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.

LME base metals closed mixed in the overnight trading last Friday, as the expanding inflation and rising US dollar weighed on the market, but short supply still supported the prices. SHFE metals basically went down.

LME and SHFE non ferrous metals all declined in yesterday’s overnight trading as Fed officials implied to raise interest rates in advance and increased the excess reserve ratio.

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.

On the morning of March 26, SMM and the team arrived at Suzhou Lida Foundry Co., Ltd. Chairman Ji Jiqing and Lida General Manager Cui Youjun warmly welcomed the team.

In early August, automobile output by 11 key Chinese automakers stood at 1.11 million units, down 15.8% from early July, but up 46.4% from the same period last year, while sales came in at 939,000 units, down 0.3% month on month and 4.2% year on year, according to data from China Association of Automobile Manufacturers (CAAM).

Several tire producers have recently issued price increase letters. Rising prices of natural rubber and recovery of the automobile market led to the increases in tire prices, according to Huachuang Securities.

China’s production and sales of automobiles both achieved double-digit growth in May, boosting optimism over the recovery from the Covid-19 pandemic.