June 9 Trade Risk Alert
Release time:
2020-06-09 11:22
Source:
The US economy has been in recession since February.The National Economic Research Institute said the U.S. economy began to end its long expansion in February and fell into a deep recession. According to official U.S. data, overall U.S. retail sales fell 8.7 percent in March from the previous month, the highest drop since 1992. In addition, its factory output in March also hit the largest decline since 1946. According to the latest report of the US Congressional Budget Office, due to reduced revenue and large-scale stimulus fiscal expenditures, the US fiscal budget deficit in May was as high as $424 billion, almost double the same period last year. (Sina Finance)
Canada deregulated alcohol.In response to the economic downturn caused by the epidemic, Canada has proposed an amendment to Bill 61 that would specifically allow businesses to adopt new practices in the sale and service of alcohol, such as the possibility of purchasing alcohol and food remotely from restaurants through an intermediary service platform. Quebec has allowed takeaway liquor prices to be different from those for in-house drinks, allowing in-house guests to drink only without meals, lowering the price of seasonal liquor permits, and proposing less regulation of advertising. (Xinmin Network)
Brazilian financial markets cut GDP forecast for this year.On June 8,BrazilThe "Focus Survey" report released by the Central Bank showed that the Brazilian financial market lowered its expectations for this year's GDP and inflation for the 17th time this year. Analysts lowered Brazil's GDP forecast for this year to -6.48 from -6.25 per cent previously, leaving the forecast for next year unchanged at 3.5 per cent. In addition, Brazil's inflation forecast for this year was lowered to 1.53 per cent from 1.55 per cent. (The first financial network)
The European Central Bank forecasts a 8.7 per cent fall in eurozone GDP in 2020.Christine Lagarde, President of the European Central Bank (BCE), announced that the BCE predicts that euro zone GDP will fall by 8.7 percent in 2020, 5.2 percent in 2021 and 3.3 percent in 2022 due to the health crisis. (Ministry of Commerce website)
Switzerland will open its borders to Europe on June 15.The Swiss Federal Government website announced on June 5 that the Swiss Police Ministry of Justice plans to lift Switzerland's entry restrictions on the European Union, the European Free Trade Association (EFTA), and the United Kingdom on June 15. (Ministry of Commerce website)
The Swedish Government supports the maritime industry in its fight against the epidemic.Swedish Infrastructure Minister Thomas Jenerut said the government will provide support to shipping companies affected by the crisis, hoping to make the maritime industry retain jobs and strengthen competitiveness, the Swedish newspaper Industry Today reported recently. (Ministry of Commerce website)
Romania intends to provide assistance to companies affected by the outbreak.Luo Economy Minister Popescu recently announced that it plans to use EU funds to provide free funding funds to small and medium-sized enterprises affected by the new coronavirus epidemic, with a total amount of 2.2 billion euros, of which 1.2 billion euros will be allocated through the Ministry of Regional Development and 1 billion euros will be allocated through the Ministry of Economy, mainly to provide free financial assistance or working capital support to the hotel industry, catering industry, transportation industry and enterprises engaged in celebration activities. The relevant evaluation work will start in July this year, and the computer will automatically score and select the beneficiary enterprises. (Ministry of Commerce website)
Research by the South Korea Development Research Institute shows that the impact of the epidemic on the industry is spreading across the board and the South Korea economy is shrinking at an accelerated pace.Yonhap News Agency reported on June 7 that the South Korea Development Research Institute (KDI) said in its June issue of KDI Economic Trends published on June 7 that demand shrank due to the epidemic, and industry-wide production fell 5.0 percent month-on-month in April, the largest decline since the global financial crisis in 2009. The industry as a whole was sluggish, resulting in a 476000 year-on-year decrease in employment in April. The cyclical change value of the peer index (97.3) and the cyclical change value of the leading index (99.1) continued to decline in April. However, due to the effects of policies such as emergency disaster support, consumer psychology has recovered. (Yonhap)
The Organization of Petroleum Exporting Countries and its allies reached a consensus that the oil union's production cuts would be extended until the end of July."Lianhe Zaobao" reported on June 8 that the Organization of Petroleum Exporting Countries (OPEC) and its allies reached a consensus to extend the current crude oil production reduction to the end of July. The cuts, equivalent to nearly 10 per cent of global supply, have already doubled oil prices over the past two months. According to the agreement reached in April, the Organization of Petroleum Exporting Countries and non-oil allies such as Russia (collectively referred to as OPEC + Group) cut production by a record 9.7 million barrels per day in May and June to support oil prices that plummeted due to the pandemic, and then reduced the scale of production cuts to 7.7 million barrels per day from July to December. (Lianhe Zaobao)
Saudi oil exports plunged $11 billion in the first quarter.According to Reuters, official data on June 7 showed that the value of Saudi Arabia's oil exports in the first quarter fell 21.9 percent year-on-year to $40 billion, equivalent to a drop of about $11 billion. (Interface News)
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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.
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