July 13 Trade Risk Alert
Release time:
2020-07-13 17:59
Source:
The rebound in the U.S. outbreak affects the economic recovery, which may shrink by 20% in the third quarter.The latest employment data released by the US Department of Labor shows that the non-agricultural sector of the US economy added 4.8 million jobs in June, exceeding market expectations. U.S. public opinion believes that the economy has shown some signs of recovery recently, but due to the rebound of the epidemic in many states, the severe epidemic situation is causing fundamental damage to the job market and dragging down the overall recovery of the U.S. economy. (International Finance)
The Consumer Technology Association of America announced the closure of the Asian Consumer Electronics Show.7On the 13th, the American Consumer Technology Association (CTA) has officially announced the closure of the Asian Consumer Electronics Show (CES Asia). The Asia Consumer Electronics Show was originally scheduled to be held from June 10 to 12, but was not held due to the epidemic. (Source: TechWeb)
The head of the Department of Treaty Law of the Ministry of Commerce made a statement on the termination of the WTO dispute proceedings against the EU anti-dumping "surrogate country" practice.Recently, some foreign media and some domestic self-media reported that the WTO dispute proceedings against the EU's anti-dumping "surrogate country" practice were terminated on June 15, claiming that China had lost the WTO dispute with the EU, and tried to interpret the case as that the WTO did not recognize China's "market economy status". The head of the Treaty Law Department of the Ministry of Commerce made a statement upon inquiry, believing that such reports were inconsistent with the facts, there are obvious legal errors. First, after the termination of the litigation procedure in this case, the WTO did not have any effective ruling, and there was no saying of winning or losing; second, this case has nothing to do with whether China is a "market economy country" and whether it has "market economy status". Third, the current global neo-crown epidemic continues to spread, unilateralism and trade protectionism are becoming more and more worrying, and the multilateral trading system has been seriously affected, the primary task of WTO members is to strengthen unity, jointly safeguard the authority and effectiveness of the multilateral trading system, and work together to restore the normal operation of the dispute settlement mechanism as soon as possible. (Ministry of Commerce website)
Italy suspends flights to and from 13 countries.Xinhua News Agency, Rome, July 10, according to Italian media reports on the 10th, according to the ban issued by Italian Health Minister Speranza on the evening of the 9th, Italy will suspend from now on Armenia, Bahrain, Bangladesh, Brazil, Bosnia and Herzegovina, Chile, and North Macedonia., Moldova, Oman, Panama, Peru, Kuwait and Dominica and other 13 countries, and prohibit passengers who have visited these countries within 14 days from entering the country. (Xinhua)
The World Bank downgraded Sri Lanka to a lower-middle-income country.Sri Lanka's "Daily Financial Times" reported on July 3 that as Sri Lanka's per capita national income in 2020 fell from US $4060 in 2019 to US $4020, the World Bank downgraded Sri Lanka from a middle-and high-income country to a low-and middle-income country. (Ministry of Commerce website)
The exhibition is down 40% this year.The Tehran Times reported on July 11 that the number of exhibitions in the current Iraqi calendar year has fallen by 40 percent due to the outbreak of the coronavirus, despite complying with all health guidelines and obtaining the necessary approvals from the Ministry of Health and the Anti-Epidemic Headquarters, according to Inzadeh, managing director of IIEC (International Exhibition Company). The outbreak led to the cancellation of all exhibitions in the first quarter of the Iraqi calendar (March 20 to June 20). (Ministry of Commerce website)
Iran bans the export of eggs.Iran's "Financial Tribune" reported on July 7. Recently, the Ministry of Industry, Mining and Trade issued a decree banning egg exports from July 4 to curb rising egg prices in Iran. According to the report, after the outbreak of the new crown outbreak, Iran's domestic consumption of poultry and eggs increased, leading to supply shortages and price increases. (Ministry of Commerce website)
Central Bank of South Korea: U.S. economic recovery may be delayed as the epidemic spreads again.Yonhap News Agency reported on July 12 that the International Economic Department of the South Korea Bank (Central Bank) Investigation Bureau predicted in the "Overseas Economic Focus" weekly magazine published on the 12th that the US economic recovery may be delayed. As the epidemic spread again, 14 U.S. states stopped economic activity and six states closed restaurants and movie theaters again. (Ministry of Commerce website)
South Korea's manufacturing boom is expected to continue to decline in the third quarter.Yonhap News Agency reported on July 13 that the results of the Manufacturing Prosperity Index (BSI) survey conducted by the South Korea Industry Research Institute for 1007 manufacturing companies showed that the third quarter market outlook index of the South Korea manufacturing industry was 84 and the sales outlook index was 85 (The above index standards are all 100), and the overall expectations are lower than the second quarter. (Ministry of Commerce website)
Iran's oil production fell to a new low.Affected by the epidemic and the decline in exports, Iran's oil reserves are currently high, and oil extraction has fallen to a 40-year low. According to data from Fischer Global Energy Consulting, Iran's onshore reserves rose to 54 million barrels in April from 15 million barrels in January, and further rose to 6.3 million barrels in June, accounting for 85% of Iran's onshore reserve capacity. (China Chemical 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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