[macro outlook] pay attention to the initial value of Markit manufacturing PMI in the United States and Europe in April
[overnight market] the outer disk metal collectively closed down. Biden's tax increase plan reported that US stocks fell across the board.
Overnight outer disk metal closed down, Len Zinc fell 0.76%, Lunni fell 1.48%. Shanghai zinc fell 0.44%, the short-term fundamentals of zinc ingot shortage has not changed, smelter costs also provide basic support for zinc prices, and there are still purchases downstream of low prices, it is expected to continue to go to the warehouse this week.
The dollar rose on Thursday as U.S. stocks suffered their biggest one-day fall in five weeks as President Joe Biden was said to be considering nearly doubling the capital gains tax rate, dampening risk appetite. Sources say US President Joe Biden will propose to raise the marginal income tax rate for individuals earning more than $1 million from 37 per cent to 39.6 per cent and nearly double the capital gains tax rate to 39.6 per cent. After the news, the market's safe-haven buying of the dollar further strengthened the dollar's rally.
All three major indexes of US stocks closed down, with the Dow closing down 322.40 points, or 0.94%, at 33814.91; the S & P 500 closed down 37.65 points, or 0.90%, at 4135.77; and the Nasdaq composite index closed down 131.81 points, or 0.94%, at 13818.41.
In crude oil, oil prices rose slightly and signs of stronger demand in major economies offset market concerns about outbreaks in countries such as India. Analysts believe that the current demand has not exceeded expectations, and the market will be hesitant until the economy reopens and travel and economic activity picks up again.
In terms of precious metals, gold prices fell on Thursday, with spot gold falling below 1780, a new low, as the dollar rose and better-than-expected jobless claims data reduced gold's safe-haven attractiveness.
Yesterday, A-share size index differentiation, individual stocks rose and fell by half, banks, spirits, construction machinery and other weight plates are relatively low, medical and beauty concept stocks rose after differentiation, the plate as a whole remained strong, driven by Qitian science and technology in the afternoon, the digital currency plate is strong across the board, overall, market sentiment has been repaired, but the rate of explosion is on the high side, the persistence of the plate is weak, and the power of funds to catch up is insufficient. On the market, steel, digital currency, semiconductors, medical beauty and other sectors led the increase, while airport shipping, banking, Hainan free trade zone, paper and other sectors led the decline. As of the close, the Prev index fell 0.23% to 3465 points, the Shenzhen Composite Index rose 0.41% to close at 14209 points, and the gem index rose 0.77% to close at 2939 points. Shanghai shares had a net outflow of 2.184 billion, while Shenzhen stocks had a net inflow of 587 million.
LME inventory
Macro focus
[Xi Jinping: supporting qualified localities and key industries and key enterprises to take the lead in reaching the peak] State President Xi Jinping pointed out that China has incorporated carbon peak and carbon neutralization into the overall layout of the construction of ecological civilization, and is formulating a carbon peak action plan. we will carry out extensive and in-depth actions to support qualified localities, key industries and key enterprises to take the lead in reaching the peak. China will strictly control coal and power projects, strictly control the growth of coal consumption during the 14th five-year Plan period, and gradually decrease during the 15th five-year Plan period. In addition, China has decided to accept the Kigali Amendment to the Montreal Protocol, strengthen the control of non-carbon dioxide greenhouse gases, and will launch online trading in the national carbon market.
[Russian President Vladimir Putin proposed to hold the summit of the five permanent members of the UN Security Council, and China responded: support] Foreign Ministry spokesman Wang Wenbin said that China supports the initiative of holding the summit of the five permanent members of the UN Security Council. We believe that under the current situation, it is of great significance for the leaders of the five permanent members to strengthen coordination on the international situation and major issues, and to promote international cooperation in the fight against epidemic, to safeguard multilateralism and post-war international order, to safeguard the authority of the United Nations and the Security Council, and to maintain international peace and stability.
[Australia tore up the "Belt and Road Initiative" agreement signed between Victoria and the Chinese side: the Chinese side: urge the Australian side to immediately rescind the wrong decision] on the 21st, the Australian federal government tore up the "Belt and Road Initiative" agreement signed between the Victorian government and the Chinese side on the grounds of the country's Foreign Relations Act. Media analysts believe that this move may lead to the further deterioration of Sino-Australian relations. In response, Chinese Foreign Ministry spokesman Wang Wenbin said on the 22nd that Australia's move is a "reversal of history" and aggravates the already difficult Sino-Australian relations. The Chinese side has made solemn representations to the Australian side, urging the Australian side to immediately reverse the wrong decision, otherwise the Chinese side will fight back firmly and forcefully.
[spokesman for the legal work Commission: the draft Futures Law is to be submitted to the current standing Committee for deliberation] Zang Tiewei, spokesman for the legal Affairs Committee of the NPC standing Committee, said that the draft Futures Law was drafted by the NPC Financial and Economic Committee. it has been examined and adopted at the 44th plenary session of the Financial and Economic Committee and is to be submitted to this standing Committee for deliberation. The main content includes defining the supervision and management of the futures market.
ECB President Christine Lagarde: global demand recovery supports the economy, the euro zone economy is likely to contract again in the first quarter and return to growth in the second quarter; inflation expectations are low and inflation rebounds are due to temporary factors. Headline inflation is likely to rise in the coming months; reiterate the ultra-loose monetary policy position that negative interest rates are an effective tool to provide stimulus and will not be controlled by the yield curve; Will continue to monitor the development of the foreign exchange market, the ECB does not target the exchange rate, and will closely monitor the exchange rate of the euro.
Today's focus
[SMM data: a brief introduction to the import and export of unwrought aluminum alloy in China in the first quarter of 2021] according to the latest customs data, the import of unwrought aluminum alloy in March 2021 was 78100 tons, a decrease of 6.2% over the same period last year and an increase of 36.2% compared with the previous year. From January to March, imports totaled 219000 tons, an increase of 8.4 percent over the same period last year. In terms of exports, the export volume of unwrought aluminum alloy in March 2021 was 17900 tons, a decrease of 52.3 percent over the same period last year and an increase of 51.0 percent over the previous month. Exports totaled 48300 tons from January to March, down 10.5 percent from the same period last year. (based on eight-digit Customs Code: 76012000) "View details
[aluminum prices return to strong recycled aluminum with insufficient upward power] Aluminum prices rose 140 yuan / ton yesterday, recovering all the decline in the week and resuming the rising momentum, while recycled aluminum prices are still stable and weak. In terms of domestic prices, the quotations of large domestic recycled aluminum enterprises remain unchanged at 17650-18150 yuan / ton; for small and medium-sized plants, the quotation remains strong and the overall price remains unchanged at 17600-17800 yuan / ton. In terms of import and export, the transaction price of ADC12 is currently maintained at around 17200 yuan / ton, and the import real-time window loss is 400 yuan / ton. At present, the price of recycled aluminum is still relatively high, the mood of receiving goods downstream is not active, and the purchase of rigid demand is dominated by rigid demand. in addition, the feedback of enterprises shows that orders are beginning to weaken, the transaction is slightly lighter, the driving force of recycled aluminum and rising aluminum prices is insufficient, and the cost side is also under pressure. In the near future, the situation of "weak supply and demand" in the recycled aluminum market remains unchanged, and short-term prices are mainly stable. "check the details.
[SMM analysis: what about the market after the volume and price of pre-baked anode export increased in the first quarter? The total amount of domestic pre-baked anode exports reached 387600 tons in the first quarter of 2021. The total domestic pre-baked anode exports performed well in the first quarter of 2021, rising slightly compared with previous years, and the export unit price from January to March all rose sharply. Among them, the unit price of pre-baked anodes exported to the United Arab Emirates in March reached a high price of US $695 / ton. "check the details.
[aluminum bar spot daily review: aluminum bar processing fee under pressure is not high] yesterday, the mainstream domestic aluminum bar market processing fee was under pressure, and the price center of gravity moved down 20-40 yuan / ton, of which the Wuxi market processing fee was reduced by 30-40 yuan / ton, the downstream receiving enthusiasm was not high, and the holder reflected that it was difficult to ship the goods. The processing fee of aluminum bar in Foshan market in South China was reduced by 20-30 yuan per ton, and the shipper was active. But the actual transaction is generally "check the details."
[national Aluminum Bar inventory Weekly Review: aluminum bars slightly increased inventory last week, down 2500 tons to 162800 tons month-on-month] the output of aluminum bars market increased slightly last week from 5700 tons to 62800 tons. The enthusiasm of downstream demand has warmed up, and the mood of receiving goods has increased under the guidance of rigid demand. At present, the inventory of aluminum bars is slightly lower than the previous month by 2500 tons to 162800 tons, the level of removal is not high, the decline is only 1.5 per cent. Aluminum prices continue to break through highs this week, reaching 18180 yuan / ton yesterday. Although the downstream demand is booming, it is still mainly buying for bargain-seeking rigid demand, and the fear of heights still exists. "check the details.
[SMM data: weekly reduction of domestic electrolytic aluminum inventory by 43000 tons to 1.14 million tons] April 22, SMM statistics domestic electrolytic aluminum social inventory of 1.14 million tons, weekly reduction of 43000 tons, Wuxi, the South China Sea contributed the main decline.
[SMM survey: can there be a mismatch between supply and demand of galvanizing in the first half of the year? How is the performance of each sector?] from the operating rate of the old sample, we can see that the galvanizing consumption level this year is at the highest level in recent years, while from the month-on-month data, the effectiveness of our new sample will be higher, with a production capacity of 37.093 million tons and enterprise coverage as high as 80%. Among them, the galvanizing output in March was 2.5236 million tons, the operating rate was 81.64%, and the output is expected to increase to 2.6285 million tons in April. Operating rate increased by 3.39% to 85.03% month-on-month. "View details
[SMM analysis: ore imports exceeded expectations in March and Peruvian zinc ore shipments returned to a high level] according to the latest customs data, imports of zinc concentrates in March 2021 were 361740 tons (physical tons), an increase of 92365 (physical tons) or 34.29% month-on-month, an increase of 54734 tons (physical tons) over March 2020, and an increase of 17.83% over the same period last year. From January to March of 2021, the cumulative import of zinc concentrate reached 1.0415 million (physical tons), an increase of 4.17% over the same period last year.
SMM brief comment: what do you think of the operating space after Shanghai Nickel has been down for days and lost 120000? At present, the macro mood is difficult for the nickel price to continue to empower, the domestic pure nickel inventory is low, but it is still not the focus at present, and the nickel price trend is highly related to the new energy index. New energy is growing rapidly, but after the supply and demand pattern is broken, the price of nickel is difficult to get a high valuation. Pure nickel accounts for a large proportion of new energy in 2021, and the current consumption is basically up to expectations. With the accelerated construction of the Ferro-nickel project in Indonesia, the return flow of nickel ore in the Philippines increases after the rainy season, and the supply relief of Ferro-nickel will weaken; the power restriction of high-carbon ferrochromium in the north is alleviated, and it is expected that poor long-term consumption will further collapse the cost of stainless steel. SMM expects this week's Shanghai Nickel operating space of 119000 to 124,000 yuan / ton. "check the details."
[sudden: a cargo ship carrying a nickel mine ran aground in North Suriname, Philippines] according to recent reports, the Philippine Coast Guard (PCG) said on Tuesday that it was searching and rescuing 20 missing crew members carrying a nickel mine stranded in the town of Marimono on the southern island of Mindanao. Eighteen crew members who abandoned the ship were still in the life raft when contact was lost on Tuesday, the report said. The ship, carrying 20 crew members, carrying nickel mines and about 2000 litres (530gallons) of diesel fuel, has broken down in the nearby town of Jabonga in (Agusan del Norte), North Agusan. "check the details."
[nickel pig iron trading daily review: nickel iron market weak stable operation transaction activity weakened] 22, SMM high nickel pig iron 1067.5 yuan / nickel point (including factory tax), the settlement price is the same as the previous trading day, Indonesian nickel pig iron 1060-1075 yuan / nickel point (including tax) the average price of 1067.5 yuan / nickel point, the settlement price is the same as the previous trading day. The activity of trading in the ferronickel market has declined, the ferronickel market is weak and stable, the recent market supply is sufficient, and the upstream mineral price has declined, and the current psychological price of iron and nickel mine procurement has fallen to 1.5% 60 US dollars. If the mainstream transaction price falls to this position, the cost of nickel and iron moves down, the price of stainless steel is also weak and stable, and the price of nickel and iron may still decline slightly.
[MMi iron ore port spot index report (22)] yesterday even iron narrow shock, the port spot market early quotation basically maintained stability. Some merchants are optimistic about the future, and they are less willing to sell and ship goods today, while some merchants buy goods at bargain prices, and the overall market trading atmosphere is weakening today. The turnover of PB powder in Shandong area is 1235-1240 yuan / ton, which is up and down from yesterday. "check the details.
[hot volume spot market brief review] on the 22nd, the overall demand side is more afraid of heights, some merchants ship goods at low prices, a small amount of goods are received by large households in the mainstream market, and only rigid demand purchases are given priority to in the terminal, and the overall transaction atmosphere is weak. Afternoon trading slightly lower, spot quotations fell, trading further weakened. "check the details."
[SMM thread inventory: inventory deceleration growth, signs of weakening fundamentals] the spot market resonated higher this week. At present, the national average price of rebar is 5046.6 yuan / ton, up 26.5 yuan / ton from last week. At the beginning of the week, the strength of the raw materials led to the strong operation of the black system, and the news of production restrictions in the middle of the week spread frequently, boosting market confidence and maintaining high prices. In terms of inventory, as of April 22, the total national inventory of building materials was 13.0974 million tons, with a month-on-month ratio of-4.6% (previous value-6.3%) and-12.9% year-on-year (previous value-14.7%). The overall trend of destocking has not changed, but the month-on-month growth rate has declined, which is slightly insufficient compared with the same period last year.
[SMM hot coil inventory: lower than expected volume price upward resistance increased] this week's total hot-rolled coil inventory of 3.3936 million tons, compared with last week-41300 tons, month-on-month-1.2%, year-on-year-37.74%. The decline in total inventory of hot volumes narrowed sharply this week, and the data performance was weak. Hot rolling stock 2.4863 million tons, compared with last week-31600 tons, month-on-month-1.43%, year-on-year-37.99%. Spot prices fluctuated in a narrow range during the hot volume period this week, and market differences intensified, resulting in a marked weakening of transactions and poor delivery. "check the details."
[SMM analysis: Hebei production restrictions are tightened again, steel prices hit a new high] according to SMM research, on April 22nd, SMM counted the blast furnace operating rate of 85.8%, rising 1.3% month-on-week and 1.3% month-on-month. This week, the "production Regulation Plan for key Industries in Handan City in the second quarter of 2021" was released to evaluate the green performance of key industries in the city, such as iron and steel (including independent pellets), coking, cement, foundry and so on. According to the rating results, specific production control measures are carried out by industry, sub-region and sub-enterprise. In addition, Tangshan Fengrun district billet adjustment strip mill will also stop production on the evening of April 21, affected by this, thread, hot coil pull up sharply, hit a new high. "check the details."
[SMM analysis: 97 silicon trading price rises] 97 silicon prices have continued to decline since late March. The ex-factory tax price of 97 silicon with iron content less than 1.5 fell from 11400 yuan / ton to 10400 yuan / ton in mid-April, a decline of about 1000 yuan per ton. After a week of stable prices, 97 silicon manufacturers generally responded to an increase in customer inquiries and transactions became active over the weekend. Up to this week, 97 silicon factories hold more orders ranging from 10 to 30 days, and the quotation has also been raised after the spot has been reduced. On the 22nd, 97 silicon factories quoted prices at 10500-10700 yuan / ton. "check the details."
[SMM analysis: the gap of Q2 inventory of domestic cobalt raw materials was slightly alleviated in March.] in March 2021, China imported 8200 tons of cobalt raw materials, an increase of 29% from the previous month and a decrease of 3% from the same period last year. In March, cobalt wet smelting intermediates imported 6800 tons of metal (converted at 27% grade), an increase of 24% from the previous month and a decrease of 9% from the same period last year. In March, the average import price of cobalt wet smelting intermediates was 42247 US dollars per metal ton, up 14 per cent from the previous month and 60 per cent year-on-year. From January to March, the average import price of intermediate products for cobalt hydrometallurgy in China was 37689 US dollars per metal ton, up 51 per cent from the same period last year. This paper discusses the logistics situation in South Africa, the stock expectation of domestic cobalt raw materials in the second quarter, the late trend of cobalt price and so on.
[SMM magnesium ingot spot KuaiBao: the rush to buy magnesium prices continues to rise strongly] magnesium prices continued to rise a few days ago. The transaction price in Fugu area has reached 16700-16800 yuan / ton. Even if the current price has reached a two-year high, the market still has certain expectations for the future transaction price of new orders. At present, the spot supply in the market continues to be tight, and some factories say that they have entered the production mode of scheduling and some orders have been received in mid-May. Downstream markets, especially traders, have more procurement needs. "check the details.
[stainless steel factory plans to reduce production manganese price temporarily wait and see] on the 2nd, the spot factory price including tax in the mainstream area of the manganese triangle is around 16200-16400 yuan / ton, which is temporarily stable than yesterday's average price; the spot factory price including tax in Guangxi is around 16300-16500 yuan / ton, stable than yesterday's market price. During the week, 200 series steel mills released the information of production reduction and shutdown. SMM predicted that the supply of steel market from April to May may be significantly lower than that of April, but the demand for raw material manganese from terminal reduction did not have much impact on the price trend in the middle and late April. At present, there is no spot quotation in the mainstream environmental supervision of electrolytic manganese in China, but the price of manganese under the support of rigid demand may stop at 16000-16300 yuan / ton by the end of April. at present, there is no spot quotation in the domestic mainstream environmental supervision of electrolytic manganese, but the price of manganese may stop falling at the end of April. SMM believes that the short-term bearish factor of manganese price is stronger and the increase of manganese price is limited, and the weakly stable finishing is the main factor.
[SMM analysis: there is still room for upside in the price of lithium hexafluorophosphate] prior to this, the price of lithium hexafluorophosphate, an important raw material in the electrolyte, has been raised by 30,000 yuan per ton, while the price of international customers has also increased across the board, an increase of about US $4500 per ton. As we all know, the raw materials of electrolytes can be divided into three categories, namely, solutes, solvents and functional additives. Lithium hexafluorophosphate is the main raw material in the solute. Lithium hexafluorophosphate, as one of the most important core raw materials of the electrolyte, accounts for a very high proportion in the electrolyte. According to SMM statistics, in the current major electrolyte enterprises, the material cost of lithium hexafluorophosphate alone accounts for nearly 40% of the total electrolyte cost.
Important news of metals and industry
[big talk: carbon neutralization affects copper consumption, rising discounts and copper price trends] during the 16th China International Copper Industry chain Summit, the dialogue on the entry of big names in the copper industry hosted by CEO Fan Xin, a non-ferrous network in Shanghai, triggered deep thinking among people in the copper industry. Chen Yunian, deputy general manager of Jiangxi Copper Co., Ltd., Dong Feng, general manager of Shenzhen Qianhai Joint Trading Center, Li Zhihua, general manager of Shanghai Jingsheng Metal Materials Co., Ltd., and Xiong Wanlong, general manager of Oriental Group products Co., Ltd., shared their views on hot topics such as carbon peak, carbon neutralization, copper consumption, rising discount and copper price trend.
[copper Summit | SMM: expects LME copper prices to run at 7600-9500 US dollars / ton in the middle of the year is the key point of the game. SMM believes that the shortage of copper concentrate has a limited impact on the supply of refined copper, and with the new expansion and production in 2021, the superimposed overseas supply has recovered from the epidemic, and it is optimistic that the growth of global copper production will climb to 7% in 2021. It is necessary to guard against the interference of environmental protection and carbon emission requirements on smelting projects and in-production capacity. The country and various regions actively promote carbon peak and carbon neutralization, bringing about the rapid growth of copper consumption in the field of new energy.
[workers at the Escondida copper mine in Chile will start new contract negotiations in June or pose a threat to copper supplies.] BHP Billiton said on Wednesday that workers at the Escondida copper mine in northern Chile, the world's largest copper mine, would begin new labor agreement negotiations in June. Upcoming wage negotiations could pose a new threat to copper supply, which is close to its highest level in a decade. The company's current contract with the operator and maintenance staff union (Operators and Maintenance Staff Union) will expire on August 1st. If management and union negotiators fail to agree on a new agreement by that date, the powerful union, which has 2281 members, could go on strike. For the past two decades, Escondida workers have been one of the most radical workers in Chile. The strike at the giant open-pit mine in March 2017 lasted 43 days, making it one of the longest strikes in the history of the Chilean mining industry.
[Chilean Environmental Court questioned the impact of Norte Abierto Copper and Gold Mine on Local Aborigines] A Chilean environmental court said on Wednesday that it had ordered a reassessment of the Norte Abierto gold and copper mining project because of concerns that heavy traffic and increased water use might disrupt the lives of nearby indigenous communities. The project, located in the northern part of Atacama, Chile, is a joint venture formed in 2017 by the merger of the Cerro Casale project of Barrick Gold (Barrick) and the Caspiche project of Newmont Gold (Newmont Goldcorp). The court stated that it decided to review the joint venture because of fears that it might "significantly change" the lifestyle and customs of the Cora indigenous communities living in the Joquila Valley and its tributaries.
[global copper market oversupply 31600 tons from January to February of WBMS:2021] the latest report released by the World Bureau of Metals Statistics ((WBMS)) shows that the global copper market has an oversupply of 31600 tons from January to February in 2021, after a supply shortage of 983000 tons in 2020. The reported inventory at the end of February 2021 is 30,000 tons higher than the level at the end of December 2020. Net delivery from the LME warehouse was 31600 tons, while COMEX inventory decreased by 7500 tons. Inventory in Shanghai increased by 72900 tons from January to February.
[basic balance of supply and demand in the global primary aluminum market from January to February of WBMS:2021] the latest report released by the World Bureau of Metal Statistics (WBMS) shows that the supply gap of the global primary aluminum market from January to February in 2021 is less than 1000 tons, while there is a supply surplus of 840000 tons in 2020. The demand for primary aluminum from January to February was 11.32 million tons, an increase of 855000 tons over the same period in 2020. The total report bank increased in January, then fell in February, and inventory levels at the end of February were 85000 tons higher than in December 2020. The storage capacity in Shanghai increased in January and February, and the total amount at the end of February was 109000 tons higher than that in December 2020. The LME warehouse stood at 1.3168 million tons at the end of February and 1.3405 million tons at the end of 2020.
[Shunbo Alloy: net profit in the first quarter increased 135.77% over the same period last year] Shunbo Alloy announced a few days ago that the company's net profit in the first quarter of 2021 was 78.5 million yuan, an increase of 135.77% over the same period last year. The operating income increased by 116.13% over the same period last year, and the operating cost increased by 115.01% over the same period last year, mainly because sales decreased in the first quarter of 2020 due to the epidemic. The company's Hubei Shunbo production base was put into trial operation in 2021, and the overall sales increased.
[Nanshan Aluminum Rail Transit Aluminum profile overseas Project New Section passed the first Inspection] recently, Nanshan Aluminum Company has passed the customer's first inspection of multiple sections of the rail transit profile project, and the customer quality personnel have tested the product quality of the company. the quality and technical strength of aluminum products are recognized. It is reported that since the beginning of undertaking the project, the leaders of Nanshan Aluminum Company attached great importance to it. According to the contract intention between the sales department and customers, all departments were required to make clear the key points and objectives, closely cooperate with the people, pay close attention to the time node, speed up the production progress, and complete the project on time in strict accordance with the contract signed with the customer.
[68000 tons of excess supply in the global zinc market from January to February of WBMS:2021] the latest report released by the World Bureau of Metals Statistics ((WBMS)) shows that the global zinc market has an oversupply of 68000 tons from January to February in 2021, up from 620000 tons in 2020. From January to February 2021, stocks were reported to have increased by 150000 tons, including a net increase of 82100 tons in Shanghai. LME inventories increased between January and February, with the end of February 67600 tonnes higher than the December 2020 level. LME inventories account for 34% of the world's total, most of which are stored in warehouses in Asia and the United States.
[43000 tons of global lead market supply shortage from January to February of WBMS:2021] the latest report released by the World Bureau of Metals Statistics ((WBMS)) shows that there is a supply shortage of 43000 tons in the global lead market from January to February 2021, up from 114000 tons in 2020. Total inventories at the end of February were 42000 tons lower than at the end of 2020. Large unreported inventory changes are not taken into account in consumption statistics. Demand is estimated on an apparent basis, and the full impact of the national blockade imposed to curb the spread of the COVID-19 epidemic may not be fully reflected in trade statistics.
[Talon Metals plans to build a nickel refinery in the United States] Talon Metals said recently that the proposed US smelter will accept raw materials from its Tamarack nickel project as well as recycled materials. Henri van Rooyen, the company's chief executive, said, "I believe there is enough nickel in the United States to achieve nickel independence, while there is a lack of refineries in the United States that can be used to convert nickel into a final product that can be used in batteries." The company's proposed green nickel supply chain will leave all steps from nickel mining and extraction to battery manufacturing for electric cars in the United States. "the goal of Talon is to produce the first green nickel supply chain that is traceable and independently validated in responsible production practices and carbon dioxide emissions," he said. He added that the company planned to try using blockchains.
[23600 tons of excess supply in the global nickel market from January to February of WBMS:2021] the latest report released by the (WBMS) of the World Bureau of Metal Statistics shows that the global nickel market is in excess of supply from January to February of 2021, and the output exceeds the apparent demand by 23600 tons. The previous supply surplus for the whole of 2020 was 178100 tons. The reported inventory held by the LME warehouse at the end of 2021 is 2600 tons higher than it was at the end of 2020. The total refined nickel production from January to February 2021 is 400500 tons, with a demand of 377000 tons. The mine nickel output from January to February in 2021 was 389500 tons, an increase of 39400 tons over the same period in 2020. The output of Chinese smelters / refineries decreased by 5200 tons compared with January-February 2020, and the apparent demand was 188500 tons, an increase of 28000 tons over the same period last year.
[5600 tons of excess supply in the global tin market from January to February of WBMS:2021] the latest report released by the World Bureau of Metals Statistics ((WBMS)) shows that there is a surplus of 5600 tons of tin in the global market from January to February of 2021. Chinese demand is measured on an apparent benchmark, using the reported inventory of the Shanghai Futures Exchange. Global reported inventories are 2900 tonnes higher than at the end of 2020. Demand is estimated on an apparent basis, and the full impact of the national blockade imposed to contain the COVID-19 epidemic may not be fully reflected in trade statistics. From January to February 2021, the global production of refined tin is reported to have increased by 18000 tons over the same period last year. China's apparent demand increased by 63% compared with the same period in 2020.
[Steel Dynamics's first-quarter net income more than doubled] Steel Dynamics Inc announced its results for the first quarter of 2021. The company reported net sales of $3.54 billion and net income of $431 million in the first quarter of 2021. That compares with net sales of $2.58 billion and net income of $187 million in the first quarter of last year. The company made a profit of $188 million in the fourth quarter of 2020 and net sales of $2.6 billion, according to the company's president and chief executive. Steel demand remained strong in the first quarter and pricing momentum across the steel platform was strong, according to the president and chief executive. The higher flat steel sales price is the most important driver of the company's record quarterly earnings.
[Shougang Group achieved 11 "initial launch" results] in 2020, Shougang realized 7 products, 3 processes and 1 equipment. The first products are: new energy vehicle drive motor electrical steel 30SW1500H and 25SWYS480, advanced high-strength steel SHR800DP for spokes, advanced high-strength steel SHR780FB for rims, cold-rolled high-strength enamel steel HC300EK, high-strength weathering bolt steel BWRB10-1 for Nanhai island and reef and S75PJ for row sawing. The pioneering processes are as follows: alkaline pellet preparation from hydrated lime, high efficiency refining technology of ultra-low carbon steel RH, and synergistic control technology of surface structure and physical metallurgy of automobile outer plate with high freshness and non-intermediate coating. The first opening equipment is: intelligent detection equipment for coil profile.
Terminal information
[follow-up report: when will the "tornado" stop production by global car companies that have cut back on production of "tornadoes"? The wave of core deficiency, which has spread since the end of 2020, has become more and more uncontrollable after the Renesas electronic fire in February 2021. It can be said that the city gate fire affected the pond fish, as a field with great requirements for chips, the automotive industry has also suffered a greater impact, and many car companies have announced to stop production one after another. From the number of announcements issued by car companies to reduce production in recent days, it can also be seen that the chip shortage is not over yet. When will the tornado dissipate? check the details.
[report: the proportion of profits of Chinese car dealers increased by 20% in fiscal year 2020] the report shows that in fiscal year 2020, due to the impact of COVID-19 's epidemic, the average income of car dealers shrank by 12%. It fell to 154 million yuan from 175 million yuan in fiscal year 2019, the fourth consecutive year of decline. However, as manufacturers actively provided all kinds of support during the epidemic, the average profit of dealers increased by 20%, and the proportion of profitable dealers also increased slightly over the previous year. J.D. Power said that automakers should still focus on the sustainable profitability of the after-sales business of dealers, and achieve the effect of promoting retention and returning to the factory by building digital tools and improving personnel capacity to empower dealers' business processes.
[Volvo expects more risks from its "unstable" chip supply chain. Volvo said the shortage of semiconductors, which has hit the auto industry hard, could further affect its business. and forced the truckmaker's factory to shut down. The global supply chain of semiconductors and other components is still very unstable and the future uncertainty is high.
[energy Bureau deploys recharging facilities to develop car enterprises and battery factories.] recently, the National Energy Administration issued the "2021 Energy work guidance", which pointed out that to promote the high-quality development of electric vehicle charging infrastructure, we will speed up the promotion of interactive power supply and demand systems to meet the diversified access needs such as a high proportion of renewable energy and electric vehicles. Coincidentally, just last week, Sinopec, one of the three giants of central energy enterprises, announced that it had reached strategic cooperation with Xilai Automobile and Austrian New Energy respectively, both of which were related to "recharging".
[Kia's first-quarter sales of 16.58 trillion won are in line with expectations] Kia's first-quarter sales of 16.58 trillion won, market estimates of 16.13 trillion won, first-quarter operating profit of 1.08 trillion won, market estimates of 1.13 trillion won.
[Kehua Holdings: it has continued to invest and expand production according to the growth of orders in recent years] Kehua Holdings (603161) said on the interactive platform that the company's in-hand order scheduling refers to the scheduling arrangements for some models with customers within the cooperation period. At present, the longest period has been arranged to 2032, and since the current scheduling is mainly determined by orders-in-hand in previous years, the company has based on the order growth in recent years. We have continued to invest and expand production. At present, the release of production capacity is smooth.
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