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Summary of SMM Zinc Morning meeting: overnight Shanghai zinc recorded a positive pillar, once again breaking through the 24000 yuan / ton integer barrier, below the Bollinger Road middle rail to form support. On the supply side, the import of zinc mines from Russia and Mongolia by refineries in Inner Mongolia has been hindered by the epidemic in Manchuria.
There are many interference factors on the supply side, the zinc price may fluctuate and run [minutes of SMM Zinc Morning meeting]
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SMM tin morning news: 2202 contract trend volatility slowed down, a small amount of funds entered. In terms of fundamentals, domestic warehouse receipt inventory decreased slightly, spot shipments were poor, and the relationship between supply and demand was balanced. On the market trend, 2202 contract night market opened slightly higher to maintain horizontal trading, price fluctuations slowed down, most of the time around the 290000 integer gate position up and down.
Shanghai tin horizontal trading volatility narrowed down the pace of capital entry slowed down [SMM Tin Morning News]
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SMM steel morning meeting minutes: yesterday even iron weak shock, the main contract 2205 closing price of 683, down 3.33% throughout the day. Port spot traders held steady in early trading compared with last Friday, following the decline in the market, some traders quoted prices down 5-10 yuan / ton. The steel mill is mainly wait-and-see. The atmosphere of spot transaction at the port is deserted today. Yesterday, the snail plummeted, the spot fell, and the transaction was poor.
Iron ore weak shock thread futures plummeted [minutes of SMM Steel Morning meeting]
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Macro aspect:
Flight cancellations that disrupted Americans' travel plans over the Christmas weekend continued until Monday, exacerbated by the winter storm when airlines were understaffed by a surge in COVID-19 cases. The spread of the O'Micron mutant also continues, with President Joe Biden promising to help governors struggling with omicron variants, but acknowledging that states need to take the lead in controlling the pandemic. The volatility of the dollar weakened, running above 96 as a whole, showing a continuing trend of weakness since last week.
In the oil market, US crude oil futures opened low and closed higher on Monday, and finally reversed and closed higher. Despite concerns about the rapid and large-scale spread of the Omicron strain in the US, investors seem willing to buy assets considered risky, propping up oil prices.
On the macro side this week, we will focus on the unemployment rate in November in Japan and the monthly rate of the FHFA house price index in October in the United States.
In the metal market:
In terms of metals, the LME market was still closed on Monday, and most of the inner market rose under independent operation, with only Shanghai Aluminum and Shanghai Zinc recording a decline, but Shanghai Aluminum and Shanghai Zinc also moved upward at night, narrowing the decline. The boom in Shanghai copper rose upward, up 1.59%, far ahead of all metals.
Black department recorded a decline across the board, coking coal three brothers intraday diving, the decline expanded, coking coal fell 4.02%, coke fell 3.65%, thermal coal fell 2.21%, iron ore fell after the end of the day to repair, but still fell more than 3%.
For precious metals, gold futures closed lower on Monday as they entered the last week of 2021, ending three consecutive days of gains, but managed to hold on to the important psychological price of $1800.
"[overnight market] most of the metals in the inner market rose, only Shanghai aluminum and Shanghai zinc recorded a decline in black collective weakness.
"Click to view the price of SMM copper products.
"Click to view the price of SMM aluminum products
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"Click to view the price of SMM nickel products"
U. S. stocks closed higher on Monday, with the Dow up more than 350 points and the S & P 500 at a record intraday and closing high. Investors continue to assess the possible threat to the global economy posed by the O'Micron mutant. Fauci, an American infectious disease expert, predicts that the number of confirmed cases in the United States will continue to rise.
[SMM data: SMM mainstream copper inventory weekly data] as of Monday, December 27th, SMM national mainstream copper market inventory slightly increased by 2900 tons to 86000 tons compared with last Friday, has increased inventories for four consecutive weeks on Monday, but is still below 90, 000 tons. Inventories increased in all parts of the country over the weekend, mainly in Shanghai and Tianjin, slightly in Guangdong, Chongqing and Chengdu, and unchanged in other areas. "View details
[SMM data: domestic electrolytic aluminum social inventory dropped 25000 tons to 839000 tons compared with last Thursday] December 27, SMM statistics domestic electrolytic aluminum social inventory of 839000 tons, down 25000 tons compared with last Thursday, Wuxi, the South China Sea contributed mainly to the decline, mainly due to local storage efforts, the arrival of goods is relatively small; the Shanghai area continues to accumulate inventory. "View details
According to SMM research, the total inventory of lead ingots in the five places of SMM reached 100200 tons as of December 27, down 8500 tons from last Friday, and 13700 tons from Monday. "View details
[SMM Analysis: Anhui Fuyang leading lead-acid Battery Enterprise and Yadi Qiang] on December 17, Yadi, the leading global brand of electric bicycles, announced the acquisition of 70 percent each of Jieshou Nandu Huayu Power Co., Ltd. and Zhejiang Changxing Nandu Power supply Co., Ltd. "check the details.
[SMM data: SMM seven zinc ingots social inventory increased by 2500 tons compared with last Friday] according to SMM, as of Monday, the total inventory of SMM seven zinc ingots was 126700 tons, an increase of 2500 tons from last Friday and 2500 tons from last Monday. "View details
[SMM Annual inventory Special topic: lithium Salt "Hub" with strong Price increases to explore Lithium Carbonate Market changes throughout the year) 2021 will be a year in the history of lithium carbonate price breakthroughs. According to SMM prices, as of December 24, 2021, the price of battery-grade lithium carbonate in China rose from 53000 yuan / ton to 254000 yuan / ton, an increase of about 379% from the beginning of the year, a record high. As the price center of lithium products, with the rising price of lithium carbonate, the prices of all lithium products such as lithium ore, lithium hydroxide, lithium hexafluorophosphate and lithium metal are higher. "View details
[SMM News: Qinghai enterprises stop signing lithium prices soar! Lithium carbonate lithium hydroxide rose 5000 yuan / ton a day] recently, the rapid rise in lithium prices has once again triggered heated discussion in the industry. At present, there is news on the market that the third round of lithium salt price increase has hit, and some lithium enterprises have received a quotation of 300000 / ton lithium carbonate. In this context, according to SMM spot prices, the first trading day of this week, the average price of battery-grade lithium carbonate ushered in another rise, an one-day price increase of 5000 yuan / ton. "View details
[SMM stainless steel spot information: SS contract high shock stainless steel spot prices continue to strengthen] stainless steel spot market prices are still strong trend, spot prices on the high side; and 304hot rolling due to the market supply is not much, the increase is higher, the current hot rolling resources are generally reported to 17000 yuan / ton. However, according to business reports, the morning market transaction atmosphere is not active, trading in general. "View details
[SMM comment: the overall weak and stable manganese price at the beginning of the week is the main wait-and-see market] there are no more inquiries and transactions on the spot of electrolytic manganese in various regions on Monday, and the transaction price of the manufacturers is limited under the release of a small amount of rigid demand at the end of the month. "check the details.
[SMM magnesium ingot spot KuaiBao: magnesium price high consolidation] it is learned from the sales staff of a large factory that downstream acceptance of the current magnesium price is limited, while it still takes time for the environmental protection side of the rectification and reform rules to come out, the factory is more reluctant to sell, and the market shows a stalemate that the downstream cannot afford to buy and the upstream does not want to sell. "View details
[SMM billet commissioning rate: poor profit: the billet commissioning rate dropped slightly this month] according to SMM research, as of December 27, the operating rate of billet steel mills mainly producing building materials was 60.71%, 1.64% lower than that of 62.36% in November and 6.62% lower than that of the same period last year. "check the details.
[SMM analysis: market rumors led to a sharp drop in black thread and hot roll drop of more than 4%] according to the current news, steel mills are expected to resume production, production may increase, and the impact of the epidemic continues. The recent frequent cold weather and the approach of the Spring Festival have led to a slight weakening of downstream demand. SMM believes that the superposition of various factors has had an impact on the market as a whole, and the recent occasional rumors have caused some disturbance to the market. "View details
[delivery fees for copper and other varieties adjusted in the previous period] on December 24, the last issue issued a notice on the adjustment of delivery fees for copper and other varieties, From January 8, 2022 to January 8, 2023: copper, aluminum, zinc, lead, nickel, tin, rebar, wire rod, hot rolled coil, stainless steel, gold, silver, natural rubber, pulp, fuel oil, petroleum asphalt futures delivery fee standard is temporarily adjusted to 0 (including futures to spot and standard warehouse receipt transfer and other business settled through the exchange and collection of handling fees according to delivery standards).
[Codelco asks for a second arbitration in Ecuador over Llurimagua copper project] Chile's state-controlled Codelco, the world's largest copper miner, said on Friday that it had asked for a second international arbitration with Ecuador and its national mining company Enami EP over the Llurimagua copper project. The project has been the subject of commercial tension since November 2020, when Codelco said its Ecuadorian counterparts had not yet fulfilled the agreement reached a year ago to jointly develop the project, when the project was in the exploration phase.
[any miscalculation made by the Peruvian Government in the proposal to be discussed with the mining community on 30 December could revive the protest against the Las Bambas mine of MMG Ltd.] [the community will discuss an agreement with the government on 30 December on the Las Bambas copper mine or affect the re-blockade] any miscalculation in the proposal to be discussed with the mining community on 30 December. Luis Huaman í, chairman of the Mining Corridor Combat Committee, said that the community around the world's ninth-largest copper mine expected an agreement between the Peruvian President, his Prime Minister, the Minister of Transport and the Minister of Mines and Energy. Such an agreement should be constitutional and reasonable, otherwise a new blockade of Las Bambas will be launched, and this time 18 agricultural communities from the southern province of Chumbivilcas will participate.
[Udokan Copper develops Russia's largest copper deposit with resources of more than 26 million tons] Udokan Copper resources exceed 26 million tons, which is considered to be the largest new copper deposit in Russia. The resource capacity of the deposit is 26.7 million tons of copper with a copper grade of 1.05%. The deposit is located in Karal City, post-Baikal border region, 30 kilometers away from the Sinkara station on the Baikal-Amour trunk line. The project includes the commissioning of a mining and metallurgical plant with a final product of cathode copper and sulphide concentrates with an estimated production of 135000 tons of copper per year.
Recently, Jiangsu Yitai Industrial Co., Ltd. ("Yitai Co., Ltd.") issued an announcement that it intends to issue convertible bonds with a total amount of no more than 650 million yuan. the funds raised will be used to invest in the annual production of 1.1 million aluminum alloy parts for new energy cars and the second phase expansion project of precision aluminum alloy castings for Mexican cars. Among them, the total investment of 1.1 million aluminum alloy parts project is 380 million yuan. it is planned to use the company's existing land as the implementation site to introduce national die-casting machines, heat treatment furnaces, machining centers and other automatic production equipment units. comprehensively improve the automation level of the existing die-casting production line and improve production efficiency. The second phase of the expansion project of Mexican aluminum castings is planned to invest 271 million yuan to build a new second-phase plant at No. 104140 Corinas Industrial Park in Leon, Mexico. Mainly produces EL58 gearbox shell, BT1XX steering shell precision die casting and other products.
[SMM investigation] the infrastructure construction of a lead-zinc mine in Inner Mongolia has been completed and put into production. Recently, it has been selected and selected by the receiving concentrator. It is conservatively estimated that the increase of lead-zinc ore powder will be more than 5000 tons in 2022.
[Japan's zinc exports fell 39.1% in November from a year earlier] according to data released by Japan's Ministry of Finance on Friday, Japan's customs-cleared zinc exports fell 39.1% year-on-year to 7651603 kg in November. From January to November, customs-cleared zinc exports were 105279663 kg, down 18.6% from a year earlier.
[Chen Xuehua, chairman of Huayou Cobalt Group, went to Indonesia for inspection and guidance of nickel smelting projects] from December 13 to 17, Chen Xuehua, chairman of Huayou Cobalt Group, went to Indonesia's IMIP Park (Morovali Industrial Park) and IWIP Park (Weidabe Industrial Park) to inspect and guide the Indonesian project. On the 16th and 17th, he held an on-site work discussion in the park to listen to the construction, production and operation of the Indonesian project.
BHP Billiton, the world's largest miner, has announced the termination of a support agreement between BHP Billiton, its subsidiary BHP Western Mining Resources and Noront Resources over Noront's support for BHP Billiton's acquisition of Noront at C $0.75 a share, officially ending the long-running battle for the Canadian nickel miner. Noront Resources said on Tuesday that it had chosen to accept the latest offer from Australian billionaire Andrew Forrest's Wyloo Metals, giving BHP five working days to match the offer. BHP said later in the day that it did not believe that raising its offer of C $0.75 a share to match Wyloo's offer did not have "sufficient long-term value". The two Australian mining companies have been engaged in a tug-of-war with Noront's competitive offer since July. The risk lies in the acquisition of early eagle nest nickel and copper deposits targeted at the Ring of Fire in northern Ontario.
[Indonesia: will no longer export nickel ore even if the European Union crackdown] according to sources, Indonesian Investment Minister / BKPM head Bahlil Lahadalia said that after the government's policy of banning the export of nickel ore in the form of raw materials, the same strategy will be applied with bauxite and tin in the future.
[Nandu Power supply: the first phase of lithium recovery has an annual processing capacity of 25000 tons. The products are mainly ternary precursors such as lithium carbonate and ternary cathode materials.] Nandu Power said on the investor interactive platform on December 26 that the company's lithium recycling capacity is 25000 tons per year, and its production products are mainly lithium carbonate, lithium hydroxide, cobalt sulfate, nickel sulfate, manganese sulfate, nickel cobalt manganese sulfate and other ternary precursors and ternary cathode materials. The company's solid-state lithium battery is in the process of continuous research and development.
According to the China Iron and Steel Association, in mid-December, steel enterprises produced a total of 18.9046 million tons of crude steel, 16.3633 million tons of pig iron, and 18.3052 million tons of steel. Of this total, the daily output of crude steel was 1.8905 million tons, down 2.26 percent from the previous month; the daily output of pig iron was 1.6363 million tons, down 0.33 percent from the previous month; and the daily output of steel was 1.8305 million tons, up 1.73 percent from the previous month.
[Jiuquan Iron and Steel will adjust the ratio of 300 series to 400 series stainless steel products] according to Jiuquan Iron and Steel Company, in order to create a more competitive iron and steel industry chain, during the 14th five-year Plan period, Jiuquan Iron and Steel Company will actively extend the industrial chain upstream and downstream, steadily enhance the independent controllable ability of the supply chain, vigorously develop products with high technology content, high added value, and high competitiveness, and at the same time speed up the expansion of strategic cooperation with downstream intensive processing enterprises. We will promote the development of industrial clusters and win-win cooperation.
[Delong Nickel Shente Iron and Steel two blast furnace capacity indicators have been completed to participate in capacity replacement work] the total capacity index of a 1250 cubic meter blast furnace and part of the ironmaking capacity index of the blast furnace actually controlled by Delong Nickel Industry has been approved by the relevant departments of the state and Jiangsu Province. The total ironmaking capacity index of the 450m3 blast furnace adds up to 1.385 million tons.
[Yunhai Metal Joint Venture Anhui Bao magnesium Light Alloy Co., Ltd. won the mining right of dolomite mine for magnesium smelting in Wujia, Qingyang County Garden] on the evening of December 24th, Yunhai Metal announced that Anhui Bao magnesium Light Alloy Co., Ltd., the company's joint venture company, in order to ensure a stable supply of raw materials for the high-performance magnesium-based light alloy project with an annual output of 300000 tons, Participated in the auction of "Qingyang Garden Wujia magnesium Dolomite Mining right" conducted by Chizhou Natural Resources and Planning Bureau. Anhui Bao magnesium Light Alloy Co., Ltd. won the mining right of Qingyang Garden Wujia magnesium Dolomite Mine with a price of 4.2271 billion yuan on December 24th, 2021.
[completion and acceptance of the high-performance rare earth permanent magnet material base project of Jinli permanent magnet wholly owned subsidiary] on December 24, Jinli permanent magnet announced the completion and acceptance of the wholly owned subsidiary high-performance rare earth permanent magnet material base project. the installation and commissioning of the main equipment has been completed and successfully commissioned, and the next step will enter the production stage. After the future project reaches production, it will gradually form a production capacity of 8000 tons / year of high-performance rare earth permanent magnet materials.
Terminal information
[Samsung Xi'an semiconductor factory enters emergency operation state or affects NAND Flash price trend] due to the impact of Xi'an city blockade and epidemic prevention measures, Samsung Electronics' local semiconductor factory has entered a state of emergency operation in order to ensure normal production. Samsung Electronics is doing its best to mobilize people living in employees' dormitories to ensure the normal operation of the production line, Yonhap news agency reported.
[the shortage of AFS: chips has reduced global automobile production by 10.272 million and is expected to reduce production by 11.31 million vehicles for the whole year.] according to the latest data of AutoForecast Solutions ((hereinafter referred to as AFS), as of December 19, due to the shortage of automotive chip supply, global automobile production has been reduced by 10.272 million, and global production is expected to be reduced by 11.31 million vehicles for the whole year of 2021. It has reduced production by 1.982 million vehicles in the Chinese market, and is expected to reduce production by 2.148 million vehicles for the whole of this year.
[online spread that "photovoltaic changes lead to a decline in distribution network investment" CITIC Construction Investment, Yangtze River and others came forward to refute the rumor.] on the 27th, there was a spread online that "the country is no longer promoting the whole county, the reason is not to make the Great Leap forward," and "at present, the biggest impact is Electroweb's distribution network investment, which is expected to drop from 1.7 trillion to 1.5 trillion." the news stirred the market. Zhu Xun, the new chief executive of CITIC Construction Power Co., Ltd., said in a circle that "a rumor is spread and a broken leg is broken". Then he refuted the rumor and said, "the country has firm confidence in the development of new energy and has recently continued to correct the practice of stopping distributed photovoltaic recording. For a few years, the overall volume of distributed photovoltaic is about 25GW, of which household consumption is 17-18GW, distributed industrial and commercial 8GW is about. Next year, the probability is 50% of the 100% growth space, and continue to be strongly bullish on distributed photovoltaic direction. " Subsequently, Changjiang Dianxin also refuted the rumor that we did not know the relevant theory, the national household and distributed promotion is still advancing rapidly. A number of Electroweb stocks bottomed out today.
[800000 groups! China Tower starts 2021-2022 Lithium Iron Phosphate Exchange Battery Collection] China Tower 2021-2022 Lithium Iron Phosphate replacement Battery (version 3.0) has met the bidding conditions, the estimated scale of this tender is 800000 groups, equivalent to 1036.8MWh. the project is a bidding project and the contract is valid for one year.
[Honda's global car production surged 81 per cent in November] Honda produced 371369 cars worldwide in November, up 81 per cent from a year earlier, of which the company produced 66433 cars in Japan, up 103 per cent year-on-year and 304936 cars overseas, up 78 per cent. That month, Honda sold 47389 cars in japan, up 92% from a year earlier, and exported 7971 cars, up 114% from a year earlier.
[Canada to increase subsidy budget for electric cars] the Canadian government is investing more money in its zero-emission vehicle incentive program (Zero-Emission Vehicles, iZEV)). Department of Transport Canada will increase its budget by $73 million to provide subsidies for the purchase of zero-emission cars by the end of March 2022. Since 2019, the total investment in the iZEV project has been close to $660 million.
[Mitsubishi Fuso bus will stop selling diesel locomotives by 2040] Mitsubishi Fuso bus company (Mitsubishi Fuso Truck and Bus) will stop selling cars with internal combustion engines between 2035 and 2040, when the company will only produce electric or hydrogen-fueled trucks and passenger cars. The company aims to catch up with Chinese and European competitors in the electric car market.
[Toyota plans to increase production in February and March next year] Toyota's global production is expected to exceed its target of 9 million vehicles in the current fiscal year (2021.4.1-2022.3.31), and the company plans to increase production in February and March. to offset production losses caused by production disruptions caused by the novel coronavirus epidemic.
[Volkswagen headquarters factory production may increase 43% next year] according to foreign media reports, Volkswagen Wolfsburg factory union president Daniela Cavallo revealed that Volkswagen's car production at its main Wolfsburg plant is expected to increase by about 43% next year. Compared with this year, the expected production of cars at the Volkswagen headquarters factory has increased significantly, but it will still be affected by the shortage of semiconductors.
[expand the company's influence in the field of new energy vehicles listed companies acquire lithium equipment companies] on the evening of December 22nd, 688529.SH announced that the company intends to buy 100% shares of Xinpu Automation held by eight trading parties, including Mao Tiejun and Tang Qianjun. After the completion of this transaction, Xinpu Automation will become a wholly-owned subsidiary of the listed company.
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