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[SMM Steel Morning News] the new special debt reached an all-time high this week.
May 26,2020 08:55CST
The content below was translated by Tencent automatically for reference.


Tuesday, 26 May 2020

News breakfast

"rising factors

1. Ministry of Industry and Information Technology: the OEM of new energy vehicles will be liberalized in an orderly manner.

Miao Wei, minister of industry and information technology, said that the contract manufacturing of new energy vehicles will be liberalized in an orderly manner, local governments will be encouraged to make more use of new energy vehicles in public services, and the construction of recharging infrastructure will continue to be strengthened. Miao Wei pointed out that in April, the production capacity of new energy vehicles has basically reached the level of the same period last year, and is full of confidence in the future development.

2. The Environmental Protection Department of Shanxi Province held a task scheduling meeting for the decisive battle of the Blue Sky Defense War.

On 22 May, the decisive Battle Command of the Blue Sky Defense Battle of Shanxi Province convened a task scheduling meeting for the decisive battle of the Blue Sky Defense Battle, which was held by six relevant provincial departments and bureaus to analyze the current situation, make arrangements for the next step in attacking key tasks, and demand the implementation of five key tasks, and resolutely win the Blue Sky Defense War. The meeting pointed out that new progress should be made in promoting the optimization, adjustment, transformation and upgrading of the industrial structure. Step up the promotion of the task of industrial structure adjustment represented by reducing coking excess capacity, strengthen the support work for "scattered pollution" enterprises, and achieve non-dispersion, chaos and pollution through classified disposal and standardized guidance. High standards will promote the transformation of ultra-low emissions in the iron and steel industry and implement differentiated management and control requirements.

3. 562.7 billion special bonds hit this week, and the scale of issuance reached an all-time high.

According to Wind data, the issuance of new special bonds (all new special bonds below, excluding refinancing special bonds) will reach 562.7 billion this week, an all-time high. The last weekly offering peaked in the third week of January (448.3 billion), and this week will be 114.4 billion higher than the previous peak. The data also show that the total amount of special bonds issued and to be issued this month will reach 949.969 billion, basically fulfilling the target of 1 trillion yuan for the whole month. From January to May, the scale of special bond issuance reached 2.1 trillion. According to the size of 3.75 trillion yuan for the whole year, there are still 1.65 trillion special bonds to be issued.

4. The financing interest rate of real estate enterprises continues to decline.

Recently, the financing rate of real estate enterprises has continued to decline, and financing rates of about 2% can be found everywhere. Housing enterprises with low interest rate financing include not only large state-owned enterprises and central enterprises, but also small and medium-sized private housing enterprises. In terms of overseas financing, unlike the disappearance in April, a small number of real estate companies have gradually resumed overseas financing since May, and the recent overseas financing interest rate is about 5%.

Downside factor

1. The second "Dragon Boat Water" hit Guangdong to launch level IV emergency response to flood control.

According to the forecast of the meteorological department, the second "Dragon Boat Water" will occur in Guangdong Province from 25th to 26th, with torrential rain in northern Guangdong and Pearl River Delta cities and counties, torrential rain in some cities and counties, heavy rain to torrential rain in eastern Guangdong, moderate to heavy rain in cities and counties in western Guangdong, and local rainstorm. During thunderstorms, some cities and counties are accompanied by short-term winds of magnitude 7 ~ 9.

The rainfall has the characteristics of "high overlap of falling areas, strong local rain and high risk of secondary disasters". The affected areas have a high risk of urban and rural waterlogging, mountain torrents, geological disasters and floods in small and medium-sized rivers.

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