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2022
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08
Hot spot of the week! What are the major global mining events this week?(7.31-8.6)
CCTV news on August 1, the the People's Republic of China Futures and Derivatives Law came into effect on August 1. The law makes up for the legal "short board" in the field of futures and derivatives in China. The biggest bright spot and breakthrough is to bring derivatives trading into the scope of legal adjustment, and establish the three major functions of "price discovery, risk management and resource allocation", which has boosted the confidence of market participants and attracted more hedgers and institutional investors to participate. In addition, the implementation of the the People's Republic of China Futures and Derivatives Act provides a more powerful tool and grip for futures to serve the real economy. Energy, minerals and other bulk industrial chain
The Futures and Derivatives Law came into effect on August 1, and upstream and downstream enterprises in the bulk industrial chain such as energy and minerals can manage price risk through hedging and basis trading.
CCTV news on August 1, the the People's Republic of China Futures and Derivatives Law came into effect on August 1. The law makes up for the legal "short board" in the field of futures and derivatives in China. The biggest bright spot and breakthrough is to bring derivatives trading into the scope of legal adjustment, and establish the three major functions of "price discovery, risk management and resource allocation", which has boosted the confidence of market participants and attracted more hedgers and institutional investors to participate. In addition, the implementation of the the People's Republic of China Futures and Derivatives Act provides a more powerful tool and grip for futures to serve the real economy. Upstream and downstream enterprises in the bulk industrial chain such as energy and minerals, especially small, medium and micro enterprises, can manage price risks through hedging and basis trading to achieve integrated production, supply and marketing operations. Li Zhengqiang, a researcher at the School of International Economics and Trade of the University of International Business and Economics, said that if my country wants to increase the influence of commodity prices, it needs to attract more overseas market participants to trade in the Chinese futures market, so that Chinese and foreign market participants can jointly trade a The price of bulk commodity futures denominated in RMB is used as the pricing benchmark for my country's bulk commodities. In this process, there is an even greater need for a futures and derivatives law as a safeguard.
Extend the industrial chain of intensive processing of renewable resources, and promote efficient recycling of steel, copper, aluminum, lead, zinc, nickel, cobalt, lithium, tungsten, etc.
On the website of the Ministry of Industry and Information Technology, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Ecology and Environment jointly issued the ''Notice on the Implementation Plan for Carbon Peak in the Industrial Sector'', mainly related to mining content: First, guide non-ferrous metals The production capacity of other industries is transferred in an orderly manner to areas where renewable energy is rich and resources and environment can be carried. The second is to extend the industrial chain of intensive processing of renewable resources, and promote the efficient recycling of steel, copper, aluminum, lead, zinc, nickel, cobalt, lithium, and tungsten. Third, we should focus on controlling the consumption of fossil energy, orderly promote the reduction and substitution of coal in iron and steel, building materials, petrochemical industry, non-ferrous metals and other industries, develop modern coal chemical industry in a steady and orderly manner, and promote the efficient and clean utilization of coal by quality and classification. The fourth is to improve the energy efficiency of key energy-using equipment, focusing on the promotion of new energy-saving equipment such as rare earth permanent magnet coreless motors. Fifth, focus on key industries and formulate carbon peak implementation plans for steel, building materials, petrochemical chemicals, non-ferrous metals and other industries. Six is to support tailings, fly ash, coal gangue and other industrial solid waste large-scale high-value utilization.
In the first half of the year, the non-ferrous metals industry ran smoothly, with primary nickel and lithium salt production increasing by 6.9 percent and 38 percent year-on-year, respectively.
The Ministry of Industry and Information Technology website, August 3, the Ministry of Industry and Information Technology Department of Raw Materials Industry recently released the operation of my country's non-ferrous metal industry in the first half of the year. There are three main characteristics: First, production to maintain steady growth. According to data from the National Bureau of Statistics, the industrial added value of the non-ferrous metal industry in the first half of the year increased by 5% year-on-year, 1.6 percentage points higher than the industrial average. The output of ten non-ferrous metals was 32.83 million tons, up 1% year on year. Among them, the output of copper, aluminum and lead increased by 2.5, 0.7 and 3.1 respectively, while the output of zinc decreased by 1.7. Driven by the rapid development of new energy industry, the output of primary nickel and lithium salt increased by 6.9 and 38% respectively. The second is that the price rises first and then falls. According to data from the China Nonferrous Metals Industry Association, the average prices of copper, aluminum, zinc, nickel, cobalt, and lithium in the first half of the year were 71750 yuan/ton, 21435 yuan/ton, 26012 yuan/ton, 206000 yuan/ton, and 514000 yuan/Ton, 453000 yuan/ton, an increase of 7.7, 23%, 15.1, 57%, 48.5, and 454 year-on-year. In the second quarter, due to the tightening of global liquidity, sluggish downstream demand and other factors, the prices of major products fell back, June 30, copper, aluminum, zinc, nickel, cobalt prices fell 15.2 percent, 19.4 percent, 15.9 percent, 44.2 percent, 32.5 percent, respectively, from this year's highs. Third, the volume and price of imports and exports increased. According to data from the General Administration of Customs, in terms of exports, my country exported 3.509 million tons of unwrought aluminum and aluminum materials in the first half of the year, a year-on-year increase of 34.1 percent, and the export value was US $14.35 billion billion, a year-on-year increase of 72.4 percent. In terms of imports, 12.481 million tons of copper concentrate were imported in the first half of the year, an increase of 8.6 percent over the same period last year, with imports amounting to US $31.35 billion, an increase of 13.6 percent over the same period last year; imports of unwrought copper and copper were 2.942 million tons, an increase of 5.3 percent over the same period last year, and imports amounted to US $29.8 billion, an increase of 17.1 percent over the same period last year.
Ningde Times and Chengdu Municipal Government Sign Strategic Cooperation Framework Agreement
Ningde Times Official Wei, August 1, Ningde Times and the Chengdu Municipal Government signed a strategic cooperation framework agreement. The two parties will carry out all-round cooperation in power exchange operations, research and development, comprehensive utilization of resources, manufacturing of key battery materials, new energy and energy storage. At the same time, Ningde Times, Times Electric Service and Times Yongfu signed cooperation agreements with Chengdu Xinjin District Government, Chengdu Exchange Group and Chengdu Environment Group respectively. In terms of power exchange cooperation, the two sides will actively promote the research and development and application of power exchange technology. In terms of research and development, the two parties will conduct innovative technology research, product and scenario innovation development, and project incubation around new energy development and utilization, power batteries, new energy storage, and zero-carbon transportation. In terms of comprehensive utilization of resources, the two sides will devote themselves to building Chang'an Venous Industrial Park into a zero-carbon demonstration park and promoting it to the whole country. This signing is an important measure of Ningde era in the layout of the whole industrial chain in Sichuan Province. In the future, Ningde era will give full play to its comprehensive advantages to help Chengdu become an important source of innovation for the high-quality development of the national lithium-electric industry and a leading domestic demonstration city for interconnection and interconnection.
Huayou Cobalt signed a strategic cooperation agreement with China's Enfei, which will carry out in-depth cooperation around the development of nickel-cobalt lithium resources.
China Nonferrous Metals News, August 3, Zhejiang Huayou Cobalt Industry Co., Ltd. and China Enfei Engineering Technology Co., Ltd. recently signed a strategic cooperation agreement. The two parties will give full play to their respective advantages in industry, capital, technology, and market. Carry out in-depth cooperation in the lithium battery material industry such as nickel-cobalt lithium resource development, green refining, battery materials, and recycling. The two parties stated that they will inject strong impetus into the development of my country's new energy materials industry and the realization of the national "dual carbon" strategic goal through a multi-level and all-round business model.
In response to the energy crisis, the Secretary-General of the United Nations put forward four suggestions: levying an "excessive profit tax" on energy companies and increasing investment in clean energy.
CCTV News, August 4, the United Nations Global Food, Energy and Financial Crisis Response Group (GCRG) recently released a third report stating that due to the conflict between Russia and Ukraine, global energy prices continue to rise, and the energy crisis has exacerbated the lives of hundreds of millions of people. cost. At the same time, the world's major oil and gas companies have generally made huge profits from it. To this end, the report makes four recommendations: first, to impose an "excessive profit tax" on energy companies ". Governments are advised to develop the most effective energy solutions. For example, publicly funded cash transfers and tax rebates to protect vulnerable communities everywhere, while imposing an "excessive profits tax" on large oil and gas companies ". Second, developed countries save energy and avoid potential "energy wars". Third, countries should accelerate the transition to renewable energy. Fourth, increase investment in clean energy. According to statistics, the combined profits of ExxonMobil, Chevron, Shell and Total Energy in the most recent quarter were as high as $51 billion, almost twice that of the same period last year. To this end, UN Secretary-General Guterres called on governments to tax these excess profits and use the collected funds to help the vulnerable. It is worth mentioning that the United Kingdom announced last month that it would impose a 25% "excessive profit tax" on oil and gas companies. US congressmen have also conducted similar discussions, but the possibility of Congress passing it may be very small.
Indonesia to issue new tax rules on nickel exports in the third quarter
IMPORTANT NEWS
Reuters, August 1, a senior Indonesian official recently revealed that the country will issue new nickel export tax regulations in the third quarter, and plans to impose export taxes on nickel and ferronickel. The move aims to increase the country's nickel export earnings while encouraging more domestic enterprises to produce higher-value nickel products. It is reported that Indonesia was once a major nickel ore exporter. In 2020, the Indonesian government announced a ban on the export of unprocessed nickel, focusing on the development of the country's nickel pig iron and ferronickel smelting industry, and encouraging foreign investors to invest in the country's smelting industry. At the same time, the Indonesian government is also actively using the advantages of its nickel resources to develop the electric vehicle battery industry and advocating the assembly of electric vehicles in the country. At present, Indonesia has signed battery and electric vehicle investment agreements with South Korea companies such as LG and Hyundai. President Joko also met with Tesla CEO Musk during his visit to the United States to discuss investment in the country. In addition, in order to achieve sustainable development of the country's nickel industry, Indonesia plans to strictly control the number of nickel pig iron and ferronickel smelters to ensure that the country's nickel ore service life is maintained at 25-30 years.
Zimbabwe to raise platinum and lithium tax rates, or impact on Chinese companies
Bloomberg reported that Zimbabwe plans to raise royalties for platinum producers and introduce royalties for lithium miners from January 1 next year. This is a relevant measure taken by the country to boost its finances. Zimbabwe's Finance Minister Mtri Nkube said in his mid-term budget review report to the country's legislature that the tax rate on platinum mines will be increased to 5%, and lithium producers will apply the same amount of the new tax rate. It is reported that Zimbabwe has the world's third largest known platinum reserves, after Russia and South Africa. As the market share of electric vehicles continues to rise and the price of lithium rises, many Chinese companies choose to invest in mining in Zimbabwe. In May of this year, Shengxin Lithium Energy and China Mineral Resources Group Co., Ltd. established a joint venture in Zimbabwe. The scope of business includes the exploration and development of lithium and platinum projects in Zimbabwe. During the same period, Zhejiang Huayou Cobalt plans to invest US $0.3 billion to develop its newly acquired Arcadia project in Zimbabwe. The new tax policy released this time may have an impact on Chinese enterprises.
Australian lithium miner Pilbara completes eighth lithium concentrate auction for $6350/tonne
China Securities Journal, Pilbara official website on August 3, the Australian lithium miner Pilbara (Pilbara) announced that its auction platform held its eighth lithium concentrate auction on August 2. The final transaction price was $6350 per tonne, up 2.6 per cent from the seventh auction on July 13 and $5100 per tonne from the first auction in 2021, up 408 per cent. A total of 5000 tons of 5.5-grade lithium concentrate was auctioned. A total of 67 bids were received during the 30-minute auction. It is expected to be delivered in mid-September, equivalent to a CIF price of about US $7012/ton. Shanghai Steel Union said that according to the freight rate of US $90/ton, the cost equivalent to battery-grade lithium carbonate exceeds 450000 yuan/ton, and the output lithium carbonate is expected to circulate in December. It is worth noting that the auction price of Pilbara lithium concentrate on July 13 was US $6188/ton, which was the first decline in its auction history. Some analysts believe that the auction price has regained its upward trend, reflecting that the market is still optimistic about the price of lithium salt. Industry insiders pointed out that the Pilbara lithium concentrate auction has always been the vane of the global lithium concentrate price trend. The volume of each auction is not large. Under the current huge global demand for lithium ore resources, it creates a sense of scarcity, which makes it easier to sell. Higher prices have played a role in boosting the flames in this round of lithium ore price increases.
BHP Billiton to increase nickel exploration spending in next 2 years
Bloomberg News, August 3, the head of BHP Billiton's nickel business recently stated that the company will increase expenditures on nickel exploration in the next two years to meet the growing market demand for nickel ore. At present, BHP Billiton has signed nickel supply agreements with Tesla and Toyota through its subsidiary NickelWest, and reached an agreement with Ford. It is reported that the company owns 120000 hectares of land in the Agnew-Wiluna belt of Western Australia, which is the world's second largest nickel sulfide resource base, with nickel reserves of more than 7.4 million tons, most of which are undeveloped. As the power battery market continues to heat up, nickel ore, as one of the key raw materials for power batteries, has a strong market demand in recent years. The company predicts that with the substantial increase in demand for power batteries and traditional stainless steel, the market demand for nickel in the next 30 years will be 200-300 percent of the previous 30 years.
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