"[overnight market] Lun Zinc is up more than 2%. There are ups and downs in the metal market. The US dollar weakens. Gold ends up with a slight drop in Gao Mei Oil.
"[macro outlook] focus on night data on new housing starts in the United States in September and construction permits in the United States in September.
Today's focus
[four departments standardize the import management of recycled brass raw materials, recycled copper raw materials and recycled cast aluminum alloy raw materials] in order to standardize the import management of recycled brass raw materials, recycled copper raw materials and recycled cast aluminum alloy raw materials, promote the high-quality development of recycled metal industry, In line with the standards of "recycled brass raw materials (GB/T 38470-2019)", "recycled copper raw materials (GB/T 38471-2019)" and "recycled cast aluminum alloy raw materials (GB/T 38472-2019)", recycled brass raw materials, recycled copper raw materials and recycled cast aluminum alloy raw materials do not belong to solid waste and can be imported freely. "View details
[Democratic Republic of the Congo extends the ban on the export of copper concentrate until April 2021] recently, Congolese Minister of Mining Willy Kitobo Samsoni said that he would grant a six-month exemption to the ban on the export of copper concentrate until April 12, 2021. Since 2013, the country has banned the export of copper and cobalt concentrates to promote the development of its own enterprises. however, due to its own lack of refining capacity, the country has issued exemption orders several times, and in August this year, the DRC government said it had suspended the export of all minerals except copper concentrate pending negotiations with miners. "View details
[SMM analysis: will the import of waste aluminum be released when the new standard of imported waste aluminum falls to the ground in November? The landing of the new standard means the opening of the import of waste aluminum, which is a change in direction, that is, it is expected that the quantity of imported waste aluminum in Q4 will no longer be reduced compared with the previous month. It will lead to the repair of the price difference of waste aluminum at home and abroad, which will reduce the cost of domestic recycled aluminum on the one hand and reduce the competitiveness of imported aluminum alloy ingots on the other. For the price point of view, the current domestic ADC12 aluminum alloy ingot prices will slow down, short-term prices will remain stable. Following the release of imports of scrap aluminum in November, prices may fall to a certain extent. "View details
[SMM scrap aluminum daily review: supply shortage panic atmosphere constantly recycled aluminum enterprises to raise prices to grab goods] October 19th aluminum prices rose 110yuan / ton to 15060 yuan / ton, the overall scrap aluminum price is flat. Today, due to the rise in aluminum prices, in the panic of the shortage of waste aluminum supply, recycled aluminum enterprises continue to lift and grab goods, so that the price of waste aluminum continues to rise again by 100 yuan / ton. In the follow-up, attention should be paid to the reflux of cooked aluminum from aluminum bars to traditional recycled alloys, resulting in an increase in the market share of aluminum water rods, resulting in the formation of soft primary aluminum instead of waste aluminum. "View details
[SMM data: the social inventory of electrolytic aluminum dropped by 16000 tons compared with the previous Thursday.] on October 19th, the demand strength of each major consumer was OK. According to SMM statistics, the social inventory of electrolytic aluminum in China was 703000 tons, down 16000 tons from October 15. On October 19th, the demand of each major consumer was OK. According to SMM statistics, the social inventory of electrolytic aluminum in China was 703000 tons, down 16000 tons from 15 October. "View details
[Australia makes the second double anti-sunset review final judgment on Chinese aluminum profiles] on October 16, 2020, the Australian Anti-dumping Committee issued notice No. 2020 / 103, saying that the Australian Minister of Industry and Science and Technology adopted the final recommendation of the second anti-dumping and countervailing sunset review of aluminum profiles imported from China by the Australian Anti-dumping Committee, and decided to start from October 28, 2020. We will continue to extend the duration of anti-dumping and countervailing measures against Chinese products involved in the case, and levy anti-dumping and countervailing duties in the form of low-price duties and fixed and variable tax rates. "View details
According to SMM, as of Monday, the total inventory of SMM seven zinc ingots was 159800 tons, down 3000 tons from last Friday and an increase of 800 tons from last Monday. Overall domestic inventories fell over the weekend, with Shanghai inventories falling relatively sharply and Tianjin inventories still increasing. The demand for low-cost imported zinc in Shanghai is relatively good, coupled with the weekend downstream replenishment drive, inventory decline; Guangdong weekend delivery improved, downstream after-holiday replenishment demand is also better, inventory slightly decreased; Tianjin smelter normal arrival, downstream galvanized tube orders weakening, affecting market demand, inventory continues to accumulate. Overall, the original inventory in Shanghai, Guangdong and Tianjin fell by 2100 tons, while the inventory in seven places across the country dropped by 3000 tons.
[SMM Quick Review: Shanghai Nickel once broke through the 120000 barrier. Fundamentals have the upper hand] from the fundamentals of the nickel market, bullish factors still prevail, nickel ore prices are strong, and supply will continue to be tight after the Philippines enters the rainy season in the fourth quarter, while nickel pig iron is supported by raw materials and continues to stalemate with downstream bargaining; the demand for pure nickel slowly resumes the continued low level of imports, domestic supply is likely to decrease, and will also be tight in the later period. In the case of the fundamental direction has not changed, macro sentiment is still the key to the rebound height of the nickel market. This week, Lunni is expected to be 15000-15850 US dollars / ton and Shanghai Nickel 116500-121500 yuan / ton. "View details
According to market understanding, after the steel mills opened in flat trading in the morning, the market was not enthusiastic about taking orders, and the order intention was not as positive as expected. In the afternoon, Castle Peak and other steel mills closed and suspended receiving orders. According to SMM, the market generally holds a consolidation attitude towards the market in the fourth quarter, believing that there is not much room for rise, so traders are not in a hurry to stock up; on the other hand, steel mills also have the intention to test the market for opening orders, with a small number of orders. "View details
[SMM analysis: crude steel output hits a record high in September supply will put pressure on steel prices] according to the data of the National Bureau of Statistics, China's crude steel output in September 2020 was 92.56 million tons, an increase of 10.9% over the same period last year. 781.59 million tons of crude steel output from January to September, an increase of 4.5% over the same period last year. In September, China produced 75.78 million tons of pig iron, an increase of 6.9 percent over the same period last year. From January to September, China produced 665.48 million tons of pig iron, up 3.8 percent from the same period last year. In September, China's steel output was 118.06 million tons, an increase of 12.3 percent over the same period last year. From January to September, steel output was 964.24 million tons, an increase of 5.6 percent over the same period last year. "View details
On October 17, the 22nd meeting of the standing Committee of the 13th National people's Congress formally adopted the Export Control Law (official draft). The Export Control Law includes general principles, control policies, control lists and control measures, supervision and management, legal liability, supplementary provisions and other five chapters, a total of 49 articles. It is understood that the Export Control Law (official draft) will come into effect on December 1, 2020, in addition to traditional dual-use items, military products, and nuclear weapons, other "goods, technologies, services" related to safeguarding national security and interests and fulfilling international obligations such as non-proliferation are also included in the scope of control. "View details
[spot KuaiBao of SMM magnesium ingot] Today, the mainstream price of 999 magnesium ingot factory in Fugu area is 12500-12600 yuan / ton, and the mainstream ex-factory price of 95B magnesium ingot is 12800-130000 yuan / ton. Wenxi area mainstream transaction price 12750-12950 yuan / ton; 95B magnesium ingot mainstream transaction price 13150-13350 yuan / ton. "View details
[SMM high-carbon ferrochromium] on October 19th, the high-carbon ferrochromium market continued to operate smoothly, and the market expectation was suppressed as the October purchase price of high-carbon ferrochromium in large mainstream stainless steel plants was finalized. Coupled with the recent reduction in the price of raw material chromium ore, the support of raw materials is not strong, the mentality of the industry is more cautious, while the purchasing efforts of the lower reaches are not reduced, the latest Castle Peak Group flat plate 304stainless steel opens 14200 yuan / ton, in the short term, the price of ferrochrome is not suppressed by the downstream market, and the price of ferrochromium may continue to operate steadily.
[SMM Manganese Mine] on October 19th, the national manganese ore market was operating weakly and steadily today. The transaction price of 32% of the South African high-speed rail in Tianjin Port and South Africa fell by 0.5 yuan / tonnage to 29.5 yuan / tonnage, and the average price of 45.5% Australian dollar was also reduced by 0.5 yuan / tonnage to 37 yuan / tonnage. As of last Friday, Tianjin Port manganese ore inventory 4.6951 million tons, a weekly increase of about 10%, of which Australia block, Gabon inventory increased significantly, the market pressure on manganese ore inventory on the whole industry chain price pressure is becoming more and more serious.
[the market price of electrolytic manganese continued to operate weakly and steadily at the beginning of the week] on October 19, the spot including tax ex-factory price in the mainstream area of the manganese triangle was around 10100-10300 yuan / ton. at the beginning of this week, the overall transaction of spot resources of electrolytic manganese in the southern region was not smooth, and in addition, the steel move in October was coming to an end, and domestic demand decreased. It is difficult to support the development of manganese prices in the later stage. In terms of overseas procurement, most operators said that they would wait and see the bidding plan for electrolytic manganese in November by Posco, However, the recent frequent exchange rate fluctuations, the final pricing may be affected by this. Last week, according to SMM market understanding, the National Metal Manganese Alliance was established to guide the operation of manganese prices, so the supplier's awareness of shipping is enhanced, but the release of demand at home and abroad is on the low side. SMM believes that the rise and fall of manganese prices still need to wait and see market supply and demand in the short term.
[SMM Shanghai hot volume transaction tracking] affected by the lower-than-expected performance of real estate data, thread and iron ore futures fell sharply, hot rolls were dragged down by this, the overall market sentiment was sluggish, terminal purchasing enthusiasm decreased, merchants' transactions were not smooth, and spot prices continued to decline. Up to now, the cumulative reduction of Shanghai hot rolling is 20-30 yuan / ton, the mainstream is 3870-3890 yuan / ton, vertical and horizontal, Yanshan Iron and Steel-5.5-3870-3880, Benxi Iron and Steel, Anshan Iron and Steel-5.5-3880-3890.
[statistics Bureau: China's crude steel production increased 10.9% in September compared with the same period last year] according to data released by the National Bureau of Statistics on October 19, China's crude steel output in September 2020 was 92.56 million tons, an increase of 10.9% over the same period last year. Crude steel output from January to September increased by 4.5%. In September, China produced 75.78 million tons of pig iron, an increase of 6.9 percent over the same period last year. From January to September, China produced 665.48 million tons of pig iron, up 3.8 percent from the same period last year. In September, China's steel output was 118.06 million tons, an increase of 12.3 percent over the same period last year. From January to September, steel output was 964.24 million tons, an increase of 5.6 percent over the same period last year.
[the Baltic dry bulk index fell for the ninth day in a row due to lower rates for large ships.] driven by lower capesize and Panamanian rates, the Baltic dry bulk index fell 4.6 or 68 points to 1409 on Monday. it was the ninth consecutive session of decline and the lowest level since Sept. 22. The capesize index fell 7.8%, or 187 points, to 2219, while average daily profit fell $1550 to $18402, also falling for the ninth day in a row. The Panamanian shipping index fell 1.89 per cent, or 25 points, to 1298, with average daily profit down $225to $11681.
Important news of metals and industry
According to reports, wage negotiations between Lunding Mining and the Candelaria AOS union broke down, and union leaders said they would start a strike on Tuesday if they did not get a new wage agreement on Monday, the last day of the mandatory mediation period. As early as October 8th, another Candelaria copper union went on strike. In response, Lunding Mining announced on Sunday that it would suspend operations at the Candelaria copper mine and revoke the mine's production guidelines and cash cost indicators for the current year. "View details
[Chujiang New Materials received about 48.4 million of government subsidies] Anhui Chujiang Science and Technology New Materials Co., Ltd. and its subsidiaries recently received a total of 48402986.94 yuan in government subsidies related to revenue, accounting for 10.50% of the company's latest audited net profit belonging to shareholders of listed companies. "View details
[Chinalco International: the amount of newly signed contracts in the third quarter was 5.355 billion yuan less than the same period last year.] Chinalco International disclosed its main operating data in the third quarter of 2020. In the third quarter of 2020, the company signed 1684 new contracts, with a new contract value of 5.355 billion yuan, a decrease of 63.92 percent over the same period last year. From January to September 2020, the company signed a total of 4484 contracts, with a total contract amount of 23.509 billion yuan.
[Henan Qinyang carbon Co., Ltd. signed a strategic cooperation agreement with Guizhou Xingren Denggao New Materials Co., Ltd.] according to SMM research, Henan Qinyang carbon Co., Ltd. and Guizhou Xingren Denggao New Materials Co., Ltd. signed a strategic cooperation agreement on October 19th. The two sides will set up a 600000-ton pre-baked anode project in Guizhou, which is divided into two construction periods, and the first phase of 300000 tons is expected to be put into production in February next year.
[Wanfeng Owei: the design and development of magnesium alloy products for Evergrande New Energy vehicles is advancing steadily] Wanfeng Owei said on the interactive platform that the main customers of the company's aluminum and magnesium alloy products are passenger car mainframe factories. Dacro coating business customers are mainly automotive parts, wind power and rail transit markets, Evergrande new energy vehicle magnesium alloy product design and development is making steady progress.
[medium tungsten high-tech: the controlling shareholder of China Minmetals structural Adjustment Corporation will be changed to Minmetals shares] China Tungsten High-tech announced on the evening of October 19 that Hunan Nonferrous Co., Ltd., the company's controlling shareholder, intends to transfer its 536 million shares in the company by means of private agreement transfer to Minmetals shares. The transaction price is 6.90 yuan per share, and the transfer price of shares is 3.7 billion yuan. This acquisition is an internal structural adjustment implemented by China Minmetals in accordance with the overall arrangement. if the transaction is completed, Hunan Nonferrous Co., Ltd. will no longer hold shares in the company, the controlling shareholder of the company will be changed to Minmetals shares, and the actual controller of the company will still be China Minmetals.
[medium color Pinggui titanium dioxide factory automation upgrade to help reduce cost and increase efficiency] recently, in the implementation of automation project upgrading, the gate valve of the freezing position in the acidolysis workshop was upgraded to electric gate valve. at the same time, the functions of automatic temperature detection and remote display of titanium liquid are added, realizing remote automatic operation, greatly reducing the workload, realizing the reduction of 4 staff, and saving 240000 yuan in labor costs annually. "View details
[gold molybdenum group molybdenum product sales rose 3.1% from January to September compared with the same period last year] in the case of increasing competition in the domestic market, gold molybdenum group continues to optimize furnace charge customers and consolidate the industry position. From January to September, furnace charge product sales are the same as the same period last year. Due to the influence of the epidemic situation abroad, the demand for foreign economy and chemical products remains in the doldrums. Jin Mo Group has stepped up its efforts to develop the domestic market. Domestic sales in the first three quarters increased by 34% compared with the same period last year, although foreign sales decreased somewhat. However, the overall sales volume of chemical products increased by 8.8% compared with the same period last year. "View details
[steel production in Latin America rose 7.9 per cent in August] A report released by the Latin American Steel Association ((Alacero)) shows signs of a gradual recovery in Latin America after being affected by the novel coronavirus epidemic. In this context, data related to crude steel production in August maintained a positive trend, reaching 4.807 million tons, an increase of 7.9 per cent compared with the previous month (July 2020). "View details
[UK Free Steel may acquire Germany's ThyssenKrupp Steel] British Free Steel Group, part of the GFG alliance, announced that it had made an indicative offer to acquire Germany's ailing ThyssenKrupp steel division. Liberty steel said the possible merger would form a strong team to meet the challenges facing the European steel industry and accelerate the transition to green steel. But IGMetall, the German metal workers' industry association, opposes a potential acquisition of ThyssenKrupp's steel division because it could lead to job losses. The union also recently urged the German government to help rescue the steel sector. "View details
[SMB-Winning enters Simandou iron ore mining in Guinea] the chairman of, Societe Miniere de Boke said recently that SMB-Winning plans to put into production in Block 1 and Block 2 of the large Simandou (Simandou) iron ore mine in Guinea by 2025. This is a strict schedule for large-scale mining and infrastructure projects. "View details
[Tianqi Lithium Industry: expected loss of 1.36 billion yuan to 2.27 billion yuan narrowed] Tianqi Lithium Industry disclosed three quarterly reports on the evening of Oct. 19, with revenue of 2.427 billion yuan in the first three quarters, down 36.09% from the same period last year, and a loss of 1.103 billion yuan. The company expects to lose 1.36 billion yuan to 2.27 billion yuan in 2020, compared with a loss of 5.983 billion yuan in the same period last year. Tianqi Lithium Industry suggested that as the company's net profit in 2019 is negative, if the company's operating results cannot turn losses into profits in 2020, there is a possibility of delisting risk warning after the company's annual report is disclosed.
[CISA he Wenbo stressed: attention should be paid to the recovery and utilization of scrap resources from the perspective of resource strategy] he Wenbo said that at present, there are many problems in the recycling, processing and utilization of scrap steel in China that need to be solved urgently, mainly in the following three aspects: import restrictions, poor tax order, and non-standard industry. We should give full play to the reusable recycling function of iron and steel materials, maximize the partial substitution of iron ore by international and domestic scrap and other iron resources, and gradually make it one of the reliable guarantee channels of iron and steel production resources. "View details
[Rio Tinto's third-quarter mine copper production fell 18% year-on-year to 129600 tons] recently, Rio Tinto released its third-quarter production report, which showed that the company's mineral copper in the third quarter totaled 129600 tons, down 18% from the same period last year and 2% from the previous quarter. In the first three quarters, the company's mineral copper totaled 395400 tons, down 10% from the same period last year. "View details
[Baotou Steel Co., Ltd.: steel exports affected by the epidemic have dropped significantly] Baotou Steel Co., Ltd. said on the interactive platform that due to the impact of the epidemic, the company's steel exports have dropped by a large margin. Earlier, according to the Bureau of Statistics, China's steel exports were 3.828 million tons in September and 3.678 million tons in August. Month-on-month increase of 4.09%, a decrease of-30.78% over the same period last year. A total of 40.327 million tons of steel were exported from January to September 2020, a decrease of 20.17% over the same period last year. "View details
[iron and steel] Angang Lianzhong's first batch of stainless steel futures warehouse receipts were generated, a total of two warehouse receipt numbers, with a total weight of 114.893 tons, 57.379 tons and 57.514 tons respectively. It is understood that, different from other registered warehouse receipts, this is the first steel factory with a prospective team, which is registered by itself without entrusting registration.
[TD Optics: plans to build an annual production line of 1 million square meters of graphene film] it was announced on the evening of October 19th that the company established a wholly-owned subsidiary, TD Superconducting Technology, and used its own capital of 48.8 million yuan to build an additional 1 million square meters of graphene film production line in Yongkang plant, and the final investment shall prevail. The project has been gradually put into production since April 2021, with a total profit and tax of 107 million yuan (including tax) and an additional business income of 400 million yuan (including tax) in the year after sales.
[Geodian shares: restrictions on Australian coal imports have no impact on the company] Gepco said on the interactive platform that the company's imported coal purchases are mainly from Russia, Indonesia and the Philippines, and that it did not purchase Australian coal this year. Restrictions on Australian coal will not affect our company. Heating in Northeast China has begun, and the company will reasonably control fuel costs and ensure operational stability.
Macro focus
[national Development and Reform Commission deployment and implementation of new business type's new model to lead the new type of consumption to speed up development] in order to thoroughly implement the "opinions of the General Office of the State Council on using new business type's new model to lead the new type of consumption to speed up development", the Department of Employment income Distribution and consumption of the National Development and Reform Commission held a video conference to specialize in the deployment of related work.
[China Business Environment report 2020 "officially released by the National Development and Reform Commission] in order to systematically introduce the evaluation methods of China's business environment and comprehensively demonstrate the positive results of optimizing the business environment, we will better summarize and promote the typical experiences and practices of various regions and departments in optimizing the business environment, and give full play to the positive role of China's business environment assessment-oriented reform. the National Development and Reform Commission organized and compiled the China Business Environment report 2020. It was published recently.
Overnight shibor was 2.1870%, up 17.00bp. Seven-day shibor was at 2.2300%, up 3.10bp. Three-month shibor was 2.8030%, up 1.70bp.
Bureau of Statistics: in September, the added value of industries above scale increased by 6.9% in real terms over the same period last year, 1.3% faster than that in August; retail sales of consumer goods totaled 3.5295 trillion yuan, up 3.3% from the same period last year. From January to September, national fixed asset investment (excluding farmers) totaled 43.653 trillion yuan, an increase of 0.8 percent over the same period last year, with the growth rate changing from negative to positive for the first time this year, falling 0.3 percent from January to August. Private fixed asset investment totaled 24.3998 trillion yuan, down 1.5 percent, 1.3 percentage points lower than in January-August.
Shanghai Branch of the Central Bank and Shanghai Commerce Commission: issue a circular on matters related to defining the free trade account to support the development of offshore economic and trade business in Shanghai. The Shanghai Municipal Commerce Commission regularly promotes the "list of offshore economic and trade enterprises" to the central bank Shanghai. The Shanghai Branch of the Central Bank instructs commercial banks that have established separate accounting units in Shanghai to provide cross-border financial services, including international settlement and trade financing, for offshore economic and trade business carried out by listed enterprises through free trade accounts in accordance with international rules.
Federal Reserve Chairman Colin Powell: the Federal Reserve has not yet decided to issue digital money. It is important for the Fed to be at the forefront of payment technology. At present, there are difficult policy and operational problems in the digital currency of the central bank. There is a need to work with the private sector on the central bank's digital currency.
[three-month dollar Libor extends decline to record low] three-month dollar London interbank offered rate continued to fall on Monday, falling 0.975 basis points to an all-time low of 0.20863%. The spread between London Interbank offered rate (LIBOR) and overnight index swaps (LIBOR-OIS) narrowed to 12.7bp, the lowest since Feb. 25. Gennadiy Goldberg, a strategist at TD Securities, said the decline reflected little financial pressure by the end of the year, a view supported by the central bank's measures.
Terminal information
[China Automobile Association: from January to September, the added value of the automobile manufacturing industry increased by 4.4% compared with the same period last year] according to the China Automobile Association, the added value of the automobile manufacturing industry increased by 16.4% in September compared with the same period last year, which is 9.5 percentage points higher than that of large-scale industrial enterprises nationwide in the same period. From January to September, the added value of the automobile manufacturing industry increased by 4.4% compared with the same period last year, an increase of 1.6 percentage points compared with January-August.
[Tesla speeding up the construction of a super factory in Texas the first pillars have been erected on the site] Electric carmaker Tesla has reportedly accelerated the construction of its super factory in Texas. Recent pictures and videos of the factory show that the first pillars of the factory have been erected on the site. It is reported that the factory is currently under construction and has begun to recruit people. Earlier, foreign media said that the construction speed of the factory was incredible and seemed to catch up with or even exceed the speed of Tesla's Berlin super factory. According to the report, the "first test run" of the company's Texas superplant is scheduled for December 30, 2020, and the "first substantive completion" is scheduled for May 1, 2021.
[statistics Bureau: the driving role of new infrastructure and new consumption such as 5G construction and rail transit is strengthening] Liu Aihua, spokesman for the National Bureau of Statistics, said that online retail sales of physical goods increased by 15.3% in the first three quarters compared with the same period last year. The growth rate is 1 percentage point faster than that in the first half of the year, accounting for 24.3% of the total retail sales of consumer goods. The driving role of new infrastructure and new consumption such as 5G construction and rail transit is also increasing. In September, urban rail vehicle production increased by more than 50% compared with the same period last year, smartwatch production increased by more than 70%, and new energy vehicle production increased by more than 50%. Generally speaking, the driving effect of these new economies on the overall economy is very significant.
As record low interest rates continue to boost sales and demand prospects, the US homebuilder confidence index rose to an all-time high of 85 in October, with market expectations of 83, marking the sixth month in a row that the builder confidence index exceeded market expectations. Since the easing of the epidemic blockade, the housing market has been a bright spot in the US economy. Falling mortgage rates are good for buyers who are interested in buying big houses or moving to the suburbs. However, housing inventory is still low, leading to high house prices. In addition, shortages of some construction materials and labor may limit the popularity of the housing market, while the impasse in congressional stimulus negotiations is also likely to slow the growth momentum of the housing market.
[Quanfeng Automobile: plans to build a new European production base for intelligent manufacturing of auto parts] Quanfeng Automobile announced that the company intends to set up a wholly-owned subsidiary in Mishkorz, Hungary to invest in the construction of an European production base for intelligent manufacturing of auto parts. The total investment of the project is expected to be no more than 60 million euros, of which the fixed asset investment is about 51 million euros, which is mainly used for the new production line of new energy automobile parts and steering system parts. after the completion of the project, the annual production capacity is expected to increase by 2 million pieces.
