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!
Summary of SMM Steel Morning meeting: yesterday's snail was strongly pulled up, the spot rebound intensified, and the transaction was more hot. In the near future, the snail stopped falling and rebounded, with large differences in inventory and demand performance in the spot side, with increases ranging from 50 to 200. In the short term, according to a survey by SMM, the operating rate of blast furnace this week is 78.9%, which is basically the same as last week. However, some large state-owned enterprises will resume production in December, and there may be a certain increase in supply. However, with the Winter Olympic Games approaching and a short-term rebound, there may be more room for decline, and the overall impact is relatively limited. The overall performance of the demand side is OK in the near future, the procurement of terminal rigid demand is mostly, and the period snail rebounds strongly, and some speculative demand appears. Taken together, near the main contract delivery month, the basis repair is expected to continue to strengthen, and many traders feedback that the market supply is tight, it is expected that the current price of short-term thread period may be strong.
Iron ore high opening and low thread trading hot [minutes of SMM Steel Morning meeting]
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The dollar index remained strong, fluctuating at an one-month high. As for crude oil, crude oil futures held steady as US traders took a holiday, with New York crude oil futures trading just above $78 a barrel for the third day in a row and light trading during the US Thanksgiving holiday. West Texas Intermediate futures for January delivery fell 0.5 per cent to $78.03 a barrel when trading was suspended around 1 p.m. New York time. Because of the holidays, the contract can only be settled on Friday. January Brent crude fell 3 cents to settle at $82.22 a barrel.
The metal market fell mostly, with only Len aluminum up 0.33% and lun lead up 0.82% on the outer disk. Lunni hit a seven-year high on Thursday, and Lunxi hit a record high, but both fell back later. Both metals were helped by low inventories, indicating tight supply and a boost to the demand outlook. LME nickel registered warehouse receipts have fallen to 62304 tonnes from more than 200000 tonnes in April. Tight supply has pushed spot nickel to $194 a tonne against LME three-month nickel, the highest level since 2019. LME tin registered warehouse receipts have risen to 1000 tonnes from an all-time low of 255 tonnes in October, but are still well below normal levels. Spot tin is $1075 higher than LME's three-month tin premium, indicating a shortage of spot supply. Lun copper dived in intraday trading, giving up previous gains to close down 0.79%. Lun zinc fluctuated sharply in intraday trading and closed down 0.41%.
The performance of metal in the inner disk was not as good as that in the outer disk, with the exception of Shanghai lead. Shanghai copper night trading continued to decline, falling at the high of the month, closing down 1.08%. Citic Construction Investment Futures said that standing at the current point, it is not pessimistic about copper prices, and the logic in the medium term (the next six months) is that there is still an accelerated process of global economic recovery. long-term (the next 2-3 years) logic is the realization of re-electrification demand in the context of double carbon. If the epidemic is brought under control, energy shortages ease, US fiscal spending falls and China's economy picks up, then the global economic recovery is expected to accelerate and stimulate copper prices to strengthen. Shanghai aluminum night trading opened after the dive, and then fluctuated to close down 0.28%, Shanghai lead night trading fell, but still held some of the gains, closed up 0.36%. Shanghai zinc once dived and pulled up, but after diving again, it fluctuated slightly, closing down 0.72%. Shanghai Nickel and Shanghai Tin fell back one after another, with Shanghai Nickel down 1.95% and Shanghai Tin down 1.49%.
In precious metals, gold prices held steady, but the previous rise in the dollar has pushed gold below the key level of $1800, which has fallen 4.5 per cent since last week's five-month high.
Today's macro aspect focuses on the monthly rate of German import price index in October and the leading ECRI indicators in the United States in the week ending November 19.
"[overnight market] Metal multi-downside Lunickel hit a seven-year high in Lunxi and hit a record high in intraday trading.
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U. S. stocks are closed for Thanksgiving on Thursday.
[SMM analysis: centralized delivery of the national network stimulates copper cable demand to pick up] in the past, copper prices fluctuated sharply, with Shanghai copper rising to a high of 76000 yuan / ton, and falling back to the vicinity of 70, 000 yuan per ton, with ups and downs in copper prices, making the State Electroweb once again on the sidelines, placing orders sharply lower than the previous month. In November, copper prices basically fluctuated in the range of 69000 yuan / ton to 72000 yuan / ton. in the face of the demand for centralized delivery at the end of the year, the orders issued by the State Grid increased significantly, and the orders of cable enterprises finally improved and returned to the normal level of August and September. Let the SMM Copper Research Group take you to review the basic situation of the completion of Electroweb investment and delivery of the national network this year. "View details
[SMM data: weekly inventory of domestic electrolytic aluminum decreased by 21000 tons to 1.017 million tons] on November 25, SMM counted domestic electrolytic aluminum social inventory of 1.017 million tons, weekly reduction of 21000 tons, Nanhai, Shanghai and Gongyi and other major consumer areas contributed the main decline, Wuxi continued the trend of small storage. "View details
Customs data show that China's export volume of aluminum wheels in October 2021 was 65400 tons, down 25.79% from the same period last year, and 21.28% month-on-month. SMM believes that the decline in aluminum wheel exports is not a matter of a province, a matter of a country, but an overall phenomenon of China's aluminum wheel industry. "check the details.
[national aluminum bar inventory weekly review: weekly aluminum bar inventory dropped by 21600 tons to 78900 tons] the latest aluminum bar inventory data from SMM statistics show that the current aluminum bar inventory has decreased by 21600 tons to 78900 tons compared with last Thursday, a decrease of 21.5%. So far, aluminum bars have been in storage for six consecutive weeks. From a regional point of view, in the past week, Foshan, Huzhou area, a large decline, Wuxi Changzhou also maintained reduced storage. "View details
[SMM analysis: there is no hope that the liquid alkali market will stop falling in the short term? SMM11 March 25: since the end of October, the liquid alkali market has entered a downward channel. Up to now, the transaction price of Shandong liquid alkali continues to decline. Today, the transaction price of 32% ionic membrane liquid alkali in Shandong is concentrated at 800,900 yuan / ton. SMM Shandong 32% ionic membrane liquid alkali price index recorded 850 yuan / ton, down 520 yuan / ton from the beginning of the month, a drop of 38%. "check the details.
[SMM analysis: imports of cobalt intermediate products fell sharply in October. The shortage of cobalt raw materials inventory will continue until 2022 Q1] China's total cobalt raw material imports in October 2021 totaled 5399 metal tons, down 31 per cent from the previous month and 49 per cent from the same period last year. In October, cobalt wet smelting intermediates imported 5166 tons of metal (converted at 27% grade), a month-on-month decrease of 30% and a year-on-year decrease of 44%. In October, the average import price of cobalt wet smelting intermediates was 56280 US dollars per metal ton, up 5 per cent from the previous month and 94 per cent from a year earlier. The import quantity, inventory and price expectation of cobalt raw materials are discussed in this paper. "View details
[SMM concern: Weiming Group signed a strategic cooperation framework agreement with Indigo to produce 40, 000 tons of high nickel matte.] on November 24, 2021, Weiming Group and Indigo signed a strategic cooperation framework agreement to jointly invest in the development and construction of a 40, 000-ton high-grade nickel matte project in Indonesia, focusing on the utilization technology of low-grade nickel ore and tailings, with a total investment of about 400 million US dollars. Through the cooperation of the project, the company plans to increase the investment in the new energy industry chain and expand the company's layout in the new energy field by combining the company's advantages in environmental protection energy and equipment manufacturing. Once the project is announced, it means that Indonesia's high-matte project will add another 40, 000 capacity. So far, Indonesia's high-matte project is expected to be put into production plus existing capacity totaling 300000 nickel tons per year. "View details
[SMM hot coil inventory: driven by supply reduction, hot coil inventory continued to decline this week] this week's total hot-rolled coil inventory of 3.2212 million tons, compared with last week-50200 tons, month-on-month-1.53%, year-on-year-3.04%. The month-on-month declines in total hot rolling inventory, social inventory and in-plant inventory have all expanded this week. "View details
[SMM Analysis: successful trial production of Jilin Zhongze Ji Iron Molybdenum Deep processing Project] SMM learned that after the completion of the project, the output of molybdenum powder will account for 35% of the total domestic market, molybdenum head will account for 28%, hot-rolled plate will account for 25%, cold-rolled plate will account for 20%, molybdenum electrode will account for 25%, and molybdenum wire will account for 30%. It will have a certain impact on the existing supply side of the domestic molybdenum city. "View details
[SMM analysis magnesium price sharp turn per ton up 1500 yuan / ton] SMM November 25:. Recently, there have been a lot of rumors in the market, and the mood in the industry is relatively nervous. in order to guard against the risk caused by price fluctuations, some downstream choose to enter the market and lock in profits in advance. "View details
[SMM analysis: the output of petroleum coke continued to increase by 6.4% month-on-month in October! SMM believes that the downward trend of petroleum coke prices shows no sign of improving, and the inventory of some refineries will continue to increase. "View details
[SMM analysis: the demand for increasing production of 1.3817 million tons of chromium ore imports in October] according to Chinese customs statistics, China's chromium ore imports in September 2021 were 1.3817 million tons, an increase of 62900 tons, or 4.77 percent, compared with the same period last year; an increase of 292500 tons, or 26.85 percent, over the same period last year. China imported 1.0708 million tons of chromium ore from South Africa, an increase of 119300 tons, or 12.54 percent, from the previous month, and an increase of 139200 tons, or 14.94 percent, from the same period last year. From January to September 2021, China's chromium ore imports totaled 13.1199 million tons, an increase of 1.7757 million tons, or 15.65 percent, over the same period last year. "View details
[SMM analysis: 206600 tons of ferrochromium imports in October supply increases iron prices down] according to Chinese customs statistics, China's imports of high-carbon ferrochromium in October 2021 were 206600 tons, down 7700 tons from the previous month, or 3.59 percent, and 8600 tons, or 4 percent, less than the same period last year. From January to October 2021, China's imports of high-carbon ferrochromium totaled 2.3036 million tons, down 39700 tons from the same period last year, or 1.69 percent. China imported 88000 tons of high-carbon ferrochromium from South Africa, a decrease of 26300 tons, or 23.01 percent, from the previous month, and 12000 tons, or 12 percent, from the same period last year. China imported 17100 tons of high-carbon ferrochromium from Zimbabwe, an increase of 9500 tons, or 125.38%, from the previous month; and an increase of 9540 tons, or 125.76%, from the same period last year. "View details
[electrolytic copper spot paste water waist halved again! According to SMM's official website, the average discount price of SMM1# electrolytic copper is 350 yuan / ton today, while it withdrew nearly 85% from an all-time high of 2200 yuan / ton last Friday, halving in a row during the week, and the contract structure of SHFE, which is nearly strong and far weak, has also been reined in. SMM believes that there are three points causing this phenomenon: 1, although the global copper electrolysis inventory remains low, the extent of domestic de-stocking may be significantly slowed down during the week. 2. The invoice problem of imported electrolytic copper that came out last week has been effectively alleviated. 3. In the face of rising water and rising copper prices downstream, when the terminal is still lack of bright spots, the operating pressure has increased sharply, and even the downstream processing enterprises in some areas have reduced and stopped production.
[Rio Tinto chief executive holds discussions with Mongolian prime minister on Oyu Tolgoi copper and gold mine] Rio Tinto chief executive Jakob Stausholm met with Mongolian Prime Minister Luvsannamsrain, this week to address issues that still threaten the future of the company's vast Oyu Tolgoi copper and gold mine. The continued expansion of the project in the Gobi Desert has been plagued by delays and cost overruns, which sparked outrage by the Mongolian government that threatened to rescind the 2009 investment agreement, which is the basis of mine development.
Zijin Mining said on Tuesday that its board of directors had approved an investment of US $769 million in the smelter for its Kamoa-Kakula copper project with (DRC) Ivanhoe Mining (Ivanhoe Mines) in the Democratic Republic of the Congo. The joint venture will reduce partners' dependence on third-party smelters to process their ore and produce crude copper, a partially purified copper.
[BHP says it needs more copper and nickel to help decarbonize in the next 30 years] recently, a BHP executive said that the global market will need four times as much nickel and twice as much copper over the next 30 years to help the world move towards decarbonization. During the transition away from fossil fuels, both nickel and copper will usher in strong consumption. Nickel is used in (EV) batteries for electric vehicles, while copper is used for wiring electric vehicles, charging stations and other renewable energy infrastructure.
[Rusal: will spin off its high-carbon assets without considering any privatisation] Rusal (00486) issued a clarification announcement late Wednesday that the company is continuing to develop plans to spin off its high-carbon assets. these include contacts with the Hong Kong Stock Exchange, the Moscow Exchange and related shareholders, but do not consider any action to privatize the company.
[successful trial production of single-zero foil billet of SPIC Aluminum-Electric Aluminum Alloy material Branch] recently, the trial-production of 8011 single-zero foil billet of SPIC Aluminum-Electric Aluminum Alloy material Branch was a complete success, and the surface quality and performance tests of the products met the technical requirements. The successful trial production and subsequent mass production of this product have laid a solid foundation for the subsequent transformation and upgrading of the product structure to higher-level and high value-added double zero foil billets and battery foil blanks, and also laid a solid foundation for the company to get rid of the situation of losses on the production side and enter a new stage of sustainable development.
[Shengda Resources and Dingshengxin Mining signed the acquisition Agreement of Guizhou Pigongtang lead-Zinc Mine] on November 23, Shengda Resources and Guizhou Dingshengxin Mining signed the acquisition agreement of Guizhou Pigongtang lead-Zinc Mine in Beijing Shengda Mansion. Zhugongtang lead-Zinc Mine is a rare large-scale high-quality polymetallic mine in China. It has won the "Top Ten Geological Prospecting achievements" of the Chinese Geological Society in 2018, and it is also the first super-large lead-zinc deposit in Guizhou Province.
[Gejiu air pollution tin smelter production restriction is expected to last for a limited time] recently, it has been reported in Gejiu City that some enterprises have stopped production and limited production in some parts of the city due to urban air pollution. SMM learned from the investigation of this news that the major smelters involved in the production limit and shutdown areas have indeed stopped production and limited production, because the main purpose of this production restriction is to improve the air quality in the urban core area, so the main reference index for enterprises is exhaust emissions, which have been reduced by nearly 50% according to the feedback of some enterprises. On the other hand, the duration of production restriction may be timely adjusted according to the change of air quality, so it is expected that the effect of production restriction can be eliminated after the air quality is restored.
[tin shares: promoting the healthy and sustainable development of the tin industry] recently, some shareholders are interacting on the exchange platform: according to PTTimah financial data, the world's second largest tin company made a profit of only US $4.28 million, equivalent to more than 20 million yuan, in the first three quarters of 21 years. Tin price has been low for a long time, which makes it impossible for global tin enterprises to profit from it, and the long-term capital expenditure of the tin industry is insufficient. On November 23, tin industry shares said that tin is one of China's strategic mineral resources. As a state-controlled production and operation entity, the company has been committed to maintaining national strategic security and promoting the healthy and sustainable development of the tin industry.
Cross-border acquisition of 4 lithium mine shares in 3 months! The company said that there is no lithium battery production plan for the time being.] driven by the continued high-profile demeanor, the lithium industry has recently attracted many enterprises to cross-border layout. Jinyuan shares, which once recorded four consecutive plates because of the frequent layout in the past two months, is one of them. So far, Jinyuan shares have acquired a total of four lithium salt companies. According to Jinyuan shares, the company's acquisition of lithium mining initially determined that the amount of LiCl resources is about 160000 tons, and the company will speed up the mass production of lithium products in the future.
[after signing a number of long orders of lithium hexafluorophosphate, polyfluoroduo plans to increase capital by no more than 5.5 billion.] Polyfluoroduo plans to raise no more than 5.5 billion yuan for the annual production of 100000 tons of new electrolyte lithium salt project and supplementary working capital. After the completion of the project, it will form an annual production line with an annual output of 80,000 tons of lithium hexafluorophosphate, 10,000 tons of lithium difluorosulfonimide and 10,000 tons of lithium difluorophosphate.
[Tianqi Lithium Industry: total planned production capacity of lithium chemical products in the medium term exceeds 110000 tons / year] Tianqi Lithium Industry said on the interactive platform that the company currently has a total capacity of about 44800 tons / year of lithium chemical products. The company also has 48000 tons of lithium hydroxide and 20, 000 tons of battery-grade lithium carbonate under construction, and the planned production capacity of lithium chemical products in the medium term exceeds 110000 tons / year.
[Zhenhua New material: fund-raising project "Lithium Ion Battery cathode material production Line Construction Project (Shawen II)" will be postponed] Zhenhua New material announcement, combined with the actual construction situation and investment progress of the company's fund-raising project, the company plans to extend the time for the "Lithium Ion Battery cathode material production Line Construction Project (Shawen Phase II)" to reach the scheduled usable state until December 31, 2022.
[developments in overseas Mines] it is reported that Vale has restarted the environmental licensing process for the Apollo iron ore project in the state of Minas Gerais, Brazil. In a report to the Minas Gerais state legislature, Vale said the Apollo iron ore project was completed after a "significant revision" of the mine's original plan. According to the revised plan, the environmental impact of the project has been reduced by eliminating the demand for tailings dams. It also reduces the total area required for the iron ore project. It is reported that Vale's Apollo project, located in the state of Minas Gerais, involves the construction of a new processing complex and railway branch line to connect the operation with the Victoria-Minas railway (EFVM). The project, which covers several towns such as Caet é, Santa Barbara, Raposos and Rio Acima, has a designed annual production capacity of 14 million tons and an estimated operating life of 29 years for (Mtpa),. The Brazilian miner is expected to obtain a license and plans to start operating the project by 2028.
Break the world record! A few days ago, Guangxi Iron and Steel Co., Ltd. successfully rolled 0.85mm × 1280mm specification steel strip, setting a new world record for the thinnest thickness of hot continuous rolling products of conventional wide band steel in the industry. The birth of 0.85mm very thin steel coil not only validates the advanced level of Guangxi steel hot rolling 1780mm production line in equipment control and process operation, but also another breakthrough in hot rolling technology and innovation ability of Liuzhou Iron and Steel Co., Ltd.
[analysis of global crude steel production data in October 2021: China ranks first in crude steel production] in October 2021, crude steel production in 64 countries and regions included in the statistics of the World Steel Association was 145.7 million tons, a decrease of 10.6% compared with October 2020. From January to October, global crude steel output was 1.607 billion tons, an increase of 5.9% over the same period last year.
[development and Reform Commission: coal storage in power plants continues to grow rapidly and coal supply guarantee capacity continues to improve] according to the NDRC, since mid-late November, the consumption of thermal coal has increased, but the average daily coal supply has reached 8.6 million tons, reaching a historical peak of 9.43 million tons. the average daily coal supply exceeds coal consumption by nearly 2 million tons, and coal storage in power plants continues to grow rapidly. On November 23rd, the storage of coal in power plants across the country has reached 147 million tons. According to the dispatching data of previous years, in the middle and late November every year, with the overall heating season, the consumption of thermal coal increases rapidly, and the coal storage in the unified power plant decreases gradually. For example, since November 19th last year, the coal consumption of the power plant has continued to exceed the coal supply, with an average daily consumption of nearly 700000 tons of inventory and 152 million tons of coal by the end of November. It is expected that by the end of November this year, the storage of coal in the power plant will fully exceed that of the same period last year, reaching an all-time high, and coal for power generation and heating will be effectively guaranteed this winter and next spring.
[Citic Securities: the coal sector is expected to experience another rebound in valuation repair this year] CITIC Securities Research report pointed out that the thermal coal market has rebounded in the past two weeks, the demand for replenishment has gradually increased, and coking coal prices have also shown signs of stabilizing. Futures prices have rebounded. Although the price limit policy is still being implemented, the performance of listed companies can be stable at a high level under the current price system. After the previous stock price adjustment, the leading companies have valuation attractiveness, in the context of improved sentiment, we expect the sector to experience a round of valuation repair rebound this year.
[Zimbabwe Environment Authority (EMA) approves new Aoyama steel plant project] after the Environment Authority (EMA) approved mining company Dingsen Steel to start operation, the commissioning of Mvuma, the largest steel company in the region, is ready. The project, which has a 1.5km long steel plant, an iron ore plant and a ferrochrome plant, will have an annual capacity of 1.2 million tons and 4000 to 5000 people will benefit from jobs in the value chain.
[SMM:SMM: 2022 metal silicon supply gap or show high profit status is expected to maintain | Silicon Summit] Yang Xiaoting, a senior analyst at SMM, said that under the background of the "dual carbon" policy, the metal silicon cost is a foregone conclusion, and the pricing logic has changed. It is difficult for metal silicon to rise sharply under the pressure of lowering storage at the end of the year and the postponement of production in southwest China in the short term. The superposition of uncertain factors such as southwest power supply and double control in the main production areas lead to the uncertainty of H1 supply gap in 2022, but under the support of large-scale expansion downstream, the price center of metal silicon with prefix and prefix is expected to remain at 30000-40000 yuan / ton in 2022. Under current conditions, the state of high profit of metal silicon is expected to be maintained in 2022. "View details
Hu Bin, executive director of Cofco Futures Co., Ltd., said that in recent years, the overall growth trend of China's metal silicon market has entered 2021. China's metal silicon production has increased significantly, according to Hu Bin, executive director of Cofco Futures Co., Ltd. At the same time, it is affected by power supply, double control of energy consumption and seasonal cycle. The domestic demand is strong, the consumption of silicon metal is on the rise, the rate of production and marketing is increasing year by year, and the new production capacity of organosilicon and polysilicon is put into operation. The increase in domestic trade demand and the decline in export volume have led to a continuous decline in metal silicon social inventory.
[13N ultra-high purity germanium single crystal is coming! It is reported that Anhui Guangzhi Science and Technology Co., Ltd. (referred to as "Guangzhi Technology") has successfully developed 13N (99.99999999999%) ultra-high purity germanium single crystal, breaking through the long-term blockade and monopoly of ultra-high purity germanium abroad.
Terminal information
[inner Mongolia: production capacity of wind power units and their parts and components with an annual output of more than 8 million kilowatts during the 14th five-year Plan] the General Office of the people's Government of Inner Mongolia Autonomous region issued the implementation Plan for the High-quality Development of the New Energy equipment Manufacturing Industry of the Autonomous region (2021-2025). Notice: planning during the 14th five-year Plan period, It forms an annual production capacity of more than 8 million kilowatts of wind power and its parts, more than 4 million kilowatts of solar cells and modules, more than 3.6 million kilowatts of energy storage equipment, more than 5000 sets of fuel cell vehicle stack systems, more than 5000 sets of hydrogen production and industrial by-product hydrogen purification equipment, and more than 400000 tons of hydrogen storage equipment. The output value of the new energy equipment manufacturing industry reached more than 100 billion yuan.
[Zhejiang will build nearly 50 hydrogen refueling stations to speed up the promotion and application of hydrogen fuel cell vehicles] 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 industrialization of key areas in Zhejiang Province will achieve remarkable results. Nearly 5000 hydrogen fuel cell vehicles will be popularized and applied in public transportation, ports, intercity logistics and other fields, and nearly 50 hydrogen filling stations will be planned and built.
[Wan Liyang plans to acquire 51% of Wanliyang Energy Company to expand energy storage business] on November 24, Wan Liyang announced that it intends to acquire 51% of Zhejiang Wanliyang Energy Technology Co., Ltd. It is understood that Wanliyang Energy Company is mainly engaged in the investment and operation of energy storage power stations, spot trading in the electricity market, power security testing and other businesses. the purpose of this acquisition is to develop energy storage power stations, spot trading in the electricity market, and other businesses. to further broaden the company's industrial layout.
[Ningde Times and Ates Sunshine Power signed a strategic cooperation agreement] on November 23, Ningde Times New Energy Technology Co., Ltd. and Ates Sunshine Power Group Co., Ltd. signed a strategic cooperation agreement in Ningde, Fujian Province. According to the agreement, the two sides will jointly lead by the goal of "double carbon" based on the principles of "equality and mutual benefit, resource sharing, complementary advantages and win-win development". Cooperation in energy storage system, lithium battery module supply, energy storage project operation and maintenance services, new energy technology and so on.
[Tesla's further price rise after five days is related to the decline of new energy subsidies] it is reported that Tesla's price increase may be related to the decline of the subsidy policy for new energy vehicles next year. Tesla said in a note on the order page of the official website that the current price marked on the official website is the price after subsidy, which is derived from the price before the subsidy deducting the estimated subsidy for new energy vehicles in 2022.
[Audi's German factory has been affected by a lack of cores to reduce production of A3, A4 and other models] according to foreign media reports, the number of cars produced by Audi's German plant has decreased as the semiconductor crisis continues to hinder the development of the automobile industry in the fourth quarter. Audi said Germany's Ingolstadt (Ingolstadt) and Nekasurm (Neckarsulm) plants were continuing to cut car production.
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