[SMM Metal Breakfast] Outer disk metal is generally rising * Shanghai nickel is expected to maintain a rising trend * steel prices may continue to be under pressure

[overnight quotation] Outer disk metal Pu Shenglun lead rose 1.1%, stable oil price fell more than 2%.

[macro outlook] Today, focus on China's September trade account

The article tells you, what other metal industry summits are worth visiting in 2020?

[notice] "lead" calls for "storage" to set sail, the renewable lead battery summit will be held soon!

Today's focus

[SMM: scrap copper rod order is not as good as pre-festival price deviating from disk surface] according to SMM's understanding, the recent order performance of downstream scrap copper rod factory is not good, which is not as good as pre-festival performance. Today, the price of scrap copper rod in Jiangxi deviates from the disk surface, not increasing but falling. On the whole, the consumption of scrap copper rod is poor and the price of raw materials is high, which affects the profit level of enterprises. "View details

[SMM data: inventory small overload domestic electrolytic aluminum social inventory slightly increased by 14000 tons to 729000 tons compared with October 9] October 12, inventory continued to be tired. SMM statistics domestic electrolytic aluminum social inventory of 729000 tons, an increase of 14000 tons over October 12. "View details

[SMM: terminal car consumption good scrap aluminum price rises another 100,200 yuan / ton] the current ADC12 and A00 aluminum price gap has narrowed, but the short-term A00 aluminum still has room to rise, in this context, strong demand for automobile consumption will drive raw aluminum prices up, there is still room. "View details

[SMM data: SMM seven zinc ingots social inventory increased by 10, 000 tons compared with last Friday] according to SMM, as of Monday, the total inventory of SMM seven zinc ingots was 159000 tons, an increase of 10000 tons over last Friday, and 29500 tons more than before the festival. "View details

[SMM Review: macro sentiment is key to help Shanghai Nickel is expected to maintain its rally] SMM expects more traders to return this week, and macro sentiment remains the key to the rebound height of the nickel market while the fundamental direction has not changed. A new round of US stimulus package is still expected to be renegotiated, and Shanghai Nickel will continue to rise if inflation expectations keep the US index low. This week, Lunni is expected to be 14800-15500 US dollars / ton and Shanghai Nickel 115000-120000 US dollars / ton. "View details

[SMM data: Silicon enterprises resume production increase in September large factories resume operation in October or hit new highs] profit stimulation, lifting of production restrictions, and impending production reduction in the south are the combined effects of increased start-up of Xinjiang silicon plants. All three large factories have plans to increase production in October, while some medium-sized silicon factories also plan to increase their operating load in October. The specific increase in production is not clear due to the restrictions on the supply of raw material silica, but it can be predicted that the national operating rate may reach the highest for the whole year in October, and will remain at a high level in November, and it is expected that the operating rate will rise to around 52% in October. "View details

[SMM: inquiry abundant silicon factory quotation raised] Silicon prices were basically stable yesterday, and there were few market transactions at the beginning of the week, but most silicon factories offered relatively strong quotations, and some low-grade specifications were slightly higher than before the National Day holiday. There is not much production time left in the Yunnan Sichuan Silicon Plant, and some of them have begun to reserve inventory in the dry season, so the quotation is higher than the current actual transaction level. Silicon factories in other regions are in no danger of short-term shipments, and some orders for low-grade silicon are scheduled until the end of this month. In the short term, the firm quotation of silicon factories is expected to continue.

[SMM analysis: India's gold imports fell 38% in September, but the market continues to be bullish on late-stage gold prices.] overall, although India is the world's second-largest gold consumer and gold consumption has fallen sharply, historical data show that gold prices will not change significantly due to flagging demand. India's gold imports have been shrinking since March, but strong investment demand for gold has offset the decline in demand for physical gold. The gold market fell first and then rose last week, back above $1920 an ounce. In the later stage, he mainly focused on the impact of the American election. Industry insiders believe that the market is increasingly expected to win the Democratic Party of the United States, which is a more positive situation for gold. Because the dollar will weaken further, it means that there is stronger support for the gold price, and some institutions even say that the gold price may return to the $2000 mark soon. "View details

SMM Steel: Tangshan heating season 2020 production restrictions relaxed year-on-year follow-up steel prices may continue to be under pressure! According to SMM estimates in strict accordance with the documents, the total impact of autumn and winter production restrictions on pig iron from 2020 to 2021 is 9.595 million tons (excluding relocation from the city), which is significantly lower than that of autumn and winter production restrictions from 2019 to 2020. At the same time, in terms of actual implementation, the implementation of environmental protection production restrictions in steel mills last year was less than 50%. So far this year, it is understood that the production limit of steel mills is still based on the documents issued during the double-section period, and the new production limit policy for the heating season has not yet been formally implemented. In view of this, in the short term, the impact of production restriction in heating season on steel output in Tangshan area is relatively limited, and the boost in mentality is more significant. "View details

[SMM mechanical terminal demand report: excavator production and sales continue to break out mechanical steel needs to be strong] excavators, heavy trucks and other construction machinery production and sales continue to break out, steel needs to be eye-catching. And the overall machinery industry, according to SMM Iron and Steel downstream PMI survey data, in September 2020, the machinery industry PMI composite index 52.23, up 3.55 month-on-month, down 0.22 from the same period last year. After the quarterly adjustment, the composite index was 49.54, down 0.51 from the previous month, down 0.01 from the same period last year. In September, the overall performance of the machinery industry picked up, new infrastructure supported domestic demand, export orders continued to increase and production accelerated. The purchase and inventory of raw materials increase with the decline in the price of raw materials. According to SMM research, orders in the machinery industry as a whole rose steadily in September compared with August, and the overall industry boom remained at a high level, and employees in the industry had a positive attitude towards the future. As infrastructure projects continue to expand, the construction machinery market is expected to continue to get a boost. With the renewal demand driven by superimposed life and environmental factors, the machinery industry is expected to maintain excellent performance by the end of 2020. "View details

SMM special topic: national policy vigorously promotes automobile consumption and the sales of whole car enterprises in September are eye-catching! On the whole, under the background of the "Golden Nine Silver Ten" consumption season, many car companies have performed prominently, and their production and sales have increased compared with the previous month. With the gradual recovery of automobile production and marketing, the stock price trend of the automobile sector is also relatively strong. I believe that the domestic automobile market has great potential in the future, and the superimposed countries will continue to introduce various policies conducive to expanding domestic demand. the demand for cars in second-and third-tier cities and rural markets is increasing, and it is expected that China's automobile consumption market will further expand. "View details

Important news of metals and industry

[the Chilean government expects mining investment of US $74 billion over the next 10 years to come mainly from copper projects] Chile's largest copper exporter, the Chilean Copper Commission (Cochilco), recently said that Chilean mining investment is expected to reach US $74 billion in the next 10 years, mainly from the copper industry. The investment mainly comes from Antofagasta (Antofagasta Plc) and Lunding Mining company (Lundin Mining Corp.) , Tektronix Resources Co., Ltd. (Teck Resources Ltd.) And gold rose gold company (KinrossGold) and other top global mining companies. However, the agency pointed out that 23 projects worth US $44 billion have been postponed due to the novel coronavirus epidemic. Mining minister Baldo Prokurica said copper accounts for 89.4% of the country's total investment, and he is optimistic about the upcoming large-scale investment.

[Mirado Copper Mine ushered in the resumption of production] A few days ago, the Mirado Copper Mine, which had been suspended for several months due to the epidemic, fully resumed production. On the first day of resuming production, the ore handling capacity of the concentrator reached 23891 tons.

[Suotong Development and Sichuan Yuheng jointly build an annual output of 350000 tons of aluminum carbon material project] Suotong Development notice signed a "letter of intent for Investment Cooperation" with Sichuan Yuheng Industrial Co., Ltd., and jointly established Sichuan Suotong Yuheng carbon material Co., Ltd., with the newly established company as the main body of the project to build an annual output of 350000 tons of aluminum carbon materials project, the company plans to invest 216 million yuan, accounting for 60% of the registered capital of the joint venture company.

[Brazilian Aluminium Association: the imposition of tariffs by the United States on aluminum plates will hinder Brazilian exports.] the president of Brazilian aluminum association (ABAL) said that the US government's decision to raise taxes on aluminum plates from 18 countries, including Brazil, will hinder the export of Brazilian-related products. The U.S. Department of Commerce announced tariffs ranging from 49.48% to 136.78% on aluminum sheets imported from Brazil. At present, the tariff on Brazilian exports to the United States is 15%. The United States is the main export destination of Brazilian aluminum sheet, which exported 31500 tons of aluminum sheet to the United States last year. The Brazilian government and companies have submitted documents to the United States to prove that there is no dumping.

[Mingtai Aluminium: net profit increased by 2.43% in the first three quarters] Mingtai Aluminium issued a forecast of net profit of about 717 million yuan in the first three quarters, an increase of about 2.43% over the same period last year. During the reporting period, the company expanded the market share of superior products in subdivided areas, production and sales continued to maintain the growth momentum; increased R & D investment, developed new products according to market demand, and the overall gross profit margin continued to increase.

[Vale: Goro Nickel-Cobalt Mine in New Caledonia will be closed in 2021] Vale's chief financial officer, Luciano Siani Pires, said last Thursday that its nickel-cobalt mine in Goro, New Caledonia, would be closed in 2021. "View details

On October 1, 2020, the Mexican Ministry of Economic Affairs issued a notice in the official Gazette to make an anti-dumping final award on cold-rolled stainless steel plates originating in China and Taiwan (Spanish: productos planos de acero inoxidable laminados en Fr í o). "View details

[vanadium and titanium of Panzhihua Iron and Steel Co., Ltd.: the net profit of the third quarter of Panzhihua Iron and Steel Co., Ltd. is 47.67%, 57.19%. According to the announcement of Vanadium and Titanium of Panzhihua Iron and Steel Co., the company expects to achieve a net profit of 170 million yuan to 200 million yuan belonging to shareholders of listed companies in the first three quarters of 2020, down 85.82 Of this total, the net profit in the third quarter was 90 million yuan to 110 million yuan, down 47.67% from the same period last year. The decline in performance is mainly due to a large year-on-year decline in the market price of vanadium and titanium products during the reporting period, and deferred income tax assets should be written down by about 100 million yuan by the end of the reporting period.

[northern rare earths announced the listing prices of rare earth products in October, several product quotations were lowered] the listing prices of rare earth products in October were announced yesterday, and the prices of a number of products were reduced. In terms of price changes, the prices of lanthanum oxide and cerium oxide are the same as those of the previous period, while the quotation of praseodymium and neodymium oxide is 19000 yuan / ton lower than that of the previous period; the quotation of neodymium oxide is 19000 yuan / ton lower than that of the previous period; the quotation of metal praseodymium and neodymium is 23000 yuan / ton lower than that of the "View details

[10 consecutive months of net inflows of global gold ETF] on the 12th, the World Gold Council announced that as of the end of September, global gold ETF had seen a record net inflow for 10 consecutive months, similar to the continuous inflow trend in 2008 and 2016. Total gold ETF positions in Asia rose 6.8t in September, driven mainly by two newly listed Shanghai gold ETF in China, according to the World Gold Council.

[China Iron and Steel Association: average daily output of crude steel by key steel enterprises in late September is 2.1887 million tons] according to the statistics of China Iron and Steel Association, in late September 2020, iron and steel enterprises produced a total of 21.887 million tons of crude steel, 19.019 million tons of pig iron, 22.1523 million tons of steel and 3.4275 million tons of coke. Among them, the daily output of crude steel was 2.1887 million tons, up 2.01% from the previous month; the daily output of pig iron was 1.9019 million tons, up 0.33% from the previous month; and the daily output of steel was 2.2152 million tons, up 8.31% from the previous month. (affected by the ERP collection principle of Anshan Iron and Steel Group and the centralized storage of some enterprises at the end of the month, the output of steel in this decade has increased more than that in the previous ten days. Excluding these factors, the steel output in this ten-day period increased by 2.60% compared with the previous ten-day period. "View details

Macro focus

[Fang Xinghai: launching more futures and options based on the demand of physical enterprises] on October 12, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said in a speech at the listing ceremony of staple fiber futures that at present, there is still great uncertainty in the evolution of the global epidemic, the international environment is becoming more and more complex, commodity and various types of financial price fluctuations have intensified, and the need for real economy to manage risks has become increasingly prominent. "Zheng Shang should be guided by the demand of real enterprises, launch more varieties of futures and options, continuously expand the coverage of serving the real economy, adhere to bottom line thinking, strengthen pre-research and prediction, walk in front of the market risk curve, and ensure the sound operation of the market."

[Biden has a 10.6-point lead over Trump in the polls] Joe Biden averaged 52.3% in the polls on Oct. 12, compared with 41.7% for Donald Trump, according to RealClearPolitics data. Biden's approval rating rose 0.2 percentage points from 52.1% the day before. Trump fell 0.1 percentage points from 41.8% the day before.

[World Health Organization (WHO): 10 vaccines around the world have entered phase III clinical trials] World Health Organization (WHO) held COVID-19 's regular press conference on October 12 local time. Sumia Swaminathan, chief scientist of World Health Organization (WHO), said that the progress of novel coronavirus vaccine clinical trials around the world is encouraging. At present, about 40 vaccines are in clinical trials, and 10 of them have entered phase III clinical trials. Vaccine data are expected to be released as early as December this year and early next year, and a number of vaccine clinical trials are expected in the next 6 to 12 months.

[World Health Organization (WHO): due to the enhancement of detection capacity in many countries, the mortality rate of COVID-19 shows a downward trend] on October 12, local time, World Health Organization (WHO) held a regular press conference of COVID-19. Maria Van Kohof, technical director of World Health Organization (WHO) 's health emergency project, said that compared with the initial stage of the epidemic, COVID-19 's mortality rate has decreased in many countries, in part because of enhanced detection capacity. More testing and tracking of contacts can be done to detect more mild cases. In addition, the age of infected people has changed, and many infections occur in social occasions and places of entertainment, while young people have fewer basic diseases and develop into COVID-19 's critically ill patients than the elderly. Finally, we have done better in avoiding outbreaks in places for vulnerable groups such as sanatoriums, and have experience in treating COVID-19 patients.

Terminal information

Tesla CEO Musk tweeted: Tesla's production process, almost all the parts production is 75% automation. Only the harness and final assembly are mainly manual, which is less than 10% of the production cost.

[Trump plans to abolish some import tariff exemptions for solar panels and will raise tariffs next year] Trump signed a statement on Saturday (10 EST), stressing his support for the elimination of tariff cuts for some imported double-sided solar panels. it will also raise tariffs on imported solar panels from 15% to 18% in 2021. "View details

[carbon dioxide emissions regulations tightened European electric vehicle sales tripled] according to reports, European transport and environmental agency Transport & Environment expects that as carmakers introduce new electric models across Europe to meet emission rules, 1/10 of new cars sold in Europe this year will be pure electric or plug-in hybrid vehicles, and sales of electric vehicles will triple compared with last year. "View details

[Ministry of Industry and Information Technology: openly solicit opinions on the management measures for echelon utilization of power batteries of new energy vehicles] on October 10, in order to strengthen the management of echelon utilization of batteries of new energy vehicles, improve the level of comprehensive utilization of resources, and ensure the quality of products of echelon utilization of batteries, the Department of Energy Saving and Comprehensive Utilization of the Ministry of Industry and Information Technology organized and compiled the Management measures for echelon Utilization of batteries of New Energy vehicles and openly solicited opinions. "View details

[in September this year, Tesla Model 3 became the best-selling car in the Netherlands. Kia Niro EV ranked second.] according to news on October 11, electric carmaker Tesla's Model 3 became the best-selling model in the Netherlands in September. In September, the Model 3 sold 977 vehicles in the Netherlands, more than 200 more than the second-ranked Kia Niro EV (.