[SMM Metal Breakfast] Metal general rise * March basic metal production data released * medium-and long-term coil prices are still expected to rise

"blockbuster metal industry conferences are packed with bosses.

Most of the outer plate metals rose yesterday, Len aluminum, zinc and nickel were all up more than 1 per cent, and Ren copper was back above $9000. Aluminum, SMM data show that yesterday's aluminum ingot inventory continued to warehouse 23000 tons in line with the market's optimistic expectations for consumption, aluminum prices continue to maintain high shocks.

The dollar index fell to a two-week low after data showed that an unexpected rise in initial jobless claims in the US last week weighed on the dollar; the yield on 10-year Treasuries fell 5 basis points to 1.62 per cent in late trading, as yields reduced the relative attractiveness of the dollar.

All three major indexes of US stocks closed higher, with the Dow Jones index up 57.31 points, or 0.17%, at 33503.57; the S & P 500 index closed up 17.22 points, or 0.42%, at 4097.17; and the Nasdaq composite index closed up 140.47 points, or 1.03%, at 13829.31.

In crude oil, oil prices were little changed on Thursday, with a fall in the dollar and a rise in the stock market offsetting earlier losses caused by a sharp increase in U.S. gasoline inventories and weak demand before the pandemic. Mixed signs of economic recovery put pressure on benchmark crude oil.

In precious metals, the weak dollar helped gold hit a five-week high, with spot gold rising more than $20 at one point, its highest level since March 1. Yields on the dollar and Treasuries are falling, which is the key catalyst for now. Rather lacklustre unemployment benefits data are also helping to push gold prices higher.

Yesterday, the internal index fluctuated weakly in the afternoon, with individual stocks falling, up more than 9% and less than 60 stocks, with a sharp differentiation in the market and a high rate of explosion. On the plate, the back row stocks of hot topics receded across the board, carbon neutralization and shipping led the decline, Silver Star Energy, Yueneng Holdings and other high bid plate out of the sky and earth board, near the end of the day, Titan shares, Anyang Iron and Steel, and a large number of individual stocks fried board, the market loss effect increased greatly, overflow funds flowed into medical, food and beverage, liquor and other clustered stocks, the concept of medical beauty rose sharply in the afternoon, and steel, non-ferrous, assisted reproduction and other plates rotated to pull up. On the disk, medical, steel, non-ferrous and other plates led the rise, while electricity, carbon neutralization, shipping and other plates led the decline. As of the close, the Prev index rose 0.09% to close at 3482 points; Shenzhen rose 0.08% to close at 13989 points; and the gem index rose 0.70% to close at 2826 points. The net outflow of Shanghai shares is 1.315 billion, while that of Shenzhen stocks is 388 million.

LME inventory

Macro focus

[Ministry of Finance and State Administration of Taxation: 100% addition and deduction of Enterprise R & D expenses before tax] the Ministry of Finance and the State Administration of Taxation issued a notice on further improving the policy of pre-tax addition and deduction of R & D expenses, in order to further encourage enterprises to increase R & D investment, support scientific and technological innovation, in terms of pre-tax addition and deduction of enterprise R & D expenses, the actual R & D expenses incurred by manufacturing enterprises in R & D activities are stipulated. If the intangible assets are not included in the profits and losses of the current period, they shall be deducted before tax according to 100% of the actual amount from January 1, 2021 on the basis of the actual deduction according to the relevant provisions. If an intangible asset is formed, it shall be amortized before tax according to 200% of the cost of the intangible asset as of January 1, 2021.

[Liu Kun: BRICS should strengthen macroeconomic policy coordination and collaboration within a multilateral framework] on April 6, 2021, the first meeting of finance ministers and central bank governors since India took over the presidency of the BRICS was held by video. Liu Kun said that the global economy is recovering, but the growth outlook is still uneven and unstable. The BRICS countries should strengthen macroeconomic policy coordination and cooperation under the multilateral framework, deepen practical cooperation in the areas of anti-epidemic and finance, contribute to global anti-epidemic action, promote economic recovery and sustainable growth, and enhance the voice of BRICS countries in the global economic governance system.

(local state-owned enterprises need to submit debt risk monitoring statements on time and the proportion of sustainable debt to net assets shall not exceed 40%). It has been learned from a number of local state-owned personnel that after the State-owned assets Supervision and Administration Commission of the State Council issued the guidance on strengthening the debt risk Control of Local State-owned Enterprises, it also issued the Circular on reporting the debt risk Control of Local State-owned Enterprises. We have studied and formulated monitoring reports on debt risk and bond risk of local state-owned enterprises. According to the regulatory requirements, the "ratio of equity sustainable debt to net assets" is the proportion of domestic and overseas sustainable debt to net assets, which in principle does not exceed 40%.

[Ministry of Finance: strengthening counter-cyclical regulation and stabilizing economic growth] Assistant Minister of Finance ou Wenhan said that efforts will be made to strengthen fiscal regulation and achieve the unity of counter-cyclical, cross-cyclical and expected management. We will continue to give full play to the role of fiscal regulation and control, strengthen counter-cyclical regulation, and stabilize economic growth. We will strengthen the management of medium-term financial planning, improve the mechanism of cross-annual budget balance, and achieve cross-cycle adjustment. Give full play to the guiding role of fiscal policy on expectations.

Us consumer credit surged $27.6 billion in February, the highest monthly increase since November 2017; the figure was about 10 times higher than the expected increase of $2.8 billion and the biggest on record.

Today's focus

[recycled copper daily review: noon plate pulls up recycled copper rod manufacturers to ship goods] Guangdong bright copper excluding tax cash self-withdrawing price is 59700-60000 yuan / ton, the same as the previous trading day, the fine waste price difference is 2286 yuan / ton, expanding 168yuan. The price of bright copper followed by a drop of 200-300, but it began to rise at noon, with recycled copper rod manufacturers shipping at a competitive price and continued to rise along with copper prices, while orders still showed general performance. "check the details."

[SMM data: the average daily output of alumina decreased slightly in March compared with the previous month and expected to rise slightly in April] according to SMM data, China produced 6.282 million tons of alumina in March (31 days), including 6.072 million tons of metallurgical grade alumina and 195900 tons of metallurgical grade daily output, which decreased by 2.89% and increased by 11.75% compared with the same period last year. Metallurgical grade alumina output in the first quarter was 17.316 million tons, an increase of 7.12% over the same period last year. The impact of the heating season in northern China continued in March, and some individual manufacturers chose to overhaul. "check the details."

[SMM analysis: the comprehensive operating rate of the aluminum cable industry rebounded to 38.83% in March] according to SMM survey statistics: according to SMM survey statistics, the domestic comprehensive operating rate of aluminum cable rebounded to 38.8% in March, up 12.2% from February and 4.8% year on year in 2020. The high aluminum price fluctuated during the month, restraining the cable orders and terminal demand of some small and medium-sized enterprises. At the end of March and the beginning of April, the delivery time of some national network orders was approaching, forcing enterprises to produce. At present, the industry is still in the predicament of poor profits, especially for enterprises with insufficient stock before the year, most of the orders signed before the year are delivered at a loss. A new round of bidding projects have been launched one after another. "check the details."

[SMM data: the pace of new growth of electrolytic aluminum is expected to be flat in April compared with March] according to SMM data, China produced 3.346 million tons of electrolytic aluminum in March 2021 (31 days), an increase of 10.20% over the same period last year. In terms of volume reduction, affected by the "double control" policy in Inner Mongolia in March, a total of 7 electrolytic aluminum plants in the region were overhauled or reduced in advance, and the planned and reduced production involved an annual production capacity of about 310000 tons. In terms of increment, the operating capacity of individual electrolytic aluminum plants in southwest China continued to rise. on the whole, as of the beginning of April, the annual operating capacity of electrolytic aluminum nationwide was 39.44 million tons, which was 240000 tons lower than that at the beginning of March. The scale of effective built capacity is 43.59 million tons / year. "check the details.

[SMM survey: national production of recycled lead increased faster than expected in March after the festival.] National output of recycled lead in March 2021 was 334800 tons, up 53.79% from the previous month and 194.23% over the same period last year. "check the details.

[SMM data: electrolytic lead production increased by 12.17% month-on-month in March after the festival.] in March 2021, China produced 280900 tons of electrolytic lead, up 12.17% from the previous month and 17.23% from the same period last year. From January to March in 2021, production increased by 11.57% compared with the same period last year. The total production capacity of the enterprises involved in the survey in 2021 is 5.481 million tons. "check the details."

SMM analysis: when will the inflection point of traditional off-season and environmental overhaul come? On the consumer side, April coincides with the traditional off-season of lead batteries, and lead consumption is expected to continue to weaken and lead purchases will decline. On the whole, there was a weak situation of supply and demand in April, lead prices fluctuated weakly, strategically suggested selling high and absorbing low in the short term, making long-term bargains, waiting for the follow-up (third quarter) peak season to stimulate price elasticity to rise. "check the details.

[SMM Analysis: what is the global zinc supply this year when the long-term agreement price is lower than market expectations? (with 2021 ingot end balance sheet)] according to SMM, Tektronix Resources and South Korea Gloria lead reached an agreement on the annual supply of zinc concentrate in 2021, and the final Benchmark processing fee for zinc concentrate was US $159USD / dry ton, a decrease of US $140.5 / dry ton compared with 2020. By 2022, overseas mines are expected to break away from the epidemic and fully return to normal production. The global mining side will enter a period of substantial surplus, with a surplus of 558300 metal tons. "check the details.

[SMM survey: analysis of the production status of galvanized enterprises combined with the characteristics of cold and hot rolled coil market] Steel prices have been rising after the Spring Festival in 2021, and the cold and hot rolled coil market is generally in a concussive upstream channel. According to the average price of 5.5mm hot-rolled coil: SS400/Q235: including tax, the price reached 5524.8 yuan / ton as of April 2, and the production cost of downstream galvanizing enterprises increased significantly. According to SMM, the cost of steel accounts for about 95% of the cost of the whole galvanizing enterprise, while the cost of zinc ingot only accounts for about 5% of the total cost. The steel market has a great influence on the orders of galvanized enterprises. For this reason, SMM leads you to briefly understand the characteristics of the hot rolled coil market in the near future: hot and cold rolled coiled plates, as the direct upstream of galvanizing enterprises, the price soars after the year. The fundamentals show that the effective demand of the downstream terminal is improving, the supply side is declining, and so on. "check the details."

[SMM research: refined tin production increased 20% in March compared with the same period last year] according to SMM research, domestic refined tin production in March was 14436 tons, an increase of 22.04% over the previous month, and 20.30% year-on-year increase of 20.30%. The cumulative output from January to March increased by 39.11% over the same period last year. The average operating rate of the survey sample is 63.45%. Some production enterprises that stopped production during the Spring Festival holiday resumed production in March and their output increased accordingly, but some enterprises cut production or stopped production due to equipment overhaul and raw material shortages, including some refineries in Guangxi, Jiangxi and Inner Mongolia. In April, individual enterprises that cut production and stopped production in March have not yet completed overhaul. in addition, due to the arrival of the environmental protection inspection team in Yunnan, a large number of local fuming furnaces have been shut down. Some small and medium-sized enterprises said that at a later stage, they would not rule out the possibility of suspending refining or refining production. "check the details.

[SMM analysis: domestic tin mines increased by 26% from January to February compared with the same period last year to make up for the decline in tin imports] according to the Bureau of Statistics, the cumulative output of domestic tin mines from January to February in 2021 was 16975 tons, an increase of 25.58 percent over the same period last year. Previously, customs data showed that the cumulative import of tin ore from January to February was 20535 tons, calculated based on the average grade of 25% of imported tin ore, about 5134 tons of tin ore metal was imported from January to February. The above output and imports add up to the total domestic tin supply of 22109 tons from January to February, which is basically equivalent to the domestic primary tin output of 22063 tons from January to February, compared with SMM statistics.

[SMM data: an all-time high! Total stainless steel production in March is nearly 3 million tons] according to SMM research, the national stainless steel production in March totaled about 2.992 million tons, an increase of 543000 tons over February's total output, an increase of about 22.1 percent from the previous month, and an increase of 47.1 percent over the same period last year. In February, due to the Spring Festival holiday, a number of steel mills overhauled and reduced production, stainless steel production decreased month-on-month, and construction resumed in March. The operating rate gradually increased and returned to normal, with each department increasing by more than 20% compared with the previous month. In March, the output of series 200 was about 981000 tons, an increase of about 23.6% over the previous month. The output of series 300 was about 1.365 million tons, an increase of 20.5% over the previous month. The output of series 400 was about 646000 tons, an increase of about 23.7% over the previous month. "check the details.

[SMM analysis: national nickel sulfate production increased by 43.67% month-on-month in March to 21700 metal tons in March and is expected to continue to increase in April.) in March 2021, national nickel sulfate production was 21700 tons of metal, an increase of 43.67% over the previous month, and an increase of 106.07% over the same period last year. Among them, the output of battery grade nickel sulfate is 91200 physical tons, and that of electroplating grade nickel sulfate is 7300 physical tons.

[SMM thread: thread inventory continues to decline short-term strong logic unchanged] as of April 7, the national total inventory of building materials 14.6519 million tons, month-on-month-6.0%, year-on-year-15.9%. The pace of total inventory elimination of building materials continued to accelerate slightly this week, mainly due to the sustained recovery of demand in the real estate and infrastructure industries in April. On the other hand, the speed of the removal of the social storehouse and the factory storehouse has been divided, which is mainly manifested in that the demise of the factory storehouse continues to accelerate, and the speed of the social storehouse decelerates

[SMM hot coil inventory: strong bottom support medium-and long-term coil prices are still expected to rise] this week's total hot-rolled coil inventory of 3.5976 million tons, compared with last week-134300 tons, month-on-month-3.6%, year-on-year-36.34%. Volume price high shock transaction has weakened, superimposed holiday factors, hot volume total inventory decline narrowed this week. Social inventory: 2.6313 million tons of hot rolling stock this week, compared with last week-56100 tons, month-on-month-2.09%, year-on-year-35.14%. The decline of the hot-rolled social treasury has narrowed sharply this week. Apart from the holiday factors, after the coil price broke through the all-time high of 5600 points, the weakening of market turnover and the increase in the arrival of goods in some regional markets are the main reasons for the narrowing of the social treasury decline. "check the details.

[April 8 iron ore market daily review] Liantie is weak in finishing, and the price in the port spot market has been lowered by about 10-15 yuan / ton in early trading. Steel mills continue rigid demand procurement-based, the overall market transaction atmosphere is OK. Today, the turnover of PB powder in Shandong area is 1125-1132 yuan / ton, while that of PB powder in Tangshan area is 1130 yuan / ton, which is 3-10 yuan / ton lower than that of yesterday. According to the production estimates of 26 steel mills affected by production restrictions in Tangshan tracked by SMM, among which 126 blast furnaces are involved, it is estimated that the actual pig iron output of Tangshan environmental protection policy is 8.33 million tons, which is about 17% lower than that of 10.07 million tons in February; the iron ore demand of steel mills in Tangshan area decreased by 2.96 million tons in March. "check the details.

[SMM data: increase and decrease production and maintain 200000 tons of industrial silicon production in March] SMM survey shows that China's industrial silicon production in March 2021 is 202000 tons, which is basically the same as the previous month. Under the double control restrictions, most of the Inner Mongolia silicon plants were shut down in March, and only a few enterprises reduced their load production. Under the supplement of the resumption of maintenance capacity in Sichuan, Shaanxi, Guangxi, Hunan and other producing areas, the national supply was basically stable in March. The starting time of Yunnan Nujiang Silicon Plant is unknown because the electricity price has not been agreed. In other parts of the province, most silicon production plants plan to reduce production from April to May to ensure normal production after the arrival of the high water season in June. Some Xinjiang silicon plants also have maintenance plans. "check the details."

[steel plant bidding-metal manganese ingots] Nanjing Iron and Steel Co., Ltd. in April 2021, the factory price of metal manganese ingots including tax acceptance was set at 16900 yuan / ton, which was 200 yuan / ton higher than that in March. The public bidding volume was 1000 tons, which was 1000 tons less than that in March.

[SMM research: Dragon Python: plans to increase the company's titanium dioxide sales price] learned from the company's sales staff that on April 9th, the company's rutile titanium dioxide sales price is expected to increase by 1000 yuan / ton to all kinds of domestic customers and $150 / ton to all kinds of international customers. Longpang Baililian Group Co., Ltd., headquartered in Jiaozuo, Henan Province, is a large chemical enterprise group dedicated to the deep integration of titanium and zirconium industry chain and the R & D and manufacture of new materials. It is listed on Shenzhen Stock Exchange (stock code: 002601). The company has more than 10000 employees and total assets of 32.7 billion yuan. The main production capacity of titanium dioxide is more than 1 million tons / year.

[SMM high titanium slag spot KuaiBao: stable operation of high titanium slag] the mainstream quotation of domestic high titanium slag is 7500-8000 yuan / ton, which is the same as yesterday. The recent operation of titanium slag market is stable, due to the high price of titanium concentrate upstream, while the downstream demand is strong, the price of high titanium slag has followed up. The market of acid-soluble slag is affected by the downstream titanium dioxide market, and the prospect continues to improve. Considering the tight supply of titanium ore upstream and the increasing cost pressure of titanium slag, the price of high-titanium slag is expected to run firmly in the short term.

[SMM data: March New Energy Cobalt Lithium production data] China produced 4310 metal tons of cobalt sulfate in March 2021, an increase of 19.2% from the previous month and 22.6% over the same period last year. China's output of lithium carbonate in March 2021 was about 17570 tons, up 48.5% from the previous month and 32.5% from the same period last year. China's output of ternary materials in March 2021 was about 28725 tons, an increase of 7.5% over the previous month and 130% over the same period last year.

Important news of metals and industry

[national aluminum bar inventory weekly review: aluminum bar inventory dropped 12800 tons to 181000 tons month-on-month last week] aluminum bar market output decreased 9200 tons to 56800 tons month-on-month last week, high aluminum prices gradually transmitted downstream, acceptance mood increased, but processing fees rebounded, and the overall market shipments were not as good as before. Aluminium bar inventories are down 6.6 per cent, or 12800 tonnes, from the previous month to 181000 tonnes. Aluminum prices remain high and volatile this week, downstream demand is booming, but still bargain-hunting rigid demand. Among them, Wuxi and Foshan can go to the warehouse to check the details.

[SMM data] on April 8th, SMM statistics domestic electrolytic aluminum social inventory of 1.228 million tons, compared with the previous Thursday to 23000 tons, Gongyi and the South China Sea area to the warehouse is relatively obvious.

[did Chile's closure of Congress lead to a copper supply crisis? The world's largest copper producer: absolutely not! Chile, the world's largest copper producer, announced last week that it would close its border for 30 days because of the epidemic, sparking concerns about possible disruptions to copper supplies. However, the market was reassured by Benavides (Juan Benavides), chairman of (Codelco), the world's largest copper producer, on Wednesday. Asked whether the tightening of epidemic restrictions in Chile this week would disrupt the company's operations or shipments, Benavides said bluntly: "absolutely not." Codelco managed to increase production in the first quarter despite a surge in novel coronavirus infection in Chile, he said in an interview. In fact, "our output has increased so far this year." Despite the epidemic, Chilean copper mines, which account for 1/4 of the world's supply, have been able to maintain high production through shifts, nucleic acid testing and case tracking, and postponement of unnecessary activities.

[the president of Codelco is bullish on copper prices and worried that the epidemic will trigger a new round of market shocks] the president of Chile's state-owned copper company Codelco, the world's largest copper producer, said that copper prices may remain strong, but the spread of novel coronavirus may stimulate new shocks in the market. Copper prices, which have hit a near-decade high this year, rose earlier this week after Chile tightened its blockade due to a surge in novel coronavirus infection and several new viruses are spreading. Some analysts believe the price rise is due to supply concerns.

[Zhangjiagang United Copper: the output of high-purity cathode copper and anode copper reached the highest level in nearly five years from January to March] A few days ago, there was a good report from Zhangjiagang United Copper that in the first quarter of this year, the company achieved a sales income of 4.574 billion yuan, a book profit of 29.89 million yuan, and a warehouse tax of 50.21 million yuan, handing over an eye-catching "report card" and successfully realizing the "good start" of the first quarter.

[Greenland general election draws global mining industry attention. This A-share company is more interested.] on Tuesday, April 6, local time, Greenland officially held an election. The opposition IA has won the election. Opposition parties are explicitly opposed to the Kovane Bay mine project, which had previously promised not to grant mining licenses to Australia's Greenland Minerals Co., Ltd. The largest shareholder of Australia Greenland Minerals Co., Ltd. is Shenghe Resources, a listed A-share company.

[aluminum price uplink recycled aluminum price with rising pressure] on the 8th, aluminum price rose 80 yuan / ton, recovering some of yesterday's decline, while recycled aluminum price remained stable and weak with the rise. Domestic prices, domestic large recycled aluminum enterprises remain unchanged, maintained at 17500-18000 yuan / ton, small and medium-sized plants, quotations are also stable, currently at 17500-17600 yuan / ton. In terms of import and export, the transaction price of ADC12 is currently maintained at around 17350 yuan / ton, and the import real-time window loss is 300 yuan / ton. Although the aluminum price has risen slightly, the recycled aluminum price is still under pressure. At present, the price is still high, the downstream purchasing pressure is greater, and the on-demand or bargain-hunting strategy remains unchanged. In the near future, we need to continue to pay attention to the transmission process of high raw material prices to the terminal field. It is expected that the price of recycled aluminum will be stable in the short term, but there is still pressure on the upstream.

[the wide-range shock spot purchasing atmosphere of nickel triggered by fluctuations in the US index is still weak] the dollar index first rose and then fell, which interfered greatly with macro sentiment. The bulls who sharply reduced their positions after the opening of the morning market returned to the market again, and the price of nickel came out of the roller coaster market. The last time the morning market opened near 126000, the intraday dive fell to 124000, and in the afternoon nickel prices continued to strengthen and return to above 126000. In the case of large fluctuations in nickel futures, the spot market continues to be lacklustre, buyers' willingness to purchase is low, market quotations are more and less, and trading volume is few. "check the details.

[SMM Analysis: fundamentals still support short-term need to prevent callback risk] from April 1 to 4, Tangshan Ecological and Environment Bureau reported a total of 48 cases of environmental violations and punished a number of companies, resulting in a cumulative fine of 19.2 million. In addition, four enterprises were revoked their pollutant discharge permits and ordered to suspend business for online monitoring fraud. Then, the second round of the third round of central environmental protection inspectors was launched, and the inspectors were stationed in eight provinces (regions) of Shanxi, Liaoning, Anhui, Jiangxi, Henan, Hunan, Guangxi and Yunnan for a period of about one month. Environmental protection production restrictions show signs of expansion and tightening. "check the details.

[Xinjiang Zhonghe increased 117% to 140% year on year in the first quarter of 2021] A few days ago, Xinjiang Zhonghe issued a pre-increase announcement on its results for the first quarter of 2021. According to preliminary estimates by the financial department, the company expects the net profit of shares belonging to listed companies to increase by 75 million yuan to 90 million yuan in the first quarter of 2021 compared with the same period last year, an increase of 117% to 140% compared with the same period last year.

[Chinalco's first-quarter net profit is about 967 million yuan, a year-on-year increase of about 30 times.] A few days ago, Chinalco issued a pre-increase announcement on its results for the first quarter of 2021. The data show that according to the company's preliminary estimates, the net profit attributed to shareholders of listed companies is expected to be about 967 million yuan, an increase of about 936 million yuan compared with the same period last year, and a year-on-year increase of about 30 times.

[Tangshan solidly promotes the special rectification of metallurgical safety for three years] pay close attention to the key points and strict standards. Take the construction and operation of the "double control" mechanism as the core work of the three-year action, focusing on the comprehensive identification of risks, the improvement of control measures, the implementation of management and control responsibilities, the regular investigation and treatment of hidden dangers, and the strict assessment of rewards and punishments. we will take measures such as supervision, inspection and examination, and holding on-the-spot meetings to observe and exchange, and strongly promote the construction of an information platform for the "double control" mechanism. Up to now, of the 989 high-risk and regulated enterprises in the industrial and trade industry in Tangshan, 40 high-risk metal smelting enterprises have all completed the construction of information platforms, and 663 non-high-risk enterprises have been completed, with a completion rate of 71%.

[Indonesian nickel smelters are expected to have an annual nickel production capacity of 36000 tons in the first phase with financing of US $625 million.] according to recent reports, DBS Group and BNP Paribas have financed a US $625 million project for a nickel smelter in Indonesia. Halmahera Persada Lygend (PT HPAL) is the first Indonesian project to use high pressure acid leaching (HPAL) technology to produce mixed nickel cobalt hydroxide precipitate (MHP) and nickel sulfate (a key material for battery manufacturing). The smelter, located on Obi Island in eastern Indonesia, has an annual production capacity of 36000 tons of nickel and 4400 tons of cobalt in the first phase.

[two-board Anyang Iron and Steel: not involved in the concept of market hot spots] Anyang Iron and Steel announcement, after the company's self-examination and written consultation with the controlling shareholders, as of the date of disclosure of the announcement, the company and the controlling shareholders do not have material information that should be disclosed but not disclosed. According to the company's self-examination, as of the date of disclosure of the announcement, the company has not found any media reports or market rumors that have an impact on the company's stock trading price that need to be clarified or responded to, nor does it involve the concept of market hotspots.

[Shandong Province will withdraw from steelmaking capacity of 18.76 million tons and ironmaking capacity of 13.97 million tons in the next 5 years] in order to continuously improve the ambient air quality of the province, according to the national requirements and the reality of our province, we have studied and put forward the objectives of improving the air quality of the whole province during the 14th five-year Plan and 2021, and decomposed to form specific working measures. And the opinions of the relevant departments were solicited through the key points of the work issued by the Office of the Ecological and Environmental Committee. It withdrew 18.76 million tons of steelmaking capacity and 13.97 million tons of ironmaking capacity. Blast furnace-converter long process enterprises are encouraged to transform into electric furnace short process enterprises. By 2025, more than 10% of blast furnace-converter long process enterprises will complete the transformation of electric furnace short process. Reduce coking capacity by 2.95 million tons. Shut down and withdraw from the refinery capacity of 15.2 million tons. The output of geotechnical products is more than 8% lower than that in 2020.

At present, the inventory is low and the daily consumption is high (the number of days available at the end of March is less than 7 days). There is an urgent need to prepare coal for summer from April to May, and it is recommended to establish a stable quota system for imported coal. The relevant personnel of the National Development and Reform Commission issued instructions on the next step of work, demanding to increase production and supply, and to organize coal mine production according to the maximum output in winter.

[Hengye Silicon Industry and Yichang Xinghe signed a strategic cooperation agreement on raw materials] on April 7, the customer exchange meeting of "Metal Silicon-Raw Materials" was held in Xingfa, Hubei Province. Zhang Shilei, president of Sichuan Hengye Silicon Industry Co., Ltd., and Li Shengqing, chairman of Yichang Xinghe Chemical Co., Ltd. (hereinafter referred to as Yichang Xinghe), attended the meeting and delivered speeches. At the beginning of the meeting, President Zhang Shilei gave a brief introduction to the company's current production of "metal silicon-raw materials" and thanked Yichang Xing and its long-standing support. Subsequently, various functional departments of Hengye Silicon Industry and Xinghe in Yichang had friendly communication with Xinghe on business cooperation and specific issues, and reached a consensus.

[the first forestry carbon sequestration project in Inner Mongolia was publicly listed for transfer] on the 8th, the signing ceremony of the first forestry carbon sequestration (VCS) of Inner Mongolia Forest Industry Group was held in Inner Mongolia property Rights Exchange Center. This is the first carbon sequestration property rights trading project in Inner Mongolia Autonomous region, and it is also the first carbon sequestration property rights trading project for Chinese property rights trading institutions to broaden the market function of factor resources services. It is understood that the Inner Mongolia Forest Industry Group Chaoer Forestry Bureau Co., Ltd. listed the price of 260000 tons of VCS emission reduction, and the total price was 2.99 million yuan, with a value-added rate of 15%. Up to now, the total sales of carbon sequestration in Daxing'anling forest region of Inner Mongolia is 4.9 million yuan.

Terminal information

[Geely officially joined IATF as the only automobile group in Asia] on April 8th, IATF, the international automobile standards cooperation organization, officially announced that Geely Automobile Group has become the 10th automobile group member of IATF International Automobile working Group, and has the right of directors to vote. As the first Asian member in history, Geely's accession is a milestone in the globalization of IATF. Geely, together with nine other major international automobile groups and automobile associations of Europe and the United States, will jointly participate in the formulation of international quality standards to promote the sustainable development of the world automobile industry.

[new Model S delayed delivery in February or related to supply chain] according to news on April 8, the launch of the updated Model S may be delayed by two months, and some scheduled customers have been notified by Tesla, delaying the delivery of new cars from March or April to May and July. According to information previously released by Tesla, the company initially planned to start production of new versions of the Model S and Model X in March and April this year, respectively, but in fact, production of the, Model S had not started until the end of March, and the spy photos or videos previously exposed were probably just pre-production prototypes.

[Tesla's registration of all-electric vehicles in Germany surged 83 per cent in the first quarter compared with the same period last year] according to Teslarati, the registration of Tesla all-electric vehicles in Germany increased sharply in the first quarter of 2021, soaring 83 per cent compared with the same period in 2020. Although Tesla's super factory in Germany has not yet produced any cars, its expansion in Germany continues.

[Beijing, Shanghai, Guangdong, Hebei, Henan and other places will be included in the fuel cell vehicle demonstration application urban agglomeration] the Ministry of Finance and other five departments recently issued a notice to include Beijing, Shanghai, Guangdong, Hebei, Henan and other places in the fuel cell vehicle demonstration application urban agglomeration. According to the requirements, the above-mentioned cities will report the previously submitted implementation plan to the five departments before April 30, and the expert committee will review and determine the final list. According to industry insiders, the demonstration city project is expected to be launched within the next two months.

[SAIC: is minimizing the impact of chip shortage through measures such as strengthening global supply chain coordination] with regard to the issue of chip supply, SAIC responded that the chip problem is a common problem facing the global automotive industry. The main reason for the shortage of automotive chips is the imbalance between supply and demand. The company is minimizing the impact by strengthening global supply chain coordination and other measures. Although the shortage of chips will continue for some time, SAIC has a strong industrial chain advantage and will work with the industry to overcome difficulties.