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"SMM South China Annual meeting | an in-depth Analysis of the Global economy, Copper, Aluminum and Zinc fundamentals and Price trend in 2022
SMM Tin Morning News: fundamentals, the relationship between supply and demand to maintain a balance, spot transaction prices stable Shengshui little change. On the market trend, the Shanghai tin 2201 contract maintained horizontal trading, the volatility slightly expanded, but the volatility is still lack of bright spots. Funds continue to leave the market slightly, the market position confidence is insufficient. To sum up, at this stage, both supply and demand continue to be weak, the heat of capital decreases, and the price trend remains high and has a high probability of concussion.
"the market heat is on the low side and the trend remains sideways [SMM Tin Morning News]
"Click to view the price of SMM tin products
SMM Steel Morning meeting minutes: yesterday even iron weak shock, the main contract 2205 closing price of 642.5, down 3.17% throughout the day. The price offered by the spot traders of the port is stable. Although the profits of steel mills have recovered recently, most steel mills are less likely to resume production due to problems such as double control of energy consumption, weakening demand, sales pressure and so on. Generally speaking, there is little change in East and South China, and the short-term operating rate in the northern region may rise, giving certain support to mineral prices, which continue to fluctuate.
"demand-to-weak thread inventory decline narrowed month-on-month [minutes of SMM Steel Morning meeting]
"Click to view the price of SMM steel products
The dollar climbed on Thursday, up 0.32% to 96.21. Tighter restrictions in some areas to curb the spread of the Omicron variant have dampened investor enthusiasm for riskier currencies. Investors are still waiting for inflation data to be released on Friday. In terms of crude oil, oil prices closed lower on Thursday, crude oil in the two cities changed from rising to falling, and both fell. Concerns about the outlook for demand have resurfaced.
In terms of today's macro data, we focus on the annual CPI rate in November in the United States, the initial consumer confidence index at the University of Michigan in December, CPI annual rate in November in Germany, and GDP in October in the United Kingdom.
In the metal market:
The US dollar is higher, the metal market is under pressure, the outer plate metal is mostly green, and only Lunzn Zinc and Lunxi are slightly red. Lun copper fell 1.13% on Thursday, ending the previous three consecutive gains, with the largest decline of 1.67% in the outer pan, while Lun aluminum and Lun lead fell slightly. Lun Zinc rose 0.18% and Lunxi rose 0.47%.
The trend of metal in the inner plate was similar to that of the outer plate. Shanghai zinc and tin closed up slightly, with Shanghai zinc up 0.26% and Shanghai tin up 0.03%. After yesterday's high opening in the sky, Shanghai lead pulled back slightly in the night market and finally stabilized at 15440 yuan / ton. Shanghai Nickel was the first to bear the brunt of a 1.36% decline.
The night plate is black and green. Stainless steel has finally taken a turn for the better after falling for four days in a row, and when the rest of the black products fell, it closed up 0.25% against the trend. Iron ore fell 0.23%, led by a 1.38% drop in hot coil. Double coke night market both fell, coking coal fell more than 1.5%, coke fell 0.43%.
In precious metals, COMEX gold futures fell on Thursday, dragged down by a stronger dollar and a sharp drop in initial jobless claims in the United States.
"[overnight market] the metal market is mostly green, Shanghai nickel is down more than 1.3%, and oil prices are both down in both markets.
"Click to view the price of SMM copper products.
"Click to view the price of SMM aluminum products
"Click to view the price of SMM lead products
"Click to view the price of SMM zinc products
"Click to view the price of SMM nickel products
U. S. stocks closed lower on Thursday as investors waited for CPI inflation data to be released on Friday and continued to focus on the impact of the mutant strain and Fed policy. The Dow fell 0.06 points to 35754.69, the Nasdaq fell 269.62 points, or 1.71%, to 15517.37, and the S & P 500 fell 33.76 points, or 0.72%, to 4667.45.
[national Aluminum Bar inventory Weekly Review: aluminum rod inventory increased by 13800 tons to 85500 tons compared with last Thursday] the latest aluminum bar inventory data from SMM statistics show that aluminum rod inventory has increased by 13800 tons to 85500 tons compared with last Thursday, an increase of 19.28%. Aluminum bars began to accumulate. This week, Nanchang alone went to the warehouse, a decrease of 2900 tons, or 21.82%, compared with last Thursday. The other four places all showed tired storage, among which Foshan contributed the main increase, with inventories increasing by 8500 tons, or 35.42%, compared with last week. "check the details.
[SMM aluminum downstream weekly survey: alloy driven aluminum downstream operating rate strengthen some plates still need to guard against the impact of environmental protection] this week, the operating rate of processing enterprises downstream of aluminum leading increased slightly again, with the average operating rate rising 0.9 percentage points to 67.6%. From a product point of view, the operating rate of leading enterprises of aluminum strip, aluminum foil and aluminum profiles remained stable this week. The increase in the contribution of primary and recycled alloys is mainly due to the stable trend of aluminum prices in recent days. "check the details
[SMM data: weekly reduction of domestic electrolytic aluminum inventory by 50, 000 tons to 952000 tons] on December 9, SMM counted domestic electrolytic aluminum social inventory of 952000 tons, with a weekly reduction of 50, 000 tons. Wuxi, Nanhai, Shanghai and other major consumer areas contributed mainly to the warehouse, while Gongyi also went to the warehouse. "check the details.
[SMM concern: the first high nickel matte production line in Qingshan Park, Indonesia was officially put into production] 08:08 on December 8, the fiery red low nickel hot metal was steadily added to the No.1 converter of the department of matte with the instructions of the leader. After more than 7 hours of blowing, qualified hot metal with high matte was produced at 15:38, which began the journey for the formal production of high nickel matte in the Castle Peak Industrial Park in Indonesia. "check the details.
[SMM Analysis: Fusan Co., Ltd. joined hands with Beitre to build a 100000-ton production line project to accelerate the process of negative enterprise integration] Fusan Holdings Co., Ltd. (hereinafter referred to as "Fusan Holdings") and Beit Rui New Materials Group Co., Ltd. (835185) (hereinafter referred to as "Beitre") signed a "cooperation agreement for a production line with an annual output of 100000 tons of lithium battery anode material precursors and finished products". And set up a joint venture Sichuan Rui Anxin material Technology Co., Ltd. "View details
"Click to view the price of SMM new energy products
[Foshan stainless Steel Daily Review: stainless steel market is bleak and spot futures are both weak] on December 8, the prices of stainless steel series in Foshan market fell slightly again, although major steel mills released the news of overhaul or production reduction one after another in the first half of this week. But still did not play any brake on the fall in market prices, in fact, the fall in the stainless steel market is expected. "check the details.
[SMM Daily Review: ferrochromium offer temporarily stable transaction pressure] on December 9, Inner Mongolia high-carbon ferrochromium quoted 9100-9300 yuan / 50 base tons, unchanged from the previous trading day. Although the quotations of the ironworks are still concentrated around 9100 yuan / 50 base tons, the supply of goods in the market has increased and traders' enthusiasm for taking goods has decreased. "check the details
[SMM data: stainless steel plant opening and overhaul output decreased by nearly 300000 tons near the end of the year] according to SMM research, national stainless steel production totaled about 2.6278 million tons in November, an increase of 323000 tons over October, an increase of about 14% month-on-month, and a decrease of 10.2% over the same period last year. The cumulative total output of stainless steel from January to November in 2021 is about 29.715 million tons, an increase of 10.23% over the same period last year. "View details
[SMM hot coil inventory: supply slightly rebounded this week hot coil inventory from decline to increase] SMM Steel: this week's total hot-rolled coil inventory of 3.1701 million tons, compared with last week + 3800 tons, month-on-month + 0.12%, year-on-year + 6.53%. This week, hot volume total inventory, social inventory have accumulated slightly, while in-factory inventory continues to decline. "View details
[SMM Hot Rolling scheduling report: hot Rolling schedule stops decreasing and exports increase opens up Channel] SMM Steel: according to the latest tracking of SMM, the planned hot rolled commodity volume of 35 mainstream hot rolled steel mills surveyed in December totaled 9.337 million tons, an increase of 366300 tons compared with the actual hot rolled commodity output in November, and an increase of 4% over the previous month. Look at domestic and foreign trade. "View details
[SMM Coke spot Daily Review: Coke inventory has dropped obviously some coking enterprises have bullish mentality] SMM December 9, coke market demand increased, coking enterprise shipments gradually improved, relatively optimistic about the late market, it is expected that the coke market will be temporarily stable in the short term. "check the details.
[SMM Electrolytic Manganese Weekly Review: downstream orders inactive Manganese Price bullish pressure] the average spot price of electrolytic manganese in Guangxi and the main producing areas of the manganese triangle this week is around 39500-40500 yuan / ton compared with last Friday, and the high turnover during the week is still not smooth; in addition, as of Friday, FOB quotation is weak and stable around US $6350 / ton, exporters are not willing to deal at a low price, and the supply and demand stalemate is obvious. "check the details.
[SMM Daily Review: manganese ore turnover is still weak] on December 9, northern ports: Australian mine 44-45 yuan / tonnage, South African hemicarbonate mine 34-35 yuan / tonnage, Gabon mine 41-42 yuan / tonnage, Brazilian mine 42-43 yuan / tonnage, South African ferromanganese mine 34-35 yuan / tonnage; Southern ports: 46-47 yuan / tonnage for Australian mine, 37-39 yuan / tonnage for South African hemicarbonate mine, 43-44 yuan / tonnage for Gabon mine and 43-44 yuan / tonnage for Brazilian mine. "check the details.
[SMM Daily Review: market sentiment complex Si-mn activity is still not strong] on December 9, the northern market Si-mn 6517 (cash) 7800-8050 yuan / ton, down 150 yuan / ton compared with the previous day; the southern market Si-mn 6517 (cash) 7900-8350 yuan / ton, down 250 yuan / ton compared with the previous day. In the spot market, with the setting of the steel price, the market sentiment is complex, and some manufacturers choose to passively accept the steel price. "View details
[SMM Daily Review: weak downstream demand Manganese prices maintain Stability] December 9, manganese market supply and demand trading atmosphere is not strong, the market continued to be weak in the second half of the week, with the exception of steel enterprises, other terminal procurement demand did not release at the end of the year, the other part of the inventory. "check the details.
[SMM Daily Review: the heat of inquiry in the silicon market increased] on December 9, the price of metal silicon showed a divergent trend. The price of 55 silicon with no oxygen in Huangpu Port was 19200-19400 yuan / ton, up 500 yuan / ton from yesterday, and 44 silicon was at 21800-22300 yuan / ton, down 750 yuan / ton from yesterday. "the price gap between different specifications of metal silicon continues to narrow." check the details.
[SMM magnesium ingot spot KuaiBao: magnesium market stable operation] SMM December 9: the mainstream quotation of 90 magnesium ingots in Fugu area today is 39500 yuan / ton-40000 yuan / ton, which is the same as yesterday. Today, the overall market is stable, and the quotation in Fugu area is relatively stable. At present, the price of magnesium has been flat for nearly two days, and the market is back to a stalemate. On the supply side, some factory salespeople said magnesium factory inventory is still recovering, and even if prices fall under reduced transaction pressure, the decline will still be limited. "check the details.
[SMM molybdenum spot KuaiBao: production enterprises quote firm domestic molybdenum prices continue to rise] December 9, the domestic molybdenum concentrate mainstream transaction price of 2190-2220 yuan / tonnage, up 20 yuan / tonnage compared with yesterday's price; 60% ferromolybdenum mainstream transaction price of 14.9-153000 yuan / ton, up 1000 yuan / ton compared with yesterday's price. Under the condition of good demand and tight supply, the molybdenum market has continued to rise for many days. "check the details
[SMM comment: horizontal integration in the south and vertical promotion of rare earths in the north accelerate the process of rare earths in the south, heavy in the south and light in the north] it is reported that the China rare rare Earths Group, jointly formed by China Minmetals Corporation, Aluminum Corporation of China, and Ganzhou rare Earth Group, will be listed by the end of this month at the latest. From then on. "View details
[SMM Daily Review: there is a game between praseodymium and neodymium in the upstream and downstream market is temporarily stable] towards the end of the year, the contradiction between supply and demand between upstream and downstream is obvious, the signing of long orders by downstream motor enterprises is good, and the demand is in short supply in all production links from raw ore separation to magnetic material manufacturing in the upstream. In addition, the upstream separated enterprises. "View details
"Click to view the price of SMM rare earth products.
[the people's Bank of China raises the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points] in order to strengthen the management of foreign exchange liquidity of financial institutions, the people's Bank of China has decided to raise the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points with effect from December 15, 2021, that is, the foreign exchange deposit reserve ratio of financial institutions will be raised from the current 7% to 9%. "View details
Peruvian government officials failed to reach an agreement on Tuesday to lift the blockade of key distribution channels used by MMG Ltd's Las Bambas copper mine, according to minutes of the meeting. The dirt road from the mine to the seaport has been blocked for 18 days by residents of Chumbivilcas province, who are negotiating a contract to hire locals as mine drivers. "View details
[mining companies are concerned about the Ecuadorian court's ruling] the Ecuadorian Mining Association said on Wednesday that Ecuador's mining industry is threatened by legal uncertainty. the reason is that the country's Supreme Court decided to revoke an environmental permit for a project in a protected forest. Ecuador's Amazon region has two main gold and copper mines operating, while other projects have been halted due to community opposition. "View details
[Guangxi Baise City issued the "implementation Plan for promoting the High-quality Development of the New Ecological Aluminum Industry in Baise City" to build a New Ecological Aluminum Industry system] on December 8, the city of Baise in Guangxi issued the "implementation Plan for promoting the High-quality Development of the New Ecological Aluminum Industry in Baise City." the plan points out that it is necessary to develop and strengthen traditional advantageous industries and promote the optimization and upgrading of the whole industry chain. Form a new ecological aluminum industry system with circular, intelligent, efficient and low-carbon development. By 2030, the total output value of the aluminum industry will reach 200 billion yuan. "View details
[SMM South China Annual meeting: SMM Analysis: how to achieve carbon Neutralization path for Nonferrous Industry under double carbon] in 2021, the state has issued many policies on double control of energy consumption, carbon emission reduction, pollution prevention and so on. It is pointed out in the 14th five-year Plan that energy consumption and carbon emissions per unit of GDP will be reduced by 13.% and 18% respectively compared with 2020 in 2025. "View details
[Legacy Minerals's acquisition of NSW adds nickel and tin to its portfolio] on December 9th, according to foreign media reports, Sydney-based Legacy Minerals (ASX: LGM) has won a sixth project in New South Wales, known as the emerging tin-copper and nickel mine, after being awarded a mining right of 194sq km. "View details
[following Renault and Stellantis Volkswagen also signed a lithium supply agreement with Australian lithium company Vulcan] according to foreign media reports, Australian lithium supplier Vulcan Energy Resources recently launched an environmentally friendly lithium hydroxide for electric vehicle batteries. Vulcan said in a statement on December 8th that it had reached a binding five-year lithium supply agreement with Volkswagen to deliver lithium hydroxide to Volkswagen from 2026, but the company did not provide further details of the contract. "View details
[Zhongwei intends to invest 10 billion yuan to build an integration project of 200000 tons of iron phosphate and lithium iron phosphate production line per year] Zhongwei issued a notice saying that it had examined and approved the "motion on signing an investment agreement with the people's government of Kaiyang county." the total investment of the project is about 10 billion yuan, and it is proposed to build an integrated project with an annual production line of 200000 tons of iron phosphate and lithium iron phosphate. At the same time, supporting the construction of phosphate rock to produce phosphoric acid or yellow phosphorus and monoammonium phosphate within the scope of the chemical park, and supporting mining areas and phosphate rock mining to meet the demand of 200000 tons of lithium iron phosphate products. "View details
[Longbai Group and Bic Battery signed a strategic agreement to deeply bind and develop in areas such as industrial coordination] Longbai Group issued an announcement that the company signed a "Strategic Cooperation Framework Agreement" with Bic Battery. Driven by "technological innovation", the two sides explore new models of scientific research cooperation and jointly build a research and development platform for the exchange of resources. Led by "industrial coupling", tap the interactive potential of the industrial chain and create a closed-loop ecosystem. Take "industrial coordination" as the starting point, establish a new mechanism for the exchange of visits, and so on. Longbai Group said that this agreement is a cooperation framework agreement, and the follow-up company will recognize revenue in the relevant years according to the orders placed by Bic battery. the implementation of the agreement is expected to have a positive impact on the company's future annual operating results, in line with the company's long-term development strategy and the interests of all shareholders.
[Bureau of Statistics: prices of non-ferrous materials remained unchanged in November 2021. Prices of ferrous materials fell 2.3%] in November 2021, among the purchase prices of industrial producers, the prices of fuel power rose by 3.5%, and the prices of chemical raw materials rose by 1.9%. The prices of non-ferrous materials and wires are unchanged, and the prices of ferrous materials are down 2.3%. "View details
[statistics Bureau: the price of coal mining and washing industry in November rose from 20.1% to 4.9% from the previous month.] data from the National Bureau of Statistics show that in November, PPI rose 2.5% from the previous month to flat from the previous month. Of this total, the price of the means of production increased from 3.3% to 0.1%, while the price of the means of subsistence rose 0.4%, an increase of 0.3 percentage points. Multi-sector linkage to curb the irrational rise in coal prices, coal production and market supply continued to increase, coal mining and washing prices rose from 20.1% to 4.9%, and coal processing prices changed from 12.8% to 8.4%. The effect of ensuring supply and stabilizing prices in the metal industry appeared. The prices of the ferrous metal smelting and Calendering processing industry changed from 3.5% to 4.8%, and the prices of the non-ferrous metal smelting and Calendering industry decreased from 3.6% to 1.2%.
Jiangsu Yinjia stainless Steel Pipe Co., Ltd. has a new production project in Zhaoxia Road South and Jinding Road West Block, Nantong High-tech Industrial Development Zone, Jiangsu Province.
[Golden wheel shares: sufficient orders for stainless steel decorative panels] Jinlun shares said that stainless steel decorative panels used in elevators account for a relatively large proportion of the company's stainless steel decorative board products, and will grow steadily in the future with the trend of high-end elevators; stainless steel decorative panels for household appliances will grow faster than those used in elevators in the future.
[Jilin Province's electricity consumption for smelting ferrous and non-ferrous metals declined from January to October] A few days ago, the Jilin Provincial Bureau of Statistics released data showing that from January to October, Jilin Province's industrial electricity consumption was 38.22 billion kilowatt-hours, an increase of 2.4 percent over the same period last year. The electricity consumption of the ferrous metal smelting and Calendering industry decreased by 4.6% compared with the same period last year, and the electricity consumption of the non-ferrous metal smelting and Calendering industry decreased by 5.6% compared with the same period last year. "View details
[growth of most energy products such as crude coal and crude oil in Xinjiang from January to September] recently, the Bureau of Statistics of Xinjiang Uygur Autonomous region released the region's energy production and consumption in the first three quarters of 2021, showing that from January to September, most energy products in Xinjiang have achieved growth. Among the 57 kinds of energy product output, the output of 45 kinds of products increased year on year, with an increase of 78.9%, an increase of 1.7 percentage points over January-August and 3.5 percentage points over the first half of the year.
[Luoyang Molybdenum Industry: the production scale of obtaining the mining license of Sandaozhuang Molybdenum Mine is 9.9 million tons / year] on December 8, Luoyang Molybdenum Industry announced in the evening that the company recently obtained the mining license of Sandaozhuang Molybdenum Mine issued by the Ministry of Natural Resources, with a production scale of 9.9 million tons / year. The term of validity is from June 1, 2021 to June 1, 2023.
Terminal information
[the global chip shortage has not improved and the waiting time has reached an all-time high] the delivery time of the chip has been extended again, and the shortage of this key product has dashed the hopes of many industries again. According to the latest research by Susquehanna Financial Group, the delivery time of chips in November (from order to delivery) increased by four days from 21.9 weeks in October to about 22.3 weeks, the longest waiting time in the history of the data. "View details
[Jibang Consulting: it is estimated that the scale of China's waste power battery recycling market will reach 26 billion in 2025] according to the research of TrendForce Jibang Consulting, with the rapid development of China's new energy vehicle industry, the amount of power battery retirement is increasing year by year. China's power battery scrap is expected to exceed 18GWH in 2021 and reach 91GWh by 2025. At present, the recycling of power batteries is mainly divided into echelon utilization and recycling, in which the recycling of waste batteries has a certain scale, and the market scale has reached 2.4 billion yuan in 2020. It is estimated that the market size of waste power batteries in China will reach 26 billion yuan in 2025.
[Topang Co., Ltd.: planned 5 billion Lithium Battery expansion bid again Lithium Iron Phosphate Battery for Communication backup] Topang Co., Ltd. plans to set up a new company in Nantong City to invest in the construction of lithium battery projects with its own funds or self-raised funds, and to purchase the original Hanhua new energy plant that has completed infrastructure construction, which will be used to build square aluminum shell cells, soft package cells, large cylindrical cells and battery PACK production lines. The total investment of the project is 5 billion yuan, and the total design capacity is 6G who battery pack 4GWh.
New energy vehicle sales hit a new high! Judging from the monthly record of new energy vehicles, BYD's monthly sales in November set a new record for China's new energy passenger cars, followed by SAIC. GAC GROUP, Great Wall Automobile, Geely Automobile and Jianghuai Automobile sales are quite …. In terms of new car-building forces, Xiaopeng topped the list for two months in a row, Wei Lai returned to his handsome position, and his monthly sales continued to exceed 10,000. "View details
[Volkswagen executives: "lack of core" or car companies are still expected to maintain high profit margins until the third quarter of next year.] the head of Volkswagen's US business in Germany recently predicted that the global chip shortage will last until the third quarter of next year, but he believes that even if the supply of semiconductors returns to normal, the auto industry will maintain discipline in car pricing to ensure that corporate profits continue to grow strongly. "View details
[passenger car market sales fell 12.5% year-on-year in November: December market can still look forward to] on December 8, the passenger car federation released data showing that retail sales in the broad passenger car market in November were 1.845 million, down 12.5% from a year earlier and an increase of 6.2% from the previous month. "the darkest moment of automotive chip supply in the third quarter has passed. It was expected that the improvement in chip supply would lead to a return to the November level of last year, with a real month-on-month increase of about 14 per cent, but it has not yet returned to last year's level, and the bottleneck of supply opacity is still there. "View details
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