[SMM Metal Morning reference] Metal General decline | Review of Metal Import and Export tariff Adjustment | Analysis of the impact of Ningbo Hot Roll Trade

SMM survey: what kind of metal do you like most in 2022?

SMM steel morning meeting summary: yesterday even iron continued to be weak and narrow range shock, the main contract 2205 closing price 649, down 2.04% throughout the day. The price offered by spot traders at the port is more stable than that of yesterday. Part of the merchants shipping enthusiasm is general; steel mills experienced two days before the replenishment, mainly wait-and-see yesterday, procurement enthusiasm is not high. Yesterday's macro real estate data performance is better, period spiral strong pull, spot transaction.

Liantie continues to be weak and strongly pulls up during the narrow-band shock period [minutes of SMM Steel Morning meeting]

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According to China's Shanghai Insurance data in November, sales of new energy vehicles were 364500, up 25.3 percent from the previous month, a new high for the year. This week is approaching the Christmas holiday, overseas electrolytic cobalt enquiries and transactions are less, the domestic electrolytic cobalt market, driven by the price difference and demand at home and abroad, has climbed to an all-time high, with the transaction price approaching 500000. Lithium carbonate prices rose sharply this week, approaching the New year, the enterprise stock mood is strong, lithium iron phosphate plate due to the climbing of new production capacity, a sharp rise in demand for raw materials, a significant increase in recent purchases.

The price of 360000 lithium carbonates sold by new energy vehicles rose sharply in November [minutes of SMM Cobalt Lithium Morning meeting]

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Macro aspect:

The Fed released its monetary policy statement on Wednesday after a two-day (FOMC) meeting of the Federal Open Market Committee. The Fed left its benchmark interest rate unchanged at 0 per cent, 0.25 per cent, in line with market expectations. According to the bitmap of the interest rate hike path of Fed officials, officials expect the Fed to raise interest rates three times in 2022 and three times in 2023. The FOMC statement announced that it would reduce its asset purchases by $30 billion a month, in line with market expectations.

On the dollar side, after the announcement of the Federal Reserve interest rate decision, the dollar rose to a recent three-week high, but the Fed chairman's speech boosted risk sentiment, and the dollar changed from rising to falling.

In terms of crude oil, US crude oil futures closed higher on Wednesday after the Federal Reserve announced that it would accelerate its bond purchases and hinted that it would raise interest rates three times next year. Crude oil futures initially fell on Wednesday morning. Although data show that US crude oil supplies fell more sharply than expected last week, the market is more worried that the Omicron mutant will slow energy demand.

In terms of today's macro data, we focus on some important data, such as the target ceiling of the federal funds rate in December in the United States, the initial value of Markit manufacturing PMI in Germany in December, the initial Markit manufacturing PMI in euro zone in December, the trade account after quarterly adjustment in euro zone in October, the European Central Bank's main refinancing rate in December, and the initial PMI value of Markit manufacturing in the United States in

In addition, Bank of Canada Governor McClham and RBA Chairman Lowe will make speeches today. The SNB, the Bank of England and the European Central Bank will all announce interest rate decisions and hold press conferences. The Federal Reserve announced interest rate decisions and released a summary of economic forecasts.

In the metal market:

The mood in the metal market was pessimistic and fell one after another. The metal in the inner market fell across the board, and Shanghai copper fell for three trading days in a row. although there was some upward repair in the intraday session, it still recorded a decline of 1.49%, and the Shanghai tin concussion weakened by more than 2%. In terms of outer disk metals, only lun lead rose 0.46%, while lun copper fell on Wednesday, hitting a new low since October 7. Lunxi fell for four consecutive trading days, and Lenny fell more than 2%, recording a decline for the fifth day in a row. Black system intraday shock, in addition to coke leveling, iron ore, thread, hot roll, coking coal still hold some of the increase.

In terms of precious metals, gold futures fell for the second consecutive day on Wednesday and closed at their lowest close in two weeks. Gold futures prices continued to fall after the Fed announced plans to accelerate bond purchases and forecast three interest rate hikes next year.

"[overnight market] the Federal Reserve keeps interest rates unchanged and metals are falling.

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U. S. stocks closed higher on Wednesday, with technology stocks leading the way. The Fed left interest rates unchanged and announced an accelerated reduction in bond purchases, which is expected to raise interest rates three times next year and the year after next. Powell cited high inflation as the reason for the Fed's acceleration of Taper. The Fed's decision removed a major uncertainty affecting the stock market this year and boosted the stock market. The Dow closed up 383.25 points, or 1.08%, at 35927.43; the Nasdaq rose 327.94, or 2.15%, to 15565.58; and the S & P 500 rose 75.76, or 1.63%, to 4709.85.

[SMM Analysis: the provisional tariff rate of China's anode copper export tariff will be cancelled in 2022] according to the relevant provisions of the Import and Export tariff regulations of the people's Republic of China, the import and export tariffs of some commodities will be adjusted from January 1, 2022. Among them, compared with the import and export tariffs of copper-related products in 2021 and 2022, only the provisional tariff rates of unrefined copper and copper anodes for electrolytic refining (tariff number: 74020000) have changed, while the rest of copper-related products remain unchanged. The provisional tax rate on the export of unrefined copper and copper anode for electrolytic refining will be cancelled in 2022, and 15% in 2021 will be unmarked in 2022, which means that 30% export tariff will be enforced. The total export of this commodity is 66 tons in 2020 and 122 tons from January to October 2021. "View details

[SMM Analysis: orders in Air conditioning Industry support obvious Copper Tube Industry peak season] according to SMM survey data, the operating rate of copper pipe enterprises in November was 85.18%, up 9.23% from the previous month, and 4.55% higher than the same period last year. The copper pipe operating rate rebounded sharply in November from the previous month, announcing the arrival of another peak season. "View details

[SMM analysis: the impact of power cuts fades downstream rigid demand increases significantly in November] according to SMM survey data, the operating rate of refined copper rod enterprises in November was 72.9%, an increase of 6.33% from the previous month, and an increase of 0.81% over the same period last year. Among them, the operating rate of large enterprises is 73.19%, that of medium-sized enterprises is 68.69%, and that of small enterprises is 50.73%. "View details

SMM analysis: after five Lianyang, the fundamentals of Shanghai lead double diving turned? Shanghai lead opened lower on the 15th, falling more than 2.5% at one point in intraday trading. By the close, Shanghai lead fell 2.67% to 15320 yuan / ton, its second consecutive day of diving after five consecutive gains. Shanghai lead has been weak for two days in a row, is it a shift in the fundamentals of its better performance before? "View details

[SMM analysis: 2022 lead-related products import and export duties: new subcategory-waste lead-acid batteries] according to SMM, there are many adjustments in import and export tariff rates for lead-related products in 2022 and 2021, including a new subcategory-waste lead-acid batteries, details are as follows. "

[SMM analysis: no adjustment of import and export tariffs on zinc-related products in 2022] according to SMM analysis, the import and export tax rates of zinc and related products have not been adjusted for the time being in 2022, and the import and export tax rates of zinc-related products remain the same as those in 2021. "View details

General Administration of Customs: in order to fully, accurately and comprehensively implement the new development concept, support the construction of a new development pattern, and continue to promote high-quality development, according to the relevant provisions of the Import and Export tariff regulations of the people's Republic of China, the import and export tariffs of some goods will be adjusted from January 1, 2022. According to SMM, the import and export tariff rates for nickel-related products in 2022 and 2021 will remain the same. "View details

[SMM analysis: no import and export tariff adjustment for tin-related products in 2022] according to SMM, the import and export tariff rates for tin-related products in 2022 and 2021 will remain the same. "View details

[SMM Analysis: details of Import and Export tariff Adjustment for Iron and Steel related products in 2022] according to SMM, import and export tariffs on iron and steel related products have been adjusted only slightly, as follows. "check the details.

[details of Import and Export tariff Adjustment for stainless Steel related products in 2022] General Administration of Customs: in order to fully, accurately and comprehensively implement the new development concept, support the construction of a new development pattern, and continue to promote high-quality development, according to the relevant provisions of the Import and Export tariff regulations of the people's Republic of China, the import and export tariffs of some commodities will be adjusted from January 1, 2022. According to SMM, the import and export tariff rates of stainless steel related products in 2022 and 2021 will remain the same. "View details

[SMM Hot spot Analysis: epidemic situation grim Ningbo Hot Roll Trade impact Analysis] epidemic situation Sucker Punch Zhejiang, Ningbo Zhenhai District implemented closed management on December 5, local outbreaks have occurred in Ningbo, Shaoxing, and Hangzhou one after another. Since December 5, to 4: 00 p.m. on the 14th, a total of 235 confirmed cases and 1 asymptomatic infection have been reported in three places in Zhejiang Province. Among them, 55 confirmed cases were reported in Ningbo, 161 confirmed cases and 1 asymptomatic infection in Shaoxing, and 19 confirmed cases in Hangzhou. "View details

[SMM comment: thread's recent trend is stronger than expected real estate data is better than expected to boost again] after the opening of trading on the morning of the 15th, rebar ended its decline and pulled up in a straight line in intraday trading. Although there was a pullback, it was up 1.3% by midday. Throughout the recent period of time, the overall trend of rebar, since the end of November, although there are fluctuations, but the overall situation is gradually stronger. At 10:00 on the 15th, the National Bureau of Statistics released the latest issue of statistics, saying that investment in real estate development across the country increased by 6.0% from January to November 2021. Real estate and infrastructure data play a significant role in driving. "View details

[SMM Hangzhou thread weekly inventory: production continues to decline factory inventory to stop decline] the spot price of Hangzhou thread fluctuates widely this week. The merchants sold more goods in the early stage, the local inventory has reached a low level during the year, the phenomenon of tight resources is more obvious, the price difference between the first-tier and second-and third-tier brands has obviously narrowed, and there has been an influx of surrounding resources. As of November 16, the social inventory of building materials in Hangzhou was 36.5. compared with last week, the social inventory of building materials in Hangzhou decreased by 59000 tons and 13.92% compared with the previous week. A decrease of 112000 tons over the same period last year, a year-on-year decrease of-23.5%. "View details

[SMM blast furnace operating rate] Tangshan Iron and Steel Company resumes production and returns production this week. According to a survey by SMM, the operating rate of blast furnace calculated by SMM was 77.42% on December 15, up 0.45% on a month-on-month basis and down 2.07% on a month-on-month basis. "View details

[SMM analysis: import and export tariffs on ferrochromium-related products will not be adjusted in 2022] according to SMM, the import and export tariff rates of ferrochromium-related products in 2022 and 2021 will remain the same. "View details

In-depth Analysis of SMM Coke Market: is Coke Price rising really? In the case of coke supply tightening and steel mills actively replenishing the stock, coke prices are based on price increases, superimposed coking coal supply tightening, price rebound, coke prices rise is a high probability, but not necessarily within this week, it is also possible to raise next week, and no matter how the price increase, the range will be between 200 yuan / ton-300 yuan / ton, there is no possibility of a sharp rise. "View details

[SMM Analysis: details of Import and Export tariff Adjustment of Manganese Silicon related products in 2022] according to SMM, the import and export tariff rates of manganese silicon related products in 2022 and 2021 will remain the same. "check the details.

[SMM molybdenum spot KuaiBao: molybdenum concentrate auction high price transaction cost support] according to SMM, Longyu Mine conducted online molybdenum concentrate auction this morning, the auction price generally exceeded market expectations, according to statistics, the first three rounds of 47% molybdenum concentrate auction price is 2245-2285 yuan / tonnage, the last two rounds of 50% molybdenum concentrate auction price is 2295-2310 yuan / tonnage. SMM believes that as the year approaches, molybdenum concentrates and molybdenum products production enterprises do not have greater depot pressure, superimposed today's auction prices are higher, although the steel situation is not satisfactory, but the market may still be dominated by narrow shocks. "View details

[SMM magnesium ingot spot KuaiBao: magnesium price stable uplink] at present, the factory quotation is relatively strong, the spot price is single, and the sales staff are generally more optimistic about the future trend. And downstream, for the recent high level of magnesium prices, some downstream processing enterprises. "View details

[SMM data: tariff adjustment plan of the State Council tariff Commission for 2022: new medical titanium alloys for imported titanium products] according to SMM, the new products in 2022 are "titanium alloy bars, rods, profiles and profiles for surgical implants (titanium ≥ 88%, 5.5% ≤ aluminum ≤ 6.75%, 3.5% ≤ vanadium ≤ 4.5%), except composite materials." "View details

(Chile's Antofagasta says production could reach 900000 tons within five years) (Antofagasta PLC) said on Tuesday that if Centinela's second concentrator project is approved, copper production is expected to reach about 900000 tons within five years by 2026.

[Chile's state-owned Codelco reached an agreement with three unions of Chuquicamata] Chile's state-owned mining giant Codelco said it had reached early contract agreements with three unions of Chuquicamata mine. In the vote, the union accepted a proposal for a new three-year contract with a 1.3 per cent increase in wages and a bonus of $8500 each. In addition, the two sides also reached an agreement within the framework of negotiations on the extension of special working hours, bonuses for achieving production targets and flexible incentives.

[Nexa's copper-lead-zinc mine in Peru is temporarily suspended] on Tuesday, December 14, Nexa announced that it had temporarily suspended mining activities in its Peruvian mine because protesters blocked entrances. The annual output of zinc in Cerro Lindo is about 100000 / ton. Previously, Nexa's Atracocha mine (20, 000 tons per year), also located in Peru, was also subject to illegal road blockades and was restored in October. At present, Nexa still has an EI Porvenir (50, 000 tons per year in Peru) the mine is still in normal operation.

[Chile's Supreme Court ordered a new assessment of the Norte Abierto gold and copper project] Chile's Supreme Court upheld a lower court decision on Tuesday, calling for a new environmental assessment of the Norte Abierto gold and copper project, a joint venture between Barrick and Newmont. The dispute concerns the potential impact of mining projects on nearby indigenous communities.

[Baosteel shares accumulate experience to seek more room for development Baowu Aluminum production capacity has reached 100000 tons] Baosteel shares said in response to a question on the investor interactive platform that Baosteel shares said that Baosteel shares were currently entrusted with managing Baowu Aluminum Industry and hoped to further accumulate relevant experience and. In order to seek space for future development and better serve users. Baowu Aluminum Co., Ltd. plans to build an aluminum alloy intensive and deep processing production line with an annual output of 300000 tons, with a design capacity of 80, 000 tons per year for aluminum alloy automobile plates, 50, 000 tons per year for medium and thick aluminum alloy plates, and 170000 tons per year for aluminum alloy plates and strips. At present, Baowu Aluminum has a production capacity of 100000 tons and is expected to reach a full capacity of 300000 tons in 2023.

[supply is still limited China's aluminum production fell slightly in November] according to data released by the National Bureau of Statistics, China's aluminum production in November was 3.1 million tons, down 1.8% from a year earlier and slightly lower than the previous month. Output from January to November was 35.45 million tons, an increase of 5.7 per cent over the same period last year. The overall operating capacity of electrolytic aluminum in China increased slightly in November, but there is still a decline in the operating capacity of electrolytic aluminum in some areas due to power reasons, and there is a tank leakage accident in an aluminum plant in Yunnan. as a whole, the supply of electrolytic aluminum is still limited.

[INSG: October global nickel market supply turns to a small surplus] Foreign News on December 14, the data released by (INSG) on Tuesday showed that in October 2021, the global nickel market had a slight oversupply of 5000 tons, compared with a shortage of 3100 tons the previous month. In the first ten months of 2021, the nickel market had a supply shortfall of 165500 tons, compared with a surplus of 88500 tons in the same period last year.

[LG New Energy signs 20, 000-ton Nickel supply Agreement with Battery Recycling Company] according to foreign media reports, LG New Energy, one of the world's largest electric vehicle battery manufacturers, has reached a cooperation agreement with lithium battery recycling company Li-Cycle. The surge in demand for key raw materials for batteries has prompted battery manufacturers to expand their supply chains. According to a statement issued on December 14th, LG Chemical and its battery subsidiary LG New Energy agreed to purchase 20, 000 tons of battery-grade nickel material from Li-Cycle under a 10-year supply agreement that Li-Cycle will deliver from 2023.

[it is still debating whether ternary or lithium iron phosphate is better or worse. There are many technical routes for lithium battery cathode materials. At present, ternary and lithium iron phosphate stand in the center of the stage. In terms of performance, price and other aspects, both of them have their own advantages. It will develop in parallel for a long time in the future, and many suppliers have endorsed this point of view with practical actions. After combing the production expansion announcement of the lithium cathode industry chain in the past three months, Science and Technology Innovation Board Daily found that while many ternary material battery manufacturers vigorously develop high-performance material batteries, they are also actively developing lithium iron phosphate batteries.

Lithium ore and lithium iron phosphate layout "go hand in hand"! On the evening of the 14th, Sichuan Yahua Industrial Group issued two announcements in succession, one is to enrich the company's layout in lithium mines, and the other is its first layout of the current booming lithium iron phosphate cathode material business. In terms of lithium mining, Ya Hua International, a wholly-owned subsidiary of the company, intends to subscribe for 80 million shares of Australia's EV Resources Co., Ltd., accounting for 9.5% of the total share capital of EV, at a price of A $0.045 per share. The main purpose of this subscription is to jointly develop its existing lithium resources with EV. On the same day, Yahua Group also announced that the company's wholly-owned subsidiary, Yahua Lithium Industry, plans to set up a joint venture company, Yaan Xiamen Tungsten New Energy Materials Co., Ltd., with Xiamen Tungsten Xineng and Cangya Investment. Phase construction of 100000 tons of lithium cathode material production line, engaged in product research and development, preparation and sales of lithium iron phosphate. Xiamen tungsten Xinneng accounts for 83%, while Yahua lithium industry accounts for 10%.

[Northvolt plans to build a lithium conversion plant with an annual capacity of 35000 tons] according to foreign media reports, Swedish battery startup Northvolt and energy company Galp Energia plan to build a lithium conversion plant in Portugal to supply lithium materials to the region's growing electric vehicle industry. On December 14, the two companies said they would form a joint venture called Aurora and build a lithium conversion plant that could produce 35000 tons of lithium hydroxide a year, enough to use about 700000 electric vehicles.

[30,000 tons of ternary materials! 20,000 tons of lithium iron phosphate! Xiamen tungsten Xinneng cathode material manufacturer Xiamen Tungsten Xinneng presses the expansion acceleration button, and the company plans to invest in the Haiyi base to build a 30, 000-ton lithium-ion battery cathode material expansion project, with a total investment of 927 million yuan. in Ya'an Economic Development District, Sichuan Province, the construction of Ya'an base annual output of 100000 tons of lithium iron phosphate project (phase I).

[Yahua Group's first layout of lithium iron phosphate cathode materials industry high-prosperity listed companies have entered] under the background of continuous breakthroughs in lithium iron phosphate battery life technology, the decline of subsidies for new energy vehicles, and the fact that ternary batteries may face raw material "jams", lithium iron phosphate batteries are catching up with ternary batteries, driving the race track of lithium iron phosphate cathode materials to be very popular, and listed companies have stepped up their layout efforts. Now the 002497.SZ Group has also entered the track, the Financial Associated Press reporter learned from the industry insiders, Ya Hua is the first layout of lithium iron phosphate cathode materials.

[the price of heavy rare earths released on December 13 in southern China continues to be stable] A few days ago, southern rare earths announced the latest listing prices of medium and heavy rare earth oxides. Rare earth prices remained stable this week, with only terbium oxide increasing by 150000 yuan per ton. Yttrium oxide increased by 1000 yuan per ton, and the rest of the varieties were the same as last week.

[Dragon Magnetic Technology: overseas subsidiary Vietnam long Magnetic resumption] on the 14th, long Magnetic Technology issued an announcement that the company received a notification from Vietnam long Magnetic, and the Management Committee of Vietnam's Qianjiang Industrial Park approved Vietnam long Magnetic to resume production under conditions that meet the requirements of epidemic prevention and control. Vietnam Dragon Magnetic will strictly comply with the requirements of local epidemic prevention and control, make every effort to promote the work of resuming work and production, and ensure that production and operation are carried out in a safe and orderly manner.

[at the end of the year, titanium dioxide enterprises gathered together to issue a price increase letter from industry insiders: it is difficult to implement] the price of titanium dioxide, which has been raised 11 times this year, is going to rise again. Following the price increase letter issued by the industry leader Longbai Group (002601 SZ) on December 13, China Nuclear Titanium dioxide (002145.SZ), Huiyun Titanium Industry (300891.SZ) and Panzhihua Titanium Sea Technology also issued price increase letters on December 14. The price increases of various titanium dioxide enterprises are the same, with domestic customers increasing by 1000 yuan / ton and international customers by 150 US dollars / ton, the implementation time is January 1 next year.

[Gansu Yongjin annual output of 220000 tons precision cold rolled stainless steel strip project company registered] recently, Yongjin shares have completed the industrial and commercial registration of Gansu Yongjin and obtained the business license issued by Jiayuguan Market Supervision Bureau. According to the industrial and commercial registration information, its company name is Gansu Yongjin Metal Technology Co., Ltd., which was established on December 13, 2021, with a registered capital of 100 million yuan.

[Mongolia coal clearance reduction and expected to resume work caused by the double coke rise] recently, double coke futures continue to rise, double coke rise has the commonness of the industry, but also has the personality of their own varieties. "at present, the more optimistic macro environment has promoted the upward shift of the center of gravity of the black industrial chain." Du Peng, a senior analyst at Zhonghui Futures Black Department, said that not only that, in terms of coke, the overall inventory has declined rapidly, the relationship between supply and demand has gradually improved, and many coke enterprises have opened an upward mode, although downstream steel mills have not yet accepted it, but with the passage of time, winter storage starts, coke prices rise is a high probability event.

According to the news released by Jiawang District, the high alloy steel bar production line project of Xuzhou Delong Metal Technology Co., Ltd. with a total investment of 1.6 billion yuan, is one of the leading projects for the development of new stainless steel materials and other strategic emerging industries in the area. It was put into production at the end of August 2020, with a daily output of more than 2800 tons and an annual interest and tax of about 500 million yuan.

Terminal information

[photovoltaic "installed year" is coming? Wang Bohua, honorary chairman of the Photovoltaic Industry Association, said that due to lagging indicators, rising prices and other reasons, the installation forecast for this year has been lowered, from 55-65GW at the beginning of the year to 45-55GW. However, at present, the reserve scale of China's photovoltaic market is strong. According to incomplete statistics, the configuration scale of photovoltaic power stations in various provinces (including some wind power) totaled 89.28GW this year, and it has been announced that the scale of large bases exceeds that of 60GW.

According to foreign media reports, Guoxuan Tech recently reached an agreement with Vietnamese automaker Vinfast that the two companies will cooperate in the R & D and production of lithium iron phosphate batteries for pure electric vehicles. Both Guoxuan Tech and Vinfast also discussed the possibility of building a power battery factory in Vietnam, and Vinfast's parent company, Vingroup, plans to start selling electric vehicles in Vietnam this year, which will carry its own on-board batteries.

[Ningde Times reached a global strategic cooperation with Eaton to help Eaton improve its lithium battery uninterruptible power supply solution for enterprise applications] on December 14, Ningde Times New Energy Technology Co., Ltd. and Eaton Power (Shanghai) Co., Ltd. signed a strategic cooperation agreement in Ningde, Fujian Province. According to the agreement, this strategic cooperation involves product research and development, marketing, business model and service response mechanism. Ningde era will help Eaton improve its lithium battery uninterruptible power solutions for enterprise applications, and Eaton will provide energy-efficient products and solutions for Ningde era intelligent manufacturing projects.

[Wachovia New Materials: subsidiary Anhui Meixin Lithium Battery Wet separator Project is less affected by the epidemic] Wachovia New Materials said on the interactive platform that the first and second production lines of the company's subsidiary Anhui Meixin Lithium Battery Wet separator project are currently in the stage of installation and commissioning, and plan to release all these two line capacity in the first quarter of next year. At present, the installation process is less affected by the epidemic.

[new electrolyte or solving the problem of large-scale application of rechargeable zinc battery] the carbon and Nano Energy Lab of Tianjin University jointly with the Advanced Energy Materials team of Shenzhen International Graduate School of Tsinghua University and the Advanced carbon Materials Research Department of Institute of Metals, Chinese Academy of Sciences, successfully developed a new low-cost non-flammable aqueous organic electrolyte compatible with metallic zinc. The results are published online in the international journal Nature Sustainability. The successful research and development of this electrolyte is expected to further promote the current upsurge of zinc battery research and promote the industrialization process of zinc battery.

The elephant turns around! Toyota will spend $35 billion to develop electric vehicles.] on Dec. 14, Toyota held a press conference on the battery electric vehicle strategy. Toyota has announced that it will invest 4 trillion yen ($35 billion) in electric vehicles by 2030, with a goal of selling 3.5 million electric vehicles a year around the world. Among them, the Lexus brand plans to sell all electric vehicles in Europe, North America and China by 2030, and pure electric vehicles will account for 100% of the brand's sales by 2035.

[the China Automobile Association predicts that China's new car sales will exceed 5 million in 2022.] on the basis that the cumulative new car sales in China's automobile market have reached 23.489 million from January to November this year, the China Automobile Association predicts that this year's new car sales in the Chinese car market will reach 26.1 million, an increase of 3.1% over the same period last year. Of this total, passenger car sales were 21.3 million, up 5.6 per cent from the same period last year, while commercial vehicle sales were 4.8 million, down 6.4 per cent from the same period last year. The annual sales of new energy vehicles were 3.4 million, a 1.5-fold increase over the same period last year.

[CICC: intelligent and networked two-wheel drive automobile industry ushered in a major opportunity] China International Capital Corporation pointed out that intelligent and networked two-wheel drive, the automobile industry ushered in a major opportunity. At present, a new round of global science and technology industry reform is booming. As an important carrier of scientific and technological innovation, intelligent network-connected vehicles are promoting profound changes in the form of automobile industry, traffic travel mode, energy consumption structure and social operation mode. We believe that vehicle networking and bicycle intelligence, as two parallel technical routes, will be deeply coupled with the layout rhythm of intelligent network-connected vehicles, and fully autonomous driving will be realized through collaborative perception, decision-making and control. thus bringing new development opportunities for the global automobile industry.

[Italy issues 2035 ban on internal combustion engines] according to foreign media reports, according to the plan of the European Commission, the Italian government has decided to ban the sale of new internal combustion engine cars from 2035. For light commercial vehicles, the ban will apply from 2040. In this regard, the Italian government has followed in the footsteps of European countries such as France, the Netherlands, Norway and the UK, which want to ban the sale of new internal combustion engine cars from 2030, 2035 or 2040. (CITE), the Italian ecological transformation committee, stressed that the Italian auto industry had plenty of time to prepare for the production transformation.