Focus today
[ Insufficient supply of natural gas to alumina enterprises ] On January 30, the gas supply from Central Asia was reduced from 120 million cubic meters to 0.7 billion cubic meters, a decrease of nearly half over the same period of last year. The impact of insufficient natural gas supply began to appear in alumina enterprises, December. Among the alumina enterprises affected by natural gas, some enterprises have reported that their natural gas supply has begun to decrease. The reduction of specific alumina production has not been quantified due to the impact of these two days.
[ Russian Aluminium: China's large aluminum producers face rising carbon costs ] RUSAL said on Monday that rising carbon prices , including anodes and coking coal, may put upward pressure on the cost of Chinese aluminum producers.
[ Trump will order tariffs on imported steel and aluminum within a few weeks ] BMI released a report saying that after the Ministry of Commerce evaluated the impact of steel and aluminum imports on national security, and in January After submitting the relevant report, “President Trump may order import tariffs and/or import quotas for such metals in the coming weeks.â€
[ Zhuye Group's net profit in 2017 increased by 168% year-on-year ] Zhuzhou Metallurgical Group released its annual report on the evening of the 6th. The company's revenue in 2017 was 13.797 billion yuan, up 8.76% year-on-year; net profit was 55.45 million yuan, up 168% year-on-year. During the reporting period, the lead and zinc industry was affected by domestic supply-side structural reforms and environmental protection policies. At the same time, global lead and zinc resources entered the supply gap cycle. The contradiction between supply and demand in domestic lead-zinc mineral raw materials market was more prominent, raw material supply was tight, and lead and zinc product prices were at Relatively high, the company's product sales revenue has increased. However, due to rising prices of raw materials, fuels, and auxiliary materials, it has a certain impact on the company's earnings.
[ Yulian Group achieved sales revenue increased by 13% year-on-year ] In 2017, Yulian Group's high-precision aluminum project was booming in production and sales. The cost advantage of coal-fired aluminum and aluminum deep processing industry chain was fully utilized, and the quality of development was greatly improved. The revenue was 36.3 billion yuan, a year-on-year increase of 13%, and tax payment was 411 million yuan. The overall growth of the company remained strong.
[2017 annual Baowu profit of about 14 billion yuan] After a full year last year, China Baowu's overall efficiency has been greatly improved, with a profit of about 14 billion yuan, doubled from the previous year; steel output exceeded 65 million tons; operating income reached 4600 More than 100 million yuan, business performance has increased significantly.
Metal and industry news
[ Jiangxi Copper Co., Ltd. Jiangtong Foundry Co., Ltd. signed the first order for New Year's export ] It was learned from Jiangxi Copper that a subsidiary of Jiangxi Copper (Dexing) Foundry Co., Ltd. and Beijing Huan Mo Technology Co., Ltd. signed a 660-ton forging contract. The establishment of a long-term strategic partnership has opened the door for the foundry company to export in 2018. The Beijing Ring Mill Technology Co., Ltd. signed this time is a group company providing professional technical services for domestic and foreign mines. In 2017, the casting company's forging ball exports exceeded the 1,000-ton mark. Among them, Beijing Ring Mill Company signed two large orders for 280 tons and 440 tons of forged balls.
[ US December copper cathode imports were 58,000 tons, exports were 0.29 million tons ] According to data released by the US Department of Commerce on Tuesday, the United States imported 57,920,732 kilograms of cathode copper in December, and imported 809,074,017 kilograms in 2017. US cathode copper exports (including re-exports) in December were 2,939,498 kg, and in 2017, 55,617,574 kg.
[Site new material 1.2 billion to build an annual production of 50 million m2 aluminum plastic film project] by the domestic vacuum insulation materials company Fujian Saite New Materials Co., Ltd. invested, with a total investment of 1.2 billion lithium battery soft aluminum film production The project was built in Liancheng Industrial Park. The project will be implemented in three phases. After the project is completed, it will form an annual production capacity of 50 million square meters of aluminum plastic film, with an annual output value of 1.4 billion yuan.
[ Vietnam's bauxite exports to China will decline in 2018 ] Global import and export data show that in 2017, Vietnam's bauxite exports to China totaled US$1,193.19 million; but according to industry news reports, bauxite The total value of exports is only 51.4% of the total value of Vietnam's mineral exports. The total value of Vietnam's bauxite exports to China is expected to fall to US$18.426 billion in 2018. "see details
[ China Minmetals achieved zero breakthrough in the export of Japan's complete set of aluminum casting and rolling mill equipment ] Recently, China Minmetals Group Co., Ltd. belongs to the company, which has signed the Ф1003×2000mm inclined aluminum with Japan's ALMET and Toyo Aluminum. Casting mill ordering project. The successful signing of the project has achieved a breakthrough in the export of China's aluminum processing equipment manufacturers to Japan's complete set of aluminum casting and rolling mill equipment, and has an important milestone for the cooperation and exchange of aluminum processing industry between China and Japan.
[ Eight steel still production is not stopped as market rumors ] Previous market rumors that on August 21, eight steel 2500m3 blast furnaces were shut down for maintenance due to equipment reasons. All production lines were also discontinued. The time for resumption of production is to be determined, and the average daily impact of molten iron is 0.6. About 10,000 tons. According to SMM research rumors, Ba Steel's 265 large-scale sintering machine accident on January 21, the raw materials were insufficient, resulting in three 2500m3 blast furnaces entering slow air operation, and did not stop the furnace. At present, the sintering machine is gradually recovering. As of yesterday, the average daily output has reached 10,000 tons (conventional 15,000 tons).
[ Wuxi Baichuan Chemical: intends to subscribe for 10 million shares of Australia Metals Tech Limited ] Wuxi Baichuan Chemical intends to subscribe to the Australian Stock Exchange listed company Metals Tech Limited (MTC) with its wholly-owned Sun Company Baichuan Chemical (Hong Kong) International Trading Co., Ltd. as the main body of subscription. The 10 million shares issued, participating in MTC, and cooperation with MTC, the total amount of subscription is about RMB 909.16 million. MT's main business includes mineral exploration and development in Canada, including exploration of lithium and cobalt mines.
[ Congolese gold government once again boosts cobalt prices ] Congolese MPs voted to cancel the terms of the tenure in 10 years, including Glencore, Randol, Luoyang Mo, Europe Companies such as Asia Resources Group, Minmetals Resources and Ivanhoe Mines operating mines and propulsion projects in Congo will immediately apply to higher mining taxes including metals such as copper, cobalt and gold, as well as a new introduction of up to 50%. The so-called windfall tax.
[ International mining giants have successively suffered huge accusations of new mining countries with policy risks ] On January 25, a local court in Zambia rejected the first quantum request, meaning that Zambia ZCCM-IH (Zanlian Copper Mine) will continue to be tried. The first quantum fraud case lawsuit, the amount of up to 1.4 billion US dollars. First Quantum's Kansanshi copper mine in Zambia is one of the largest copper mines in Zambia, with an annual output of more than 300,000 tons of copper and the first quantum holding 80%. ZCCM-IH is a minority shareholder of the Kansanshi Copper Mine and holds a 20% stake.
[ Henan's gold output ranked second in the country for 34 consecutive years ] In 2017, Henan's gold output reached 105.88 tons, breaking through the 100-ton mark for two consecutive years, maintaining the position of the second largest gold-producing province in China for 34 consecutive years, including the province. Gold mining gold 39.51 tons, smelting finished gold 66.37 tons.
[ Global gold demand fell by 7% ] The World Gold Council report showed that global gold demand in 2017 was 4071.7 tons, down 7%.
[ Global Metallurgical Completes the Acquisition of Glencore Manganese Alloy Factory ] Global Metallurgical Group announced that it has completed the acquisition of the Glennco Manganese Alloy Plant in Norway and France. After the completion of the acquisition, Glencore and the Group will continue to operate independently. The manganese mines of the two companies are The group's factory can be supplied for up to ten years.
[ Some market players are bullish on chemical grade silicon ] The monthly purchase of chemical grade silicon has basically ended. At present, domestic downstream enterprises are stocking up to late March. Since the start-up load of the silicon plant will remain low for a long time after the Spring Festival, especially in the Sichuan and Chongqing provinces, there are very few conditions for the resumption of production. Therefore, some market participants believe that in the case of the reduction of high-quality chemical-grade silicon social stocks, the Spring Festival After that, the price of chemical grade silicon is likely to rise.
In this article, the industry news is selected from the SMM member live broadcast , please download the app "handheld color", pay attention to timely market major events. 》View details of the commodity market
Although the US dollar rebounded slightly in the middle of the session, the US dollar rebounded and expanded its gains due to the stock market crash, strong risk aversion, and the US economic fundamentals remained good. It closed up at 0.14% to close at 89.709 and is currently oscillating around 89.6. Affected by risk aversion, the dollar’s ​​rise has weighed on metal prices, and metals have generally fallen, reversing previous gains. Among them, only Shanghai and Shanghai rose slightly, Shanghai Aluminum fell to 1%; the external market collectively fell, LME nickel fell more than 2% from two-and-a-half-year peak, aluminum and lead fell nearly 2%. "see details
Preview of today's financial data: the dollar may continue to pick up the basic metal or will continue to fluctuate weakly
[ Investment Banking View ] The International Copper Association recently released its outlook for the copper industry in 2018, predicting that the electric vehicle market will drive demand for copper.
[ Citigroup recommends buying assets such as metal bearish bonds ] Citigroup said that as global economic growth accelerates, inflationary pressures caused by demand are a positive factor for physical assets such as commodities, which are supported by higher production costs. Citi bears assets such as bonds.
US stocks fluctuated today. The Dow staged a "roller coaster". After a sharp fall of 500 points in early trading, it regained lost ground and eventually closed up 567 points, setting a maximum single-day point increase over two years, with an amplitude of more than 1000 points throughout the day. Oil prices fell sharply, and oil fell to a five-week low.
Terminal information
[ The 34th batch of recommended catalogue: Lithium iron phosphate accounted for 55% of the mainstream battery ] Recently, the Ministry of Industry and Information Technology released the "Recommended Models for New Energy Vehicle Promotion and Application (First Batch of 2018)" on its official website. From the battery category, the lithium iron phosphate is the mainstream, supporting 65 models, accounting for 55%; 33 yuan for ternary batteries, accounting for 28%; 7 lithium manganese oxide batteries, accounting for 6%; not marked There are 8 types of lithium-ion batteries, accounting for 7%; 3 models of fuel cells, accounting for 2%; only 2 models of multi-component batteries, accounting for 2%.
[The property market ] Recently, some banks have been concerned about the change in the attitude of the development of credit or other new real estate business, and the suspension of loans has revived. The industry said that the terminology of loan suspension is somewhat exaggerated. At the beginning of each year, banks need to adjust the credit structure and targets for the whole year. It is very common to adjust the structure of key businesses.
[The property market ] learned from the Jiangxi Provincial Construction and Construction Department that in 2018, Jiangxi Province will continue to strengthen the regulation of the real estate market, significantly increasing the proportion of rental housing in the supply of new housing. It will implement stable control target management for each district and city, especially for Nanchang City, Zhangzhou City and Jiujiang City, which enter 70 large and medium-sized cities.
[The property market ] On February 6, Nanjing conducted the first pure lease land auction, and all the 5 plots were sold at the reserve price. The total area of ​​these five plots is 17.95 hectares. The purpose of the plots is self-sustained rental housing. The property rights are 70 years and it is estimated that 380,500 square meters of rental housing can be built.
The China Securities Regulatory Commission: Jiangsu Dingsheng New Energy Materials, Jiangxi Voge Optoelectronics, Zhende Medical Supplies, Hualin Securities were first approved, Jiangsu Blue Power Environmental Protection, Zhejiang Huada new materials failed to pass.
[ Auto Market] Shanghai Economic and Information Committee: Shanghai new energy vehicle demonstration and promotion reached 165,545 vehicles, and the Shanghai car-pillar ratio increased to 1.27:1, the highest in the two countries. Among them, in 2017, Shanghai promoted a total of 61,354 new energy vehicles, an increase of more than 35% year-on-year, and achieved an output value of 23.238 billion yuan.
Macro focus
China:
The Ministry of Finance announced the fourth batch of 396 PPP demonstration projects involving an investment of 758.8 billion yuan. It is inclined to grassroots projects and key areas. The number of projects in the eastern, central and western regions is 96, 142 and 158 respectively, with an investment of 220.8 billion yuan, 195 billion yuan and 343.1 billion yuan respectively. In the key areas and weak links, there are 91 basic public service projects in agriculture and tourism, education, culture, sports and pensions, with an investment of 86.1 billion yuan, accounting for 23% and 11.3% respectively.
From January 25 to February 6, the central bank suspended the open market operation for 9 consecutive trading days, with a total net withdrawal of 1.27 trillion yuan. Despite the central bank's substantial “receipt of waterâ€, the funds are still relatively loose in the near term, and the money market interest rate is down, and the supply of funds overnight and across the Spring Festival is relatively abundant. At the same time, the data shows that the current reverse repurchase amount until the end of the first quarter is only 170 billion yuan, in addition to a total of 538.5 billion medium-term loan facilities (MLF) expired in February and March. This means that the central bank will not have much exposure to the funds in the future. However, whether the liquidity after the holiday can remain accommodative is also to examine the impact of multiple factors.
Europe and America:
For the Trump administration's recent series of unilateral trade protection measures, Adam Lubosen, chairman of the Peterson Institute for International Economics, a well-known think tank in the United States, said on the 5th that the move is not conducive to the economic development of the United States and the world. It is expected that the US trade protection policy will be even more Strict. In the next few years, China's economy will continue to grow strongly, and China is very confident that it can maintain a GDP growth rate of more than 6%.
In December, the US JOLTS job vacancy was 5.811 million, lower than the expected 5.961 million, a new low in seven months, but still at a historically high level, indicating that the US labor market is still stable. The November value was revised from 5.879 million to 5.978 million.
Last year, the US trade deficit widened by about 12%, the highest level since 2008. The trade deficit with China increased by 8.1% to a record $375.2 billion. Last week, Trump’s State of the Union Address reiterated the tough trade stance, saying that the era of economic surrender is over.
Related market
[ Coal ] It has been learned from the coal industry that the Development and Reform Commission has issued instructions for ports, coal and electric power enterprises to sell and purchase coal that is not allowed to exceed 750 yuan/ton (5500 kcal port water). Representatives of a number of coal companies said that coal is dominated by long coal, and the price can respond to the call of the National Development and Reform Commission.
[ Petroleum ] In 2017, the total profit of China's petroleum and chemical industry reappeared after three consecutive years of decline, exceeding 840 billion yuan, with a growth rate of over 51%.
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