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[SMM Steel Morning News] Evergrande resumes work on all 1023 projects, and iron ore may be due to a reduction in supply.
May 22,2020 06:41CST
Source:SMM steel
The content below was translated by Tencent automatically for reference.

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"rising factors

1. Morgans said iron ore prices may rise by US $120 due to low supply in Brazil.

Morgans Financial Ltd. As global supply fails to keep pace with resilient consumption, iron ore prices could test $120 a tonne, analyst Adrian Prendergast said in a report. The report said Brazil's weekly iron ore exports were significantly below guidance, with a new round of government restrictions and outbreaks dragging down Vale's export capacity.

2. Xu Jiayin: 780000 people have returned to work for all 1023 projects in Evergrande.

Xu Jiayin, a member of the CPPCC National Committee and chairman of the Evergrande Group, said in an interview that since Evergrande resumed work on March 1, no one has been infected with the new crown. "Evergrande has a total of 1023 projects and more than 780000 people need to return to work. We began to resume work and production on March 1. By the end of March, we had resumed work on 896 projects, with the number of people returning to work reaching 687000 and the rate of resuming work reaching 88.2%.

3. Ministry of Transport: the investment in railway, highway, waterway and civil aviation increased by 18.2% in April compared with the same period last year.

According to the Ministry of Transport, the investment in railway, highway and waterway civil aviation reached 299.9 billion yuan in April, an increase of 18.2% over the same period last year. Efforts will be made to broaden the channels of transportation investment and financing, solve financial difficulties, give priority to supporting and supporting key areas and major projects, and take more measures to raise construction funds to ensure actual results, so as to provide strong support for the country's economic operation, social and livelihood employment, and so on.

4. The market continues to heat up and the Federation expects retail sales to grow in May compared with the same period last year.

According to the dealer survey, the manufacturer aims to grow by 6% in May compared with the same period last year. Combined with the overall market share of about 80% of the survey sample size in 2019, it can be initially launched that the retail market for narrow passenger cars this month is about 1.64 million vehicles, an increase of about 4% over the same period last year. The market is expected to recover further this month, with retail sales expected to see positive growth for the first time since June last year.

5. Chongqing: conditional opening of cinemas, KTV and all kinds of conferences and exhibitions

On May 21, Chongqing proposed that in the prevention and control of key places, according to the relevant epidemic prevention and control technical guidelines of the state and Chongqing, under the premise of implementing prevention and control measures: fully open shopping malls, supermarkets, hotels, restaurants and other living places; Open parks, tourist attractions, sports venues, libraries, museums, art galleries and other indoor venues, as well as swimming pools, cinemas, KTV, Internet cafes and other entertainment and leisure places; catering places to resume holding banquets; open all kinds of meetings and exhibition activities.

Downside factor

1. The inventory of primary and second-hand houses in Hangzhou is approaching 230000 units.

As of May 20 this year, the stock of new commercial housing in Hangzhou is 110472. This figure is 28502 more than the inventory of 81970 units in the same period last year. At the same time, transparent sales network shows that as of May 21, Hangzhou second-hand housing inventory of 117714 units, is approaching the 120000 mark. The inventory of first and second-hand houses in Hangzhou has approached 230000 units.

2. Jilin Province urgent notice: people who have been to Jilin City after April 1 need to be quarantined.

On May 21, the Xinguan Prevention and Control headquarters of Jilin Province issued a notice that personnel who have been to the Jilin City area since April 1 will be managed in strict accordance with the risk level. Returnees in high-risk areas were quarantined for 14 days + home isolation for 7 days, while returnees in medium-risk areas were quarantined at home for 14 days. People who have been released from quarantine and returned to the territory for 21 days to return to work and school must hold a negative report of nucleic acid test within 48 hours.

3. Iranian Ministry of Health: 10,000 health care workers in Iran have been infected with the new crown virus.

According to Iran's semi-official labor news agency (ILNA) on May 21, Iranian Deputy Minister of Health Qassam Yamba (Qassem Janbabai) said that about 10, 000 health care workers in Iran have been infected with the new crown virus, some of whom have unfortunately died.

4. There are 5609 new confirmed cases of new crown pneumonia in India, totaling more than 110000.

According to the latest data released on the official website of the Ministry of Health of India, as of the morning of May 21, local time, the number of confirmed cases of new crown pneumonia in India has risen to 112359, with a total of 3435 deaths. In the past 24 hours, there have been 5609 new confirmed cases in India, the largest increase in new cases in a single day, and 132 new deaths.

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