"the annual meeting of the SMM metal industry in 2021 is officially launched | under the dual-carbon goal, the interpretation of metal fundamentals and price research policies in 2022 is a brainstorming attack!
Minutes of SMM morning meeting
SMM Copper Morning meeting minutes: fundamentals, recent copper inventories at home and abroad are showing a downward trend. Data released by the General Administration of Customs yesterday showed that China's imports of unwrought copper and copper materials ended five consecutive declines in September, and demand performance improved, forming a certain support for copper prices. It is expected to be today.
"Copper rose sharply during the intraday diving period of the dollar index, following the trading situation in the spot market today [minutes of SMM Copper Morning meeting]
"Click to view the price of SMM copper products.
Summary of SMM Aluminium Morning meeting: in October, the supply side of domestic electrolytic aluminum production capacity may continue to decline, Qinghai, Ningxia and other provinces have the risk of production reduction, while there is almost no possibility of new or resumption of production within the month. The situation of power cuts at the demand end suppresses the peak season of traditional consumption. The start-up rate of aluminum processing enterprises has declined month-on-month in September, and the start-up expectation in October is not optimistic. Aluminum prices are expected to fluctuate at a high level under the weak supply and demand pattern.
"the US CPI has reached the highest level in 13 years. The bulls left the market overnight and Shanghai Aluminum fell slightly [minutes of SMM Aluminium Morning meeting].
"Click to view the price of SMM aluminum products
Minutes of SMM lead Morning meeting: overnight, the US CPI rose more than expected in September, and the weaker US dollar also supported LME non-ferrous metals. Overnight lun lead ushered in a make-up rise, during the day to pay attention to whether Lunlun lead continued the late pullback trend downward test, pay attention to the support of the 5-day moving average below. Overnight, Shanghai lead fluctuated strongly in the upward atmosphere of Lun lead, the center of gravity moved up slightly, and finally stood on the Wan51 line. It is expected to be today.
"overnight lead rebounded and some delivery brands are about to be overhauled [minutes of SMM lead Morning meeting]
"Click to view the price of SMM lead products
Summary of SMM Zinc Morning meeting: due to rising power costs, overseas Nyrstar announced that it would cut zinc production by 50% at its three European smelters, which is expected to affect about 70, 000 tons of output in the fourth quarter. Overnight LME inventory fell 425 tons to 191075 tons, or 0.22% decline in LME zinc inventory slowed. Shanghai Zinc Festival after five Lianyang, but the trend is inferior to the outer disk. The impact of the energy crisis continues, with overseas Nyrstar announcing it will cut zinc production by 50 per cent at its three European smelters because of rising electricity costs, which is expected to affect about 70, 000 tonnes of output in the fourth quarter. Domestically.
"Energy crisis continues to ferment Nyrstar Announces production reduction to boost Zinc Price [minutes of SMM Zinc Morning meeting]
"Click to view the price of SMM zinc products
SMM Tin Morning News: fundamentals, as smelters gradually get rid of the trouble of production restrictions caused by various factors, foreign products also have a trend to gradually enter the country, and the supply is expected to be loose. On the market trend, after opening high last night, the bulls took the initiative to drive prices down to the lower edge of the concussion range. In this position, a small amount of short funds entered the market and then left again, and the price rebounded out of the support position on the lower edge. To sum up, in the short term.
"the direction of the high temperature shock at the exit of the rebounding funds along the lower edge is unknown [SMM Tin Morning News]
"Click to view the price of SMM tin products
Minutes of the SMM Nickel Morning meeting: nickel fell for three consecutive days, showing a weak shock trend as a whole. Fundamentals, there is no clear bullish news about nickel in the current period, and nickel continues to fall or adjust for recovery.
"Nickel continuous center of gravity moves downwards, spot water rises and falls back to light trading [minutes of SMM Nickel Morning meeting]
"Click to view the price of SMM nickel products
Summary of SMM Steel Morning meeting: the domestic coke market was stable and weak yesterday. Some blocked roads in Shanxi have been restored, coke shipping is gradually normal, coke inventory is declining, but some coke enterprises because of priority thermal coal shipments, coke transport is slightly difficult, inventory increases. Recently, the environmental protection inspection team has been stationed in Luliang area to supervise and inspect energy consumption and capacity compliance, which has not had a significant impact on the production of coke enterprises.
"production restrictions may be relaxed and steel prices will fall sharply [minutes of SMM Steel Morning meeting]
"Click to view the price of SMM steel products
Summary of SMM Cobalt Lithium Morning meeting: in September 2021, the load of power batteries in China reached 15.7 GWH, an increase of 138.6% over the same period last year and 25.0% from the previous month, achieving positive growth for five consecutive months; in terms of cobalt electrolysis, overseas terminal enterprises consulted more cobalt beans, leading to higher quotations. The price discount of electrolytic cobalt is deeper than that of cobalt salt metal, and the demand for dissolution of cobalt beans by new energy enterprises will increase; in terms of lithium carbonate, workers and electric carbon in Qinghai and traders gradually increase the export volume, and the quotation goes up to about 190000 yuan / ton, and some of the transaction prices are in the range of 18.5-188000 yuan / ton. The price of electric carbon in Sichuan and Jiangxi is between 19 and 200000 yuan per ton. at present, the acceptance of high-priced electric carbon in the lower reaches is relatively low. In terms of ternary materials and iron lithium, the prices of lithium and precursors have risen recently, superimposed power limitation.
The installed capacity of iron-lithium battery exceeds that of ternary battery in September, the cost pressure of downstream materials for lithium battery increases [minutes of SMM Cobalt-Lithium Morning meeting]
"Click to view the price of SMM cobalt lithium products
Review of overnight market
At the macro level, central bankers and finance ministers who advise the (IMF) of the International Monetary Fund have urged strong global cooperation to accelerate vaccine supply and narrow differences in the pace of economic recovery across regions, as expected risks tend to be downside.
The dollar fell slightly in volatile trading on Thursday after recovering most of its early losses as investors bet that the Federal Reserve would begin to scale back its asset purchases next month and turn its attention to raising interest rates.
The metal market rose generally, and zinc prices continued to rise under the influence of Nyrstar production cuts. Shanghai zinc rose 2.93%. On the outer disk, Lun zinc trend was stronger, up 4.07%, hitting a 14-year high in intraday trading. The London Metal Exchange metals index (LMEX), a key measure of six basic industrial metals, rose more than 2 per cent on Thursday to an all-time high of 4623, up 35 per cent year-to-date.
Copper prices also showed a strong trend yesterday, with Lun copper up 3.64% and Shanghai copper up 2.6%, mainly due to the continuous demolitions of copper and the low absolute level of global copper inventories, supporting prices.
[overnight market] the dollar fell slightly, the metal Pu Sheng Lun zinc probe 14-year high
U. S. stocks closed higher on Thursday, with the Dow up 530 points. Bank of America (45.07, 1.93, 4.47%) and Wells Fargo (45.31,-0.74,-1.61%) reported better-than-expected results. Initial claims for unemployment benefits in the United States last week fell to their lowest level since the outbreak. The producer price index for September showed that inflationary pressures in the United States continued to rise. The Dow rose 534.75 points, or 1.56%, to 34912.56; the Nasdaq rose 251.79 points, or 1.73%, to 14823.43; and the S & P 500 rose 74.46 points, or 1.71%, to 4438.26.
In terms of crude oil, US crude oil futures rose on Thursday and reached their highest closing price since October 2014. In view of the massive shift to crude oil from power plants facing energy shortages, the (IEA) of the International Energy Agency has sharply raised its forecast for global crude oil demand this year and next. Saudi Arabia, the largest oil producer, ignored calls for more supplies from the Organization of Petroleum Exporting countries ((OPEC)) and OPEC, an oil-producing ally, and the (IEA) of the International Energy Agency said soaring natural gas prices could increase demand for oil from power plants. The market has largely shrugged off the unexpectedly large increase in US crude oil inventories.
In precious metals, COMEX gold futures closed slightly higher on Thursday, rising for a third day in a row, briefly rising above $1800 a troy ounce as falling yields on the dollar and Treasuries prompted investors to turn to gold to hedge against inflation.
On the macro level, today we focus on the monthly rate of retail sales in the United States in September and the consumer confidence index of the University of Michigan in October, the quarterly adjusted trade account in the euro area in August, and the monthly rate of import price index in the United States in September.
"[macro outlook] focus on the monthly rate of retail sales in the United States in September and the consumer confidence index of the University of Michigan in October.
LME inventory
Today's focus
General trend of Zinc Price under double Control of Power limitation and Energy consumption Development and Application Prospect of Zinc Chloride Industry [text Live broadcast of the 9th Green Zinc Salt and Zinc oxide Industry Summit Forum in 2021]
[important data SMM China Metal production data release in September 2021] SMM China's monthly basic metal production data is scheduled to be released around the 8th of each month, aiming at starting from the essence, excavating the real fundamental situation, opening up the illusion of the capital market for people in the industry chain and investors, and more clearly grasping the future trend of the non-ferrous market. "View details
[SMM analysis: when can Guangdong copper inventory hit a new low?] different from previous years, as of October 13, Guangdong electrolytic copper inventory was 9391 tons, falling below the 10, 000-ton mark, setting a new low for the year. Why do inventories continue to decline instead of accumulating stocks this year? Click to see the specific reason. "View details
[SMM aluminum downstream weekly survey: power limitation of processing enterprises in some areas alleviates aluminum processing start-up] SMM, October 14, 2001: the operating rate of leading downstream processing enterprises this week increased by 3.4 percentage points to 64.2%. The main reason is that some downstream enterprises in Jiangsu, Zhejiang, Shanghai and Guangdong have eased their power and production restrictions after the festival. From the point of view of the industry, the start-up reply is mainly concentrated in the plate, strip and foil enterprises with relatively good orders, followed by some profile enterprises, other plates or power cuts, and the start of order problems is still not increasing compared with the pre-holiday period. "View details
[zinc oxide Forum | how to deal with the tax risks of commodity trading? Here's a strategy! At the ninth Green Zinc Salt and Zinc oxide Industry Summit Forum held by SMM in 2021, Liu Yun, former senior director of the Inspection Bureau of the Shanghai Taxation Bureau of the State Administration of Taxation, shared the tax risks and coping strategies of commodities on the spot, explaining the definition of commodities, trading characteristics, tax-related risks and how to deal with them. "View details
According to data from the General Administration of Customs, China imported 1.256 million tons of steel in September 2021, an increase of 193000 tons over the previous month, and a decrease of 56.4% over the previous month. China imported 10.716 million tons of steel from January to September, down 28.9% from the same period last year. In September 2021, China exported 4.92 million tons of steel, a decrease of 133000 tons from the previous month, an increase of 28.5 percent over the same period last year. From January to September, China exported a total of 53.024 million tons of steel, an increase of 31.3 percent over the same period last year. At present, the volume of China's steel exports has declined for three consecutive months, mainly due to four major aspects. "check the details
The second stage: in the first quarter of 2022, China's crude steel output may be reduced by 33.35 million tons compared with the same period last year, with an average daily reduction of about 371000 tons. According to the requirements of the document, "the second stage: from January 1, 2022 to March 15, 2022, with the goal of reducing the increased emissions of air pollutants in the heating season, in principle, the proportion of off-peak production of iron and steel enterprises in all relevant areas is not less than 30% of the crude steel output in the same period of the previous year." According to the data of the Bureau of Statistics, in the first quarter of 2020, the output of crude steel in China was 269.01 million tons, and the total output of crude steel in 26 cities was 111.18 million tons. With a decrease of 30% from the same period last year and unchanged in other regions, SMM expects that China's crude steel production in the first quarter of 2022 may decrease by 33.36 million tons compared with the same period last year, with an average daily reduction of about 371000 tons. "View details
[SMM analysis of stainless steel downstream processing power limit to open the spot market is not good] at present, in terms of stainless steel smelting production, the production of various steel mills has been gradually restored, and the restrictions in Jiangsu and Guangxi have been alleviated, but the production in Fujian and other areas is limited, so the overall output of stainless steel is still at a low level. The downstream processing stage of stainless steel is now gradually limited, the downstream cold rolling processing and product processing stage, since October, the influence of electricity has been limited, and the consumption of stainless steel has been limited; and at present, under the high price of stainless steel, the spot market transaction is not good, and the demand is weak. "View details
[hot-rolled inventory dropped sharply demand resilience] this week's total hot-rolled coil inventory of 3.581 million tons, compared with last week-172600 tons, month-on-month-4.6%, year-on-year-13.49%. This week, there has been a sharp decline in total hot rolling inventory, a marked decline in social treasury and factory warehouse, a certain relaxation of power cuts in South China, an improvement in terminal demand, and a certain replenishment demand after the festival, resulting in a sharp decline in inventory. "View details
[heating season policy landing iron ore market may still be difficult to see a substantial improvement] since late July, the overall iron ore concussion downward, the main iron ore contract once hit a low of 606, down more than 52% from the highest point of the year 1262.5, mainly due to crude steel production task, strict implementation led to weaker iron ore demand. Since late September, iron ore futures and spot prices have rebounded at a low level, contributing to this rebound. SMM believes that there are mainly the following points: "check the details."
[silver Forum | SMM Silver Industry Price system and the Future of Photovoltaic Industry chain pricing] 2021 China International Silver Industry chain Summit Forum and China Silver Market Application Seminar, Lu Jialong, senior vice president of Shanghai Nonferrous net, introduced the future of SMM silver industry price system and photovoltaic industry chain pricing. He said that at present, most of the domestic manufacturing industry is in a stage of transition from overheating to trough, in which profits have fallen sharply to the edge of profit and loss, supply exceeds demand, and enterprises are thinking about reducing transaction costs. "View details
[silver Forum | hedging Strategy: interest rate risk Prevention Gold / Silver ratio and Exchange rate impact on Silver Future] at the 2021 China International Silver Industry chain Summit Forum and China Silver Market Application Seminar, Guan Ping, vice president of brokerage headquarters and general manager of the Coordination Department of Guangzhou Futures Co., Ltd., shared the financial instruments hedging strategy of customers in the silver industry. He said that since 2021, the internal and external ratio of silver has fluctuated frequently near the export profit and loss window, and has been opened from time to time. The highest export profit is about 200 yuan / kg, and it is currently about-80 yuan / kg. "View details
[silver Forum | Precious metal prices cannot escape the downward trend in 2022? Analysis of the three major factors] at the 2021 China International Silver Industry chain Summit Forum and China Silver Market Application Symposium, Han Kui, general manager of Zhishui Investment and senior trader of precious metals, reviewed the gold and silver market in 2021 and looked forward to the future investment direction. He pointed out that the factors affecting precious metal prices in 2022 will revolve around the Fed's monetary policy, euro zone monetary policy and the epidemic. Combined with a combination of fundamentals and technical factors, 2022 is expected to be a volatile downward trend. "View details
[metal silicon does not have a sharp fall in the basic callback market need not panic] three working days before the National Day, metallurgical grade low-grade metal silicon opened the callback trend, and the callback momentum continued after the holiday was received. in particular, the lack of oxygen 55Si fell most obviously under pressure such as the reduction of aluminum alloy production in the lower reaches of the main shippers and other aspects of pressure. The increase of 55% silicon without oxygen in East China fell by 60% in just over a week in the past month. Under this influence, the metal silicon market is afraid of falling atmosphere. No oxygen 55 silicon turn down will really be the metal silicon market inflection point to the arrival of the weather vane? SMM point of view is that metal silicon does not have a sharp decline in the basis, the pullback market need not panic. "View details
[electrolytic manganese weekly review (10.11-10.15): monthly manganese price operation enhanced market wait-and-see steel move guidelines] in terms of the market, the overall manganese market has risen strongly this week, while individual terminals have limited orders from the main production areas of the manganese triangle, and the shortage state is obvious. most manganese factory directors are not willing to close orders, and there are not many supply and demand transactions in the spot week of 40,000 yuan / ton. "View details
Important news of metal industry
Hailiang shares: the net profit in the first three quarters is 870 million yuan to 980 million yuan, an increase of 60% to 80% over the same period last year. The company has vigorously implemented the intelligent manufacturing strategy, accelerated the comprehensive application of the new generation of low-carbon intelligent and efficient copper pipe production lines, continued to promote management optimization and cost reduction and efficiency work to a higher level, and further enhanced profitability and product sales. the leading position of the industry has been further consolidated.
Shunbo alloy issued a forecast that the net profit in the first three quarters was 220 million yuan to 230 million yuan, an increase of 97.41% 107.16% over the same period last year. The forecast said that the reasons for the performance changes are as follows: (1) during the reporting period, the company adhered to the sound business model of "fixed production by sales and fixed production by production", benefiting from the advantages of national multi-regional layout and industry application diversification. East China, Southwest China, South China and Central China sales have increased to varying degrees, leading to a significant increase in the company's overall sales; (2) the company continues to strengthen internal fine management and reasonably control production costs and various expenses; (3) the fund-raising project Hubei Shunbo production base's production capacity climbed rapidly in the first three quarters of 2021, and the scale effect highlights the enhancement of Hubei Shunbo's profitability.
[Gree Electric Appliances set up a new technology company in Maanshan with non-ferrous metal Calendering processing] according to App, Huaxin Gaodao (Maanshan) Technology Co., Ltd. was established on October 12, with a legal representative of Yuan Weigang and a registered capital of 30 million yuan. Its business scope includes non-ferrous metal Calendering processing, non-ferrous metal alloy sales, wire rope and its products manufacturing, etc. The equity penetration chart shows that the company is indirectly wholly owned by Zhuhai Gree Electric Appliance Co., Ltd.
[Tianshan Aluminum: net profit increased by 163.5% in the first three quarters, the average market price of aluminum ingots rose by about 35% compared with the same period last year) Tianshan Aluminum (002532) issued a performance forecast on the evening of October 14, and expected to return home net profit of 3.231 billion yuan in the first three quarters of 2021, an increase of 163.54% over the same period last year. In the first three quarters of 2021, the aluminum industry maintained a high demeanor, strong demand for aluminum ingots, continued tight supply, and affected by capacity ceilings and power cuts in some areas, aluminum prices continued to rise, with the average market price of aluminum ingots rising by about 35% from January to September compared with the same period last year.
[Tesla will purchase more than 42000 tons of nickel from Prony Resources after signing another large nickel contract] on Wednesday, local time, French New Caledonian mining company Prony Resources announced a multi-year nickel supply agreement with Tesla, which will purchase more than 42000 tons of nickel. Prony did not disclose the duration of the contract with Tesla.
Shanghai Futures Exchange has recently received relevant application materials submitted by Hongwang Holdings Group Co., Ltd., a registered stainless steel futures company, the Shanghai Futures Exchange has recently received relevant application materials from Hongwang Investment Group Co., Ltd. on approval to change its name to Hongwang Holdings Group Co., Ltd.
The World Iron and Steel Association predicts that global steel demand will grow by 4.5 per cent to 1.855 billion tonnes in 2021, compared with a previous forecast of 5.8 per cent.
[listed steel companies' profit growth slowed in the third quarter] industry insiders said that under the guidance of the goal of "ensuring a year-on-year decline in crude steel production in 2021", the national steel industry has reduced production since the third quarter. The measures of "double control of energy consumption" in various localities have become stricter, the limit of production in the iron and steel industry has increased, and the reduction in steel production has exceeded market expectations. Benefiting from factors such as high steel prices and falling raw material costs, steel production profits continue to rise, supporting the overall profitability of steel companies, but steel production and sales declined in the third quarter, slowing the profit growth rate of steel companies. Zhang Qiusheng, head of the share market department of Nanjing Iron and Steel Co., Ltd., said that steel prices are expected to continue to rise in the fourth quarter, and steel companies' profits will continue to expand.
[CISA: in the first ten days of October, the daily output of crude steel in steel enterprises increased by 5.9% over the previous month.] according to CISA data, in the first ten days of October, steel enterprises produced a total of 18.7316 million tons of crude steel, 16.7079 million tons of pig iron and 18.3011 million tons of steel. Of this total, the daily output of crude steel was 1.8732 million tons, up 5.9 percent from the previous month; the daily output of pig iron was 1.6708 million tons, down 0.62 percent from the previous month; and the daily output of steel was 1.8301 million tons, down 1.82 percent from the previous month.
[Baoxin Energy: the company organized and carried out thermal coal futures hedging business] Baoxin Energy said on the interactive platform that in order to effectively avoid market risks and offset the impact of thermal coal price fluctuations on the company's production and operation, the company organized to carry out thermal coal futures hedging business.
Vanadium and titanium of Panzhihua Iron and Steel Co., Ltd. issued a forecast that the net profit for the first three quarters was 760 million yuan to 810 million yuan, an increase of 300% to 326% over the same period last year. The forecast said that the reasons for the performance changes are as follows: (1) during the reporting period, the company made every effort to make a good connection between production and marketing, and the price and sales volume of vanadium and titanium products increased by a large margin compared with the same period last year; (2) during the reporting period, the overall operation of the company was good. Strictly implement measures to reduce costs and increase efficiency, tap internal potential and enhance profitability; (3) according to the review of the book value of the deferred income tax assets of the parent company on the balance sheet date by the financial department, it is expected that sufficient taxable income will not be obtained in the future period, and the deferred income tax assets shall be written down by about 120 million yuan by the end of this reporting period.
Macro focus
According to data released by the Bureau of Labor Statistics on Thursday, the US producer price index (PPI) rose 0.5 per cent month-on-month, 8.6 per cent year-on-year, below expectations of 8.7 per cent and still the highest level since November 2010. Among them, energy prices rose 2.8% month-on-month, and food prices rose 2.0% month-on-month. Core PPI, which excludes energy and food, rose 0.2 per cent from a month earlier, the smallest increase so far this year and 6.8 per cent higher than a year earlier.
[central Bank Governor Yi Gang: China's overall moderate and moderate inflation monetary policy will be flexible, accurate, reasonable and moderate] on October 13, 2021, Italy, chair of the Group of 20 (G20), hosted a meeting of G20 finance ministers and central bank governors in Washington, the United States. the meeting held that the global economy continued to recover, but the recovery momentum was clearly divided, and the downside risks related to the novel coronavirus epidemic were prominent. The parties reaffirmed that they would adopt all policy tools to deal with the impact of the epidemic and agreed to continue to support economic recovery and avoid premature withdrawal of supportive policy measures on the basis of maintaining financial stability, maintaining long-term fiscal sustainability and preventing spillover effects. Yi Gang, governor of the central bank, introduced China's recent economic and financial situation at the meeting, saying that China's inflation is generally moderate, and a prudent monetary policy will be flexible, accurate, reasonable and moderate to support high-quality economic development.
[statistics Bureau: industrial product price increases continued to expand in September] data from the National Bureau of Statistics show that industrial product price increases continued to expand in September due to factors such as rising prices of coal and some high energy-consuming industries. On a month-on-month basis, PPI rose 1.2%, an increase of 0.5% over the previous month. Of this total, the prices of the means of production rose 1.5 percent, or 0.6 percentage points, while the prices of the means of subsistence remained unchanged. Under the influence of strong demand and continued tight supply, the prices of the coal processing industry rose 18.9%, and the prices of the coal mining and washing industry rose 12.1%, affecting PPI by about 0.50%. The production of some high energy-consuming industries is limited, and prices have increased a lot, of which the prices of non-ferrous metals smelting and Calendering industries rose 2.9 percent, cement and other non-metallic mineral products rose 2.9 percent, chemical raw materials and chemical products manufacturing rose 2.0 percent, and ferrous metal smelting and Calendering processing prices rose 1.8 percent, affecting PPI by about 0.57 percent. In addition, factors such as the rise in the price of imported natural gas pushed up the prices of the domestic gas production and supply industry by 2.5%, while the decline in international iron ore prices and other factors led to a 8.7% drop in the price of the domestic ferrous metal mining and dressing industry.
The national consumer price index (CPI) rose 0.7% in September from a year earlier, unchanged from a month earlier, according to data from the National Bureau of Statistics on Thursday. The PPI (producer price index) rose 10.7 per cent from a year earlier, a record high and 1.2 per cent higher than the previous month. In addition, the scissors gap between PPI and CPI continued to hit an all-time high in September.
[Ministry of Science and Technology: support Shenzhen's deep participation in strategic, forward-looking, and basic major scientific research layout] the State Development Office held a press conference on the main progress and results in the first anniversary of the implementation of Shenzhen's comprehensive reform pilot project. Shao Xinyu, vice minister of science and technology, introduced at the meeting that in the next step, the Ministry of Science and Technology will further strengthen its efforts to support Shenzhen in playing a supporting and leading role in scientific and technological innovation. We will support Shenzhen in accordance with the requirements of the "four orientations", focus on the major national strategy and the major needs of Shenzhen's development, and continue to develop and strengthen major innovation platforms such as the State key Laboratory and the National technological Innovation Center. We will support Shenzhen's deep participation in the strategic, forward-looking and basic layout of major scientific research.
[Shenzhen: speeding up the formulation of the list of Special measures for Shenzhen to relax Market access] Shenzhen Mayor Qin Weizhong said at a news conference of the State Information Office that with the strong support of relevant state ministries and commissions and Guangdong Province, we will actively promote the construction of pilot cities for business environment innovation across the country, speed up the formulation of a list of special measures for relaxing market access in Shenzhen, and launch more reform and new measures. By 2025, Shenzhen will strive to become one of the world's advanced cities in terms of business environment, and strive to become the best place for global innovation, entrepreneurship and investment development.
According to the official website of the Embassy of the people's Republic of China in the United States of America, on October 13, the relevant official Twitter account of the US State Department posted photos and tweets of Deputy Secretary of State Fernandez and Assistant Secretary of State for Asia-Pacific Affairs Kangda meeting with Xiao Meiqin, the "representative" of the Taipei Economic and Cultural Representative Office. Falsely claim that the United States is "rock solid" in its commitment to Taiwan, and look forward to further deepening US-Taiwan relations. According to another report, the US side also invited Taiwan's "army commander" Xu Yanpu to come to the United States. The words and deeds of the United States have seriously violated the one-China principle and the provisions of the three Sino-US joint communiques, sending extremely wrong and irresponsible signals to the outside world. The Chinese side firmly opposes and strongly condemns it and has made solemn representations to the US side.
On October 13, 2021, Italy, chair of the Group of 20 (G20), hosted a meeting of G20 finance ministers and central bank governors in Washington, USA. A communiqu é was issued after the meeting to discuss the global economic and health situation, support for low-income countries to cope with the impact of the epidemic, sustainable finance, cross-border payments, and international taxation. Yi Gang, governor of the people's Bank of China, attended the meeting and spoke by video link. The meeting held that the global economy continues to recover, but the recovery momentum is clearly divided, and the downside risks related to the novel coronavirus epidemic are prominent.
[Xi Jinping sent a congratulatory letter to the 130th China Import and Export Commodities Fair] President Xi Jinping sent a congratulatory letter to the 130th China Import and Export Commodities Fair (Canton Fair). Xi Jinping pointed out: in the 65 years since its establishment, the Canton Fair has made important contributions to serving international trade, promoting internal and external connectivity, and promoting economic development. At present, the century-old changes in the world and the epidemic situation in the century are intertwined and superimposed, and the world economy and trade are facing profound changes. The Canton Fair should serve to build a new development pattern, innovate mechanisms, enrich business formats, expand functions, and strive to become an important platform for China's omni-directional opening up to the outside world, promoting the high-quality development of international trade, and connecting domestic and international circulation. China is willing to join hands with other countries in the world to uphold true multilateralism and promote the building of a high-level and open world economy. The 130th China Import and Export Commodities Fair opened on the same day in Guangzhou, Guangdong Province, with the theme of "promoting domestic and international circulation", jointly sponsored by the Ministry of Commerce and the people's Government of Guangdong Province.
Terminal information
[TSMC's third-quarter net profit is NT $156.3 billion market estimate of NT $149.59 billion] TSMC's third-quarter net profit is NT $156.3 billion, and the market estimates NT $149.59 billion. The company's gross profit margin for the third quarter is 51.3%, with market estimates of 50.6%.
[TSMC Wei Zhe Jia: capacity shortage will continue until 2022 the Japanese Fab plant is expected to start production in 2024] TSMC CEO Wei Zhe Jia said at the third quarter law conference that TSMC expects the supply chain to maintain high inventory for a long time for a long time, and the capacity shortage will last until the whole of 2022. Wei Zhijia also said that the Japanese Fab plant will use 22nm and 28nm, and construction is expected to begin in 2022 and go into production in 2024. Earlier, according to the Nikkei News, TSMC will cooperate with Sony, Denso and other Japanese companies to build a 20nm logic chip manufacturing plant in Kumamoto Prefecture, Japan, with a total investment of 800 billion yen.
[byte jump related companies buy shares in Guangzhou Semiconductor] Sky Eye check shows that recently, industrial and commercial changes have taken place in Shenzhen Guangzhou Semiconductor Technology Co., Ltd., with new byte jump related companies such as Beijing Quantum Jump Technology Co., Ltd. as shareholders, at the same time, the company's registered capital increased from 2.9972 million yuan to about 3.4312 million yuan, an increase of about 14.48%. Shenzhen Guangzhou Semiconductor Technology Co., Ltd. was established in January 2020, the legal representative is Zhu Yisheng, the scope of business includes micro-nano chip design software development, technology consulting and technology transfer.
[new device may break the energy efficiency limit of photovoltaic cells] recently, a research team at Kyoto University in Japan developed a new device that converts heat into light and uses photovoltaic cells to generate electricity, thereby improving energy conversion efficiency. At present, the theoretical limit of energy conversion efficiency of silicon photovoltaic cells is about 30%, while the conversion efficiency of thermooptic power generation can theoretically exceed 35%. As a new technology which helps to realize the decarbonization society, thermo-photovoltaic power generation is scheduled to be put into use in 10 years' time. In the experiment, the team heated the light source to about 1000 ℃ and found that photovoltaic cells made of indium, gallium and arsenic could get more light. This result goes beyond the so-called blackbody limit. It has been confirmed that the current generated by photovoltaic cells is about 10 times that of previous thermo-photovoltaic devices.
[market research firm Counterpoint downgrade 2021 H2 smartphone shipment forecast] Semiconductor supply shortages have a severe impact on the smartphone industry, Counterpoint Research's latest quarterly global smartphone shipments forecast that smartphone shipments in 2021 are expected to grow by only 6 per cent year-on-year to reach 1.41 billion units. Counterpoint had forecast smartphone shipments to grow by 9 per cent in 2021, or about 1.45 billion units.
[automobile industry: "Golden Nine" is not good enough and "Silver 10" is getting better] Wholesale passenger cars sold in September were 1.737 million, year-on-year-16.1%, month-on-month + 15.0%, compared with 19-year-on-year-9.0%; retail sales were 1.582 million, year-on-year-17.3%, month-on-month + 9.0%, compared with 19-year-on-year-11%.
[Tianfeng Securities: production, marketing and profits of the automobile industry are expected to gradually recover in the fourth quarter] Tianfeng Securities reported that the whole vehicle has the great logic of electrification and intelligence, and basically faces up in the medium and long term, and can be concerned about bargains in the short term; parts are more cost-effective at the present stage, so it is recommended to select the track leader. With the gradual easing of the shortage of chips and the stabilization of raw material prices and other favorable factors, the production, marketing and profits of the automobile industry are expected to gradually recover in the fourth quarter of 2021, superimposed by the big wave of automobile intelligent electric power, and the fundamentals and valuation are expected to resonate upward.
[Biden administration announces large-scale expansion of US coastal wind farms] on October 13, local time, US Interior Secretary Deb Harland announced that the Biden administration was planning to expand wind farms in coastal areas of the United States, so as to expand the capacity of offshore wind power in the United States, advance the government's plan to deal with climate change, and accelerate the realization of the goal of a clean energy economy. Harland said the Marine Energy Administration is exploring rentable waters along the Atlantic and Pacific coasts, the Gulf of Maine, the Gulf of New York, the mid-Atlantic and the Gulf of Mexico, as well as near North Carolina, California and Oregon. By 2025, the United States may have as many as seven new leasable waters. In March, the US government announced a plan to support US offshore wind energy projects to launch a "clean energy revolution".
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