SMM Morning Review
SMM Xi Morning meeting minutes: from the trend analysis, prices gradually strengthened last week, broke through the recent high horizontal range and stood firm above 250000 yuan / ton price for two consecutive days. Bullish funds showed a strong performance in the price breakthrough stage, and there was no obvious price correction in the process of rising for two consecutive days. With the weakening of positions in the future, short-term bulls take the initiative to leave the market to cash in profits, market selling pressure will test the support strength of the 250000 yuan / ton integer mark. Therefore, in the short term, the price trend needs to pay attention to the determination of bullish funds to adhere to the 250000 yuan / ton integer mark in the face of market selling pressure. The long-term trend depends on whether demand can generate substantial growth under the expectation of relatively loose supply-side.
[summary of SMM Xi Morning meeting] whether the price of bullish power can reach a new high or not remains to be determined by demand.
"Click to view the price of SMM tin products
The market closed overnight.
With the implementation of China's policy of "no speculation in housing" and the gradual strengthening of the regulation of the real estate market, the property market funds have shifted to the stock market, and the Shanghai Composite Index has been linked all the way since the end of August, breaking 3700 points on Friday and approaching the year's high.
The recent "prosperity" of the domestic stock market has brought a positive atmosphere to the financial markets, and the exchange of phone calls between Chinese and US leaders on Friday made the market think that Sino-US trade relations are expected to get back on track, coupled with fundamentals, electricity restrictions and production restrictions and other factors brought supply-side disturbances. Although the US dollar strengthened on Friday, metal futures closed up nearly across the board, and a number of varieties set new highs.
Specifically, Lun Aluminum has recently reached a record high of US $2937 / ton, closing down in only one of the 13 trading days. At the largest aluminum conference in North America, which ended on September 10, producers, consumers, traders and shipping companies agreed that the problems in the global supply chain that triggered commodity market shocks and pushed aluminium prices to 13-year highs are unlikely to be alleviated any time soon.
Lun Zinc recorded 7 Lianyang, reaching its highest level since June 15, 2018.
Rennick hit its highest level since May 13, 2014, as shortages were caused by a sharp rise in demand from stainless steel mills and electric car battery makers and reduced inventories.
Copper in Shanghai rose sharply, back above 71000, hitting an one-month high. Copper stocks in LME and the previous period fell sharply, boosting copper prices.
Overall, the overall trend of the outer disk is stronger than that of China, except that the trend of Shanghai tin is stronger than that of Lunxi. On Friday, Shanghai Tin also refreshed its listing high of 259410 yuan / ton.
[overnight quotation] Metal gains Shanghai aluminum hit a new high. PPI in the United States hit the biggest year-on-year increase in August and the dollar rose higher.
U. S. stocks closed lower on Friday, with both the Dow and the S & P 500 recording a fifth straight session of decline. In a sign of rising inflation, US PPI rose 8.3 per cent year-on-year in August, the biggest increase on record. U.S. president Joe Biden announced strict vaccination orders on Thursday. The Dow fell 151.69 points, or 0.43%, to 34879.38; the Nasdaq fell 38.38 points, or 0.25%, to 15248.25; and the S & P 500 fell 20.79 points, or 0.46%, to 4493.28.
Crude oil futures closed higher on Friday. Us WTI crude is up 0.6 per cent and Brent is up 0.4 per cent this week. As traders assessed the impact of overseas countries' decision to release strategic crude oil reserves on oil prices, and continued to pay attention to the slow recovery of energy production in the Gulf of Mexico after Hurricane Ida.
In terms of precious metals, COMEX gold futures fell to the key $1800 mark on Friday, and uncertainty over the Federal Reserve / FED timetable for curtailing quantitative easing made most investors take a wait-and-see attitude, with the dollar rising this week, sending gold prices down for the first time in five weeks.
The market will usher in a lot of heavyweight economic data this week, of which the US CPI data to be released on Tuesday and the US retail sales data to be released on Thursday are the most closely watched, which are expected to trigger fluctuations in the dollar again.
Today's macro aspect focuses on Monday's BOF business confidence index in France in August, as well as the monthly crude oil market report released by OPEC.
[macro outlook] focus on France's August BOF Business confidence Index on Monday
LME inventory
Today's focus
[SMM analysis: import price warming foreign trade copper market confidence return] the activity of the foreign trade copper market increased with the warming of the price comparison in the week. At the beginning of the week, the price comparison of 10 contracts has not yet been opened, the market trading enthusiasm is not high, the buyer mostly maintains a cautious wait-and-see attitude, but few inquiries are difficult to see the transaction. While the price ratio has improved in recent days, the range of import losses has narrowed again and again, and the optimistic expectation of the opening of the import window has supported traders to raise their quotations one after another. "View details
[SMM analysis: the spot market of electrolytic copper in Shanghai quickly released with the inflow of imported copper into the sticker water] the performance of copper prices first suppressed and then rose this week. Lun Copper arranged narrowly around the Brin rail. At one point during the week, under the pressure of a sharp rebound in the US dollar, it hit the bottom of the $9200 mark. After gaining support, it directly broke through $9500 / ton on Friday, touching a high of $9550 / ton, and returned to the operating platform in August. The range of concussion of copper in Shanghai is less than 1,000 yuan, and most of the four trading days in the week are brewing within a narrow range of 68500-69500 yuan / ton. On Friday, under the strong guidance of Lunzhong, short sellers broke through the 70, 000 yuan / ton mark in one fell swoop, climbing 70200 yuan / ton, setting solid support for the Bollinger rail. "View details
[SMM analysis: August copper price wide concussion September consumption season sluggish copper price center of gravity may continue to decline] Copper prices showed wide shocks in August, with the Fed hawks speaking in the middle of the month, the market sentiment was significantly affected, copper prices quickly fell to 66000 yuan / ton integer mark and then stopped falling and rebounded, and quickly stood firm at 69000 yuan / ton integer mark, mainly due to the contradiction between macro outlook and fundamentals. Overall, the copper price is still in the macro direction, micro rhythm under the tone of operation. "View details
[SMM analysis: the sense that the copper tube industry is not light in the off-season is really expected to pick up in September] according to SMM survey data, the operating rate of copper pipe enterprises in August was 75.04%, down 5.27% from the previous month, and 2.83% lower than the same period last year. The copper pipe operation rate fell as expected in August. Judging from the downstream order structure, orders from the household air conditioning sector have declined. "View details [reprint needs to retain provenance-Shanghai Nonferrous net] [SMM Analysis] the sense of "not light in the off-season" in the copper tube industry is expected to pick up in September.
[SMM analysis of raw material shortage and production loss recycled copper rod start sluggish] in September, enterprises that had stopped production and overhauled for a period of time prepared to resume production after gradually storing a lot of raw materials, but some enterprises joined the ranks of reducing production. In the short term, recycled copper raw materials are still in tight expectations, profits and orders for recycled copper rods are suppressed, and manufacturers are not willing to produce high. "check the details.
"Click to view the price of SMM copper industry chain products.
[SMM analysis: August aluminum rod industry supply and demand are both weak and processing fees fluctuate in a narrow range] SMM September 10: SMM September 11: August (7.26-8.25) domestic aluminum prices keep fluctuating rising market, SMM East China aluminum monthly average price recorded a high of 19963 yuan / ton, up 940 yuan / ton month on month, aluminum rod enterprise cost and shipping pressure is greater, and the start-up of external aluminum mining enterprises has declined. The industry's operating rate weakened again in August. "check the details.
[SMM research costs push up the price of recycled aluminum by more than 1,000 yuan in the week and expand the range of production cuts downstream.] Aluminum prices are constantly brushing new highs, and due to the pressure of high raw material costs, downstream die-casting enterprises are in a more difficult situation. "check the details.
[SMM analysis: aluminum price high operating rate of the aluminum cable industry suffered another setback in August] the comprehensive operating rate of the domestic aluminum wire and cable industry in August was 40.07%, a decrease of 1.05% from the previous month and 3.46% from the same period last year, of which the operating rate of large enterprises recorded 55.5%, a decrease of 1% from the previous month, and a significant decline in the operating rate of small and medium-sized enterprises. "View details
[SMM research primary aluminum alloy factory is in a difficult season or will reappear] according to SMM research, the operating rate of primary aluminum alloy in August was 52.03%, down 1.1% from the previous month and 9.49% from the same period last year. As far as primary aluminum alloy is concerned, August can be described as "disaster-prone". "check the details.
SMM Analysis: under the high pressure of aluminum price, the operating rate of aluminum profiles dropped sharply in August! According to SMM statistics, the operating rate of aluminum profile enterprises in August was 53.95%, down 5.02% from July and 8.73% from the same period last year. According to the scale of enterprises, the operating rate of large enterprises is 58.42%, that of medium-sized enterprises is 46.50%, and that of small enterprises is 21.44%. "check the details.
[SMM aluminum downstream weekly survey: aluminum prices surge downstream fear of heights surge leading processing enterprises start weakening again] SMM: this week, the operating rate of leading aluminum processing enterprises dropped 1.3% month-on-month to 67.6%, mainly due to the sharp rise in aluminum prices led to a decrease in new orders downstream, while high aluminum prices led to increasing financial pressure. The removal of the warehouse to improve turnover and the control of receiving orders significantly increase the fear of heights downstream. "View details
[scrap aluminum and recycled aluminum weekly review: the increase of cooked aluminum in the week is not as high as the price of recycled aluminum driven by the cost of raw aluminum.] Aluminum prices rose again this week, rising more than 1000 yuan / ton this week, and spot aluminum ingot prices broke through 22000 yuan / ton and rose to 22650 yuan / ton all the way, only one step away from 23000 yuan / ton. From the point of view of the waste aluminum market. "check the details.
[SMM analyses that the short-term drop in India's anti-dumping against Chinalco Calendering products is expected to be limited.] SMM believes that although the arrival of anti-dumping duties is not conducive to the export of aluminum Calendering products to India, due to the impact of the epidemic, the export volume of aluminum Calendering products to India has declined greatly, and the room for reduction under the support of rigid demand is already limited. "check the details.
"Click to view the price of SMM aluminum industry chain products.
[SMM Aluminum Accessories Weekly Review: Petroleum Coke width rising prebaked anode Industry cost] SMM 09.10: the cost of prebaked anode continued to rise during the week, and the industry shipped mainly according to order. Shandong Aluminum Plant raised the purchase price of prebaked anode in September by a wide margin at the beginning of the month. So far, the mainstream factory of ordinary prebaked anode in East China has shipped 4660-4910 yuan / ton. "check the details.
[SMM analysis: external strong internal weak inventory split lead ingot export market brief review] the second quarter is gradually coming to an end, but this year's hot weather and traditional peak season lead battery order performance seems to be lower than expected, superimposed this year's new energy market rise, whether lead ingot trade or terminal consumer market, seem to be filled with the atmosphere of fear of falling. "View details
[SMM research: reclaimed refinery loss four places recycled refinery production continues to decline] according to the SMM (SMM) survey, this week (September 6-September 10) SMM recycled lead licensed smelting enterprises in the four provinces weekly operating rate of 61.11%, down 1.62% from last week. "check the details.
[SMM research: weekly start-up of lead-acid batteries for epidemic prevention in Jiangsu] SMM: according to SMM research, this week (September 6-September 10) the weekly comprehensive operating rate of lead-acid battery enterprises in the five provinces of SMM was 69.94%, up 0.22% from last week. "View details
[SMM survey: primary former smelter weekly operating rate] according to the SMM (SMM) survey, the weekly operating rate of SMM primary lead smelter in three provinces this week (September 4 to September 10) was 62.24%. This week, the operating rate of primary lead smelter increased by 0.69% month-on-month. "View details
"Click to view the price of SMM lead industry chain products.
[SMM survey: galvanizing start-up slipping high pressure on finished product inventory in August] according to SMM research, the reason for the decline in galvanizing enterprise operating rate in August compared with June is that steel prices fluctuated greatly in August, enterprise orders did not significantly improve, superimposed epidemic disturbance in some areas, and enterprises intended to control the start of work under the pressure of finished products. Look at it in sections. "check the details.
[SMM survey: how is the performance of consumption downstream of high zinc prices this week? According to SMM research, galvanizing enterprises started work slightly higher this week, zinc prices fluctuated during the week, and some enterprises had the situation of picking up goods first and then ordering prices under the rigid demand of downstream enterprises, and the inventory of raw materials increased slightly. In terms of galvanized pipes, steel prices have risen again, corporate profits have expanded upside down, and superimposed prices have exceeded the psychological prices of downstream dealers. Under the mood of fear of heights, the purchase of enterprises has decreased, and the inventory of finished products has increased; in terms of galvanized structural parts. "check the details.
[SMM analysis: zinc alloy factory starts slightly increase overall demand increment is limited] SMM September 10: die-casting zinc alloy enterprises feedback, sales declined this week, but some factories due to high inventory of raw materials, production into finished products demand, so the overall start-up slightly improved. "View details
[SMM survey August zinc concentrate output increased by 3400 tons to 335600 tons Hunan Huayuan area mines plan to resume production by the end of the year] August zinc concentrate output increased by 3400 tons month-on-month to 335600 tons Hunan Huayuan area mines plan to resume production by the end of the year: according to the (SMM) survey of SMM, the output of SMM zinc concentrate (new sample) in August was 335600 metal tons, an increase of 3400 metal tons compared with the previous month. The comprehensive operating rate of zinc concentrate is 76.4%, an increase of 0.8% compared with the previous month. "View details
"Click to view the price of SMM zinc products
[SMM Analysis Cobalt Sulfate supply and demand tight balance Price is expected to rise in September] overall supply and demand side, China Cobalt Sulfate inventory accumulated in August, accumulating 135 metal tons in that month. Cobalt sulfate stocks are expected to be in tight balance in September, and 2 metal tons are expected to be removed that month. Cobalt sulfate production down superimposed ternary demand increased steadily, cobalt sulfate inventory tension increased in September, prices are expected to rise slightly. "View details
[SMM Cobalt Lithium spot Weekly report: cobalt intermediate stock tension drives cobalt salt quotation to rise lithium carbonate price is still fast upside down] Future forecast: cobalt, short-term domestic cobalt intermediate inventory tension, superimposed overseas electrolytic cobalt price upward, stimulate domestic smelting enterprises to raise quotations, plan to improve the price upside down, electrolytic cobalt, cobalt salt prices upward this week. Considering the increase in imports of cobalt intermediate products and the weakening demand for digital 3C after October, cobalt prices are still at risk of decline. In terms of lithium, the shortage of lithium carbonate market continued in the second half of the year, and overseas imports decreased significantly due to shipping delays and container shortages caused by the epidemic, which had a great impact on the domestic market supply. "View details
"Click to view the price of SMM new energy industry chain products.
[nickel pig iron weekly review high nickel pig iron price is expected to be stable and strong] the average price of SMM8-12% high nickel pig iron this Friday is 1420 yuan / nickel point (including factory tax), which is 2.5 yuan / nickel point higher than that of last Friday; the average price of nickel pig iron in Indonesia is 1412.5 yuan / nickel point (including tax), up 2.5 yuan / nickel point from last Friday. The price of Nickel Iron and Steel is high and strong this week, with some bulk orders trading at 1450-1475 yuan / nickel point (including tax to the factory), but because these transactions provide spot supply to the ironworks. "View details
[laterite Nickel Weekly Review Nickel Market supply tight Nickel Price continued to rise] the average 1.5%CIF price of nickel ore on Friday was $90.50 / wet ton, unchanged from the average price last Friday. With the rainy season approaching in the Philippines, the import of nickel ore will gradually decrease. In order to maintain the strong demand for follow-up production reserves, iron mills accept high-priced nickel ore, and the mineral price is high and difficult to fall. "View details
"Click to view the price of SMM nickel products
SMM Analysis of how long the rising trend of Petroleum Coke can continue? Recently, the petroleum coke market has risen strongly, and the industry price has once set a new record high. as of September 10, the mainstream ex-factory price of sulfur coke in Shandong geo-refining is about 2900 Mel 3400, an increase of about 10% compared with the beginning of the month. "View details
[in-depth analysis of the SMM coke market how steel mills deal with the rapid rise of coke] since the beginning of August, coke prices have increased by 10 rounds, totaling 1360 yuan / ton. The mainstream quotations for coke are as follows: primary metallurgical coke-dry quenching 4530-4600 yuan / ton; quasi-primary metallurgical coke-dry quenching 4280-4350 yuan / ton; primary metallurgical coke 3970-4050 yuan / ton; quasi-primary metallurgical coke 3870-3950 yuan / ton. Now the price of coke has repeatedly reached record highs, which has greatly increased the production cost of downstream steel mills, the cost of steelmaking has increased by about 550 yuan / ton, and profits have been greatly reduced, so how do steel mills deal with it? "View details
[SMM Analysis: the Secret behind the continuous rise of Coking Coal] as we all know, the rapid rise of coking coal is mainly due to the problem of supply and demand. In early September, although the government asked for a stable supply of coal, it was difficult for coal mines to increase significantly in the short term, and it would take at least a month to adjust, that is to say, the relief of coking coal supply would take place at the end of September at the earliest. And coking coal prices rise too fast may have a deep reason-- to achieve the target of carbon neutralization at the peak of carbon. If we want to achieve the target of carbon neutralization, we must consider the two industries with huge CO2 emissions, the steel mills of coke enterprises, so how does coking coal play a role?. "check the details.
"Click to view the price of SMM steel products
[SMM indium spot weekly evaluation indium price fluctuation (2021.9.6-2021.9.10)] the indium market price peaked after rising rapidly this week. At present, there is still no obvious trend change in the supply and demand fundamentals of the indium ingot market, and the tension of crude indium raw materials still exists, but the bullish sentiment in the market begins to show some rational return, and a large amount of speculative funds continue to pour into the market to buy goods. But there are also a lot of profitable parties began to ship, fall into the bag for safety. Lead to spot shipping prices after some sharp rise after the pullback, the market is also very active this week. By the end of this week, the price of SMM refined indium is 1650-1750 yuan / kg, the average price remains the same as last week. "View details
[SMM bismuth spot weekly review bismuth price rebound (2021.9.6-2021.9.10)] bismuth ingot prices rebounded this week, market supply and demand fundamentals have changed, in addition to some manufacturers in Henan, most manufacturers' inventory resources are tight, manufacturers began to restrict shipments, many manufacturers even stopped shipping, market speculative forces also stopped shipping, and even a lot of speculative funds began to inquire everywhere to buy goods. The market is becoming more bullish. While terminal demand has risen slightly, stock has been clearly shown this week, but speculative sentiment is still relatively cold. By the end of this week, the mainstream price of SMM bismuth ingots is 46000-47000 yuan / ton, which is up 500 yuan / ton compared with last week. "View details
[SMM selenium Weekly Review: downstream enquiries increase selenium prices remain strong] the domestic selenium market continues to be stable this week, with the increase in downstream enquiries, the quotations of upstream consignors are also getting stronger. Although the current procurement has not been liberalized, but most merchants are optimistic about the future. Based on the consideration of the cost of inventory products and the prediction of the late trend, more and more merchants keep firm quotations, have less room for counter-offer, and the current actual transaction price and the price center of gravity that can be traded are significantly higher than those of half a month ago. "View details
[SMM bismuth spot weekly review of antimony prices may appear the second round of strong upward market (2021.9.6-2021.9.10)] Antimony market prices strengthened again this week and began to show a strong upward trend again. At present, the main contradiction in the antimony market is still tight raw materials and tight environmental protection. "View details
[SMM magnesium spot Weekly Review short break magnesium prices rose again (2021.19.6-2021.19.10)] after magnesium prices broke through the 30, 000 yuan mark, the market returned to a stalemate, and some traders chose to reduce prices and ship goods to withdraw funds to guard against the risk of price reduction. Under this influence, the market transaction price fell slightly, and the quotation of magnesium factory was lowered accordingly. However, with the recent overseas orders entering the market, there is a posture of "I will take all the goods below 31000 yuan / ton." the magnesium price has taken off again, and the mainstream transaction price in the market successfully returned to the 31000 yuan / ton level on Friday, with some factories offering 31500 yuan / ton. "View details
[SMM research magnesium alloy prices soaring in the middle and lower reaches of enterprises difficult to break the situation] this year, magnesium prices seem to be only "moderate rise" and "explosive rise" these two forms, and in the magnesium price with an irresistible attitude, repeatedly breaking the historical record, the upstream and terminal sandwiched in the middle of the middle and downstream enterprises are undoubtedly the most helpless party under this round of price rise. "View details
[SMM Titanium spot Weekly Review] as of September 10, the price of titanium chloride fell slightly this week, and the overall operation of the titanium market is strong. The details are as follows. "View details
"Click to view the spot quotation of SMM small Metals.
Important news of metals and industry
[general Administration of Market Supervision: operator pricing should not only emphasize market supply and demand without considering production and operating costs] according to a report on the website of the State Administration of Market Supervision and Administration today, commodity prices in China have continued to rise sharply since the beginning of this year, and the prices of some varieties have hit new highs one after another, which has a greater impact on downstream enterprises, especially small and medium-sized enterprises and individual industrial and commercial households. Individual illegal traders and floating capital groups maliciously rush to buy, hoard and bid up prices, which seriously disturbs the market order and is not conducive to the recovery and development of China's economy, which will be dealt with seriously by the market supervision department. In the research and law enforcement inspection, it is found that some enterprises have the misconception that independent pricing is equated with random pricing. For commodities with market-regulated prices, operators shall set prices on the basis of production and operation costs and market supply and demand, but they should not only emphasize market supply and demand without considering the cost of production and operation. Enterprises should follow the pricing principles of fairness, legality and good faith, and set a reasonable price. At the same time, the operator's price behavior, that is, pricing strategy, price marking and price means used, are all regulated by the market supervision department.
[copper supply risk Mitigation] 1 the Andina copper mine in Chile, owned by Chilean state copper company (Codelco), has reached a salary agreement with members of the Suplant union, which means that the strike that has lasted for more than three weeks is expected to come to an end. Workers at BHP's Cerro Colorado mine in Chile will vote on BHP's new wage negotiations at 16:00 local time in Santiago on Saturday. (2) earlier this month, the Andina copper mine reached a strike agreement with two major trade unions of JX Nippon Mining&Metals, and mine workers are about to enter a tense contract renewal period; so far, they have managed to avoid the shutdown of large mines such as Escondida and El Teniente; (3) it is true that Salvador, the smallest mine in Codelco, is still likely to stop production; Workers cite high copper prices and profits in the negotiations, while input costs in cyclical industries have begun to rise, and companies want labor costs in cyclical industries to be brought under control.
At the largest aluminum conference in North America, which ended on Sept. 10, producers, consumers, traders and shipping companies agreed that the problems in the global supply chain that triggered commodity market shocks and pushed aluminum prices to 13-year highs are unlikely to be alleviated any time soon. Many attendees expect supply problems to continue to weigh on the market for most of 2022, with some predicting it could take up to five years to resolve. Several participants said that labor shortage is their biggest problem and do not know when the situation will ease.
[the demand for lithium resources has greatly increased. Enterprises have upgraded the "ore-grabbing war". The new energy automobile industry has "brought goods", the demand for lithium resources has greatly increased, and the price has risen. Lithium reserves have become the "code of wealth", and the "ore-grabbing war" of enterprises has escalated. The agency believes that the current round of lithium salt prices are still in the upward range, and the rise may continue into the whole of next year. From the balance of supply and demand, Societe Generale Securities said that the current round of lithium prices are still in the upward range, or continue into the whole of next year. There is a possibility that the demand for new energy will exceed expectations, and the lithium industry may be in a long business cycle.
[Citic Securities: the tight supply and demand situation of the silicone industry is expected to continue] CITIC Securities reported that DMC prices broke through the 37500 yuan / ton mark last week, and prices remained high. Compared with the price rise cycle of Q4 in 2020, this round of price increase has the characteristics of long cycle and strong demand support, and it is expected that the continuity of prosperity will be stronger. In terms of the annual dimension, under the disturbance of many factors, such as the increase in the price of raw materials, epidemic situation, maintenance, uncertainty of new production capacity and so on, with the advent of the peak demand season, the high profile of the silicone industry is expected to continue. It is suggested that we should continue to pay attention to the opportunities of the board, focusing on the "invisible champion" of the leader of the whole industry chain and the subdivided areas downstream.
[the first single crystal furnace of Shuangliang Silicon material (Baotou) Co., Ltd. was successfully installed] the first single crystal furnace of Shuangliang Silicon material (Baotou) Co., Ltd. was successfully installed. Shuangliang Silicon material (Baotou) Co., Ltd. is a wholly owned subsidiary of Shuangliang Energy Saving system Co., Ltd., the first phase of 40GW monocrystalline silicon project (20GW) is the key project of Baotou municipal government to attract investment, and it is the actual action of Shuangliang in response to the national call of "2030 carbon peak and 2060 carbon neutralization". At present, the construction of the first phase of Shuangliang silicon monocrystalline silicon project is in full swing.
[wafer price rise again this week domestic G1 single crystal silicon wafer (158.75 mm/ 170 μ m) week-on-week increase of 1.01%] this week, the domestic G1 single crystal silicon wafer (158.75 mm/ 170 μ m) price range is 4.96-4.99 yuan per chip, the average transaction price is 4.99 yuan per chip, a month-on-week increase of 1.01%; The price range of M6 single crystal silicon wafer (166mm/ 170 μ m) is between 5.08 yuan and 5.12 yuan per chip, and the average transaction price is maintained at 5.10 yuan per chip, with a month-on-week increase of 2.20%. The price range of M10 single crystal silicon wafer (182 mm/ 175 μ m) is between 6.09 yuan and 6.11 yuan per chip, and the average transaction price is maintained at 6.11 yuan per chip. The price of G12 single crystal silicon wafer (210 mm / 170 μ m) ranges from 7.93 yuan to 7.97 yuan per wafer, and the average transaction price is maintained at 7.97 yuan per wafer.
[Vale cut its iron ore production forecast for next year] Vale said on Thursday that it had cut its iron ore production forecast for 2022 to 370 million tonnes, compared with a previous target of 400m tonnes. The downgrade is mainly due to problems with the company's high-quality business in northern Brazil, namely delays in the approval of permits for additional waste treatment facilities in its Northridge (Serra Norte) complex and S11D project.
[the Shangde Haolai Fluorite Mine Survey Project in Abaga Banner, Inner Mongolia Autonomous region has started] the Shangde Haolai Fluorite Mine Survey Project in Abaga Banner, Inner Mongolia Autonomous region, registered by the 108 Brigade of the Inner Mongolia Autonomous region Nonferrous Geological Exploration Bureau, has begun. The project is located in Bayantu Gasumu. Roughly ascertain the shape, scale, occurrence, grade and changes of the orebody; study by analogy to understand the technical performance of ore processing (metallurgy); evaluate the feasibility of deposit development and utilization; estimate the amount of resources; the planned physical workload of the project is as follows: 1the planned physical workload of the project is as follows: 110000 geological repair survey of 7.3km2, 1000 cubic meters of trench exploration, 1000 meters of drilling, 200pieces of chemical samples, 100pieces of bedrock spectrum samples, and 1.94 million yuan of planned geological prospecting.
[the United States proposes to the European Union to resolve the dispute over steel tariffs] it is reported that the United States has submitted a preliminary proposal to the European Union to resolve the three-year dispute over US steel imports from the European Union. It is reported that the proposal considered by US officials last week involves a tariff quota system, on which intensive negotiations are under way. The two sides will discuss the issue at the first session of the bilateral Trade and Technology Council to be held in Pittsburgh on September 29.
[Russian Ministry of Natural Resources: Russian oil reserves have decreased by nearly 33% in the last decade] according to the Russian satellite network, the Ministry of Natural Resources of the Russian Federation wrote in a draft national report on environmental protection and current situation in 2020 that between 2010 and 2020, Russia's crude oil reserves decreased by about 33%, natural gas reserves by 27%, but coal reserves barely decreased. Russian oil reserves fell from about 30 billion tons between 2010 and 2015 to about 20 billion tons between 2015 and 2020, according to the document. Natural gas reserves remained at 70 trillion cubic meters until 2015 and fell to 5 billion cubic meters in 2016.
[Dashi: adjust the speculative trading margin level of some contracts of coking coal and coke futures from 15% to 20%] Dashi decided to adjust the speculative trading margin level of coking coal futures JM2110, JM2111, JM2112 and JM2201 contracts, coke futures J2110, J2111, J2112 and J2201 contracts from 15% to 20% from 15% to 20%, and the limit range and hedging margin level remain unchanged.
[vanadium and titanium of Panzhihua Iron and Steel Co., Ltd.: jointly promote the commercialization process of vanadium battery energy storage industry with Dalian Bolong Strategic Cooperation] Panzhihua Iron and Steel Co., Ltd. signed a strategic cooperation agreement with Dalian Bolong to jointly promote the commercialization of vanadium battery energy storage industry. The company can give priority to Dalian Bolong to provide vanadium electrolyte, vanadium battery energy storage system processing and other services. According to the development of the energy storage industry, the two sides discussed joint investment to build a vanadium electrolyte plant and gradually expand the scale of the vanadium battery industry. In the later stage, according to the growth of the energy storage market, the two sides timely started the production cooperation of vanadium battery energy storage equipment, and the production capacity matched with the production capacity of vanadium electrolyte.
Macro focus
[Goldman Sachs: the Fed "very likely" announced Taper in November) Goldman Sachs raised the probability of the Fed announcing Taper in November to 70% from 45%; reduced the probability of the Fed announcing Taper in December from 35% to 10%; and still expects that if the risk posed by Delta mutants increases, the Fed has a 20% chance of postponing the announcement of Taper until 2022.
[the largest S & P 500ETF in the United States has broken through the $400 billion mark] recently, the shock adjustment in US stocks has not prevented the continued net inflows of US ETF. Statistics show that since the second half of this year, S & P 500ETF has occupied three of the top 10 ETF with the strongest ability to attract money in the US market. These three S & P 500ETF alone took in a total of $27.361 billion in the second half of the year. In September, the S & P 500ETF (SPY), the largest in the US market, officially broke the $400 billion mark.
[economists cut US GDP growth forecasts for the third and fourth quarters of this year while raising inflation forecasts] in the face of the rapid spread of Delta variants, rising inflation and continuing supply challenges, economists lowered their US economic growth forecasts for the rest of the year. According to the median forecast in Bloomberg's latest monthly survey, economists cut their growth forecast for the third quarter to 5% from 6.8% and their growth forecast for the fourth quarter to 5.3% from 5.6%.
[the US government is considering launching a FSCO review or cracking down on stable currencies] according to three people familiar with the matter, the US Treasury and other agencies are considering launching a (FSCO) review by the Financial Stability Supervisory Board, and the supervision of stable currencies may be greatly increased. After weeks of discussion, US government agencies will decide whether to conduct a formal review of the Tether and other stable currencies. The Financial Stability Supervisory Board has the power to treat specific companies or activities as systemic risks to the financial system. The presidential financial markets working group, led by Treasury Secretary Yellen, plans to issue recommendations on stable currencies by December, and US regulators are building consensus that an FSCO review is necessary.
[the General Administration of Customs and Guangxi jointly released China-ASEAN Trade Index for the first time] on September 11, the General Administration of Customs and the people's Government of Guangxi Zhuang Autonomous region issued the China-ASEAN Trade Index for the first time during the 18th China-ASEAN Expo held in Nanning. According to the index, the China-ASEAN trade index in 2020 was 241.09 points, an increase of 19.64% over 2019% and 141.09% over 2010, indicating sustained and steady growth of China's import and export trade with ASEAN.
[central bank: RMB loans increased by 1.22 trillion yuan in August, down by 63.1 billion yuan compared with the same period last year.] according to central bank data, new RMB loans in August were 1.22 trillion yuan, estimated at 1.4 trillion yuan, compared with the previous value of 1.0832 trillion yuan. From a departmental point of view, household loans increased by 575.5 billion yuan, of which short-term loans increased by 149.6 billion yuan, medium-and long-term loans increased by 425.9 billion yuan, enterprise (business) unit loans increased by 696.3 billion yuan, of which short-term loans decreased by 114.9 billion yuan, medium-and long-term loans increased by 521.5 billion yuan, bill financing increased by 281.3 billion yuan, and loans to non-banking financial institutions decreased by 68.1 billion yuan.
[the Guinean coup military asked the central bank to freeze all government accounts] according to the Guinean News Network, the Guinean coup military said on the 9th that it had ordered the Central Bank of Guinea and other banks to temporarily freeze all withdrawals from government accounts. In a speech on Guinean state television, a military spokesman for the coup announced that the bank accounts were frozen to protect state assets. Freeze the accounts of public administration and commercial institutions of all ministries and presidential palace, accounts of presidential initiatives and projects, outgoing members of the Government, and senior officials and administrators of national financial institutions.
Terminal information
Smartphone suppliers slash next year's foundry wafer orders? Weir shares response: false rumors] some investors recently asked Weir shares questions on interactive platforms: it was revealed that your company's third largest CIS (contact image sensor) supplier (OV) has reduced its contract wafer order by up to 50, 000 pieces per month. Is the news true? In this regard, Weir shares replied in the interactive platform: the company has not made the above decision. For false rumors, please keep an objective and rational attitude to face them. The company will continue to maintain a long-term partnership with suppliers to provide sufficient capacity guarantee for the company's sustainable growth in the future.
[the General Administration of Market Supervision imposed administrative penalties on three automotive chip distribution companies for bidding up prices in accordance with the law] recently, according to law, the General Administration of Market Supervision imposed a fine of 2.5 million yuan on three automotive chip distribution companies, namely, Shanghai Xite Electronics Co., Ltd., Shanghai Chengsheng Industrial Co., Ltd., and Shenzhen Yuchang Technology Co., Ltd. In the next step, the General Administration of Market Supervision will continue to pay close attention to the price order in the chip field, strengthen price monitoring, severely crack down on illegal acts such as hoarding and driving up prices, and maintain a good market order.
[Yongji Co., Ltd.: plans to invest 107 million yuan in Shanghai Eyan Semiconductor Co., Ltd.] Yongji shares announcement, in order to seize the development opportunity of the domestic semiconductor industry, the company plans to invest 107 million yuan to increase the capital and shares of Shanghai Eyan Semiconductor Co., Ltd. After the completion of the investment, the company holds a 51% stake in Shanghai Eyan Semiconductor.
[Guangdong Hydropower: plans to build 150MW Rural Cooperative Photovoltaic Energy Base Project] Guangdong Hydropower announcement, the company's wholly-owned subsidiary Southeast Guangdong Hydropower signed an Agreement with the government of Luoshan County, Henan Province. The government of Luoshan County agreed to invest in the construction of 150MW rural cooperative photovoltaic energy base project in Zilu Town of Luoshan County and its surrounding areas (the specific location and use area of the project are determined through separate consultation), with a total budget of 600 million yuan.
[all wind turbines installed in Guangdong Yuedian Yangjiang Sandy Grill Offshore Wind Power Project completed] invested and built by Guangdong Yuedian Yangjiang Offshore Wind Power Co., Ltd., 47 wind turbines installed in the Guangdong Yangjiang Sandy Grill Offshore Wind Power Project, which was built by China Railway Bridge Bureau, was completed 50 days ahead of schedule, laying a solid foundation for achieving the goal of grid-connected power generation by the end of the year.
[national power investment wind and light installation exceeds 70GW recircle 2.6GW photovoltaic index + 43 county-wide distributed] according to the State Power Investment News, with the commissioning of a number of new energy projects such as 100MW parity photovoltaic in Sancha Town, Huanglong County, Shaanxi Province, and the Xishui bamboo tile 50MW agricultural photovoltaic complementary project in Hubei Province at the end of August, the company's wind and light cumulative installed capacity reached 70.21GW, clean energy installed 109GW, accounting for 58.69% of the total installed capacity, an increase of 2.6 percentage points over the end of 2020. Among them, in the field of photovoltaic business, by the end of August, the State Power Investment Corporation had installed 5.72GW of new photovoltaic equipment in 2021, with a cumulative installed capacity of 35.33GW, continuing to remain firmly in the position of the "giant" of photovoltaic in the world. Up to now, 14 provinces, autonomous regions and municipalities, including Shanxi, Inner Mongolia and Anhui, have issued construction plans for the landscape project in 2021, in which the scale of wind and light security grid connection exceeds that of 92GW. Five provinces and cities of Shandong, Guangxi, Tianjin, Jiangxi and Shanxi have issued a list of guaranteed wind and light projects in 2021, with a total scale of nearly 28GW, including photovoltaic 17GW. As of September 10, State Power Investment companies have signed county-wide distributed photovoltaic development agreements with 43 cities, districts and counties in 14 provinces, including Fujian, Gansu and Guizhou.
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