Zhimeitong | International Highlights
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[The United States is studying the cancellation of some tariffs on China] The US Secretary of Commerce said in an interview with CNN on the 5th local time that President Biden asked his team to consider canceling some tariffs on China introduced by former President Trump. Curb current high inflation. When asked if the Biden administration was considering removing tariffs on China to ease inflationary pressures, she said: “We are considering. In fact, the president has asked us on his team to do analysis. So, we are working on a He does it and he's going to have to make a decision. " She thinks it might be wise to consider removing tariffs on products like household goods and bicycles. She also said the U.S. government has decided to keep some tariffs on steel and aluminum.
[Amazon’s 1:20 stock split plan takes effect today] On June 6, local time, Amazon’s 1:20 stock split plan came into effect, which means that the era of four-digit share prices for American technology giants is coming to an end. The retail giant's first stock split since 1999 sent Amazon shares soaring 5% to trade at $126.71. Industry analysts said that stock splits usually do not have much impact on the market value and valuation of listed companies, but will drive stock prices to rise in the short term. The reason is that after the stock split, the number of shares will increase proportionally, and the denomination of the shares will decrease, which will help lower the investment threshold and attract more small individual investors with little capital to enter the market.
[The United States makes the third anti-dumping sunset review final ruling on art canvas] The US Department of Commerce issued an announcement saying that it has made the third anti-dumping fast sunset review final ruling on Artist Canvas imported from China, ruling that if the anti-dumping in this case is cancelled The tax will cause the dumping of the products involved in China to continue or recur at a dumping rate of 264.09%. The U.S. Harmonized Tariff Numbers for the products in question are 5901.90.20.00, 5901.90.40.00, 5903.90.2500, 5903.90.2000, 5903.90.1000, 5907.00.8090, 5907.00.8010, and 5907.00.6000.
[U.S. Treasury bonds fell 5 years, 10-year yield exceeded 3%] Partly affected by the issuance of corporate bonds and the rise in the stock market, U.S. Treasury bonds were sold, and the 10-year and 30-year Treasury bond yields rose by more than 10 basis points. And the 10-year Treasury yield topped 3% for the first time since mid-May. The entire yield curve rose by at least 7 basis points, with the 10-year yield up 10.3 basis points to 3.036%, its highest level since May 11. The yield was 2.70% on May 26, and this year's high was 3.20% on May 9. Bond investors are also preparing for new issuance of 10-year and 30-year Treasury bonds, ahead of the release of crucial May inflation data on the 9th local time.
[Biden declares a state of emergency due to the risk of insufficient U.S. power capacity] U.S. President Biden declared a state of emergency because the U.S. power capacity may not be enough to meet consumer demand, and will send certain solar cells and modules from Cambodia, Malaysia, Thailand and Vietnam. The import duty-free period was extended for two years. It is understood that Biden has also authorized the use of the Defense Production Act to help domestic solar cell manufacturers compete with Asian businesses.
[White House: The United States is expected to triple its solar power generation capacity by 2024] The White House said the United States is expected to triple its solar power generation capacity by 2024. Since Biden took office, U.S. domestic solar power capacity has grown from 7.5 GW to 15 GW and is on track to reach 22.5 GW by 2024, the statement said.
[The United States will exempt four countries in Southeast Asia from import tariffs on photovoltaic modules for 24 months] On June 6, local time, the White House officially issued a statement announcing that the United States would grant 24-month tariff exemptions for solar modules purchased from Cambodia, Malaysia, Thailand and Vietnam . Meanwhile, the White House announced that Biden authorized the use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies.
IPOs in the U.S. and Europe have dropped 90 percent this year. Initial public offerings (IPOs) in the U.S. and Europe have fallen 90 percent this year, as inflation and rising interest rates have forced companies to shelve listing plans. In the first five months of 2022, just 157 companies raised a combined $17.9 billion, compared with 628 companies that raised $192 billion in the same period last year, according to Dealogic.
[U.S. Gulf Coast fuel exports surge] U.S. Gulf Coast gasoline and diesel export loadings have reached 1.94 million bpd so far this month, according to Vortexa. At this rate, exports in June will be the highest since statistics began in 2015. Among them, the export volume of diesel led the way, reaching 1.12 million barrels per day. It is reported that most of the fuel exported from the US Gulf region is shipped to Latin America.
[U.S. gives the green light to Venezuelan oil shipments to Europe] Two European energy companies may start shipping Venezuelan oil to Europe as soon as next month, resuming the “petroleum” that was suspended two years ago due to the U.S. government’s increased sanctions on Venezuela, according to multiple people familiar with the matter “Debt Repayment” project in order to fill the supply gap caused by the Western embargo on Russian crude oil. U.S. President Joseph Biden hopes the move will help reduce Europe’s reliance on Russian oil, while prompting Venezuelan President Nicolas Maduro to restart political talks with the opposition, the report quoted people familiar with the matter as saying.
[World Bank warns: For every 1% increase in food prices, nearly 10 million people will fall into poverty] The World Bank recently estimated that for every 1% increase in global food prices, nearly 10 million people will fall into living on less than $1.90 a day (approximately 12.65 yuan) in "extreme poverty". According to the report, the conflict between Russia and Ukraine led to rising food prices, and the World Bank sounded the alarm on the expansion of the crisis, saying that "the poorer the population, the higher the proportion of food in household consumption, will be impacted by price increases."
[Starbucks: New CEO only considers external candidates planned to be determined in the fall] Starbucks interim CEO Howard Schultz (Howard Schultz) said that the company only considers external candidates to be the next CEO. It is reported that Starbucks recently held talks with several potential CEO candidates, with the goal of identifying a new CEO in the fall.
Schultz returned to Starbucks on April 4 this year, temporarily succeeding Kevin Johnson as CEO, his third time at the helm. Schultz plans to remain interim CEO until the first quarter of 2023, after which he will remain on the company's board.
[Morgan Stanley: Overweight rating on Tesla, price target of $1,300] Tesla CEO Elon Musk said in an internal email that he has a "very bad feeling" about the economy and plans to lay off workers 10% and stop global recruiting activities. Given his well-informed insights into the global economy, Musk's disclosures are undoubtedly highly credible. But Morgan Stanley analyst Adam Jonas and his team believe that even so, Tesla's stock price still has room to rise, because layoffs and a halt to hiring plans will improve Tesla's redundant employee structure and increase the productivity of each employee. improvement.
[iOS 16 adds security checks to protect users' personal safety] iOS 16 adds a new security check function to protect users' personal safety. In some cases, sharing passwords and locations can compromise personal safety. Security Check allows users to quickly view and reset access to the system using the emergency reset button, stop sharing location and reset system privacy permissions for all apps.
[EU publishes disclosure of the final review of the safeguard measures case for imported steel products] The WTO Safeguards Committee released the notice on safeguard measures submitted to it by the EU delegation on May 26, 2022. The EU announced that it will make a ruling on the review of the safeguard measures for imported steel products (Certain Steel Products) before July 1. The notice announced the initial adjustment of the number of quotas and the way of apportionment, and the annual increase rate of the quotas will be increased from 3% to 4%. . The review decision will take effect on July 1, 2022 and will be valid until June 30, 2024. The case involved 26 categories of steel products.
[European rating agency ScopeRatings: EU faces greater inflationary pressures due to Russian oil ban] ScopeRatings said in a research report that the partial oil embargo imposed by the EU on Russia may bring greater impact to household and business budgets Inflationary pressure. Analysts Levon Kameryan and Eiko Sievert said that as investment in the energy sector increases to reduce reliance on Russia's fossil fuels, it will also put more pressure on public finances. Before the EU announced an oil embargo, the Russian-Ukrainian conflict and its inflationary impact had already dented the region's growth prospects this year. The agency lowered its forecast for economic growth in the EU's central and eastern European region this year to 2%-3% from a forecast of 4.6% in December.
[To sanction Gazprom, Germany will spend an extra 5 billion euros every year] On June 5, local time, the German newspaper Welt quoted industry insiders as saying that the sanctions on Gazprom Germany and its subsidiaries will lead to Germany paying taxes People and natural gas consumers spend an additional 5 billion euros (about 35.693 billion yuan) on natural gas every year.
[Mexico launches the first anti-dumping sunset review investigation on Chinese coated steel sheets] The Ministry of Economy of Mexico issued an announcement in the Official Gazette, in response to the application of Mexican companies Ternium México, SA de CV and Tenigal, S. de RL de CV, decided to The first anti-dumping sunset review investigation was initiated on or imported from mainland China and Taiwan, China (Spanish: aceros planos recubiertos). The anti-dumping measures determined in the announcement continue to be effective. The dumping investigation period in this case is from April 1, 2021 to March 31, 2022, and the damage investigation period is from April 1, 2017 to March 31, 2022. The TIGIE tax numbers of the products involved are 7210.30.02, 7210.41.01, 7210.41.99, 7210.49.99, 7210.61.01, 7210.70.02, 7212.20.03, 7212.30.03, 7212.40.04, 7225.91.01, 7225.9 , 9802.00.01, 9802.00.02, 9802.00.03, 9802.00.04, 9802.00.06, 9802.00.07, 9802.00.10, 9802.00.13, 9802.00.15, and 9802.00.19.
[Russian e-commerce sales increased by 50% from January to April this year] On June 6, local time, the Russian E-commerce Association announced that from January to April this year, the sales of Russian e-commerce increased by 50% compared with the same period last year. %, reaching 1.5 trillion rubles, accounting for 11.8% of the total retail sales in Russia. According to reports, 96.7% of Russian e-commerce sales are in the domestic market, and the main products sold are electronic products, electrical appliances, furniture, clothing, shoes and hats. Cross-border e-commerce sales fell by nearly 3 percent to 11.7 billion rubles.
[Russian natural gas transmission through the "North Stream" natural gas pipeline will drop in the short term] Due to the routine technical maintenance of the submarine transportation pipeline, during the period from June 3 to 17, the "North Stream" natural gas pipeline will be transported through the "North Stream" natural gas pipeline. Russian gas deliveries to the German Nel and Opal entry points will decline. According to the data of the "North Stream" natural gas pipeline operator, the planned gas transmission volume through the pipeline on the 6th was 6.5 million cubic meters per hour, while the gas transmission volume on the 2nd was 7 million cubic meters per hour.
[British Prime Minister Boris Johnson will face a no-confidence vote] On June 6, local time, British Prime Minister Boris Johnson will face a no-confidence vote from the Conservative Party. It has been confirmed that at least 54 Conservative MPs have written to the chairman of the "1922 Committee" asking for a vote of no confidence in the prime minister.
On May 19, local time, the British police announced the end of the investigation into the violation of the epidemic prevention regulations by the British Prime Minister's Office personnel. The investigation involved 8 parties that violated the regulations held and attended by the British Prime Minister's Office and some government staff during the epidemic prevention and control period. A growing number of Conservative MPs have reportedly said they have lost confidence in Prime Minister Boris Johnson over the scandal over illegal gatherings.
[Some businesses in the UK pilot a four-day work week without cutting staff pay] Many businesses across the UK are adopting a four-day work week without cutting staff pay after the pandemic caused managers to rethink the way they work. Around 70 UK businesses with more than 3,300 employees will start a six-month trial this week to test whether the four-day workweek can be adopted without a corresponding loss in productivity.
[Goldman Sachs: Australia's high household debt will not prevent the RBA from raising interest rates] According to Goldman Sachs forecast, although Australia's high household debt poses certain risks to economic activity in the medium term, this will not prevent the RBA from raising the official cash rate to 2.6 within this year. %. Economists have often cited high household debt as a reason the RBA doesn't need to raise interest rates significantly to stem a spike in inflation. But large financial buffers, including rising household savings, high rates of homeownership and seven years of tighter regulation of banks' easy mortgage lending, have made balance sheets of households and banks resilient. Therefore, household debt status does not prevent the RBA from raising interest rates by 215 basis points in this round of interest rate hike cycle.
[India's gold imports surged several times in May as gold prices pulled back ahead of key festivals] India imported 101 tonnes of gold in May, up 677% year-on-year to the highest level in a year, a government source said. Imports surged to $5.83 billion from $678 million in the same period a year earlier. The reason is that a pullback in gold prices has boosted retail jewellery purchases ahead of the key holiday and wedding season. Rising imports in India, the world's second-biggest gold consumer, could support benchmark gold prices, but a surge in gold prices could increase India's trade deficit and weigh on a weak rupee. In May, local gold futures fell to Rs 49,572 per 10 grams, the lowest in nearly three months. Traders said India's June gold imports may fall below 60 tonnes as demand has begun to slump due to a recent rebound in gold prices.
[The Japan Institute of Transportation Research proposes to cancel the single-day entry limit] The Japan Institute of Transportation Research issued a proposal on the 6th to cancel the single-day entry limit of 20,000 people as a countermeasure for the new crown epidemic prevention border port. It is pointed out that this move has limited effect of epidemic prevention, "will lead to the stagnation of exchanges with foreign countries and accelerate the trend away from Japan", and believes that it is "far from the G7" approach, which has more relaxed measures. The proposal will be made to the government in the near future.
Zhimeitong | Logistics Highlights
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[O NE’s capacity ranking drops, adding 10 newbuildings ] According to data released by Alphaliner, as of June 6, 2022, the total number of container ships in operation worldwide reached 6,378, an increase of 18 from a month ago, with a total global capacity of 25,676,473TEU. An increase of 77,629 TEU, and the total tonnage of ships in operation was 307,613,443 deadweight tons.
In terms of the ranking of the top 20 liner companies, Evergreen Shipping has increased its capacity, surpassing Ocean Networking Shipping (ONE), ranking 6th in the world in terms of capacity, and ONE ranking 7th. In addition, UniFeeder and X-Press Feeders Group swapped the rankings, ranking 16th and 17th respectively. The rankings of other companies remain unchanged.
[Vietnam: Year-to-date cargo throughput of various airports has increased by 30.6% year-on-year] The Vietnam Aviation Administration stated that from the beginning of this year, the passenger and cargo throughput of various airports has soared compared with the same period in 2021. The total passenger throughput of various airports reached 40.7 million, a sharp increase compared with the same period in 2021. In terms of freight, the cargo throughput has reached approximately 765,000 tons since the beginning of the year, a year-on-year increase of 30.6%. It is expected that in 2022, the cargo throughput will reach about 1.5 million tons, a year-on-year increase of 5%.
[Lianyungang China-Europe Railway Express has exceeded 4,500 trains, leading the country in transit volume] On June 5, with a long whistle, the China-Europe Railway Express loaded with auto parts, home building materials and other goods slowly departed from Lianyungang China-Kazakhstan Logistics Cooperation Base drive out. Since 2015, the number of Lianyungang China-Europe freight trains has exceeded 4,500, with a cumulative transportation volume of 399,000 TEUs, among which the transit volume leads the country.
[The Shanghai port freight chain has fully resumed the "retaliatory" shipment peak] "It used to be ships waiting for goods, but now they are waiting for ships." On June 6, a number of industry professionals interviewed said that Shanghai port has ushered in "Retaliation" peak shipments. It is reported that at present, the daily container throughput of Shanghai Port has risen to more than 95% of the normal level, and the cargo volume of sea and air ports has continued to rise. Because of the shortage of transportation capacity, the freight rate has also risen. "Basically one price per class, the freight rate for near-ocean routes increases by $50 to $100, and some European and American routes even increase by thousands of dollars." A person from the world's top ten shipping companies told reporters.
Zhimeitong | Domestic Highlights
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[Zhejiang Taizhou Damaiyu Port opened the RCEP national export direct flight route for the first time] Zhejiang Taizhou Yuhuan City Damaiyu Port opened the RCEP national export direct flight route for the first time. Southeast Asian countries such as Vietnam are one of the main areas for Taizhou's foreign trade exports. Taizhou currently has 1,053 foreign trade enterprises exporting to Vietnam. From January to April this year, the goods exported by these enterprises to Vietnam are mainly mechanical and electrical products, consumer goods, plastic products, agricultural products, etc. The value of goods reached 1.522 billion yuan. The Taizhou Damaiyu Port-Vietnam new route was opened this time, and the first shipment of exported products was valued at US$2 million. In the past, the products of Taizhou foreign trade enterprises exported to Vietnam had to be transported to Ningbo Port by waterway or land. The opening of the RCEP national export direct flight route has saved Taizhou enterprises a lot of time and logistics costs, and will alleviate Taizhou and its problems to a certain extent. Export logistics pressure of foreign trade enterprises in surrounding areas. He Guohua, general manager of Taizhou Dayang Logistics Co., Ltd., said: "Compared with exporting at Ningbo Port before, we can save 3-4 days now, and each standard 20-foot container can save 1,000 yuan, which is of great help to Taizhou's foreign trade enterprises. ."
[Chip and shipping prices have fallen and LED lighting product exports have soared] The survey found that the current domestic LED lighting export situation is changing from the first quarter's decline and returning to a growth trend. Since April, the LED lighting export industry has gradually recovered. According to customs data, the national export value of lamps, lighting devices and their parts in April was 23.46 billion yuan, a year-on-year increase of 7.81% compared with 21.76 billion yuan in April 2021. Industry insiders told reporters that LED lighting products will use light-emitting chips and driver chips. The prices of these two types of chips have begun to fall this year. In addition, the shipping price that was high last year is also falling all the way. Cost reduction and efficiency increase provide favorable conditions.
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