn/usercenter/jMeFI20251217171722.jpeg)
