Report: Trade dispute lowers Jan-Sep car imports by 4.2% YoY

[SMM analysis: The impact of the pandemic on automobile enterprises was higher than expected, and the impact on downstream demand may in April may exceeded 20%] This round of fierce pandemic has also impacted the whole new energy industry chain. The first is the automotive industry. FAW Volkswagen in Changchun took the lead in stopping production on March 13. Tesla and SAIC Volkswagen in Shanghai also stopped production after the outbreak began. At present, there is no news about when they will resume production. Vehicle manufacturers across the country have successively stopped production and reduced production amid the insufficient components and parts. At present, some battery enterprises have reported that the pandemic has affected the annual production scheduling plan, and most battery enterprises have experienced decline in orders of April and May.

Gree Electric announced that it has bid for 30.47% of Yinlong New Energy's equity through the public judicial auction. Dongmingzhu, Gree’s chairman of the board, entrusted her 17.46% of the Yinlong equity to Gree.

In order to promote innovative and integrated development of new materials and the automotive industry, SMM, Shanghai Society of Automotive Engineers, and Suzhou Die Casting Technology Association led a team to Jiangsu for investigation and exchange of automobile new materials during March 26-27.  

On the morning of March 27, SMM and the team arrived at Suzhou Yadelin Co., Ltd. Chairman Shen Lingen, technical director Tang Hui and others warmly welcomed the team.

Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

Nonferrous metals on both SHFE and LME declined across the board on Monday morning. Developments on the coronavirus front will likely continue to be monitored by investors and could weigh on sentiment.

Nonferrous metals on the SHFE were mostly higher on Tuesday morning, and their counterparts on the LME rose across the board, following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.

Shanghai base metals and their counterparts on the LME all cruised higher on Monday morning, holding onto their last Friday gains.  

Shanghai base metals mostly declined on Thursday morning, as investors reacted to minutes released overnight from the US Federal Reserve's November meeting. Meanwhile, their counterparts on the LME were mostly higher on the board.

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.