July 20 Trade Risk Alert
Release time:
2020-07-20 17:31
Source:
The Organization of the Petroleum Exporting Countries expects oil production to continue to decline this year.The Wall Street Journal reported on July 14 that the Organization of the Petroleum Exporting Countries (OPEC) released a report stating that global oil demand will fall by 8.9 million barrels per day in 2020 and will increase by 7 million barrels per day by 2021. OPEC said that although annual demand growth for gasoline, diesel and other refined products reached record levels, "efficiency gains in the form of telecommuting and teleconferencing may prevent oil demand growth from exceeding the pre-crisis level in 2019 in 2021", reflecting investors' concerns about the impact of a new round of neo-crown epidemics in the United States, and a surge in cases will crisis the recovery of the oil market and the global economy. (Ministry of Commerce website)
U.S. crude oil production fell by the highest level in a decade.The Houston Chronicle reported on July 13 and 14 that a report released by the US Energy Information Administration (EIA) showed that US crude oil production fell to 12.1 million barrels per day in April, a drop of 670000 barrels per day, the highest in more than a decade. EIA says Texas is the country's largest oil-producing state, with crude oil production in April at 5.2 million bpd, down 234000 bpd, the largest drop in the United States. (Ministry of Commerce website)
Latin America's consumer confidence index fell.The "Globe" reported that the World Federation of Large Enterprises survey showed that the average consumer confidence index of major countries in the world fell to 92 from 106 at the beginning of the year (higher than 100 is positive). Among them, the Latin American regional index fell from 91 in the first quarter to 72 in the second quarter. (Ministry of Commerce website)
6In the first half of the month, 1.3 million Brazilian companies suspended operations or closed.According to a survey conducted by Brazil's National Geographic Statistics Bureau, 1.3 million Brazilian enterprises suspended operations or closed in the first half of June, and 716000 of them will not be able to resume business, the Sao Paulo newspaper reported. (Ministry of Commerce website)
the brazilian economy ministry has forecast a negative growth of 4.7 percent this year.Brazil's "Economic Value" reported that the Brazilian Ministry of Economy released the latest "Macro Fiscal Report", predicting a negative growth of 4.7 per cent in the Brazilian economy this year, the same as expected in May. According to the report of the Ministry of economy, judging from the amount of invoices and retail sales, Pakistan's economy has passed the lowest ebb in April, and the recovery in May is faster than expected. (Ministry of Commerce website)
The G20 pledged to take all measures to support the global economic recovery.Xinhua News Agency, Riyadh, July 18, the G20 finance ministers and central bank governors held a video conference on the 18th, promising to continue to adopt all available policy tools to support the global economic recovery, and reiterated their support for the International Monetary Fund to play the role of the global financial safety net. The core role, agreed to consider extending the debt moratorium for the poorest countries due in December, and will make a decision in the second half of this year based on the development of the new crown epidemic. (People's Network)
UN Secretary-General Guterres: The epidemic may lead to extreme poverty for 0.1 billion people around the world."Lianhe Zaobao" reported on July 20: UN Secretary-General Guterres pointed out that the epidemic of coronary disease has exposed the "fragile skeleton" of society and may cause 0.1 billion people to fall into extreme poverty. But at the same time, the crisis also provides an opportunity to build a more equal and sustainable world. (Ministry of Commerce website)
The ratio of household debt to GDP in South Korea is the highest in the world.Yonhap News Agency reported on July 20 that the International Finance Association (IIF) announced on the 19th that the results of a survey of the GDP-to-household debt ratio of 39 countries around the world based on the first quarter of this year showed that South Korea ranked first with 97.9 percent. An increase of 5.8 percentage points (p) in the fourth quarter of last year (92.1). The ratio of non-financial corporate debt to GDP was 104.6 per cent, ranking seventh, an increase of 7.4 percentage points. (Ministry of Commerce website)
The import of perfume has been banned.The vice-chairman of the Iranian Association of Health, Cosmetics and Perfume Importers said that Iran has banned the import of perfumes this year. 90% of perfumes on the market are imported. Now, as with other cosmetics that have been banned, smuggling has increased. (Ministry of Commerce website)
Saudi Airlines announced it would resume some international flights.Saudi Airlines, the national airline of Saudi Arabia, announced on the morning of the 19th local time that it has begun preparations to resume some international flight services. From July 23, it will take the lead in resuming the round-trip route between Riyadh, the capital of Saudi Arabia, and Guangzhou, China. The announcement shows that the SV884 flight from Riyadh to Guangzhou takes off at 3:15 every Thursday, and the SV885 flight from Guangzhou to Riyadh takes off at 18:30 every Thursday. (Beijing News)
Australia's unemployment rate is the highest in more than 20 years.The Australian Bureau of Statistics released data on the 16th that the country's unemployment rate reached 7.4, the highest level in more than 20 years, and nearly 1 million people are currently unemployed. Australia's unemployment rate was 7.4 per cent in June, up 0.3 percentage points from the previous month, compared with 6.4 per cent in April and 5.2 per cent in March. The Australian Bureau of Statistics says more than 990000 people are currently out of work. (This Evening News)
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