[SMM Metal Morning reference] Metal closed higher across the board | Lun Copper rose to its highest level in a month | China's magnesium ingot exports increased by 43.8% month-on-month in October.

2021SMM South China Nonferrous Metals Industry Annual meeting invites you to get together in Foshan in December!

The list of some guests attending the 2021SMM South China Nonferrous Annual Conference has been announced!

SMM Iron and Steel Morning meeting minutes: yesterday even iron wide shock, the main contract closing price 616.5, up 5.84% throughout the day; port spot traders continued to rise 30-40 yuan / ton, some merchants actively shipped; steel mills procurement caution. The spot transaction at the port was mediocre yesterday. The turnover of PB powder in Shandong area was 645-680 yuan / ton, an increase of 0-30 yuan / ton over the previous day. Trading volume of PB powder in Tangshan area is 645-650. An increase of 10-20 yuan / ton over the previous day. The price of PB powder in Jiangnei is 740 yuan / ton. According to SMM analysis, iron ore futures rose for four consecutive days due to the rebound in steel mill profits and the completion of crude steel flat control tasks, resulting in increased market expectations for the resumption of blast furnace production. However, from a fundamental point of view, Hebei Tangshan, Handan and Sichuan issued severe pollution weather warning and air pollution prevention and control measures at the same time yesterday. As a result, some sintering machines and blast furnaces will be centrally shut down again, iron ore needs to be suppressed, and there may be limited room for ore prices to continue to rise in the future. [reprint needs to retain provenance-Shanghai Nonferrous net] Coke cumulative price reduction of 1400 yuan / ton hot rolled thread short-term market is promising [SMM Iron and Steel Morning meeting Summary] https://hq.smm.cn/steel/content/101674761

"Coke cumulative price reduction of 1400 yuan / ton hot rolled thread short-term market is promising [minutes of SMM Iron and Steel Morning meeting]

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The dollar index jumped more than 0.3% on Wednesday, hitting its highest level since last August and rising 0.86% since the beginning of November. In terms of crude oil, international oil prices were basically stable on Wednesday. The January crude oil futures contract, which is the most actively traded in NYMEX, fell 0.11%, or 0.14%. ICE1 monthly Brent crude oil futures fell 0.06 U.S. dollars, or 0.07 percent.

In terms of outer disk metals, Lun Copper rose to its highest level in a month on Wednesday, other metals prices also rose, signs of tight supply further supported metal prices, and most metal inventories in LME warehouses fell. Among them, Lunni night trading continued to rise, rose more than 4% at one point, and closed up 2.94% after a slight pullback in late trading. Lunxi night trading rose 2.65%, Lun copper rose 1.42%, Lun aluminum rose 1.31%, Lun lead rose 0.93%, and Lun zinc rose 0.36%.

The rising trend of metal in the inner plate is slightly lower than that in the outer disk, but it still rose across the board. After the night plate was raised, the Shanghai-tin night plate was running at a high level, up 2.63%. According to SMM, the continued closure of the Burmese epidemic port on the supply side of Shanghai and tin has no impact on the smelter for the time being, but it is necessary to pay attention to the development of the epidemic, and the overall performance on the demand side is relatively stable and has not changed much. Spot supply performance does not change much, rising water quotation fluctuates with the trend, but the overall spot transaction price remains stable in the near future. There was a pullback after Shanghai Nickel night trading rose, but it still hit an one-month high, closing up 1.75%. Shanghai copper rose for five consecutive trading days, hitting a new intramonth high and closing up 0.84%.

In precious metals, COMEX gold futures closed slightly higher on Wednesday, ending a four-day losing streak after falling below the key psychological barrier of $1800 earlier this week, hit by rising US bond yields.

Today's macro focus on Germany's third quarter after the quarterly adjustment of GDP quarterly final value, Germany's December Gfk consumer confidence index and other data.

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"[overnight market] Metal is up 2.63% in Shanghai and tin | the dollar index jumped by more than 3%.

U. S. stocks closed mixed on Wednesday. The Dow fell 9.42 points, or 0.03%, to 35804.38; the Nasdaq rose 70.09 points, or 0.44%, to 15845.23; and the Standard & Poor's 500 Index rose 10.76 points, or 0.23%, to 4701.46.

[SMM aluminum rod processing fee market: supply incremental aluminum rod processing fee fell slightly] SMM November 24: Shandong 1A60pu aluminum rod processing fee ex-factory price rose 700 yuan / ton, the average price was 750 yuan / ton, down 25 yuan / ton compared with yesterday, Henan 1A60 aluminum rod processing fee is 700-750 yuan / ton. "check the details.

[SMM analysis: Shanghai lead Sanlianyang rose more than 2 per cent again under the support of Kujia overhaul] after a full week of malaise last week, the main force of Shanghai lead rebounded this week and continued to rise after the opening of trading today, rising more than 2 per cent at one point, recording a long-lost Dayangzhu. To sum up, the good export data is positive for the market, and the news of Glencore's production reduction at overseas zinc smelters also gives a boost to lead on the side, so all kinds of good news superimposes the background of the recent rebound of domestic black series to boost the general rise of non-ferrous metals. Domestic lead prices are out of the sun three times in a row. SMM believes that the continuous decline in domestic social stocks of lead ingots and the reduction of lead ingots are expected to continue to boost lead prices this week. "View details

[SMM Analysis: overseas Lithium Mine + Lithium Salt Integration Construction is gradually deepening] with the gradual increase in lithium ore and lithium salt prices, many overseas mines have gradually promoted their mine + salt integration construction. Australia, Europe, the United States, Indonesia and other regions have miners supporting the construction of smelters. "check the details.

[SMM analysis: SS contract late in the day to pull up spot prices stop falling steel mills up 200stainless steel hit the bottom? The stainless steel SS contract rose in late trading, while the SS2201 contract broke through the 18000 yuan / ton mark, closing up 3.63%. Since the SS2201 contract hit the 17000 mark last Friday, it has been revised continuously this week, with a cumulative increase of more than 1000 yuan / ton. Taken together, stainless steel futures contracts and stainless steel spot prices now begin to fluctuate after hitting the cost line, but overall, stainless steel is expected to be in the future. "check the details.

[SMM Hangzhou thread weekly inventory: price stop rebound incomplete specification obvious inventory decline slightly narrower than last week] the spot price of Hangzhou thread rebounded this week, as of the 24th, Hangzhou Shagang spot price 4800, up 150,170 yuan / ton than the previous low, the transaction is more hot, inventory continues to decline, but local resources are tight, the phenomenon of incomplete specifications is more obvious, inventory decline is slightly narrower than last week. As of November 23, the social inventory of building materials in Hangzhou was 318000 tons, down 47000 tons from last week, or 12.88 percent lower than the previous week. It decreased by 80,000 tons over the same period last year, down 20.1% from the same period last year. "View details

SMM survey: how does the market view the new strategy of steel mills' price increase and shipment? The stainless steel market once again experienced various price adjustments by steel mills this week, and the second round of the game between steel mills and retail investors kicked off. Yesterday, scrap rose and stainless steel rose, and the market kindled a flame of hope after three o'clock. Today's steel mill guidance price also confirmed yesterday's market news, this steel mill rose, the other steel mill rose. "check the details.

[SMM analysis: the cost of tank furnace is 8% lower? Petroleum coke calcination process comparison] Petroleum coke calcination process is divided into two kinds, one is rotary kiln calciner process, the other is tank calciner process. The coke formation rate of the two processes is respectively. "View details

[the recovery cycle is approaching gradually and the blast furnace operating rate will pick up in December] according to SMM research, the blast furnace operating rate counted by SMM on November 24th was 78.9%, which decreased by 0.59% compared with the previous month, and rebounded by 1.22% compared with the previous month. Some blast furnaces in Baowu system resumed production this week, but under the influence of the shutdown of steel enterprises in North China, Southwest China and East China and the influence of blast furnace maintenance, the overall operating rate of blast furnace still declined slightly. In the follow-up, the blast furnace of large state-owned enterprises will resume production in December, and the operating rate of blast furnace is expected to pick up significantly. Considering that the preparatory period for the Beijing Winter Olympic Games is coming, the recovery period of this round of blast furnace operation rate is relatively short, and there will be more room for decline after a short-term rebound. "View details

[SMM comment: Wulanchabu chromium enterprises plan to reduce production by 15% in December and the supply and demand of ferrochromium is expected to balance] according to smm, since October, the situation of power cuts in Inner Mongolia has been greatly alleviated, the operating rate of ferrochromium manufacturers has increased, the output of ferrochromium has increased significantly, and the supply has increased sharply. Downstream stainless steel plants are still subject to policy restrictions that can not exceed last year's output, the demand for ferrochromium is difficult to increase significantly, and the spot retail market has increased. Inner Mongolia West Electroweb due to the early high price of thermal coal, coal-fired power generation enterprise costs upside down, electricity prices rose sharply, the average electricity price to more than 0.70 yuan, restricted iron plant electricity charges of more than 1 yuan / kilowatt-hour, ferrochromium production costs increased, although the recent coke prices have fallen, but ferrochromium prices continue to fall, ferrochromium manufacturers reduce profits, a few restricted enterprises are closed upside down because of costs. "View details

[SMM data: China's magnesium ingot exports increased by 43.8% month-on-month in October] SMM November 24: according to customs data, China's magnesium ingot exports in October were 24329.4 tons, an increase of 43.8% over the previous month, a year-on-year increase of 58.5% from January to October, and a cumulative export increase of 31.4% over the same period last year. "View details

[SMM analysis: domestic and foreign price differences lead to continued increase in domestic molybdenum oxide and ferromolybdenum exports in October] SMM November 24: customs data show that China's exports of ferromolybdenum and molybdenum oxide in October 2021 were 3178 tons, an increase of 8.35 percent over September. At the same time, due to rising domestic and foreign prices, China's ferromolybdenum import volume is zero this month, and the ferromolybdenum import window is closed. "View details

[SMM comment: Lido news gathering praseodymium-neodymium system market bullish sentiment spread] the supply of thermal coal is tight in winter, and the Ministry of Industry and Information Technology recently issued a "Motor Energy efficiency improvement Plan" to encourage the development of energy-saving rare earth motors to replace traditional industrial motors and respond to the call for energy conservation and emission reduction. On the evening of the 23rd, the rare Exchange issued a suspension of special bidding announcement, praseodymium and neodymium products supply side shortage panic gradually. The two big bullish news gathered, the bullish sentiment was strong, and the selling sentiment of the consignors spread. "View details

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[Ministry of Ecology and Environment: eliminating backward production capacity involving heavy metals and eliminating excess capacity in accordance with regulations] the Ministry of Ecology and Environment openly solicited opinions on "opinions on further strengthening the Prevention and Control of heavy Metal pollution (draft for soliciting opinions)". It is suggested that the elimination of backward production capacity should be intensified. According to documents such as the guiding catalogue of industrial structure adjustment and the list of backward production processes and equipment for the elimination of industrial solid wastes that cause serious environmental pollution within a time limit, the backward production capacity involving heavy metals and excess capacity will be eliminated in accordance with the rules and regulations. In order to meet the needs of environmental quality improvement, qualified areas can formulate policies for the elimination of backward production capacity with higher standards, and promote the phase-out of restricted process equipment. We will strictly implement relevant regulations and standards on eco-environmental protection and energy consumption, and urge a number of production capacity that still cannot meet the requirements after rectification and reform to be closed and withdrawn in accordance with the regulations.

[China Ruilin provides engineering design phase II for Africa's largest copper smelter is expected to be put into production in the second quarter of next year] the Camoa-Kakoula Copper Mine in the Democratic Republic of the Congo (DRC) signed a basic engineering contract with China Ruilin Engineering and Technology Co., Ltd. China Ruilin will be responsible for providing basic design services for its "direct crude copper flash smelter". The first phase of the project was put into use on May 25, while the second phase is under construction and is expected to begin operation in the second quarter of 2022. These two stages are expected to produce about 400000 tons of copper concentrate per year. At present, a study on the construction of the third phase of the concentrator is being carried out.

Orders for copper poles have fallen sharply since the rise surged on Friday, according to SMM. Although the rising water has fallen somewhat this week, the recovery of orders for copper poles is still mediocre. Under the current copper price, the downstream is bearish in the future, keeping the wait-and-see mood to place orders cautiously.

[general Administration of Customs: China exported 479600 tons of unwrought aluminum and aluminum products in October, up 14.6% from the same period last year.] according to new data from the General Administration of Customs, China's exports of unwrought aluminum and aluminum products increased by 14.6% year-on-year in October, according to new data from the General Administration of Customs. In October, China's imports of unwrought aluminum and aluminum products increased by 15.8% compared with the same period last year. In October, China's imports of bauxite and its concentrates increased by 19.3% year-on-year. From January to October, imports of bauxite and its concentrates dropped by 5.0% compared with the same period last year.

[Shandong Alumina downgrade liquid Alkali purchase Price] according to SMM: Shandong Alumina Plant lowered the purchasing price of liquid alkali again today, 32% ionic membrane liquid alkali was reduced by 30 yuan / ton, the ex-factory price was 850 yuan / ton, and the 100% price was about 2656 yuan / ton. The shipment of low-grade alkali in the province is general, and the short-term decline is difficult to change.

On November 24th the Indonesian president reiterated his plan to stop the export of all commodity raw materials, possibly by 2022 for bauxite, 2023 for copper and 2024 for tin. Earlier, in October, Indonesia's president said he planned to "hit the brakes" on exports of all commodity raw materials.

[Tara mine stopped production due to irrigation problems] production at the Tara mine has stopped due to an increase in water flowing into the mine. While drilling for a 1-kilometer-long ventilation shaft, a large amount of water was encountered to enter the mine, causing production to stop. The inflow exceeds the capacity of the drainage infrastructure. Shutdown was carried out in order to protect infrastructure and equipment while eliminating unnecessary water addition. Measures have been taken to prevent water from flowing out of the pilot wellbore. It is not clear how long the shutdown will last.

[Myanmar epidemic repeated port closure if long-term closure may affect tin supply] according to SMM tracking, the border crossings that were repeatedly closed due to the WA epidemic in Myanmar are still closed, and according to the local announcement on November 19, the closure will be extended for no less than 14 days, so the impact of this round of closure is expected to last until early December. According to the preliminary investigation by SMM, about 1000 metal tons were imported from Myanmar in November. At present, some large domestic smelters have stopped purchasing tin ore, which shows that the raw material inventory of smelters has not been affected for the time being. However, taking into account the uncertainty of the epidemic, if the port is closed for a long time, even if the local way to reduce direct contact with people to restore a certain degree of goods in and out, it may still have an impact on the domestic mine-end raw materials.

[Pu Tailai: the company is not currently involved in upstream lithium mining] some investors asked on the investor interactive platform: is the company involved in lithium mining cooperation? Putailai said on the investor interaction platform on November 24 that it is not currently involved in upstream lithium mining.

[Fulin Seiko: the new generation of high-pressure solid density lithium iron phosphate cathode materials developed by the subsidiary is being supplied in bulk in Ningde era] Fulin Seiko said on the interactive platform that the company's subsidiary Jiangxi sublimation has become a qualified supplier of Ningde era. The new generation of high-pressure solid-density lithium iron phosphate cathode materials are being supplied in bulk in Ningde era.

[lithium hexafluorophosphate accelerated inner volume: lock single frequency expansion] since the beginning of this year, domestic lithium hexafluorophosphate enterprises continue to harvest purchase orders. According to the incomplete statistics of the battery network, the current purchase order volume of lithium hexafluorophosphate is not less than 165600 tons, most of the procurement period is more than 1 year, and some orders are as long as 5 years.

[Vale is considering increasing iron ore production or setting its 2022 production guidance at 330-350 million tons] Vale expects to increase iron ore production next year, though at a slower pace than some analysts had expected. After a roller coaster year, this could increase the volatility of iron ore prices. Vale management plans to seek board approval on Thursday to provide 330 million to 350 million tonnes of guidance for production in 2022, according to people familiar with the matter.

[Zheng Shang revised speculative position limit for thermal coal option contracts] Zheng Shangsuo revised the measures for risk Control and Management of Futures Trading in Zhengzhou Commodity Exchange, which is hereby issued. This revision applies to thermal coal futures 2112 and follow-up contracts, which will enter into force as of November 25, 2021. The speculative position limit of the thermal coal option contract held by non-futures company members and clients in a unilateral month is adjusted to 2000, which is applicable to the thermal coal option contract with the target month of 2202 and subsequent thermal coal option contracts.

[statistics Bureau: coking coal and coke fell 19.8% and 16.8% respectively in mid-November] according to the data of the National Bureau of Statistics, according to the monitoring of the market prices of 9 categories and 50 important means of production in the field of national circulation, compared with the first ten days of November in mid-November, the prices of 14 products rose, 35 decreased and 1 remained flat. Of these, coking coal (main coking coal) and coke (secondary metallurgical coke) fell by 19.8% and 16.8% respectively, while caustic soda (liquid alkali, 32%) fell by 19.5%.

[laughter Technology: fixed increase of 2.9 billion plus silicon carbide just finalized 6-inch silicon carbide downstream buyer] Shao Technology made a net profit of 165 million yuan in the first three quarters of 2021, down 13.42 percent from the same period last year. By the end of the third quarter, the net cash flow generated by Luxiao's business activities was about-243 million yuan, down 269.18% from the same period last year, which the company said was caused by the rise in copper prices. In addition, the company's non-current liabilities due within one year are about 300 million yuan.

Terminal information

[some measures on supporting the Popularization and Application of New Energy vehicles in Guangxi "issued by the government of Guangxi Autonomous region on November 19, the government of Guangxi Autonomous region issued" some measures to support the popularization and application of new energy vehicles in Guangxi. "36 specific measures are put forward around the after-sales service of new energy vehicles, the layout of charging infrastructure, and the preferential parking charges for new energy vehicles. The "measures" pointed out that the proportion of new energy vehicles should be included in the conditions of government procurement, promote the growth of sales of new energy vehicles produced locally in Guangxi, vigorously carry out promotional activities for new energy vehicles, and continue to vigorously promote the construction of charging infrastructure.

[car rental company Outdoorsy is negotiating $100m electric car orders with Rivian and Ford] according to foreign media reports, RV rental company Outdoorsy is in talks with Rivian and Ford to order $100m worth of electric trucks and SUV, in the next few years to build its own electric fleet. Outdoorsy CEO Jeff Cavins said in an interview on Nov. 19 that the company plans to order about 1000 Rivian electric trucks, which will be used by its customers and employees.

[Ford starts building charging facilities that look like Tesla super charging piles] according to foreign media reports, Ford has begun to build its own electric vehicle charging piles in the United States, and the company's charging infrastructure is reminiscent of Tesla's super charging piles. Recently, Ford has been trying to enter the field of electric vehicles, the company's Mustang Mach-E electric SUV has been listed, in addition to its Fmur150 Lightning electric pickup truck is about to go on sale.

[Zhejiang will build nearly 50 hydrogen filling stations to speed up the cultivation of hydrogen fuel cell vehicle industry] on the afternoon of November 24, the Development and Reform Commission of Zhejiang Province held a media briefing to introduce the relevant situation of the "implementation Plan for speeding up the cultivation of hydrogen fuel Cell vehicle Industry in Zhejiang Province" (referred to as the "implementation Plan"). According to the implementation Plan, by 2025, the ecology of the hydrogen fuel cell vehicle industry in Zhejiang Province will be basically formed, and there will be a number of competitive leading enterprises in the industrial chain. Positive progress has been made in tackling key technologies such as hydrogen fuel cell related basic materials and key components, reaching the domestic advanced level. The system of policies and regulations has been gradually improved. Remarkable achievements have been made in the application of industrialization in key areas. Nearly 5000 hydrogen fuel cell vehicles have been popularized and applied in public transportation, ports, intercity logistics and other fields, and nearly 50 hydrogen filling stations are planned and built.

Planned production capacity of 20GWH! Penghui Energy plans to build a 6 billion energy storage and power battery manufacturing base] Penghui Energy plans to build a Penghui smart energy storage and power battery manufacturing base in the northern ecological new area of Liuzhou City, Guangxi, with the main layout of lithium battery cells and PACK production lines. The total investment of the project is expected to be about 6 billion yuan, of which the total investment of the first and second phases of the project is 1.2 billion yuan, and the fixed assets investment of the first and second phases of the project is about 800 million yuan. The overall planning and layout capacity of the project is 20GWH, the construction capacity of the first phase is 2GWh, and the construction capacity of the second phase is 2GWh.

[investment in semiconductor plant construction reaches an all-time high SEMI: of nearly $27 billion next year] Semiconductor production capacity is in short supply, and manufacturers are actively expanding production. (SEMI), the International Semiconductor Industry Association, estimates that investment in plant construction is expected to reach a record high of US $18 billion this year, and will further approach US $27 billion in 2022. Driven by markets such as electric cars, the Internet of things, 5G mobile phones and data centre servers, global semiconductor production is expected to grow by more than 20 per cent this year, and the equipment market will also grow by more than 30 per cent, SEMI said.

[it is said that Samsung Electronics has decided to build a chip factory in Texas against Taiwan SMC's US factory] according to foreign media reports, Samsung Electronics has decided to build an advanced chip factory in Texas. Samsung has decided to locate the plant in Taylor, Texas, about 30 miles from its Austin chip manufacturing center, according to people familiar with the matter. This is a victory for the Biden administration as it gives priority to supply chain security and semiconductor capacity in the United States.

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