Notice of change in the venue of the Annual meeting of South China Nonferrous Metals Industry at SMM
Notice of change of the venue of the 2021 (6th) China stainless Steel-Metal charging Conference
Summary of SMM Steel Morning meeting: raw material side: generally speaking, the mentality of coking enterprises has improved, but the demand for coke from steel mills is still low, mainly by on-demand purchasing, and coking coal prices are still expected to fall, it is expected that the coke market will be stable and weak. Thread: overall, the output of building materials may remain low; the demand side is weakening, but the decline at the raw material side is slowing, steel mills are willing to raise prices strongly, and market resources are generally tight, and short-term spot prices are expected.
Steel companies make greater efforts to resume production, short-term mining prices are supported [minutes of SMM Steel Morning meeting]
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On the macro side, the November ADP employment data released by the United States overnight slightly exceeded expectations, giving the dollar a boost. The overnight dollar index fluctuated slightly in intraday trading, closing up 0.15%. In terms of US stocks, stimulated by the news that the first case of Omicron strain was found in the United States, the three major indexes of US stocks plummeted, eventually closing down more than 1%, of which the NASDAQ index closed down 1.83%. International crude oil just rose slightly from the panic and was pressed down again, closing down for the second day in a row, of which US oil closed at 65.71 US dollars per barrel, the lowest closing price since August 24 this year. Under the crackdown by the United States, the recent oil price is like a frightened bird, as long as there is news of a mutated virus, oil prices will be sold at any time.
The short-term market focus turned to a two-day meeting between OPEC and its allies to determine whether to release more crude oil or to curb production growth at a time of plunging crude prices and uncertain demand prospects.
In terms of today's macro data, we focus on the unemployment rate in the euro zone in October and the number of corporate layoffs in the United States Challenger in November.
Overnight metal ups and downs mixed, the internal and external market trend showed a certain differentiation, on the whole, the internal market trend is even weaker, only Shanghai tin slightly closed up 0.09%, the rest closed down.
SMM believes that the performance of supply and demand in Xi City and the spot market is relatively stable, while the participation of disk funds is relatively low, both of which work together on the trend to cause a higher probability of shock of tin prices.
In the outer disk, Lunzhihua led the two cities down by 1.12 per cent, while Lunchen copper accelerated its decline after the Codelco chief executive predicted that copper prices would fall 9 per cent next year, closing down 0.76 per cent, while Lunxi, Lunxian lead and Lun aluminum were more resilient and closed higher.
Both black and coal opened high and low at night, coking coal closed down 1%, thread growth narrowed to 0.57%, and iron ore closed down 0.72%.
Overnight metal ups and downs mixed, the internal and external market trend showed a certain differentiation, on the whole, the internal market trend is even weaker, only Shanghai tin slightly closed up 0.09%, the rest closed down. In terms of the outer disk, Lun Zinc led the two cities down by 1.12%, while Lun Copper accelerated its decline and closed down 0.76% in Europe and the United States, while Lunxi, Lun lead and Lun Aluminum were more resistant and closed higher.
Both black and coal opened high and low at night, coking coal closed down 1%, thread growth narrowed to 0.57%, and iron ore closed down 0.72%.
In precious metals, COMEX gold futures closed higher on Wednesday, partly recovering losses from the previous session. Gold prices have been boosted by a weak dollar, lower bond yields and uncertainty over the impact of the O'Micron mutant.
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U. S. stocks reversed their losses on Wednesday, with the Dow down about 1000 points from its intraday high. The Dow fell 461.68 points, or 1.34%, to 34022.04; the Nasdaq fell 283.64 points, or 1.83%, to 15254.05; and the S & P 500 fell 53.96 points, or 1.18%, to 4513.04.
[SMM monthly outlook: November copper prices rely on low inventories to support refineries to catch up in December, inventory inflection points or copper market is expected to be weak] entering December, with the arrival of the end of the year, copper consumption performance is relatively moderate, although global copper inventories are still low, but smelters plan to speed up production before the end of the year, and with the release of Dongying Fangyuan resumption capacity, domestic electrolytic copper production is expected to reach more than 850000 tons in December. The inflection point of domestic copper inventory may be coming. In addition, the rising water has fallen back to a relatively normal level, the support for copper prices has weakened, and under the interweaving of long and short factors, copper prices are expected to maintain a weak concussion operation in December. "View details
[SMM monthly outlook: November zinc price shock operation December these three points to pay special attention] looking forward to December, SMM lowered its previous zinc concentrate production forecast to around 537000 tons in December. The performance of the consumer side is not optimistic. In November, there was an environmental warning in all parts of the north, and some areas have begun to restrict natural gas, and these effects are expected to continue or even aggravate in December. At the same time, the market has different news about the production restrictions caused by the Winter Olympic Games in the first quarter of next year, which needs to be followed up. "View details
[SMM monthly outlook: November lead price V-shaped rebound December need to pay attention to this "risk point"] looking forward to December, the supply side, with the easing of the impact of power cuts and the end of equipment maintenance in some smelters, the supply of lead ingots has gradually resumed. However, the export of lead ingots is expected to remain high, and there is no pressure on the domestic lead ingots for the time being. In addition, December is in the heating season, the superposition of the follow-up Winter Olympic Games may bring production control to enterprises. SMM believes that in the short term, lead prices may continue to fluctuate strongly, but we need to pay attention to the mismatch between supply and demand brought about by the withdrawal of funds by upstream and downstream enterprises at the end of the year, or the possibility of lead prices falling. "View details
SMM analysis: what will molybdenum prices do in December when they stop falling at the end of November and rise in December? According to SMM statistics, at the end of November, due to the continuous improvement of market demand at the end of November, a small-scale shortage of molybdenum concentrate raw materials broke out in the bidding of steel mills at the end of the month, and the domestic molybdenum price stopped falling and surged higher. The turnover of the ferromolybdenum bulk market once rose from about 127000 yuan / tonnage in the middle to 139000 yuan / ton on the 30th. Market confidence has been greatly restored. Can the rising market continue in December? SMM believes that the domestic molybdenum market will continue to strengthen at the beginning of December and will gradually stabilize or even fall in the later period. At present, the domestic molybdenum market as a whole is still in a state that supply falls short of demand, and the market demand for ore raw materials is more urgent. The shortage of large mines in the early stage of centralized shipment and the epidemic situation in Manzhouli have led to delays in the delivery of China's gold long single molybdenum concentrate. Therefore, the initial price will continue to rise in December under the environment of supply shortage. But the overall increase is expected to be limited, on the one hand, because. "View details
[SMM analysis: weak terminal demand copper standard foil processing fees fell in resistance] according to SMM research, in November, the electronic circuit copper foil downstream consumer electronics orders weakened more obviously, due to the reduction in terminal demand, many electronic circuit copper foil factory slightly adjust processing fee prices, ordinary HDI products with copper foil (to 18 μ m as an example), a decline of about 1.5%, part of the head of enterprises currently schedule production is OK, adhere to the price. Although the industry as a whole has not seen a large-scale reduction in processing fees, but electronic circuit copper foil processing fees have released a turning signal. SMM thinks. "check the details.
[SMM analysis: interpretation of the impact of Indonesia's ban on bauxite exports] it is difficult for us to see a dramatic change in the domestic bauxite trade pattern in 2014 because of Indonesia's mining ban, but for some domestic alumina plants that already use Indonesian ore, production stability will inevitably be affected, and production costs will be increased for no reason as a result of technological transformation or the use of ores from other countries. On the whole, with the continuous consumption of domestic bauxite, the dependence of imported ore will continue to increase, actively improve the production process to reduce ore consumption, strengthen domestic ore exploration, improve the desulphurization technology of domestic aluminum under coal, and seek more imported ore substitutes. it has become the mainstream tone of the development process of domestic alumina in the future. "View details
[SMM analysis: the increase of Guangdong zinc ingot arrival in November is relatively limited] in terms of storage, with the end of power restriction and production restriction of smelters in Guangxi, the output of smelters is in a state of restorative growth, and some large plants have been in full operation, in addition, due to the delivery of long orders. "View details
[SMM Hangzhou thread weekly inventory: the shortage of resources has not alleviated the decline in inventory continues to narrow] the spot price of Hangzhou thread has rebounded this week. As of December 1, Hangzhou Shagang spot quotation 4740, down 30-50 yuan / ton compared to the previous high, terminal rigid demand procurement, slightly reduced trading volume. Although inventories are still in a state of decline, the decline in inventories has narrowed significantly. As of December 1st, the social inventory of building materials in Hangzhou was 306000 tons, down 12000 tons from last week, or 3.77 percent lower than the previous week. It decreased by 40,000 tons over the same period last year, down 11.56 percent from the same period last year. "View details
[SMM comment: Ningxia Hui Autonomous region issues energy consumption dual-control industrial structure adjustment silicon-manganese market may have little impact] recently, with the approval of the people's government of the autonomous region, the Autonomous region Development and Reform Commission and the Department of Industry and Information Technology jointly issued the Ningxia Hui Autonomous region dual-control Energy consumption Industrial structure Adjustment guidance Catalog (for trial implementation) (hereinafter referred to as the "catalogue"). It aims to raise the standards of prohibition, restriction and elimination of industries with high energy consumption and high emissions, improve the level of energy utilization, speed up the withdrawal of high-consumption and low-efficiency production capacity, curb the blind development of the "two high" projects, and play an important role in promoting the transformation and upgrading of the industrial structure. This is a concrete implementation measure for the Ningxia Hui Autonomous region double Control of Energy consumption three-year Action Plan issued by the General Office of the Party Committee and the Government of the Autonomous region. "check the details.
[announcement on Manganese Silicon Market-making contracts and key contracts in December 2021] in order to further promote the continuous activity of contracts in recent months and improve the quality of futures market services to the real economy, market-making contracts and key contracts of various futures varieties in December 2021 are hereby announced. "check the details.
[SMM indium market tracking report: Shaanxi Zinc Industry Co., Ltd. successfully conducted a private indium ingot auction] according to information learned by SMM, last week Shaanxi Zinc Industry Co., Ltd. conducted a private indium ingot auction sale of 21 tons of indium ingots belonging to Shaanxi Zinc Industry Company, of which 19 tons are refined indium, with a floor price of 1630 yuan / kg; and 2 tons of crude indium, with a floor price of 1480 yuan / kg. The bidder shall quote a price increase of 5 yuan / kg on the basis of the lower limit price, and the price lower than the lower limit price shall be regarded as invalid. People familiar with the market said that last week all the indium ingots were successfully taken away by a company based in Anhui. At present, the official has not announced the final transaction price, but according to people familiar with the matter, the final transaction price of refined indium is around 1645 yuan / kg, while the price of crude indium is still unknown. "View details
[Chilean mining royalty bill vote: 18 for 16 against] the Chilean Senate advanced the debate on a controversial bill on Tuesday. The bill, which aims to increase royalties for mining companies operating in the world's largest copper producers, is supported by opposition lawmakers. The Senate voted 18 to 16 to continue to amend the bill, which was passed by the House of Commons in May.
[Longdian Huaxin will increase its copper foil production capacity by 75000 tons this year and will expand another 20, 000 tons of lithium copper foil.] on November 26, the signing ceremony of Shandong Hesheng Copper Co., Ltd. second phase 5000 ton project and third phase high performance lithium electric copper foil was held in Dongying, Shandong Province. Hesheng Copper is a wholly owned subsidiary of Shenzhen Longdian Huaxin Group, with a total investment of 3.5 billion yuan, mainly producing copper foil for high-performance lithium batteries. It is one of the core production bases of Longdian Huaxin Group in East China.
[the EU intends to ban the export of scrap to recycled aluminum raw materials with little impact] according to foreign media reports, the EU intends to ban the export of scrap to third-party countries that are not (OECD) of the OECD, and only if the third country can manage these scrap metals sustainably will the EU allow the export of scrap metal to third countries. Due to China's explicit ban on the import of solid waste, which is inconsistent with EU waste management standards, the two sides have not reached a license, which affects the direct export of EU scrap metal to China. According to customs data, the EU countries (except the UK) in which China imported more than 1 per cent of recycled aluminum raw materials from January to October 2021 were Belgium, Spain, France and Germany, with a total of 56600 tons, accounting for 7.79 per cent of total imports. it has little impact on China, which may lead to a slight increase in the price of overseas waste aluminum.
[Zhongwei shares: signed a strategic cooperation framework agreement with Dangsheng Technology to build projects such as lithium iron phosphate of no less than 300000 tons / year] Zhongwei shares announced that it signed a "Strategic Cooperation Framework Agreement" with Dangsheng Science and Technology to jointly carry out the comprehensive development and utilization of nickel laterite in Indonesia, and the first phase is to cooperate to build a production line with an annual output of 60, 000 gold tons of nickel products. To invest in total production capacity planning and construction of no less than 300000 tons / year iron phosphate and lithium iron phosphate and related phosphorus resources development and phosphorus chemical supporting projects in Guizhou; at the same time, establish long-term supply and marketing relationships for products such as high-nickel NCM precursors, high-nickel NCA precursors, cobalt tetroxide and lithium-rich manganese base precursors for power batteries, and the product supply and demand will reach 20-300000 tons in the next three years.
[Yahua Group: the company will actively look for lithium salt resources through various channels, including but not limited to lithium mines and salt lakes and other resources projects] Yahhua Group said on the investor interactive platform on November 30 that the company will actively look for lithium salt resources through a variety of channels, including but not limited to lithium mines and salt lakes and other resource projects. Lijiagou, Trigg Hill and DSO projects invested by the company have not been supplied for the time being.
[the competition for overseas lithium mining assets has become increasingly fierce and another domestic company has bid at sea] recently, another domestic lithium giant has joined the competition for international lithium mining assets. 002240.SZ has applied for the right to exploit two lithium mines in Ukraine, a move that could give it a foothold in the European lithium industry, according to the Ukrainian government website. The acquisition highlights Shengxin LiNeng's ambitious overseas expansion plans. In September, Shengxin LiNeng said it would build a lithium plant in Indonesia and is investing in mining projects in Argentina and Zimbabwe.
Two cooperation agreements were announced in one day. Lithium cathode material leader joined forces with Huayou Cobalt Industry and Zhongwei Co., Ltd. On November 30th, Zhongwei announced that the company signed a strategic cooperation framework agreement with Dangsheng Technology to build projects such as no less than 300000 tons / year lithium iron phosphate. On the same day, Huayou Cobalt announced that the company signed a strategic cooperation agreement with Dangsheng Technology on nickel and cobalt metal resources and the supply of precursors. Dangsheng Technology plans to purchase 30-350000 tons of ternary precursors from the company from 2022 to 2025.
[Longji wafer price drop of nearly 10% industry: overcapacity appears in the second half of next year may be the current price war] on November 30, Longji wafer price suffered the biggest decline of the year, according to the latest quotation on Longji's official website, 182mm wafer fell by 9.8% to 6.2 yuan per wafer. A number of business people said that next year's silicon wafer price reduction will be inevitable, "this round of silicon wafer price reduction will continue, if the supply in the second half of next year is too large, a price war will occur, when the silicon wafer price drop will be relatively large."
[coal transmission from west to east ensures the continuous high operation of power coal transport volume of Daqin railway] Daqin railway is an important channel for coal transmission from west to east in China. Since November, the thermal coal transport volume of Daqin Railway has been running at a high level. Zhang Qi, duty director of the dispatching office of China Railway Taiyuan Bureau Group Co., Ltd., said that the Daqin line completed an average of 1.27 million tons per day in November, of which it remained above 1.3 million tons in 24 days. By increasing the coal supply of the Daqin line, the coal storage in the three ports of Qinhuangdao, Tangshan and Caofeidian reached 21.4 million tons, an increase of 5 million tons compared with the previous month.
Terminal information
[grid Core Q3 earnings data predict that demand for Q4 chips will continue to soar] on Tuesday, the world's fourth largest wafer foundry, Lattice Core, released its first results since its listing in October. According to the financial report, GE Core achieved revenue of US $1.7 billion in the third quarter, up 5% from the previous month and 56% from the same period last year; net profit was US $5 million, turning losses into profits compared with the same period last year; and gross profit margin reached a new high of 18%. The overall performance of the core financial report exceeded market expectations.
[Renault: chip shortage will last until mid-2022] according to foreign media reports, Renault expects the semiconductor supply problem to last at least until mid-2022, which will complicate the company's plan to turn losses into profits. Luca de Meo, chief executive of Renault, said that as consumer demand remained strong, the company was giving priority to the production of more profitable cars and commercial vehicles. "Renault sometimes even sends people to Asia to get chips,", De Meo said in an interview at the Flynn (Flins) factory in Paris, France.
[Ningde Times subsidiary added IC chip design, etc.] data show that recently, Ningde Times Runzhi Software Technology Co., Ltd. has undergone industrial and commercial changes, with new integrated circuit chip design and services; integrated circuit chip and product sales; power electronic components manufacturing, sales, and so on. Ningde Times Runzhi Software Technology Co., Ltd. was established in October 2021 with a registered capital of 3.2 billion yuan. Shareholder information shows that the company is wholly owned by Ningde Times New Energy Technology Co., Ltd.
According to the data previously released by AutoForecast Solutions, the global auto market cut production by about 800000 units in October because the supply of chips still could not meet the production needs. Coupled with the lack of expected demand in the automobile market and other factors, October sales in all the world's major auto markets showed a downward trend compared with the same period last year, and the global auto market is still running at a low level, which also frustrated the industry's expectations for the "Silver Ten". In addition, it is worth noting that the market segment of new energy vehicles, which has been advancing by leaps and bounds, has not been able to maintain high growth.
[Samsung Electronics launches three new car chips] on November 30, Samsung Electronics unveiled three new advanced automotive chips, one of which is installed on Volkswagen's infotainment system. Samsung said it plans to actively respond to the growing demand for automotive chips.
[Japanese car production rose for the first time in four months] as the impact of parts shortages in Asia is weakening, Japanese car production rose 15 per cent in October from a month earlier, the first increase in four months. Automakers, including Toyota and Honda, have announced plans to resume normal production in December.
(auto executives expect electric vehicles to account for more than half of new car sales in China and the United States in 2030.) according to a new survey by accounting and consulting firm KPMG, auto industry executives expect that by 2030, electric vehicle sales in the United States, China and Japan will account for 52% of total car sales, with a lower proportion in Western Europe, Brazil and India. But a survey of 1000 auto industry executives shows that fuel vehicles, including hybrids, will continue to account for a large share of most major car markets in the coming years. Seventy-seven per cent of respondents to the survey said that with battery costs falling to the same level as petroleum-fueled engines, electric vehicles could become popular on a large scale within a decade without government support.
[Ottaway wins bid for Honeycomb Energy Project about 130 million large orders for new energy in the second half of the year have reached 670 million] on the evening of November 30, Ottaway (688516) issued an announcement that Wuxi Aotwi Intelligent equipment Co., Ltd. (hereinafter referred to as "intelligent equipment"), the company's wholly-owned subsidiary, has obtained the bid winning notice for the project "production Line of Honeycomb Energy Technology (Yancheng) Co., Ltd."
[new Zhou Bang plans to invest 1.984 billion in lithium battery and semiconductor business electrolyte prices are still optimistic after soaring] New Zeus announcement, the company intends to take Zhuhai New Zeus as the main body of the project implementation, invest in the construction of Zhuhai New Zebang Electronic Chemicals Project, the total investment of the project is about 1.2 billion yuan, the first phase of the construction period of 28 months, is expected to gradually put into production in the first half of 2024. At present, the company's South China base can no longer meet the future market demand, so it will build a second base in the Great Bay area. Since 2021, with the rapid development of the new energy vehicle market, the electrolyte, as one of the raw materials of power battery, has once triggered a scramble by many enterprises, and its price has gone up. SMM expects electrolyte prices to continue to rise in the future.
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