on Monday

Statistics Canada: As of July 31, Canada's canola ending stocks were 3.092 million tons

According to data from Statistics Canada, as of July 31, Canada's wheat production was 32.9462 million tons, compared with 34.8068 million tons in the same period last year, and wheat ending stocks were 4.583 million tons, higher than market expectations of 3.555 million tons and 5.6253 million tons in the same period last year; Canada's canola production was 19.1917 million tons, compared with 18.8498 million tons in the same period last year, and canola ending stocks were 3.092 million tons, higher than market expectations of 2.925 million tons and 1.8526 million tons in the same period last year.

When will the company restore its production capacity in Alxa? Yuanxing Energy responds

An investor asked on the interactive platform that the production cost of the Alxa base is low and it is the main source of the company's profits. When will the head office restore the production capacity of Alxa? Yuanxing Energy responded that some shared equipment in the evaporation link of the third and fourth production lines of the Alxa natural soda project malfunctioned during operation, causing the two production lines to operate at reduced load. Yingen Mining has started emergency repairs and is expected to resume by the end of October 2024.

Analysts expect Brazil's soybean production to increase 14% in 2024/25

According to foreign media reports, a survey of industry analysts showed that as expectations for increased rainfall in the last quarter of this year rise, Brazil's soybean production in 2024/25 may increase by 14% from the previous year to 168 million tons, higher than the 147.4 million tons announced by Brazil's statistics agency Conab in the previous year. The area planted with soybean crops will increase by 1.3% to 46.6 million hectares (115.2 million acres). Although the planting area is expected to hit a record high, it will be the smallest increase in the area of ​​Brazilian soybean crops since 2006/07. Considering that more rainfall is expected when most Brazilian soybean growers start planting from October, Brazilian soybean crops are expected to be abundant.

The Ministry of Commerce spokesperson answered questions from reporters on China's anti-dumping investigation on canola originating from Canada

According to Chinese law and WTO rules, there are two situations in which anti-dumping investigations are initiated. One is to initiate an investigation upon application by the relevant industry; the other is to initiate an investigation by the investigation authority on its own initiative. Due to the low concentration of China's rapeseed industry and the large number of growers involved, it is difficult for the industry to file an application. In this case, the Chinese investigation authority independently initiated an investigation in accordance with the law on the basis of having sufficient evidence required for filing a case. The investigation has just begun and is being carried out in accordance with legal procedures.

Ministry of Commerce: Announcement on the Anti-dumping Investigation on Imported Rapeseed Originating from Canada

As of the date of this announcement, the Ministry of Commerce will initiate an anti-dumping investigation on imported rapeseed originating in Canada. The dumping investigation period determined in this investigation is from January 1, 2023 to December 31, 2023, and the industry damage investigation period is from January 1, 2021 to December 31, 2023.

National Bureau of Statistics: PPI fell 1.8% year-on-year in August

In August 2024, the national ex-factory prices of industrial producers fell by 1.8% year-on-year and 0.7% month-on-month; the purchase prices of industrial producers fell by 0.8% year-on-year and 0.6% month-on-month. On average from January to August, the ex-factory prices of industrial producers fell by 1.9% year-on-year, and the purchase prices of industrial producers fell by 2.1%. Among the ex-factory prices of industrial producers, the prices of means of production fell by 2.0%, affecting the overall level of ex-factory prices of industrial producers by about 1.46 percentage points. Among them, the prices of mining industry rose by 0.9%, the prices of raw materials industry fell by 0.8%, and the prices of processing industry fell by 2.7%. The prices of living materials fell by 1.1%, affecting the overall level of ex-factory prices of industrial producers by about 0.29 percentage points. Among them, the prices of food fell by 1.3%, the prices of clothing fell by 0.4%, the prices of general daily necessities remained unchanged, and the prices of durable consumer goods fell by 1.9%.

National Bureau of Statistics: Consumer prices rose 0.6% year-on-year in August

In August, the national consumer price index rose by 0.6% year-on-year. Among them, the price in cities rose by 0.6% and the price in rural areas rose by 0.8%; the price of food rose by 2.8% and the price of non-food rose by 0.2%; the price of consumer goods rose by 0.7% and the price of services rose by 0.5%. On average from January to August, the national consumer price index rose by 0.2% year-on-year. In August, the national consumer price index rose by 0.4% month-on-month. Among them, the price in cities rose by 0.3% and the price in rural areas rose by 0.4%; the price of food rose by 3.4% and the price of non-food fell by 0.3%; the price of consumer goods rose by 0.7% and the price of services fell by 0.1%.

Tuesday

General Administration of Customs: my country's import and export of goods increased by 6% in the first eight months

According to customs statistics, in the first eight months of 2024, the total value of my country's import and export of goods was 28.58 trillion yuan, a year-on-year increase of 6%. Among them, exports were 16.45 trillion yuan, an increase of 6.9%; imports were 12.13 trillion yuan, an increase of 4.7%; and the trade surplus was 4.32 trillion yuan, an increase of 13.6%. In terms of US dollars, in the first eight months, the total value of my country's imports and exports was 4.02 trillion US dollars, an increase of 3.7%. Among them, exports were 2.31 trillion US dollars, an increase of 4.6%; imports were 1.71 trillion US dollars, an increase of 2.5%; and the trade surplus was 608.49 billion US dollars, an increase of 11.2%.

General Administration of Customs: In the first eight months, my country's imports of iron ore, coal and natural gas increased, while crude oil imports decreased

According to customs statistics, in the first eight months of 2024, my country imported 815 million tons of iron ore, an increase of 5.2%, and the average import price (the same below) was 811.5 yuan per ton, up 3.6%; 367 million tons of crude oil, a decrease of 3.1%, at 4,318 yuan per ton, up 7.3%; 342 million tons of coal, an increase of 11.8%, at 709.6 yuan per ton, down 12.8%; 87.128 million tons of natural gas, an increase of 12.3%, at 3,484.7 yuan per ton, down 7.6%; 70.478 million tons of soybeans, an increase of 2.8%, at 3,630.9 yuan per ton, down 15.1%; 32.506 million tons of refined oil, an increase of 6.2%, at 4,399.6 yuan per ton, up 9.2%. In addition, 19.22 million tons of primary-shaped plastics were imported, up 0.4%, at 10,800 yuan per ton, down 0.5%; 3.615 million tons of unwrought copper and copper products were imported, up 3%, at 67,200 yuan per ton, up 10.2%.

Malaysia's palm oil inventory in August was 1,883,214 tons, up 7.34% from the previous month

Data from the Malaysian Palm Oil Board (MPOB) showed that Malaysia's palm oil inventory in August was 1,883,214 tons, a month-on-month increase of 7.34%; palm oil exports in August were 1,525,115 tons, a month-on-month decrease of 9.74%; palm oil production in August was 1,893,859 tons, a month-on-month increase of 2.87%; palm oil imports in August were 9,970 tons, a month-on-month decrease of 4.90%.

Zhengzhou Commodity Exchange: The transaction fee standard for rapeseed meal futures 2411 and 2501 contracts, and rapeseed oil futures 2411 and 2501 contracts is adjusted to 5 yuan/lot

After research and decision by Zhengzhou Commodity Exchange, starting from the night trading on the evening of September 11, 2024, the transaction fee standard for rapeseed meal futures 2411 and 2501 contracts, and rapeseed oil futures 2411 and 2501 contracts will be adjusted to 5 yuan/lot, and the transaction fee standard for intraday closing of current positions will be adjusted to 5 yuan/lot.

USDA: Brazil's cotton production is expected to reach 16.6 million bales in 2024/25

According to foreign media reports, the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture released a report showing that Brazil's cotton production in 2024/25 is expected to be a record high of 16.6 million bales (1 bale = 480 pounds) or (3.6 million tons), an increase of 11% compared with the country's cotton output in 2023/24. The report said that the driving force behind the expected increase in Brazil's cotton production is mainly the expected increase in planted area (expected to increase to 1.94 million hectares) and the better-than-expected cotton crop yield in major producing states. Although Brazil's domestic cotton consumption remains relatively stable, international market demand should continue to drive Brazil's cotton output. In 2023/24 (August 2023 to July 2024), Brazil surpassed the United States to become the world's largest cotton exporter. Due to increased export demand, Brazil's cotton exports in 2024/25 are expected to be 12 million bales. However, as the total supply of cotton exceeds the total consumption, the year-end inventory is expected to remain at a relatively high level of 4.8 million bales.

Wednesday

Malaysian palm oil stocks may continue to rise in September, agencies maintain price forecasts unchanged

According to foreign media reports, Malaysian palm oil inventories may continue to rise in September as crop production continues to increase seasonally, while exports may be affected by the decline in palm oil price competitiveness. Chye Wen Fei, an analyst at Hong Leong IB, said in a report that the forecast for palm oil prices in 2024 and 2025 remains unchanged at 4,000 ringgit and 3,800 ringgit per ton, respectively. So far this year, the average price of palm oil has been 4,011 ringgit per ton.

ICAC: Global cotton production in 2024/2025 is estimated to be 25.6204 million tons

According to foreign media reports, data released by the International Cotton Advisory Committee (ICAC) showed that the global cotton production in 2024/2025 is estimated to be 25.6204 million tons, an increase of 6.2% year-on-year, and the production in 2023/2024 is estimated to be 24.1230 million tons. The global cotton ending inventory in 2024/2025 is estimated to be 18.3429 million tons, a decrease of 1.2% year-on-year, and the ending inventory in 2023/2024 is estimated to be 18.5627 million tons.

Brazil's sugarcane output to fall to 650.8 million tonnes in 2024/25 as drought continues

According to foreign media reports, industry analysts said in a report that Brazil's sugarcane production in 2024/25 is expected to fall to 650.8 million tons, down 1.4% from the previous estimate, as sugarcane crops continue to face drought problems. Due to long-term drought and fires, sugarcane production in central and southern Brazil fell to 589.4 million tons in 2024/25, and sugar production also fell to 39.8 million tons. Sao Paulo, Minas Gerais, Mato Grosso, Mato Grosso do Sul, Goiás and other states all have obvious drought conditions, which put pressure on local sugarcane crops. Weather forecasts show that in the next 10 days, from Mato Grosso do Sul to Minas Gerais and the south, Sao Paulo will continue to be dry and warm weather, which will further affect sugarcane production. It is expected that in the next few days, some sugarcane growing areas in Brazil will experience humid weather, especially around Paraná State, where local rainfall will occur.

The results of the auction for Albemarle battery-grade lithium carbonate are released

On the afternoon of September 11, the bidding activity of Albemarle Battery-grade lithium carbonate ended. This time, the bidding was for 200 tons of lithium carbonate produced by Jicheng Lithium Industry, and the winning bid price was 75,008 yuan/ton. After the bidding ended, the domestic delivery was carried out. (SMM)

Jiuling Lithium: Mine and concentrator to be overhauled from tomorrow

On September 11, Jiangxi Jiuling Lithium Industry Co., Ltd. issued a "Notice on the Suspension of Production and Maintenance of Chunyou Lithium Industry and Yifeng Jiuyu", stating that according to the company's annual equipment maintenance plan, the holding subsidiary Jiangxi Chunyou Lithium Industry Co., Ltd. (mine) will be shut down for maintenance for 15 days from 00:00 on September 12, 2024 to 24:00 on September 27, 2024; the wholly-owned subsidiary Yifeng Jiuyu Lithium Industry Co., Ltd. (ore dressing plant) will be shut down for maintenance for 10 days from 00:00 on September 12, 2024 to 24:00 on September 22, 2024. (Mysteel)

U.S. core CPI monthly rate in August was higher than expected, and traders cut bets on the Fed's rate cut

The annual rate of the US unadjusted CPI in August was 2.5%, the fifth consecutive month of decline, the lowest level since February 2021, and lower than the market expectation of 2.6%. The monthly rate of the US core CPI after seasonal adjustment in August was 0.3%, higher than the market expectation of 0.2%. After the release of the CPI data, traders cut their bets on the Fed's interest rate cut. Traders expect the Fed to cut interest rates by 25 basis points next week and expect a total of 100 basis points this year. According to institutional analysis, the focus now is on the core monthly rate data, which tends to increase concerns about stubborn inflation. Higher-than-expected US core inflation data will become a problem for the Fed to cut interest rates by 50 basis points next Wednesday.

Thursday

Citi: Lithium prices could rebound 20% to 25% in the next two to three months

According to foreign media reports, Citi analysts said in a research report that lithium prices may rebound by 20% to 25% in the next two to three months due to potential supply reductions. They pointed out that lithium fundamentals have been very weak over the past year and prices have fallen to a level that some producers cannot make a profit. Analysts said that China's lithium market seems to have rebalanced due to recent shutdowns and some replenishment. They said that with the potential CATL to cut production, there may be a small shortage in the market in the coming months. Citi believes that new energy vehicle sales outside of China may remain sluggish in the next six to twelve months, which will continue to be the main drag on lithium consumption, which is essential for manufacturing new energy vehicle batteries.

The agency expects Argentina's soybean production in 2024/25 to be between 52 million and 53 million tons

According to foreign media reports, the Rosario Grain Exchange said that Argentine farmers prefer to plant more soybeans this year because corn planting is affected by drought weather and pest threats. Argentina's soybean planting area is expected to be 17.7 million hectares in 2024/25, an increase of 7.5% over the previous year; soybean production is expected to be 52-53 million tons. However, the exchange said that "the September rains did not come", some farmers are "forcing" planting, and soil moisture conditions in the central planting area are not good. "Therefore, it will be more dependent on rain in the future." Argentina's corn planting area in 2024/25 may be 21% lower than the previous year, at only 8 million hectares, which will bring the harvest to between 51 million and 52 million tons.

Peruvian Deputy Minister of Mines: Peru's copper production may not reach the government's target of 3 million tons this year

Peru's copper production may not reach the government's target of 3 million tonnes this year, a senior mining official said, according to foreign media reports. Peru is the world's third-largest copper producer. Henry Luna, deputy minister of mining, said production this year is expected to reach about 2.8 million tonnes. However, he noted that new government rules allow copper processing plants to increase production capacity by 10%, so some miners may raise their production forecasts. "(Production) will rise) at the end of the year, but Peru's production is expected to be 2.8 million tonnes this year," Luna said at a mining industry conference. According to official data, copper production in the year to July fell 2.3% year-on-year. According to a government report, copper production in the year to July was 1.51 million tonnes, due to a 5.7% drop in Cerro Verde, an 11.3% drop in Las Bambas and a 17.1% drop in Toromocho. Copper production in July was 222,389 tonnes, a year-on-year decrease of 3.2%. During the month, Quellaveco, a subsidiary of Anglo American, fell nearly 25%. Peru, the world's second largest copper producer after Chile for many years, was surpassed by the Democratic Republic of the Congo last year.

India's total vegetable oil imports fell to 1.56 million tons in August

According to foreign media reports, the latest data from the Indian Solvent Extractors Association (SEA) showed that India's total vegetable oil imports fell to 1.56 million tons in August, compared with 1.9 million tons in July. Among them, palm oil imports fell to 797,482 tons, compared with 1.08 million tons in July; soybean oil imports increased to 454,639 tons, compared with 391,791 tons in July; sunflower oil imports fell to 284,108 tons, compared with 366,541 tons in July.

Ministry of Agriculture and Rural Affairs: China's edible vegetable oil output in 2023/24 increased by 230,000 tons from last month

This month, it is estimated that due to the increase in soybean imports and crushing volume, China's edible vegetable oil production in 2023/24 will be adjusted to 30.62 million tons, an increase of 230,000 tons from the estimated value last month. The import volume of edible vegetable oil was reduced to 8.1 million tons, a decrease of 330,000 tons from the estimated value last month, mainly due to the high price of palm oil and the significant reduction in imports. The Mid-Autumn Festival and National Day are approaching, and the demand for edible vegetable oil consumption has increased, which has provided certain support for prices. The overall market is mainly stable. This month's forecast is that China's edible vegetable oil production in 2024/25 will be adjusted to 30.05 million tons, an increase of 20,000 tons from the forecast value last month. Recently, new season peanuts have been listed one after another, and the weather conditions in the main production areas are good, which is conducive to harvesting and drying. There is no adjustment to peanut production this month.

Unica: Sugar production in central and southern Brazil in the second half of August 2024 was 3.258 million tons

According to the Brazilian Sugarcane Industry Association (Unica), in the second half of August, the sugar production in the central and southern regions of Brazil was 3.258 million tons, compared with 3.467 million tons in the same period last year. The sugarcane crushing volume was 45.067 million tons, compared with 46.583 million tons in the same period last year. Ethanol production was 2.452 billion liters, compared with 2.308 billion liters in the same period last year. The sugar content of sugarcane was 155.34 kg/ton, compared with 153.92 kg/ton in the same period last year. 48.85% of the cane juice was used for sugar production, compared with 50.75% in the same period last year. At least 231,830 hectares of sugarcane planting areas in Sao Paulo state were affected by fires at the end of August. 132,040 hectares of sugarcane affected by fires have not yet been harvested. The current situation is expected to bring greater difficulties to sugar production and aggravate the decline in yields.

U.S. jobless claims rise modestly

The number of Americans filing for unemployment benefits rose slightly last week, suggesting layoffs remain low even as the labor market slows. The Labor Department said on Thursday that initial claims for unemployment benefits in the U.S. rose slightly by 2,000 to 230,000 in the week ended September 7. However, the survey period for last week's data included the Labor Day holiday in the United States. Initial claims for unemployment benefits tend to fluctuate around public holidays. In addition, the number of Americans continuing to claim unemployment benefits in the week ended August 31 was 1.85 million, a slight increase of 5,000. After surging in July to levels not seen since the end of 2021, continuing claims have mostly trended downward in August. The decline is consistent with the decline in the unemployment rate last month.

Friday

Soil moisture in Brazil's two main soybean producing states hits worst in 30 years

According to foreign media reports, EarthDaily Agro said that in Mato Grosso and Parana states in Brazil, soil moisture is at its worst level in 30 years, posing challenges to planting in the region. Brazil is the world's largest soybean producer and exporter. Mato Grosso and Parana are among the top three soybean producing states in Brazil, and their total output accounts for about 40% of Brazil's soybean production. Felippe Reis, a crop analyst at EarthDaily Agro, said that in Mato Grosso, the situation will continue in the next ten days, making the state's soybean planting work face unfavorable conditions at the start. In addition, the average temperature in Mato Grosso is as much as 7 degrees Celsius higher than normal. Forecasts show that weather conditions in the state are not expected to improve until the end of the month with the arrival of rain. Reis did not comment on whether the drought will cause farmers to postpone planting soybeans. The long delay may have an impact on the yield of corn and second-season cotton. Some meteorologists, including Marco Antonio dos Santos of consultancy Rural Clima, said long-term models showed rainfall in key parts of Brazil would become more regular after mid-October. Farmers group Aprosoja Brasil said earlier this week that wildfires were burning rice straw that farmers use to protect their fields, marking a further "setback" for the current crop season.

USDA September Supply and Demand Report: U.S. Soybeans

① In September, the U.S. soybean planting area for 2024/2025 is expected to be 87.1 million acres, which is the same as the forecast in August;

② In September, the U.S. soybean harvest area for 2024/2025 is expected to be 86.3 million acres, which is the same as the forecast in August;

③The U.S. soybean yield for 2024/2025 is expected to be 53.2 bushels per acre in September, which is the same as the forecast in August;

④ In September, the U.S. soybean production for 2024/2025 was expected to be 4.586 billion bushels, compared with 4.589 billion bushels in August, a decrease of 3 million bushels from the previous month;

⑤ In September, the total supply of soybeans in the United States for 2024/2025 is expected to be 4.941 billion bushels, and the forecast in August was 4.949 billion bushels, a decrease of 80 million bushels from the previous month;

⑥ The U.S. soybean crushing volume for 2024/2025 is expected to be 2.425 billion bushels in September, and the forecast for August is 2.425 billion bushels, which is the same as the previous month;

⑦ In September, the U.S. soybean export volume for 2024/2025 is expected to be 1.85 billion bushels, which is the same as the forecast in August;

⑧In September, the total soybean consumption in the United States for 2024/2025 is expected to be 4.391 billion bushels, and the forecast in August was 4.389 billion bushels, an increase of 20 million bushels from the previous month;

⑨In September, the U.S. soybean ending stocks for the 2024/2025 fiscal year are expected to be 550 million bushels, compared with 560 million bushels in August, a decrease of 10 million bushels from the previous month.

USDA September Supply and Demand Report: U.S. Corn

① In September, the U.S. corn planting area for 2024/2025 was expected to be 90.7 million acres, which was the same as the forecast in August;

② The U.S. corn harvest area for 2024/2025 is expected to be 82.7 million acres in September, which is the same as the forecast in August;

③ The U.S. corn yield for 2024/2025 is expected to be 183.6 bushels per acre in September, compared with 183.1 bushels per acre in August, an increase of 0.5 bushels per acre from the previous month;

④ In September, the U.S. corn production for 2024/2025 is expected to be 15.186 billion bushels, compared with 15.147 billion bushels in August, an increase of 39 million bushels from the previous month;

⑤ In September, the total supply of corn in the United States for 2024/2025 is expected to be 17.022 billion bushels, and the forecast in August was 17.038 billion bushels, a decrease of 16 million bushels from the previous month;

⑥ In September, the total corn consumption in the United States for 2024/2025 is expected to be 14.965 billion bushels, which is the same as the forecast in August;

⑦ In September, the U.S. corn ending stocks for the 2024/2025 fiscal year are expected to be 2.057 billion bushels, compared with 2.073 billion bushels in August, a decrease of 16 million bushels from the previous month.

Port Hedland exported 40.7346 million tons of iron ore to China in August

According to data from the Pilbara Ports Authority (PPA) of Australia,

1. The iron ore exports from Port Hedland in August were 47.8522 million tons, compared with 43.1574 million tons in July. Among them, 40.7346 million tons were exported to China, compared with 34.1013 million tons in July.

2. Port Hedland exported 132,396 tons of spodumene concentrate in August, compared with 92,533 tons in July; of which 101,116 tons were exported to China, compared with 92,533 tons in July.

3. Port Hedland exported 146,000 tons of manganese ore in August, compared with 154,100 tons in July; of which 146,000 tons were exported to China, compared with 61,200 tons in July.

September 13 Albemarle Spodumene Tender Results

Albemarle held a bidding activity for chemical grade spodumene concentrate on the Metalshub platform on September 13, 2024. The bidding included 16,200 metric tons of chemical grade spodumene, with a grade of 5%-6% and a particle size of 0-0.125mm, produced in Wodgina, Australia. The bidding price was US$808/ton (60% off) CIF China price, equivalent to 77,000/ton of lithium carbonate (tax included). (Mysteel)

Another overseas iron ore production increase! India's NMDC raises iron ore production target for fiscal year 2025

Recently, NMDC (National Mineral Development Corporation Limited), India's largest state-owned iron ore producer, plans to increase its annual iron ore production from 45 million tons in fiscal year 2024 to 67 million tons in fiscal year 2025, and eventually achieve its production target of 100 million tons in 2030. This increase in production is expected to increase its share of the Indian iron ore market from 20% to 25%, and will provide strong support for the Indian government's goal of achieving self-reliance and reducing import dependence in the mining and metallurgical sectors. Previously, India issued relevant steel policy instructions: it plans to increase the country's steel production capacity from the current approximately 155 million tons to 300 million tons by 2030. In the future, NMDC also plans to start a coking coal mine with an annual production capacity of 8 million tons in fiscal year 2026 to reduce India's dependence on imported coking coal. In addition, NMDC is also seeking overseas mining opportunities for key minerals such as lithium, cobalt and nickel in Australia through its subsidiary Legacy India Iron Ore Limited. (Mysteel)

Central Bank: According to preliminary statistics, the stock of social financing scale will be 398.56 trillion yuan at the end of August 2024, an increase of 8.1% year-on-year

According to preliminary statistics, the stock of social financing scale was 398.56 trillion yuan at the end of August 2024, an increase of 8.1% year-on-year. Among them, the balance of RMB loans issued to the real economy was 248.89 trillion yuan, an increase of 8.1% year-on-year; the balance of foreign currency loans issued to the real economy in RMB was 1.5 trillion yuan, a year-on-year decrease of 17.4%; the balance of entrusted loans was 11.21 trillion yuan, a year-on-year decrease of 1.1%.

Central Bank: According to preliminary statistics, the cumulative increase in social financing scale in the first eight months of 2024 was 21.9 trillion yuan, 3.32 trillion yuan less than the same period last year

The central bank released a statistical report on the increase in social financing scale in August 2024. According to preliminary statistics, the cumulative increase in social financing scale in the first eight months of 2024 was 21.9 trillion yuan, 3.32 trillion yuan less than the same period last year. Among them, RMB loans issued to the real economy increased by 13.42 trillion yuan, 3.57 trillion yuan less than the same period last year; foreign currency loans issued to the real economy in RMB terms decreased by 158.3 billion yuan, 80 billion yuan less than the same period last year; entrusted loans decreased by 54.8 billion yuan, 139.7 billion yuan less than the same period last year; trust loans increased by 355.6 billion yuan, 331.9 billion yuan more than the same period last year; undiscounted bank acceptance bills decreased by 278.8 billion yuan, 280.8 billion yuan less than the same period last year; corporate bond net financing was 1.78 trillion yuan, 203.1 billion yuan more than the same period last year; government bond net financing was 5.64 trillion yuan, 679.8 billion yuan more than the same period last year; non-financial enterprises' domestic stock financing was 157.6 billion yuan, 484.2 billion yuan less than the same period last year.

Saturday

National Bureau of Statistics: The current real estate market continues to be in adjustment

Liu Aihua, spokesperson for the National Bureau of Statistics, said that judging from the main indicators of the real estate market released, some indicators have shown a marginal narrowing under the influence of a series of policy measures. From January to August, real estate development investment fell by 10.2%, the same decline as from January to July; commercial housing sales area fell by 18%, a decline narrowed by 0.6 percentage points; commercial housing sales fell by 23.6%, a decline narrowed by 0.7 percentage points; new housing construction area fell by 22.5%, a decline narrowed by 0.7 percentage points. Judging from these changes, the current real estate market continues to be adjusted. From the perspective of future development, China's urbanization process is continuing to advance, and the new model of real estate development is accelerating. The real estate market still has great potential and space. We must continue to adhere to the city-specific policy, accelerate the implementation of various policies, and promote the gradual realization of stable and healthy development of the real estate market, so as to play a better role in better meeting the housing needs of the people. (China Net)

China Coal Transportation and Distribution Association holds a seminar on the construction of a unified national coal market

On September 12, the "National Unified Coal Market Construction Seminar" co-organized by the China Coal Transportation and Distribution Association and the Hami Municipal Government was held in Urumqi, Xinjiang. The meeting pointed out that the Coal Trading Market Committee of the Transportation and Distribution Association will continue to guide and standardize the construction of the coal trading market system, create a new digital supply chain service platform for the coal industry that integrates transactions, data, information, and finance, and actively promote the formation of a unified, open, competitive, orderly, efficient and standardized coal market trading system. The meeting emphasized that to build a unified national coal market, it is necessary to handle the five relationships between government and market, long-term contracts and spot goods, domestic and foreign, Xinjiang and the mainland, and new energy and coal coupling development. Focus on the six aspects of building mechanisms, setting rules, promoting coordination, promoting innovation, ensuring supply, and high standards, and use modern intelligent, data-based, information-based, and platform-based technologies to promote the smooth flow of coal resources in a larger range and contribute coal power to the construction of a unified national market. (China Coal Transportation and Distribution Association)

National Bureau of Statistics: National CPI rose 0.6% year-on-year in August

In August, the national consumer price index (CPI) rose by 0.6% year-on-year, an increase of 0.1 percentage point from the previous month; it rose by 0.4% month-on-month. By category, the prices of food, tobacco and alcohol rose by 2.1% year-on-year, the prices of clothing rose by 1.4%, the prices of housing remained the same year-on-year, the prices of daily necessities and services rose by 0.2%, the prices of transportation and communications fell by 2.7%, the prices of education, culture and entertainment rose by 1.3%, the prices of medical care rose by 1.3%, and the prices of other goods and services rose by 3.4%. Among the prices of food, tobacco and alcohol, the price of grain fell by 0.1%, the price of fresh fruit rose by 4.1%, the price of pork rose by 16.1%, and the price of fresh vegetables rose by 21.8%. The core CPI, excluding the prices of food and energy, rose by 0.3% year-on-year. From January to August, the national consumer price index rose by 0.2% year-on-year. (National Bureau of Statistics)

National Bureau of Statistics: Total retail sales of consumer goods in August increased by 2.1% year-on-year

In August, the total retail sales of consumer goods was 3872.6 billion yuan, a year-on-year increase of 2.1%. Among them, the retail sales of consumer goods other than automobiles was 3478.3 billion yuan, an increase of 3.3%. From January to August, the total retail sales of consumer goods was 31245.2 billion yuan, a year-on-year increase of 3.4%. Among them, the retail sales of consumer goods other than automobiles was 28177.2 billion yuan, an increase of 3.9%. By consumption type, in August, the retail sales of goods was 3437.5 billion yuan, a year-on-year increase of 1.9%; catering revenue was 435.1 billion yuan, an increase of 3.3%. From January to August, the retail sales of goods was 27745.4 billion yuan, an increase of 3.0%; catering revenue was 3499.8 billion yuan, an increase of 6.6%. (National Bureau of Statistics)

National Bureau of Statistics: From January to August, the housing construction area of ​​real estate developers decreased by 12.0% year-on-year

From January to August, the housing construction area of ​​real estate development enterprises was 7094.20 million square meters, a year-on-year decrease of 12.0%. Among them, the residential construction area was 4960.52 million square meters, a decrease of 12.6%. The newly started housing area was 494.65 million square meters, a decrease of 22.5%. Among them, the newly started residential area was 359.09 million square meters, a decrease of 23.0%. The completed housing area was 333.94 million square meters, a decrease of 23.6%. Among them, the completed residential area was 243.93 million square meters, a decrease of 23.2%. From January to August, the sales area of ​​newly built commercial housing was 606.02 million square meters, a year-on-year decrease of 18.0%, of which the residential sales area decreased by 20.4%. The sales of newly built commercial housing was 597.23 billion yuan, a decrease of 23.6%, of which the residential sales decreased by 25.0%. (National Bureau of Statistics)

National Bureau of Statistics: In August, the sales price of newly built commercial housing in first-tier cities fell by 0.3% month-on-month

In August, the sales price of newly built commercial housing in first-tier cities fell by 0.3% month-on-month, a decrease of 0.2 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 0.5%, 0.5% and 0.8% respectively, and Shanghai rose by 0.6%. The sales prices of newly built commercial housing in second- and third-tier cities fell by 0.7% and 0.8% month-on-month, respectively, and the decline expanded by 0.1 percentage point from the previous month. In August, the sales prices of second-hand housing in first-tier cities fell by 0.9% month-on-month, a decrease of 0.4 percentage points from the previous month, among which Beijing, Shanghai, Guangzhou and Shenzhen fell by 1.0%, 0.6%, 0.7% and 1.3% respectively. The sales prices of second-hand housing in second- and third-tier cities fell by 1.0% and 0.9% month-on-month, respectively, a decrease of 0.2 and 0.1 percentage points from the previous month.

CFTC releases speculators' net positions in corn, wheat, soybeans

According to data from the U.S. Commodity Futures Trading Commission (CFTC) supplemental report, speculators made the following adjustments to CBOT wheat, corn and soybean futures and options positions in the week ending September 10:

1. Wheat: Speculators reduced their net short positions in wheat by 11,363 lots to 69,424 lots.

2. Corn: Speculators reduced their net short positions in corn by 44,703 lots to 112,261 lots.

3. Soybeans: Speculators reduced their net short positions in soybeans by 12,981 lots to 135,284 lots.

In early September, the daily crude steel output of key steel enterprises increased by 2.7% month-on-month.

In early September 2024, key steel enterprises produced a total of 19.36 million tons of crude steel, with an average daily output of 1.936 million tons, a month-on-month increase of 2.7%; 17.83 million tons of pig iron, with an average daily output of 1.783 million tons, a month-on-month increase of 1.6%; 18.65 million tons of steel, with an average daily output of 1.865 million tons, a month-on-month decrease of 4.6%. Based on this estimate, the country's daily output of crude steel this week is 2.63 million tons, a month-on-month increase of 2.0%, daily output of pig iron is 2.24 million tons, a month-on-month increase of 1.2%, and daily output of steel is 3.78 million tons, a month-on-month decrease of 1.4%. (China Iron and Steel Association)

Ministry of Ecology and Environment: Promote green and low-carbon transformation and accelerate the formulation and revision of pollutant emission standards

The Ministry of Ecology and Environment issued a notice on "Several Measures of Ecological and Environmental Departments to Further Promote the Development of Private Economy". The notice proposes to promote green and low-carbon transformation. Accelerate the formulation and revision of pollutant emission standards, improve the carbon emission accounting of key industry enterprises, and the carbon emission reduction accounting standards and technical specifications of projects, establish a product carbon footprint management system, and guide enterprises to develop green and low-carbon. Support enterprises to develop green and low-carbon industries and green supply chains, and carry out collaborative innovation in pollution reduction and carbon reduction.

Ministry of Commerce Spokesperson's Remarks on the US's Final Measures to Increase Some Section 301 Tariffs on China

On September 13, US time, the Office of the United States Trade Representative issued a notice on the final measures of the 301 tariffs on China, announcing that the 301 tariffs on some Chinese goods will be increased. China is strongly dissatisfied with this and firmly opposes it. Previously, the Office of the United States Trade Representative solicited public comments on the results of the tariff review. The majority of opinions opposed the imposition of tariffs or requested the expansion of the scope of tariff exemptions, which shows that the 301 tariffs on China are unpopular. The United States should immediately correct its wrong practices and cancel all tariffs on China. China will take necessary measures to firmly defend the interests of Chinese companies.

Sunday

IDF says Yemen fired missiles at Israel

The Israeli military said on Sunday that a surface-to-surface missile fired from Yemen at central Israel hit an uninhabited area, causing no casualties. Just minutes before the incident, air raid sirens sounded in Tel Aviv and central Israel, and residents ran to shelters. A loud explosion was also heard in the area, which the Israeli army said was caused by a missile interceptor launched, and its protection policy for Israeli residents has not changed. In July this year, a long-range drone was launched at Tel Aviv with Yemen's Houthi rebels, killing one person and injuring four people. The attack prompted Israel to launch a large-scale airstrike on Houthi military targets near the Yemeni port of Hodeidah, killing at least three people and injuring 87 people.

ITS: Malaysian palm oil exports from September 1 to 15 increased by 9% month-on-month

Data from shipping research agency ITS showed that Malaysia's palm oil exports from September 1 to 15 were 695,136 tons, up 9% from 637,466 tons exported in the same period last month.

Federal judge temporarily blocks Biden administration rule limiting flaring at oil wells

A federal judge in North Dakota has temporarily blocked a new rule by the Biden administration aimed at reducing gas venting and flaring at oil wells. Earlier this year, North Dakota, Montana, Texas, Wyoming and Utah challenged the rule in federal court, arguing that it would hamper oil and gas production and that the Interior Department's Bureau of Land Management was overstepping its authority with respect to non-federal minerals and air pollution. (AP)

China Iron and Steel Association: China produced 77.92 million tons of crude steel in August, down 10.4% year-on-year

On September 15, data from the China Iron and Steel Association showed that in August 2024, the country produced 77.92 million tons of crude steel, a year-on-year decrease of 10.4%, and a daily output of 2.5135 million tons/day, a month-on-month decrease of 6.1%; produced 68.14 million tons of pig iron, a year-on-year decrease of 8.8%, and a daily output of 2.1981 million tons/day, a month-on-month decrease of 4.6%; produced 110.90 million tons of steel, a year-on-year decrease of 6.50%, and a daily output of 3.5774 million tons/day, a month-on-month decrease of 3.0%; from January to August, the country produced a total of 691 million tons of crude steel, a year-on-year decrease of 3.3%, and a total daily output of 2.8336 million tons; produced 578 million tons of pig iron, a year-on-year decrease of 4.3%, and a total daily output of 2.3676 million tons; produced 926 million tons of steel, a year-on-year decrease of 0.4%, and a total daily output of 3.7940 million tons.

Typhoon "Bebejia" may hit Shanghai at peak intensity

"Bebejia" has reached typhoon level, and the convection in the core area of ​​the typhoon is developing vigorously. Coupled with the high sea temperature environment, the intensity will continue to increase and may reach its peak before landing. According to the latest path forecast, the probability of landing in Shanghai is increasing. The strongest typhoon to land in Shanghai since 1949 was Typhoon No. 6 Gloria in 1949, with a wind speed of 40 meters per second and 968 hPa. This time, "Bebejia" may be close to Gloria in intensity. (China Weather Network)

The article is forwarded from: Jinshi Data