[SMM afternoon News] the onshore RMB hit its highest level since July last year * the death toll from Brazil's dam break rose to 99.-Shanghai Metals Market

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[SMM afternoon News] the onshore RMB hit its highest level since July last year * the death toll from Brazil's dam break rose to 99.

Translation 12:00:39PM Jan 31, 2019 Source:Shanghai Nonferrous Metals Network

Metal news

[world's largest nickel producer Norilsk nickel group nickel production increases 16% in the fourth quarter from a month earlier, 19 expected to produce 22-225000 tons of nickel] PJSC MMC Norilsk Nickel, the world's largest refined nickel and palladium producer, yesterday announced the fourth quarter and the whole of 2018 As a result of comprehensive production, It also reiterated the production prospect for the whole of 2019. 2018Q4 and full-year production: in the fourth quarter of 2018, combined nickel production rose 16 per cent from a year earlier to 62000 tons, almost all of which was produced from Russian raw materials. The increase was due to the expansion of Kola MMC production capacity and the increase in nickel concentrate production sold to third parties. In 2018, comprehensive nickel production rose 1 per cent from a year earlier to 219000 tons. "View detail

Brazil's Minas Gerais state civil defense department reported on the evening of the 30th that after the sixth day of search and rescue operations, the dam break accident in the state has been confirmed to have killed 99 people and 259 people are still missing. Minas Gerais state of an iron ore waste mine dam 25 dam break accident, the mine dam belongs to Brazil's Vale do Rio Doce. After the dam broke, the mud went down the river, destroying a large number of buildings along the way. "View detail

[China's gold output of 401.119 tons ranked first in the world for 12 consecutive years] according to the latest statistics of the China Gold Association, in 2018, the domestic gold output was 401.119 tons, ranking first in the world for 12 consecutive years, compared with the same period last year. Production was reduced by 25.023 tons, down 5.87 per cent from a year earlier. Among them, the gold mineral gold is 345.973 tons, and the non-ferrous raw materials produce 55.146 tons of gold. In 2018, the country's actual gold consumption was 1151.43 tons, ranking first in the world for six consecutive years, an increase of 5.73 per cent over the same period last year. "View detail

Macro market

[China's official manufacturing industry announced in January that it was below the withered line for the second month in a row.] China's official manufacturing PMI in January was 49.5, expected to be 49.3, compared with a previous value of 49.4, the second month in a row below the withered line. China's official non-manufacturing PMI in January was 54.7, expected to be 53.8, compared with a previous value of 53.8. After the release of the data, the Australian dollar / US dollar rose slightly in the short term. In January 2019, China's manufacturing purchasing managers' index rebounded, while the non-manufacturing business activity index rose for the second month in a row, and the increase was expanded, among which the service business activity index rebounded significantly. The composite PMI output index rose modestly, surpassing its high in the fourth quarter of last year. "View detail

[the yuan's midpoint rose 318 points onshore to its highest level since July last year] the yuan's midpoint against the dollar was at 6.7025, its highest level since July 19 last year. The onshore renminbi opened above 6.7, the highest level since last month. Overnight, the Fed sent the strongest signal to suspend interest rate hikes. "View detail

Terminal market

[ten departments and six "gift bags" promote car consumption in 2019 the car market is expected to relax] on January 28, Ten departments, such as the National Development and Reform Commission and the Ministry of Industry and Information Technology, issued the implementation Plan for further optimizing supply, promoting steady growth of consumption and promoting the formation of a strong domestic Market (2019), making it clear that more measures should be taken to promote automobile consumption at the same time. "View detail

[U.S. housing sales are weak: the leading indicator fell for three months to its lowest level since 2014.] data released Wednesday by the National Association of Realtors showed that Pending sales of completed homes in December (pending home sales, refers to sales of existing homes that have signed contracts but have not yet been completed), down 2.2 per cent from a year earlier. Economists had previously forecast an increase of 0.5 per cent, according to a Thomson Reuters survey. Pending sales are a forward-looking indicator of existing home sales over the next month or two, the third straight month of decline and the lowest level since April 2014. "View detail

[Hainan Province's first expressway new energy vehicle exchange power station opens] recently, Hainan Provincial Traffic Investment Holdings Co., Ltd. and Shanghai Weilai Automobile Co., Ltd. in Hainan Province, the first highway new energy vehicle exchange power station built in cooperation with Shanghai Weilai Automobile Co., Ltd. in the Maple Service area of Hainan Middle Line Expressway has been put into operation. New energy vehicles can replace fully charged batteries in three minutes, even if they take more than 10 minutes to repair. "View detail

[Geely responds to acquisition rumors: no such plan, no contact or negotiation] there have been recent reports in the Italian media that Geely is interested in acquiring Fiat's (FCA) Alfa Romeo and Maserati brands. Geely officials responded: in order to clarify the facts and avoid the spread of false reports, Zhejiang Geely holding Group hereby announces that the company has no plans to acquire the brand, nor has it carried out any business contacts or negotiations related to it.

Related market

[Bureau of Statistics: in the near future, the construction industry is expected to continue to maintain a steady expansion] the construction industry sentiment fell back at a high level. The business activity index, at 60.9%, continues to be in the high economic range, but is down 1.7 percentage points from the previous month, indicating that the growth rate of construction production has slowed due to factors such as the low winter weather and the concentration of employees returning home near the Spring Festival. In terms of market demand, the index of new orders in the construction industry is 55.8%, down 0.7 percentage points from the previous month, but it is in a higher economic range continuously. The market demand is generally stable, and the construction industry is expected to continue to expand smoothly in the near future. "View detail

[GMP plans to deploy 6MW/24MWh battery energy storage system project] it was reported a few days ago, Vermont utility Green Mountain Power (GMP) plans to add three total installed capacity to grid operations for 14.4MW solar power facilities and 6MW/24MWh battery storage systems to reduce regional transmission costs. The Vermont Public Utilities Commission (PUC) approved the first solar + energy storage project on January 16, the smallest of the three. The project, deployed in Essex, Vermont, is expected to cost about $14.3 million to develop and interconnect. "View detail

[in 2019, the integration of the photovoltaic industry accelerated the second highest in the history of new installations last year.] the shock wave brought about by the "531" weaning policy led the photovoltaic industry to hand over the second highest report card in the history of new installations in 2018. On the other hand, the enterprises in the industrial chain are "mixed with joys and sorrows". In 2019, the National Energy Administration will carry out "two-track management" of the photovoltaic industry according to whether subsidies are needed. In principle, projects that need state subsidies should adopt market-oriented competition to determine construction projects and subsidy standards, and relevant policies will be introduced as soon as possible. Although the industry is optimistic about the overall domestic market situation this year, the new installed capacity is expected to be in 35GW to 45GW, foreign installed capacity is also blooming everywhere, but the overall demand or the emergence of "cold and hot" situation, integration will speed up. "View detail

[Su Xin Energy 4 billion square coal to natural gas project has been postponed] recently, Su New Energy and Feng Co., Ltd. (hereinafter referred to as "Su New Energy") issued a message that it was approved by the National Development and Reform Commission. The company's demonstration project with an annual production capacity of 4 billion cubic meters of coal to natural gas has been extended for one year. "View detail

"Click to view details

Key Words:  Copper  aluminum  lead  zinc  tin  nickel 

[SMM afternoon News] the onshore RMB hit its highest level since July last year * the death toll from Brazil's dam break rose to 99.

Translation 12:00:39PM Jan 31, 2019 Source:Shanghai Nonferrous Metals Network

Metal news

[world's largest nickel producer Norilsk nickel group nickel production increases 16% in the fourth quarter from a month earlier, 19 expected to produce 22-225000 tons of nickel] PJSC MMC Norilsk Nickel, the world's largest refined nickel and palladium producer, yesterday announced the fourth quarter and the whole of 2018 As a result of comprehensive production, It also reiterated the production prospect for the whole of 2019. 2018Q4 and full-year production: in the fourth quarter of 2018, combined nickel production rose 16 per cent from a year earlier to 62000 tons, almost all of which was produced from Russian raw materials. The increase was due to the expansion of Kola MMC production capacity and the increase in nickel concentrate production sold to third parties. In 2018, comprehensive nickel production rose 1 per cent from a year earlier to 219000 tons. "View detail

Brazil's Minas Gerais state civil defense department reported on the evening of the 30th that after the sixth day of search and rescue operations, the dam break accident in the state has been confirmed to have killed 99 people and 259 people are still missing. Minas Gerais state of an iron ore waste mine dam 25 dam break accident, the mine dam belongs to Brazil's Vale do Rio Doce. After the dam broke, the mud went down the river, destroying a large number of buildings along the way. "View detail

[China's gold output of 401.119 tons ranked first in the world for 12 consecutive years] according to the latest statistics of the China Gold Association, in 2018, the domestic gold output was 401.119 tons, ranking first in the world for 12 consecutive years, compared with the same period last year. Production was reduced by 25.023 tons, down 5.87 per cent from a year earlier. Among them, the gold mineral gold is 345.973 tons, and the non-ferrous raw materials produce 55.146 tons of gold. In 2018, the country's actual gold consumption was 1151.43 tons, ranking first in the world for six consecutive years, an increase of 5.73 per cent over the same period last year. "View detail

Macro market

[China's official manufacturing industry announced in January that it was below the withered line for the second month in a row.] China's official manufacturing PMI in January was 49.5, expected to be 49.3, compared with a previous value of 49.4, the second month in a row below the withered line. China's official non-manufacturing PMI in January was 54.7, expected to be 53.8, compared with a previous value of 53.8. After the release of the data, the Australian dollar / US dollar rose slightly in the short term. In January 2019, China's manufacturing purchasing managers' index rebounded, while the non-manufacturing business activity index rose for the second month in a row, and the increase was expanded, among which the service business activity index rebounded significantly. The composite PMI output index rose modestly, surpassing its high in the fourth quarter of last year. "View detail

[the yuan's midpoint rose 318 points onshore to its highest level since July last year] the yuan's midpoint against the dollar was at 6.7025, its highest level since July 19 last year. The onshore renminbi opened above 6.7, the highest level since last month. Overnight, the Fed sent the strongest signal to suspend interest rate hikes. "View detail

Terminal market

[ten departments and six "gift bags" promote car consumption in 2019 the car market is expected to relax] on January 28, Ten departments, such as the National Development and Reform Commission and the Ministry of Industry and Information Technology, issued the implementation Plan for further optimizing supply, promoting steady growth of consumption and promoting the formation of a strong domestic Market (2019), making it clear that more measures should be taken to promote automobile consumption at the same time. "View detail

[U.S. housing sales are weak: the leading indicator fell for three months to its lowest level since 2014.] data released Wednesday by the National Association of Realtors showed that Pending sales of completed homes in December (pending home sales, refers to sales of existing homes that have signed contracts but have not yet been completed), down 2.2 per cent from a year earlier. Economists had previously forecast an increase of 0.5 per cent, according to a Thomson Reuters survey. Pending sales are a forward-looking indicator of existing home sales over the next month or two, the third straight month of decline and the lowest level since April 2014. "View detail

[Hainan Province's first expressway new energy vehicle exchange power station opens] recently, Hainan Provincial Traffic Investment Holdings Co., Ltd. and Shanghai Weilai Automobile Co., Ltd. in Hainan Province, the first highway new energy vehicle exchange power station built in cooperation with Shanghai Weilai Automobile Co., Ltd. in the Maple Service area of Hainan Middle Line Expressway has been put into operation. New energy vehicles can replace fully charged batteries in three minutes, even if they take more than 10 minutes to repair. "View detail

[Geely responds to acquisition rumors: no such plan, no contact or negotiation] there have been recent reports in the Italian media that Geely is interested in acquiring Fiat's (FCA) Alfa Romeo and Maserati brands. Geely officials responded: in order to clarify the facts and avoid the spread of false reports, Zhejiang Geely holding Group hereby announces that the company has no plans to acquire the brand, nor has it carried out any business contacts or negotiations related to it.

Related market

[Bureau of Statistics: in the near future, the construction industry is expected to continue to maintain a steady expansion] the construction industry sentiment fell back at a high level. The business activity index, at 60.9%, continues to be in the high economic range, but is down 1.7 percentage points from the previous month, indicating that the growth rate of construction production has slowed due to factors such as the low winter weather and the concentration of employees returning home near the Spring Festival. In terms of market demand, the index of new orders in the construction industry is 55.8%, down 0.7 percentage points from the previous month, but it is in a higher economic range continuously. The market demand is generally stable, and the construction industry is expected to continue to expand smoothly in the near future. "View detail

[GMP plans to deploy 6MW/24MWh battery energy storage system project] it was reported a few days ago, Vermont utility Green Mountain Power (GMP) plans to add three total installed capacity to grid operations for 14.4MW solar power facilities and 6MW/24MWh battery storage systems to reduce regional transmission costs. The Vermont Public Utilities Commission (PUC) approved the first solar + energy storage project on January 16, the smallest of the three. The project, deployed in Essex, Vermont, is expected to cost about $14.3 million to develop and interconnect. "View detail

[in 2019, the integration of the photovoltaic industry accelerated the second highest in the history of new installations last year.] the shock wave brought about by the "531" weaning policy led the photovoltaic industry to hand over the second highest report card in the history of new installations in 2018. On the other hand, the enterprises in the industrial chain are "mixed with joys and sorrows". In 2019, the National Energy Administration will carry out "two-track management" of the photovoltaic industry according to whether subsidies are needed. In principle, projects that need state subsidies should adopt market-oriented competition to determine construction projects and subsidy standards, and relevant policies will be introduced as soon as possible. Although the industry is optimistic about the overall domestic market situation this year, the new installed capacity is expected to be in 35GW to 45GW, foreign installed capacity is also blooming everywhere, but the overall demand or the emergence of "cold and hot" situation, integration will speed up. "View detail

[Su Xin Energy 4 billion square coal to natural gas project has been postponed] recently, Su New Energy and Feng Co., Ltd. (hereinafter referred to as "Su New Energy") issued a message that it was approved by the National Development and Reform Commission. The company's demonstration project with an annual production capacity of 4 billion cubic meters of coal to natural gas has been extended for one year. "View detail

"Click to view details

Key Words:  Copper  aluminum  lead  zinc  tin  nickel