SMM Zinc Market Morning Review (2015-11-13)

The General Office of the State Council issued the "Work Plan for Accelerating the Cultivation of New Growth Drivers in Service Consumption," which introduces 12 policy measures across three dimensions: stimulating development vitality in key areas, fostering momentum in potential sectors, and strengthening support mechanisms. The plan explicitly identifies transportation, home services, online audiovisual content, residential tourism, the automotive aftermarket, and inbound consumption as key service consumption sectors.

By the end of 2025, China's new-type energy storage installations had exceeded 130 million kW, an increase of 84% compared to the previous year and more than 40 times higher than at the end of the 13th Five-Year Plan period. In response, the National Development and Reform Commission (NDRC) and the National Energy Administration jointly issued a document to refine the capacity electricity price mechanisms for coal power, gas power, pumped storage, and new-type energy storage, with a particular focus on establishing a corresponding capacity electricity price mechanism for grid-side independent new-type energy storage.

US President Trump formally nominated former US Fed Governor Kevin Warsh as the next Fed Chairman to succeed Powell, whose term ends in May. However, the nomination still requires approval from the Senate. Currently, Senate Democratic Leader Schumer and Republican Senator Tillis have explicitly stated they will block Warsh’s nomination unless the investigation into Powell is dropped. Additionally, Democratic Senator Warren also believes Warsh is not a suitable candidate for Fed Chairman. During his tenure at the US Fed, Warsh maintained a hawkish monetary policy stance, but in recent years he shifted to support Trump’s tariff policies and advocated for faster interest rate cuts. Some analysts suggest that if Warsh ultimately becomes Fed Chairman, the US Fed’s policy framework could under