UOB Kay Hian: Malaysia's palm oil production is expected to decrease by 3-7% month-on-month in June 2024

Data from Daiwa Capital Markets' survey on Malaysia's palm oil production in June showed that production in Sabah decreased by 1-5%, Sarawak by 3-7%, Peninsular Malaysia by 4-8% and Malaysia as a whole decreased by 3-7%.

China Cotton Reserves: Pay attention to the high temperature weather in Xinjiang, which has affected the cotton processing enterprises and caused few warehouses to be moved

China Cotton Reserves Corporation said that the average temperature in Xinjiang in July this year is expected to be 0.3-1.5℃ higher than usual. Cotton farmers in Changji, Shihezi and other places said that the temperature has risen significantly since June, and the recent high temperature weather has continued, with the highest temperature reaching 38-39 degrees, and the growth and development of cotton may be affected to a certain extent. According to the survey of cotton supervision warehouses in Urumqi, Aksu and other places, the volume of truck transportation outbound since late June has rebounded slightly compared with the first and middle of June. The shipment is still mainly from cotton trading companies, futures and spot companies, and small and medium-sized textile companies in the mainland, while the number of cotton processing companies in Xinjiang moving warehouses to consumption areas is relatively small.

Coke inventory in the two ports fell by 1.45% week-on-week

According to SMM research, as of July 2, 2024, the coke inventory in the two ports was 1.496 million tons, a weekly decrease of 22,000 tons, a decrease of 1.45%.

China Passenger Car Association: It is estimated that the wholesale sales volume of new energy passenger car manufacturers nationwide in June will reach 970,000 units, a year-on-year increase of 28%.

The China Passenger Car Association said that based on preliminary monthly data, it is estimated that the national wholesale sales of new energy passenger vehicle manufacturers in June was 970,000 units, a year-on-year increase of 28% and a month-on-month increase of 8%.

Iran exports oil to 17 countries, including Europe, at a discount of about $10 per barrel

Iran's Tasnim News Agency: Iran's oil minister said that Iran exports oil to 17 countries, including Europe, at a discount of about $10 per barrel, and the changes in the US government will not affect its oil exports. Our current oil production is 3.57 million barrels per day.

The total amount of ferrosilicon tendered by Hesteel Group in July was 2,629 tons, an increase of 429 tons from June

Hesteel Group launched the July ferrosilicon bidding. The total amount of 75B ferrosilicon bidding this time is 2,629 tons, an increase of 429 tons compared with June. Among them, Handan Iron and Steel Group bid 1,000 tons, Wuyang New Kuanhou bid 600 tons, Tangshan Iron and Steel New District bid 599 tons, Chengde Iron and Steel bid 200 tons, Shijiazhuang Special Steel bid 160 tons, and Zhangxuan High-tech bid 70 tons. The deadline for bidding is 10:00 on July 3, and the delivery date is before July 31. (Mysteel)

COFCO Sugar's first-grade white sugar price is reduced by 30 yuan/ton

On July 2, COFCO Sugar Liaoning Co., Ltd.: The price of first-grade white sugar was 6,700 yuan/ton, down 30 yuan/ton. (Mysteel)

Hesteel Group's silicon manganese production decreased to 14,100 tons in July

Mysteel: Hesteel Group's silicon manganese production in July: 14,100 tons. Silicon manganese production in June: 14,530 tons. (July 2023 production: 20,100 tons).

Yunnan: Sugar sales in June were 261,300 tons, up 105,400 tons year-on-year

1. Yunnan Province's 2023/2024 crushing season production lasted 211 days from October 30, 2023, when Yingmao Mengpeng Sugar Factory took the lead in crushing, to May 27, 2024, when Nanhua Shangjiang Sugar Factory stopped crushing and ended production. There are 52 sugar factories in the province, with a total daily crushing capacity of 194,300 tons. In this crushing season, a total of 15.4494 million tons of sugarcane were crushed in the province (15.1459 million tons of sugarcane were crushed in the previous crushing season), 2.032 million tons of sugar were produced (2.011 million tons of sugar were produced in the previous crushing season), and the sugar yield rate was 13.15% (13.28% in the previous crushing season). 28,000 tons of alcohol were produced (35,400 tons of alcohol were produced in the previous crushing season).

2. As of June 30, Yunnan Province has sold 1.4329 million tons of new sugar (1.4602 million tons in the same period last year), with a sales rate of 70.52% (the production and sales rate in the same period last year was 72.61%). Sales in June alone were 261,300 tons (155,900 tons in the same period last year). Industrial inventory in June was 599,100 tons (550,800 tons in the same period last year) (Mutian Technology)

Hainan: As of the end of June, the sugar production and sales rate was 68.68%, an increase of 20 percentage points year-on-year

Hainan Province’s 2023/24 crushing season will begin on December 21, 2023 and end on March 9, 2024.

1. In this crushing season, there are 5 sugar mills in our province that have put into production, with an actual production capacity of 15,000 tons/day, which is the same as the previous year. According to the report, the amount of sugarcane put into crushing in the province is 609,500 tons, which is 103,800 tons less than the 713,300 tons in the previous crushing season; the sugar production is 74,400 tons, which is 12,100 tons less than the 86,500 tons in the previous crushing season. The mixed sugar production rate is 12.21%, which is 0.08 percentage points higher than the 12.13% in the previous crushing season (the highest is 12.82% at Changjiang Sugar Factory, and the lowest is 11.10% at Longli Sugar Factory). The payment of sugarcane has reached 100%. The field purchase price of raw sugarcane of each sugar mill in this crushing season is 530 yuan/ton, which is 30 yuan/ton higher than the previous crushing season.

2. As of June 30, 2024, the province has sold 51,100 tons of sugar (5,700 tons of which were sold this month), an increase of 9,000 tons from 42,100 tons in the same period of the previous crushing season, and the production and sales rate is 68.68%, 20.01 percentage points higher than 48.67% in the same period of the previous crushing season; the ex-factory price including tax this month is 6,400-6,980 yuan/ton (6,232-7,510 yuan/ton in the same period of the previous crushing season); the inventory of sugar is 23,300 tons, 21,100 tons less than 44,400 tons in the same period of the previous crushing season. (Mutian Technology)

Malaysia's palm oil exports increased by 3.57% from June 1 to 30

According to data released by shipping research agency SGS, Malaysia's palm oil exports are expected to reach 1,202,864 tons from June 1 to 30, an increase of 3.57% from 1,161,370 tons exported in the same period last month.

Rio Tinto in talks with Mongolian copper miners to avert strike

According to foreign media reports, global mining giant Rio Tinto is negotiating with workers at the Oyu Tolgoi copper mine in Mongolia to avoid further industrial action caused by a sharp drop in wages. Previously, a sharp drop in wages in May had already triggered a strike. Rio Tinto Group switched to underground mining at Oyu Tolgoi in March last year, one of the world's largest copper and gold mines, and plans to increase copper production by about 500,000 tons per year from 2028. At current prices, copper production is worth about $5 billion per year, and the current price has fallen from a historical high of nearly $11,000 per ton in May to below $10,000 per ton.

Coal vessel queues at Australia's Newcastle hit 23-month high

According to foreign media, the number of ships waiting in line at Australia's key coal port of Newcastle reached 31 on July 2, a 23-month high, as climate protests and storms disrupted operations. According to data from Port Waratah Coal Services (PWCS), the average ship turnaround time at the two PWCS terminals in Newcastle increased to 7.61 days in June from 5.05 days in May. In June, shipments from PWCS terminals increased to 7.9 million tons from 7.4 million tons in May, but fell from 8.53 million tons in June 2023. The railway was closed for a short maintenance from June 8 to 10, but was also disrupted by climate protests that month. No maintenance is planned for July.

China's polypropylene (PP) production in June was basically stable month-on-month at 2.76 million tons

According to third-party data, China's polypropylene (PP) production in June was basically stable month-on-month, with an output of 2.76 million tons. Year-on-year, domestic PP production in June increased by 9.4% year-on-year.

The article is forwarded from: Jinshi Data