[SMM Metal Breakfast] Outer disk metal rose across the board, Lun copper rose by more than 2% * A list of the downstream resumption of work by various metal enterprises after the festival

[special topic on SMM] A list of the downstream resumption of work in various metal enterprises after the festival

[overnight quotation] the metal in the outer disk rose across the board, and Lun Copper rose more than 2%. The Dow hit an all-time high.

[macro outlook] pay attention to the number of initial claims for unemployment benefits in the United States in the week ended February 20

LME inventory

Macro focus

[who officials predict that the epidemic will end in early 2022] on February 24, World Health Organization (WHO) European Regional Affairs Director Krueger said he thought the novel coronavirus epidemic would end in early 2022. He thinks the epidemic will still be prevalent in 2021, but the situation is more manageable than in 2020. He points out that the worst is over. "We know more about the virus than we did in 2020." Krueger also said he was only making personal predictions and that no one could predict how the epidemic would develop.

[the United States has added more than 70, 000 new confirmed cases in a single day and accumulated more than 28.96 million cases] according to Worldometer real-time statistics, as of around 06:30 on February 25, there were a total of 28961905 confirmed cases of COVID-19 and a total of 517129 deaths in the United States. Compared with 06:30 the previous day, there were 78666 new confirmed cases and 2784 new deaths in the United States.

[Johnson vaccine is expected to be approved for emergency use by FDA this week] on Wednesday, local time, the US FDA disclosed a detailed analysis of Johnson's single-dose vaccine and said it met the standards for emergency use authorization (EUA). The effective rates of the vaccine 14 and 28 days after vaccination were 66.9% and 66.1%, respectively. On Friday, local time, the external expert committee will meet to review the reports of Johnson and FDA and make recommendations. According to the approval process of the first two vaccines, Johnson is expected to get EUA this week.

[this year's fiscal direct funds are expected to exceed 2 trillion yuan] on February 24, the reporter learned from local financial departments that relevant departments had recently issued relevant notices clarifying the scope of direct funds from the central government this year, covering 28 items of central-to-local transfer funds, such as basic pension transfer payments, county-level basic financial security mechanisms, rewards and subsidies, and so on. If calculated according to the budget data of central to local transfer payments in 2020, the size of the aforementioned direct funds is about 2.7 trillion yuan. Last year, the scale of direct funds from the central government was 1.7 trillion yuan. Compared with last year, the scale of direct funds this year increased by about 1 trillion yuan, an increase of nearly 60 percent over the same period last year. The total amount of direct funds at all levels in Shandong Province this year exceeded 150 billion yuan, more than double that of last year.

Today's focus

[SMM analysis: copper prices have risen 11 times in a row! How is the performance of copper downstream processing enterprises returning to work? Under the background of skyrocketing raw materials, what is the situation of copper processing enterprises returning to work? When will the consumption spring be ushered in? The SMM Copper Research Group brings you the latest market information report. "View details

SMM survey: how is the performance of downstream aluminum die-casting enterprises returning to work after the festival? SMM conducted a survey on the resumption of work of aluminum die-casting enterprises in various regions of the country, in order to see how downstream aluminum processing enterprises perform in the case of rising aluminum prices after the festival. "check the details.

[SMM analysis: how is the performance of the aluminum fluoride market after the domestic raw material market rising after the festival? After the Spring Festival, domestic non-ferrous metals and mainstream chemical products are rising rapidly, but the market price of aluminum fluoride has been operating steadily for a long time. Before the festival, some aluminum fluoride enterprises stop production and reduce load, the market after the festival is light, the enthusiasm of aluminum fluoride enterprises to return to work is not high, and the industry maintains low-load operation. So far, the average operating rate of the industry is about 45%. The market price of anhydrous aluminum fluoride is 8500-9300 yuan / ton. "check the details.

[SMM thread: the total inventory of Hangzhou thread rapid accumulation reached an all-time high during the Spring Festival] this week, Hangzhou thread inventory reached 1.118 million tons, up 52.5% from the previous month (February 5) + 385000 tons; Gregorian calendar + 180000 tons, an increase of 19.19%. Before and after the Spring Festival this year, the speed of thread accumulation in Hangzhou is faster than. "check the details.

[SMM hot rolling mill orders: steel mills take orders in March, the fire explosion weakens, can the peak season market arrive as scheduled? Near March, the acceptance of orders by major steel mills is drawing to a close. According to SMM tracking understanding, in the market for terminal demand is generally more optimistic expectations, the actual steel factory orders slightly less than expected. "View details

[SMM post-festival iron ore market analysis: the supply of both internal and external mines after the festival is reducing and the demand is recovering] the mines in Hebei Hanxing area generally stop production before the Spring Festival and generally resume production after the two sessions. According to SMM's understanding, the mines in Hanxing area have not resumed production for the time being, and basically they should resume production after the conclusion of the two sessions. "View details

[SMM analysis: January sales analysis of new energy passenger vehicles: January insurance volume dropped 50% month-on-month mainly due to epidemic situation and rush-buying behavior at the end of the year] according to the insurance data of new energy passenger vehicles, the number of new energy passenger vehicles insured in January was 146000, down 48.6% from the previous month and up 237% from the same period last year. After 20% of the subsidy for new energy vehicles was determined in 2021, the market snapped up at the end of December, and at the beginning of this year, countries that caused the epidemic advocated local New year celebrations, many consumers also reduced their desire to buy new cars in the New year. "View details

[SMM: silicon traders have different opinions in the future] electricity charges in Nujiang, Yunnan are pending in March, and it is expected that the silicon plant will resume production later than last year. Yunnan start-up enterprises are mainly concentrated in Baoshan, and a few silicon factories that still keep inventory after stopping production cherish the goods and are bullish on the future. On the other hand, some traders are worried that the demand will weaken after the concentrated release of foreign orders, and when the domestic downstream has not fully resumed work, their confidence in the rise in silicon prices is not as good as that of silicon factories. "View details

According to customs data, China imported 117.231 tons of antimony ingots in December 2020, an increase of 82.91 percent over the same period last year. China's exports of antimony ingots in December 2020 were 378.744 tons, down 69.93% from the same period last year. "View details

[SMM Antimony Import and Export tracking brief Review: China's antimony oxide imports and exports both fell in December 2020 compared with the same period last year] according to customs data, China's antimony oxide imports in December 2020 were 66.286 tons, down 26.87% from the same period last year. China's exports of antimony oxide in December 2020 were 3683.145 tons, down 8.51 per cent from a year earlier. "View details

Important news of metals and industry

[Zambian copper production is expected to continue to increase] Biya's Ministry of Mines said that the country will continue to increase copper production after 2021, and the global commodity market is expected to survive the novel coronavirus epidemic crisis, so miners will increase production as demand increases. Zambian copper production rose 10 per cent last year to 880000 tonnes and is expected to reach 900000 tonnes in 2021. Global copper prices have climbed to multi-year highs this year and the booming electric car industry is expected to support copper prices and help Zambia's pillar industries recover, according to Richard Musukwa, Zambia's mining minister.

[SMM: manufacturers have poor orders and fear of high scrap copper replenishment on demand] Copper prices have slowed down and adjusted slightly, leading to a drop in scrap copper prices in the afternoon, but orders such as scrap copper poles are not good, and manufacturers are still afraid of high raw materials, mainly replenishing on demand. On the whole, the scrap copper market is weak in both supply and demand, which is not active.

Tianshan Aluminum Industry: according to the research summary disclosed on February 24th, the company's electrolytic aluminum production capacity approved by the National Development and Reform Commission is 1.4 million tons / year, with a built capacity of 1.2 million tons / year and an annual production capacity of 200000 tons / year to be built. In the future, the company will decide the construction time and mode of the remaining 200000 tons / year capacity according to the production cost and profitability of electrolytic aluminum products. With regard to the construction progress of alumina and high purity aluminum projects, the company plans to build an alumina production line of 2.5 million tons / year in Jingxi City, Guangxi, which is divided into three phases. The first phase of 800000 tons / year has been completed and put into production. The second and third phases are planned to be put into production in October and December this year respectively, and the capacity release is expected to be completed in the past two years. The company plans to build 60, 000 tons / year high purity aluminum production line in Shihezi, Xinjiang. At present, it has built 20, 000 tons / year production capacity, and will build 15000 tons / year production capacity in the second half of the year, which is expected to start production by the end of the year.

[Mingxiang Aluminum first Phase 150000 tons of high-end industrial aluminum bar production] learned from the city industrial park management committee, as a key investment project of the land-enterprise joint venture of Jiayuguan City in 2020, Jiayuguan Mingxiang Aluminum Co., Ltd. put into production the 150000-ton high-end industrial aluminum bar project, and successfully put the first aluminum bar off the line. The completion and commissioning of the project will be conducive to Jiayuguan aluminum industry extension chain repair chain forging chain and capacity release, and lay a solid foundation for strong leader, repair chain and cluster. "View details

[Russian Norfolk suspends some operations at two mines due to groundwater inflows] Russian mining company Norilsk Nickel (Nornickel) said on Wednesday that it had suspended some of its operations at its Oktyabrsky and Taimyrsky mines in Siberia due to the detection of groundwater inflows. Nornickel, one of the world's largest nickel producers and the world's largest palladium producer, said in a statement that the company would assess the impact of partial shutdowns on its production guidance once the problem was resolved.

[Indonesian nickel mining market continues to recover and production and sales are expected to increase this year] recently, Meidy Katrin Lengkey, secretary general of the Indonesian Nickel Minerals Association (APNI), said that the recovery of covid-19 vaccine and vaccination will improve nickel production and sales performance this year. By 2020, APNI member companies recorded 40 million tonnes of nickel ore sales to smelters, accounting for about 40 per cent of last year's total work plan and budget (RKAB). Meidy said that nickel mining activity has begun to normalize, especially the recent rise in nickel prices. "of course, this will stimulate nickel miners to increase capacity or make the most of existing RKAB quotas." "View details

[iron miner Kumba plans to spend 3.6 billion rand to extend its Sishen mine operation until 2039] Kumba Iron Ore recently reported a 40% jump in annual profits and a strong dividend due to rising steelmaking raw material prices and a weak rand exchange rate during the year. Earlier, Kumba reported overall earnings per share of 71.07 rand ($4.86) for the year ended December 2020, up from 50.88 rand in the same period last year. "View details

[Valin Steel: cautiously optimistic about steel downstream demand this year] Valin Steel said in a survey conducted by an agency that the company as a whole remains cautiously optimistic about steel downstream demand in 2021. From the perspective of downstream industries, in the industrial sector, the demand for manufacturing, construction machinery, automotive home appliances and steel structure continues the economic trend in the fourth quarter of 2020, and is expected to maintain a good situation for a period of time in the future to provide support for the plate; the real estate demand downstream of long wood is expected to maintain a certain toughness; the oil and gas industry, one of the main downstream of seamless steel pipe, is still weak, but with the rise in oil prices, the demand in the field of oil and gas exploitation may bottom out and pick up. "View details

[Ningde Times and SK Innovation broke through to become the third batch of Hyundai E-GMP battery suppliers] it is reported that Hyundai Motor Group has just announced that it has selected SK Innovation and Ningde Times as battery suppliers for its E-GMP platform. The two Asian battery suppliers will provide the third batch of lithium-ion batteries for Hyundai electric vehicles that will be available after 2023. "View details

February 24th gold ETF position: SPDR gold position reduced 4.06t; February 25th gold ETFs data showed that the world's largest gold ETF-SPDR Gold Trust gold position as of February 24th 1106.36 tons, down 4.06t from the previous trading day.

Market news: Biden's supply chain directive requires agencies to conduct a 100-day evaluation. Biden asked for an assessment of rare earths, pharmaceuticals, chips and batteries.

Terminal information

[Tianjin adjusts the supervision mode of second-hand housing transaction funds] in order to further optimize the business environment of Tianjin and improve the efficiency of real estate registration, with the consent of the Tianjin Municipal people's Government, the Tianjin Municipal Commission of Urban and Rural Housing Construction issued a notice yesterday to adjust the supervision mode of funds for housing transactions in Tianjin. This adjustment makes it clear that the fund regulator only supervises its own trading funds, and the loan funds are paid by the lending bank to the seller's collection account in accordance with the agreement. When signing the Tianjin Stock Housing Sale and purchase Agreement, both sides of the stock housing transaction should choose whether or not to accept capital supervision services according to their own needs. Self-owned transaction funds refer to the down payment of all house prices or loan payments agreed upon in the Tianjin Stock Housing Sale and purchase Agreement.

(Tesla spent nearly $1.5 billion on research and development last year accounted for less than 5% of revenue.] according to foreign media reports, after a year-on-year decline in 2019, electric car maker Tesla's R & D spending was close to $1.5 billion in 2020. growth resumed year-on-year. According to the information disclosed by Tesla, their R & D spending will increase in 2020, largely due to a sharp increase in R & D spending in the fourth quarter compared with the previous quarter. According to the information disclosed by Tesla, their R & D spending will increase in 2020, largely due to a sharp increase in R & D spending in the fourth quarter compared with the previous quarter.

[Geely Li Shufu: integrating business with Volvo can achieve the best merger effect] Li Shufu, chairman of Geely holding Group, expressed support for the merger plan and cooperation consensus, and said, "at present, the global automobile industry is facing profound changes." we must seek open synergy, vertical and horizontal. " This time Geely and Volvo further integrate their businesses and establish a closer strategic synergy to achieve the best merger results. This will create two more powerful companies in the rapidly changing areas of automotive technology and travel services, create a new pattern of development, and continue to lead the industry.

In order to promote the construction of the National Ecological Civilization Experimental Zone, the General Office of the Hainan Provincial Government recently issued the Hainan Provincial Clean Energy vehicle Promotion 2021 Action Plan, proposing that the province plans to promote 25000 new energy vehicles in 2021. The action plan emphasizes that in addition to special-purpose vehicles, 100% of the newly added and replaced official vehicles used by party and government organs at all levels and state-owned enterprises and institutions throughout the province use new energy vehicles. In addition to retaining some emergency vehicles and new energy vehicles can not meet the demand, 100% of the new and replaced buses in the province use new energy vehicles.

[the number of electric vehicles in Britain is expected to overtake diesel cars in 2030] according to foreign media reports, a new study shows that the number of electric vehicles on British roads is expected to exceed diesel cars by 2030. However, the survey from the British media AA did not ask experts for advice, but sent out questionnaires to more than 12000 consumers to find out what they think of the British car market in 2030. "View details

Is the [important] tin price skyrocketing expected? SMM reports repeatedly prompt!

"[concern] Copper prices skyrocketed but not all of a sudden SMM has been predicted to help customers to operate accurately!

"[concern] the sharp rise in zinc prices SMM predicts in advance for enterprises to avoid risks!

"[concern] SMM Aluminum Industry chain Weekly escorts customers!