- Three PMI indexes as one of the leading indicators of economic operation, the purchasing manager index (PMI) has now remained in expansion territory for 13 months in a row. In March, China’s manufacturing PMI, non-manufacturing business activity index and comprehensive PMI output index were 51.9%, 56.3% and 55.3%, respectively, up 1.3%, 4.9 and 3.7 percentage points from the previous month.
- Measures to support the development of small and medium-sized enterprises from the recent successive executive meetings of the State Council to the video forum of some local government leaders, the Central government has released a new round of strong signals to benefit enterprises, including planning a new round of tax reduction and fee reduction policies for small, medium and micro enterprises, further reducing financing costs and expanding financing channels.
- Forecast of China Nonferrous Metals Industry Association this year, the production of non-ferrous metals has maintained a stable operation, with an annual growth of about 3%. It is expected that the prices of major non-ferrous metals will remain high and volatile in the first half of the year, and the possibility of a correction in the second half of the year will not be ruled out, but the annual average prices will still be better than 2020. The investment in fixed assets of the nonferrous metals industry is roughly the same as that in 2020, and there is little possibility of substantial growth or decline. The gross profit of Aluminium Ingot is currently increasing.
- Aluminium inventory began to decline as downstream producers have gradually accepted high prices SMM data showed that social inventories of aluminium ingots across China’s eight major markets totalled 1.24 million Metric Tons as of March 25, down 7,000 from a week ago. Arrivals were largely stable, and most of the imported aluminium ingots went directly to downstream producers. Aluminium prices rallied following the decline, and downstream producers have gradually accepted high prices. The market needs to pay attention to arrivals and procurement that is not driven by rigid demand. It remains to be seen whether inventory will extend the downward trend.
News of Corporates
- On March 31, the 6 million personalized wheels project of CITIC Dicastal Southern intelligent manufacturing base in Wangcheng economic development zone was put into production. This time, the capacity of 6 million individual wheels will be increased, making the capacity of CITIC Dicastal Southern intelligent manufacturing base reach 12 million. Since 2008, the sales volume of aluminium alloy wheel has been ranked first in the world for 13 consecutive years. She is the “single champion” enterprise in the aluminium alloy wheel manufacturing industry.
- Zhongwang announced the separation of Liaoning Zhongwang aluminium alloy deep processing Co., Ltd., and newly established Liaoning Zhongwang Aluminum Alloy Technology Co., Ltd. to undertake the business of track body and rail vehicle parts. Zhongwang intensive processing of the surviving company will focus more on the field of new energy vehicles, and concentrate on focusing on new energy vehicles Energy vehicle all aluminium alloy body and spare parts R & D and manufacturing.
- The Suez Canal stranding accident of “Ever Given” was resolved on the 29th of March after numerous days of manoeuvring it. Shoe Kisen, the owner of “Ever Given”, announced the general average on April 1st. This means that all parties interested in the goods will be required to provide a general average guarantee before the delivery of the goods, and the cargo owner will fall into a long waiting period.
- According to the latest data released by Alphaliner, the total capacity of the global container ships operating on April 2nd, 2021, was 24,478,908 TEU, an increase of 121,612TEU compared with a month ago. Currently, 6,194 Container ships are operating globally, 43 container ships less prior to January. The total tonnage of container ships operating globally reached 294,721,098 DWT (Deadweight Ton).
NILO SHANGHAI TEAM