[SMM Metal Morning participant] the Federal Reserve will not pre-emptively raise interest rates and continue to rise * the willingness of steel companies to reduce production increases * imports of cobalt intermediate products decreased in May.

The chairman of the Federal Reserve reiterated the dovish position that non-ferrous metals continue to rebound and the S & P 500 index is close to an all-time high.

[macro outlook] pay attention to the initial value of Markit manufacturing PMI in June in the United States and Europe.

Overnight non-ferrous metals rose again as the Fed chairman reiterated his dovish position. Among them, Lun Nickel rose 1.66%, Shanghai Nickel rose 2%, and Nickel led the rise in both markets. SMM believes that due to the low level of domestic nickel plate inventory and the sharp rise in sticker water, the import window of Nickel Board has been opened, and Shanghai Nickel is expected to continue to maintain strong shocks in the near future. In addition, it is worth paying attention to the monthly change of the main force of Shanghai nickel, taking into account the position restrictions of the exchange, the bulls are expected to choose the opportunity to stop earnings or change the month in the coming week, and the nickel price is expected to fluctuate in a wide range of 130000-135000 yuan / ton.

The dollar index fell on Tuesday, and Federal Reserve Chairman Colin Powell attended a House hearing yesterday, where he reiterated the dovish position that the Fed will continue to promote a broad and comprehensive recovery in the job market and will not raise interest rates in advance simply for fear of soaring inflation. On the issue of raising interest rates, which is of greatest concern to the market, Powell said that the Fed will not pre-emptively raise interest rates for fear of possible inflation, but will wait patiently for evidence of actual inflation or other imbalances.

In terms of US stocks, the three major indexes closed higher for two days in a row, technology stocks led the market higher, assists the Nasdaq closed at a new high, and the S & P 500 index was also close to an all-time high. By the close, the Dow was up 0.20% at 33945.58, the S & P was up 0.51% at 4246.43, and the NASDAQ was up 0.79% at 14253.27.

In terms of crude oil, oil price volatility weakened and crude oil prices closed slightly lower, as the OPEC+ alliance of the Organization of Petroleum Exporting countries ((OPEC)) and its allies discussed increasing oil production, and Brent crude rose above $75 a barrel for the first time in more than two years.

In terms of precious metals, gold prices fell slightly, and Powell said overnight that the Fed would not pre-emptively raise interest rates and that the inflationary factor would weaken over time.

Yesterday, the Shanghai Stock Exchange 50 and other weights stopped falling and rebounded to drive the Prev higher, the gem index bottomed out and rebounded at the top of the box, the trading volume of the two cities exceeded trillion yuan for three consecutive trading days, individual stocks rose more and fell less, and market sentiment continued to pick up. Oil and gas stocks opened higher, PetroChina rose 5%, setting a new rebound high, the recent new performance eye-catching. Technology stocks, which have been rising for many days, were adjusted today, Hongmeng concept stocks and Guochang software led the decline, and most of the third-generation semiconductors fell. Stimulated by the news, the agricultural sector showed a strong performance, driving up agricultural farming, glyphosate, and ecological agriculture. In the afternoon, rare earth permanent magnets, carbon neutralization and coal changed, defense and military industrial stocks continued to rise, and Morninglight Airlines rose nearly 130% since June. On the market, agricultural planting, China Shipping system, transportation equipment and so on led the increase. As of the close, the Prev index rose 0.81% to close at 3557 points, the Shenzhen Composite Index rose 0.38% to close at 14696 points, and the gem index rose 0.35% to close at 3281 points.

LME inventory

Macro focus

[Li Keqiang presided over a meeting of the leading Group for the Development of the Western region of the State Council] Li Keqiang said: the main body of the market is the micro foundation of the market economy, and the western region should enhance its sense of urgency in cultivating and strengthening the main body of the market and enhancing economic vitality, deepen the reform of "management and service," optimize the business environment, promote mass entrepreneurship and innovation, and enhance the momentum of enterprises to enter the market. We will open wider to the outside world and effectively attract investment and technology. It is necessary to cultivate and develop characteristic and emerging industries, support the upgrading of traditional industries to the middle and high end, give full play to the advantages of wind, light, water, electricity and mineral resources, enhance the country's ability to guarantee energy and resources, raise the level of infrastructure, and strive to promote green development.

The Ministry of Finance issued local government bond issuance and debt balance in May 2021: in May 2021, 875.3 billion yuan of local government bonds were issued nationwide. Of this total, 422.9 billion yuan was issued for general bonds and 452.4 billion yuan for special bonds.

[Ministry of Foreign Affairs: "Belt and Road Initiative" circle of friends has continuously expanded cooperation in various fields and achieved fruitful results] on June 23, the "Belt and Road Initiative" high-level meeting on international cooperation in the Asia-Pacific region will be held in video format. A reporter asked: what are China's considerations and expectations for this meeting? Zhao Lijian said: this is a high-level "Belt and Road Initiative" international conference with a wide range of participation, which reflects the attention and support of all parties to "Belt and Road Initiative." Zhao Lijian said: at present, the circle of friends of "Belt and Road Initiative" is constantly expanding, 140 countries and 32 international organizations have joined the "Belt and Road Initiative" family, and cooperation in various fields has achieved fruitful results and become a popular global public goods.

[Powell reiterated the dovish position] the Fed will continue to promote a broad and comprehensive recovery in the job market and will not raise interest rates in advance simply for fear of soaring inflation. On the issue of raising interest rates, which is of greatest concern to the market, Powell said that the Fed will not pre-emptively raise interest rates for fear of possible inflation, but will wait patiently for evidence of actual inflation or other imbalances.

Today's focus

[SMM research: SMM visits the current situation of wire and cable enterprises with high copper prices in the hometown of cable in China] SMM in the early days of the 2021 electricity union, in order to investigate the current operating situation of wire and cable enterprises under sharp fluctuations in copper prices, to help enterprises improve their sensitivity to changes in the market, maximize the rational use of SMM price settlement, so as to help enterprises reduce transaction costs and effectively control risks for a long time. Members of the SMM Copper Division visited Yixing City, Jiangsu Province, the hometown of wires and cables in China. This time, SMM visited 9 Yixing warehousing and logistics enterprises, copper processing materials enterprises, wire and cable enterprises, enamelled wire enterprises, etc. Under the continuous pressure of high copper prices, how to check the details of the current business situation?

[recycled copper daily review: copper price slightly warms up, the holder's willingness to ship improves] the copper price picks up slightly, which improves the shipper's willingness to ship and increases the circulation of goods in the market. recently, the inventory of waste enterprises in the lower reaches is tight, and the demand for replenishment is strong. Actively enter the market to purchase recycled copper, trading can still check the details.

[aluminum prices stopped falling and rebounded and recycled aluminum prices stabilized] yesterday, aluminum prices stopped falling and rebounded and ended four consecutive overcast. SMM A00 aluminum prices rose 130 yuan / ton to 18510 yuan / ton, and recycled aluminum prices stabilized. In terms of domestic prices, the quotations of large domestic recycled aluminum enterprises remain unchanged, maintaining 18150-18450 / ton; with the gradual entry into the traditional off-season, recycled aluminum prices are easy to fall and difficult to rise, downstream consumption is not prosperous, the transaction is not good, and the supply of goods at low prices in the market increases, resulting in the current oversupply situation will continue. In the case of weakening demand, the price of recycled aluminum is expected to stabilize or continue to adjust in the near future, but there may be some support at 17500 yuan / ton in the short term. "check the details.

[nickel pig iron trading daily review: the price quoted by the holder at the 1200 gate has not yet reached this level] on June 22, SMM high nickel pig iron 1170 yuan / nickel point (including factory tax), the average price of nickel pig iron in Indonesia was 1175 yuan / nickel point (including tax to Hong Kong), and the price in the nickel iron market continued to rise. Today's iron factory quotation is concentrated at 1190-1200 yuan / nickel point (including factory tax), but the buyer's intention price varies greatly. The intended price of the steel mill remains at 1175-1195 yuan / nickel point (including tax to the factory). There are few transactions in the day. Centralized inventory may appear, and the price center of gravity has a tendency to continue to move upward. "check the details."

[SMM stainless steel spot information: stainless steel SS contract rose close to the previous high spot price] 22, stainless steel 304spot market price slightly increased, 304cold rolled rough edge coil price of 16600-17100 yuan / ton, the average price increased by 100yuan / ton, 304hot rolling reported 15900-16100 yuan / ton, the average price increased by 50 yuan / ton. According to traders, due to the mismatch of supply specifications in Wuxi and Foshan, there is a shortage of supply of some demand specifications, and prices in Foshan have risen in the afternoon yesterday. Futures contract prices are strong, driven by sentiment, there is also a small increase in the spot market. "check the details."

[SMM billet adjustment operation rate] according to SMM research, as of June 22, the operating rate of billet adjustment steel mills mainly producing building materials was 63.54%, which was 4.32% lower than that of 67.54% in May and 19.13% lower than that of the same period last year. "check the details.

[SMM exclusive: the scope of losses continues to weaken and steel companies expand their willingness to reduce production] according to SMM's survey of 34 independent electric arc furnace steel mills that produce building materials, the operating rate was 78.53% as of June 2, down 3.59% from last week. The price of thread in this cycle (6-15-6-22) has declined sharply. As of today, the national average price is 4832 yuan / ton, which is 226yuan / ton lower than that on June 15. From the point of view of the profit level of steel enterprises, the regional differentiation is relatively obvious. According to the survey, the average profit per ton of steel in southwest China is about 200 yuan / ton, which is OK, and the operating rate remains high; most of South China is on the verge of losing money, and most EAF steel mills have signs of actively reducing production. "check the details.

[MMi iron ore port spot index report (22)] yesterday even iron continued weak operation, the port spot market early quotation than yesterday basically maintained stability, there is room for bargaining. The quotations of some merchants in the afternoon have been slightly raised by about 0-5 yuan / ton, the inquiry enthusiasm of steel mills today is higher than that of yesterday, and the overall market transaction atmosphere is better than that of yesterday. "check the details.

[SMM hot rolled goods: Shanghai ushered in phased concentrated delivery under the attraction of high prices] according to SMM statistics, this week, it is estimated that the total market resources will arrive at 255800 tons, an increase of 800 tons, or 0.31%, from the previous month. Sub-market point of view, the Shanghai market: this week, the market delivery continues to grow month-on-month, in recent weeks there is a concentrated delivery phenomenon, greater pressure on the input of resources. At the same time, due to the suspension of unloading at the BG terminal and the concentration of Northwood resources to other terminals, there is a phenomenon of pressure on the port. up to now, the unloading cycle of the LJ terminal may reach a week or so. "check the details.

[minutes: review and Prospect of the New Energy Industry in 2021] Global sales of new energy passenger vehicles will continue to grow at a high rate of 25% in the next 10 years and reach the level of 30 million vehicles in 2030. Well, from the perspective of sub-regional markets, China, Europe and the United States will become the three main driving markets. Starting from the third quarter of 2020, the demand for cathode materials increased obviously, and the marginal amount of lithium carbonate storage decreased gradually. until the end of the fourth quarter, domestic supply even fell short of demand. From 21 years onwards, lithium salt enterprises began to scale up, and the market gradually appeared surplus. Lithium carbonate prices began to decline slightly. "check the details.

[SMM analysis: imports of cobalt intermediate products reduced in May. There is a large gap in raw material inventory.] in May 2021, China imported 7300 tons of cobalt raw materials, a decrease of 31% from the previous month and an increase of 95% over the same period last year. In May, cobalt wet smelting intermediates imported 6300 tons of metal (converted at 27% grade), a month-on-month decrease of 34% and a year-on-year increase of 93%. In May, the average import price of cobalt wet smelting intermediates was 54115 US dollars per metal ton, down 1 per cent from the previous month and up 97 per cent from a year earlier. This paper discusses the import volume of cobalt raw materials, the corresponding price and the balance of domestic cobalt raw materials.

[SMM magnesium ingot spot KuaiBao: transaction reduction magnesium price drop] affected by the previous rise in coal prices, magnesium price growth is too fast, the current high magnesium price decline is normal, coupled with the psychological impact of buying up and not buying down, with the decline in magnesium prices, the market turnover slowed down at the beginning of the week, and the wait-and-see mood downstream is strong. Some magnesium factory sales staff said that factory inventory remained low, due to fluctuations in raw material prices and environmental factors, a number of factories are planning to overhaul in the near future. Due to the high operation of coal prices affected by coal safety inspection, the inventory of magnesium ingots in various factories is low, and under the support of cost and inventory, there is limited room for magnesium price callback this week. "View details.

[brief Analysis of SMM Antimony oxide Import and Export] according to customs data, China imported 47.25 tons of antimony oxide in April 2021, a sharp drop of 103% from the previous month. In April 2021, China exported 3039.62 tons of antimony oxide, a sharp drop of 48.66% from the previous month. "check the details."

Minutes of SMM meeting: what is the trend of rare earth prices rising and falling in the second half of the year? In the short term, with the arrival of this round of decline in rare earths, many enterprises are facing the pressure of cash flow. June and July belong to the off-season of the magnetic materials industry, and downstream purchases are generally more cautious. Upstream enterprises are also facing cash flow pressure, some enterprises follow the market, low-cost shipments, continue to suppress market confidence. SMM expects terbium oxide to reach 700-8 million / ton during the period from August to September; dysprosium has relatively little elasticity and is expected to reach as high as 250-2.6 million / ton in the second half of the year; praseodymium and neodymium are expected to sprint 500000 / ton again.

[minutes: lithium prices in the global new energy vehicle market will continue to rise and stabilize] the global sales of new energy passenger vehicles will continue to grow by as much as 25% in the next 10 years, and reach the level of 30 million vehicles by 2030. Starting from the third quarter of 2020, the demand for cathode materials increased obviously, and the marginal amount of lithium carbonate storage decreased gradually. until the end of the fourth quarter, domestic supply even fell short of demand. From 21 years onwards, lithium salt enterprises began to scale up, and the market gradually appeared surplus. Lithium carbonate prices began to decline slightly. "check the details.

[SMM analysis: tin prices stop falling after continuous decline and spot prices rise strongly] fundamentals, in terms of tin mines, there are rumors in the tin concentrate processing fee industry that it will be increased. Market participants said that the import of tin concentrates was affected because epidemic workers could not return to work in time, but the secondary material supply in the market made up for this part of the gap. Generally speaking, the market was full of raw materials. In terms of tin ingots, the low processing fees have led to a low enthusiasm for refinery production. In addition, the power cuts in Yunnan have not yet been fully restored, and tin ingot production needs a certain cycle, and the shortage of supply supports the spot discount to remain firm. "check the details.

[SMM special topic: inflationary pressure burst table many countries have announced interest rate hikes! A shift in the direction of the global currency wind? Due to the massive economic stimulus from the United States and other central banks, the prices of commodities and agricultural products soared in many parts of the world, resulting in great pressure on global inflation. Data show that the US CPI data for May continued to maintain an upward momentum. Among them, overall CPI surged 5% in May from a year earlier, exceeding expectations by 4.7%, the highest growth rate since August 2008. In order to cope with high inflation, the Federal Reserve maintained the federal funds rate and bond purchase program at its latest meeting, but predicted that the first rate increase would be advanced to 2023, and it was the first time to discuss reducing QE. Commodities have been hit by the Fed's decision to strengthen the dollar. As the global epidemic continues to improve and the economies of many countries recover, some countries have begun the process of raising interest rates since the beginning of this year. "check the details."

[SMM reported: Gree stock price continued to decline "50% discount" employee stock ownership plan caused controversy "Gree house delivery" and then hot search) "thousands of calls for the final appearance", the largest employee stock ownership plan of 000651.SZ (Gree) has finally landed. On June 20, Gree Electric Appliances issued an announcement that the total number of employees who intend to participate in the employee stock ownership plan does not exceed 12000, and the capital scale does not exceed 3 billion yuan. The announcement shows that the purchase price of the employee stock ownership plan is 27.68 yuan per share, which is only half of the closing price on June 18, and Dong Mingzhu subscribed for 30 million shares, accounting for 27.68% of the whole plan, which means that if the relevant conditions are met, Dong Mingzhu, who is not far from retirement, can pocket 780 million yuan "pension" for details.

Important news of metals and industry

[Guanxuan] State Grain and material Reserve Bureau: the total sales volume of the first batch of national reserve copper in 2021 decided to be put into operation in 2021 is 20,000 tons, the total sales volume of zinc in the first batch of state reserves is 30,000 tons, and the total sales volume of aluminum in the first batch of state reserves is 50,000 tons.

Hot stocks: Oriental zirconium industry rose by the daily limit for two days in a row! Accelerated resource development & continued capacity expansion] yesterday, the eastern zirconium industry rose by the afternoon limit. Since the beginning of this week, the oriental zirconium industry has achieved two consecutive limit boards, and its share price has risen to a high in early August 2020. It is reported that on the evening of June 21, Oriental Zirconium Industry announcement disclosed two announcements to promote the Australian zirconium mine project: one is to restart the Minrui zirconium industry Mindarie project; the other is to set up a joint venture with Hong Kong Baisheng Co., Ltd. to promote the progress of the WIM150 project. "check the details.

[Ministry of Industry and Information Technology: the cost impact of the sharp rise in raw material prices on downstream industries and small and medium-sized enterprises continues to show] on 21 June, Wang Jiangping, member of the party group and vice minister of the Ministry of Industry and Information Technology, presided over a forum on the operation of the industrial economy in some provinces and cities in the first half of the Wang Jiangping stressed: it is necessary to make a comprehensive, objective, calm and dialectical analysis of the current economic situation, and the relatively high growth rate of major economic indicators so far this year is the result of the superposition of economic factors, policy factors, and base factors. The cost impact of the sharp rise in raw material prices on downstream industries and small and medium-sized enterprises continues to appear, and some emerging problems and hidden risks need to be paid close attention to.

[international Copper Association April Copper Prosperity Index] in April, the International Copper Association China copper demand climate index was 88.9, down 16.3 points from the previous month, and the April index was below the "cold" limit (95.7). It shows that the demand for copper in China is cold in April. China's copper demand climate index reflects the current copper consumption boom, because the absolute volume of the index is treated as a month-on-month rate of change, so the climate index indicates the degree of prosperity of the month relative to the previous month.

[Bowei Alloy responded to the 337 investigation: documents of formal acceptance of the case have not yet been received] in response to the recent investigation of the company, Bowei Alloy (601137) said on the interactive platform on June 22nd that the company has organized a special team to cooperate with relevant agencies to deal with the matter. At present, the company has not yet received the documents or notice that the case has been formally accepted, and the company is conducting research and analysis on the relevant demands, and is prepared to respond actively. Considering that it will take a long time to prepare the materials and the follow-up procedures, the company will fully assess the possible impact on the company according to the progress of the progress, and disclose the impact on the company's operation according to the final results.

[EU countries voted in favor of extending steel safeguards] EU member states voted late last week in favor of the European Commission's proposal to extend existing steel import safeguards, according to market participants. Seventeen member States approved the extension, eight opposed and two abstained. The 17 member states that voted yes represent 88% of the EU's population, and if the country that voted yes represents at least 65% of the EU's population, any proposal will be approved. However, the European Commission must still make a decision and announce the matter by the end of this month.

[Brazilian crude steel production rose 40.1 per cent in May from a year earlier] according to a report this week by the local iron and steel association IABr, crude steel production in Brazil rose 40.1 per cent in May from a year earlier to 3.1 million tons. Domestic steel sales in Brazil rose 73.9 per cent in May from a year earlier to 2.1 million tons, while total apparent steel consumption in May was 2.5 million tons, up 83 per cent from a year earlier.

[Vale reduced the risk level of the Sul Inferior dam] according to local media reports, Brazilian iron ore producer Vale has reduced the risk level of the Sul Inferior dam at its Gongo Soco iron mine from level 2 to level 1. The risk level of the dam ranges from level 1 to level 3, which means that there is a possibility of imminent collapse. The reduction of the risk level is due to the correction of the structure of the dam by Vale.

[Norilsk Nickel is launching the carbon-neutral nickel project and is expected to produce the first batch of carbon-neutral nickel this year.] according to recent reports, Sergei Dubovitsky, senior vice president of Russian mining giant Norilsk Nickel, said that in response to inquiries from companies such as Apple and Tesla, the company plans to produce the first batch of carbon-neutral nickel this year. Norilsk Nickel is launching a carbon-neutral nickel project to test the market and understand the depth of demand for such products, including the modernization of electrical equipment-replacing turbines with more efficient turbines, which will increase the share of renewable energy in energy production (Norilsk Nickel now gets 46 per cent of electricity from renewable energy). The company also announced to improve energy efficiency and optimize energy consumption.

[Indonesian Ministry of Energy and Mines proposes to restrict nickel iron and nickel pig iron smelters to encourage the construction of nickel sulfate and stainless steel plants] according to recent reports, the Indonesian government's Ministry of Energy and Mineral Resources (ESDM) proposed to restrict the construction of two types of nickel smelters, namely nickel iron (FeNi) and nickel pig iron (NPI), because these two kinds of FeNi and NPI products have low added value. By contrast, FeNi's estimated export price is $15500 a tonne. At the same time, nickel sulfate is US $20500 per ton. Therefore, the government plans to restrict the construction of smelters and the export of ferronickel and NPI, and encourage the construction of first-class smelters such as nickel sulfate or stainless steel plants.

[Mutanda, the world's largest copper-cobalt mine, is scheduled to restart by the end of the year and is expected to increase production by 20, 000 tons of cobalt a year.] according to foreign media reports, Glencore (Glencore Plc) plans to restart its copper-cobalt project in Mutanda Mining, Congo, by the end of this year, which has been idle for about two years.

[Baotou Steel shares: steel market production and marketing Liangwang rare earth prices are relatively optimistic] recently, Baotou Steel shares said on the investor interactive platform that the company's production and operation is normal. Since the beginning of this year, steel market production and sales have been booming, and the performance is good. Rare earth prices are also high, profits are also more optimistic. Corporate governance compliance, true and accurate information disclosure, there is no risk of violation of laws and regulations. In addition, with regard to the development of the company's rare earth steel, Baotou Steel Co., Ltd. said that the company involves many varieties of rare earth steel, some of which have been mass produced and sold, some are also exported, and some are still under research and development. The addition of rare earth to steel can improve the properties of wear resistance, weather resistance and corrosion resistance, which can be used in related aspects with special requirements for iron and steel properties.

[Tianqi Lithium Industry: negotiated with IGO to complete the delivery of the US $1.4 billion project by June 30] on the evening of June 21, Tianqi Lithium Industry issued a progress announcement on capital increase and share expansion of wholly-owned subsidiaries and the introduction of strategic investors, which showed that considering that the tax impact of the Canadian Inland Revenue Bureau may take a long time to review and evaluate, Tianqi Lithium Industry negotiated with IGO in order to complete the transaction as soon as possible. The parties agree to complete the delivery of the project by June 30, 2021 in accordance with the time agreed in their Investment Agreement signed on December 8, 2020. According to the previous "Investment Agreement", TLEA, a subsidiary of Tianqi Lithium Industry, planned to introduce strategic investors, Australian listed company IGO Limited,IGO, to subscribe for a total of US $1.4 billion in cash at that time when TLEA increased its registered capital by 304 million yuan.

[Galaxy magnets: the company has a strong competitive advantage in bonded NdFeB magnets] Galaxy magnets said that since the company went public, the product structure has been constantly changing. Before 2011, the proportion of magnets used for optical discs was relatively large. From 2010 to 2014, the proportion of magnets used for hard disks is relatively large; from 2010 to 2020, the proportion of magnets used for cars is relatively large. The company mainly through continuous research and development of new products, open up new applications to cope with product demand changes, to ensure a steady increase in sales revenue. The company has strong competitive advantages in the subdivision of bonded NdFeB magnets, including the advantages of scale, continuous research and development of technology and equipment, and so on.

(us media say the Biden administration is considering banning imports of polysilicon from Xinjiang, US think tanks warn: recognize reality.) on June 21, local time, the US political news website Politico quoted four people familiar with the matter as saying that the Biden administration was considering banning US imports of polysilicon, a key raw material for solar panels from China's Xinjiang region, under the pretext of so-called "forced labor." Although several US congressmen and people in the solar industry have asked the Biden administration to take action for several months in a row, some analysts have pointed out that Chinese manufacturers account for 80% of the global polysilicon production, of which manufacturers in Xinjiang account for 45%. If the United States does ban the import of polysilicon products from Xinjiang, it is likely to deal a blow to the supply chain of the US solar industry. And greatly delayed Biden's clean energy plan.

Terminal information

[national Energy Administration: it is proposed that no new large-scale power battery cascade energy storage projects shall be built in principle] the State Energy Administration shall openly solicit opinions on the "Code for the Management of New Energy Storage projects (interim) (draft for soliciting opinions)". The draft for soliciting opinions points out that the relevant units of the new energy storage project should strictly carry out project safety, fire control, environmental protection and other management procedures and implement safety responsibilities in accordance with the requirements of relevant laws, regulations and technical specifications. Before the key breakthrough of battery consistency management technology and the improvement of power battery performance monitoring and evaluation system, in principle, large-scale power battery echelon utilization energy storage projects should not be built. The power battery energy storage projects that have been completed and put into operation should regularly evaluate the battery performance, strengthen monitoring and supervision.

(there are many factors affecting battery supply, and Daimler says it wants to make its own batteries.) German carmaker Daimler wants to make its own batteries. It is not clear whether Daimler wants to produce batteries entirely on its own or in partnership with other partners. It is understood that in 2019, Daimler reached a lithium-ion battery supply agreement with Chinese battery supplier 688567.SH, which is building a factory in Germany.

[Tesla announces supercharging route in China] Tesla announced its supercharging route in China, which spans 5000 kilometers from east to west and has 27 electric vehicle charging stations along the way, according to Musk's Twitter.

[South Korea will simplify approval of hydrogen charging stations to promote hydrogen energy development] according to South Korea's newly revised air pollution prevention and control law, companies can install hydrogen charging stations by submitting simple documents to South Korea's Ministry of Environment from July. South Korea aims to install 2000 hydrogen charging stations nationwide and turn 80 per cent of energy into clean fuels by 2050.

[TSMC will give priority to automotive chips and Apple orders] according to Fab factory sources, TSMC gives priority to allocating capacity to automotive chips and Apple orders in the third quarter of this year, followed by chip orders for personal computers, servers and network equipment. Chip orders for mobile phones and consumer electronics will rank third, with sources stressing that TSMC will continue to address supply shortages and must select orders based on profitability and other reasons.

[BMW plans to significantly reduce production costs] according to foreign media, BMW's board member in charge of automobile production, Milan Nedeljkovic, said the company will reduce the cost per car by 25 per cent by 2025 compared with 2019 levels.