SMM Morning Review
Minutes of SMM Xi Morning meeting: from the trend analysis, prices at the beginning of the week broke through before the high and then weakened, and then the trend maintained with the previous high above the continuation of the shock form. Last Sunday, the change of the position difference showed an alternating increase and decrease, from this action, it is not difficult to see that the main funds did not show enough confidence in their positions at this price. On the other hand, the expectation of supply increase formed by the joint force of production and import and export trade is gradually coming into effect over time, while the growth elasticity of downstream demand in the face of falling prices is very obvious. Take it into consideration. "View details
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The market closed overnight.
On the macro front, the US ADP data and non-farm data released last week were much lower than expected, leading the market to think that the Fed may be in no hurry to tighten monetary policy, which poured cold water on the dollar, which has been declining recently. The dollar hit an intraday low of nearly a month on Friday, narrowing its closing decline to 0.09 per cent.
The weakening dollar may support the metal market again, and as of Friday's close, only Lunxi and Lunqian closed slightly lower, while other varieties closed higher. Among them, aluminum received the front high position again, while stainless steel closed up by 5.33% in a compelling manner, with an increase of more than 10% in three days! The strong trend of stainless steel is mainly due to the recent strengthening of the implementation of power and production restrictions in many areas and the fermentation of the news that the output of stainless steel plants is limited.
U. S. stocks closed mixed on Friday, with the Dow down 70 points and the Nasdaq rising slightly. Us non-farm payrolls data for August were much lower than expected, suggesting that the labor market recovery has been hampered by the spread of the Delta strain and the worsening epidemic situation in the US. Investors expect the non-farm data to prevent the Fed from withdrawing its stimulus measures prematurely.
For crude oil, international oil prices fell on Friday after a much weaker-than-expected jobs report in the United States showed an unstable economic recovery, which could mean a slowdown in fuel demand as the epidemic intensifies. However, due to the landing of Hurricane Ida, production in the Gulf of Mexico has been reduced, and the decline in oil prices has been limited against the backdrop of concerns that US oil supplies will still be limited.
In terms of precious metals, COMEX gold futures hit their highest intraday price since mid-June on Friday, also as U.S. job creation in August was much lower than expected, dragging the dollar lower and precious metals prices generally higher.
"[overnight market] Metals are mixed | the dollar hit its lowest level in nearly a month.
Today's macro focus is on China's foreign exchange reserves in August and the euro zone's September Sentix investor confidence index.
[macro outlook] on Monday, focus on China's foreign exchange reserves in August and euro zone September Sentix investor confidence index
LME inventory
Macro focus
[Zheng Wei, deputy director of the State Administration of Foreign Exchange: raising the level of trade and investment liberalization and facilitation to support the orderly and free flow of domestic and foreign elements] on September 4, Zheng Wei, deputy director of the State Administration of Foreign Exchange and a member of the party group, said in a speech at the 2021 China International Financial Annual Forum held during the 2021 Trade Fair Financial Services Exhibition that the State Administration of Foreign Exchange will pay close attention to the needs of market players and focus on the quality of policy transmission. Improve the effectiveness of the comprehensive reform. First, we will continue to raise the level of trade and investment liberalization and facilitation, support the orderly and free flow of domestic and foreign factors, continuously optimize the financial environment, help the development of the digital economy, and play a leading role in innovation. promote industrial transformation, upgrading, integration, development, quality and efficiency. The second is to promote the opening of the capital account in a safe and orderly manner, promote the pilot project of cross-border investment in equity investment funds, improve the management of foreign direct investment, and do a good job in the pilot work of multinational corporations' local and foreign currency integrated fund pool. The third is to build an open and multi-functional foreign exchange market, further enrich the products of the foreign exchange market and participants at home and abroad, and constantly improve the infrastructure system of the foreign exchange market.
[Li Keqiang: strictly control the production capacity of high-energy-consuming and high-emission industries and vigorously develop energy-saving and environmental protection industries] Li Keqiang attended the opening ceremony of Taiyuan Energy low-carbon Development Forum in 2021 and delivered a keynote speech. Li Keqiang pointed out that as the largest developing country in the world, China wants to achieve low-carbon and green development in the process of realizing socialist modernization and enabling the Chinese people to live a happy life in the middle of this century. This is unprecedented in human history and requires painstaking efforts to achieve it. We will persist in implementing the new strategy of energy security, promote the revolution in energy consumption, supply, technology and system, strengthen international cooperation in all directions, and effectively promote energy transformation. While doing a good job in the cross-cycle adjustment of macro policies, we should speed up the optimization and upgrading of the industrial structure, do "subtraction" on the one hand, strictly control the production capacity of industries with high energy consumption and high emissions, and do "addition" on the other hand to vigorously develop energy-saving and environmental protection industries. inject new impetus into the recovery of the world economy.
Zhou Liang, vice chairman of the Bancassurance Regulatory Commission, said at the 2021 China International Financial Annual Forum on Sept. 4 that since the beginning of this year, inflation in more than 80% of the economies has been rising, and the global core inflation rate has risen to its highest level in many years. The international financial market is volatile, the stock market, bond market, foreign exchange market and commodity market of many countries fluctuate greatly, and the debt burden of some countries is heavy. At the end of the first quarter, the global debt balance reached about $289 trillion, equivalent to 360% of global GDP, an all-time high.
Zheng Wei: since the beginning of this year, the two-way fluctuation of the RMB exchange rate has increased, but generally at a reasonable and balanced level. Zheng Wei, deputy director of the State Administration of Foreign Exchange, said at the 2021 China International Financial Annual Forum that the two-way fluctuation of the RMB exchange rate has increased since the beginning of this year, reflecting the complexity of changes in the international market and an improvement in the degree of marketization of China's exchange rate. However, on the whole, it remains basically stable at a reasonable and balanced level, reflecting the long-term development trend of China's economy and the basic balanced balance of payments pattern.
[national Health Commission: cumulative reported 2.092 billion doses of novel coronavirus vaccination] according to the latest data of the National Health Commission, as of September 3, 2021, 31 provinces (autonomous regions, municipalities directly under the Central Government) and Xinjiang production and Construction Corps reported a total of 2.092174 billion doses of novel coronavirus vaccine.
Today's focus
[Guinean "regime change" government dissolves border closure concerns about bauxite supply impact] according to Russian satellite news agency, Guinean "regime change" leaders announced the dissolution of the government, the suspension of the constitution and the closure of the border. Guinean President Conte has been detained by the country's "renegade" special forces, and the insurgents have detained a number of senior officials. Sources said that fierce qiang sound was heard near the presidential palace in Conakry, the capital of Guinea, while many soldiers and military vehicles were patrolling the streets. Guinea has been one of the main sources of China's bauxite imports, and the proportion of imports has gradually increased in recent years. According to SMM, bauxite imports from Guinea accounted for 44 per cent of total imports in 2019 and 47 per cent in 2020, while the share is expected to accelerate in 2021. With regard to the impact of regime change on bauxite supply in this country, SMM will follow up the report and analysis in time. Please follow up! "View details
[SMM analysis: which listed copper foil company made the most money in the first half of 2021] in the first half of 2021, commodity prices rose as a whole against the backdrop of global economic recovery and monetary easing, especially in steel, non-ferrous and energy and chemical sectors. And copper foil enterprises sell products pricing model is copper price + processing fees, according to SMM research since the third quarter of last year, copper foil processing fees began to enter the upward channel, in addition to a sharp rise in raw materials this year, copper foil processing fees are also in the new energy industry demand expansion, continue the upward trend. In the magnificent demeanor of the whole industry, let the SMM Copper Research Group discuss with you which of the copper foil companies listed in China in the first half of this year is the most profitable? "View details
[SMM copper downstream weekly survey: consumption average weekly operating rate dropped slightly last week] last week SMM surveyed the production and sales of major copper rod enterprises in China. Overall, the operating rate was about 74.85%, 0.51 percentage points lower than last week. As copper prices continued to fluctuate at high levels, new orders for refined copper rods did not change much from last week, in terms of consumption. "check the details.
SMM industry dynamic tracking: how is the consumption performance downstream of the high fluctuation of copper price center of gravity? Last week, the center of gravity of copper in Shanghai fluctuated at a high level. What are the changes in downstream consumption? The SMM Copper Research Group brings you the latest industry developments. "View details
[SMM data: copper stocks in domestic bonded warehouses decreased by 40400 tons last week] according to SMM research, copper inventories in domestic bonded areas decreased by 40400 tons to 347700 tons on Sept. 3 compared with Aug. 27. "check the details.
[SMM mainstream copper inventory weekly data] as of September 3, SMM national mainstream copper market inventory increased by 1100 tons compared with last Monday to 131100 tons. According to SMM, imports continued to flow in last week, and some traders shipped directly to processed timber enterprises. "View details
[SMM analysis: copper cable operating rate declined month-on-month under the impact of the epidemic] according to SMM research, the operating rate of wire and cable enterprises in August 2021 was 83.77%, 1.34% lower than the previous month, and 13.25% lower than the same period last year. Among them, the operating rate of large enterprises is 88.39%, that of medium-sized enterprises is 63.32%, and that of small enterprises is 75.37%. It is estimated that the operating rate of wire and cable enterprises will be 84.97% in September. "check the details.
[SMM Alumina Weekly Review: rumors of production reduction stimulate price increases and focus on the sustainability of high prices] as of last Friday, the SMM regional weighted index was 3074 yuan / ton, up 317 yuan / ton from last Friday, 11.5% month-on-month and 30.3% year-on-year. Shandong, Shanxi, Henan, Guangxi and Guizhou reported 3050-3100 yuan / ton, 3050-3150 yuan / ton, 3050-3150 yuan / ton, 2900-2950 yuan / ton and 2900-2950 yuan / ton respectively. Alumina prices soared last week, breaking new highs this year. "check the details
[SMM takes you to explore petroleum coke] since the second half of 2020, the domestic petroleum coke market has continued to rise, repeatedly brushing new highs, so what exactly is petroleum coke and what industry this product is used in? Xiaobian takes you close to petroleum coke products and gain an in-depth understanding of the petroleum coke industry chain. "check the details.
SMM analysis: aluminum prices continue to hit a 13-year high under the stimulation of supply disturbances. But aluminum bar processing fees are difficult to pick up] high aluminum prices, the domestic aluminum bar market is still difficult to pick up, from the processing fee point of view, although aluminum bar processing fees turned to a rising trend last week, but the price is still low. As far as the South China market is concerned, last week, the processing fee for φ 90 specification aluminum bar in South China was between 160-230 yuan / ton last week, the low-end price center of gravity was flat, the high-end price center of gravity was 10 yuan / ton, the weekly average price rose 6 yuan / ton; φ 120 and φ 178 specification aluminum bar processing fee was 100-170 yuan / ton, the low-end price center of gravity was flat, the high-end price center of gravity moved down 10 yuan / ton, and the weekly average price fell 2 yuan / ton. At present, the feedback of downstream aluminum profile enterprises. "View details
[SMM survey: recycled aluminum prices hit a new high and the degree of loss of die-casting enterprises is further deepened] at present, the pressure on the cost of raw materials in die-casting enterprises has increased greatly, the price downward transmission is difficult and the process is slow, and many small and medium-sized die-casting plants have chosen to reduce or stop production because of losses. With the increase in raw material prices, the scope of production reduction enterprises is also expanding, superimposed with the continuous impact of automobile "lack of core". Some enterprises said that the production reduction in August and September was up to 30%. The production of large factories is relatively stable, but they are also facing short-term losses. September and October are the traditional peak season for die casting downstream, but this year it seems that the peak season is not buoyant, the order increment is not as good as the same period last year, and the overall demand is not as expected. "check the details.
[scrap aluminum and recycled aluminum weekly review: poor consumption of high aluminum, shortage of raw aluminum and continuation of surplus of cooked aluminum] Last week, aluminum prices rose again, the price of waste aluminum rose relatively slowly, and the difference between raw and cooked aluminum is even greater. Raw aluminum is subject to the impact of rising silicon prices. The relatively tight supply of raw aluminum, which is already affected by reduced imports, has risen relatively fast, rising by about 500 yuan per ton in the week, and high-silicon waste aluminum, such as waste wheels, is relatively popular. "check the details.
[SMM caustic soda weekly review: oxygen caustic soda price hit a record high] the alumina market rose well during the week, and there is still support for caustic soda prices, but the General Office of Industry and Information Technology of Guangxi Zhuang Autonomous region held a working meeting on strengthening double control of energy consumption, and the market's concern about alumina production restrictions is highlighted, and alumina demand may decline in the future. "check the details.
[SMM Aluminum Accessories Weekly Review: aluminum Accessories: multiple positive support for Aluminum fluoride Trading Center up] Sept. 3: during the week, the aluminum fluoride market is strong, the industry is running on the profit-loss line for a long time, the spot is tight and the superimposed cost is supported, and the price center of gravity of the new round of transactions has moved upwards. So far, the average price of SMM anhydrous aluminum fluoride has recorded 8100 yuan / ton. "check the details.
[SMM Bauxite spot Weekly Review: the tight mining in the north continues the gradual rise in mineral prices in the southwest] SMM, as of last Friday, the overall supply of domestic bauxite is still tight, and the operation of high prices is normalized. at present, the price of imported bauxite is rising, which has insufficient advantages compared with domestic mines, and has failed to weaken the demand for domestic mines. It is expected that domestic ore prices will continue to rise steadily in the short term. Alumina prices surged last week, boosting manufacturers' confidence in production. If alumina prices rise steadily and open up profit margins, alumina plants will relatively easily accept the current situation of high domestic mineral prices. "check the details.
[SMM analysis: shortage of domestic bauxite in Shanxi and Henan, narrowing price gap between Guizhou and Guangxi] Bauxite mines in the northern region have been repeatedly restricted since June. Production has been suspended in many mines due to environmental protection inspectors, safety rectification, and other reasons. At present, the resumption of mining in the suspended mines is not smooth. At present, only one mine in Shanxi has resumed production, and there is no other news of resumption of production for the time being. It is difficult for the supply of ore in the northern region to resume, and the ore price continues to rise. Alumina plants are forced to buy ore at high prices or adjust ore to other places to ensure production. The demand for bauxite in southwest China is stable, and the mines in Zunyi area of Guizhou can be exploited normally at present, but the ore supply in Qingzhen area is still limited by environmental protection, safety and other policies. The monthly rainy season in Guangxi has affected the mining of local open-pit mines, and the ore supply has been reduced. "View details
[SMM Research: lead prices fall to hit Refinery delivery sentiment] SMM Sept. 3: as of Sept. 3, inventories of major delivery brands of primary lead reached 11700 tons, up 1500 tons from last Friday, according to SMM research. "check the details.
[SMM research: lead battery terminal consumption warming up limited storage enterprise production to maintain stability] SMM, according to SMM research, last week (August 30-September 3) SMM five provinces lead battery enterprises weekly comprehensive operating rate of 69.72%, basically the same as last week (August 27). "check the details.
[SMM survey: electrolytic lead smelter production basically stable operating rate dropped slightly last week] according to SMM (SMM) survey, last week (August 28th to September 3rd) SMM primary lead smelter weekly operating rate of 61.55%, last week primary lead smelter operating rate dropped 0.08% month-on-month. "View details
[SMM investigation: the cost of recycled lead has been broken and the operating rate of the four places continues to decline] Last week, the operating rate of recycled lead refineries continued the downward trend last week, mainly due to the expansion of losses in recycled lead refineries, some refineries lost around 300-500 yuan per ton, individual refineries in Anhui continued their losses due to superimposed losses on environmental control, production declined sharply, and large factories in Jiangsu also dropped slightly due to fluctuations in production due to market factors. Although Anhui Xinda overhauled and restored and Guizhou Cenxiang increased production according to the original plan, the overall contribution increment is not much, and the overall operating rate of the four places is still weak. "check the details.
[SMM monthly topic: supply increase is expected to remain in September lead prices are still under pressure to pay attention to the National Day Reserve situation] in September, according to the traditional practice, downstream enterprises will have the usual action of stocking up before the National Day, and consumers will pay attention to whether the expected fulfillment of the National Day reserve and the prevention and control of the epidemic in Jiangsu will reduce the impact on enterprises. In addition, although the cost of recycled lead still has some support for the price of lead, the new increase of recycled lead is expected to remain, and the increasing trend of supply is expected to continue, putting greater pressure on the rebound of lead prices. "check the details.
[SMM research: lead market supply and demand two light lead ingots social inventory growth slows] it is understood that lead prices fell one after another last week and lost the Wanwu mark. Recycled lead not only broke the cost line, but also further expanded refinery losses. Primary lead and recycled lead smelters generally turned to a wait-and-see state of sparing sales. During this period, only traders shipped basically as usual, while recycled lead smelters reduced production in the second half of the week, resulting in a relative reduction in supply. Therefore, the social inventory of lead ingots has increased significantly compared with last week, but it has obviously slowed down since the beginning of the week. "check the details.
[SMM analysis: a brief comment on the export market of split lead ingots with strong external and internal inventory] there is no doubt that in the current price decline, lead imports have lost a lot of money, so what are the lead export conditions? The theoretical export window of lead ingots opens, but what is the actual export plan of the trade market? What is the export destination and export cost? What are the factors that interfere with the export? Will the reversal of internal and external low price be triggered in the short term? SMM brings you a brief comment. "View details
[SMM analysis: zinc alloy plant starts slightly more overall demand increment is limited] SMM Sept. 3: last week, the operating rate of die-casting zinc alloy enterprises was slightly repaired, and individual plants were still in a state of maintenance. Enterprises reported that terminal inquiry procurement improved when prices fell, but the overall increment was limited. "check the details.
[SMM research: last week, galvanizing enterprises started slightly weaker enterprises to consume finished products] according to SMM research: last week, galvanizing enterprises started to weaken slightly, zinc prices rebounded during the week, and downstream enterprises increased replenishment at every bargain, but the enterprises did not store too much raw materials under the third batch of goods, and with the consumption of the second batch of zinc ingots, raw material inventory decreased. In terms of galvanized pipes, steel prices remain volatile in the overall sales of enterprises, but steel prices rose sharply over the weekend and enterprise orders increased; but. "check the details.
[SMM monthly Outlook: the situation of the third batch of zinc ingots dumping and landing remains unchanged in September] Last week, the auction ended, and the bidding enterprises increased again compared with the second time. Similarly, the highest transaction price also rose to about 21800 yuan / ton, but there is still a price difference of 600,900 yuan / ton compared with the spot price in the market, which is still within the acceptance range of downstream enterprises. After the auction, the earliest companies are expected to receive the goods after next Friday, according to documents from the State Reserve Bureau, which means that as time approaches, the pressure on the spot market will increase, so SMM expects zinc ingots to continue to accumulate in September. "check the details.
[SMM data: SMM Seven Zinc Ingot Social inventory dropped 2600 tons compared with last Friday] SMM Sept. 3: according to SMM, as of last Friday, SMM Seven Zinc Ingot stocks totaled 123600 tons, down 2400 tons from last Monday and 2600 tons from last Friday. "check the details.
Last Friday, the average price of SMM8-12% high nickel pig iron was 1417.5 yuan / nickel point (including factory tax), up 12.5 yuan / nickel point compared with the average price last Friday; the average price of nickel pig iron in Indonesia was 1407.5 yuan / nickel point (including arrival tax), up 7.50 yuan / nickel point compared with last Friday. During the week, stainless steel prices continued to decline, during which Aoyama and Delong announced guidance prices for October futures, which were lower than the prices announced last time. "View details
[laterite Nickel Weekly Review: grade decline, supply shortage Nickel prices continue to rise] SMM September 3: last Friday, the average 1.5%CIF price of nickel ore was $90.50 / wet ton, up $1.50 / wet ton from the average price last Friday. Nickel ore supply gap still exists, ironworks demand is strong, ore prices are easy to rise and difficult to fall, ironworks rigid demand for stock, accept high-priced nickel ore. At present, there are traders offering US $93 / wet ton (to the southern port) in 1.5%CIF, and the ironworks are still waiting to see. "View details
[bonded area Pure Nickel inventory: the expansion of Nickel Import profits stimulates the Rapid transfer of Pure Nickel to China] SMM September 3: according to SMM research, last Friday (September 3) last week, driven by domestic spot shortage, the Shanghai-Lun ratio continued to be revised up. While the import window opened, higher import profits stimulated traders to speed up the delivery of nickel plates from the bonded area, so last week pure nickel stocks in the bonded area fell by more than 1400 tons month-on-month. Recently, the overseas nickel structure has shifted from C to B structure. recently, the price of nickel board bill of lading in the market has continued to rise, with a maximum transaction of US $350 / ton, and the supply of bill of lading is tight. "check the details.
[enforcement of power restrictions in many areas to strengthen production restrictions of stainless steel plants] according to SMM research, recently, the news of production restrictions in stainless steel plants has been fermented again. As early as in early July, the notice on the iron and steel industry that "the output in 2021 will not exceed the output in 2020" has been announced. Some enterprises have strictly implemented the normal production limit and reduced the operating rate to about 70%. Other stainless steel plants began to reduce production in early September. Among them: South China: due to power constraints in Guangxi, there has been a reduction in August, and production scheduling in September is less than the month-on-month decline in August.
[SMM analysis: stainless steel production limit news starts again and the output is gradually falling] recently, the steel mill production limit news has been fermented again. As early as in early July, the notice on the iron and steel industry that "the output in 2021 will not exceed the output in 2020" has been announced, but recently Jiangsu, Guangdong, Fujian and other regions have received the notice of production restriction again, and the enforcement has been strengthened. According to SMM research, after the production limit notice was issued in July, some enterprises have strictly implemented the normal production limit, reducing the operating rate to about 70%. "check the details.
[chromite Weekly Review: it is difficult for Chrome prices to continue to rise steadily] SMM Sept. 3: last week, compared with last week, the output of Tianjin Port Chromium Mine decreased compared with last week, and there was a big drop in storage volume. There was no bulk ship entering the warehouse last week, and the overall inventory decreased. The output of ferrochromium remains low due to power cuts, the consumption rate of chromium ore is slow, the raw material inventory of the iron mill is still sufficient, although the port inventory has declined, but the supply is still sufficient, and it is difficult for mineral prices to rise. "check the details.
[SMM Hot Rolling Weekly combing: the National standing Committee adds another 300 billion yuan of small re-loan line manufacturing demand slowly recovers] SMM Sept. 3: last week, the volume price trend was too volatile, and a number of production restriction news boosted the market; Guangxi issued a double-control document on energy consumption; Jiangxi issued a double-control opinion on energy consumption. "check the details.
[SMM thread weekly carding: speculative demand releases terminal demand slow recovery] SMM Sept. 3: thread prices fluctuated widely last week. On Monday, Guangxi issued a document on double control of energy consumption, followed by Jiangxi released a draft of opinion on dual control of energy consumption. At the same time, some large steel mills in Northeast China are under increasing pressure to limit production and add a large number of maintenance plans. Affected by this, the market confidence was greatly boosted on Monday. "check the details.
[SMM steel terminal demand report: epidemic situation, weather improvement terminal plans to speed up construction progress in September] according to the survey, in August, among the sample enterprises, raw material procurement decreased by 36.7%, of which infrastructure enterprises accounted for 27%, and real estate enterprises accounted for 37%. According to a manager of China Railway 17th Bureau Group No. 2 Engineering Co., Ltd., "We are the procurement department, most of which are purchased by the engineering department itself. the amount of steel used in August is less than that in July." check the details.
[SMM statistics: total domestic electrolytic manganese production increased by 12.2% month-on-month in August 2021 compared with the same period last year and decreased by 15.5%.] according to SMM statistics, the total domestic electrolytic manganese production increased by 12.2% month-on-month in August 2021 compared with the same period last year. In addition, the average monthly price of electrolytic manganese was 28173 yuan / ton in August, up 45.6% from the previous month. In August, the average monthly price of electrolytic manganese FOB in China ports was 4411 US dollars / ton, up 45.1% from the previous month. "check the details.
[scrap aluminum and recycled aluminum weekly review: poor consumption of high aluminum, shortage of raw aluminum and continuation of surplus of cooked aluminum] Last week, aluminum prices rose again, the price of waste aluminum rose relatively slowly, and the difference between raw and cooked aluminum is even greater. Raw aluminum. "View details
[SMM data: shutdown capacity recovered less than expected industrial silicon production slightly increased month-on-month in August] SMM survey 8 China's industrial silicon production was 277000 tons, an increase of 38.1% over the same period last year, and an increase of 2.0% month-on-month. "check the details.
[SMM Silicon inventory: metal Silicon Social inventory shows Regional differentiation] SMM September 3: SMM statistics metal silicon social inventory totaled 50000 tons, an increase of 2000 tons over last week. Tianjin Port received less goods last week, and the inventory was constantly digested. The southern region continued to show accumulation in the flood season, and the extent of accumulation in Kunming increased compared with the previous period. A factory in the north is gradually resuming shipments, and it is expected that metal silicon social inventory will be maintained next week. "View details
[SMM analysis: cobalt sulfate inventory increases under the cobalt reduction trend Q4 price is expected to decline] SMM September 3: last week, the price of cobalt sulfate fell slightly, the prices of mainstream cobalt salt enterprises were strong, and the market price of cobalt sulfate was upside down from that of raw cobalt intermediates, and the willingness of enterprises to purchase cobalt sulfate from downstream ternary precursors and cathode materials increased compared with the previous period. "check the details.
[SMM Cobalt Lithium spot Weekly report: mainstream cobalt salt companies quote firm lithium carbonate prices] Cobalt, cobalt intermediate raw materials inventory was tight in the third quarter; many companies dismantled and recycled new waste batteries and increased demand for black powder; domestic prices were lower than overseas discounts, cobalt bean imports decreased, market worries about cobalt raw materials inventory increased in September, and prices of electrolytic cobalt, cobalt sulfate and cobalt chloride stabilized. "check the details.
[SMM Antimony spot Weekly Review: antimony prices are brewing higher] the market price of antimony strengthened last week and began to brew a rising trend. At present, it is still due to the tension of raw materials. On the one hand, overseas imports of raw materials are basically stagnant, while domestic raw materials are sold sparingly or at high prices. As a result, antimony ingot suppliers have to support the shipping prices strongly because of the follow-up raw material problems. "check the details of the recent trading of antimony ingots.
[SMM molybdenum spot KuaiBao | there is a "cooling" in the domestic molybdenum market demand] SMM believes that the price drop is a normal adjustment, and steel mills are still in demand. At the same time, international molybdenum prices and domestic molybdenum concentrate prices form a strong support for ferromolybdenum prices. The molybdenum market is expected to pick up in the short term with the arrival of the peak season of the industry in September. "check the details.
[SMM indium spot weekly review: indium price rises rapidly] the indium market price rose rapidly last week. At present, there is still no obvious trend change in the supply and demand fundamentals of the indium ingot market, but the tension of crude indium raw materials still exists. The main reason for the price rise is due to the unusually strong bullish sentiment in the market and the influx of speculative funds into the market to buy goods, resulting in a rise in spot shipping prices, so market trading was also very active last week. But the supplier of refined indium is still reluctant to sell and cautious. "check the details.
[SMM selenium Weekly Review: selenium market quotation is strong waiting for willow dark flowers] Last week, the selenium market as a whole remained stable, merchant quotations remained strong, and actual transactions rebounded slightly. It is reported that there may be domestic mainstream copper factories selling crude selenium next week. If there is really crude selenium bidding in the market, this will undoubtedly best reflect the current market situation and merchants' mentality, and the trend in the later period will be clearer. "check the details.
[SMM Bismuth spot Weekly Review: bismuth price fell slightly] Last week, bismuth ingot prices continued to show a downward trend, the fundamentals of market supply and demand did not change much, the inventory resources of most manufacturers were still not high, some manufacturers' shipments were still active, and quotations were also lowered, and market speculative forces also had a small number of shipments. But the terminal demand still has not changed greatly, the speculative mood is deserted. "check the details.
[SMM research: magnesium prices continue to soar downstream enterprises are difficult to pick up] on August 16, the Fugu County government issued the "Fugu County third quarter energy consumption materials early warning and control plan". In terms of metal magnesium, the total energy consumption in 2020 is 1.06 million tons of standard coal, 540000 tons in the first half of 2020, 530000 tons in the first half of 2021, and the total energy consumption control target for the third quarter is 160000 tons. The total energy consumption control target for the third quarter is 50,000 tons from August to September. "View details
[SMM magnesium spot Weekly Review: breaking through the 30,000 magnesium price is unstoppable] affected by the continuing shortage of spot supply in the factory, driven by some overseas orders and domestic downstream rigid demand, magnesium prices rose rapidly last week, and market prices set a new record again, successfully breaking the 30000 yuan / ton mark. "check the details.
[SMM Titanium spot Weekly Review] it is understood from the factory that environmental protection is still the main factor hindering medium ore production, while some concentrate production enterprises are also affected, the start-up is low, the concentrate supply is tight, the overall market quotation is strong, and the factory price sentiment is strong. Considering that titanium dioxide has entered the traditional peak season, downstream demand is expected to improve, combined with the impact of tight supply of titanium ore, the market price of titanium ore is expected to maintain a strong operation in the near future. "check the details.
Important news of metals and industry
[Ministry of Commerce: relevant exchanges are promoting the listing of new products of shipping futures as soon as possible] Tang Wenhong, director of the Hong Kong Department of the Free Trade Zone of the Ministry of Commerce, said at a news conference held by the State New Office today that "some measures to promote the reform and innovation of trade and investment facilitation in the free trade pilot zone" proposed to start with commodities with strong domestic market demand, high external dependence, and relatively mature international market development. Listed shipping futures and other trading new varieties. At present, in order to implement the arrangements of the CPC Central Committee and the State Council, the relevant exchanges are vigorously promoting the listing of new products of shipping futures, and the business and technical preparations are basically ready to launch as soon as possible.
Recently, an aluminum bar factory in Shandong issued a price adjustment notice, the details are as follows: at present, silicon, magnesium and other alloy materials have increased by more than 10,000 yuan, natural gas has increased by 50% compared with the same period last year, and the sharp rise in raw and auxiliary materials has led to a substantial increase in our production costs. Due to the cost pressure, after careful consideration, we have decided to make the following adjustments to the processing fees on the basis of the original price from now on: 6063 yuan / ton, 6061 yuan / ton, 6082 yuan / ton, so the price adjustment is based on the rise of raw and auxiliary materials. I hope customers can understand and support it.
Luo Tiejun, vice president of the China Iron and Steel Association: the relevant departments are studying to support the improvement of the guarantee capacity of domestic iron ore resources. Luo Tiejun, vice president of the China Iron and Steel Association, said that recently, the relevant departments are studying to support the improvement of the guarantee capacity of domestic iron ore resources. The Iron and Steel Association will cooperate closely to do this work well. It is hoped that the vast number of iron ore enterprises will make joint efforts to increase domestic iron concentrate output by more than 100 million tons during the 14th five-year Plan period.
[Yan'an Bikang new energy and new materials two major product lines are full production and sales products are in short supply] recently, Yan'an Bikang accepted a number of institutional research, in which the company revealed that affected by market demand, the company's two major production lines of new energy and new materials are in the stage of full production and full sales, and the products are in short supply. It is reported that the current Yan'an Bikang lithium hexafluorophosphate production capacity of 6400 tons / year, the scale of production capacity in the forefront of the industry. "check the details
[Huayou Cobalt Industry: the wet project of Huayue laterite nickel mine with an annual output of 60,000 tons of nickel in the company's Indonesian region is steadily advancing] on September 3, Huayou Cobalt said on the investor interactive platform that the wet project of the company's Huayue laterite nickel mine with an annual production capacity of 60,000 tons of nickel in Indonesia has been steadily progressed. at present, the installation of core equipment has been completed, and the installation of steel structure, non-standard equipment, anticorrosive lining, piping and electrical equipment has been carried out in an all-round way. The production preparation work such as organizational structure, institutional norms and personnel training is carried out in an orderly manner, and the feeding conditions are expected to be available by the end of the year.
[Ministry of Industry and Information Technology Xin Guobin: coordinating a series of policies and measures to speed up the development of new energy vehicles to further improve the lithium, cobalt and nickel guarantee system] on September 4, at the opening meeting of the 17th China Automobile Industry Development (Teda) International Forum, Xin Guobin, Vice Minister of Industry and Information Technology, said that this year is the opening year of the 14th five-year Plan, and it is of great significance to do a good job in the follow-up development of the automobile industry. We will give full play to the ministerial joint meeting system, coordinate a series of policies and measures to speed up the development of new energy vehicles, and maintain a continuous, stable and effective convergence of relevant supporting policies. We will further improve the guarantee system for lithium, cobalt and nickel. We will study and improve the safety technical standards of new energy vehicles, promote enterprises to improve the safety operation monitoring system, and strengthen product consistency inspection. Organize enterprises to carry out self-inspection of automobile data security, network security, software upgrade and so on. We will strengthen the filing management of software upgrades and study the access standards of intelligent network couplings.
According to SMM's understanding, Guangxi issued a notice on strengthening the energy-saving dispatch of high-energy-consuming industries. Last week, three metal silicon furnaces in Guangxi stopped production, totaling 4, and the time of resumption of production is unknown. Only 5 industrial silicon furnaces are in normal production in Guangxi province.
Special report: the achievements of metal enterprises in the first half of 2021 are good news one after another!
Enterprises in the cobalt and lithium industry chain have reported good news in the first half of 2021!
Iron and steel industry chain enterprises have reported good news in the first half of 2021!
Terminal information
[Ministry of Industry and Information Technology Xin Guobin: will go deep into the new energy vehicle industry development plan to launch a pilot project of comprehensive electrification in the public domain] at the 17th China Automobile Industry Development (Teda) International Forum, Vice Minister of Industry and Information Technology Xin Guobin said that the national carbon neutralization target puts forward new requirements for the development of the automobile industry, and will organize industry organizations to compile and issue a technology roadmap for the low-carbon development of the automobile industry. Xin Guobin said that the Ministry of Industry and Information Technology will go deep into the development planning of the new energy vehicle industry: first, to coordinate a series of policies and measures to speed up the development of new energy vehicles to further improve the lithium-cobalt-nickel security system; and second, based on the development trend of electrification, networking and intelligence. Synchronize will promote the improvement of infrastructure, data platforms, standards and regulations, and jointly promote the development of tram intelligence, smart roads, communication networks and cloud control technology. We will launch a pilot project to fully electrify public domain vehicles in cities, and organize industry organizations to compile and issue a technical roadmap for the low-carbon development of the automobile industry.
[China Automobile Association: sales estimate of the automobile industry in August completed 1.711 million vehicles down 21.8% compared with the same period last year] according to the ten-day report of key enterprises counted by the China Association of Automobile Manufacturers, in August 2021, the sales volume of the automobile industry is expected to complete 1.711 million vehicles, down 8.2% from the previous month and 21.8% from the same period last year. According to the broad categories, passenger vehicle sales are down 17.5% from the same period last year, and commercial vehicle sales are down 43.8% from the same period last year. From January to August of 2021, the cumulative sales of the automobile industry are estimated to be 16.467 million vehicles, an increase of 13.1% over the same period last year.
[building the country's first fourth-generation semiconductor production line Shanxi antimonide semiconductor project has entered the trial operation stage] the antimonide semiconductor project introduced by Jincheng Optical, Mechanical and Electrical Industry Research Institute has now entered the trial operation stage. it is expected that the production capacity of 10,000 chips will be reached next year, and it will become the first production line of the fourth generation semiconductors in the country.
[Daimler expects chip shortages to affect Mercedes-Benz sales in the third quarter] German carmaker Daimler said on Sept. 2 that it expects sales of its Mercedes-Benz brand to fall sharply in the third quarter due to a global shortage of semiconductors. Previously, a number of car companies, including GM and Mahindra, have cut their production and sales forecasts because of chip shortages.
According to a report by the Associated Press on September 2, the global shortage of computer chips continues to increase, forcing some US car companies to close their factories temporarily. General Motors announced on Sept. 2 that it would suspend production at eight North American assembly plants in the next two weeks.
[LG Energy change: layout Lithium Iron Phosphate Battery seeks Chinese partner to set up Raw material Company] according to South Korean media THE ELEC, LG Energy began developing lithium iron phosphate battery technology at Daejeon Laboratory in South Korea at the end of last year, and is expected to build a pilot line next year at the earliest. The battery is a soft bag battery, which is different from the prismatic and cylindrical batteries produced by Chinese enterprises. LG Chemistry will also be involved in LG Energy's lithium iron phosphate battery business. South Korean media predict that LG Chemical may set up a joint venture with its Chinese partner to supply LG Energy with the raw materials needed to produce lithium iron phosphate batteries.
[TSMC chip contract prices rose by 20% but only 3% for Apple] according to news from Taiwan's IC design chip manufacturers, TSMC has informed customers of the price increase, which is different from the previous rumors that the price increase began in 2022. TSMC's latest notice is that the price increase will take effect immediately, even if it is already in the order system. The price increase is comprehensive, with mature and advanced processes rising by 10-20%, with advanced processes of 7nm and below rising by 10-15%, and mature processes by 20%. However, different customers are treated differently, and according to the latest news, Apple is the least affected by the price increase-TSMC's increase of only 3% is far lower than that of other manufacturers.
[GM announces suspension of production at most North American plants from next week] on September 3, local time, GM announced that it would suspend operations at most North American plants from next Monday because of a global chip shortage. Further adjustments will be made according to the progress of the supply chain. GM said that with the exception of the capacity of the Arlington assembly plant in Texas (which produces the high-margin full-size SUV), the Flint assembly plant (heavy trucks), Bowling Green (the Corvette sports car) and some of the Lansing assembly plants (such as Chevrolet Comero), the rest of North America will stop production on Monday.
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