[SMM Metal Breakfast] the rise and fall of metals varies * the social inventory of aluminum ingots rises unexpectedly * the growth of lead ingots slows down.

[macro outlook] focus on May Markit manufacturing PMI in the United States, Europe and other countries

[overnight market] Metals rise and fall each other. Black series trend differentiates iron ore up 4.54%.

The overnight outer disk metal market is closed for a bank holiday. Inner plate metal ups and downs, black mineral trend differentiation, due to market rumors of Tangshan ironmaking control details adjustment, the proportion of production restrictions decreased. Judging from the volume of finished products last week, it is still in the peak season of steel consumption, and the enthusiasm of steel mills is not reduced. Superimposed the recent rebound in steel prices, steel mill profits rebounded again, driving mineral prices to stabilize and rebound.

The dollar index closed below 90 again, as the market was assessing the impact of soaring US inflation ahead of the release of monthly jobs data later this week. Investors weigh the impact of rising price pressures and the Fed's dovish stance on US assets. Despite rising inflation, the market is not expected to raise interest rates until the end of 2022. Us stocks are closed for Memorial Day.

In crude oil, linoleum continued to rise on growing optimism that fuel demand would grow in the next quarter, as investors looked forward to this week's meeting of the OPEC+ alliance of the Organization of Petroleum Exporting countries ((OPEC)) and its allies to focus on the response of oil producers.

In terms of precious metals, spot gold rose slightly, rising nearly 8 per cent in May, the biggest monthly increase since July last year, as rising inflationary pressures continued to support gold prices. The rebound in gold ETF positions and fund futures positions is not strong enough, suggesting that many investors are not sure of the short-and medium-term direction.

Yesterday, the Prev index rose 0.4% in the afternoon, the gem index rose high, and the Ningde era rose 5.27% to an all-time high, becoming the first company with a market capitalization of more than one trillion yuan. The theme of the two cities is active, individual stocks are more red than green, and the money-making effect is strong. Novel coronavirus tested that it was strong in early trading, carbon neutralization and medical beauty were strong throughout the day, the military sector rose in the afternoon, lithium battery stocks rose again, more than 10 stocks rose by the daily limit, and the concept of providing for the aged and baby was pulled up in late trading. In terms of high-bid stocks, Rongyu Group has 10 boards in 12 days, 7 boards in contact interaction, 7 boards in 8 days in Jinsen, Fujian Province, and 5 boards in Jianyu Information. On the disk, medical devices, medical beauty, lithium batteries and so on led the increase, while airport shipping, hotel catering, scenic spots and tourism were among the top declines. As of the close, the Prev index rose 0.4% to close at 3615 points, the Shenzhen Composite Index rose 0.97% to close at 14996 points, and the gem index rose 2.38% to close at 3309 points.

Macro focus

[heavy weight! The central bank decided to raise the foreign exchange deposit reserve ratio of financial institutions from June 15] in order to strengthen the management of foreign exchange liquidity of financial institutions, the people's Bank of China has decided to increase the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points from June 15, 2021, that is, the foreign exchange deposit reserve ratio will be raised from the current 5% to 7%.

[China's manufacturing purchasing managers index and non-manufacturing business activity index continued to be in the expansion range in May] in May, China's manufacturing purchasing manager index was 51.0 per cent, down 0.1 percentage points from the previous month; non-manufacturing business activity index and composite PMI output index were 55.2 per cent and 54.2 per cent respectively, up 0.3 and 0.4 percentage points from the previous month, and China's economy as a whole continued to expand steadily.

[the industry forecasts 1.525 trillion yuan in new credit and 2.2 trillion yuan in social finance in May.] A number of experts look forward to the scale of new RMB loans and social finance increase in May. Overall, the average amount of new credit predicted by experts in May is 1.525 trillion yuan, and the increase in social finance is expected to be about 2.2 trillion yuan. Ming Ming, chief analyst at Citic Securities FICC, said that the size of new renminbi loans in May is expected to be similar to that of the same period last year, mainly because physical financing demand is still good and credit lines are relatively abundant, but tighter real estate-related financing activities may curb some credit growth.

[the latest Organization for Economic Cooperation and Development Global Economic Outlook report: China's economy is expected to grow by 8.5% this year] the report predicts that among the economies of the G20 member countries, China's economy will continue to maintain a strong growth momentum. China's economy will grow by 8.5% in 2021 and 5.8% in 2022, both of which are higher than the level of global economic growth. In addition, globally, economic growth in the fourth quarter of 2020 was still 4 per cent lower than expected the year before the novel coronavirus pandemic. It is estimated that global economic growth will slow to about 0.5% in the first quarter of 2021.

On May 28th, reverse repurchase of one-day Treasury bonds (GC001) rose sharply by 207.5 basis points, with an intraday high of 5.5 per cent, followed by a sharp fall of 98 basis points on the 31st, with an intraday high of 4.98 per cent. on May 28, the reverse repurchase of one-day treasury bonds rose sharply by 207.5 basis points, hitting an intraday high of 5.5 per cent, followed by a sharp fall of 98 basis points on the 31st. This is the first time GC001 has climbed to a high of 4 per cent since the end of March, according to public data. Many analysts believe that this is mainly related to the acceleration of local bond issuance, the increase in market risk appetite, and the settlement of income tax.

Today's focus

[SMM analysis: what is the impact of Malaysia blockade on the imminent import of recycled cast aluminum alloy raw materials? First of all, according to customs data, the amount of scrap aluminum imported from Guangdong has increased significantly after the Spring Festival. Since the implementation of the new waste aluminum standard in 2021, a total of 334000 tons of waste aluminum have been imported from January to April, of which Malaysia imported about 106000 tons, accounting for about 31.9% of the total imports. ranking second among all source countries, slightly less than Hong Kong. In addition, due to the existence of import self-tariff agreement, the import of cast aluminum alloy is more considerable. From January to April, the cumulative import of unwrought aluminum alloy was 308000 tons, of which Malaysia imported 101000 tons, accounting for 32.8% of the total.

[aluminum price stabilizes waste aluminum price] as aluminum prices stabilized yesterday, the performance of the waste aluminum market was stable, and the prices of raw and cooked aluminum were stable. However, it is worth noting that on the one hand, poor sales of aluminum alloy ingots in China last week may lead to a certain degree of die-casting domestic raw aluminum prices, on the other hand, the Malaysian blockade has delayed the delivery of waste aluminum in the country, resulting in a slight increase in overseas scrap aluminum prices.

SMM A00 aluminum price fell 40 yuan / ton to 18780 yuan / ton compared with yesterday. Aluminum prices generally lowered their quotations after a sharp rise in macro-positive data on Friday. The aluminum price fell 40 yuan / ton to 18780 yuan / ton compared with yesterday, and aluminum prices fell slightly yesterday after a sharp rise in macro-positive data on Friday, and aluminum prices fell 40 yuan / ton to 18780 yuan / ton compared with yesterday. In terms of domestic prices, the quotations of large domestic recycled aluminum enterprises have dropped slightly by 50 yuan / ton to 19050-19350 yuan / ton; for small and medium-sized plants, the quotation remains unchanged, currently between 18700 and 18900 yuan / ton, but the actual transaction price is falling to as low as 18300 yuan / ton. The price fluctuates slightly, the wait-and-see attitude in the lower reaches remains the same, the overall transaction is poor, the circulation of low-cost goods in the market increases slightly, and the competition intensifies. "check the details."

[aluminum bar spot daily review: processing fee adjustment during trading hours is frequent and actual transaction is not good] yesterday, the processing fee in the mainstream market of aluminum bar continued to be adjusted downwards as a whole, of which Wuxi in East China was reduced by 20-40 yuan / ton, and Nanchang decreased by 80 yuan / ton. out of the warehouse is not smooth; However, at the beginning of the South China market, the aluminum bar processing fee was relatively strong, and most of the holders raised their processing fee by 20-30 yuan per ton, but the trading period was greatly affected by the fluctuation of the market, and the processing fee was adjusted frequently, as low as 400 yuan per ton, with a drop of as high as 120-170 yuan per ton. the actual transaction is weak. "check the details.

[aluminum ingot social inventory unexpectedly rose, spot stock rose slightly] yesterday, Shanghai Aluminum failed to continue the strong night trading last Friday, and the focus of trading gradually withdrew to around 18800 yuan / ton. the domestic social inventory of aluminum ingots increased by 14000 tons to 976000 tons compared with last Thursday. Some aluminum ingots are concentrated in South China and East China, so that spot transactions in East China are concentrated at 18770-18780 yuan / ton. Check the details of the small reduction of 10 yuan / ton to the vicinity of Pingshui in the current month.

[SMM monthly outlook: aluminum prices may show wide fluctuations driven by long-short factors] generally speaking, recent aluminum prices are affected not only by fundamentals, but also by policy factors and capital rotation. At present, macro liquidity easing has pushed LME aluminum prices higher, supporting the inner market. However, the policy side is more uncertain. Fundamentals, May-June is still the peak consumption season, and last Thursday went to the Treasury for the highest since May, giving aluminum price bottom support. SMM expects Shanghai Aluminum to maintain a wide range of shocks, focusing on the impact of macro-control on aluminum prices in the near future. "check the details."

[SMM data: inventory in Wuxi and Nanhai area increased by 14000 tons to 976000 tons over the previous week.] May 31, SMM statistics domestic electrolytic aluminum social inventory of 976000 tons, a small increase of 14000 tons over the previous week, the arrival of goods in the South China Sea and Wuxi increased, downstream delivery efforts are not as strong as the previous week. "check the details.

[SMM data: some mainstream delivery stocks have reached the upper limit of storage capacity.] according to SMM, as of Monday, the total inventory of lead ingots in the five places reached 105000 tons, an increase of 1800 tons compared with last Friday. 11000 tons higher than on Monday (May 24), refreshing the highest level since May 2015. "check the details.

[SMM data: SMM seven zinc ingots social inventory dropped 1100 tons compared with last Friday] according to SMM, as of this Monday, the total inventory of SMM seven zinc ingots was 154400 tons, down 1100 tons from last Friday (May 28), and 7100 tons lower than last Monday (May 24). "check the details.

[SMM monthly Outlook: overseas tin ingot supply is still tight + Yunnan power cuts affect tin price storage support] SMM believes that due to the influence of power cuts in Yunnan, large local tin smelters have stopped production since then, resulting in a shortage of goods in circulation in the spot market, rising water levels, and increasing tensions at home and abroad to support tin prices. It is expected to maintain a strong shock trend in the short term, with tin support of 197000 yuan / ton and resistance of 210000 yuan / ton in Shanghai stock market. "check the details.

[SMM monthly Outlook: high output of stainless steel and new energy stimulates rigid demand for nickel raw materials. Nickel price is strongly constrained by policy in the long term.] overall, SMM believes that from a macro point of view, although imported inflation seems unstoppable, the domestic attitude towards curbing excessive speculation is firm, and commodity prices should gradually return to fundamental supply and demand in the shock. It is expected that the correction probability of the nickel price correction this week is higher than that of Shanghai nickel 129000-136000 yuan / ton and Lunni 17600-18500 US dollars / ton. "check the details.

[Foshan stainless Steel Daily Review] yesterday morning, many traders in South China docked warehouses were affected by power cuts this week, most of the terminal buyers were notified to order or complete transportation in advance in the first half of the week, and steel mills reduced their specific specifications of steel last week, so the atmosphere of terminal search is enhanced this week. In addition, some new roads and areas in Guangzhou and its surrounding areas will be blocked, transportation may be delayed, and traders will be more willing to close transactions at high prices in the short term. "check the details.

[SMM stainless steel spot information: stainless steel SS contract pull spot stable basis narrowing] Wuxi stainless steel prices are basically stable shipments, 304cold rolled rough edge coil price of 16200-16700 yuan / ton, the average price rose 50 yuan / ton, 304 hot rolling reported 15900-16200 yuan / ton, the price remained stable. According to market research, the current spot transaction performance is general, the demand is OK, some specifications are still limited by the lack of stock. Since last Friday, the stainless steel SS contract has risen sharply, while the spot price has risen less, and the current price difference has narrowed to less than 1000 yuan. And from the point of view of the recent and distant monthly difference, the monthly difference is also showing a trend of narrowing gradually. "check the details."

[SMM steel market terminal demand report] May steel market out of the thrilling "roller coaster" market, we not only witnessed the power of state administrative intervention, but also saw the excessive rise of capital and cold-blooded to kill the vicious impact on the market, not only greatly hurt the vitality of traders, but also brought great difficulties to the progress of construction and procurement rhythm downstream of the terminal. So after the sharp fall in steel prices, whether the enterprise's willingness to purchase is positive? Is the construction progress resumed? Is it a good time to focus on building warehouses and replenishing warehouses after the fall in steel prices? On this basis, SMM investigated 50 enterprises in capital construction and real estate. "check the details."

According to the MMi Iron Ore Port spot Index report (31st), a forum was held in Tangshan yesterday for iron and steel enterprises to adjust the plan for stopping production and limiting production of sintering machines, involving sintering, ironmaking, steelmaking, and ultra-low emissions, among which the details of ironmaking management and control were adjusted to: Chunxing special steel, medium and heavy plate, Donghua Iron and Steel, Xinda Iron and Steel, and Songting Iron and Steel, which originally implemented the 50% daily emission reduction ratio. It is recommended that the proportion of emission reduction be adjusted to 30%.

[SMM Daily Review: the price of silicon fluctuates greatly and it is difficult for the silicon factory to quote oxygen.] yesterday, the price of oxygen-free silicon in Tianjin Port was 12800-12900 yuan / ton. Oxygen-free 55 silicon in nearly half a month experienced a rapid rise in prices to maintain stability and then began a pullback, due to light transactions after the silicon price began to fall. "check the details."

[SMM analysis: the transportation of metal silicon in Guangdong has been slightly blocked.] Huangpu Port in Guangdong Province is the largest export port of metal silicon. In addition, there are also many aluminum alloy production enterprises in Guangzhou, Foshan and other places. After the epidemic aggravated in Guangzhou and its surroundings, SMM learned that it had no significant impact on the transport and consumption of silicon metal, but only had an obvious impact on trucks in Xinjiang. "check the details."

[SMM Daily Review: rare earths market continued last week in the morning.] on Monday morning, the rare earth market was relatively deserted, with fewer manufacturers taking the initiative to quote, and the overall quotation continued the trend of last week, and the price trend of rare earth products may be clearer in the afternoon. For light rare earths, praseodymium oxide was quoted at 48.5-490000 yuan / ton, and some consignors hesitated to sell it. "check the details."

[part of the monthly increase in steel in June compared with the increase in the positive price of electrolytic manganese at the beginning of the week] the spot ex-factory price including tax in the mainstream area of the manganese triangle is around 16200-16400 yuan / ton, which is temporarily stable compared with the average price last Friday; the spot ex-factory price including tax in Guangxi is around 16100-16300 yuan / ton, which is the same as last Friday's market price. According to SMM, it is understood that the bidding price ring of Xiangtan Iron and Steel Manganese Ball in June is 200-300 yuan / ton higher than that in May. Many operators think that there is temporary support for the market price of manganese tablets in the short term, and orders for domestic rigid demand may increase this week, so the average spot market price of electrolytic manganese in the main producing area is stable at around 16300 yuan / ton on Monday. "check the details.

The intraday market capitalization exceeds 1 trillion! Ningde era jumped to become the first trillion-yuan market capitalization company on the gem] May 31 news, Ningde era opened rapidly higher in the morning, and even hit the limit at one point, and then broke through the limit again, with the highest increase reaching 4.97% at one point to 429.9 yuan per share. Affected by the sharp rise in share prices, the intraday market value of Ningde era once exceeded 1 trillion, becoming the first company with a market capitalization of one trillion yuan on the gem. "check the details."

[SMM magnesium ingot spot KuaiBao: magnesium City weak operation] yesterday Fugu area 90 magnesium ingot mainstream transaction price in the vicinity of 17800 yuan / ton, and then the low price is difficult to find. From the factory, the current quotation is relatively chaotic, the big factory continues to raise the price, and the quotation in Fugu area is between 17800 yuan / ton-18000 yuan / ton. On the raw material side, coal prices in Yulin are mixed, coal prices are expected to stop falling and stabilize in the near future, and the cost-end support of magnesium prices is expected to be restored. Some traders said that due to abnormal fluctuations in raw material prices, inventories remained low this month. If magnesium prices return to stability in the near future, downstream customers with orders are expected to enter the market to purchase. "check the details.

Important news of metals and industry

[Ministry of Ecology and Environment: strengthen the prevention and control of the source of ecological environment in construction projects with high energy consumption and high emissions] strictly control the environmental access of construction projects. The new construction, reconstruction and expansion of the "two high" projects shall comply with the laws and regulations on eco-environmental protection and relevant statutory plans, to meet the requirements of the total emission control of key pollutants, the target of reaching the peak of carbon emissions, the eco-environmental access list, the relevant planning environmental assessment and the environmental access conditions for construction projects in corresponding industries, and the principles of examination and approval of environmental assessment documents. Petrochemical and modern coal chemical projects should be incorporated into the national industrial planning. The new construction and expansion of petrochemical, chemical, coking, non-ferrous metal smelting and flat glass projects shall be located in industrial parks established in accordance with the law and subject to planning and environmental assessment.

[contract transaction fees adjusted in the previous period for nickel, tin, rebar, hot rolled coil, etc.] according to the study, starting from June 3, 2021 (that is, the night market on June 2, 2021): 1. The transaction fee of the rebar futures Rb2110 contract within the day will be adjusted from 2/10000 of the transaction amount to 3/10000 of the transaction amount. 2. The transaction fee of the current position in the hot-rolled coil futures Hc2110 contract shall be adjusted from 2/10000 of the transaction amount to 3/10000 of the transaction amount. 3. The handling fee for the closing of current positions in nickel futures Ni2107 and Ni2108 contracts will be adjusted from 3 yuan / hand to 6 yuan / hand. 4. The transaction fee of tin futures Sn2107 and Sn2108 contracts will be adjusted from 3 yuan / hand to 6 yuan / hand. 5. The handling fee of the fuel oil futures Fu2109 contract will be adjusted to 0.5/10000 of the transaction amount within the day.

[the development value of the Prodactora copper mine in Chile rises] the rise in copper prices has increased the economic value of Red Geely's (HOT Chili) copper project in Chile. Currently, the company's Prodoctora (Productora) project has a net present value of $1.1 billion, an increase of 500%, and the internal rate of return has risen to 38%, an increase of 150%.

[Codelco copper supply task] driven by demand from the power and construction industries, and with the acceleration of automobile electrification, the current gap in the copper market is expected to expand further in the next few years. Codelco, Chile's state-owned copper miner, issued $2 billion in dollar bonds in January to finance billions of dollars in upgrading projects and debt refinancing.

The union of remote operators of BHP's Escondida and Spence copper mines in Chile entered its second day of strike on Friday as the company used alternative workers to ensure continued production, according to union leaders. The trade union has complained to the Labour Bureau that it violated the right to strike and anti-union conduct.

[commodities supercycle is in doubt about funds reducing long positions in multiple commodities] commodity markets are buzzing about whether the super rally so far this year is over or whether it will continue after a pause. Investors are reducing their long positions in commodities ranging from crops to copper to natural gas. Hedge fund positions in 20 of the 23 commodities tracked by the Bloomberg Commodity Index fell the most since November last week, according to the Commodity Futures Trading Commission (CFTC) and ICE (ICE). The commodity rally may not end, but whether it reaches new highs may depend on supply and demand rather than speculative buying.

On May 21, Ye Wei, head of the Science and Technology Management Department of Commercial aircraft Corporation of China, and his entourage went to Nanshan Aluminum to investigate and issue a certificate of approval for civil aircraft aluminum engineering to Nanshan Aluminum to encourage and promote Nanshan Aluminum to further participate in the development and guarantee of civil aircraft aluminum as a representative of private enterprises. Lu Zhengfeng, general manager of Nanshan Aluminum Co., Ltd., and relevant responsible persons accompanied the event.

[Japan's steel exports fell 8.9 per cent from January to April] according to customs statistics released by the Japan Iron and Steel Federation ((JISF)), Japan's steel exports in April were 2.74 million tons, down 13.2 per cent from the previous month and 3.6 per cent from a year earlier. From January to April this year, Japanese steel exports totaled 11.07 million tons, down 8.9 percent from the previous month. In terms of Japan's main export markets for steel products, in the first four months of this year, Japan's steel exports to South Korea totaled 1.37 million tons, down 27.1 percent, while exports to China increased by 6.4 percent to 1.71 million tons; exports to Thailand increased by 29.0 percent to 1.98 million tons; and exports to the United States fell by 7 percent to 339000 tons compared with the same period last year.

[India's iron ore exports surge local steelmakers' raw material shortages intensify] Iron ore exports, mainly to China, have surged, leaving Indian steelmakers in a miserable position. Although global steel prices remained high in the first four months of this year, local producers in India are struggling to survive because of a severe shortage of raw material iron ore. In the first four months of this year (January-April), India's iron ore exports rose 66 per cent to 22.42 million tons. About 90% of exports go to China. China is the world's largest steel producer, importing 20.28 million tons of iron ore from India in the first four months, compared with 12.24 million tons in the same period last year. As a result of the economic disruption after the outbreak of Covid-19, iron ore production fell sharply by nearly 44 million tons to 202 million tons in 2020-21. However, the country's exports increased by 62 per cent, from 37 million tons to 60 million tons. The adjustment for incremental exports and the decline in production resulted in an overall shortage of about 70 million tons.

[South Korean steel prices soar, South Korean refrigerator prices soar to 20,000 yuan] South Korean steel industry needs almost all iron ore imports, while international iron ore prices have risen about 80% since the beginning of the year, leading to soaring prices of South Korean steel products. Mr. Li, an engineer, said that the prices of steel bars, steel pipes, section steel and other construction steel have all risen sharply. Compared with the end of last year, the average increase is about 40%. Many small and medium-sized construction enterprises in South Korea with weak bargaining power have delayed the project or suspended construction because of steel shortage. By visiting some home appliance stores, the reporter learned that now steel prices are rising, and refrigerators, washing machines and other household appliances, which use more steel, are also beginning to face the pressure of price increases. Some South Korean consumers said that the current prices of refrigerators are basically around 3.5 million won (about 20,000 yuan), several times more than the budget.

[ArcelorMittal raises the price of steel coil in Europe by 20 euros / tonne] it is reported that ArcelorMittal, Europe's largest steelmaker, has raised the price of hot-rolled coil in Europe by 20 euros / tonne to 1170 euros / tonne, and the price of cold-rolled and hot-dip galvanized sheet by 20 euros / tonne to 1320 euros / tonne. Falling prices in China have hit sentiment in Europe, and buyers are taking a wait-and-see attitude. However, those who urgently need to buy raw materials have to face persistent strong quotations from European factories.

[Shenghe Resources: continue to increase the size of mergers and acquisitions to expand production capacity] affected by supply and demand, rare earth prices continue to rise, the company's profit is inevitable. Although the demand for rare earths brought by downstream new energy vehicles and smartphones has continued to increase in the past two years, due to the domestic implementation of total quantity control on the development of rare earths, the supply is relatively rigid, resulting in the supply of rare earths falling short of demand and prices fluctuating at high levels. Since last year, driven by new energy vehicles, the supply of praseodymium aluminum oxide and terbium oxide has become increasingly tight, with prices rising from 268000 yuan / ton to 458500 yuan / ton, an increase of 71%. It is estimated that there will be a shortage of 3000-5000 tons in 2020.

Oriental zirconium industry zirconia income rose 68.33% year-on-year gross profit margin did not increase but decreased why? Recently, Oriental Zirconium Industry replied to the 2020 report. During the reporting period, the company achieved an operating income of 768 million yuan, of which in 2020, the new heavy mineral income was 227 million yuan, the gross profit margin was 7.50%, the new titanium concentrate income was 45 million yuan, the gross profit margin was 33.44%, and the income of zirconium oxychloride was 159 million yuan, an increase of 68.33% over the same period last year. Zirconium oxychloride, composite zirconia, structural ceramics and fused zirconia gross interest rates all decreased by more than 40% compared with the same period last year.

[divine material: there is uncertainty in the implementation of the material supply agreement with the Ningde era] on the evening of May 31, the company disclosed the announcement of abnormal fluctuations in stock trading: on May 28, the company disclosed the "announcement on the signing of the material supply Agreement between the wholly-owned subsidiary Ningde Kaixin and the Ningde era." the agreement is a framework agreement for material supply, and the quantity of material supply involved is the expected usage of cooperation between the two parties. The actual situation is based on the specific purchase and sale orders / contracts actually signed in the future, so there is some uncertainty in the implementation of the agreement.

[OPEC + talks on oil supply on Sunday and the oil market is expected to be tight] after a year of sharp cuts in crude oil production, OPEC + expects a serious tightening in the global oil market if no further production is made. oil stocks will fall sharply for the rest of the year. According to the report of the Joint Technical Committee, after the completion of the existing production plan, OPEC + oil-producing countries will still have a lot of spare capacity, and there will be a lot of room to increase production later this year. OPEC Secretary General Balkin said that OPEC + is keeping a close eye on Iran, and that Iran may be able to expand exports rapidly if an Iranian nuclear deal is reached and the United States lifts sanctions against Iran. Iranian production and exports are expected to return to the global market in an orderly and transparent manner, thus maintaining the relative stability of oil supplies pursued by the OPEC alliance since April last year.

Hot stocks: witness history! Gem's first trillion market capitalization company was born with Feifei Lithium Electric concept stock polyfluorodo and other 15 stocks trading limit board] May 31, is destined to witness the history of the day. Since the opening of trading in the morning, the share price of Ningde era, a leading power battery company, has soared all the way, easily taking the entire lithium battery concept stock. By the end of the day, Ningde Times had risen 5.98% to 434.10 yuan per share, making it the first trillion-yuan company on the gem with a market capitalization of 1.0112 trillion. Driven by the good news of the Ningde era, lithium batteries also rose one after another, closing up as much as 3.56%. Individual stocks were also not willing to lag behind. By the end of May 31, a number of stocks, including Ke Heng shares, Yan'an Bikang, Kelu Electronics, Noli shares, Duofudo, Mindong Electric Power, Shi Da Shenghua and other 15 stocks, rose by the limit of more than 10%. In total, nearly 19 stocks rose by more than 10%. The whole Li-ion concept stock plate is a Red Sea Carnival. "check the details.

Terminal information

[guard against the shortage of raw materials, the performance of battery stocks may be affected] one of the most important components of new energy vehicles is the battery, and a large amount of copper is needed in the battery. at present, the international price of copper has reached an all-time high, and the state also intends to regulate the rapid rise in copper prices, so it does not rule out the possibility that battery companies will be forced to reduce production in the future, and the performance of battery stocks may also be affected.

[the fast charging industry of electric vehicles will be supported and there is a broad space for the development of the industry chain] the China charging Alliance is compiling a report on the investigation of high-power (fast) charging and relevant opinions and suggestions, which will be submitted to the relevant government departments when completed. The relevant opinions are expected to become an opportunity for the advent of the super fast charging era in our country. China charging Alliance believes that fast charging will have a greater demand in certain scenarios and some models. In addition, there is also a demand for fast charging in the power change scenario. Industry insiders believe that with the continuous technological breakthroughs, the industrialization conditions of fast charging tend to mature, and the market business opportunities are huge.

[Ernst & Young: German automakers benefited from the Chinese market in the first quarter of this year] according to a report released by well-known accounting firm Ernst & Young on May 31, large German automakers Volkswagen, BMW and Daimler got off to a strong start in the first quarter of this year. Particularly benefited from the growth of China's new car market. Passenger car sales of Volkswagen, BMW and Daimler rose 66 per cent in China, 21 per cent in the US and 1 per cent in Western Europe in the first quarter of this year, according to the report.

According to the vehicle export data reported by the China Association of Automobile Manufacturers, from January to April 2021, the top 10 automobile export companies are SAIC, Chery, Chang'an, Dongfeng, Great Wall, Geely, BAIC, Tesla, Jianghuai and Sinotruk. Compared with the same period last year, the export volume of the above ten enterprises showed a relatively rapid growth. From January to April, the above ten enterprises exported a total of 459000 vehicles, accounting for 88.9% of the total automobile exports.

[Stellantis plans to invest in battery production in Italy] the Italian government is in talks with Stellantis to discuss investment in battery manufacturing for electric vehicles in the country, according to people familiar with the matter. Stellantis chairman John Elkann and CEO Tang Weishi (Carlos Tavares), and Italy's economic development minister Giancarlo Giorgetti held a meeting in Rome to talk about the future of the country's electric vehicles, according to people familiar with the matter.