2021SMM South China Nonferrous Metals Industry Annual meeting invites you to get together in Foshan in December!
SMM Tin Morning News: in the near future, we need to pay attention to the impact of delivery on the market, but in the current supply and demand relationship is relatively stable, spot rising water to maintain a high level, the short-term trend to maintain a high probability of shock. In the long run, demand is expected to improve, and after price adjustment, the trend of the main contract is still on the strong side.
"the price volatility is too strong, the heat weakens, and the capital leaves the market [SMM Tin Morning News]
"Click to view the price of SMM tin products
Summary of SMM Steel Morning meeting: yesterday, the price in the port spot market fell steadily in early trading. Some traders are mainly shipping, the quotation has been loosened, while the steel mills purchase on demand, the purchasing enthusiasm is not high. The spot transaction at the port is mediocre. The turnover of PB powder in Shandong and Tangshan was flat, both at 590-595 yuan / ton, down 5-10 yuan / ton compared with yesterday. SMM analysis, steel downstream demand is weak, trading volume remains low, superimposed crude steel reduction task is about to be completed, steel plant operating rate is still weak in the short term.
"profits of basic landing steel mills continue to pick up in the fifth round of coke price reduction of 200 yuan / ton [minutes of SMM Iron and Steel Morning meeting]
"Click to view the price of SMM steel products
Summary of SMM Cobalt Lithium Morning meeting: according to Shanghai Insurance data, sales of new energy vehicles in October were 290800, down 10.3% from the previous month. Among them, a total of 237100 pure electric models were sold, accounting for 81.53%, a year-on-year increase of 124.1%. In terms of electrolytic cobalt, the domestic price of electrolytic cobalt is discounted compared with overseas prices and upside down compared with the price of raw material cobalt intermediate products, and the production power is very low. Spot transactions are sporadic except for long orders from suppliers; lithium carbonate prices have risen slightly this week.
Sales of new energy vehicles fell month-on-month in October. Lithium carbonate gap is difficult to fill and prices rise [minutes of SMM Cobalt Lithium Morning meeting]
"Click to view the price of SMM cobalt lithium products
Macro aspect:
Fed Evans said it is not expected to complete the debt reduction until the middle of next year, when it will consider when to raise interest rates. Investors adjusted their bets on a rate hike by the central bank in the face of rising price pressures, and the dollar fell from near a multi-day 16-month high on Wednesday. The market has priced in the possibility that the Fed could raise interest rates in June and then raise rates again in November. The likelihood of raising interest rates by 25 basis points by July 2022 is 50 per cent, according to Chicago Mercantile Exchange data. In addition, on Tuesday, U.S. Treasury Secretary Yellen again called on Congress to raise or suspend the debt ceiling as soon as possible, as it expected that unconventional measures of the Ministry of political Affairs would be exhausted on December 15, and the U.S. government shutdown crisis was looming again. Crude oil:
For crude oil, oil prices fell sharply on Wednesday, with cloth settlement prices falling to their lowest level since early October and US Oil falling to its lowest level since Oct. 7. The main reason is that Biden discussed the possibility of teaming up with foreign countries to release crude oil reserves at a virtual meeting earlier this week, and Biden asked the Federal Trade Commission ((FTC)) on Wednesday to investigate whether the rise in retail gasoline prices is illegal. And after the Organization of Petroleum Exporting countries (OPEC) and the International Energy Agency also warned that the oil market is about to be oversupplied, the increase in the number of novel coronavirus cases in Europe has increased the downside risks to the recovery of oil market demand.
Today's macro focus is on data such as the number of initial jobless claims in the United States in the week ending November 13 and the total fuel inventory in Singapore in the week ending November 17.
"go to the SMM database to see more macroeconomic indicators
"[macro outlook] Today, we focus on the data such as the number of people applying for unemployment benefits in the United States that week.
In terms of the metal market:
Spurred by the news last week that US CPI rose at its highest level since 1990 in October, the US dollar has been hovering near its 16-month high, putting some pressure on the operation of the metal market. The US retail sales data for October released on Tuesday grew faster than expected, pushing the dollar to a 16-month high again, and the metals market continued to come under pressure. Lun Copper led the decline in both markets with a 1.74% drop on Wednesday. The lead price also recorded the fourth consecutive trading day's decline under the background of the recent long-short divergence in the market and the continuous split of domestic and foreign inventories, closing below the support level of 15000 yuan / ton and continuing to decline, hitting a new low in nearly a month. In the outer market, with the exception of Lun copper, both Len zinc and lun lead fell more than 1%.
"[overnight market] Metals rise and fall each other. Shanghai lead has hit a new low in nearly a month | Oil prices have plummeted to a 6-week low.
"Click to view the price of SMM nickel products
"Click to view the price of SMM copper products.
"Click to view the price of SMM aluminum products
"Click to view the price of SMM lead products
"Click to view the price of SMM zinc products
Us stocks closed lower on Wednesday, with the Dow leading the way with a drop of 0.58 per cent. Investors are weighing strong earnings and inflation data from retailers such as Lloyd's and focusing on the looming US government shutdown crisis and the nomination of Fed chairman. The Dow fell 211.17 points, or 0.58%, to 35931.05; the Nasdaq fell 52.28 points, or 0.33%, to 15921.57; and the S & P 500 fell 12.23 points, or 0.26%, to 4688.67.
[SMM research: review 2021 prospects for 2022 Analysis of all links of the copper industry chain long unit price] unwittingly 2021 has entered the end of the year, the upstream and downstream customers of the copper industry chain will also conduct long order negotiations in the new year. SMM Copper Research Group summarizes and forecasts the long order prices of all links of the copper industry chain in order to have a general understanding of the trend of the copper industry chain in the coming year. Details of the analysis can be found below. "View details
[SMM analysis: copper strip subdivision category and application] Copper strip is one of the areas with the highest barriers in the copper processing industry, and its processing fee belongs to one of the higher categories in the copper processing industry. Copper strip can be divided into copper strip, brass strip, bronze strip and white copper strip according to color, raw material type and proportion. According to the different properties of copper strip, it can be used in different fields and the scope of application is extremely scattered. "View details
[SMM aluminum rod processing fee daily review: aluminum rod processing fee rises again downstream receiving strength weakens] SMM November 17: Shandong 1A60pu aluminum rod processing fee today 1A60pu aluminum rod processing fee 1200-liter water 1250 yuan / ton, the average price recorded 1225 yuan / ton, up 175 yuan / ton compared with yesterday, Henan 1A60 aluminum rod processing fee is 900-1000 yuan / ton. "check the details.
[SMM analysis: demand suppression affects what happens in the future when solder starts with high tin prices] although there is no sign of improvement in solder start-up in the short term, the long-term stable pattern has not changed, considering that overseas markets are gradually coming out of the epidemic, affecting demand and the price elasticity of solder itself due to industrial characteristics. "check the details.
[nickel sulfate spot market week (middle) comment: the nickel sulfate market operates smoothly, the transaction is light, the operation situation is not broken] the nickel price has fluctuated down from 148000 yuan / ton at the beginning of the week to 142000 yuan / ton this week. Nickel prices fell black and macro sentiment under the influence of no obvious long and short factors. Under the weak operation of nickel price, the premium of battery-grade nickel sulfate compared with nickel bean is currently up to 18500 yuan / ton. The market price of nickel sulfate is still under pressure. In addition, it has not yet arrived at the purchasing node. "View details
[SMM concern: fire broke out at the Sulawesi Nickel smelter in Southeast Indonesia] at 4: 00 p.m. on November 16, a fire broke out in a nickel-iron smelter at the Sulawesi Nickel smelter in southeastern Indonesia. According to sources, the furnace is located in Konawe, and belongs to the PT.Obsidian stainless Steel Plant. It is understood that the fire currently affects only one smelting furnace production. Under normal production, the output of a nickel-iron production line is expected to be 650 nickel tons per month, with little impact. "check the details.
[SMM Analysis: the $1.7 billion South American project on Mount Qomolangma in Tibet has been officially launched! SMM, November 17: on the afternoon of November 16, 2021, the domestic lithium resources giant Mount Everest of Tibet and the government of Salta Province of the Republic of Argentina formally signed the Investment Agreement on Salta Salt Lake Resources industrialization Development Project (hereinafter referred to as "Investment Agreement") at the 14th China-Latin American Entrepreneur Summit (hereinafter referred to as "Summit"). This also heralds the official launch of two salt lake development projects with a total planned investment of US $1.7 billion in Argentina. "check the details.
[Foshan stainless steel daily review: steel mill price reduction market sentiment again pessimistic] SMM November 17: today the spot prices of stainless steel all series have fallen by varying degrees after a large steel mill in South China issued the offer price yesterday. 304cold rolling high reduced by 300yuan / ton, 201 market price reduced by 400yuan / ton. "check the details.
[SMM Daily Review: insufficient demand and supply increases the price of high-carbon ferrochromium falls below 10,000 yuan] on November 17th, Inner Mongolia's high-carbon ferrochromium quotation is 9700-10000 yuan / 50 base tons, and the iron factory quotation continues to decline; the recent power cut has decreased, the output of high-carbon ferrochromium has increased, and the output growth of steel mills has been limited. Coupled with the recent continuous decline in stainless steel prices, network steel mills have plans to reduce production and guarantee prices, and the supply and demand of ferrochromium is insufficient. The mineral prices of coke and South African fine powder have fallen, and costs have fallen, leaving room for a fall in iron prices. "View details
[SMM Coke spot Daily Review: the fifth round of coke price reduction 200 yuan / ton basically landed] SMM November 17 coke, supply side: the current mainstream steel mills have carried out the fifth round of coke purchase price reduction of 200 yuan / ton, a cumulative price reduction of 1000 yuan / ton, primary metallurgical coke-dry quenching 3720 yuan / ton; quasi-primary metallurgical coke-dry quenching 3490 yuan / ton; primary metallurgical coke 3160 yuan / ton; quasi-primary metallurgical coke 3030 yuan / ton. The continuous decline in coke prices has led to a decrease in the production enthusiasm of coke enterprises, and the coke shipment is not ideal, and the coke inventory pressure has increased. "View details
SMM hot spot analysis: what is the current situation of cost support behind the steel price plunge of 1000 yuan? Recently, the prices of black steel from iron ore and coal to rebar and hot rolling have plummeted across the board. According to SMM statistics, the mainstream transaction price of thread in Hangzhou market has dropped from the highest price of 5980 yuan / ton on October 11 to 4630 yuan / ton on November 15, while the price of hot-rolled coil in Shanghai market has dropped from a peak of 5880 yuan / ton on October 9 to 4700 yuan / ton on November 16. Steel plummeted nearly 1400 yuan within a month, steel mills and traders' profits narrowed or even lost money, and market bearish sentiment continued to spread. "View details
[SMM blast furnace operating rate: long process gradually return to profitability blast furnace operating rate is stable] according to SMM research, the blast furnace operating rate counted by SMM was 79.49% on November 17th, which decreased by 0.17% and rebounded by 1.03% month-on-month. This week, some blast furnaces in North China were opened for maintenance, while individual blast furnaces in Northeast China resumed production, and the overall operating rate was basically stable. "check the details
[SMM Manganese Mine Daily Review: the increase in miners' costs is obvious in the upstream and downstream game] November 17, today's manganese mine high consolidation operation. Affected by the weakening demand of steel mills, downstream manganese alloy prices continue to fall, profit margins narrow, while mineral prices remain high, the price reduction is not obvious, so the downstream is more cautious about mining. SMM believes that the current port inventory remains high, and the demand for manganese ore from alloy mills is not urgent, and there may be room for manganese ore prices to fall in the future. "check the details.
[SMM Silicon and Manganese Market Daily Review: the spot market of silicon and manganese is not ideal. The high-priced raw materials of the iron factory still exist] November 17, the northern market silicon manganese 6517 (cash) 8350-8650 yuan / ton, the southern market silicon manganese 6517 (cash) 8550-8850 yuan / ton. In the spot market, production costs have fallen in all parts of the country, but manufacturers still have high-priced raw materials, and the cost drop is limited in a short period of time, but the spot price in the market has fallen by a large margin, although some ironworks still have profits at present. "check the details.
[SMM Daily Review: the price difference between non-oxygenated 55 silicon holders and oxygenated 55 silicon carriers is determined to narrow] November 17, East China unventilated 55 silicon in 25500-26000 yuan / ton, oxygen-ventilated silicon in 26500-27500 yuan / ton, the price difference between the two shrank to 1250 yuan / ton from 2250 yuan / ton on Monday, and individual sources even showed that the price was the same. "check the details.
[SMM Science Popularization: small Metal Science Popularization Molybdenum Trilogy (Middle)-Molybdenum status] in the last issue, we introduced the characteristics and distribution of molybdenum in detail. This week we will continue with the current situation of molybdenum in the trilogy of molybdenum: mainly introduce the current specific application of molybdenum and the current domestic market. "check the details.
[SMM analysis: hot and cold alternation of magnesium market] SMM on November 17th:. Early customers who wait and see choose to enter the market, market trading volume is rapidly rising, magnesium prices have risen sharply, and daily prices have risen by 2000 yuan / ton. "View details
"Click to view the price of SMM rare earth products.
The double control of energy consumption limits the production of aluminum enterprises to expand the recycled aluminum industry to usher in the spring? With the implementation of carbon peak and carbon neutralization, the state has responded positively to the introduction of various energy consumption double control policies since October. The aluminum industry, as a high energy-consuming industry, the most direct manifestation of the impact of production and power restrictions is the reduction of production capacity of aluminum enterprises. And the stranding of production expansion plans. "check the details.
[Thailand makes final Anti-dumping judgement on China-related tinplate coils] Thailand's dumping and subsidy Review Committee recently issued a notice saying that it made an anti-dumping final judgment on tinplate coils originating in mainland China, Taiwan of China, the European Union and South Korea, and decided to impose anti-dumping duties on products from mainland China, Taiwan, the European Union and South Korea based on the CIF price (CIF). The anti-dumping duty on the products involved in mainland China is 2.45% Mel 17.46%.
[Li Keqiang: the shortage of energy supply such as electricity and coal has been effectively alleviated and guaranteed in the future] Premier Li Keqiang of the State Council attended a special dialogue on global entrepreneurs of the World Economic Forum at the Great Hall of the people on the evening of November 16. deliver a speech and interact with entrepreneurs' representatives. When talking about the issue of energy supply, Li Keqiang said: in view of the shortage of energy supply such as electricity and coal in the previous period, we have taken a series of measures to strengthen the guarantee of energy supply, which has been effectively alleviated at present and will be guaranteed in the future. We will proceed from the reality of our national conditions and promote low-carbon transformation in a balanced and orderly manner on the premise of ensuring a stable and safe supply of energy. He also answered questions on green development, medical and health care, and urbanization.
Li Keqiang presided over an executive meeting of the State Council and decided to set up special re-loans to support the clean and efficient use of coal to promote green and low-carbon development. The meeting decided to set up a special re-loan of 200 billion yuan to support the clean use of coal on the basis of the early establishment of financial support tools for carbon emission reduction.
[national standing Committee: set up another 200 billion yuan to support coal clean utilization special re-loan] on November 17, Li Keqiang presided over an executive meeting of the State Council and decided to set up a special re-loan to support clean and efficient coal utilization to promote green and low-carbon development. The meeting decided to set up a special re-loan of 200 billion yuan to support the clean use of coal on the basis of the early establishment of financial support tools for carbon emission reduction.
[the trend of coal prices at home and abroad is very different to ensure the effectiveness of coal supply. Peak coal prices in winter are difficult to rebound.] recently, the global power crisis has pushed up US coal prices to their highest level in more than 12 years. However, with the continuous improvement of the supply and demand situation of thermal coal in China, the center of gravity of coal prices continues to fluctuate downward. Market participants said that the winter coal consumption peak is about to enter, but with the gradual implementation of policies and measures, the contradiction between supply and demand in the thermal coal market has been greatly alleviated. After the continuous decline in coal prices, it is expected that the short-term trend will be mainly shock bottom.
[Shandong Weida: steel price fluctuations will have a certain impact on the company's product manufacturing costs] Shandong Weida disclosed the change announcement that the main raw materials of the company's products are steel, which accounts for a high proportion of the company's product costs. Affected by multiple factors, commodity prices have fluctuated greatly in the past year, and the fluctuation of steel prices will have a certain impact on the company's product manufacturing costs.
[statistics Bureau: China's steel production in October was 18.917 million tons, down 20.6 percent from the same period last year.] according to the latest data from the National Bureau of Statistics, China's steel production in October was 18.917 million tons, down 20.6 percent from a year earlier. The cumulative output from January to October was 214.123 million tons, down 1.8 percent from the same period last year. In October, China produced 11.743 million tons of wire rod (wire rod), down 22.9 per cent from a year earlier. X cumulative production from January to October was 13212.7 tons, down 4.8 per cent from a year earlier.
[the cumulative national production of crude steel decreased by 0.70% from January to October compared with the same period last year] the China Iron and Steel Association released the national steel output in October 2021. From January to October, the cumulative decline of crude steel and Nissan was 0.70% and 0.37% respectively; that of pig iron was 3.20% and that of Nissan was 2.88%; that of steel products was 2.80% and that of Nissan was 3.14%.
[Ministry of Industry and Information Technology: steel prices have fallen sharply recently] recently, the Ministry of Industry and Information Technology released data on the operation of the iron and steel industry from January to October 2021. Data show that steel prices continue to fall. Affected by the decline in raw fuel prices and other factors, steel prices have fallen sharply recently.
[AVIC Lithium raised its target production capacity by 2025 to 500GWh 2030 1TWh] November 17, AVIC Lithium CALB strategy conference was held in Changzhou, Jiangsu Province. At the meeting, AVIC Lithium raised its target power battery capacity to 500GWhh in 2025 and is expected to reach 1TWh in 2030. "View details
Lithium mining stocks are in full bloom! These good news stimulated the rise and stop of nearly 16 shares, including Mount Qomolangma and Tianqi Lithium Industry in Tibet. Trading opened this morning, and lithium mining stocks were in full bloom until around 10:30, including Mount Qomolangma and Yongxing Materials in Tibet. Tianqi Lithium Industry, Rongjie shares and other shares rose by the daily limit. Sheng Xin Li Neng, Jiuwo Hi-Tech and other stocks rose more than 7%. In the afternoon, the lithium battery plate did not change its previous growth trend and continued to rise. By the end of the day, in addition to the above-mentioned stocks that closed the trading limit in the morning, there were nearly 12 stocks, such as Shengxin Lithium Energy, Koda Manufacturing, China Mineral Resources, and so on. Lithium battery plate "king return", once again set off a huge rising tide! "View details
[big players "scramble" for lithium hexafluorophosphate supply gap will continue] there may not be any lithium material that can make battery giants so crazy. BYD has gone crazy with the purchase of lithium hexafluorophosphate. On November 15, Duofuoduo announced that the company signed an agreement with Shenzhen BYD supply chain Management Co., Ltd. (hereinafter referred to as BYD supply chain Company) from January 2022 to December 2025. BYD supply chain company purchases lithium hexafluorophosphate products with a total quantity of no less than 56050 tons. "View details
[Mount Qomolangma, Tibet: the Angeles Salt Lake project is still in the preliminary development preparation stage] on November 17, the company announced that the company recently signed the Investment Agreement on the industrialized Development Project of Salt Lake Resources in Salta Province with the government of Salta Province of the Argentine Republic. The company and its subordinate companies will invest about 700 million US dollars in Argentina in 2022 to build an annual production capacity of 50,000 tons of lithium carbonate products in the Anheles Salt Lake in Salta Province. Construction of the project is scheduled to begin by the end of 2021 and is expected to be completed by the end of 2022. The company prompts the risk that at present the company's Angeles Salt Lake project is still in the preparatory stage of development and can not achieve benefits in the short term.
[Hebei Baoding signed eight new energy storage agreements with a total investment of 10 billion yuan] on November 17, Baoding City, Hebei Province recently held a docking exchange meeting and project signing ceremony for the new energy storage industry. Eight new energy storage cooperation agreements with a total investment of 10 billion yuan were signed on the spot to help build the city's "carbon neutral industry capital". Among them, Ke Liyuan Holdings and Baoding Municipal people's Government signed the "Baoding Municipal people's Government Guangdong Ke Liyuan Hi-Tech Holdings Co., Ltd. Strategic Cooperation Framework Agreement". According to the agreement, the people's Government of Baoding City will support Ke Liyuan Holdings to jointly build a demonstration project of "Nickel-hydrogen and Lithium mixed Storage Mathematical Energy system" to create an industry benchmark in the field of energy storage. At the same time, relying on the technical advantages and demonstration effects of the mixed storage system, Baoding will support Ke Liyuan Holdings to open up the energy storage market, build a distributed photovoltaic hybrid energy storage integration project, and promote and apply it on the user side.
[two major salt lake development projects signed between Mount Qomolangma in Tibet and the government of Salta Province in Argentina were officially launched] on November 16, at the 14th China-Latin American Entrepreneur Summit, Mount Qomolangma in Tibet and the government of Salta Province in Argentina formally signed the Investment Agreement on the industrialization Development Project of Salt Lake Resources in Salta Province. The signing of the investment agreement marks the official launch of two salt lake development projects with a total planned investment of US $1.7 billion in Argentina for Mount Qomolangma in Tibet. According to the investment agreement signed this time, Mount Qomolangma in Tibet and its subsidiary companies will invest about US $700 million in 2022 to build an annual production capacity of 50,000 tons of lithium carbonate products in the Anheles Salt Lake in Salta Province. the project is scheduled to start construction by the end of 2021 and is expected to be completed by the end of 2022. At the same time, Mount Qomolangma in Tibet will invest US $15 million to complete the geological exploration of Arizaro Salt Lake in Salta Province in 2022, obtain mining rights and (EIA); environmental assessment permits, and plan to invest no less than US $1 billion to build an annual production capacity of 5 to 100000 tons of lithium carbonate products in Arizaro Salt Lake. "View details
[Citic Construction Investment: strong demand for Lithium and Nickel continues] on November 17, CITIC Construction Research News pointed out that the demand for power batteries for new energy vehicles is growing rapidly, and the lithium demand for 21-22 years is expected to be 610000 tons and 800000 tons respectively, with a gap of 43000 tons and 57000 tons respectively. The permeability of new energy vehicles continues to exceed expectations, and the upstream lithium resources are expanding at a rate that is difficult to meet the demand for battery materials downstream. It is suggested to focus on Ganfeng lithium industry, Shengxin lithium energy, Rongjie shares and Tianqi lithium industry. Global demand for primary nickel is expected to be 2.52 million tons in 2022, an increase of 8% over the same period last year. The surplus of primary nickel in 2022 has narrowed by 50, 000 tons, and nickel prices are expected to maintain an upward trend. It is recommended to focus on Huayou Cobalt and Shengtun Mining.
[Bertre: domestic customers such as Ningde era and BYD] on November 17, Bertre announced that at present, both the new energy vehicle and the energy storage market are in a stage of high growth, and the demand has a trend of further acceleration. the company has corresponding land reserves in Huizhou, Tianjin, Changzhou and other bases, and can start new production expansion plans at any time according to market demand. The company's customer structure is relatively stable, and at present, it is mainly overseas customers such as Panasonic, Samsung, SKI, LG, while the domestic customers are mainly customers such as Ningde Times and BYD, which is closely related to the key customer strategy that the company has been adhering to. We hope to better bind and serve high-quality head customers and grow together with customers.
[overseas Mining Trends] according to foreign media reports, SRG Global has signed seven contracts with the asset services departments of a number of first-tier customers, including Rio Tinto (Rio Tinto), Royshan (Roy hill) and Western Australian Gold Company. It is reported that the total value of the contract is US $110 million, including services in the areas of iron ore, nickel, cobalt and alumina. The new project consists of three three-year contracts, two one-year extensions of existing contracts and two 18-month contracts. It signed a three-year contract with Mount Roy to provide downtime maintenance services for its iron ore business in Pilbara. It is understood that, SRG Global is an engineering-led group that integrates global professional assets, mining and construction services. Its scope of service covers the entire construction cycle of engineering, construction and maintenance.
[overseas Mining Trends] Mining revenue in the Brazilian state of Bahia rose 53 per cent year-on-year to US $477 million in the third quarter, which was mainly due to the opening of the Bahia Minera ã o (Bamin) iron ore mine this year, while local logistics improvements driven by railway expansion also boosted revenue in the quarter. In the first half of 2021, Bamin was awarded the Fiol railway concession, which connects the Bamin mining area to the Porto Sul port. At the same time, the Brazilian mining company asked the Ministry of Infrastructure to authorize the construction of a 120-kilometer railway to improve the railway transport system in the state of Bahia.
[OPEC expects the global oil market to be oversupplied as soon as next month] the Organization of Petroleum Exporting countries ((OPEC)) said that as the economic recovery after the outbreak stalled, the global oil market would change from undersupply to oversupply as soon as next month. OPEC Secretary General Mohammad Barkindo said this outlook means that it is reasonable for OPEC to increase production only at a moderate pace. The comments once again show that OPEC and its partners will continue to resist US pressure to accelerate production and will stick to their earlier strategy at a meeting early next month.
[national Electroweb: strengthening the service and management of units connected to the grid and promoting the coordination and distribution of all kinds of units] on November 17th, the National Electroweb Co., Ltd. held a meeting of the leading group on emergency supply. Xin Baoan, chairman of the company and secretary of the party group, presided over the meeting and delivered a speech. Xin Baoan stressed that it is necessary to generate forces from the power generation side, the Electroweb side, and the demand side, and go all out to ensure safety, power supply, people's livelihood and key points. Strengthen the service and management of units connected to the grid, promote all kinds of units to be combined and dispatched, effectively tap the potential of power generation and improve the peak generating capacity of units. Give full play to the advantages of Electroweb, carefully organize scheduling and operation, and do a good job of mutual assistance between networks. Adhere to the principle of "giving priority to demand response, ensuring the bottom of electricity use in an orderly manner, and saving power", and do a good job in the "combination of power supply". Implement the policy of electricity price reform, do a good job of purchasing electricity by agency, and ensure the stability of power supply and consumption. Pay attention to the electricity demand of key customers such as "coal to electricity", continuously optimize the service mode, and improve the service level. We will further do a good job in positive publicity, advocate giving priority to saving, saving energy and reducing consumption, and create a good environment for ensuring supply.
[Yunhai Metal: joint venture Anhui Bao magnesium plans to participate in the bidding for mining rights] November 17, Yunhai Metal announcement, the company's joint venture company Anhui Bao magnesium Light Alloy Co., Ltd. in order to ensure a stable supply of raw materials for high-performance magnesium-based light alloy project with an annual output of 300000 tons, decided to participate in the auction of "Qingyang Garden Wujia magnesium Dolomite Mining right" conducted by Chizhou Natural Resources and Planning Bureau. The mining rights sold this time involve a total ore volume of 1.3197813 billion tons in the whole mining area, with a listing starting price of 4.222 billion yuan.
The crisis of US government shutdown is approaching again. Treasury Secretary Yellen warned on Tuesday that unconventional Treasury measures are expected to be exhausted on December 15 and again called on Congress to raise or suspend the debt ceiling as soon as possible so as not to run out of cash.
Inflation, tighter monetary policy and cyber attacks could increase systemic risks to the US financial system, as well as a new variant of novel coronavirus, the Office of Financial Research of the US Treasury said on Wednesday.
According to CME "Fed Watch", the probability of the Fed keeping interest rates in the range of 0% won 0.25% in December is 100%, and the probability of raising interest rates by 25 basis points is 0%. The probability of keeping interest rates in the range of 0% won 0.25% in January next year is 97.5%, and the probability of raising interest rates by 25 basis points is 2.5%. In March next year, the probability of keeping interest rates in the 0.5% range is 82.4%, the probability of raising interest rates by 25 basis points is 17.2%, and the probability of raising interest rates by 50 basis points is 0.4%.
[Biden signs $1.2 trillion Infrastructure Bill Ministry of Foreign Affairs: happy to see the United States making greater Development] on November 17, US President Joe Biden formally signed the previously passed $1.2 trillion infrastructure bill on the day of the meeting between the heads of state of China and the United States. White House spokesman Pusaki said that the meeting between the heads of state of China and the United States is a good opportunity for the United States to establish a competition clause with the Chinese side. Zhao Lijian said: how the United States develops itself is an internal affair of the United States. I have worked in the Chinese Embassy in the United States for many years. I have some understanding of the situation in the United States, and we are glad to see that the United States has made greater progress. China's goal has never been to surpass or replace the United States, not to compete with the United States if you lose or win, but to constantly surpass yourself and become a better China so that the Chinese people can live a better life.
[Treasury Secretary Yellen: the United States may default soon after December 15] U.S. Treasury Secretary Janet Yellen said on Tuesday that if no action is taken to raise the federal borrowing limit, the federal government may default on its debt soon after December 15.
[Li Keqiang attends the Special Dialogue on Global entrepreneurs of the World Economic Forum] Premier Li Keqiang of the State Council attended the Special Dialogue on Global entrepreneurs of the World Economic Forum in the Great Hall of the people on the evening of November 16, delivered a speech and exchanged views with representatives of entrepreneurs. Li Keqiang introduced China's current economic situation. He said: since the beginning of this year, we have made overall efforts to promote epidemic prevention and control and economic and social development, and the economy as a whole has continued to recover. At the same time, we are also facing new downward pressure. As the largest developing country in the world, the fundamentals of China's long-term economic improvement have not changed. The main body of China's market has grown to 150 million, driving more than 700 million people to work. This is where the resilience and vitality of China's economy lies, and it also strongly supports the basic market of employment. We will stabilize macroeconomic operation, persist in "flooding", continue to formulate and implement macro policies to meet the needs of market players, timely introduce and implement combined measures to reduce taxes and fees, and deepen the reform of management and service. we will greater stimulate the vitality of market players and the endogenous driving force for development, and help market entities, especially large and wide-ranging small and medium-sized and micro enterprises, tide over the difficulties. In accordance with the requirements of based on the new development stage, implementing the new development concept, building a new development pattern, and promoting high-quality development, we will strengthen cross-cycle regulation to ensure that the economy operates within a reasonable range.
[Japan will provide subsidies of nearly 100 billion yen to domestic car battery factories.] according to Nikkei Chinese website on November 17, the Japanese government will set up new subsidies to support the construction of cutting-edge battery factories centered on vehicle batteries. It will include about 100 billion yen in the 2021 supplementary budget.
[statistics Bureau: output of China's four major household appliances fell 3 and 1 increased in October] according to the National Bureau of Statistics, in October, China produced 14.549 million air conditioners, an increase of 6.0 percent over the same period last year, with a cumulative output of 180.924 million units from January to October, an increase of 12.3 percent over the same period last year. The output of refrigerators in October was 7.636 million, down 13.5% from the same period last year. The cumulative output from January to October was 74.122 million, an increase of 0.3% over the same period last year. The output of washing machines in October was 7.668 million, down 8.7% from the same period last year. The cumulative output from January to October was 69.685 million, an increase of 12.4% over the same period last year. The output of color TV sets in October was 17.592 million, down 5.5% from the same period last year. The cumulative output from January to October was 148.89 million, down 4.9% from the same period last year.
Photovoltaic industry welcomes great benefits again! Us Court resumes tariff exemption for double-sided solar modules] on November 16th, the US International Trade Court ((CIT)) officially announced the resumption of tariff exemption for double-sided solar modules and reduced the tariff rate of Article 201 from 18% to 15%. After these two changes, the additional duties previously imposed will be refunded to the relevant companies. "View details
[lack of core led Volkswagen to suspend production of electric cars in Germany this week] according to foreign media reports, Volkswagen's factories in (Zwickau) and Dresden (Dresden) in Germany will suspend production of electric vehicles this week due to a shortage of chips. A Volkswagen spokesman confirmed that two Volkswagen plants in Saxony have stopped producing electric cars for a week due to a lack of semiconductors. The shutdown is expected to result in the loss of 5000 Volkswagen electric vehicles, including Volkswagen, Audi and Cupra. "View details
[Ningde Times provides Ternary Lithium Iron Phosphate batteries to Hyundai] in response to the rumor that "Ningde Times has set up a branch in South Korea to provide support for the supply of Hyundai cars," a person familiar with the Ningde era told Science and Technology Innovation Board Daily, "the situation is true. Both ternary and lithium iron phosphate batteries are in supply."
[CICC: the proportion of China's passenger car exports is expected to reach 35% in 2050] China International Capital Corporation pointed out that the penetration of new energy vehicles in the global mainstream market will break through the 10% critical point in 2022 and will enter the steep stage of the S-shaped growth curve. China is one of the main markets and producers in the world. We estimate that the penetration rate of China's new energy passenger car 2025exp 30 / 50 will reach 30%, 61% and 90%, respectively, and the corresponding output will be 747amp 1736 / 36.29 million. From a big automobile country to an automobile power, Chinese car companies are expected to enjoy the dividends of energy transformation, industrial upgrading and technological innovation, and realize the globalization of Chinese brands. We estimate that the proportion of China's passenger car exports is expected to reach 35% in 2050, and the leading independent car companies will open up room for long-term growth.
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