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The latest information on bulk raw materials
macro
1. [PMI] National Bureau of Statistics: In July, the manufacturing purchasing managers' index was 49.4%, a slight decrease of 0.1 percentage points from the previous month, and the prosperity of the manufacturing industry was basically stable; the non-manufacturing business activity index and the composite PMI output index were both 50.2%, down 0.3 percentage points from the previous month, and were still in the expansion range, indicating that the production and operation activities of mainland enterprises continued to expand.
2. [BCI] In July 2024, the commodity supply and demand index (BCI) of the business community is -0.49, with an average increase of -2.47%.
3. [Tariffs] It is reported that the mainland has taken the initiative to reduce tariffs, and the overall tariff level has now dropped to 7.3%, close to the average level of developed countries.
4. [Foreign Trade] General Administration of Customs: Since the 18th National Congress of the Communist Party of China, the mainland's foreign trade has grown at an average annual rate of nearly 1.6 trillion yuan, which is equivalent to the total annual import and export volume of a medium-sized country. The mainland's total trade in goods has ranked first in the world for seven consecutive years, and has become a major trading partner of more than 150 countries and regions, and the number of foreign trade enterprises has nearly doubled compared with 2012.
5. [Eurozone GDP] Eurozone's seasonally adjusted GDP in the second quarter increased by 0.6% year-on-year and 0.3% quarter-on-quarter, both higher than market expectations. The pace of economic growth in the eurozone countries was uneven, with Germany's GDP contracting slightly by 0.1%, France and Spain growing steadily, and Italy's economy slowing slightly in the second quarter, growing by 0.2% quarter-on-quarter and 0.9% year-on-year.
6. [Economic Sentiment Index] The economic sentiment index of the euro area fell slightly to 95.8 in July, but higher than the expected 95.2, the industrial sentiment index fell to -10.5, and the service sector sentiment index fell from 6.5 to 4.8, lower than the expected 6.3.
7. [Germany CPI] Germany's July CPI was 2.3% year-on-year, with an expected 2.2% and a previous value of 2.2%. Germany's CPI in July was 0.3% month-on-month, with an expectation of 0.3% and a previous value of 0.1%.
8. [Japan interest rate hike] On July 31, local time, the Bank of Japan announced that it would adjust the current policy rate of 0% to 0.1% to 0.25%. The rate hike is the first since the negative interest rate policy was lifted in March this year. In addition, the Bank of Japan also announced a reduction in the amount of purchases of Japan government bonds (JGBs).
9. [Industrial output value] Japan's industrial output value in June was -3.6% month-on-month, and it is estimated to be -4.5%. Japan's industrial output in June was -7.3% year-on-year, and it was estimated to be -6.4%.
10. [Unemployment rate] Japan's unemployment rate in June was 2.5%, expected 2.6%, and the previous value was 2.6%; The job-seeking ratio was 1.23, expected to be 1.24, and the previous value was 1.24.
energy
1. [Crude Oil] On July 30, international crude oil futures fell. The main United States WTI crude oil futures contract settled at $74.73 a barrel, down $1.08 or 1.4%. The main Brent crude oil futures contract settled at $78.07 a barrel, down $0.98 or 1.2%.
2. [Crude oil] According to foreign news on July 30, data released by the United States Petroleum Institute (API) on Tuesday showed that United States crude oil, gasoline and distillate inventories all fell last week. United States crude inventories fell by 4.495 million barrels, gasoline inventories by 1.917 million barrels and distillate inventories by 322,000 barrels in the week ended July 26.
3. [Diesel] Traders said that the diesel loading capacity of Russia's port of Primorsk was set at 1.17 million tons in August, and it was planned to be 1.4 million tons in July.
4. [Coal] On July 30, the coal inventory in Huanghua Port was 1.791 million tons, an increase of 6.42% from the previous day, an increase of 22.17% from the previous week, and a decrease of 15.52% from the same period last month.
5. [Coal] According to the latest data from Brisbane Port Co., Ltd. (PBPL) in Australia, in June 2024, the port of Brisbane in Queensland, Australia exported 402,600 tons of coal, an increase of 5.69% month-on-month and a year-on-year increase of 136.61%. From January to June, the total export volume of coal was 1.8676 million tons, a year-on-year increase of 95.02%.
6. [Thermal coal] Thermal coal in Beigang market is temporarily running steadily, and the transaction price of Q5000 on the 30th is about 760 yuan/ton. As of July 29, the inventory of the eight ports around the Bohai Sea was 23.288 million tons, a decrease of 82,000 tons from the previous day.
7. [Coking coal] On July 31, the auction price of coking coal in Lvliang market declined, with the starting price of Lishi low-sulfur main coking coal A11, S1.0 and G85 at 1,800 yuan/ton, and the listing of 30,000 tons of full unsold auction, with an average transaction price of 1,869 yuan/ton on July 24 in the previous period; The starting price of Zhongyang low-sulfur main coking coal A11, S0.7 and G90 was 1,830 yuan/ton, and the transaction price was 1,830 yuan/ton, down 40 yuan/ton from July 23 in the previous period.
8. [Coking coal] On July 30, the price of coking coal blending in Changzhi market fell, and after the fall, the low-sulfur lean coal A10.5, S0.5 and G5 were implemented at 1120 yuan/ton, down 60 yuan/ton, down 60 yuan/ton this month; Low-sulfur lean coal A10.5, S0.5, G15 implemented 1200 yuan/ton, down 80 yuan/ton, down 110 yuan/ton this month, all of which are railway cash prices including tax.
9. [Coking coal] On July 30, the coking coal of Mongolia National Primary TT Company conducted an online auction, and the starting price of Meng 4# raw coal A16.88, V27, S0.95, G77 and Mt0.53 was 150 US dollars / ton, an increase of 5 US dollars / ton from July 19 in the previous period, and the listed quantity of 96,000 tons was all unsold, and the above prices did not include tax. The place of supply is the Ganqimaodu Port Supervision Area in China, and the delivery time is within 90 days after payment.
chemical industry
1. [DMF] On July 30, the 120,000 tons/year DMF plant of Jiutian Fine Chemical Industry in Anyang, Henan Province was shut down, and the restart time was to be determined.
The 100,000 tons/year DMF plant of Henan Ruibai New Materials continues to be shut down, and the opening time is uncertain.
2. [Soda ash] Hubei Shuanghuan soda ash plant is operating normally, soda ash is not quoted for the time being, and the equipment is expected to be overhauled at the end of August or early September.
3. [Methanol] On July 30, the starting price of Yankuang Guohong methanol was lowered by 40 yuan/ton to 2330 yuan/ton, with a quantity of 1,500 tons and a double furnace operation of 640,000 tons/year coal-to-methanol plant.
4. [Methanol] On July 26, Natgasoline's 1.75 million tons/year methanol plant was temporarily reduced or stopped for a short time, and the specific situation remains to be tracked.
5. [Ethylene glycol] On July 30, the export of ethylene glycol from the mainstream ports in East China was as follows: about 5,400 tons of MEG were shipped in the mainstream reservoir area of Zhangjiagang; About 6,500 tons of MEG were shipped from the two mainstream reservoir areas in Taicang.
6. [Styrene] On July 31, Shandong Lihuayi 8+720,000 tons/year plant had a normal output, and the current sales were 9,270 yuan/ton, down 30 yuan/ton from the previous trading day and 150 yuan/ton from the beginning of the month.
7. [Phthalic anhydride] On July 31, the production capacity of Changzhou Xinyang phthalic anhydride plant was 100,000 tons, and the manufacturer's device started 6 percent, and the price of phthalic anhydride was 8,000 yuan/ton, down 50 yuan/ton.
8. [Acrylic acid] On July 31, Wanhua Chemical's acrylic acid in North China was quoted at 6,700 yuan/ton, and the acrylic acid plant with an annual production capacity of 300,000 tons was operating normally.
9. [Melamine] On July 31, Shanxi Fengxi melamine ex-factory price was 6,300 yuan/ton, down 200 yuan/ton from the 30th, and the plant's production capacity was 140,000 tons.
10. [Hydrofluoric acid] On July 30, Henan polyfluorine and anhydrous hydrogen fluoride plant has a production capacity of 100,000 tons, a total of four lines, and the current device has four lines and three lines. The company produces anhydrous hydrogen fluoride for partial self-use, for lithium hexafluorophosphate, electronic acid production-based, part of the external sale, the latest price of 10,500 yuan/ton, real single talk.
11. [TDI] It is understood that the settlement price of Shanghai BASF TDI in July was 13,400 yuan/ton, and the listing price in August was 18,000 yuan/ton.
12. [PX] Sinopec paraxylene settlement price in July 2024 was introduced, with an implementation of 8,550 yuan/ton, down 120 yuan/ton from the settlement price in June 2024 and 350 yuan/ton from the listed price in July.
13. [Butadiene] On July 30, some domestic butadiene companies announced the auction price: Liaoyang Petrochemical 400 tons of bidding for export, and the auction reserve price was 12,000 yuan/ton; Fushun Petrochemical exported 240 tons, with a reserve price of 11,800 yuan/ton; North Huajin stopped for maintenance on July 12, and plans to restart at the end of August and suspend quotations; Dalian Hengli price 12,860 yuan / ton; The price of Shenhua Ning coal is 11,770 yuan/ton.
14. [BDO] On July 30, the domestic BDO market declined: the mainstream negotiation of spot bulk water in East China was 8800-8900 yuan/ton, the barrel negotiation was 9900-10000 yuan/ton (acceptance delivery), and the high-end was reduced by 100 yuan/ton. The mainstream negotiation of spot bulk water in South China is 8800-9000 yuan/ton, and the low-end is reduced by 100 yuan/ton; Barrel negotiation 10,000-10,100 yuan/ton (acceptance delivery), high-end reduction of 100 yuan/ton.
Rubber and plastic
1. [PET] On July 30, the Ministry of Strategy and Finance of Korea issued Announcement No. 2024-32, deciding to impose temporary anti-dumping duties on PET resin or polyethylene terephthalate resin originating in China for a period of four months from now on, valid until November 29, 2024.
2. [ABS] Shandong Haijiang ABS plant has a total production capacity of 200,000 tons/year, and the current load situation is more than 60%.
3. [PP] Luoyang Petrochemical PP two sets of production units have a total production capacity of 220,000 tons/year, 80,000 tons/year of the old line is parked for materials, and 140,000 tons/year of the new line has a normal load.
4. [PE] On July 30, the PE unit of Jilin Petrochemical Co., Ltd. operated normally, with 280,000 tons of linear units producing 7,042 tons and 300,000 tons of HDPE units producing GC100S.
The PE unit of Fushun Petrochemical is operating normally, with an annual production capacity of 80,000 tons, the old HDPE unit produces 2911, the new HDPE unit with an annual capacity of 350,000 tons is converted to 5060, and the LLDPE unit with an annual production capacity of 450,000 tons produces 7042N.
5. [PE] From January to June 2024, PE imports totaled 6.5382 million tons, an increase of 3.38% over the same period last year; From January to June 2024, PE exports totaled 450,300 tons, a decrease of 3.92% from the same period last year.
6. [Rubber] According to the official website of the Osaka Exchange (OSE), as of July 20, 2024, the inventory of rubber (RSS) in the warehouses designated by the exchange was 5,138 tons, a decrease of 388 tons from 5,526 tons as of July 10.
textile
1. [Textile Profit] National Bureau of Statistics: From January to June 2024, the total profit of the textile industry was 32.33 billion yuan, up 19.3% year-on-year. The total profit of the textile, garment and apparel industry was 24.06 billion yuan, down 1.8% year-on-year. The total profit of the chemical fiber manufacturing industry was 12.65 billion yuan, up 127.9% year-on-year.
2. [Viscose staple fiber] In June 2024, the domestic output of viscose staple fiber was about 333,600 tons, up 0.54% year-on-year and 0.45% month-on-month.
3. [Nylon filament] In the first half of 2024, the domestic nylon filament market output will be about 1.44 million tons, an increase of 18.36% year-on-year, and the on-site supply is relatively sufficient.
4. [Cotton] According to the statistics of the Xinjiang inspection point of the national cotton trading market, the total amount of cotton transportation out of Xinjiang by road in the week of July 22 to July 28, 2024 increased by 3,000 tons month-on-month, an increase of 5.7%, and a year-on-year increase of 8,000 tons, an increase of 17.1%.
5. [Cotton] According to the cotton production report released by the Ministry of Agriculture of United States, as of July 28, 2024, the budding rate of cotton in United States was 87%, an increase of 3 percentage points over the same period last year; The boll rate of cotton in United States was 54%, an increase of 10 percentage points over the same period last year; United States cotton was in good condition or above 49%, down 4 percentage points from the previous week and up 8 percentage points from the same period last year.
6. [Cotton] According to CONAB, a national commodity supply company under the Ministry of Agriculture of Brazil, as of July 28, the cotton harvest rate in Brazil was 24.8%, compared with 20.45% last week and 28.3% in the same period last year.
7. [Cotton] According to customs data, the average selling price of Brazil cotton in 2023/24 is 89.48 cents / pound, 3% lower than the average price of US cotton, and the price difference has expanded by 2% compared with last year, and the price advantage has further emerged.
steel
1. [Scrap] On July 30, the total scrap inventory of 300 parent and short-process representative steel mills across the country was 5.142 million tons, down 10,600 tons or 0.21% from the previous day; The inventory turnover day was 8.9 days, unchanged from the previous day.
2. [Galvanized sheet] On July 30, statistics showed that 154 national galvanizing enterprises shipped a total of 13,359 tons, a decrease of 1,971 tons or 12.86% from the previous trading day. The largest decrease was in East China, which decreased by 620 tons, or 13.09%, from the previous trading day.
3. [Iron ore] On July 29, the total inventory of imported iron ore in China's 47 ports was 156,662,800 tons, down about 270,000 tons from last Monday, and the total inventory in 45 ports was 150,782,800 tons, down about 500,000 tons from last Monday.
4. [Iron ore] From July 22 to July 28, the total iron ore inventory in the seven major ports of Australia and Brazil was 12.621 million tons, up 452,000 tons from the previous month, and the absolute inventory was slightly lower than the average since the beginning of this year.
5. [Manganese and silicon] According to incomplete statistics, in July, there were 21 silicon-manganese in production in other parts of the south (Sichuan-Chongqing, Hunan, Yunnan and other places), 42 furnaces were opened in the middle of the month, and 40 furnaces were opened at the end of the month, with an output of about 144,600 tons, of which the output of silicon-manganese 6517 was about 134,000 tons. The silicon-manganese plant in Yunnan has basically reached production, and the output has increased significantly.
6. [Manganese silicon] The latest silicon-manganese alloy bidding price of a steel mill in the south was finalized at 6,500 yuan/ton in cash, down 350 yuan/ton from the previous round of procurement price, and the purchase quantity was 1,000 tons.
7. [Manganese and silicon] Xinyu Iron and Steel bidding in August: 6,000 tons of silicon and manganese, registration deadline: 10:00 on August 2, 2024, quotation deadline: 14:20 on August 2, 2024, and required delivery date: August 31, 2024.
8. [Ferrosilicon] Xinyu Iron and Steel August bidding: 800 tons of ferrosilicon, registration deadline: 10:00 on August 2, 2024, quotation deadline: 14:20 on August 2, 2024, required delivery date: August 25, 2024.
9. [Ferrosilicon] The latest ferrosilicon bidding price of a large steel mill in East China was finalized, which was 6935 yuan/ton for tax-included acceptance, which was 220 yuan/ton lower than the previous price, and the purchase volume was constant; The new round of ferrosilicon bidding price of a steel mill in Jiangsu is 6880 yuan/ton, down 220 yuan/ton from the previous round, and the purchase quantity is 500 tons.
10. [Steel] China Iron and Steel Association: In mid-July 2024, key statistics will show that iron and steel enterprises will produce a total of 21.4836 million tons of crude steel, 19.2562 million tons of pig iron, and 20.3653 million tons of steel. Among them, the daily output of crude steel was 2.1484 million tons, down 0.16% month-on-month, down 4.42% year-on-year and up 5.42% year-on-year; The daily output of pig iron was 1.9256 million tons, an increase of 0.02% month-on-month, a decrease of 4.12% over the same period last year, and an increase of 1.27% over the same period of the previous year; The daily output of steel was 2.0365 million tons, an increase of 2.90 month-on-month