[SMM Sheets & Plates Daily Review] Short-term sheets & plates continue to consolidate

The domestic ore market in eastern Liaoning remained broadly stable today. Most traders had no contract orders, and inquiries for cargoes were scarce, with only a few making small purchases under long-term agreements based on their own needs. Overall transactions were sluggish. Ore beneficiation plants mostly maintained intermittent production due to tight ROM supply.

From September 20 to 21, Wang Hongzhi, Party Leadership Group Secretary and head of the National Energy Administration, led a team to Jilin to survey energy investment, winter peak energy and power supply, new-type power grid construction, and new fuel development. Wang Hongzhi stressed the need to expand the scale of energy investment and accelerate the construction of major energy projects. Fully advance new-type power grid construction and appropriately push forward the implementation of new-type power grid project tasks ahead of schedule. Leverage Jilin's resource advantages and actively and orderly promote the high-quality development of industries such as new energy, hydrogen energy, and green fuels. Broaden investment channels, improve service levels, and actively attract various enterprises, especially private enterprises, to participate in energy project construction. Solidly carry out all work related to winter peak energy and power supply to ensure the people stay warm through the winter. Attach great importance to workplace safety and safeguard high-quality energy development with high-level safety.

The CPCA released data showing that from September 1-20, retail sales of passenger vehicles in China reached 878,000 units, down 22% YoY and up 8% MoM. Cumulative retail sales since the beginning of this year reached 2.593 million units, down 21% YoY. From September 1-20, retail sales of new energy passenger vehicles in China reached 596,000 units, down 9% YoY and up 14% MoM. Cumulative retail sales since the beginning of this year reached 7.27 million units, down 12% YoY. From September 1-20, the penetration rate of new energy vehicles in China's passenger vehicle retail market was 67.9%. From September 1-20, the penetration rate of new energy vehicles in wholesale shipments by passenger vehicle producers in China was 73.9%.