China Passenger Car Association: In July, the retail sales of the broad passenger car market reached 1.732 million units, a year-on-year decrease of 3.1%
According to the data from the China Passenger Car Association, the retail sales of the broad passenger car market in July was 1.732 million, a year-on-year decrease of 3.1%. This year's overall automobile exports continued the strong growth of last year. In July, customs statistics showed that automobile exports were 553,000 units, a year-on-year increase of 26% and a month-on-month increase of 14%; the export value was US$9.99 billion, a year-on-year increase of 14% and a month-on-month increase of 14%. From January to July, the cumulative exports were 3.48 million units, an increase of 25.5%, and the export value was US$65.1 billion, an increase of 18%.
In July, the domestic lithium carbonate production was 65,500 tons, a decrease of 2.1% from the previous month.
In July 2024, the domestic production of lithium carbonate was 65,500 tons, a decrease of 2.1% from the previous month. In June, the seasonal increase in production in Qinghai continued, the production line maintenance in Sichuan was completed, and the flexible production lines of some companies increased production. In addition, the operating rate of the leading customer supply manufacturers in Jiangxi was relatively full, and the production of some small factories was reduced due to maintenance. The neutralization and recycling end and the OEM smelters decreased slightly. The overall output decreased by 2.1% from the previous month. In August 2024, the estimated domestic production of lithium carbonate is 60,900 tons, a decrease of 6.9% from the previous month. Due to the current price-cost inversion, some external raw material production companies in Jiangxi are expected to reduce production in August. Coupled with the reduction in orders from OEM companies, the lithium salt production in July is expected to decrease by 6.9% month-on-month. (Mysteel)
Singapore fuel oil stocks rose by 172,000 barrels to a two-week high of 19.727 million barrels.
Enterprise Singapore (ESG): In the week ending August 7, Singapore's fuel oil inventories rose by 172,000 barrels to a two-week high of 19.727 million barrels; Singapore's light distillate inventories fell by 327,000 barrels to a four-week low of 14.071 million barrels; Singapore's middle distillate inventories increased by 640,000 barrels to a three-year high of 11.993 million barrels.
India expected to maintain sugar export restrictions
According to foreign media reports, market participants said that India will maintain sugar export restrictions to ensure adequate domestic supply and increase the country's ethanol production. They said the government wants to ensure sufficient sugar for the local market at a reasonable price and use more sugarcane to produce ethanol. Due to poor production, India introduced a sugar export quota system in the year ending September 2023, limiting shipments to around 6 million tons, compared with a quota of 11 million tons a year ago. Indian Prime Minister Narendra Modi aims to increase the proportion of ethanol in blended gasoline to 20% by October 2026, which is one of the reasons for continuing the restrictions.
UAE suspends activities of 32 gold refineries to combat financial crime
According to foreign media reports, the UAE has suspended the activities of 32 gold refineries. According to a statement from the Ministry of Economy, the government is "intensifying inspection activities at factories" to combat financial crimes. The closed factories account for about 5% of the UAE's gold industry and will be shut down until October 24. Officials have determined that these factories have committed a total of 256 violations, including failure to take necessary measures to identify risks and failure to check customer and transaction databases against names on terrorist watch lists. According to a report in May this year by Swiss development and aid organization Swissaid, two-thirds of the gold imported from Africa to the UAE in 2022 was smuggled, most of which was re-exported to other countries. Switzerland has previously expressed concerns about illegal gold shipped from the UAE.
Shanghai Futures Energy has taken regulatory measures to restrict opening positions for some customers
SHFE Energy announced that the account group's intraday opening trading volume of the ×× Fund (85061372) group (account group number: B6003990) on the 2504 contract of the Container Shipping Index (European Line) Futures on August 8, 2024 exceeded the limit and reached the processing standard of the Shanghai International Energy Exchange for the first time. The above-mentioned customer's trading behavior violated Article 16 of the "Shanghai International Energy Exchange's Abnormal Trading Behavior Management Rules". SHFE Energy decided to take regulatory measures against the relevant customers to restrict their opening of positions on the corresponding contracts for 5 trading days.
Statistics on thread production and inventory as of August 8
According to Mysteel, as of the week of August 8, rebar production fell for the sixth consecutive week, factory inventory decreased for the second consecutive week, social inventory decreased for the fifth consecutive week, and apparent demand decreased for the fourth consecutive week.
① The output of threaded steel was 1.6854 million tons, a decrease of 292,100 tons from last week, a decrease of 14.77%;
② The thread factory inventory was 1.8502 million tons, a decrease of 61,300 tons from last week, a decrease of 3.21%;
③ The social inventory of rebar was 5.3513 million tons, a decrease of 160,900 tons from last week, a decrease of 2.92%;
④ The demand for threaded steel was 1.9076 million tons, a decrease of 248,600 tons from last week, a decrease of 11.53%.
National Grain and Oil Information Center: It is estimated that the average monthly arrival volume of imported soybeans in my country from August to September will be around 8.5 million tons
According to monitoring, since late June, as the cost of imported soybeans has decreased, my country's purchases of Brazilian soybeans with shipment dates from July to August have increased. In addition, some soybean imports with shipment dates in June have been postponed to August. It is expected that the arrival volume of imported soybeans in my country in August and September will remain huge, with an average monthly arrival volume of about 8.5 million tons. The domestic soybean supply will remain loose in the third quarter.
Mainstream steel mills in Tangshan market lowered coke prices, and the third round of price increases and reductions began
On August 8, mainstream steel mills in the Tangshan market planned to reduce the price of wet quenched coke by 50 yuan/ton and dry quenched coke by 55 yuan/ton, which will be implemented from 0:00 on August 10, 2024. (Mysteel)
Limited arrivals at the terminal, ethylene glycol port storage decreased by 8,000 tons per week
As of August 8, the total MEG port inventory in the main port area of East China was 590,800 tons, a decrease of 8,000 tons from the previous statistical period. This week, the main port shipments were flat, the terminal arrivals were limited, and there was a closure of navigation at the Yangtze River Estuary yesterday, so the port inventory continued to destock. Among them, Zhangjiagang had 269,200 tons, Taicang had 93,000 tons, Ningbo had 51,000 tons, Jiangyin and Changzhou had 104,000 tons, and Shanghai and Changshu had 73,600 tons. In terms of terminal shipments: Zhangjiagang had an average daily shipment of 5,200 tons during the week; Taicang’s two warehouses had an average daily shipment of 4,600 tons; Ningbo’s main port had an average daily shipment of 3,000 tons. (Longzhong Information)
This week, the output of Chinese urea manufacturers was 1.2245 million tons, down 7,400 tons from the previous period.
As of this week, the output of China's urea production enterprises was 1.2245 million tons, down 7,400 tons from the previous period and down 0.60% from the previous month. The current output is at a high level since 2021, up 51.08% from the previous low and down 7.39% from the previous high. Planned maintenance and frequent enterprise failures have caused daily output to fluctuate at a low level in the short term, which has a certain support and buffering effect on the current market. However, the market is still waiting for further increase in demand, so after the domestic urea market has declined again, it has fluctuated around a lower level. Next week, China's weekly urea output is expected to be around 1.19-1.20 million tons, a significant decrease from this period. In the next cycle, it is expected that 2-3 enterprises will be overhauled and 3 parked enterprises will resume production. Taking into account the short-term enterprise failures and the continuation of the changes in the previous cycle, it is expected that the output will continue to decrease in the next cycle. (Longzhong Information)
Gasoline prices are going to drop tonight, filling up a tank will cost you 12 yuan less
According to the National Development and Reform Commission's Price Monitoring Center, international oil prices fell during this round of refined oil price adjustment period (July 25-August 7). The reporter learned from the National Development and Reform Commission today (8th) that from 24:00 on August 8, domestic gasoline and diesel prices were reduced by 305 and 290 yuan per ton, respectively. On average, the prices of No. 92 gasoline, No. 95 gasoline and No. 0 diesel were reduced by 0.24 yuan, 0.25 yuan and 0.25 yuan per liter, respectively. CCTV Finance reporter did the math for you. According to the estimated 50L capacity of a general household car tank, filling up a tank of No. 92 gasoline will cost 12 yuan less. (CCTV Finance)
Profit performance of soda ash industry diverges, and profit of soda ash process declines
As of August 8, the theoretical profit (double ton) of soda ash from China's joint alkali process was 416.6 yuan/ton, down 30 yuan/ton from the previous month. The main cost-side coal price is relatively stable, while the soda ash price is slightly down, resulting in a downward shift in profits. This week, the theoretical profit of soda ash from the ammonia-soda process is 246.43 yuan/ton, up 5.93 yuan/ton from the previous month. The cost-side coke price fell slightly during the week, while the soda ash price did not fluctuate significantly, so the profit improved slightly. (Longzhong Information)
The profitability of float glass enterprises has changed little, but the loss is still more than 200 yuan when using natural gas as fuel.
This week, the spot market of glass was weak and stable, the price of raw material soda ash fell slightly, the price of fuel rose and fell differently, and the profitability of float glass enterprises fluctuated narrowly. From August 2 to August 8, according to the production cost calculation model of Longzhong Information, the average weekly profit of float glass fueled by natural gas was negative 214.69 yuan/ton, which was flat month-on-month; the average weekly profit of float glass fueled by coal gas was 23.46 yuan/ton, which increased by 12.32 yuan/ton month-on-month; the average weekly profit of float glass fueled by petroleum coke was 145.31 yuan/ton, which decreased by 10.00 yuan/ton month-on-month. (Longzhong Information)
Williams: As of the week of August 7, the number of sugar ships waiting to be shipped at Brazilian ports fell to 98
According to foreign media reports, data released by Brazilian shipping agency Williams showed that as of the week of August 7, the number of ships waiting to ship sugar at Brazilian ports was 98, compared with 111 the week before. The amount of sugar waiting to be shipped at the port was 4.5093 million tons, compared with 4.9669 million tons the week before. Of the total amount of sugar waiting to be exported that week, the amount of high-grade raw sugar (VHP) was 4.2911 million tons. According to data released by Williams, the amount of sugar waiting to be exported at the Port of Santos was 3.2969 million tons, and the amount of sugar waiting to be exported at the Port of Paranagua was 919,000 tons.
Demand is on a downward trend, and LPG port inventories have increased significantly
The latest data shows that as of the week of August 8, China's liquefied gas port sample inventory was 2.8256 million tons, an increase of 408,900 tons from the previous month, an increase of 16.92%. The number of ships arriving at the port this week was less than that of last week, but the ships that arrived at the port at the end of last week were unloaded in this period, so the overall unloading volume was higher than last week; in terms of demand, chemical demand showed a downward trend, and combustion demand was also poor. In addition, new sample data was added in this period, so the port inventory in this period showed a significant increase trend. The storage capacity rate of China's liquefied gas sample enterprises was 25.89%, an increase of 0.39 percentage points from the previous month. (Longzhong Information)
Production and sales improved at the beginning of the week, and the inventory of glass sample enterprises fell slightly
At the beginning of the week, the glass market had a strong price-supporting sentiment, which stimulated the middle and lower reaches to replenish inventory appropriately. However, production and sales weakened afterwards. The average daily production and sales rate exceeded 100 in this period, and the industry turned to a destocking state. As of August 8, the total inventory of sample float glass enterprises nationwide was 67.356 million TEUs, a decrease of 1.734 million TEUs or 2.51% from the previous month, and an increase of 61.78% from the same period last year. The inventory days were 28.7 days, a decrease of 0.8 days from the previous period. (Longzhong Information)
Article forwarded from: Jinshi Data