[SMM Metal Breakfast] Metal plummets, US Dollar rises sharply, Copper Cable operating rate falls sharply in February * Sea Freight soars Nickel Mine prices rise significantly

[overnight market] Shanghai copper, Shanghai tin led a drop of more than 3%. The metal plummeted sharply, and the dollar rose nearly 91 gold fell by more than 2%.

[macro outlook] pay attention to the manufacturing PMI data of various countries and the annual rate of CPI in Germany

On Friday, the outer disk metal tumbled across the board, with Lun Copper down nearly 4.4%, Lunzn Zinc down nearly 3.8%, Len Aluminum down nearly 3.5%, Lenny Nickel down nearly 3.4%, Lunxi down nearly 6.6%, Len lead down nearly 4.2%. The price of (LME) copper on the London Metal Exchange fell on Friday after hitting multi-year highs for several consecutive days, as risk aversion appeared in the broader financial markets after a sharp rise in bond yields. Other base metals such as aluminium and nickel were also hit, with a sharp fall in global bond markets leading to a sharp rise in yields, dragging Asian stock markets to their biggest decline in nine months. On the domestic side, international copper fell nearly 3.7%, Shanghai copper fell nearly 3.2%, Shanghai aluminum fell nearly 1.9%, Shanghai lead fell nearly 2.9%, Shanghai zinc fell nearly 2.7%, Shanghai nickel nearly 2.8%, Shanghai tin fell close to in3.3%.

The dollar outperformed all other Gmur10 currencies on Friday, its best weekly performance in nearly six weeks, with US bond yields falling sharply but remaining near year-high levels. The dollar was also supported by stops and month-end cash flows in the afternoon in the US, a New York trader said. The dollar index rose 0.78% to 90.91, its highest level in a week. Data released on Friday showed that US consumer spending rose at its fastest pace in seven months in January, but inflation remained moderate.

U. S. stocks closed mixed on Friday, with a rebound in technology stocks pushing the Nasdaq higher. All three major indexes of U. S. stocks fell in the last week of February, but all recorded gains in February. The recent surge in US bond yields has led some investors to worry that the Fed may be forced to cut QE or raise interest rates earlier. The personal consumption expenditure index shows that inflationary pressures are moderating. The Dow closed down 469.64 points, or 1.50%, at 30932.37; the Nasdaq rose 72.91 points, or 0.56%, at 13192.34; and the S & P 500 fell 18.19 points, or 0.48%, at 3811.15.

On Friday, the Shanghai Composite Index fell 2.12% to 3509.08 points, with a turnover of 424.486 billion. The Shenzhen Composite Index closed at 14507.45 points, down 2.17%, with a turnover of 482.35 billion. The gem index closed at 2914.11 points, down 2.12%, with a turnover of 163.884 billion. The total turnover of the two cities is 906.836 billion. In February, the Prev index rose 0.7%, while the gem index fell 6.8%, wiping out all gains since January. On the plate, February main line hype mainly around the cycle, non-ferrous, chemical, banking and other plates rose in turn.

LME inventory

[the tariff Commission of the State Council publishes the extension list of the third exclusion of tariff commodities levied on the United States and Canada] with the approval of the State Council, the tariff Commission of the State Council publishes the extension list of the third exclusion of tariff commodities levied on the United States and Canada, and extends the exclusion period for 65 items in the "notice of the tariff Commission of the State Council on the first exclusion list of the second batch of tariffs levied on the United States" (tax Commission Bulletin (2020) No. 3), From February 28, 2021 to September 16, 2021, we will continue not to impose the tariffs I imposed to counter the measures taken by the United States 301.

Macro focus

[general Administration of Customs: comprehensively promoting technical preparations for the implementation of RCEP rules of origin and tariff concessions] according to the General Administration of Customs on the 28th, technical preparations for the implementation of (RCEP) rules of origin and tariff concessions, a regional comprehensive economic partnership agreement, are being promoted in an all-round way. At present, the formulation of Chinese proposals such as the reversion of the standards of origin and the guidelines for the implementation of rules of origin have been completed, and will actively promote the RCEP parties to reach a consensus as soon as possible. The RCEP origin management information system, including functions such as export visa and application of agreed tax rates, is stepping up preparations for system adjustment. In the newly drafted supporting regulations, the measures for the Administration of approved exporters plan to launch the consultation process in the near future.

CSRC: reply to the proposal on further promoting the high-quality development of Science and Technology Innovation Board in China. The launch of Tilo transaction is a systematic project, which belongs to a major adjustment of the basic system of the capital market, which has high requirements for the risk control ability of intermediary institutions, and requires further policy research and institutional preparation. We will adhere to the principle of seeking progress in the midst of stability, and conduct in-depth study and demonstration of the feasibility and implementation path of the Tread0 transaction.

Securities Regulatory Commission: since 2021, IPO has maintained normal issuance, neither tightening nor loosening. As of February 19, the CSRC has approved or agreed to register 66 enterprises with a large increase in the number of IPO, while there has been little change compared with the previous month. At present, the queuing phenomenon of IPO declaration enterprises is different from the problem of "dammed lake" in history. at present, the focus of the market is that IPO is not normalized and the expectation is not clear. In recent years, the CSRC has scientifically and reasonably maintained the normalization of IPO. At present, the average cycle of examination and registration of Science and Technology Innovation Board and gem has been greatly reduced to more than 5 months.

[Haitong Macro: the United States will keep US Treasury interest rates up in response to the strongest inflationary pressure since 2008] Haitong Macro Liang Zhonghua and others believe that the current five-year inflation expectation in the United States has risen to 2.34%, the highest level since May 11. Once the prevention and control of the epidemic improves, this round of economic and inflation repair in the United States will be much faster than any previous economic cycle. Us inflation may rise to more than 3 per cent from the second quarter and then hover at high levels. Inflationary pressure in the United States is likely to be the biggest since 2008, and this round of Fed easing will exit much faster than it did during the financial crisis. Us bond interest rates may maintain the upward direction, and the dollar index also has the momentum to rebound, which has a greater impact on the global financial markets.

[the US House of Representatives voted to approve a $1.9 trillion economic rescue plan] in the early morning of February 27th local time, the US House of Representatives voted to pass a new $1.9 trillion economic rescue plan. The new $1.9 trillion economic rescue plan, proposed by US President Joe Biden, aims to provide financial support to American families and businesses affected by novel coronavirus's epidemic. This includes a $1400 grant directly to eligible Americans and $400 a week in unemployment benefits for the eligible unemployed.

[us media: the SEC may re-evaluate the listing criteria for low-priced stocks] according to media reports, the SEC may soon re-evaluate the listing criteria of major exchanges, or block the listing of speculative penny stocks on Nasdaq and the New York Stock Exchange (stocks with a share price of less than $5). According to the SEC, "these [penny stocks] have little or no returns and are highly speculative." As many as 1000 stocks on the combined New York Stock Exchange and Nasdaq list meet the SEC definition of pennies. In the wake of Robinhood's retail trading frenzy, the SEC took note of the listing policy of such stocks.

[Biden on US air strikes warning Iran to be careful] in response to media questions about what signal the US air strikes in eastern Syria sent to Iran, US President Biden replied on the 26th that the signal sent by the United States was to warn Iran to "be careful." According to Iranian media reports, earlier in the day, the Iranian Foreign Ministry issued a statement strongly condemning the US air strikes, saying that it was an act of aggression, violated international law and undermined the stability of the regional situation. The US Defense Department said in a statement on the 25th that the US military launched air strikes against Iranian-backed militia targets in eastern Syria on the same day, destroying a number of facilities.

Today's focus

[SMM interprets the mystery of the copper market] just two weeks after the turbulent year of the Boxer Rat, global capital markets have experienced a roller coaster trend, in which commodities represented by copper are obviously favored by capital. After the return of the Spring Festival, Shanghai copper directly jumped high, and even rose by the limit on Monday, but under the pressure of rising US bond yields after breaking through the 70000 yuan / ton mark on Thursday, the global capital market ushered in Black Friday, and copper prices also fell last night, returning to below 67000 yuan / ton. "View details

SMM analysis: high copper prices during the Spring Festival holiday fell sharply in February! According to a survey conducted by SMM, the operating rate of wire and cable enterprises in February 2021 was 41.91%, a decrease of 32.91% from the previous month, and an increase of 7.23% over the same period last year. Among them, the operating rate of large enterprises is 45.26%, that of medium-sized enterprises is 28.76%, and that of small enterprises is 32.63%. The operating rate of wire and cable enterprises is expected to be 68.72% in March. "View details

[SMM analysis: strong post-festival aluminum price uplink electrician round aluminum rod processing fee quotation for strong aluminum cable enterprises to start work is worrying] after the festival, supported by macro, poor storage and other favorable support, domestic aluminum prices have risen sharply. As of now, the average price of SMM East China A00 closed at 17270 yuan / ton, up 1500 yuan / ton compared with before the festival (2.10 days), an increase of 9.5%. After the festival, domestic aluminum cable enterprises have returned to work one after another, under the background of the growing demand for stock, but encountered a sharp rise in aluminum prices and aluminum rod processing fees relentless firm quotation, the enthusiasm of resuming work has declined. "View details

[SMM analysis: why is the aluminum plate and strip market so hot with full delivery time? Overall, the hot market of the aluminum plate and strip industry is likely to continue throughout the first half of 2021. First, at present, most large enterprises have accumulated a backlog of orders until April, it is difficult to fully recover from the short-term overseas epidemic in external demand, and domestic demand for automobile consumption is still weak. Second, the release of new capacity will take time, most of which will not be released until 2-3 months later. "View details

[SMM aluminum downstream weekly survey: aluminum processing enterprises return to work quickly after the festival is expected to return to the normal level before the festival next week] the operating rate of primary aluminum alloy in the first week after the festival is stable than that before the festival, and the inventory of the factory has not increased during the Spring Festival. After the festival, the downstream aluminum wheel factory resumes production and is expected to resume work before the Spring Festival next week. However, due to the high aluminum price this week, it is difficult to accept downstream, some decided to postpone procurement, only to maintain rigid demand inventory. It is expected that next week some primary aluminum alloy enterprises will slightly increase the start-up load due to the resumption of orders. "View details

[SMM Aluminum Accessories Weekly Review] after the festival, the domestic pre-baked anode market maintained stable operation, the cost side increased significantly, the profits of pre-baked anode enterprises narrowed, and SMM kept the quotation unchanged during the week. near the end of the month, the new round of aluminum plant bidding price is about to fall to the ground, and the prebaked anode market is strongly supported by costs. the price may continue to rise in March and is expected to increase by 150,200 yuan / ton. After the festival, the domestic aluminum fluoride market operates steadily, the low-load supply of aluminum fluoride manufacturers is dominated during the Spring Festival, the overall turnover of the industry is light, the bidding price of large aluminum plants has not yet landed, the industry inventory drags the market up substantially, SMM maintains the quotation unchanged, and is expected to maintain stable operation in the later period. "View details

[aluminum bar spot daily review: aluminum bar processing fee to maintain yesterday's low price downstream few goods] Today (February 26) domestic aluminum bar mainstream market processing fee to maintain yesterday's low price, although today's base price fell nearly 300 yuan / ton, but the absolute price of aluminum bar is still high, downstream receiving mood is low, the holder more to maintain yesterday's low price, some holders anxious to dump goods have a discount deal. "View details

The recent strong aluminum price has fallen back today, falling 290 yuan / ton, and the recycled aluminum price has also fallen slightly. [aluminum prices have fallen slightly.] the recent strong aluminum prices have fallen somewhat today, falling 290 yuan / ton, and recycled aluminum prices have also fallen slightly. Domestic prices, domestic large recycled aluminum enterprises quoted a reduction of 100 yuan / ton, currently at 17600-18100 yuan / ton; small and medium-sized plants, also dropped 100 yuan / ton to 17300-17500 yuan / ton. In terms of import and export, the transaction price of ADC12 rose 100 yuan / ton to around 17700 yuan / ton, and the import real-time window loss reduced to 200 yuan / ton. Export prices have been raised to US $2400 per ton. Today, although the price of recycled aluminum has fallen somewhat, it is still at a high level. The quotations of recycled aluminum enterprises have decreased, and the mood of receiving goods downstream has been relatively weak. At present, there is still a strong demand for procurement, with few transactions in the market. It is expected that the price of recycled aluminum may continue to be adjusted at a high level. "View details

[February 26th SMM aluminum rod processing fee market: aluminum prices rose slightly.] overall domestic aluminum rod processing fees have been raised by different degrees, with a national weighted average of about 356 yuan / ton, up 97 yuan / ton from yesterday. Today's SMM East China aluminum average price recorded 17270 yuan / ton, which is lower than that of yesterday. Aluminum prices are high during the week, although there is a slight correction in aluminum prices today. Today, the shipments of aluminum rod enterprises have warmed up, and the fear of heights in downstream cable enterprises is still there. Large factories need to purchase steel mainly, small enterprises mainly produce raw materials inventory, and cable factories do not sign linkage contracts. The risk is greater, or in order to avoid risks in the later stage, the enthusiasm of taking orders is not high. "View details

[current aluminum afternoon review] in the morning, Shanghai Aluminum increased the concussion in that month, and the spot transaction discount in East China showed an expansion situation. On the one hand, there was a strong wait-and-see mood in the downstream purchasing. Although the futures aluminum price was partially withdrawn, it was still higher than the downstream purchasing psychological price. On the other hand, although the middleman is active in receiving the goods, the shippers are still relatively conservative, and the overall market transaction is not active, resulting in the spot transaction absolute price to the futures discount 100-60 yuan / ton. In the short term, the upstream and downstream markets are digesting the rise, the two sides show a stalemate, aluminum prices are expected to stabilize, trading activity may pick up. "View details

According to SMM, as of Friday, the total inventory of lead ingots in the five places reached 46700 tons, up 3300 tons from last Thursday, and 2100 tons from Monday. [SMM research: the initial demand for lead ingots in the lower reaches remains unchanged.] according to SMM, as of Friday, the total inventory of lead ingots in the five places reached 46700 tons, up 3300 tons from last Thursday. According to research, most lead battery enterprises have initially resumed work this week, but lead prices have risen strongly and broke through the Wanliu pass, and downstream enterprises are afraid of high and cautious adoption; the widening of the current price difference in the same period has led to an increase in the intention of some delivery brands to deliver positions, and the social inventory of lead ingots continues to increase. "View details

[SMM survey: February production schedule and March resumption plan of some lead-zinc mines in 2021-continuous follow-up and update] (SMM) survey of SMM shows that the mines stopped production in February 2021, and a small number of small mines maintained normal production during the Spring Festival. The first batch of mines resumed mining at the beginning of March, and it is expected that a certain production and freight cycle will be needed for the lead-zinc concentrate products to enter the market after the completion of mining, so the tight supply of domestic lead-zinc concentrate may continue until the middle of March. "View details

[SMM research: lead battery enterprises are starting work one after another and resuming work faster than in previous years] according to SMM research, the weekly comprehensive operating rate of lead battery enterprises in the five provinces of SMM this week (February 22-February 26) was 68.46%, down 2.3% from the previous week (February 5), but significantly higher than last week (February 19). In addition, due to the sample adjustment, the production capacity of Zhejiang Jujiang and Zhejiang Tieying has increased, while Zhejiang Xinli has been eliminated due to the suspension of production. "View details

[SMM Seven zinc ingots social inventory increased by 37600 tons compared with last Thursday] according to SMM, as of Friday, the total SMM zinc ingot inventory was 262100 tons, an increase of 9700 tons over Monday and 37600 tons over last Thursday. Downstream production continues to resume, some factories are still mainly to digest the inventory of finished products, the overall demand is still limited. Smelters continue to arrive, especially when zinc prices rise, some smelters will export inventory in the plant area, and there is still a large increase in the weekly ratio of domestic inventory. On the whole, the original inventory in Shanghai, Guangdong and Tianjin increased by 37900 tons, while the inventory in seven places across the country increased by 37600 tons. "View details

[SMM analysis: macro maintaining loose consumption can boost zinc prices] positive news continued to come out from overseas this week. Federal Reserve Chairman Powell played down the risk of inflation and economic overheating, and said that the US market still has a long time to go before recovery, which also shows that the Fed has a high tolerance for inflation, the discharge of water will continue, and is expected to maintain loose monetary policy. Next week, we need to watch the progress of the 1.9 trillion stimulus bill in the United States. In addition, as of Friday, the 0-3 liter discount for LME zinc fell further to US $11.25 / dry ton, and lme inventory was 19550 tons higher than before the festival, indicating that overseas consumption is gradually recovering. On the whole, the macro-loose environment and fundamentals are expected to resonate, supporting the strong trend of Lun Zinc. "View details

[laterite Nickel Trading Weekly Review: soaring Sea Freight Nickel prices obviously will continue to rise next week] Nickel mine inventories in all ports across the country fell 614000 tons to 7.259 million wet tons on February 26 compared with last week, with a total metal volume of 57200 tons, a decrease of 4800 nickel tons compared with February 18. Among them, the inventory of the country's seven largest ports was 5.896 million tons, a decrease of 374000 tons compared with February 18. Port nickel mine inventory dropped to a new low in nearly three years, nickel ore market tension gradually highlighted, nickel ore FOB quotations and sea freight increased significantly after the festival, especially sea freight, the sharp rise in raw material prices made downstream procurement cautious, the rainy season superimposed high mineral prices, nickel ore market activity is poor, short-term port inventory still continues to decline. "View details

[SMM survey: are post-holiday zinc prices and steel high pressure zinc downstream orders in line with expectations before the year ago? This week, galvanizing enterprises have resumed work and production one after another. under the influence of the policy of "local New year", large factories have quickly returned to full production, small and medium-sized enterprises are more affected by the return of employees to their hometown, and some employees have to return to work after the 15th day of the first lunar month. The operating rate ranges from 30% to 75%. Enterprise orders have increased, but the overall increment is not as expected, mainly due to high prices of black steel and zinc ingots, higher enterprise costs, less resumption of stack terminals, drag down order increments, and most enterprises mainly focus on finished goods inventory. "View details

[note: prices of several rare earth products soared 130000 per ton in a single day] recently, rare earth prices have continued to strengthen. As of today, the average daily price of SMM praseodymium neodymium oxide was 555000 yuan / ton, up 147500 yuan this year, or 36.2%. Other varieties also continued to rise sharply, with SMM ferroalloy alone rising 130000 yuan / ton today to 2730000 yuan / ton. As of recent SMM research, rare earth spot products continue to rise, the prices of many products have been raised, enquiries are active, and transaction prices have also risen. At present, the willingness of shippers to ship goods is low, and it is generally believed that the rising trend can continue. "View details

[chromite Weekly Review: downstream prices break through upstream chrome ore coming from behind] as of Friday (2U26), the spot price of Tianjin Port South Africa 40-42% chromium concentrate was 30-33 yuan / tonnage, which was 1 yuan / tonnage higher than that before the festival, and the lowest turnover within the week was 30 yuan / tonnage; 38-40% raw ore quoted 34 yuan / tonnage, which was basically the same as last week; Turkey 46-48% chromium concentrate quoted 41 yuan / tonnage, which was the same as last week. Zimbabwe 48-50% chromium concentrate spot 38-39 yuan / tonnage, up 1 yuan / tonnage compared with last week. "View details

[SMM Cobalt Lithium spot Weekly report (0222-0226): material price transmission pressure Cobalt Lithium price rise slows] Cobalt raw material inventory tension lasts for a long time, domestic and foreign prices rise, smelter costs increase, smelter inventory low continues, if the demand side is not expected to decline sharply, cobalt prices continue to rise, the rise slows down. Lithium, post-holiday lithium market inquiry frequently, downstream of the second quarter of the raw material inventory is still spare, so some are in a wait-and-see state. There is still no obvious volume on the supply side, it is understood that the current market raw material lock volume does not lock the price, the spot market supply will be tight until the transaction price will continue to rise in early March. "View details

[SMM magnesium spot Weekly Review] as of Feb. 26, the mainstream quotation of 999 magnesium ingots in Fugu area was 15300-15400 yuan / ton, the mainstream transaction price was 15350 yuan / ton, and the mainstream ex-factory price of 95B magnesium ingots was 15600-15800 yuan / ton. The mainstream transaction price in Wenxi area is 15600-15800 yuan / ton; the mainstream transaction price of 95B magnesium ingot is 16000-16200 yuan / ton, and the mainstream market price of magnesium ingot is stable around 15350 / ton.

Important news of metals and industry

[Wanfang Development: increase capital and purchase a total of 40% equity of Ding Industrial University] Wanfang Development announcement, the company intends to buy a total of 36.47% equity of Ding Industrial University with a total of 62 million yuan. After the completion of the transaction, the company holds a total of 40% equity of Ding Industrial University, becoming the largest shareholder of Ding Industrial University, and plans to increase capital to Ding Industrial University with RMB 10 million yuan. Zhuanding University of Technology is a high-tech enterprise integrating scientific research, production, sales and service. Since its establishment, it has been committed to the development, industrialization and large-scale promotion of new electronic packaging materials and products such as high-silicon aluminum alloy and gradient high-silicon aluminum alloy.

[announcement on the promulgation of the Aluminum Futures contract of the Shanghai Futures Exchange (revised version)] the Shanghai Futures Exchange issued an announcement on February 26, 2021: the aluminum futures contract of the Shanghai Futures Exchange (revised version) was examined and approved by the Council of the Shanghai Futures Exchange. It has been reported to the China Securities Regulatory Commission and is hereby issued. From February 26th, 2021, standard warehouse receipt delivery of remelted aluminum ingots produced in accordance with GB/T 1196-2017 will be allowed. As of May 26, 2021, aluminum ingots for remelting produced in accordance with GB/T 1196-2008 shall not be made into standard warehouse receipts, and the standard warehouse receipts that have been made can continue to be used for performance delivery of futures contracts. The English text can be found on the official English website for reference only. In case of inconsistency with the Chinese text, the Chinese text shall prevail.

[weak aviation demand Arconic2020 fourth quarter aluminum sales fell 14%] on February 23, Okonink (Arconic) CEO Timothy Donald Myers said that despite strong end demand in the industrial and packaging sectors in 2020, it was not enough to fully make up for the weak shipments in the aviation sector. Aluminum sales fell 14% year-on-year to $1.5 billion in the fourth quarter.

[national Power Investment Aluminum Power Qingtong Gorge Branch Reform and profit growth of 283% compared with the same period last year] the State Power Investment Aluminum Power Qingtong Gorge Branch revolves around the "2035 Strategy" of the Group and the work deployment of Aluminium Power Co., focusing on the two major systems of "JYKJ" and "SDSJ", it is determined to reform and crack down on key problems, from accumulated losses of several billion yuan to profits of 65 million yuan in 2019, and then achieve profits of 249 million yuan in 2020, two major steps in three years. Business performance to achieve a historic breakthrough, Phoenix Nirvana, reborn in the fire, cast off the hat of zombie enterprises, and embarked on the fast road of high-quality development.

[Brazil makes preliminary anti-dumping against Chinese aluminum products] on February 24, 2021, the Brazilian Foreign Trade Secretary issued notice No. 13 of 2021 in the Federal Government Gazette, saying that a preliminary anti-dumping ruling was made on aluminum products originating in China [: produtos laminados de aluminum í nio (chapas, tiras e folhas)]. It was ruled that the dumping margin of the products involved in the case was 59.17%, but it was not recommended to impose temporary anti-dumping duties on the products involved in the case. The products involved in this case do not include aluminum-plastic composite panels. The tax codes of the products involved are 7606.11.90, 7606.12.90, 7606.91.00, 7606.92.00, 7607.11.90 and 7607.19.90.

[Rio Tinto achieved strong net profit of US $9.8 billion in 2020] according to the results released a few days ago, the company's basic profit in 2020 was US $12.4 billion, with a net profit of US $9.8 billion, an increase of 20% and 22% respectively over 2019. The full-year dividend was $9 billion, or 557 cents per share, accounting for 72% of the underlying profit.

[Shanxi alumina enterprises increase the purchase price of liquid alkali in March] according to SMM, the unit price of liquid alkali used in Shanxi alumina was increased by 150 yuan / ton (100%) in March, and 1590 yuan / ton (100%) was sent to Xiaoyi Prefecture.

[Ningshun recycled aluminum profile project has been put into production] A few days ago, located in Fuxin New material Industry Development Zone, the recycled aluminum profile project invested by Liaoning Ningshun Resources Comprehensive Utilization and Development Co., Ltd. was officially ignited and put into production. In Liaoning Ningshun Resources Comprehensive Utilization and Development Co., Ltd., we saw that mountains of raw materials were stacked in the courtyard, busy workers were shuttling back and forth in the huge factory building, and the hot energy-saving aluminum melting furnace melted large chunks of aluminum waste quickly, forming a certain depth of melt in the molten pool, which was molded into silver-shining aluminum ingots through the process. "View details

[Xinjiang Zhonghe: the company's Guinea project has been completed and the preliminary work such as engineering design is under way] some investors have asked Zhonghe in Xinjiang. On December 2, 18, your company announced that it intends to set up a wholly-owned Hong Kong subsidiary and the proposed strategic investors to jointly invest in the establishment of a Dubai joint venture to acquire the Guinean bauxite project. The company replied that the reply is as follows: (1) the company has completed the filing of the Guinean project and is currently carrying out preliminary work such as engineering design; (2) the project is a new project, the main construction content is plant and machinery and equipment, and the amount of investment in the project has nothing to do with the aluminum price; (3) the recent alumina price has not risen greatly, the price is relatively stable, and the company normally carries out aluminum hedging and other business. Thank you for your attention. "View details

[Fitch: revise aluminum price forecast for 2021 from US $1650 / tonne to US $1950 / tonne] Fitch: revise copper price forecast for 2021 from US $6000 / tonne to US $7200 / tonne. The price of aluminum is expected to rise from $1650 / ton to $1950 / tonne in 2021. The price of nickel in 2021 is expected to be revised up from US $13250 / t to US $15000 / tonne. The 2021 zinc price (21530,-75.00,-0.35%) is expected to be revised from US $2100 / ton to US $2500 / ton. "View details

[Jiuquan Iron and Steel Co., Ltd. successfully developed aluminum alloy cold-rolled strip for electroplating] "at the beginning of the New year, customers signed an annual order with a stable supply of 300 tons per month." At the production site of Dongxing Aluminum Tiancheng Color Aluminum Co., Ltd., looking at the busy production scene, Li Yanqin, vice minister of the Technology Research and Development Department, is full of confidence. In October 2020, Jiuquan Iron and Steel Co., Ltd. successfully developed and produced aluminum alloy cold-rolled strip for electroplating represented by 1-series alloy. with the advantages of good customer feedback and low cost, the products quickly became popular after going offline. Up to now, 1200 tons have been successfully produced. "View details

[Zeng Yuqun: Ningde era has launched carbon Neutralization Planning in an all-round way] on the eve of the two sessions in 2021, Zeng Yuqun, member of the CPPCC National Committee and chairman of Ningde Times New Energy Technology Co., Ltd., submitted two proposals. they are "proposal on speeding up the construction of a new infrastructure for electrochemical energy storage to support the implementation of the national 3060 strategic goal" and "proposal on strengthening the protection of intellectual property rights for lithium batteries". At the same time, the Ningde era has also launched the carbon neutralization program in an all-round way.

[Shanghai Silicon Industry performance KuaiBao: 2020 profit 87.07 million yuan year-on-year turnround] Shanghai Silicon Industry (688126) released its results on the evening of February 26. KuaiBao's operating income in 2020 was 1.811 billion yuan, an increase of 21.36 percent over the same period last year, and realized net profit of 87.0708 million yuan, reversing losses compared with the same period last year. Basic earnings per share is 0.04 yuan. During the reporting period, the net profit changed from loss to profit, mainly due to the fact that the company's subsidiary Shanghai Xinyi Semiconductor Technology Co., Ltd. participated in investing in Juyuan Core Star as a limited partner. Juyuan Core Star subscribed for SMIC's initial public offering of shares in Science and Technology Innovation Board as a strategic investor, and the company recognized a total fair value change profit and loss of 170 million yuan during the reporting period.

[Longji announced the price of wafers in March for the second time this month] Longji released a price announcement for wafers in March, which is the second time that Longji has raised the price of wafers in the past month. According to the announcement, 182mm rose 0.39 yuan per piece to 4.44 yuan, up 9.6% to 166mm, up 0.3 yuan to 3.65 yuan, and 9% to 158mm.

[cross-border aluminum and magnesium industry of Baowu Group for lightweight] the domestic non-ferrous metals industry, which has been relatively calm in recent years, has suddenly become lively due to the involvement of China Baowu Iron and Steel Group Co., Ltd. (hereinafter referred to as "Baowu Group"). Usually two separate industries began to have more overlap, Baowu Group from ferrous metals cross-border to non-ferrous metals, especially in the aluminum and magnesium industry's massive expansion has attracted attention both inside and outside the industry. What kind of chess is Baowu Group playing? Whether we can see the clue. "View details

After the Spring Festival holiday, the daily output of hot metal in the General ironmaking Plant of Maanshan Iron and Steel Co., Ltd. reached 42026, 42299, 42108 and 42058 tons in four consecutive days, breaking through 42000 tons in a row, creating another record level and achieving a new breakthrough in production in the New year, laying a solid foundation for achieving the annual output of 15 million tons of hot metal of the same caliber. Among them, after stabilizing the utilization coefficient of 2.70, the 3200m3 blast furnace gradually stood at 2.75, and Nissan stabilized 8800 tons. While achieving a breakthrough and reaching the first-class level of the same type of blast furnace in China, it also provided a huge support for the total plant Nissan to set a record. "View details

[six measures in Inner Mongolia to comprehensively strengthen the management of mineral resources] in view of the shortcomings and risk points in the management of mineral resources, Inner Mongolia has formulated six measures to strengthen the management of mineral resources in an all-round way. To scientifically formulate the overall plan for mineral resources of the autonomous region. Make comprehensive arrangements for the exploration, development, utilization and protection of all kinds of mineral resources in the autonomous region, strive to coordinate and solve major issues such as resource security, protection, development and utilization, and clarify layout arrangements and access requirements, as an important basis for examining, approving, supervising and managing the exploration, development, utilization and protection of mineral resources in accordance with the law. "View details

[Vale: EBITDA for the fourth quarter of 2020 increased by $2.879 billion from $9.103 billion] Vale today released its financial results for the fourth quarter of 2020. Vale said that all iron ore mines suspended in 2019 will restart some operations in the fourth quarter of 2020, which is an important milestone in achieving the capacity target of 400m tons by the end of 2022. Ferrous metals performed strongly, with real prices up 17 per cent and sales up 26 per cent, which had a positive impact on EBITDA of $1.598 billion and $1.364 billion, respectively. "View details

[global crude steel production increased 4.8 per cent year on year in January 2021] according to the World Iron and Steel Association, crude steel production in 64 countries / regions in January 2021 was 162.9 million tons, an increase of 4.8 per cent over the same period last year. Of this total, China's crude steel production in December was 90.2 million tons, up 6.8 per cent from a year earlier.

During the 13th five-year Plan period, the total energy consumption and GDP unit consumption of Wulanchabu City increased significantly. After the Development and Reform Commission of the Autonomous region interviewed the energy conservation work in 2020, the municipal party committee and municipal government attached great importance to it and held many special meetings to study and deploy the work of double control of energy consumption. It is also required to resolutely win this battle in accordance with the requirements of the target task of double control of energy consumption in Wulanchabu City in 2021.

[ST double ring: the prices of leading products soda ash and ammonium chloride have risen significantly recently] ST double ring issued a stock price change announcement, and the prices of the company's leading products soda ash and ammonium chloride have risen significantly recently. After verification, the company, the controlling shareholder and the actual controller do not have significant matters about the company that should be disclosed but not disclosed, or that are in the planning stage.

[open-pit coal industry: net profit of 2.313 billion yuan in 2020 fell 6.23% compared with the same period last year] the open-pit coal industry today announced its annual results KuaiBao, with total operating income of about 20.074 billion yuan in 2020, an increase of 4.8% over the same period last year. Net profit belonging to shareholders of listed companies is about 2.313 billion yuan, down 6.23% from the same period last year; basic earnings per share is 1.20 yuan, down 6.25% from the same period last year.

Terminal information

[relevant departments and bureaus of the Ministry of Natural Resources: increase supply of residential land in key cities fully disclose information] measures of centralized land supply have been implemented in relevant cities concerned by the recent online media. The head of the Department of Natural Resources Development and Utilization of the Ministry of Natural Resources said that the Ministry of Natural Resources firmly adheres to the positioning of "houses are used for living, not for speculation" and the decision and deployment of "stabilizing land prices, stabilizing housing prices, and stabilizing expectations" on the basis of past work. Constantly improve work measures. This year, all localities are required to make progress in centralizing the information on the transfer of residential land in a reasonable and appropriate manner, and key cities should make centralized announcements and centralized supply of residential land, so that all kinds of market entities and consumers can fully grasp the information and form reasonable expectations.

[Ministry of Industry and Information Technology: supporting enterprises to continuously enhance the supply capacity of integrated circuits and strengthen supply chain construction] in response to the problem of tight supply of automotive chips, Qiao Yueshan, director of the Electronic Information Department of the Ministry of Industry and Information Technology, said that the Electronic Information Department of the Ministry of Industry and Information Technology and the first Department of equipment Industry have guided China's automotive chip industry innovation strategic alliance to compile and issue the Automotive Semiconductor supply and demand docking Manual. The Ministry of Industry and Information Technology will support enterprises to continuously improve the supply capacity of integrated circuits, strengthen the construction of supply chain, and increase the allocation of production capacity. The manual contains 568 products from 59 semiconductor enterprises, covering 10 categories, such as computing chips, control chips, power chips, etc., as well as 1000 pieces of product demand information from 26 automobile and parts enterprises.

[power Battery] on the evening of February 25, Ningde Times announced that time SAIC Power Battery Co., Ltd., a subsidiary of the company, plans to invest in the expansion project of SAIC power battery production line in Zhongguancun High-tech Zone, Liyang City, Jiangsu Province, with a total investment of no more than 10.5 billion yuan.

[Musk: lithium production We worry most about nickel so we use iron-lithium batteries] on Thursday, local time, Elon Musk (Elon Musk), CEO of electric car maker Tesla, tweeted on Twitter that the company will replace some of the ternary lithium-ion batteries in electric cars with iron-lithium batteries. "Nickel is our biggest concern in lithium battery production," Musk said in a tweet. That's why we need to replace the standard mileage version of electric cars with iron lithium batteries. Lithium batteries rich in iron! "

[Toyota hydrogen fuel cell system to be sold] Toyota announced on the 26th that its fuel cell system that generates electricity through hydrogen will be sold from the spring of 2021. To match the new "MIRAI" of the fuel cell car (FCV), Toyota has improved the fuel cell to integrate miniaturized parts into a system that makes it easy for outside manufacturers to use. The promotion targets are manufacturers of railways, ships and power generation equipment.

[Riying Electronics: plans to invest 1.005 billion yuan to build 5G intelligent auto parts manufacturing project] Riying Electronics announced that the company intends to invest 1.005 billion yuan to build 5G intelligent auto parts manufacturing project. The production capacity of 250000 sets of 5G intelligent network-connected driving assistance system, 2 million sets of automobile intelligent washing system, 5 million sets of automobile sensor system, 20 million sets of automotive high-speed data transmission harness and 125 million pieces of other precision injection molding parts have been increased.