Newsletter summary
Pig prices rebounded for four months in a row, local bond issuance increased; employment growth in the United States may stagnate, China's real estate market is running low, TOP100 real estate sales fell 44.9% in April compared with the same period last year; steel scrap inventory decreased, iron ore blast furnace operating rate increased; pork and sugar prices rose, corn production decreased; lithium carbonate prices were stable, silver, industrial silicon demand was strong Crude oil production has increased, methanol stocks have risen, and the ECB has room to cut interest rates.
Text of news flash
[pig prices rose in April in a row, and the average price in the wholesale pork market rose by 0.3%]
In the overnight market, pig prices showed signs of recovery, rising for four months in a row. As of 8 May 14BestpinballmachinesAt 00:00, the average price of pork in the national agricultural products (000061) wholesale market was 20.45 yuan / kg, up 0.3% from yesterday.
[local bond issuance and net financing are significantly lower than in the same period last year]In terms of macro industry and economy, the scale of local bond issuance and net financing in the first four months of this year was much lower than that in the same period last year, and the market generally expected that special bond issuance would soon accelerate. The amount of local bonds issued from May to June is expected to be nearly 1.7 trillion yuan, and the issuance of special treasury bonds may fall in May, and the peak of government debt supply will come.
[job growth in the United States may stagnate in a few months]After the US Labor Bureau released an unexpected "cold" April non-farm payrolls report at the beginning of this month, the employment trend index released by the World Federation of large Enterprises this week added to the prospect of the Federal Reserve cutting interest rates.BestpinballmachinesThere was a fire. As the leading index continued to decline in April, economists said it was a sign that U. S. job growth could stall in a few months' time.
[from January to April 2024, the sales volume of China's real estate market decreased by 46.8% compared with the same period last year]China's real estate market continued to operate at a low level from January to April 2024, according to a report released by the Carey Research Center. In April, TOP100 real estate enterprises realized sales of 312.17 billion yuan, down 12.9% from the previous month and 44.9% from the same period last year, and the monthly performance remained at a historically low level. From the cumulative performance, the top 100 housing enterprises achieved sales of 1.09141 trillion yuan from January to April, down 46.8% from the same period last year, or 0.7 percentage points lower.
[steel: total scrap inventory decreased by 0.28% compared with yesterday]In terms of black futures, the steel market, on May 8, the total scrap inventory of steel mills was 5.1339 million tons, down 14600 tons, or 0.28 percent, compared with yesterday; the inventory turnover was 9.7 days, which was the same as yesterday; the total daily consumption was 523800 tons, up 0.30 percent over yesterday; and the total daily delivery volume was 509200 tons, an increase of 2.88 percent over yesterday.
In addition, in the iron ore market on May 8, the operating rate of blast furnace was 92.53%, up 0.4% from the previous month. The utilization rate of blast furnace capacity was 93.95%, up 0.42% from the previous month. The average daily output of hot metal in the sample steel mills was 2.247 million tons, an increase of 10700 tons compared with the previous month.
[coal: capacity tightening, freight rates rising slightly]In the coal market, the price of coal in the upstream continues to rise, the volume of imported coal downstream is not as expected, the rising foreign trade market, attracting the outflow of ships engaged in both domestic and foreign trade, and other positive factors, the demand of the coastal coal transport market increases, the transport capacity tightens, and the freight rate rises slightly.
[White sugar: the quotation of China Sugar Grade I white granulated sugar has been raised by 20 yuan / ton]In the agricultural futures market, the price of white sugar rose. On May 8th, Cofco Sugar (600737) Liaoning Co., Ltd.: Cosco Grade I white granulated sugar quoted price of 6890 yuan / ton, an increase of 20 yuan / ton.
[corn: Argentine corn production is expected to decline significantly]Argentina is the world's third-largest corn exporter, but its main corn-producing areas are currently suffering from insect pests and production is expected to fall sharply. As a result, global corn supplies are likely to be hit and corn prices may rise. Some meteorologists predict that Argentina may experience another warm winter this year, and the spread of leafhopper pests may continue.
[lithium carbonate: the price is the same as last time, the average price is 112000 yuan / ton]In the non-ferrous / precious metal futures market, the price of lithium carbonate remains stable. According to data released by Shanghai Iron and Steel Federation (300226), the price of battery-grade lithium carbonate on May 8 was unchanged from the previous time, with an average price of 112000 yuan / ton. Yabo held a tender for the sale of 100 tons of battery-grade lithium carbonate on May 8th, with a final result of 111000 yuan per ton. On May 22, there will still be a tender plan for the sale of 100 tons of battery-grade lithium carbonate.
[silver: HSBC forecasts an average silver price of $25.38 / oz in 2024]HSBC forecasts an average silver price of $25.38 an ounce in 2024.
[industrial silicon: demand exceeds supply by 89200 tons]According to statistics, in April 2024, the output of primary industrial silicon was 297400 tons, the demand for industrial silicon was 401600 tons, and the demand exceeded the supply by 89200 tons.
[methanol: total port inventory increased by 15000 tons over the previous phase]In Neng Hua Futures Market, methanol Port