Recently, China’s photovoltaic installation demand has improved, exports have increased rapidly, and the sector is not light in the off-season. On the one hand, affected by the delayed installation of state-owned enterprises in the fourth quarter of 21, on the other hand, the recent decline in module prices has further stimulated the market demand. Some leading photovoltaic enterprises have carried out large-scale production expansion, which is expected to usher in the boom year of photovoltaic installation in the future. In addition, the prices of upstream resource products such as billet, rebar and power coal continued to rise this week; The prosperity of some areas of communication base stations has improved marginally. It is recommended to pay attention to the photovoltaic sector, which benefits from the distributed blue ocean, the link of optimizing the main chain pattern, the high-quality enterprises in the neighborhood of auxiliary materials with stable demand, the upstream resource sector with strong certainty of steady growth demand and the communication base station sector with marginal improvement of prosperity.
core views
[focus this week] recently, China’s PV installation and export have increased significantly, and the sector shows the characteristics of off-season in China, on the one hand, due to the delayed installation of state-owned enterprises in the fourth quarter of the year, on the other hand, the recent decline in module prices has further stimulated market demand. From January to February, China’s photovoltaic installation increased significantly year-on-year; In terms of export, the cumulative export growth rate of 1-2 Cecep Solar Energy Co.Ltd(000591) batteries exceeded 100%. In addition, a series of policies, such as the 14th five year plan for modern energy system, have recently catalyzed that the year 22 is expected to usher in the year of photovoltaic installation, and some leading photovoltaic enterprises have begun to expand their production on a large scale it is recommended to focus on the high-quality enterprises in the neighborhood that benefit from the distributed blue ocean, the optimization of the main chain pattern and the stable demand for auxiliary materials
[information technology] 4gb 1600MHZ DRAM and 64GB NAND flash memory prices fell on a weekly basis, while 32GB NAND flash memory prices remained unchanged february integrated power Road Import and export amount growth narrowed year-on-year, and the growth of trade deficit narrowed year-on-year; In February, the year-on-year decline in smartphone shipments expanded; The output of mobile communication base stations in February and the output of program-controlled switches in February have become positive year-on-year 12 the cumulative output of moonlight cable increased year-on-year; The number of 5g users increased month on month in February; From January to February, the cumulative year-on-year growth of Telecom main business income expanded; In December, the cumulative growth rate of mobile Internet access traffic narrowed.
[midstream manufacturing] this week, the prices of most cobalt products and lithium hydroxide went up, electrolyte, cathode materials and some lithium materials went down, and the prices of ternary materials remained unchanged; This week, the comprehensive price index of photovoltaic industry rose slightly , the price index of components and cells rose, and the price index of polysilicon and silicon wafer was flat compared with last week; The prices of silicon materials, components and silicon wafers in the photovoltaic industry chain fell this week 1-february Cecep Solar Energy Co.Ltd(000591) the cumulative year-on-year increase in battery production narrowed, with a larger increase than the same period in 2020 ; In February, the cumulative year-on-year increase of new ship orders turned negative, and the cumulative year-on-year increase of hand-held ship orders increased slightly 1-february: the output growth of metal cutting machine tools narrowed, and the cumulative output growth of special packaging equipment turned negative year-on-year ; Ccfbi goes up and CCFI, BDI and BDTI go down.
[consumer demand] fresh milk prices fell this week this week, the price of piglets went up, while the price of live pigs and pork went down; The breeding profit of self bred pigs and the breeding loss of purchased piglets expanded broiler fry prices down, chicken prices up . The vegetable price index went down , the settlement price of corn futures went down, and the settlement price of cotton futures went up. The number of films released this week and the number of films released this week.
[resource products] construction steel trading volume ten day average weekly decline. The prices of iron ore, billet and rebar rose main steel varieties, iron ore inventory at Chinese ports and Tangshan billet warehouse decreased; The blast furnace operating rate of Tangshan Steel Plant and the capacity utilization rate of Tangshan steel plant increased power coal futures settlement price, coke futures settlement price and coking coal futures settlement price rise Qinhuangdao Port coal inventory and Jingtang Port coking coal inventory decreased, and Tianjin Port Co.Ltd(600717) coke inventory was the same as last week cement price index fell. Brent international crude oil prices rose and inventories increased. Most of the futures prices of inorganic chemicals rose, and acetic acid rose significantly most of the futures prices of organic chemicals rose, methanol, PTA, xylene and asphalt increased significantly, while phthalic anhydride and octanol decreased significantly industrial metal prices mostly rose, aluminum, copper, zinc and other prices rose significantly, while nickel prices fell; Most inventories fell gold and silver spot prices rose
[financial real estate] money market net investment of 90 billion yuan, overnight Shibor interest rate down. A-share turnover and daily turnover decreased. The premium rate of land transaction is up, and the transaction area of commercial housing is down
[utilities] the ex factory price of natural gas in China rises and the settlement price of natural gas futures in the UK falls.
risk warning: the degree of industrial support is lower than expected, and the macroeconomic fluctuation
catalog
01 p align = “center” overview of core changes in industry prosperity this week
1. Focus this week: the off-season of photovoltaic sector is not light, and China’s installed capacity and export are booming
this week, the price index of photovoltaic industry continued to rise, and the price index of modules and cells rose; The price of silicon materials and components in the photovoltaic industry chain decreased.
As of March 21, the comprehensive price index of photovoltaic industry was 55.19, up 0.04% from March 14; The component price index was 38.79, up 0.05% from March 14; The battery price index was 28.83, up 0.14% from March 14. In the middle and early days of March, due to the lower than expected supply of silicon materials in China and the increase of production expansion of downstream silicon wafer enterprises, the operating rate remained high, resulting in a phased shortage of silicon materials and a large increase in prices. This week, the prices of silicon materials and components decreased slightly, and the cost pressure of the industrial chain was relieved.
the cost of kwh electricity is reduced, which promotes the benign expansion of demand. From January to February 2022, China’s PV installation demand is not weak in the off-season according to the data released by the national energy administration, the installed capacity of power generation in China from January to February was about 2.39 billion kw, an increase of 7.8% year-on-year. Among them, the installed capacity of Cecep Solar Energy Co.Ltd(000591) power generation is about 315.81 million KW, with a year-on-year increase of 22.7%, and the newly installed capacity is 10.86 million KW, with a year-on-year increase of 234%. The sharp growth of China’s photovoltaic market in the first two months is mainly due to the fact that on the one hand, it is related to the delay of photovoltaic project installation by state-owned enterprises in 2021, and on the other hand, due to the recent decline in module prices, there is strong market demand.
exports from January to February 2022, Cecep Solar Energy Co.Ltd(000591) battery exports totaled 7.322 billion yuan, an increase of 113.9% year-on-year. The rapid growth of Cecep Solar Energy Co.Ltd(000591) battery exports was related to India’s tariff increase in April and manufacturers’ preparation in advance; On the other hand, in the fourth quarter of 21, the prices of photovoltaic industry chain, batteries and components were high, and the overseas demand was delayed. After the component price decreased in 2022, the overseas market demand was driven.
relevant policies continue to catalyze, and 2022 will usher in the year of photovoltaic installation recently, the Ministry of housing and urban rural development issued a notice on the development plan of building energy conservation and green buildings in the 14th five year plan, pointing out that by 2025, the energy-saving transformation area of existing buildings will be more than 350 million square meters, the construction of ultra-low energy consumption and near zero energy consumption buildings will be more than 50 million square meters, the proportion of installed buildings in new urban buildings in that year will reach 30%, and the installed capacity of Cecep Solar Energy Co.Ltd(000591) photovoltaic buildings in China will be more than 50 million kilowatts. On March 22, the national development and Reform Commission and the National Energy Administration issued the “14th five year plan” on modern energy system, which put forward higher requirements for the development of China’s energy industry, including focusing on the development of wind power and photovoltaic, strengthening the adaptability of power grid to renewable energy and the development of energy storage technology, and continuing to emphasize the priority positioning of wind power and photovoltaic. Driven by the promotion of the whole county, the scenery base and the guaranteed grid connection, it is expected that the new photovoltaic installed capacity in China will reach 80-100gw in the whole year of 22, and the year-on-year growth rate is expected to reach 46% – 82%.
enterprises have carried out large-scale production expansion due to strong market demand Longi Green Energy Technology Co.Ltd(601012) recently announced to invest in the construction of 20GW annual single crystal silicon rod and chip project, 30GW high-efficiency single crystal cell project and 5GW high-efficiency photovoltaic module project Tbea Co.Ltd(600089) plans to invest in the 200000 ton polysilicon project in Xinjiang Changji Zhundong Industrial Park, with a total investment of about 17.6 billion yuan Zhuzhou Kibing Group Co.Ltd(601636) plans to invest 492 million yuan in China to build a roof distributed photovoltaic power station project. In addition, Ja Solar Technology Co.Ltd(002459) , Jolywood (Suzhou) Sunwatt Co.Ltd(300393) and other enterprises announced to sign major investment agreements or foreign investment announcements to expand the production capacity of silicon rods, silicon wafers, batteries, silicon materials and other links. On the one hand, it is conducive to the transformation of the clean energy industry and the expansion of the market. With the expansion of leading enterprises, the sector is expected to usher in a pattern of booming supply and demand.
overall, the off-season of photovoltaic sector in the first two months is not light, and China’s installed capacity and exports have increased significantly on the one hand, due to the delayed installation of state-owned enterprises for 21 years, on the other hand, the recent decline in component prices has further stimulated market demand; In terms of export, India’s tariff increase in April brought some demand forward. In the fourth quarter of 21, due to the high price of the photovoltaic industry chain, the demand for some overseas installed capacity was delayed. In addition, a series of policies, such as the 14th five year plan for modern energy system, have recently catalyzed that the year 22 is expected to usher in the year of photovoltaic installation, and some leading photovoltaic enterprises have begun to expand their production on a large scale it is recommended to focus on the high-quality enterprises in the neighborhood that benefit from the distributed blue ocean, the optimization of the main chain pattern and the stable demand for auxiliary materials
2. Overview of core changes in industry prosperity
02 p align = “center” information technology industry
1. Most memory prices fell
the price of 4gb 1600MHZ DRAM and 64GB NAND flash memory fell week on week, while the price of 32GB NAND flash memory remained unchanged as of March 22, the price of 4GB 1600MHZ DRAM decreased by 0.53% to $2.79 on a weekly basis; The price of 32GB NAND flash remains unchanged at US $2.14; The price of 64GB NAND flash decreased by 0.28% to US $3.97 on a weekly basis.
2. The year-on-year growth rate of IC import and export in February narrowed
in 2 months, the year-on-year growth of IC import and export value narrowed, and the year-on-year growth of trade deficit narrowed 2 in February, the value of IC exports in that month was US $11.005 billion, with a year-on-year increase of 24.09%, a decrease of 5.84 percentage points over the previous month, and an increase of 47.52% over the same period in 2020; From January to February, the cumulative export amount of integrated circuits increased by 27.70% year-on-year.
The value of IC imports in February was US $29.95 billion, up 13.36% year-on-year, down 10.87 percentage points from the previous month, up 38.98% from the same period in 2020, and up 19.20% year-on-year from January to February. The value of IC trade deficit in the current month was US $18.945 billion, with a year-on-year increase of 7.93%, and the growth rate decreased by 13.25 percentage points compared with the previous month.
3. In February, the year-on-year growth rate of LED chip Taiwan stocks narrowed, and the year-on-year growth rate of multilayer ceramic capacitor Taiwan stocks expanded
in 2, the year-on-year growth rate of LED chip platform stock revenue narrowed 2 in January, the revenue of LED chip Taiwan stocks was NT $2.527 billion, up 28.91% year-on-year, and the growth rate decreased by 5.39 percentage points compared with the previous month.
in 2 months, the revenue of Taiwan stocks of multilayer ceramic capacitor (MLCC) increased year-on-year 2 in February, the revenue of Taiwan stocks of multilayer ceramic capacitors (MLCC) was NT $14.21 billion, an increase of 20.29% year-on-year, an increase of 6.59 percentage points over the previous month.
4, the year-on-year decline in smartphone shipments in February expanded
in 2, the year-on-year decline in smartphone shipments expanded 2 in January, the value of smartphone shipments in that month was 14.549 million, with a year-on-year decrease of 31.80%, an increase of 13.6 percentage points over January; From January to February, the cumulative value of smartphone shipments was 46.915 million, with a cumulative year-on-year decrease of 23.00%, an increase of 4.8 percentage points over the previous month.
5, the cumulative year-on-year growth rate of mobile Internet access traffic from January to February narrowed
from 1-february, the cumulative year-on-year growth rate of mobile Internet access traffic narrowed 2 month: the average monthly traffic of mobile Internet access is 1251328mb; From January to February, the cumulative value of mobile Internet access traffic was 37.3 billion GB, with a cumulative year-on-year increase of 20.7%, 13.2 percentage points lower than that of the previous month.
6, the cumulative year-on-year growth of Telecom main business income from January to February expanded
from 1-february, the cumulative year-on-year growth of Telecom main business income expanded 1-february, the cumulative revenue of Telecom’s main business was 258.6 billion yuan, an increase of 9% year-on-year, an increase of 1 percentage point compared with that from January to December last year.
in 2 months, the year-on-year increase in the number of Internet data center business license projects narrowed 2 in January, the number of Internet data center business license projects was 6886, up 40.19% year-on-year, and the growth rate narrowed by 0.85 percentage points compared with the previous month.
the cumulative output of 7 and 1-2 moonlight cables increased year-on-year
1-2 the cumulative output of moonlight cable increased year-on-year. The cumulative output of 1-2 moonlight cable was 46.57 million core kilometers, with a cumulative year-on-year increase of 16.90%, an increase of 5.30 percentage points over the previous month, and still maintained a high growth rate.
8. The output of mobile communication base stations in February and the output of program-controlled switches in the current month have become regular year-on-year
in 2, the cumulative output of mobile communication base stations became positive year-on-year 2022: from January to February, the output of China’s mobile communication base stations was 1023000 channels, with a cumulative year-on-year increase of 52.90%, 92.30 percentage points higher than that in December 2021.
2 month, the accumulated output of SPC exchange became positive year on year 2022: from January to February, the cumulative output was 1.001 million lines, with a cumulative year-on-year increase of 28.70%, 30.70 percentage points higher than that in December 2021.
9 and February 5g users increased month on month
the number of 5g users increased month on month in 2 february China Telecom Corporation Limited(601728) 5g had 202 million users, up 3.10% month on month; The number of 5g users of China Mobile was 425 million, up 6.02% month on month.
03 p align = “center” midstream manufacturing
1. Most cobalt products and lithium hydroxide prices rose this week, while electrolyte, cathode materials and some lithium materials fell sharply
this week, the prices of most cobalt products and lithium hydroxide rose, electrolyte, cathode materials and some lithium materials fell, and the prices of ternary materials remained unchanged. In terms of electrolyte , as of March 23, the price of electrolyte solvent DMC decreased by 3.23% to 6000 yuan / ton on a weekly basis; The price of lithium hexafluorophosphate decreased by 6.36% on a weekly basis to 515000 yuan / ton in terms of cathode materials, as of March 23, the average spot price of electrolytic nickel ni9996 decreased by 6.51% to 211000 yuan / ton on a weekly basis; The average market price of electrolytic manganese decreased by 18.12% on a weekly basis to 22600 yuan / ton in terms of lithium raw materials, as of March 23, the price of electrolyte lithium manganate decreased by 12.59% to 75000 yuan / ton on a weekly basis; The price of lithium iron phosphate electrolyte decreased by 4.81% on a weekly basis to 105000 yuan / ton; The price of lithium hydroxide increased by 1.03% on a weekly basis to 491500 yuan / ton; The price of ternary materials was maintained at 370.95 yuan / kg cobalt products, as of March 23, the price of electrolytic cobalt rose by 3.85% to 567000 yuan / ton on a weekly basis; The price of cobalt powder rose 0.47% week on week to 648 yuan / kg; The price of cobalt oxide increased by 0.72% to 420 yuan / kg on a weekly basis; The price of Co3O4 rose 2.07% week on week to 443.5 yuan / kg.
2. The comprehensive price index of photovoltaic industry rose slightly
this week, the comprehensive price index of photovoltaic industry rose slightly, the price index of components and cells rose, and the price index of polysilicon and silicon wafer was flat compared with last week as of March 21, the comprehensive price index of photovoltaic industry was 55.19, up 0.04% from March 14; The component price index was 38.79, up 0.05% from March 14; The battery price index was 28.83, up 0.14% from March 14. The price index of silicon wafer was 53.82, unchanged from March 14; The polysilicon price index was 154.18, unchanged from March 14;
the prices of silicon materials, components and silicon wafers in the photovoltaic industry chain fell this week. In terms of silicon materials, as of March 21, the price of domestic polysilicon materials was $39.10/kg, down 0.27% from last week; The price of imported polysilicon was US $39.10/kg, down 0.27% from last week in terms of components, as of March 17, the price of crystalline silicon photovoltaic modules was US $0.21/w, down 0.48% from last week; The price of thin-film photovoltaic modules was US $0.23/watt, down 0.44% from last week in terms of silicon chips, as of March 16, the price of polysilicon chips was US $0.32/chip, down 0.63% from last week.
3 , January February Cecep Solar Energy Co.Ltd(000591) battery production cumulative year-on-year growth narrowed
1-february Cecep Solar Energy Co.Ltd(000591) battery production cumulative year-on-year growth narrowed, with a large increase compared with the same period in 2020.
1-february Cecep Solar Energy Co.Ltd(000591) battery output totaled 38.707 million KW, with a cumulative year-on-year increase of 26.40%, a decrease of 15.70 percentage points from January to December last year and an increase of 164.07% over the same period in 2020.
4, the cumulative year-on-year growth of new ship orders from January to February turned negative, and the year-on-year growth of handheld ship orders increased slightly
from 1-february, the cumulative year-on-year growth of orders for new ships turned negative, and the cumulative year-on-year growth of orders for handheld ships increased slightly From 1 to February, the cumulative value of new ship orders was 5.65 million dwt, with a cumulative year-on-year decrease of 17.03%, and the growth rate narrowed by 122.15 percentage points compared with the same period last year. In February, the cumulative value of orders for hand-held ships was 97.9 million dwt, with a cumulative year-on-year increase of 38.85%, an increase of 0.28 percentage points over the previous month.
5, the cumulative year-on-year increase in the output of metal cutting machine tools and special packaging equipment from January to February decreased
from 1-february, the cumulative year-on-year increase in the output of metal cutting machine tools decreased 1-february, the cumulative output of metal cutting machine tools was 89000, with a year-on-year increase of 7.2%, 22.0 percentage points lower than that of the previous month.
From January to February, the cumulative output of special packaging equipment turned negative year-on-year. From January to February, the cumulative output of special packaging equipment was 137400 units, a year-on-year decrease of 6.70%, which was 63.80 percentage points lower than that from January to December last year.
6, ccbif cycle to cycle ratio up, CCFI, BDI, BDTI cycle to cycle ratio down
this week, China’s export container freight rate index CCFI fell and China’s coastal bulk freight rate composite index ccbfi rose in terms of China’s shipping, as of March 18, China’s export container freight rate composite index CCFI fell 1.93% to 330110 points on a weekly basis; China’s coastal bulk freight rate composite index ccbfi rose 3.04% to 125416 points on a weekly basis this week, Borneo’s sea dry bulk index bdi and crude oil transportation index BDTI fell in terms of international shipping, as of March 22, the Baltic dry bulk index bdi was 2546.0 points, down 5.32% from last week; The crude oil transportation index BDTI was 1092.0 points, down 14.62% from last week.
04 p align = “center” consumer demand boom observation
1. The price of raw and fresh milk in the main production area decreased
the price of raw and fresh milk in main production areas decreased as of March 9, the price of fresh milk in the main producing areas was reported at 4.20 yuan / kg, down 0.24% on a weekly basis, down 1.87% from the same period last year.
2. Pork price and vegetable price index decreased
this week, the price of piglets went up, while the price of pigs and pork went down as of March 18, the average wholesale price of piglets was 14.40 yuan / kg, with an increase of 2.49% on a weekly basis; As of March 16, the national average price of pigs was 5.59 yuan / 500g, down 0.67% on a weekly basis; As of March 22, the average wholesale price of pork was 17.99 yuan / kg, down 0.44% on a weekly basis in terms of profits from pig breeding, losses from self breeding and outsourcing piglet breeding expanded this week as of March 18, the profit of self breeding pigs was -547.16 yuan / head, an increase of 29.31 yuan / head compared with the loss last week; The profit of outsourcing piglet breeding was -258.05 yuan / head, an increase of 64.55 yuan / head compared with the loss last week.
in terms of broiler breeding, the price of broiler fry is down and the price of chicken is up as of March 18, the average price of broiler seedlings in the main production areas was 0.76 yuan / feather, with a decrease of 31.53% on a weekly basis; As of March 22, the average retail price of chicken in 36 cities was 12.69 yuan / 500g, up 0.55% on a weekly basis.
vegetable price index goes down, cotton futures settlement price goes up, and corn futures settlement price goes down as of March 22, China’s Shouguang vegetable price index was 194.66, down 0.70% on a weekly basis; As of March 22, the settlement price of cotton futures was 130.04 cents / pound, up 9.65% on a weekly basis; The settlement price of corn was 753.00 cents / bushel, down 0.66% on a weekly basis.
3. Film box office revenue down
this week’s film box office revenue, the number of film viewers and the number of film shows decreased as of March 22, the box office revenue of this week’s films was 199 million yuan, down 10.36% on a weekly basis; The number of film viewers was 5.34 million, down 8.34% on a weekly basis; The film was released 1.5874 million times, down 27.02% on a weekly basis.
05 p align = “center” resource high frequency tracking
1. The trading volume of steel decreased and the price of iron ore increased
construction steel trading volume decreased on a weekly basis according to Mysteel data, on March 22, the national construction steel turnover of mainstream traders was 127300 tons; From the moving average of the past ten days, the ten day average of the national construction steel trading volume of mainstream traders was 158400 tons, down 6.59% on a weekly basis.
this week, the prices of iron ore, billet and rebar fell; Main steel varieties, iron ore inventory in Chinese ports and steel billet warehouse in Tangshan have declined; The blast furnace operation rate of Tangshan Steel Plant and the capacity utilization rate of Tangshan steel plant increased as of March 20, the average daily crude steel output of key enterprises was 2.0493 million tons / day, up 4.61% month on month.
in terms of price, as of March 23, the price of rebar was 496100 yuan / ton, up 1.18% on a weekly basis; As of March 21, the billet price was 475600 yuan / ton, up 1.89% on a weekly basis; As of March 22, the iron ore price index was 517.75, up 5.42% week on week. In terms of inventory, as of March 17, China’s port iron ore inventory was 154.98 million tons, down 1.38% on a weekly basis; As of March 17, the inventory of steel billets in Tangshan was 195500 tons, down 16.07% on a weekly basis; As of March 18, the inventory of main steel varieties decreased by 2.04% to 172324 million tons on a weekly basis. In terms of production capacity, as of March 18, the blast furnace operating rate of Tangshan steel plant was 56.35%, up 21.43 percentage points from last week; The capacity utilization rate of Tangshan steel plant was 57.74%, up 0.42 percentage points from last week.
2. Rising futures prices of thermal coal, coking coal and coke
price: the price of thermal coal in Qinhuangdao Port declined, and the price increase of Shanxi main coke coal depot in Jingtang Port was the same as last week; The settlement price of thermal coal futures, coke futures and coking coal futures rose as of March 22, the price of thermal coal in Qinhuangdao port was 154260 yuan / ton, with a decrease of 0.75% on a weekly basis; As of March 22, the price of Shanxi main coke coal depot in Jingtang Port increased by 335000 yuan / ton, the same as last week. As of March 23, the settlement price of coke futures closed at 351000 yuan / ton, up 0.67% on a weekly basis; The settlement price of coking coal futures closed at 292000 yuan / ton, up 2.26% on a weekly basis; The settlement price of thermal coal futures was 862.20 yuan / ton, up 6.00% on a weekly basis. As of March 15, the daily consumption of power plants in eight southern provinces was 1.87 million tons, up 5.53% month on month.
inventory: coal inventory in Qinhuangdao Port decreased this week, Tianjin Port Co.Ltd(600717) coke inventory was the same as last week, and coking coal inventory in Jingtang Port decreased as of March 23, the coal inventory of Qinhuangdao port was reported to be 5.045 million tons, with a decrease of 0.10% on a weekly basis; As of March 18, the inventory of coking coal warehouse in Jingtang Port reported 1.6 million tons, down 7.51% on a weekly basis Tianjin Port Co.Ltd(600717) coke inventory reported 250000 tons, unchanged from last week.
3. The national cement price index decreased and the cement price index in some regions increased
cement price: this week, the national cement price index went down, the cement price index in southwest and Central South China went up, the cement price index in Northeast China remained unchanged, and the cement price index in North China, northwest, Yangtze River and East China went down as of March 22, the national cement price index was 172.20 points, down 0.19% on a weekly basis; The cement price index of the Yangtze River region decreased by 0.05% to 175.30 points on a weekly basis; The cement price index in Northeast China is 157.40 points, and the week on month ratio remains unchanged; The cement price index in North China was 171.31 points, down 1.52% on a weekly basis; The weekly price index of cement in East China is 175.82%, with a downward ratio of 0.57%; The cement price index in Northwest China was 165.20 points, down 0.28% on a weekly basis; The cement price index in Southwest China rose 0.92% to 159.14 points on a weekly basis; The cement price index in central and southern China was 177.69 points, up 1.28% on a weekly basis.
4, Brent international crude oil prices rose, and most chemical prices rose
brent international crude oil prices rose and inventories increased as of March 22, 2022, the spot price of Brent crude oil rose 11.39% to USD 120.53/barrel on a weekly basis, and the price of WTI crude oil rose 13.30% to USD 109.27/barrel. In terms of supply, as of March 18, 2022, the weekly value of the number of drilling rigs in the United States was 663, unchanged from last week; As of March 11, 2022, the US commercial crude oil inventory increased by 1.06% to 415 million barrels on a weekly basis.
most futures prices of inorganic chemicals rose, while acetic acid rose significantly as of March 22, the average market price of titanium dioxide was 198000 yuan / ton compared with last week.. As of March 23, the settlement price of soda ash futures rose 3.47% to 256500 yuan / ton compared with last week. As of March 20, the average market price of acetic acid rose 13.58% to 472500 yuan / ton compared with last week; As of March 10, the national sulfuric acid price rose by 12.01% week on week to 617.6 yuan / ton.
organic chemicals futures prices mostly rose, methanol, PTA, xylene, asphalt, fuel oil and other prices rose significantly, while phthalic anhydride, octanol and other prices fell significantly as of March 23, the settlement price of methanol was 3071.0 yuan / ton, up 5.03% from last week; The settlement price of PVC futures rose by 1.24% to 8960.0 yuan / ton; The settlement price of fuel oil increased by 11.25% to 4046.0 yuan / ton; The settlement price of polypropylene was 8817.0 yuan / ton, up 1.59% from last week; The settlement price of diethylene glycol was 526875 yuan / ton, up 1.2% from last week; The settlement price of phthalic anhydride futures decreased by 3.14% to 8750.0 yuan / ton; The settlement price of octanol was 1246429 yuan / ton, down 4.07% from last week; The settlement price of DOP futures was 127100 yuan / ton, down 1.40% from last week; The settlement price of xylene increased by 3.53% to 8090.5.0 yuan / ton; The price of pure benzene rose by 2.44% to 839722 yuan / ton compared with last week; The settlement price of styrene futures was 932222 yuan / ton, up 1.02% from last week.
5. The price of industrial metals generally rose, and most inventories decreased
this week, most industrial metal prices rose, aluminum, copper, zinc and other prices rose significantly, while nickel prices fell significantly; Most inventories fell as of March 23, the price of tin increased by 1.99% over last week to 3451000 yuan / ton; The price of cobalt increased by 1.06% to 5710000 yuan / ton compared with last week; The price of lead is 154000 yuan / ton, with a weekly increase of 0.98%; Aluminum prices rose 5.24% week on week to 229100 yuan / ton; Copper price is 735400 yuan / ton, up 2.20% on a weekly basis; The price of zinc in the Yangtze nonferrous metals market was 256800 yuan / ton, up 2.43% on a weekly basis; The price of non-ferrous nickel in the Yangtze River decreased by 6.88% on a weekly basis to 2125000 yuan / ton.
inventory, as of March 22, LME tin inventory increased by 2.05% to 2245.0 tons on a weekly basis; LME lead inventory fell 0.13% to 386250 tons this week; LME zinc inventory decreased by 0.76% to 1433250 tons this week; LME aluminum inventory decreased by 6.25% to 6958250 tons compared with last week; LME copper inventory rose 3.32% to 801000 tons compared with last week; LME nickel inventory was 735780 tons, down 1.88% from last week.
the spot prices of gold and silver rose this week as of March 22, the spot price of gold in London was US $191525/oz, up 0.08% on a weekly basis; The spot price of silver in London closed at US $25.09/oz, up 1.83% from last week; COMEX gold futures closed at US $192150 per ounce, up 0.12% from last week; COMEX silver futures closed down 0.78% to US $24.90/oz.
06 p align = “center” financial real estate industry
1. Net money market investment of 90 billion yuan, overnight Shibor interest rate down
this week, the money market invested a net 90 billion yuan, and the overnight Shibor interest rate fell as of March 23, Shibor fell 4bps to 2.00% overnight, 4bps to 2.07% in one week and 18bps to 2.31% in two weeks. As of March 22, the one-day interbank offered rate fell 12bps to 2.02% compared with last week, the seven-day interbank offered rate fell 6bps to 2.31% compared with last week, and the 14 day interbank offered rate rose 19bps to 2.38% in the money market, as of March 18, last week, the money market put 140 billion yuan, the money market recovered 50 billion yuan, and the net money market put 90 billion yuan in terms of exchange rate, as of March 23, the central parity rate of the US dollar against the RMB was 6.3558, down 0.02 from last week.
6 months, the yield of financial products decreased as of March 20, the expected yield of one month’s financial products was flat at 1.88% compared with last week. The expected rate of return of six-month financial products is 2.10%, down 111bps from last week.
2, A-share turnover and daily turnover down
A-Shares changed hands and the daily turnover increased as of March 22, the turnover rate of A-Shares in Shanghai Stock Exchange was 0.87%, down 0.2986 percentage points from last week; The total daily turnover of Shanghai and Shenzhen stock markets fell, with a total daily turnover of 964316 billion yuan, down 14.37% from last week.
in terms of bond yield, the yield to maturity of six-month treasury bonds decreased compared with last week, and the yield to maturity of one-year / three-year treasury bonds increased compared with last week as of March 22, the yield to maturity of six-month treasury bonds fell 1bp to 2.01% from last week; The yield to maturity of one-year treasury bonds rose 5bp to 2.21% compared with last week, and the yield to maturity of three-year treasury bonds rose 11bp to 2.44% compared with last week. The term spread of 5-year bonds was flat at 0.44% compared with last week; The term spread of 10-year bonds decreased 2bp to 0.67% compared with last week; The credit spread of one-year AAA bonds decreased 2bp to 0.56% compared with last week; The credit spread of 10-year AAA rated bonds decreased 4bp to 0.96% compared with last week.
3. This week, the land transaction premium rate rose and the commercial housing transaction area fell
this week, the land transaction premium rate rose and the commercial housing transaction area fell as of March 20, the premium rate of land transactions in 100 large and medium-sized cities was 2.51%, up 0.88 percentage points from last week; The transaction area of commercial housing in 30 large and medium-sized cities was 1859100 square meters, down 9.31% from last week.
07 p align = “center” utilities
1. The ex factory price of natural gas in China rises
China’s natural gas ex factory price rises, while the UK natural gas futures settlement price falls as of March 22, the ex factory price of natural gas in China was 8202.0 yuan / ton, up 1.57% from last week; UK natural gas futures settled at 233.60p/som, down 14.87% from last week.
From the supply side, as of March 11, the available natural gas inventory of 48 states in the United States was 1440 billion cubic feet, down 5.20% from last week. As of March 18, the number of drilling rigs in the United States was 137, an increase of 2 over last week.
