China.com:On February 1, the State Council Information Office held a press conference on the fiscal revenue and expenditure for the whole year of 2023. Vice Minister of Finance Wang Dongwei said at the meeting that efforts will be made to expand domestic demand in 2024. Mainly from the two aspects of investment and consumption. From the point of view of investment, it is necessary to expand investment with benefits. This year, we will make good use of the relevant treasury bond funds, continue to arrange a certain scale of local special bonds, appropriately increase the scale of investment in the budget, etc., and give full play to the amplification effect of investment. From the perspective of consumption, it is necessary to stimulate potential consumption.
ShanghaiNewspaper:The Caixin China Manufacturing Purchasing Managers' Index (PMI) for January 2024, released on February 1, recorded 508, the same as the previous month. For the first time since June 2021, the index has been in expansion territory for three consecutive months. Black**
Iron ore:On February 1, the total inventory of imported sintered powder of 114 steel mills of new caliber was 3187420,000 tons, an increase of 141 from the previous period110,000 tons. The total daily consumption of sintered powder is 107890,000 tons, down 2470,000 tons. After excluding the samples that have been suspended for a long time, the cost of molten iron excluding tax was 2,997 yuan tons, a decrease of 4 yuan tons. (mysteel)
Steel:As of the week of February 1, the national thread production decreased for the sixth consecutive week, the factory warehouse increased for two consecutive weeks, the social treasury increased for the eighth consecutive week, and the table demand decreased for the fourth consecutive week. (mysteel)
Recently, under the influence of cold air, the diffusion conditions in Tangshan have gradually improved, and the pollution process has basically ended. The Tangshan Heavy Pollution Weather Response Headquarters has decided that the city's heavy pollution weather level emergency response will be lifted from 8 o'clock on February 1, 2024, and the billet rolling mill can resume normal production from now on. According to the research data of Mysteel on January 31, the operating rate of 35 billet steel enterprises in Tangshan area was 1277%, and the operating rate is expected to recover to 17 on February 102% or so, the enthusiasm of steel mills to resume production is not high. (mysteel) agricultural productsSoybeans:The large number of Brazilian soybean listings is impacting the global soybean market, and the current public information in overseas markets shows that the spot price of Brazilian soybeans** has been at the bottom in several months. According to market analysts, soybean production in four South American countries may increase by more than 20 million tons year-on-year, and previous data show that the global soybean market is not in short supply. (Xinhua Finance).
Palm Oil:Recently, palm oil imports have decreased to Hong Kong, and domestic palm oil inventories have continued to decline. According to monitoring, on January 26, palm oil inventories in coastal areas were 740,000 tons (including 690,000 tons of edible palm oil), down 50,000 tons week-on-week, 130,000 tons month-on-month, down 260,000 tons from the high point on November 10, and down 150,000 tons from the same period last year. Among them, 70,000 tons of edible palm oil are in Tianjin, 40,000 tons in Shandong, 290,000 tons in Zhangjiagang, Jiangsu, and 250,000 tons in Guangdong. (National Cereals and Oils Information Center).
Starch:Survey data show that in the week of January 25 to January 31, the operating rate of starch enterprises in the country was 7411%, unchanged from last week and significantly higher than the same period in previous years. The yield of corn starch was 37490,000 tons, the same as last week's output. (mysteel)
ColoredShanghai Copper:As of Thursday, February 1, SMM's copper inventory in mainstream areas across the country increased by 1030,000 tons to 10230,000 tons, an increase of 1 from last Friday710,000 tons, 3 consecutive weeks of weekly accumulation, and there are signs of acceleration. (smm)
Lithium carbonate:According to Yahua Group, on January 31, a truck fleet loaded with nearly 300 tons of lithium concentrate drove from the Kamativi mine to Beira Port, and the first batch of 5,000 tons of lithium concentrate will be transported to China one after another, which marks the official entry of Yahua Group's own mine Kamativi into the company's lithium resource guarantee system. (Xinhua Finance).Energizing**
Ethylene glycol:As of February 1, the total inventory of MEG ports in the main port area of East China was 77960,000 tons, a decrease of 0330,000 tons, a decrease of 042%。(Longzhong Information).
In the United States, EIA** inventories fell by 197 in the week to January 2620,000 barrels. (Finance Associated Press).
According to the U.S. Energy Information Administration, U.S. production rose 06% to 13.31 million barrels per day, setting a new monthly record. (Finance Associated Press).Pulp:As of February 1, 2024, the sample inventory of China's mainstream pulp ports was 18370,000 tons, down 1 from the previous period10,000 tons, down 06%, the inventory continues to show a trend of destocking in this cycle. (Longzhong Information).
Soda ash:As of the week of February 1, the total inventory of domestic soda ash manufacturers was 37630,000 tons, down 2990,000 tons, a decrease of 736%。Among them, 19840,000 tons, heavy inventory 17790,000 tons. (Longzhong Information).
21:30 U.S. initial jobless claims for the week to January 27; USDA Net Export Sales Report.
22:45 US Markit Manufacturing PMI (January).
23:00 US ISM Manufacturing PMI (January)
23:30 EIA natural gas inventories in the United States for the week to January 26 (Article**: Oriental Wealth Research Center).