Metals News
[news at noon] will Meng's extradition affect Sino-US economic and trade negotiations? * China Iron and Steel Association: the average daily output of crude steel in key steel enterprises in China in early January was 1.8444 million tons.
Jan 23,2019
The content below was translated by Tencent automatically for reference.

Metal news

[industry policy first, where does alumina go? On December 18, 2018, the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the Circular on promoting the orderly Development of the Alumina Industry. The Circular pointed out: affected by such factors as fluctuations in the international market and rising prices at the beginning of this year, some enterprises are blindly optimistic about the market prospects and have rushed to plan and build a number of alumina projects in coastal areas. It has caused serious overcapacity worries to the industry and affected the healthy development of the industry. In order to promote the orderly and healthy development of the alumina industry, the circular is hereby issued. "View detail

[Huacheng Aluminum Industry High performance Special Aluminum production Project was included in the list of key Construction projects in Shandong Province in 2019] A few days ago, the Shandong Provincial Development and Reform Commission announced 100 key construction projects in Shandong Province in 2019. Shandong Huajian Aluminum Group Co., Ltd. has an annual output of 150000 tons of high-performance special aluminum projects. According to the "Shandong release" news: speed up the transformation of new and old kinetic energy, to achieve high-quality development, the core is the industry, the key lies in the project. The reporter learned from a ventilation meeting held by the Provincial Development and Reform Commission on January 21 that in 2019, Shandong identified 120 key provincial projects, including 100 construction projects and 20 preparatory projects. The total investment of the project is 613 billion yuan, of which 336 billion yuan is invested in 100 construction projects. "View detail

[LME zinc write-off warehouse receipts more than doubled to 32.91 per cent] data released by LME showed that as of January 22, LME zinc write-off warehouse receipts had more than doubled to 39100 tons, accounting for a rapid upward trend to 32.91 per cent. Registered warehouse receipts plunged 22 per cent to 79725 tons. Total zinc stocks in the LME period fell 13 days to 118825 tons, a one-month low, and are likely to fall further. "View detail

[second half of 2018: South32 Australian mine production record South Africa high quality mineral production also increased]: recently, South32 released its fourth quarter 2018 financial report, financial report shows that in the second half of 2018, Australian manganese ore production broke the historical record, reaching 1811kwmt.In the second half of 2018, Australian manganese ore production broke the record, reaching 1811kwmt. The production of high-quality manganese ore in South Africa has also increased. In October 2018, the company paid a year-end dividend for fiscal 2018, costing a total of $316 million, and bought 68 million shares in cash in the second half of the year. As of December 31, 2018, the company completed 79% of its capital management plan with US $1 billion and bought back 272 million shares at A $3.09 per share through market trading. "View detail

[China Iron and Steel Association: the average daily output of crude steel in key steel enterprises in China in early January was 1.8444 million tons.] in early January 2019, the average daily output of crude steel in key steel enterprises in China was 1.8444 million tons, an increase of 62900 tons over the previous ten days, an increase of 3.53 percent. By the end of January, the steel inventory of the country's key iron and steel enterprises was 11.2679 million tons, down 119600 tons, or 1.05 percent, from the end of the previous decade.

[Sanbao Group became the first industrial enterprise in Zhangzhou to pay more than 1 billion in taxes] Sanbao Group made remarkable achievements in 2018, with the total annual tax amount exceeding 1 billion yuan, making it the first industrial enterprise in the city to break through 1 billion yuan. The total amount of tax paid in Zhangzhou amounts to 1.056 billion yuan. In 2018, the group completed a steel output of 3.73 million tons, a completion rate of 101 percent, and a sales rate of 3.63 million tons, with a completion rate of 107 percent, breaking an all-time high. "there are three steel in the north and three treasures in the south." this sentence is often used by the iron and steel industry to describe the construction steel market in Fujian. Sanbao Group, founded in 1999, is a comprehensive iron and steel group with the integration of iron and steel scientific research, production and trade. At present, the group has formed a production scale with an annual output of 4.62 million tons of steel, and the comprehensive strength of the industry ranks second in Fujian Province. Its products are widely used in high-speed rail, subway, undersea tunnels, nuclear power plants and other major national projects. The Group has more than 10 subsidiaries, such as Fujian Sanbao Iron and Steel Co., Ltd., Fujian Sanbao Special Steel Co., Ltd., Fujian Sanbao Foundry Co., Ltd., Zhangzhou Fujian and Macao Trading Co., Ltd., Zhangzhou Sanbao Logistics Co., Ltd. "View detail

Macro market

[former US Secretary of State said at Davos: Trump should resign] on January 23, Beijing time, when asked about US President Donald Trump (Donald Trump), Former US Secretary of State John Kerry (John Kerry) replied with only one word: "resign." The former secretary of state made the statement in an interview at the World Economic Forum in Davos, Switzerland. Kerry hesitated at first, thinking that "Trump will not take this seriously." he finally answered the question and felt that Trump should resign. "View detail

Does the extradition of Meng Wanzhou affect the Sino-US economic and trade negotiations? The Ministry of Foreign Affairs: depending on the US action, it is reported that the Canadian ambassador to the United States said in an interview that the US side has informed Canada that it will make a formal request for extradition in respect of the Meng Wanzhou case, and Canada does not like the US judiciary to deal with Meng Wanzhou. The punishment was Canadian. What is China's comment on this? A: China has repeatedly stated Yan Zheng's position on the Meng Wanzhou incident. Anyone with normal judgment can see that Canada has made serious mistakes on this issue from the very beginning. The Meng Wanzhou incident is obviously not an ordinary judicial case. Canada and the United States arbitrarily abuse the bilateral extradition treaty between them, which constitutes a serious violation of the security and legitimate rights and interests of Chinese citizens. We urge Canada to immediately release Ms. Meng Yuezhou and effectively protect her legitimate and legitimate rights and interests. We also strongly urge the US side to immediately correct its mistakes, rescind the arrest warrant for Ms. Meng Yuezhou, and refrain from making a formal request for extradition to Canada. "View detail

[full text of Fang Xinghai's speech at Davos: there is still room for China's fiscal policy] on January 22, "Winter Davos 2019" was held in Davos, Switzerland, from January 22 to 25. Fang Xinghai, vice-chairman of the CSRC, who spoke at a special session on "rethinking global financial risks", said China's GDP growth was expected to be around 6 per cent this year, down from 6.6 per cent in 2018. China's economic slowdown is a necessary adjustment, and there is still room for fiscal policy. In response to a question about lifting the limit on the first day of new shares, Fang Xinghai said at Davos that he was studying the relevant policies. It also said that the policy of further liberalization of stock index futures will be launched as soon as possible. He believes that the sooner Science and Technology Innovation Board is introduced, the better. "View detail

[Japan's exports to China fell 7% in more than two years in December] Japan's exports fell 3.8% in December from a year earlier, the biggest drop since October 2016, mainly due to a sharp drop in exports to China and Asia. Exports to China fell 7 per cent from a year earlier, while exports to Asia fell 6.9 per cent. Exports to Asia account for more than half of Japan's total exports. Exports to the United States rose 1.6 percent, imports from the United States soared 23.9 percent, and the trade surplus with the United States fell for the sixth month in a row.

[the Bank of Japan kept interest rates unchanged and cut its core CPI forecast] on Wednesday, January 23, the Bank of Japan released an interest rate resolution showing that the policy interest rate was kept at-0.1%, in line with expectations. Maintain the 10-year Japanese bond yield target of 0% unchanged, in line with expectations. The BoJ's policy review committee kept the yield curve unchanged by a vote of 7 to 2, the same as the vote at the December meeting, with policy reviewers Tae Harada and Takashi Kataoka voting against it. But at the same time, the Bank of Japan cut its core CPI forecast and its GDP growth forecast for the current fiscal year, and raised its GDP growth forecast for the next two years. "View detail

[Ministry of Finance: by the end of 2018, the balance of local government debt across the country was 18.3862 trillion yuan.] according to the Ministry of Finance, the Ministry of Finance announced the issuance of local government bonds and the balance of local government debt in 2018. According to the data, the national issuance of local government bonds totaled 4.1652 trillion yuan, and by the end of 2018, the balance of local government debt across the country was 18.3862 trillion yuan, within the limit approved by the National people's Congress.

[this year's exchange rate reform roadmap has emerged that the QFII quota will steadily increase by US $10 billion] recently, Pan Gongsheng, deputy governor of the central bank and director of the State Administration of Foreign Exchange, has written a long article on the reform and development of foreign exchange management that has aroused widespread concern in the market. The author believes that Pan Gongsheng can be regarded as the road map of foreign exchange reform this year. In the process of steadily and orderly promoting the opening of RMB capital account, the reform of the foreign exchange management system of qualified foreign institutional investors such as QFII is the first to bear the brunt. From the historical experience, after the expansion of the total QFII quota, there will be an explosion of new approved quotas. "View detail

Wen Jianwu, director of the Industrial Statistics Department of the National Bureau of Statistics, said: "in 2018, the operation of industrial production was generally stable, and the growth rate of industrial added value above scale was maintained within a reasonable range. The industrial structure has been continuously optimized, the effect of supply-side structural reform has been continuously shown, the profitability of enterprises has been enhanced, and the operating environment of small and micro enterprises is improving. " "View detail

[the rebound is over? Overnight, U. S. stocks suffered their biggest losses since Christmas. U. S. stocks weakened overnight after the news that trade talks had "made little progress." 95 per cent of S & P stocks fell yesterday, the biggest one-day drop since Bloody Christmas. Not only that, 88 per cent of stocks on the NYSE are falling, with all major US indices falling below their 50-day moving average. After nearly a week of gains, U. S. stocks weakened overnight on the back of trade news and successive falls in Asian and European stock markets. By the close of trading yesterday, the three major indexes of US stocks had fallen, with the Nasdaq and the Dow performing worst (down more than 2 per cent each). 95 per cent of stocks in the S & P 500 fell yesterday, their biggest one-day decline since the bloody Christmas on December 24. "View detail

[what does it mean for A shares for GDP to break through 90 trillion yuan for the first time? Although there are many uncertain factors in 2018, China's economy still produces a brilliant report card: preliminary accounting is shown in the 2018 annual economic development data released by the National Bureau of Statistics on January 21. In 2018, China's gross domestic product (GDP) exceeded 90 trillion yuan for the first time, an increase of 6.6 percent over 2017, and achieved the expected target of 6.5 percent. For the time being, this breakthrough of 90 trillion yuan is the result of overcoming many difficulties, the counter-cyclical adjustment of macro policy, and the deepening of supply-side structural reform. In terms of absolute highs, it is not easy for China's economy to achieve such results in the past year. At the average exchange rate, the total volume of the economy reached about US $13.6 trillion, ranking second in the world. Moreover, the 6.6% growth rate ranks first among the world's top five economies. According to calculations, in the past decade, the average annual contribution rate of China's economy to world economic growth has been more than 30 percent, continuing to become the largest contributor to world economic growth, demonstrating the strong resilience and potential of China's economy itself. It can be said that China is now the most important engine of global economic growth. "View detail

Terminal market

[three battery factories in South Korea have received orders of nearly US $160 billion] under the demonstration effect of Tesla Company in the United States, there has been an upsurge in the research and development of electric vehicles all over the world. This has also activated the upstream industrial chain represented by automotive battery enterprises. LG Chemical, Samsung SDI and SK Innovation, three South Korean battery makers, won about 110 trillion won ($97.6 billion) in electric car battery orders from global customers last year, according to forecasts by industry insiders and brokers. Together with the orders on hand the previous year, the backlog of orders from the three companies is expected to reach 175 trillion won, or nearly $155 billion, some industry insiders said. "View detail

[major breakthrough in research and development of medium-speed maglev power supply rail] the reporter learned from the Hunan Maglev Technology Research Center that the research and development results of the medium-speed maglev power supply rail conquered by the joint R & D team led by the center have been reviewed by experts. It marks a major breakthrough in the flow of the third track of medium-speed maglev.

[three new cars Jiangling New Energy 2018 sales of nearly 50, 000] recently, Jiangling Group New Energy official news that the company sold nearly 50, 000 vehicles in 2018, an increase of about 65% over the same period last year. In 2019, Jiangling Group New Energy is expected to launch three new models, further broadening the market coverage. Over the past four years, national and local governments have given great support to new energy vehicles, and many car companies, including Jiangling Group New Energy, have enjoyed high subsidies. In 2018, Jiangling Group gained nearly 50,000 new energy sales, a sharp increase for four consecutive years compared with the same period last year, and the enterprise has always maintained a profit. In the statistics of the Federation, Jiangling Group New Energy E200 firmly occupies the sixth place in China's new energy vehicle sales list (retail volume from January to November 2018). "View detail

Related market

Fears of a global economic slowdown are lingering as signs of a global economic slowdown spread and fears of a future decline in fuel demand have intensified, with both oil prices falling 2 per cent. Earlier economic data showed that the economies of China and South Korea had cooled significantly, and the IMF had cut its global growth forecast to its lowest level in three years. Both international oil prices fell about 2 per cent as signs of slowing global economic growth spread and fears of a future decline in fuel demand intensified. At 19-10 p.m. Beijing time on Tuesday, Bout crude fell 2% to $61.48, while WTI crude fell nearly 2% to below the $63 mark. "View detail

[three major oil enterprises work meeting: increasing reserves and production is the top priority this year] PetroChina, Sinopec and CNOOC three central oil enterprises recently held 2019 working meetings one after another. At the meeting, the management of the three major oil companies unanimously mentioned the importance of upstream business, and all proposed to further strengthen exploration and development this year to promote oil and gas resources to increase reserves and production. The reporter subsequently learned from the company that PetroChina's venture exploration investment will increase from 1 billion yuan to 5 billion yuan this year.

[China announces for the first time that the external cost of oil exceeds 400 yuan per ton] on January 23, The first International Symposium on "leapfrogging the Petroleum Age", sponsored by the China Electric vehicle 100-person Association and the China Petroleum consumption Total consumption Control Program and Policy Research Group, was held in Beijing. At the meeting, Yang Fuqiang, director of the China Electric vehicle 100 people's Association, said that in 2015, the total external cost of China's oil was 441.3 yuan per ton, accounting for 0.05 percent of that year's GDP. The external costs of oil include air pollution, water resources damage, soil pollution, solid waste and health impacts caused by the development and utilization of oil.

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