World Steel Association: China's crude steel output in May was 92.9 million tons, an increase of 2.7% year-on-year
According to the World Steel Association, global crude steel production in May 2024 was 165.1 million tons, up 1.5% year-on-year. China's crude steel production in May was 92.9 million tons, up 2.7% year-on-year; India's crude steel production in May was 12.2 million tons, up 3.5% year-on-year; Japan's crude steel production in May was 7.2 million tons, down 6.3% year-on-year; the United States' crude steel production in May was 6.9 million tons, down 1.5% year-on-year; Russia's crude steel production in May is expected to be 6.3 million tons, down 0.9% year-on-year; South Korea's crude steel production in May was 5.2 million tons, down 10.9% year-on-year; Turkey's crude steel production in May was 3.2 million tons, up 11.6% year-on-year. Germany's crude steel production in May is expected to be 3.2 million tons, down 1.9% year-on-year.
Fu Xiaochu, Director of the Guangzhou Local Financial Management Bureau: Support Guangzhou Futures Exchange to continuously enrich and improve its product system and accelerate the listing of more green products
On June 21, the "2024 Futures to Promote Green Finance Development Conference" was held in Guangzhou. Fu Xiaochu, director of the Guangzhou Local Financial Management Bureau, said at the meeting that Guangzhou will increase its efforts in green financial reform and innovation, support the Guangzhou Futures Exchange (GFE) to continuously enrich and improve its product system, and accelerate the listing of more green products. In recent years, Guangzhou's financial industry has achieved remarkable results. In 2023, the added value of the financial industry reached 273.674 billion yuan, and the balance of green loans reached 1.19 trillion yuan, a year-on-year increase of 33.2%. GFE has successfully listed lithium carbonate futures, options and other products, and will continue to promote the development of green and low-carbon industries in the future.
First LNG carrier to pass through Red Sea since January
Shipping data showed that a liquefied natural gas carrier entered the Red Sea this week after passing through the Bab el-Mandeb Strait, marking the first time a liquefied natural gas carrier has passed through the Red Sea since January, when liquefied natural gas shipments in the region were suspended amid growing tensions.
Malaysia's palm oil production fell 6.79% from June 1 to 20
Data from the Southern Peninsula Palm Oil Pressers Association (SPPOMA) showed that from June 1 to 20, 2024, Malaysia's palm oil yield decreased by 6.79%, the oil extraction rate remained stable, and the output decreased by 6.79%.
Dalian Commodity Exchange issued an announcement on the modification of the exercise price and other terms of option contracts
Dalian Commodity Exchange issued an announcement on the modification of the terms of the exercise price of option contracts. The modification of the terms of the exercise price of option contracts has been reviewed and approved by the 41st meeting of the 4th Council of Dalian Commodity Exchange and is now announced and will be implemented from the settlement on August 2, 2024. Option contracts that have been listed before August 2, 2024 will continue to be traded.
The State Council Tariff Commission: Anti-dumping duties will continue to be imposed on imported styrene originating from South Korea, Taiwan and the United States for a period of 5 years
Based on the investigation results, the Ministry of Commerce proposed to the State Council Tariff Commission to continue to implement anti-dumping measures. Based on the proposal of the Ministry of Commerce, the State Council Tariff Commission decided to continue to impose anti-dumping duties on imports of styrene originating from South Korea, Taiwan and the United States from June 23, 2024 for a period of 5 years.
Yuanxing Energy: The second phase of the Alxa Natural Soda Project is scheduled to be completed in December 2025
An investor asked on the interactive platform whether the company's Phase 2 will be put into production in 2030? Yuanxing Energy responded that the second phase of the Alxa Natural Soda Project is scheduled to be completed in December 2025. It also stated that the fourth production line of the first phase of the Alxa Natural Soda Project is still under trial operation, and the time to reach full production is still uncertain. The company does not deliberately use the time of information disclosure to cooperate with capital in financial market operations.
Rumor has it that Yuanxing Alashan will be undergoing maintenance for a week? Will the official start of production of Line 4 be postponed to 2025? Yuanxing Energy's response
An investor asked a question on the interactive platform.
① Is it true that Yuanxing Alashan Pure was under maintenance for a week? Yuanxing Energy responded that the situation you described does not exist in the company's Alashan natural soda project at present.
② It is rumored that the company postponed the official start-up time of Line 4 to 2025. Why did the company make this change in plan? Yuanxing Energy responded that the fourth production line of the first phase of the Alxa Natural Soda Project is still under trial operation, and the time to reach full production is still uncertain. There is no change in the plan as you mentioned.
③ Is it possible for the market to ignore your company's various short essays about production restrictions due to various reasons (including but not limited to boiler damage, alien invasion, etc.), and your company's only statement is limited to the interactive platform? What percentage of the first phase of the 4 lines have basically reached the production state? Which product is mainly produced by the 4 lines, light or heavy alkali? Can the soda ash produced by the natural alkali method completely replace the other two methods in terms of quality? Yuanxing Energy replied that the relevant information is subject to the announcement issued by the company and the information released on the interactive platform; the fourth production line of the first phase of the Alashan natural alkali project is still in trial operation, and the current load is not stable, and the products are mainly heavy soda ash; the terminal products of the three production methods are all heavy or light soda ash.
Li Qiang will attend the 15th Summer Davos Forum
Foreign Ministry Spokesperson Lin Jian announced that Premier Li Qiang will attend the 15th Summer Davos Forum in Dalian on June 25. Premier Li Qiang will deliver a special speech at the forum, meet with Klaus Schwab, Chairman of the World Economic Forum, and foreign guests, and hold discussions with representatives of foreign business circles. Polish President Andrzej Duda and Vietnamese Prime Minister Pham Minh Chinh will attend the forum. More than 1,600 representatives from the political, business, academic and media circles from nearly 80 countries and regions will attend the forum.
The draft Financial Stability Law is scheduled for second reading, clarifying the responsibilities of the central financial work leading body
In December 2022, the 38th meeting of the Standing Committee of the 13th National People's Congress held its first review of the draft Financial Stability Law proposed by the State Council. On the morning of June 21, 2024, the Legislative Affairs Commission of the Standing Committee of the National People's Congress held a press conference. Spokesperson Huang Haihua introduced that the second review draft of the draft is to be submitted to the 10th meeting of the Standing Committee of the 14th National People's Congress for review. In order to implement the spirit of the Second Plenary Session of the 20th CPC Central Committee and the Central Financial Work Conference, the second review draft of the draft to be submitted to this Standing Committee meeting for review is proposed to make the following major revisions: First, improve the management system and clarify the responsibilities of the central financial work leading body. Second, improve the draft's relevant provisions on financial supervision and financial risk prevention and disposal. Third, do a good job in connecting with other financial laws.
MinRes to terminate Yilgarn iron ore operations in Western Australia
According to foreign media reports, Mineral Resources of Western Australia will terminate its iron ore production in the Yilgarn mine in Western Australia by December 31, 2024. The company said that it was mainly affected by financial factors and the limited life of mines in the region, in addition to the subsequent costs of developing new iron ore. It is expected that in the next six months, the Yilgarn mine will reduce production in stages, and it is expected to produce 4 million tons of iron ore by the end of this year, and enter the maintenance phase in early 2025. MinRes has five independent mines in the Yilgarn area of Western Australia, including Koolyanobbing, Mt Jackson, Windarling, Deception and Parker Range, which produced a total of 8.006 million tons of iron ore in 2023. After the Yilgarn mine is shut down, MinRes will turn its focus to the development of its other iron ore project, Onslow Iron, in Western Australia. The project is expected to have an annual production capacity of 35 million tons, which greatly guarantees the iron ore production of MinRes.
The Ministry of Commerce spokesperson answered questions about recent media reports that the EU is worried that the escalation of China-EU trade frictions may trigger a "trade war"
China has noted the relevant reports. The EU has been escalating trade frictions and may trigger a "trade war". The responsibility lies entirely with the EU. At least the EU has "failed three things". I would like to emphasize that China does not want to see the current trade frictions between China and the EU. The EU's approach is typical protectionism. China is determined to safeguard its legitimate interests. China hopes that the EU can be consistent in words and deeds, meet each other halfway, implement the consensus reached by the leaders of the two sides, take care of the reasonable concerns of both sides, follow the rules of the WTO, properly handle differences through dialogue and consultation, return to the correct way of getting along between China and the EU, avoid the escalation of trade frictions out of control, and jointly promote the steady and long-term development of China-EU economic and trade cooperation.
Glass production next week may be lower than this week, and is expected to be around 1.1833 million tons.
According to Longzhong Information, as of June 20, 2024, the daily output of float glass in China was 168,800 tons, down 1.07% from the 13th; the operating rate of the float glass industry was 82.72%, down 0.39% from the 13th; the capacity utilization rate of the float glass industry was 83.43%, down 0.65% from the 13th. This week (20240614-0620), the national float glass output was 1.187 million tons, down 0.68% from the previous month and +3.61% from the same period last year; the average operating rate of the float glass industry was 82.92%, down 0.62% from the previous month; the average capacity utilization rate of the float glass industry was 83.78%, down 0.36% from the previous month. This week, two production lines were released, and the overall supply volume declined. There is no clear ignition or cold repair plan for the production line next week. One production line that was ignited in the early stage may produce glass, but overall the weekly output may be lower than this week, and it is expected to be around 1.1833 million tons.
Profits from self-breeding and self-raising pigs vs. profits from purchasing piglets
According to Wind data, as of the week of June 21, the profit of self-breeding and self-raising pig farming was 382.68 yuan/head, and the profit on June 14 was 413.26 yuan/head; the profit of purchasing piglets for farming was 366.56 yuan/head, and the profit on June 14 was 396.11 yuan/head.
Pilbara Minerals to double annual lithium production at Pilgangoora
Pilbara Minerals, Australia's largest independent lithium producer, said on Friday that it will double the production capacity of lithium ingots at its Pilgangoora mine in Western Australia. A pre-feasibility study conducted by the company determined that annual production at Pilgangoora could be increased to more than 2 million tons, with average annual production expected to be about 1.9 million tons in the first 10 years after the expansion. Pilbara may make a potential investment decision on the expansion based on the results of the feasibility study, which is expected to be conducted in the December 2025 quarter. The company expects to increase capital expenditure by A$1.2 billion (US$799.2 million) to build a new flotation plant to increase capacity. The new plant will be adjacent to the existing Pilgan plant to take advantage of existing key synergies.
Supply and demand of ferrosilicon and silicomanganese, weekly operating rate, and daily production statistics
1. In terms of silicomanganese: the output of silicomanganese for the five major steel grades (70% of weekly demand) was 128,384 tons, down 0.74% from the previous week; the national silicomanganese output (99% of weekly supply) was 221,305 tons, up 2.53% from the previous week; the sample operating rate (capacity utilization rate) of 187 independent silicomanganese enterprises nationwide was 58.47%, up 1.61% from the previous week; the average daily output was 31,615 tons, up 780 tons.
2. Ferrosilicon: The operating rate (capacity utilization rate) of the samples of 136 independent ferrosilicon enterprises nationwide was 38.59%, down 0.18% from the previous period; the average daily output was 16,345 tons, up 240 tons from the previous period. The weekly demand for ferrosilicon of the five major steel grades (the samples accounted for about 70% of the total demand for ferrosilicon of the five major steel grades) was 21,061.8, down 0.13% from last week, and the national ferrosilicon output (weekly supply) was 114,400 tons. (Mysteel)
The inventory of imported iron ore in 45 ports was 148.8327 million tons, down 93,500 tons from the previous month.
The inventory of imported iron ore in 45 ports was 14883.27, down 9.35 from the previous month; the average daily port clearance volume was 311.52, up 2.14. In terms of quantity, Australian ore was 6728.19, down 74.22, Brazilian ore was 4951.95, up 120.9; trade ore was 9651.27, up 188.68, pellets were 655.64, up 13.26, fine powder was 1501.29, down 42.26, lump ore was 1577.21, down 82.61, and coarse powder was 11149.13, up 102.26; the number of ships in the port was 85, flat from the previous month. (Unit: 10,000 tons) (Mysteel)
The average daily molten iron output of 247 steel mills was 2.3994 million tons, an increase of 6,300 tons from the previous month.
The blast furnace operating rate of 247 steel mills was 82.81%, an increase of 0.76 percentage points from last week and a decrease of 1.28 percentage points from last year; the blast furnace ironmaking capacity utilization rate was 89.76%, an increase of 0.23 percentage points from last week and a decrease of 1.84 percentage points from last year; the steel mill profit rate was 51.95%, an increase of 2.17 percentage points from last week and a decrease of 8.22 percentage points from last year; the average daily molten iron output was 2.3994 million tons, an increase of 6,300 tons from last week and a decrease of 59,100 tons from last year. (Mysteel)
Canada's canola exports fell 13.3% in the week ending June 16 from the previous week.
Data released by the Canadian Grain Commission showed that Canada's canola exports fell 13.3% to 131,900 tons in the week ending June 16, compared with 152,100 tons in the previous week. From August 1, 2023 to June 16, 2024, Canada's canola exports were 5.848 million tons, down 21.2% from 7.4225 million tons in the same period last year. As of June 16, Canada's commercial canola stocks were 1.3117 million tons.
The article is forwarded from: Jinshi Data
