[SMM Metal Morning reference] Metal closed up only Shanghai lead slightly fell Shanghai Nickel hit a new high! | Lithium ore supply continues to be tight? | the market prospect of stainless steel after the soaring year

SMM tin morning news: 2202 contract night market to maintain high and narrow horizontal trading, funds left the market substantially. Fundamentals, inventory data fluctuations are small, spot prices are higher, there is no market price. Market trend, 2202 contract night trading after the opening of the narrowing price volatility is relatively stable, the trend to maintain a high horizontal finishing trend. 2202 contract funds concentrated and substantially left the market, and gradually transferred to 2203 contracts. To sum up, the price of tin.

SMM tin trend maintains horizontal speculative capital concentration and departure [Shanghai Tin Morning News]

"Click to view the price of SMM tin products

Summary of SMM Steel Morning meeting: yesterday's snail shock was strong, terminal demand was basically stagnant, and market transactions were deserted. Inventory data released, according to SMM data, the national total inventory of building materials 5.589 million tons, an increase of 412500 tons over last week, an increase of 8.0% month-on-month, inventory growth slightly expanded, but production stopped to decline, the extent of accumulation is obviously on the low side. In the follow-up, the supply side independent electric arc furnace steel enterprises stop production on a large scale and have a holiday, and the environmental protection production restrictions in some parts of the north are still relatively strict, and the output may still be at a low level; the demand side is nearing the end of the New year, and the construction site has been shut down one after another. the increase in shutdown projects has led to a drop in demand to the "freezing point", and inventory is expected before the Spring Festival.

The raw materials of finished products continue to grow steadily and become stronger and stronger [minutes of SMM Iron and Steel Morning meeting]

"Click to view the price of SMM steel products

[important] Shanghai Changjiang stop quotation please use SMM Changjiang price to replace

Macro: on the dollar side, as of 20:55 Beijing time on January 20, Dow futures (March 2022) rose 0.32%, S & P 500 index futures rose 0.36%, and NASDAQ 100 index futures rose 0.70%. Us stocks opened higher and lower again in the previous session, with all three major indices falling nearly 1 per cent. By the close, the S & P 500 was down 0.97% at 4532.76, the NASDAQ was down 1.15% at 14340.26, and the Dow was down 0.96% at 35028.65.

There is a tight situation in the European market, which is trading, with positive results, but falling energy prices and monetary policy uncertainty have dampened the bullish mood in the market.

In terms of crude oil, crude oil futures hit a new high in night trading and fell late in the day, turning green for the second day in a row, falling slightly, after rising for several consecutive days due to concerns about tight supply, and the index crude oil hit a seven-year high in this rally.

According to official data released on Thursday, Saudi Arabia's crude oil exports rose to 6.949 million barrels per day in November, the highest level since April 2020. In a monthly report released this week, OPEC said oil production was expected to rise as OPEC and its allies gradually unwind record production cuts imposed last year.

Macro focus: EIA crude oil, refined oil, gasoline inventory changes in the week ended January 14 in the United States, and Gfk consumer confidence index in the United Kingdom in January.

In the metal market:

Domestic and foreign metals closed up, only Shanghai lead closed down 0.19%. Futures nickel hit a record high. Shanghai nickel rose nearly 4% to 177670 yuan / ton, while Lunni rose more than 3% to 23855 US dollars / ton.

In terms of black, iron ore rose 2.84%, stainless steel 1.64%, thread 0.85%, hot rolling 0.73%, thread, hot rolling and iron ore all rose four times in a row. Coke rose more than 1%, thermal coal rose 0.55%, coking coal closed flat; as of the night of January 20, thermal coal rose five times in a row.

In terms of precious metals, on Thursday (January 20), precious metals rose sharply, with Shanghai gold rising 1.34% to a two-month high, while Shanghai silver rose 2.68%, also hitting a two-month high. Political tensions have also strengthened gold's safe-haven appeal, boosted by the fall in US bond yields from their highs. In the evening, focus on the number of initial jobless claims in the United States, while the Federal Reserve's next decision will be held on January 26, if the release of hawkish signals may put pressure on precious metals.

For the current market, Huatai Futures believes that the US dollar and US bond yields have fallen slightly, which makes the price of precious metals stronger obviously, with Comex gold rising to the front line of $1840 / oz. At present, in the case of persistent high inflation and repeated epidemic, it is still recommended to maintain the strategic multi-allocation of precious metals.

[overnight market]

"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

"Click to view the price of SMM cobalt lithium products

[SMM research: why there is such a big gap between the north and the south of the pre-holiday time for copper pole enterprises in 2022] Cable enterprises, as large consumers of copper poles, have to take a holiday in advance because of the decline in the order volume of the downstream real estate industry and the delivery volume of the southern network is not as good as that of the same period last year, only some engineering orders can not support their normal production. But the situation is better in the East China market, where orders from real estate and national networks are better than those from South China. In addition, cable companies in East China are supported by photovoltaic and wind power cables. View details

[SMM aluminum downstream weekly survey: orders are weakening downstream aluminum processing enterprises continue to decline] the average operating rate of downstream leading aluminum processing enterprises fell 1.6 percent to 66.8 percent this week. Sub-section, near the Spring Festival, profile enterprises and recycled alloy enterprises have stopped production and holiday one after another, superimposed this week aluminum prices continue to maintain high shocks, alloy, cable enterprises pre-festival demand continues to weaken, the operating rate continues to decline. View details

[SMM Analysis: survey of Spring Festival Holidays in Aluminum Industry chain] at present, some small and medium-sized factories have had a holiday, while most of the others have suspended production after the 20th, with holidays ranging from 7 to 20 days, among which some enterprises in the north have made preparations for a holiday in advance of January 15 and a long holiday in February. On the whole, the duration of this year's holiday is slightly longer than in previous years, on the one hand, the performance of terminal demand is general; second, the recent sharp rebound in raw material prices, enterprises are cautious to accept orders. View details

[national aluminum bar inventory weekly review: aluminum bar inventory increased by 36500 tons to 176900 tons compared with last Thursday] the latest aluminum bar inventory data from SMM statistics show that aluminum bar inventory has increased by 36500 tons to 176900 tons compared with last Thursday, an increase of 25.95%. So far, the national aluminum bar inventory has been accumulated for four weeks in a row. This week is still the performance of the other four places except Huzhou. View details

[SMM survey: primary lead smelting enterprises Spring Festival holiday and production change assessment-updated supplementary edition] according to the SMM survey, most of the primary lead smelters maintained their production plans in January, and although a few smelters arranged for the Spring Festival to continue production, they planned to reduce production slightly due to various reasons. At the same time, for the time being, few smelters have made it clear that there are plans to increase production in February, so the overall supply of primary lead smelting declined slightly in February. View details

[SMM analysis: how long can the tin price of volume and price rise?] SMM believes that it basically depends on whether the current driving logic has changed. At present, tin is still trading realistically. At least from a realistic point of view, tin ingots in smelters and social stocks are still at a low level, and the range of spot rising water is not large. It is expected that the increment of tin ingots in 2022 is limited, and the increment is concentrated on MSC. Although there is open source expansion in Jiangxi in China, However, according to the current research, there is no plan to start work in the short term. Demand for digital electronic products and photovoltaic and other industries are booming, tin prices are estimated to rise rhythmically. View details

[SMM tin summary review: Shanghai tin rose 4.78%, trading volume surged] Customs data show that in December 2021, imports of tin ore and concentrate were 13324 tons, an increase of 12.62% from a month earlier, a decrease of-17.56% over the same period last year. Imports for the whole of 2021 were 184299 tons, an increase of 16.54% over the same period last year. After the survey, it is expected that the import volume of tin concentrate increased month-on-month in January, which will bring some loose expectations for the domestic refined tin supply. View details

According to SMM analysis, the decline in imports of tin ingots in December significantly affected the transformation of domestic net exports] Customs data show that refined tin imports in December 2021 were 306 tons, a month-on-month decrease of-69.88%, and a year-on-year decrease of-79.14%; December refined tin exports were 438 tons, a month-on-month decrease of-36.98%, an increase of 12.31% over the same period last year. In December, domestic refined tin changed to net export, with a net export volume of 132 tons. View details

[SMM analysis: imports of tin mines at Myanmar ports gradually resumed in December compared with December.] from the perspective of imports by country, tin mines in December were mainly imported from Myanmar, the Democratic Republic of the Congo (DRC), Australia and other countries. Of this total, 9461 tons were imported from Myanmar, which imported about 2365 tons of metal at an average grade of 25 per cent, while 3863 tons were imported from other countries, or about 1932 tons at an average grade of 50 per cent. View details

"check the spot price of SMM tin

[SMM Nickel brief Review: nickel prices are supported by new supply concerns.] on January 20th, intraday nickel closed at Changyang column, the upper track of the Bol line runs through the K column, and the 160000 line below may be the follow-up support. LME warehouse receipt inventory low market supply worries still exist, the bulls are strong, the contradiction between supply and demand is prominent to attract financial attention, nickel limit, pull up SS2203, non-ferrous general rise. Follow-up to pay attention to whether there is any relief in nickel spot, bringing a pullback opportunity for nickel prices. View details

"View SMM Nickel spot quotation

[nickel pig iron trading daily review: the future price of nickel high nickel iron is very high and the acceptance of steel mills is limited.] on January 20th, the average price of SMM high nickel pig iron was 1362.5 yuan per nickel point (including factory tax), which was the same as that of the previous day. Within a few days, Shanghai Nickel strongly rose to a new high, and the discount between Ferro-Nickel and pure nickel was greatly expanded. View details

[SMM analysis: what is the future trend of stainless steel after touching the limit of trading with colored belt? First of all, from the point of view of the disk itself, today's Tagaung Taung power supply tower in Myanmar was greatly affected by tin and nickel, and the news fermented rapidly. in addition, the inventory of these two items themselves are in a low position, and there is a great contradiction between supply and demand. These two items are the first items to enter the market, and their strong trend is completely logical, so they bring up stainless steel, but from the perspective of stainless steel itself, the trend of stainless steel itself is not weak. At present, the closing price is close to 19000 yuan / ton. View details

[SMM Analysis: why does the downstream holiday stainless steel soar? what is the market situation after the year? Spot market, according to SMM research, at present, Wuxi downstream market has begun to enter the state of holiday, while most of Foshan downstream market has been on holiday after the 15th, generally in a relatively light transaction state. However, steel mills due to pre-maintenance and other reasons, the arrival volume has been a little less than the normal state, and from December 2021, after the gradual recovery of market transactions, inventory began to enter the destocking stage. View details

"View the spot quotation of SMM stainless steel

[SMM Daily Review: iron price rises steadily after ferrochrome deals are flat] Jiuquan Iron and Steel Co., Ltd. announced that the mining price of high-carbon ferrochromium in January 2022 was 8095 yuan / 50 base tons, which was 1355 yuan lower than the purchase price in December. Recently, the price of chromium ore has risen slightly, and the cost support of ferrochromium has been strengthened again, but the transaction is light and the demand side has not recovered obviously. recently, the operating rate in the north is still high, and the upward pressure on the price of high-carbon ferrochromium is still high. View details

[SMM Manganese Silicon Review: SM2205 contract shock Operation Tianpishan production limit to give Silicon and Manganese Price support] on January 20, basically, after the market spread the news of Tianpishan Park load limit, Tianpishan Park in Inner Mongolia today officially issued a notification letter of production limit, limiting 70% of the load. Affected by this, the mentality of all parties to raise the price has been enhanced, in the short term to give silicon and manganese a certain price support. View details

[SMM analysis: see also guaranteed supply agreement! Shanghai Enjie won another big order] on January 19, Enjie, the domestic leader in the field of diaphragm, issued an announcement. Its holding subsidiary, Shanghai Enjie, and the domestic power battery giant China New Airlines signed the 2022 Insurance and supply Framework Agreement in Shanghai on January 19, 2022. In order to ensure the stability of supply and demand on both sides, the two sides promised to trade lithium batteries of no more than 2.5 billion yuan in 2022. View details

[SMM Lithium monthly feature: downstream enterprises with a large lithium salt gap in January of the New year may face the risk of reducing production.] in December, the average monthly price of battery-grade lithium carbonate was 236478 yuan / ton, an increase of 20% over the previous month; at the beginning of the month, the price of lithium carbonate accelerated. Downstream manufacturers have a strong mood of preparing goods, and the purchase price has climbed all the way to a maximum of 225000 yuan / ton. The price of the smelter goes up to 21-230000 yuan / ton, of which the head big factory adopts the strategy of keeping up, and the quotation is favorable to the big customers of long-term cooperation. In the middle of the month, the price of lithium carbonate accelerated. The price of battery-grade lithium carbonate has risen to 23-245000 yuan per ton, and the purchase volume has increased slightly in the near future due to the increasingly serious mood of stock preparation at the end of the year. View details

[SMM analysis: the removal of domestic cobalt intermediates in 2021 will increase the price of Q1 cobalt salt in 2022.] among the imported raw materials, cobalt mines imported 139 metal tons (converted at 8% grade) in December, a decrease of 46% from the same period last year and 52% from the previous year. From January to December 2021, China's cobalt ore imports totaled 1511 metal tons, down 64 percent from the same period last year. In December, cobalt wet smelting intermediates imported 7862 metal tons (converted at 27 per cent grade), down 4 per cent from a month earlier and up 4 per cent from a year earlier. View details

[SMM News: the average price of lithium carbonate jumped 8000 yuan today to break through 340000! The supply gap continues to widen] battery-grade lithium hydroxide followed, with quotations rising to 28.2-291000 yuan / ton, with an average price of 286500 yuan / ton, a daily increase of 1.78 percent. At the same time, spot quotations for spodumene concentrate (6% focus CIF China) also rose, rising US $50 per tonne, or 2.02 per cent, to US $2530 per tonne today. View details

"View SMM Cobalt Lithium spot quotation

[SMM analysis: what is the impact of hot metal on the policy of Tangshan Winter Olympic Games] recently, the policy of limiting production in Tangshan Winter Olympic Games finally landed, initially formulating a real-time plan for off-peak production in the iron and steel industry in the heating season of 2021-2022. The "plan" stipulates that the period of off-peak production is from January 1, 2022 to March 13, 2022, and the concentrated production reduction time is from January 30 to February 20 (Winter Olympic Games). March 3-March 13 (Winter Paralympic Games). View details

[SMM thread inventory: electric furnace shutdown leads to a decline in output and inventory growth is low compared with the same period last year] this week, the snail is running strongly, the spot market quotation region is divided, and the northern region has a large increase, while East and South China have followed slightly. The supply of market resources in some areas is tight, the enthusiasm of steel traders in taking stock depots has increased, the growth rate of social depots has expanded, the ratio of factories and depots has been basically flat, and the overall plant and social depots are at a low level compared with the same period last year. View details

[SMM hot coil inventory: more places into the "valuable and unmarketable" hot coil continued to accumulate this week] the total hot coil inventory continued to accumulate this week, hot coil output continued to increase during the week, the recent hot coil steel plant production profit is better, maintenance is also less, hot coil output continues to increase. On the demand side, this week, the mainstream markets have basically entered the final transaction stage before the festival, terminals, traders and warehouses are preparing for a holiday one after another, and the demand for hot volumes is gradually weakening. View details

[SMM Coke spot Daily Review: there is little hope for coke prices to rise in the fourth round] January 20, the supply side: recent coking enterprises production is more active, coke inventory is also generally low, but due to the impact of the Winter Olympic Games, steel mills are expected to increase production restrictions, and some coking enterprises that have surpassed the fourth round have adjusted coke prices back. Demand side: with the advent of the Winter Olympic Games, some steel mills plan for limited production, and because of the rise in coke and iron ore prices, steel mills' profits have dropped significantly, so they do not accept the idea of coke fourth round increase, but due to the influence of factors such as weather and epidemic situation, some steel mills have poor delivery and good demand for coke procurement. View details

[SMM analysis: year-on-year growth of petroleum coke imports in 2021 is 23.84%] according to customs data, China's petroleum coke imports were 783600 tons in December 2021, a decrease of 41.22% from the previous month and 13.73% from the same period last year. For the whole of 21 years, China's total imports reached 12.5156 million tons, compared with 2020, China's imports in 2021 increased by 23.84 percent, an increase of 2.4094 million tons. View details

SMM analysis of rare earth permanent magnet plate continuous callback rare earth market bottomed out? On the news, the latest rare earth quotations for rare earths in Southern China were announced this week, and a variety of medium and heavy rare earth oxides were raised this week compared with last week. Spot, January 20, SMM praseodymium neodymium oxide spot price of 922500 yuan / ton, after stabilizing in late November, rose again at the end of December. View details

[SMM Daily Review: the mainstream market of rare earths is stable. The price of praseodymium, neodymium, gadolinium, holmium and holmium slows down. Today, the mainstream market price of praseodymium and neodymium oxide is 92-925000 yuan / ton, the mainstream price of praseodymium-neodymium metal is 113-1.15 million yuan / ton, the mainstream price of gadolinium oxide is 520000 yuan / ton, and holmium oxide is 1.6 million yuan / ton. Most of the consignors are bullish on the post-holiday spot market, the market is in a strong mood to sell, and some upstream manufacturers are unable to hoard goods. View details

[SMM Weekly Review: downstream pre-holiday stock basically ends trading in silicon market] Silicon prices are basically stable this week, with only low-grade silicon oxygenated in Yunnan rising slightly by 50-100 yuan / ton due to less spot freight and other factors. The price of oxygen 55 silicon in East China is 19500 yuan / ton, 44 silicon is 20500-20700 yuan / ton, and 330 silicon is 21100-21300 yuan / ton, which is the same as last week. View details

[export data of China's other pigments and products based on titanium dioxide in December 2021] in December 2021, China exported 1009 tons of other pigments and products based on titanium dioxide, a decrease of 9.99% from the previous month and 30.27% from the same period last year. Exports increased by 1.97%. View details

[000758.SZ shares: the company signed the contract for the Oman copper smelter project in Indonesia in December last year and is currently actively carrying out construction preparations.] 000758.SZ said on the investor interactive platform on January 20 that the company signed the contract for the copper smelter project in Oman in December last year and is currently actively carrying out construction preparation work. The project will be settled and collected in stages according to the schedule after the start of the project. The reporting period of 2021 has ended, and the project will have a positive impact on the company's future performance according to the actual construction progress, but if unpredictable or force majeure and other factors are encountered in the actual performance process, there will be delays in the construction period, resulting in risks such as failure to complete the project on time, acceptance and so on. View details

Hangzhou Iron and Steel Co., Ltd. (Hangzhou Iron and Steel Co., Ltd.) Hangzhou Iron and Steel Co., Ltd., Hangzhou Iron and Steel Co., Ltd. View details

[operation and trend of lead and zinc industry] the results of the index monitoring model show that in December 2021, the monthly prosperity index of China's lead and zinc industry was 37.4, down 1.5 points from the previous month, still operating in the "normal" range, and the leading composite index was 64.8, down 0.4 points from the previous month. View details

[total profit of molybdenum chemical industry plate of Jinduicheng molybdenum group increased by 265% year on year in 2021] in 2021, the molybdenum chemical industry plate-chemical branch of Jinduicheng Molybdenum Group Co., Ltd. adheres to the theme of high-quality development, focusing on "stabilizing production, adjusting structure, and adding new products." the main line of "cost reduction", unswerving and steady growth, pioneering and strong responsibility, running out of high-quality and high-benefit development "acceleration". Statistics show that the annual output of ammonium molybdate, high-purity molybdenum trioxide and molybdenum disulfide increased by 5.7%, 10.3% and 3.1% respectively over the same period last year, achieving 343% of the annual profit target, an increase of 265% over the same period last year. View details

[lithium resources supply continues to be tight] overseas lithium mining projects have encountered "changes". On January 18th, both Rio Tinto and Allkem announced that their lithium mine projects had been postponed. Industry insiders say lithium supplies may be tight throughout 2022, and lithium carbonate prices are expected to rise by about 80% in the first half of the year. The average price of battery-grade lithium carbonate and lithium hydroxide was 342000 yuan / ton and 286500 yuan / ton, respectively, according to SMM. View details

Ning Wang's biggest rival detonates South Korea! LG new energy IPO is nearly 70 times oversubscribed by retail investors with record demand.] among the global power battery giants, Ningde era undoubtedly firmly holds the position of "the first share of new energy batteries". Now, Ning Wang's dominance will be challenged by a powerful rival-the upcoming listing of South Korean battery maker LG New Energy (LG Energy Solution). View details

[Barrick fourth quarter gold production increased 10%] Foreign News on January 19, Canada's Barrick Gold Company (Barrick Gold Corp) said on Wednesday that its gold production increased by 10% in the fourth quarter, driven by the strong performance of the Carlin and Cortez mines in Nevada. The Carlin and Cortez mines are part of the Nevada Gold Mine, a joint venture between Barrick and Newmont Corp. Barrick owns 61.5% of the shares. Initial total gold production was 1.2 million ounces in the quarter ended December 31, up from 1.09 million ounces in the previous quarter, the report said. View details

Terminal information

[Ministry of Industry and Information Technology: the stability of the global integrated circuit supply chain is still facing severe challenges] Luo Junjie pointed out that integrated circuits are a highly globalized industry, and China is the largest integrated circuit market in the world. The Chinese government has always adhered to the principle of openness and development and is committed to building a global close cooperation and sustained and stable industrial chain supply chain. Therefore, in view of the problem of automobile "lack of core", the Ministry of Industry and Information Technology has been paying close attention to and actively dealing with it. We have taken more measures to ensure the supply of chips and maintain the stable operation of the automobile industry. View details

[Gartner: semiconductor market size last year $583.5 billion Samsung regained the crown of sales] according to industry data released Wednesday by US research firm Gartner local time, the global semiconductor market grew by 25.1% in 2021, totaling $583.5 billion, breaking the $500 billion mark for the first time. View details

Is the era of "quantum battery" about to begin? Key physical principles are confirmed in conceptual devices. "quantum batteries" may seem out of reach, but they are likely to revolutionize the energy storage industry in the future. Recently, a team of scientists from the University of Adelaide in Australia successfully proved for the first time the quantum mechanics principle of "super absorption", which is a key idea supporting quantum cells and indicates that quantum cells may become a reality. View details

[a number of global head battery companies will land on the capital market this year] 2022 will be a key year for power battery companies to land intensively in the capital market, including LG New Energy, Honeycomb Energy, China New Airlines (formerly AVIC Lithium) and other global head battery companies are expected to land in the capital market. In seven days, LG New Energy will enter the South Korean capital market for the initial public offering of (IPO). In view of the promising market prospects for power batteries and electric vehicles, LG New Energy shares have been subscribed for as much as 114 trillion won, or about US $95.62 billion. View details

[Baolixin latest announcement: signing 100 million yuan lithium battery parts guarantee and supply agreement] Baoli new announcement recently signed a lithium battery parts guarantee and supply agreement with customers on lithium battery products from January to June 2022. The agreement stipulates that the company will normally supply a total of 130000 sets of various types of lithium battery products to the customer from January to June in 2022, with a total amount of about 100 million yuan. View details

[the State Council: planning and building a convenient, efficient and moderately advanced recharging network] the "Plan" points out that under the guidance of Xi Jinping's thought of socialism with Chinese characteristics in the new era, comprehensively implement the spirit of the 19th CPC National Congress and the 19th Plenary session, based on the new development stage, completely, accurately and comprehensively implement the new development concept, build a new development pattern, and adhere to the people-centered development idea. With promoting high-quality development as the theme, deepening supply-side structural reform as the main line, reform and innovation as the fundamental driving force, meeting the growing needs of the people for a better life as the fundamental purpose, and speeding up the construction of a transportation power as the goal, we will coordinate development and safety, improve the network of facilities with structural optimization and integration, expand the supply of diversified and high-quality services, and cultivate innovation-driven, integrated and efficient development momentum. We will strengthen the development model of green security, opening up and cooperation, and build a modern comprehensive transportation system to provide strategic support for building a modern socialist country in an all-round way. View details

[Ministry of Ecology and Environment: circular on further promoting the Informatization of Environmental Management of Hazardous wastes] in order to implement the relevant requirements such as the "Law of the people's Republic of China on the Prevention and Control of Environmental pollution of Hazardous wastes" and other relevant requirements, further enhance the level and capability of informatization in environmental management of hazardous wastes, and provide information-based convenient services for hazardous waste related units, Our Ministry has studied and drafted the Circular on further promoting the Informatization of Hazardous waste Environmental Management (draft for soliciting opinions). View details