June 2 Trade Risk Alert
Release time:
2020-06-02 16:38
Source:
The new coronavirus will make the U. S.GDP$15.7 trillion over ten years.The new coronavirus will cost the U.S. economy nearly $8 trillion, according to an estimate released by the Congressional Budget Office on June 1. Although all the relief funds are used to offset the impact of the epidemic, the new crown epidemic is likely to reduce economic activity by about $7.9 trillion over the next 10 years. The reduction in nominal GDP in 2020-2030 is expected to be $15.7 trillion, or 5.3 per cent. (NetEase Finance)
The U.S. FDA revoked the license of about 60 Chinese manufacturers to export N95 masks.On May 7, the U.S. Food and Drug Administration (FDA) revoked the license of about 60 Chinese manufacturers to sell N95 masks in the U.S. on the grounds that tests found that the particle filtration efficiency of the masks produced by these manufacturers did not meet the minimum 95% standard to provide adequate protection against the new coronavirus. On May 22, the FDA's latest update of the number of permits for Chinese mask manufacturers was 16. (https://www.fda.gov/media/136663/download). (Sina Finance)
Rio de Janeiro, Brazil, will continue to maintain the restraining order for at least another week.On the morning of June 1, the decision of Rio de Janeiro, Brazil, to gradually liberalize commercial activities from June 1 was postponed. On the morning of the same day, Rio Governor Vizel and Rio Mayor Crivella will hold a meeting to study the timetable and details of opening up commercial activities. During this period, the current restrictions and isolation measures will be maintained for at least one week. (CCTV news client)
5Euro-zone consumer confidence picked up in January.Reuters website May 20 news. The latest forecast data released by the European Commission on Wednesday showed that the euro zone consumer confidence index in May rose 3.2 points from April, from -22.0 to -18.8. A Reuters poll of economists had expected the index to fall to -24.0. The consumer confidence index for the European Union as a whole rose 2.5 points in May to -19.5. (Ministry of Commerce website)
5A number of economic indicators in Slovakia fell in the month.According to data from the Slovak Bureau of Statistics, the Slovak Economic Confidence Index fell to 72.2 in May, a decrease of 11.6 points from the previous month and a year-on-year decrease of 23 points. The confidence index of industry and retail increased from the previous month, but it was still negative like the confidence index of construction and service industries. In addition, the consumer confidence index in May was -38.1, with a month on month increase of 7.4 points and a year-on-year decrease of 34.7 points. Consumers are more optimistic about household financial situation and overall economic situation, but they are still pessimistic about household savings and employment prospects. (Ministry of Commerce website)
South Korea exports fell 23.7 percent in May from a year earlier.According to Yonhap News Agency, data released by the South Korea Ministry of Industry, Trade and Resources on the 1st showed that exports fell 23.7 percent year-on-year to $34.86 billion billion in May due to the impact of the new coronavirus pneumonia epidemic. Taking into account the number of start days, the average daily export value fell by 18.4. South Korea exports fell by more than 20 per cent for the second month in a row, including reduced global demand under the epidemic, but the decline was narrower than in April (25.1 per cent). In terms of export items, exports of automobiles decreased by 54.1 per cent, with significant declines in auto parts (-66.7 per cent), fibers (-43.5 per cent) and petroleum products (-69.9 per cent). On the contrary, semiconductor exports turned from negative to positive after 18 months, with total and average daily exports increasing by 7.1 per cent and 14.5 per cent, respectively, while exports of non-contact products such as diagnostic kits (59.4 per cent) and computers (82.7 per cent) performed well. Over the same period, imports decreased by 21.1 per cent year-on-year to $34.42 billion billion. This was mainly due to the decline in international oil prices leading to a decrease in imports of crude oil, coal and natural gas (68.4 per cent, 36.1 per cent and 9.1 per cent). Imports of semiconductor manufacturing equipment increased by 167.8. The trade balance reappeared in surplus after a month, at $0.44 billion. (People's Network)
Sri Lanka's merchandise exports hit record low in April.Sri Lanka's Export Promotion Board (EDB) reported April exports, with the country's merchandise export revenue falling nearly 64% to $0.2774 billion in April 2020 from $0.77257 billion in April 2019, a record low. According to the monthly export statistics of the customs, in April, the export revenue of the garment industry fell to 64.9 million US dollars from 0.3362 billion US dollars in the same period last year, a sharp drop of 82% year-on-year. Tea export revenue was 78.4 million billion US dollars, down 20.8 per cent year on year. Other sectors with notable declines included: coconut products (-35.2 per cent), rubber products (-53 per cent), food and beverages (-44 per cent), spices (-24 per cent), electronics and electronic components (-63 per cent), petroleum products (-63 per cent), seafood (-72 per cent) and base metal products (-49 per cent). (Ministry of Commerce website)
China Baowu and the global iron ore giant to achieve cross-border settlement of RMB.Baosteel Co., Ltd., a subsidiary of China Baowu Iron and Steel Group Co., Ltd., and Rio Tinto Group of Australia recently completed the first RMB cross-border settlement using blockchain technology, with a total amount of more than 0.1 billion yuan. This is another new progress after Baosteel completed the first RMB cross-border settlement with Brazil's Vale and Australia's BHP Billiton in January and April this year. So far, China Baowu and the world's three major iron ore suppliers have achieved cross-border settlement of iron ore transactions in RMB. It is understood that China Baowu has a huge import volume of iron ore, and actively promoting the partial use of RMB payment and settlement in iron ore transactions is not only the company's operational needs, but also in line with the development trend of RMB internationalization. (Economic Daily)
Interactive Message
If you are interested in our products, please leave your email and we will contact you as soon as possible. Thank you very much.
Other dynamics
The company was founded in 1997, currently 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting. The company's process equipment strength, Japan's new east automatic casting line 6, commercial vehicle brake disc automatic casting line 2. There are 56 processing lines -6 full-automatic one-word processing lines and 30 robot processing lines. Packaging cleaning line 5, spraying line 3.
Since the beginning of this year, the price of raw materials has risen sharply, sea freight has soared, and the difficulty of finding a box of shipping space has seriously plagued manufacturing companies. The current power curtailment has made companies even worse. Take our company as an example. Since the power limit in early September, the company's production capacity has dropped by about 50% on average every day. Exports have decreased by 0.02 billion yuan. The performance rate of orders in hand is about 50%. New orders were reduced by 10%. These data are the impact of the current power rationing on enterprises. If the power rationing situation is not alleviated, the impact on enterprises in the fourth quarter will be more serious.
Recently, Yunnan, Jiangsu, Qinghai, Ningxia, Guangxi, Guangdong, Sichuan, Henan, Chongqing, Inner Mongolia, Henan and other places have begun to carry out energy control measures to limit energy consumption.
The total power generation in 021 is not low. In the first half of the year, China's total power generation was 3871.7 billion kWh, twice that of the United States. At the same time, China's foreign trade has grown extremely fast this year. According to data recently released by the General Administration of Customs, in August, the total value of my country's foreign trade imports and exports was 3.43 trillion billion yuan, a year-on-year increase of 18.9 percent, achieving positive year-on-year growth for 15 consecutive months, further showing a steady and solid trend. In the first eight months, the total value of China's foreign trade imports and exports was 24.78 trillion billion yuan, up 23.7 percent year-on-year and 22.8 percent over the same period in 2019.
The impact of the neo-coronary pneumonia epidemic on global supply chains continues, with high international freight rates, container shortages and terminal congestion still unabated, and labor shortages exacerbating the dilemma. The outbreak of the new coronary pneumonia epidemic in 2020, due to the obstruction of international freight, soaring transportation costs, international trade in goods greatly hindered, triggering a supply chain crisis in many countries (regions), since 2021, the new coronary pneumonia virus variant strain raging, so that the supply chain has not yet fully recovered.
Statistics from the China Association of Automobile Manufacturers show that in the first seven months of 2021, China's cumulative automobile exports reached 1.002 million, an increase of 1.2 times year-on-year, but the month-on-month growth was only 9.8 percent, showing a shrinking trend. Moreover, commercial vehicle exports fell 11.6 percent month-on-month, of which new energy commercial vehicle exports fell 57.8 percent month-on-month. It is said that the main reason for the decline in automobile exports is the poor shipping channels.
Product recommend
At present, 4000 a variety of models of automobile brake discs, brake drums with an annual output of 10 million pieces. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
At present, 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
Address: Zhuqiao Town, Laizhou City, Shandong Province
Mobile phone official website