设正点财经为首页     加入收藏
首 页 财经新闻 主力数据 财经视频 研究报告 证券软件 内参传闻 股市学院 指标公式
你的位置: > 正点财经 > 研究报告 > 正文

Metals &Mining Alert:Daily prices and news,China pollution control may eliminate ~32mt of steel

类型:行业研究  机构:德意志银行   研究员:Jorge Beristain,Chris Terry  日期:2017-10-12
http://www.zdcj.net      点击收藏此报告
    

Industrials (/lb): aluminum $0.95 (0.0%), copper $2.95 (+0.2%), lead $1.14(+1.3%), molybdenum $7.14 (+0.0%); nickel $4.71 (-1.0%); zinc $1.47 (+2.3%);Precious (/oz): gold $1,271 (-0.7%), silver $16.59 (-0.4%); Steel (/mt): ChinaHRC $610 (+0.0%), SHFE Rebar $542 (+0.0%), MB Scrap Index $295 (+0.0%);Bulks: iron ore (/dmt) $62 (+0.0%), coking coal (/mt) $188 (-1.5%), freight (BCI).

    2,671 (-2.4%); Energy: Brent (/bbl) $56.12 (-2.5%), WTI (/bbl) $50.58 (-2.1%),natural gas (/mmBtu) $2.92 (-3.0%), thermal coal (/t) $96 (-1.4%).

    China’s clampdown on pollution could result in steel production cuts totaling31.5mt (~4% of China’s 2017 annualized output), per CFLP Steel LogisticsProfessional Committee. If all mills in the major provinces (28 cities) operate at50% from Nov 15-March 15, as per government’s directive, steel output willdecrease by 32mt. Steel prices expected to be range-bound at high levels asslowdown of infrastructure projects will result in sluggish demand. (SBB).

    US manufacturing activity (~12% of GDP) rose to 13-year high in Sept assupply chain disruptions caused by Hurricanes Harvey and Irma resulted inlengthening suppliers delivery time and boosted raw material prices. ISM’sindex of national factory activity surged to 60.8 in Sept (vs. 58.8 in Aug).

    Manufacturing outlook remains bullish as inventories remained low and mostindustries reported growth, with new orders rising to 64.6 (vs. 60.3). (Reuters).

    US construction spending edges up 0.5% MoM to SAAR of $1.22tn in Aug(+2.5% YoY). Private spending SAAR totaled $955bn (+0.4% MoM) and public$264bn (+0.7%). YTD (thru Aug), spending totaled $806bn (+4.7% YoY). (SBB).

    China’s manufacturing PMI reaches 5-year high of 52.4 in Sept (vs. 51.7 inAug, vs. Reuter’s survey of 51.5). Production, new orders and increasingoutput prices contributed to the rise. However, Caixin PMI fell to 51 (vs. 51.6),as new export order growth slipped. Steel PMI fell 3.5 points to 53.7 as risingmill inventories indicated construction had slowed down on environmentalchecks. Production, new orders and export orders declined. (Reuters).

    US steel output falls 0.8% WoW to 1.71m st (+7.2% YoY), with utilization at73.2% (-50bps WoW, +520 bps YoY) for the week ending 9/30. YTD outputtotaled ~67.8m st (+3.7% YoY), with utilization at 74.6% (+250 bps YoY). (AISI).

    Protestors in Northern Mexico block access to Goldcorp’s Penasquito goldmine (production of 465koz in 2016) for fourth consecutive day. Entrances tothe mine have been occupied since Thursday as protestors demand thecompany’s commitment to supply neighboring communities with water.

    Company has not detailed any potential impact to production. (Reuters).

    Freeport-McMoRan disagrees with divestment plan proposed by governmentof Indonesia, per letter sent to Ministry on Sept 28. CEO, Richard Adkerson,said the company is prepared to discuss a path forward for Grasbergdivestment, but cannot negotiate based on latest proposal. (Mining.com)

相关报告:
热点推荐:
更多最新研究报告
更多财经新闻
  • 如果不能阅读报告,请点击下载阅读器
关于我们 | 商务合作 | 联系投稿 | 联系删稿 | 合作伙伴 | 法律声明 | 网站地图