【SMM钴锂晨会纪要】5月全球特斯拉汽车销量回暖 钴镍价格上调带涨前驱体报价
[summary of SMM Iron and Steel Morning meeting] yesterday even the weak operation of the port spot market quotation was reduced by about 20 yuan / ton compared with the day before yesterday.
[macro outlook] focus on the ISM manufacturing PMI in the United States in June and the unemployment rate in the euro zone in May.
ADP payrolls in the United States changed by 692000 in June, with small non-farm data slightly higher than expected, and the job market recovery remained strong, showing strong job growth in the second quarter. The ADP report will serve as a reference for the closely watched non-farm payrolls data to be released by the U.S. Department of Labor on Friday. The cooling of eurozone inflation in June is expected to temporarily allay fears that the reopening of the eurozone economy will push up prices, but economists expect inflationary pressures to accelerate again in the second half of the year. The dollar rose again to a two-and-a-half-month high.
Metal prices were mixed yesterday and Lun copper prices rose on Wednesday, but the monthly line suffered its biggest monthly decline since March last year, as the stronger dollar, the threat of tightening US monetary policy and China's efforts to cool commodity prices pulled copper prices back from record highs. In terms of the internal market, the night market of Shanghai nickel withdrew sharply, falling by more than 2%, and the price of Shanghai tin also fell sharply, finally recording a drop of 1.46%. Black system, thread, iron ore concussion uplink.
U. S. stocks closed mixed on Wednesday, with the S & P hitting another all-time closing high. All three major stock indexes rose more than 12 per cent in the first half of the year. The market is reviewing the June ADP employment data and the May contract report on second-hand housing sales, and is waiting for more economic data on the labour market, such as non-farm payrolls. The Dow closed up 210.22 points, or 0.61%, at 34502.51; the Nasdaq was down 24.38 points, or 0.17%, at 14503.95; and the S & P 500 was up 5.70, or 0.13%, at 4297.50.
Crude oil futures rose on Wednesday after the United States reported a sixth straight week of decline in crude oil inventories and an Organization of Petroleum Exporting countries (OPEC) (OPEC) report predicted a shortage in the market this year. Oil prices recorded monthly and quarterly increases.
In precious metals, gold rose slightly as investors were cautious about the upcoming US jobs data, which could add to concerns about a reduction in Fed asset purchases.
All three major A-share indexes closed red yesterday, with the Prev up 0.5 per cent and the Shenzhen Composite Index up 1.08 per cent. The lithium battery sector rose in the afternoon, and the Ningde era rally led the gem index to refresh the year's high of 3476 points, the highest level since June 2015. Semiconductor chip industry chain soared throughout the day, intelligent driving, digital currency, photovoltaic, rare earth permanent magnet performance. In the first half of the year, the mass entrepreneurship and innovation index performed well, with the gem up 17 per cent, followed by the Kechuang 50 index up 14 per cent, the Prev up 3.4 per cent and the Shenzhen Composite Index 4.78 per cent.
LME inventory
Macro focus
[Dallas Fed President: the Fed will avoid a repeat of the 2013 downsizing storm this time.] Dallas Fed President Robert Kaplan said the Fed's tapering of asset purchases-which he hopes will start "soon"-will go more smoothly because investors already know it is being discussed.
[interpretation by the Bureau of Statistics: China's manufacturing purchasing managers index was basically flat in June, the expansion of non-manufacturing business activity index slowed] in June, China's manufacturing purchasing managers index, non-manufacturing business activity index and composite PMI output index were 50.9%, 53.5% and 52.9% respectively, down 0.1,1.7 and 1.3 percentage points from the previous month, but all remained above the critical point. China's economic operation continues to maintain the trend of expansion.
[Delta virus cases cover almost all states in the United States] according to US media reports on the 29th, the number of cases infected with novel coronavirus Delta strain in the United States is rising, with reported cases covering almost all states in the United States. According to the Centers for Disease Control and Prevention, one out of every five confirmed cases of novel coronavirus in the United States is infected with Delta virus. U. S. health experts and officials are concerned that areas with low vaccination rates could see a surge in Delta infection this autumn and winter.
From June 21 to 26, Comrade Xia Nong, a first-class inspector of the Industrial Development Department of the National Development and Reform Commission, led a team to Tibet to carry out special research on characteristic industries. During this period, the research team went deep into the relevant districts and counties of Shannan City and Xigaze City to understand on the spot the current situation, difficulties and problems in the development of characteristic industries, listen to the opinions and suggestions of all parties, and study and promote the next step of work.
[central bank and other six departments: financial institutions should strengthen financing security for grain and other important agricultural products] the central bank and other six departments jointly issued the "opinions on Financial support, consolidation, expansion, Poverty Alleviation and key achievements in promoting Rural Revitalization in an all-round way." we should give full play to the joint efforts of credit, bonds, equity, futures, insurance and other financial sub-markets to enhance the pertinence and maneuverability of the policy. The "opinions" put forward, Financial institutions should focus on consolidating and expanding the achievements of poverty alleviation, increase the tilt of financial resources in key counties for the revitalization of rural areas, strengthen the financing guarantee for grain and other important agricultural products, establish and improve the financing support system for the development of seed industry, support the construction of a modern rural industrial system, increase capital investment in agricultural and rural green development, and study effective models to support rural construction actions. Do a good job in eight key areas, including comprehensive financial services for the integrated development of urban and rural areas. Increase investment in financial resources.
[the Financial Stability Board recommends reforming the regulation of money market funds to fix problems exposed in the early stages of the epidemic.] the Financial Stability Board of the United States released a 63-page report on Wednesday recommending a comprehensive reform of the regulation of money market funds. the aim is to repair the problems exposed by the market turmoil in the early stages of the epidemic, which led to the freezing of important financial markets. Money market funds should punish investors who want to make money quickly during a crisis, the report said. In a series of recommendations to financial regulators around the world, the FSB also recommended that investors should be banned from investing all their money. Funds should charge investors for early or large-scale redemptions, "especially when the cost of liquidity is particularly high," the report said.
[the Biden administration is considering a new executive order to restrict large companies] according to people familiar with the matter, the Biden administration is considering an executive order that will instruct agencies to step up oversight of industries that they believe are dominated by a small number of companies. It will be a wide-ranging attempt to limit the influence of large companies in the economy. It is reported that Biden could sign the executive order as soon as next week, which will require regulators in industries such as aviation and agriculture to rethink the rulemaking process to promote competition and give consumers, workers and suppliers more rights to challenge large producers.
At one point, the yield on the 10-year Treasury note fell below 1.45%, its lowest level in more than a week.
Today's focus
[SMM monthly outlook: copper concentrate supply pre-increase consumption enters off-season July copper price center of gravity or downward shift] entering the second half of the year, with the release of some new production capacity, copper concentrate supply may further increase. With the end of the smelter overhaul, it may return to the accumulation cycle. Entering July, with the peak of macro liquidity and the advent of the off-season of fundamental consumption, SMM expects copper prices to shift down as a whole in July, fluctuating between 65000 and 68000. "View details
[SMM aluminum rod processing fee market: multi-site processing enterprises limit production and transportation aluminum rod processing fee continues to fall] domestic electrical round aluminum rod processing fee continues to be weak, Shandong 1A60pu aluminum rod processing fee ex-factory price of 150-400 yuan / ton, the average price recorded 275 yuan / ton, down 75 yuan / ton compared with yesterday. The processing fee of 1A60 aluminum rod in Henan area is 180-260 yuan / ton, and the average price is 220 yuan / ton. "check the details
SMM analysis of overseas lead ingots have squeeze conditions? Under the continuous action of the recovery of overseas consumption and the slow recovery of lead ingot supply, the imbalance between supply and demand has led to the uninterrupted decline of lun lead in the past two months. On the other hand, the fundamentals of lead ingots continue to be strong on the outside and weak on the inside, the Hulun ratio narrows rapidly, and the export window of lead ingots may open, or ease the pattern of excess supply of lead ingots at home, resulting in a rise in the overall center of gravity of "View details
SMM comment: the continuous rise of Lun lead leads to export opportunities under the strong external market and weak internal market of Shanghai lead. Overseas lead prices are rising, and consumption is on the rise. Although domestic lead prices are rising, the spot market is deserted and not keeping up with the pace. The performance of the battery market is still tepid, and the order situation shows no obvious signs of peak season. According to SMM research, it is difficult for domestic battery manufacturers to raise prices in July, and their profits may narrow, while the incremental elasticity of the supply side increases after the repair of recycled lead profits, and the domestic lead ingots show a slight surplus. So, is there an opportunity to export semi-finished products such as lead ingots and battery grids? Let's take a look at the exclusive research and analysis of SMM. "View details
SMM monthly outlook for the last day of June, Shanghai tin set a new high in July, can the strength continue? Tin prices continued to fluctuate in June. by the day's close on June 30, the main contract between Shanghai and tin was 214620 yuan / ton, up 2.7% from 209000 yuan / ton on May 31 and 5620 yuan / ton last week. During the period, the market pulled up to a monthly high of 214840 yuan / ton at the end of June 30, and at the same time refreshed the all-time high. "View details
[SMM Express Shanghai tin market supply at the end of the month is still the key point] spot, the current smelter shipping willingness is general, downstream fear of heights and caution to take goods, but the market long-term demand is optimistic, the overall spot rising water is relatively stable. "View details
[SMM monthly outlook for July nickel price volatility upward trend unchanged at 132000-142000 yuan / ton] Shanghai nickel entered a new platform shock in June after breaking through the upper edge of the shock range since mid-May this year. By the day's close on June 30, the main contract for Shanghai Nickel was 138060 yuan / ton, up 4.3% from 132890 yuan / ton at the end of the previous month and 5710 yuan / ton last week. During this period, it rose to 139070 yuan / ton on June 25, the highest of the month, and once approached the 140000 mark. "View details
[SMM Hangzhou thread weekly inventory rumors of environmental protection production restrictions continue to be sold in the off-season lukewarm Hangzhou inventory + 1.40%] as of June 30, Hangzhou Social Treasury was 872000 tons, up 12000 tons from last week, an increase of 1.40% over the previous week. A decrease of 177000 tons over the same period last year, a decrease of-16.87% over the same period last year. "View details
[the first phase of Fu'an Qingtuo stainless steel cold rolling and deep processing supporting project has been completed and put into production] on the morning of June 28, the Ningde Municipal Party Committee and Municipal Government held activities for the start and completion of major projects in the second quarter of 2021. At present, the first phase of Fu'an Qingtuo stainless steel cold rolling and deep processing supporting project has completed the equipment installation, successfully carried out trial production, and has the conditions for completion. "View details
[SMM magnesium ingot spot KuaiBao magnesium price drops] SMM June 30: the mainstream ex-factory price of 90 magnesium ingots in Fugu area today is 19100 yuan / ton-19300 yuan / ton, and the mainstream ex-factory price of 95B magnesium ingots is 20300 yuan / ton-20500 yuan / ton. The ex-factory price of 90 magnesium ingots in today's main producing areas is lower than that of yesterday. Please refer to the detailed quotation and the reasons for the changes. "View details
[SMM gallium industry analysis: gallium oxide "wafer production success to promote gallium consumption is limited] by the Japanese electronic parts enterprise Tamura production Institute and AGC and other funding established Novel Crystal Technology in the world's first successful mass production of a new generation of power semiconductor material" gallium oxide "made of 100mm wafers. SMM interviewed the management of large manufacturers related to gallium trioxide in the market, who said that, Novel Crystal Technology itself buys gallium trioxide from China to produce wafers, and the current industry also estimates the short-term consumption of gallium trioxide in the future. It is possible that the development of this technology will increase domestic consumption of gallium by 15 tons a year. "View details
[SMM Daily Review: praseodymium-neodymium metal prices continue to rise. Downstream enterprises hold a wait-and-see attitude] SMM June 30: praseodymium-neodymium metal prices continue to rise today, according to the SMM price on the 30th the average price of praseodymium-neodymium metal rose 7500 yuan / ton, reaching an average price of 592500 yuan / ton. Although the price of praseodymium and neodymium metal has recently ushered in a continuous rise, NdFeB enterprises said: the downstream order quantity has not increased with it, and the price rebound in a short period of time will not be reflected in the increase or decrease of orders in time. "View details
[SMM Analysis Rio Tinto Announces suspension of July Titanium imports by South African RBM] SMM June 30, due to the upgrading of the local security situation, Rio Tinto (Rio Tinto) announced that the business of (RBM), a South African Richards Bay mining company, will be suspended due to force majeure and will resume after the safety situation has improved. "View details
Important news of metals and industry
[Hebei and Henan copper wire and processing enterprises stop production] according to SMM research, in order to ensure Beijing's recent air quality, copper processing and copper terminal enterprises in different areas in the north have been notified by higher environmental protection departments to strengthen control measures as follows: most enterprises in Henan stopped production from the 28th to July 1, and some enterprises in Hebei, Handan, Tangshan, and Cangzhou stopped production from the 29th to July 1. In addition, it is reported that all kinds of construction sites, such as construction sites, demolition sites, and linear projects, have stopped production, and strictly implement the requirements for the prevention and control of dust pollution, strictly cover them, and increase the frequency of sprinkling water to suppress dust, so as to ensure that they can not afford to raise dust. Follow-up impact SMM will continue to track.
After four rounds of negotiations between Anto and China's mainstream copper smelters, Anto reached an agreement on TC of copper concentrate in the first half of next year on June 30th.
[Finnish Hautarampi cobalt-nickel copper mine has greatly increased] the ore resources of the Hautarampi (Hautalampi) cobalt-nickel copper project in Finland have increased by 100%, and the amount of metal in the mine license area has increased by 50%.
[Hebei multi-local aluminum cable and aluminum processing enterprises limit or stop production] according to the investigation and understanding of SMM, aluminum processing enterprises in different areas of northern China received an urgent notice from the environmental protection department at a higher level demanding that the control and control of pollution sources be strengthened, and a number of cable enterprises in Hebei requested that production be suspended from 00:00 on June 29th to July 3rd. In Beijing and its surrounding areas, except for the needs of urban people's livelihood and new energy vehicles, vehicles transporting bulk materials such as building materials, sand and gravel aggregates, as well as dregs and construction waste are prohibited from taking to the roads, and earthwork excavation operations are stopped.
[green Mei High Purity Co., Ltd. plans to build an annual production capacity of 100000 tons of battery-grade high-purity nickel cobalt salt crystal project] Green Mei announcement, wholly-owned subordinate companies invest in the construction of 100000 tons of battery-grade high-purity nickel cobalt salt crystal (nickel sulfate, cobalt sulfate and cobalt chloride crystal) project, the total investment of the project is 310 million yuan, and the sales revenue of the project is expected to reach 4.98 billion yuan in the normal production year.
[Shougang shares: the net profit in the first half is expected to increase by about 542% over the same period last year] Shougang shares announced that it is expected to make a profit of about 3.36 billion yuan in the first half, an increase of about 5 In the first half of the year, the company completed issuing shares to purchase assets, and its profitability was further enhanced.
[Heshan Iron and Steel Co., Ltd.: expected first-half net profit will increase by 102% muri 131% over the same period last year] the company announced that it is expected to make a net profit of 14-1.6 billion yuan in the first half, an increase of 102.05% to 130.91% over the same Steel market prices rose sharply in the first half of 2021, the company's product profitability increased significantly, and the half-year performance in 2021 increased significantly compared with the same period last year.
[Taiyuan stainless Steel: expected first-half profit of 4.68 billion yuan-4.97 billion yuan over the same period of last year an increase of 693.18%-4.97 billion yuan on a year-on-year increase of 693.18%-4.97 billion yuan over the same period last year, an increase of 693.18% on a year-on-year increase of 742.33%. In the first half of the year, due to the impact of macroeconomic recovery, the demand of the downstream industry of iron and steel products has increased, and steel prices have risen.
[task Analysis of crude Steel production reduction in Anhui Province in the second half of the year] A symposium on crude steel production reduction was held in Anhui Province on June 29th. In order to complete the target task of crude steel production assessment in Anhui Province in 2021, it was required that this year's crude steel output should not exceed 2020.
[Australian Mineral exports record] the latest estimates show that Australian exports of resources and energy products will reach a record A $310 billion in fiscal year 2020, nearly half of which will come from iron ore. Its exports will further increase to A $334 billion in fiscal year 2021, and prices will fall to A $304 billion in fiscal year 2022 due to moderation in economic growth.
[photovoltaic industry chain price contradiction slows down: Silicon material price temporarily stabilizes silicon wafer price reduction] the latest monitoring data released by the Silicon Branch of China Nonferrous Metals Industry Association show that polysilicon prices continue to stabilize this week. In the first half of this year, the prices of silicon materials and wafers in the upper reaches of the industrial chain rose one after another, bringing greater pressure to the middle and lower reaches of enterprises, the stabilized silicon prices indicate that the contradiction between the upstream and downstream of the industrial chain has slowed down. The reporter also noted that recently, the price of silicon wafers announced by Zhonghuan, a supplier of single crystal wafers, was also lower than that of a month ago.
The first single crystal silicon rod of Qinghai Gaojing Solar Energy has been successfully produced! Qinghai Gaojing Solar Energy is the monocrystalline silicon rod production base set up by Guangdong Gaojing Solar Energy in Xining, Qinghai Province, which mainly carries out the R & D and manufacturing business of large-size silicon rods. With a total investment of about 18 billion yuan, the project signed a contract to land in Nanchuan Industrial Park, Chengnan District, Xining City, Qinghai Province in February 2021. On March 12, the groundbreaking ceremony was held in Gaojing, Qinghai, and the first phase of 15GW was successfully ignited and put into production on June 15. From the start to the ignition, it took only 93 days, creating a "high scene speed" praised by the industry. The first single crystal silicon rod of Gaojing Solar Energy in Qinghai Province was drawn at 22:00 on June 28th, 2021. In the following 3 hours, a total of 5 10-inch 4300 mm single crystal silicon rods were successfully produced, announcing that Qinghai Gaojing has taken a solid first step towards achieving the manufacturing goal of 50GW single crystal silicon rods.
The Kazakh energy minister said OPEC + would discuss whether to increase production in August or September.
[Goldman Sachs: the supply gap can reach 5 million b / d by the end of the year OPEC+ needs to increase crude oil supply to balance the oil market] Goldman Sachs Commodity Research said that due to looming supply risks in other regions, the Organization of Petroleum Exporting countries and allies (OPEC+) need more oil production to balance the market by 2022. The bank believes that oil demand will increase by an additional 2.2 million b / d by the end of the year, resulting in a supply shortfall of 5 million b / d, far more than Iran and shale oil producers can put into production.
Terminal information
[Midea: subsidiary Meizhi Optoelectronics gem listing application accepted] Midea announcement, its subsidiary Meizhi Optoelectronics Technology Co., Ltd. initial public offering of shares and listing on the gem application was accepted by the Shenzhen Stock Exchange.
[Gree Electric Appliance: the first phase of the employee stock ownership plan of the company was examined and approved by the shareholders' meeting] Gree Electric Appliance announced that the company held the resolution of the 2020 annual general meeting on the same day, and there was no case in which the motion on the first phase of the employee stock ownership plan (draft) of Zhuhai Gree Electric Appliance Co., Ltd. was negatived. The number of votes agreed accounted for 75.7496% of the shares held by all shareholders present at the meeting. Objection accounted for 20.9809%; abstention accounted for 3.2695%.
[two-connected board Jinchen shares: photovoltaic heterojunction high-efficiency battery chip PECVD equipment project is still in the research and development stage] two-board Jinchen share announcement, photovoltaic heterojunction (HJT) high-efficiency battery chip PECVD equipment project is the company's private stock offering project, which is still in the research and development stage. Recently, the first photovoltaic heterojunction (HJT) high efficiency battery PECVD equipment developed by the company has been delivered to customers, but it will take some time to test, and the test results are still uncertain whether they can meet customer needs and whether they can be mass produced, so it is expected that there will be no impact on the company's performance in the short term.
[the Operation Bureau of the National Development and Reform Commission went to Qinghai Province to carry out a special investigation on promoting the healthy development of wind power and photovoltaic power] recently, the Energy Institute of the Organization Committee of the Operation Bureau of the National Development and Reform Commission, the General Institute of Electric regulations, and the National Electroweb Energy Institute went to Qinghai Province to carry out special research on promoting the healthy development of wind power and photovoltaic power. The research team and his party went to the Republic Photovoltaic Park and big data Center in Hainan Prefecture, Qinghai Province to conduct field research, focusing on the delivery of large-scale new energy bases and the nearby consumption of new energy. To conduct discussions and exchanges with Qinghai Provincial Development and Reform Commission, Energy Bureau and other government agencies, as well as Electroweb Company, Yellow River Company and other power enterprises, to understand the main considerations for the large-scale development of wind power and photovoltaic power generation in Qinghai Province during the 14th five-year Plan.
[Shanghai Silicon Industry: new Silicon Polymerization intends to lease purification rooms and plant facilities from Jiading Industrial Zone] Shanghai Silicon Industry announcement, the company's holding subsidiary, Shanghai New Silicon Polymerization Semiconductor Co., Ltd. (hereinafter referred to as "New Silicon Polymerization"), intends to sign a factory lease contract with the company's related party, Shanghai Jiading Industrial Zone Development (Group) Co., Ltd. (hereinafter referred to as "Jiading Industrial Zone") to lease purification rooms and factory facilities. Used for R & D and production of RF and optoelectronic chip materials. The lease lasts for a total of ten years, from July 1, 2021 to June 30, 2031, including the basic rent of the plant and the additional rent of the plant.
[Ankeri: a number of projects have been applied to domestic and foreign markets through photovoltaic enterprises] Ankeri said on the interactive platform that the company's distributed photovoltaic products include AC / DC power metering meters, Hall sensors, bus boxes and photovoltaic insulation monitoring, etc. this kind of products have clear target customers and good sales. at the same time, a number of projects have been used in domestic and foreign markets through photovoltaic enterprises.
![Guangxi Yusheng Germanium Industry organisera un appel d'offres public pour des produits de germanium le 31 [Rapport SMM].](https://imgqn.smm.cn/usercenter/jMeFI20251217171722.jpeg)
