Recently, driven by the tight supply in the upstream and the rebound in demand in the downstream, the prosperity of the chemical industry sector has increased, superimposed with high global energy inflation, and the prices of most categories have increased significantly. In addition, the photovoltaic industry chain maintained a high outlook this week, and the Shenzhen Agricultural Products Group Co.Ltd(000061) prosperity of pigs, chicken, vegetables and other parts continued to improve. With the positive signals of epidemic control, it is recommended to pay attention to the opportunities for the chemical industry to enter the products with high price elasticity in the demand cycle, new materials related to emerging industries and consumer sectors to recover.
core views
[focus this week] many fields of chemical products increased significantly this week. The phosphorus chemical industry chain benefited from the accelerated release of new energy vehicle output and the support of downstream phosphate fertilizer industry demand, and phosphate rock, yellow phosphorus and monoammonium phosphate all increased significantly liquid ammonia industry chain due to the decrease of ammonia discharge in many places, the increase of unit maintenance and urea orders drive the price rise of related products; In addition, agrochemical benefited from the rise in global food prices and high demand for agrochemicals, the prices of phosphate fertilizer, glyphosate and glyphosate were booming considering the positive signal of epidemic control, the subsequent demand side recovery is relatively optimistic, and the prosperity of the chemical sector is expected to continue. It is recommended that the leading enterprises in the whole industry chain have the advantages of large price flexibility and concern about the whole industry chain of new materials
[information technology] 4gb 1600MHZ DRAM memory fell on a weekly basis, while the prices of 32GB NAND flash memory and 64GB NAND flash memory remained unchanged In 4, smart phones turned negative year-on-year, and the year-on-year decline in IC output expanded; From January to April, the cumulative year-on-year growth rate of industrial added value of TMT manufacturing industry narrowed
[midstream manufacturing] the prices of lithium fluorophosphate, cathode materials, some lithium materials and cobalt products fell this Saturday , while the prices of DMC and some lithium materials remained unchanged; This week, the comprehensive price index of photovoltaic industry went up, the price index of components, cells and polysilicon went up, and the price index of silicon wafer was the same as that of last week april industrial Siasun Robot&Automation Co.Ltd(300024) output changed from positive to negative year-on-year; From January to April, the cumulative year-on-year increase of charging piles expanded ; This week, China's export container freight rate index CCFI and China's coastal bulk cargo freight rate composite index ccbfi rose; This week, Borneo's sea dry bulk index bdi went up and crude oil transportation index BDTI went down.
[consumer demand] fresh milk prices fell this week this week, the prices of piglets and live pigs went up and the price of pork went down; The profit loss of self breeding pigs increased, and the loss of outsourcing piglets increased broiler fry prices fell, while chicken prices rose vegetable price index rises , corn futures settlement price rises, and cotton futures settlement price rises. This week's film box office revenue and the number of film viewers decreased, and the number of film shows decreased.
[resource products] the ten day average trading volume of construction steel decreased on a weekly basis. The price of iron ore, billet and rebar decreased ; The inventory of main steel varieties and iron ore in Chinese ports decreased, and the inventory of steel billets in Tangshan increased; The blast furnace operating rate of Tangshan steel plant is up, and the capacity utilization rate of Tangshan steel plant is up power coal and coke futures settlement prices rise, while coking coal futures settlement prices fall Qinhuangdao Port coal inventory decreased, Jingtang Port coking coal inventory decreased, and Tianjin Port Co.Ltd(600717) coke inventory increased cement and glass price index fell. Brent international crude oil prices rose; Futures prices of inorganic chemicals rose and fell by , and acetic acid rose relatively organic chemicals futures prices mostly rose , among which methanol, PTA, pure benzene, toluene, styrene, phthalic anhydride, natural rubber, fuel oil and asphalt increased significantly, while polypropylene and PVC prices fell most industrial metal prices fell this week , cobalt, tin and lead prices fell sharply, and inventories rose and fell. Spot prices of gold and silver fell this week.
[financial real estate] the money market has a net investment of 40 billion yuan, and the overnight Shibor interest rate is the same as last week a-share turnover decreased and daily turnover decreased this week, the premium rate of land transaction and the transaction area of commercial housing increased. From January to April, the year-on-year decline in the completed area of houses, sales volume of commercial houses, sales area of commercial houses, newly started area of houses and the cumulative value of development fund sources expanded, and the cumulative completed amount of real estate development investment turned negative year-on-year
[utilities] the ex factory price of natural gas in China decreased and the settlement price of natural gas futures in the UK increased 1-april: the cumulative year-on-year growth rate of China's power generation narrowed , including the year-on-year growth rate of hydropower, wind power and Cecep Solar Energy Co.Ltd(000591) power generation, while the year-on-year growth rate of thermal power and nuclear power generation narrowed 4 in April, China's electricity consumption turned negative year-on-year , in which the growth of electricity consumption in the primary industry narrowed, and the growth of electricity consumption in the secondary and tertiary industries turned negative.
risk warning: the degree of industrial support is lower than expected and the macro-economy fluctuates
catalog
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overview of core changes in industry prosperity this week
1. Focus this week: some chemicals maintain high scenery
this week, driven by the tight supply in the upstream and the rebound in demand in the downstream, the prosperity of the chemical industry sector increased, superimposed with high global energy inflation, and the prices of most categories increased significantly Acetic acid in inorganic chemicals increased by 10% this week. In addition, fuel oil, PTA, asphalt and toluene increased by 7.99%, 6.9%, 4.12% and 3.41% respectively.
Specifically, phosphorus chemical industry chain, liquid ammonia industry chain and agricultural chemical industry chain all have high prospects.
phosphorus chemical industry chain:
Phosphate rock is the upstream raw material of phosphorus chemical industry, yellow phosphorus is the midstream product, and monoammonium phosphate and diammonium phosphate are the downstream products. Phosphate rock and yellow phosphorus are in the price upward channel. Due to the rise of raw material prices, the prices of monoammonium phosphate and diammonium phosphate continue to be strong. On the one hand, the output of new energy vehicles is accelerated, which promotes the demand for phosphate rock and yellow phosphorus in the upstream of phosphorus chemical industry. On the other hand, the boom of traditional phosphate fertilizer industry is upward, which supports the demand for phosphate ore. In addition, in recent years, the output of phosphate rock has continued to decline, the backward production capacity has accelerated to be cleared, and the supply may tighten in the future. From 2017 to 2020, China's phosphate rock output decreased from 1231324 million tons to 88.933 million tons, a decrease of 27.8%. Subsequently, due to the tight supply of goods in the field and the increase of downstream demand, the price of the industrial chain is expected to continue to operate at a high level.
liquid ammonia industry chain:
liquid ammonia industrial chain takes liquefied natural gas as the upstream raw material and liquid ammonia as the intermediate product. The downstream mainly includes chemical products such as ammonium nitrate, formic acid, DMF, melamine, urea and nitric acid recently, the market of liquid ammonia has continued to rise. Since May, the price of liquid ammonia has increased by 8.6%, the price of urea has increased by 6.9%, the price of nitric acid has increased by 6.0%, and the price of melamine has increased by 13.5%; Shandong, Hebei, Shanxi and other local industrial chain prices have increased to a certain extent.
supply level , ammonia emission in many places in China decreased significantly compared with that before the festival. Some enterprises in the north have too many maintenance or load reduction devices, and the supply is relatively limited cost side , affected by policy regulation, the price of upstream coal is basically maintained at the early level, and the profits of downstream liquid ammonia enterprises are repaired. In addition, due to the recent abundant market supply of natural gas and the falling price, the cost of downstream enterprises in the industrial chain has been further alleviated on the demand side , the downstream urea and nitrogen fertilizer increased in varying degrees. After the holiday, the orders of urea plants increased significantly and the inventory of manufacturers decreased. This is mainly due to the strong agricultural demand in the downstream. In addition, the printing and bid opening of urea this week, and the export expectation supports the further rise of urea price.
In the follow-up, with the resumption of the units, the supply shortage may be alleviated, but the downstream demand is still good, and the sector is expected to maintain a high outlook.
agro chemical industry chain:
at present, global grain prices are rising continuously, global demand for agrochemicals is high, and China's chemical fertilizer continues to strengthen supported by fundamentals; The demand for downstream phosphate fertilizer, glyphosate and glufosinate is strong Since 5 month, the price of glufosinate has increased by 18.2% and the price of glyphosate has increased by 0.2%. In addition, the price of acetic acid has increased significantly recently. Since May, the reference price of acetic acid market has increased by 41.8%, which is mainly due to the fact that some factories are on the verge of loss before the festival and the continuous production reduction of manufacturers, resulting in a significant decline in supply. Under this influence, the price of ethyl acetate increased by 7.6% over the same period. On the one hand, the current operating rate is low, less than 60%, and the main large factories in Shandong are overhauled, resulting in limited supply; On the other hand, the purchase intention between demand side dealers and downstream factories remains at a reasonable level, so most manufacturers generally raise the ex factory price.
considering the positive signal of epidemic control, the subsequent demand side recovery is optimistic, and the prosperity of the chemical sector is expected to continue Shanghai is a key city in China's semiconductor and automobile high-end manufacturing industry. Most large chemical enterprises, especially those in the Yangtze River Delta region, were greatly impacted by the epidemic. With the promotion of resumption of work and production, new material enterprises, semiconductors, pharmaceuticals and new energy upstream materials in Jiangsu, Zhejiang and Shanghai may all benefit. It is recommended to pay attention to products with large price elasticity entering the demand cycle, new material fields related to emerging industries and leading enterprises with advantages of the whole industrial chain.
2. Overview of core changes in industry prosperity
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information technology industry
1. The price of memory fell
4gb 1600MHZ DRAM memory fell week on week, while the prices of 32GB NAND flash memory and 64GB NAND flash memory remained unchanged as of May 17, the price of 4GB 1600MHZ DRAM decreased by 0.86% to $2.42 on a weekly basis; The price of 32GB NAND flash remains unchanged at US $2.16; The price of 64GB NAND flash remains unchanged at $3.99.
in 2 and April, the output of smart phones turned negative year-on-year, and the output of integrated circuits decreased more year-on-year
4 month Smartphone Production turned negative year on year according to the data of the National Bureau of statistics, the value of China's Smartphone Production in April was 96 million units, down 3.80% year-on-year (the previous value was 3.1%), from positive to negative year-on-year.
in 4 months, the output of integrated circuits decreased more year-on-year according to the data of the National Bureau of statistics, China's IC output in April was 25.9 billion pieces, down 12.10% year-on-year in the same month, an increase of 7.0 percentage points compared with March.
3. The cumulative increase of manufacturing value in March
from 1 to April, the cumulative year-on-year growth rate of industrial added value of TMT manufacturing industry narrowed 1-april: the industrial added value of computer, communication and other electronic equipment manufacturing increased by 10.7% year-on-year, 2.0 percentage points lower than that from January to March; The cumulative completion of fixed asset investment in computer, communication and other electronic equipment manufacturing industry was 22.1% year-on-year, 5.7 percentage points lower than that from January to March
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midstream manufacturing
1. The prices of lithium fluorophosphate, cathode materials, cobalt products and some lithium materials fell this Saturday
this Saturday, the prices of lithium fluorophosphate, cathode materials, some lithium materials and cobalt products fell, while DMC and lithium hydroxide remained unchanged. In terms of electrolyte, as of May 18, the price of electrolyte solvent DMC remained unchanged at 5400 yuan / ton; The price of lithium hexafluorophosphate decreased by 7.58% to 305000 yuan / ton in terms of cathode materials, as of May 18, the average spot price of electrolytic nickel ni9996 decreased by 0.73% to 216600 yuan / ton on a weekly basis; The average price of electrolytic manganese Market decreased by 1.22% week on week to 16200 yuan / ton.
in terms of lithium raw materials, as of May 18, the price of lithium hydroxide remained unchanged at 467500 yuan / ton; The price of electrolyte lithium manganate decreased by 0.07% on a weekly basis to 67800 yuan / ton; The price of lithium iron phosphate electrolyte remained unchanged at 8.75 yuan / kg; The price of ternary materials decreased by 0.29% to 348.5 yuan / kg on a weekly basis cobalt products, as of May 18, the price of cobalt powder decreased by 2.82% to 602.5 yuan / kg on a weekly basis; The price of cobalt oxide decreased by 4.62% on a weekly basis to 372.0 yuan / kg; The price of Co3O4 decreased by 4.80% on a weekly basis to 377.0 yuan / kg; The price of electrolytic cobalt decreased by 3.86% on a weekly basis to 498000 yuan / ton.
2. The comprehensive price index of photovoltaic industry rises
this week, the comprehensive price index of photovoltaic industry went up, the price index of modules, cells and polysilicon went up, and the price index of silicon wafer was the same as last week as of May 16, the comprehensive price index of photovoltaic industry was 56.47, up 0.43% from last week; The component price index was 38.97, up 0.46% from last week; The battery price index was 29.50, up 0.41% from last week. The price index of silicon wafer was 54.93, unchanged from last week; Polysilicon price index was 160.99, up 0.78% from last week.
this week, the prices of silicon materials and silicon wafers in the photovoltaic industry chain fell, and the price of components was the same as last week. In terms of silicon materials, as of May 16, the price of domestic polysilicon materials was $38.31/kg, down 0.67% from last week; The price of imported polysilicon was US $38.31/kg, down 0.67% from last week in terms of components, as of May 12, the price of crystalline silicon photovoltaic modules was US $0.21/watt, the same as last week; The price of thin-film photovoltaic modules was US $0.23/watt, the same as last week in terms of silicon wafers, as of May 11, the price of polysilicon wafers was US $0.30/wafer, down 1.30% from last week.
3 and April industrial Siasun Robot&Automation Co.Ltd(300024) output changed from positive to negative in the same month
April industrial Siasun Robot&Automation Co.Ltd(300024) output changed from positive to negative year-on-year April industrial Siasun Robot&Automation Co.Ltd(300024) month output was 32535 sets / set, down 8.40% year-on-year in the same month, an increase from positive to negative compared with March. From January to April 2022, the industrial Siasun Robot&Automation Co.Ltd(300024) cumulative output was 125439 sets / set, with a year-on-year decrease of 1.40%, and the growth rate turned negative from 10.2% from January to March.
4, the cumulative year-on-year increase of charging piles from January to April expanded
from 1 to April, the cumulative year-on-year increase of charging piles expanded From 1 to April, the cumulative number of charging piles reached 1332200, with a cumulative year-on-year increase of 53.44%, an increase of 8.62 percentage points over the previous value, an increase of 143.65% over the same period in 2020.
5, CCFI, ccbfi, BDI cycle to cycle ratio up, BDTI cycle to cycle ratio down
this week, China's export container freight rate index CCFI and China's coastal bulk cargo freight rate composite index ccbfi rose in terms of China's shipping, as of May 13, China's export container freight rate composite index CCFI rose 1.02% to 308803 points on a weekly basis; China's coastal bulk freight composite index ccbfi rose 3.16% to 111920 points on a weekly basis this week, Borneo's sea dry bulk index bdi rose and crude oil transportation index BDTI fell in terms of international shipping, as of May 18, the Baltic dry bulk index bdi was 3095.0 points, up 5.31% from last week; The crude oil transportation index BDTI was 1110.0 points, down 4.88% from last week.
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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 May 11, the price of raw and fresh milk in the main producing areas was reported to be 4.16 yuan / kg, down 0.24% on a weekly basis, down 2.35% from the same period last year.
2. Pork prices fell and vegetable price index rose
this week, the prices of piglets and live pigs went up and pork prices went down as of May 18, the average price of piglets in 22 provinces and cities was 32.79 yuan / kg, up 4.96% on a weekly basis; The average price of live pigs is 15.20 yuan / kg, with a weekly increase of 1.40%; The average wholesale price of pork was 21.58 yuan / kg, down 1.37% on a weekly basis in terms of the profit of pig breeding, the loss of self breeding pig breeding and outsourcing piglet breeding expanded this week as of May 9, the profit of self breeding pigs was -236.78 yuan / head, down 1.81 yuan / head from last week; The profit of outsourcing piglet breeding was -33.11 yuan / head, down 5.39 yuan / head from last week.
in terms of broiler breeding, the price of broiler fry is down and the price of chicken is up as of May 13, the average price of broiler seedlings in the main production areas was 2.59 yuan / feather, with a decrease of 13.67% on a weekly basis; As of May 17, the average retail price of chicken in 36 cities was 12.79 yuan / 500g, up 0.16% on a weekly basis.
vegetable price index rose week on week, cotton futures settlement price rose, and corn futures settlement price rose as of May 18, China's Shouguang vegetable price index was 122.18, up 3.39% on a weekly basis; As of May 18, the settlement price of cotton futures was 148.46 cents / pound, up 3.86% on a weekly basis; The settlement price of corn futures was 800.75 cents / bushel, up 3.29% week on week.
3. Film box office revenue down
this week's film box office revenue and the number of people watching the film decreased, and the number of film shows decreased as of May 17, the box office revenue of this week's films was 114 million yuan, down 49.6% on a weekly basis; The number of film viewers was 3.37 million, down 49.1% on a weekly basis; The film was released 1.5759 million times, down 11.0% on a weekly basis.
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High frequency product tracking
1. The trading volume of steel decreased and the price of iron ore decreased
construction steel trading volume decreased on a weekly basis according to Mysteel data, on May 17, the national trading volume of construction steel of mainstream traders was 143000 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 153800 tons, down 6.87% on a weekly basis.
this week, the prices of iron ore, billet and rebar fell; The inventory of main steel varieties and iron ore in Chinese ports decreased, and the inventory of steel billets in Tangshan increased; The blast furnace operating rate of Tangshan steel plant is up, and the capacity utilization rate of Tangshan steel plant is up output, as of May 10, the average daily crude steel output of key enterprises was 2. 2305300 tons / day, down 2.26% month on month, and the estimated daily crude steel output of China was 3.0734 million tons / day, down 1.72% month on month in terms of price, as of May 18, the price of rebar was 489600 yuan / ton, with a decrease of 1.79% on a weekly basis; As of May 17, the billet price was 459600 yuan / ton, down 1.03% on a weekly basis; As of May 17, the iron ore price index was 464.25, down 0.34% on a weekly basis inventory, as of May 13, the inventory of iron ore in Chinese ports was 139.97 million tons, down 2.30% on a weekly basis; As of May 12, the inventory of steel billets in Tangshan was 232000 tons, up 16.82% on a weekly basis; As of May 13, the inventory of main steel varieties decreased by 2.29% to 155415 million tons on a weekly basis in terms of production capacity, as of May 13, the blast furnace operating rate of Tangshan steel plant was 57.14%, with an increase of 3.17% on a weekly basis; The capacity utilization rate of Tangshan steel plant was 74.34%, up 1.76 percentage points from last week.
2. The settlement price of thermal coal and coke futures goes up, and the settlement price of coking coal futures goes down
price: the price of thermal coal in Qinhuangdao Port goes up, and the price of Shanxi main coking coal depot in Jingtang Port goes down; The settlement price of thermal coal and coke futures rose, while the settlement price of coking coal futures fell as of May 16, the price of thermal coal in Qinhuangdao port was 120500 yuan / ton, up 0.56% from last week; As of May 17, the price of Shanxi main coke coal depot in Jingtang Port increased by 305000 yuan / ton, down 8.96% from last week. As of May 18, the settlement price of coke futures closed at 340700 yuan / ton, up 0.16% on a weekly basis; The settlement price of coking coal futures closed at 265150 yuan / ton, down 0.15% on a weekly basis; The settlement price of thermal coal futures was 841.80 yuan / ton, up 1.01% on a weekly basis. As of May 13, the daily consumption of power plants in eight southern provinces was 1.589 million tons, up 3.32% month on month.
inventory: coking coal inventory in Qinhuangdao port and Jingtang Port decreased this week, while Tianjin Port Co.Ltd(600717) coke inventory increased as of May 18, the coal inventory of Qinhuangdao Port reported 4.7 million tons, down 1.05% on a weekly basis; As of May 13, the inventory of coking coal warehouse in Jingtang Port was reported to be 810000 tons, with a decrease of 6.90% on a weekly basis Tianjin Port Co.Ltd(600717) coke inventory reported 340000 tons, up 6.25% on a weekly basis.
3. The national cement price index goes down and the cement price index in some regions goes up
cement price: this week, the national cement price index went down, the cement price index in North China, Northwest China, Yangtze River, East China, Central South and other regions went down, and the cement price index in Northeast and southwest regions went up as of May 17, the national cement price index was 164.30 points, down 1.23% on a weekly basis; The cement price index of the Yangtze River region decreased by 1.55% to 159.30 points on a weekly basis; The cement price index in Northeast China was 157.90 points, up 1.69% on a weekly basis; The cement price index in North China was 175.44 points, down 1.31% on a weekly basis; The cement price index in East China was 161.41 points, down 1.85% on a weekly basis; The cement price index in Northwest China was 167.63 points, down 0.32% on a weekly basis; The cement price index in Southwest China rose 0.62% to 156.63 points on a weekly basis; The cement price index in central and southern China was 167.63 points, down 1.68% on a weekly basis. As of May 18, the market price of float glass was 1940.0 yuan / ton, down 2.02% on a weekly basis.
4, Brent international crude oil prices rose, and most organic chemicals prices rose
brent international crude oil prices fell as of May 17, 2022, the spot price of Brent crude oil rose by 12.05% to USD 116.60/barrel on a weekly basis, and the price of WTI crude oil rose by 12.67% to USD 112.40/barrel in terms of supply, as of May 13, 2022, the weekly value of the number of drilling rigs in the United States was 714, an increase of 1.28% over last week; As of May 6, 2022, US commercial crude oil inventories rose 2.04% to 424 million barrels on a weekly basis.
inorganic chemicals futures prices rose and fell, and acetic acid rose significantly as of May 18, the average market price of titanium dioxide decreased by 0.25% to 196500 yuan / ton compared with last week. As of May 18, the settlement price of soda ash futures rose 0.50% to 283400 yuan / ton compared with last week. As of May 15, the average market price of acetic acid rose by 10.32% to 4675.0 yuan / ton compared with last week; As of May 10, the national sulfuric acid price decreased by 1.02% on a weekly basis to 919.10 yuan / ton.
organic chemicals futures prices mostly rose, among which methanol, PTA, pure benzene, toluene, styrene, phthalic anhydride, natural rubber, fuel oil and asphalt increased significantly, while polypropylene and PVC prices fell as of May 18, the settlement price of methanol was 2726.0 yuan / ton, up 2.02% from last week; The settlement price of PVC futures decreased by 0.51% to 8544.0 yuan / ton; The settlement price of fuel oil increased by 7.99% to 4296.0 yuan / ton; The settlement price of polypropylene was 8615.0 yuan / ton, down 0.09% from last week; The settlement price of diethylene glycol was 496714 yuan / ton, up 1.89% from last week; The settlement price of phthalic anhydride futures rose by 2.22% to 826667 yuan / ton; The settlement price of octanol was 1249167 yuan / ton, up 0.40% from last week; The settlement price of DOP futures was 121300 yuan / ton, up 0.66% from last week; The settlement price of xylene rose by 1.30% to 7575.0 yuan / ton; The price of pure benzene increased by 2.79% over last week to 919500 yuan / ton; The settlement price of styrene futures was 1016778 yuan / ton, up 3.52% from last week.
5. Most industrial metal prices fell, and inventories rose and fell
this week, most industrial metal prices fell, while cobalt, tin and lead prices fell significantly; Inventories were mixed as of May 18, the price of tin decreased by 6.62% compared with last week to 2890000 yuan / ton; Cobalt prices fell by 4.85% to 5100000 yuan / ton compared with last week; The price of lead was 148750 yuan / ton, down 2.62% on a weekly basis; Aluminum prices rose 1.44% week on week to 204000 yuan / ton; The price of copper is 720.08 yuan / week; The price of zinc in the Yangtze nonferrous metals market was 257700 yuan / ton, up 0.16% on a weekly basis; The price of non-ferrous nickel in the Yangtze River decreased by 1.74% on a weekly basis to 2147000 yuan / ton.
inventory: copper, tin and lead inventory increased, while aluminum, zinc and nickel inventory decreased as of May 17, the weekly ratio of LME tin warehouse increased by 1.13% to 3120.0 tons; LME lead inventory rose 0.79% to 384750 tons compared with last week; LME zinc inventory fell 3.56% to 861250 tons this week; LME aluminum inventory decreased by 5.87% to 5273750 tons compared with last week; LME copper inventory rose by 5.21% to 1765750 tons compared with last week; LME nickel inventory was 729480 tons, down 0.24% from last week.
the spot prices of gold and silver fell this week as of May 17, the spot price of gold in London was US $182500/oz, down 1.74% on a weekly basis; The spot price of silver in London closed at US $21.78/oz, down 0.39% from last week; COMEX gold futures closed at $181360 an ounce, down 1.28% from last week; COMEX silver futures closed up 1.93% to $21.64 an ounce.
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finance and real estate industry
1, money market net investment 40 billion yuan, overnight Shibor interest rate unchanged from last week
this week's net money market investment was 40 billion yuan, and the overnight Shibor interest rate was the same as last week as of May 18, Shibor remained at 1.33% overnight. Shibor fell 6bps to 1.65% in one week and 1bps to 1.65% in two weeks. As of May 17, the one-day interbank offered rate rose 3bps to 1.41% compared with last week, the seven-day interbank offered rate fell 12bps to 1.87% compared with last week, and the 14 day interbank offered rate fell 21bps to 1.74% in terms of money market, as of May 13, last week, 60 billion yuan was put into the money market, 20 billion yuan was withdrawn from the money market, and 40 billion yuan was put into the money market in terms of exchange rate, as of May 18, the central parity rate of the US dollar against the RMB was 6.7421, slightly higher than that of last week.
1 month / 6-month financial product yield was flat compared with last week as of May 15, the expected yield of one month's financial products was flat at 1.88% compared with last week. The expected yield of six-month financial products was 2.10%, unchanged from last week.
2, A-share turnover and daily turnover down
a-share turnover and daily turnover decreased as of May 17, the turnover rate of A-Shares in Shanghai Stock Exchange was 0.79%, down 0.0892 percentage points from last week; The total daily turnover of Shanghai and Shenzhen stock markets fell, with a total daily turnover of 758962 billion yuan, down 6.56% from last week.
in terms of bond yield, the yield to maturity of 6-month / 1-year / 3-year treasury bonds decreased compared with last week as of May 17, the yield to maturity of six-month treasury bonds fell 6BP to 1.79% from last week; The yield to maturity of one-year treasury bonds decreased by 4bp to 1.99% compared with last week, and the yield to maturity of three-year treasury bonds decreased by 5bp to 2.36% compared with last week. The term interest margin of five-year bonds rose 8bp to 0.63% compared with last week; The term spread of 10-year bonds rose 9bp to 0.87% compared with last week; The credit spread of one-year AAA bonds decreased 1bp to 0.39% compared with last week; The credit spread of 10-year AAA rated bonds decreased 4bp to 0.86% compared with last week.
3, land transaction premium rate and commercial housing transaction area increased significantly this week
land transaction premium rate and commercial housing transaction area this week line as of May 15, the premium rate of land transactions in 100 large and medium-sized cities was 2.72%, up 1.76 percentage points from last week; As of May 15, the transaction area of commercial housing in 30 large and medium-sized cities was 2250800 square meters, up 64.12% from last week.
4, the year-on-year decline in the completed area of houses, sales volume of commercial houses, sales area of commercial houses, newly started area of houses and accumulated value of development fund sources from January to April increased
from 1 to April, the year-on-year decline in the completed area of houses, the sales volume of commercial houses, the sales area of commercial houses, the newly started area of houses and the cumulative value of development capital sources expanded, and the cumulative completed amount of real estate development investment turned negative year-on-year From 1 to April, the cumulative value of completed housing area was 200 million square meters, down 11.90% year-on-year, an increase of 0.4 percentage points compared with the previous value; From January to April, the cumulative value of new housing construction area was 397 million square meters, with a cumulative year-on-year decline of 26.3%, an increase of 8.8 percentage points compared with the decline from January to March.
From January to April, the cumulative value of commercial housing sales was 3.78 trillion yuan, down 29.50% year-on-year, with a decline of 6.8 percentage points; From January to April, the cumulative value of commercial housing sales area was 398 million square meters, with a cumulative year-on-year decrease of 20.9% and an increase of 7.1 percentage points; From January to April, the cumulative value of real estate development investment was 3.92 trillion yuan, with a cumulative year-on-year decline of 2.7%, and the growth rate changed from positive to negative.
In April, the proportion of real estate development in the completion of fixed asset investment was 18.08%. From January to April, the total cumulative value of real estate development capital sources was 4.85 trillion yuan, a cumulative year-on-year decline of 23.60%, an increase of 4 percentage points over the previous value.
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utilities
1, the ex factory price of natural gas in China is down, and the price of natural gas futures in the UK is up
China's natural gas ex factory price is down, and the UK natural gas futures settlement price is up.
as of May 16, the ex factory price of natural gas in China was 746900 yuan / ton, down 3.94% from last week; As of May 18, the settlement price of UK natural gas futures closed at 185.23p/som, up 27.07% from last week.
From the supply side, as of May 12, the available natural gas inventory of 48 states in the United States was 1643 billion cubic feet, up 4.85% from last week. As of May 14, the number of drilling rigs in the United States was 149, an increase of 3 over last week.
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From 1 to April, the cumulative year-on-year growth of China's power generation narrowed, including the year-on-year growth of hydropower, wind power and Cecep Solar Energy Co.Ltd(000591) power generation, and the year-on-year growth of thermal power and nuclear power generation narrowed From 1 to April, China's cumulative power generation was 260922 billion kwh, up 1.3% year-on-year, 1.8 percentage points lower than the previous value; Among them, the cumulative output of thermal power was 1863.5 billion kwh, down 1.8% year-on-year; The cumulative output of hydropower is 313 billion kwh, up 14.3% year-on-year; The cumulative output of wind power was 226.5 billion kwh, up 6.8% year-on-year Cecep Solar Energy Co.Ltd(000591) output totaled 68.3 billion kwh, up 14.8% year-on-year; Nuclear power output totaled 131.6 billion kwh, up 5.40% year-on-year.
in 4 months, China's electricity consumption turned negative year-on-year, in which the growth rate of electricity consumption in the primary industry narrowed, and the growth rate of electricity consumption in the secondary and tertiary industries turned negative 4 in April, China's total electricity consumption was 636.2 billion kwh, a year-on-year decrease of 1.3% and a decrease of 4.8 percentage points from the previous value; Among them, the power consumption of the primary industry in the current month was 7.8 billion kwh, up 5.5% year-on-year; The electricity consumption of the secondary industry in the current month was 446.8 billion kwh, with a cumulative year-on-year decrease of 1.4%; The electricity consumption of the tertiary industry in the month was 97.9 billion kwh, with a cumulative year-on-year decline of 6.8%.
