August 17 Trade Risk Alert
Release time:
2020-08-17 17:59
Source:
OPECInternational crude oil consumption is forecast to decline by 9.09 year-on-year in 2020.Ecuador's Cosmos newspaper reported on August 12 that the Organization of the Petroleum Exporting Countries (OPEC) predicted on the 12th that international crude oil consumption will fall 9.09 percent year-on-year in 2020 due to the new crown epidemic, down 1.06 percentage points from last month's expected value. The international crude oil market may be in trouble as the future trend of the new crown epidemic and its impact on the crude oil market remain uncertain. (Ministry of Commerce website)
Retail sales fell by 3.1 per cent over the year.According to data from Brazil's National Geographic Statistics Bureau, retail sales in Brazil increased by 8% in June compared with May, the second consecutive increase after falling in March and April, the Globe reported. Pakistan's retail sales fell 3.1 percent in the year and 0.1 percent in the past 12 months. (Ministry of Commerce website)
Mexico's central bank cut interest rates by 50 basis points.Mexico's central bank cut its benchmark interest rate from 5 percent to 4.5 percent on Thursday, in line with market expectations, the Financier reported Aug. 13. The rate cut marks ten consecutive cuts by the Mexican central bank since mid -2019 and six consecutive cuts into 2020. (Ministry of Commerce website)
Many large multinational companies believe that the global economy will be difficult to recover by 2022.Spain's Le Monde website recently published an article pointed out that the world's major multinational companies believe that the world economy will not return to pre-epidemic levels before 2022, even if the ability to withstand the crisis of large enterprises, do not think the world economy can quickly achieve a "V"-shaped recovery. (Xinhua)
WHO calls for durable preparedness against the epidemic.Real-time World Health Organization statistics show that as of 10:00 CET on August 15, more than 21 million confirmed cases of new coronary pneumonia have been reported worldwide and more than 750000 deaths have been reported worldwide. Recently, there have been more than 200000 new daily confirmed cases worldwide, indicating that the global epidemic continues to spread. WHO calls on countries to take comprehensive prevention and control measures and prepare for a lasting response. (People's Network)
Tehran housing annual inflation up 46.4 percent.The Financial Tribune reported on August 12 that the latest data released by the Iranian Statistical Center (SCI) showed that as of July 21, the housing consumer price index in Tehran had increased by 46.4 compared with the same period. Housing inflation rose 58.9 percent last month (June 21-July 21) compared with a year earlier. (Ministry of Commerce website)
The Iranian government imposed a tax on gold coin buyers.Iran's "Financial Tribune" reported on August 14. The National Tax Administration of Iran has announced the tax standards for gold coin buyers in the previous fiscal year (March 2019 to March 2020). According to the disclosed gold tax details, all those who bought more than 185 gold coins must pay a "fixed tax" and file a tax return. (Ministry of Commerce website)
Korean media: Korea's new crown outbreak rebound is now a second pandemic precursor.As of 00:00 local time on August 17, there were 197 confirmed cases of new coronary pneumonia on the South Korea. Among them, the South Korea local infection accounted for 188 cases, foreign imports for 9 cases. For the first time since the end of March, the South Korea's growing number of confirmed cases topped triple digits for four consecutive days. The number of confirmed cases of new crown pneumonia in the first three days was 103, 166 and 279, respectively, showing a continuous sharp increase. Three days, the same is the South Korea local infection, 85 cases, 155 cases, 267 cases. The South Korea epidemic prevention department said on August 16 that the new crown epidemic has again broken out on a large scale and is spreading rapidly, and is now a precursor to a second pandemic. (People's Network)
Israel's economy shrank sharply in the second quarter.According to Xinhua News Agency on the 17th, data released by the Israeli Central Bureau of Statistics on the 16th showed that the country's economy fell at an annual rate of 28.7 in the second quarter of this year. The Bureau of Statistics said the sharp decline in the economy was mainly due to the impact of the new crown epidemic and the government's related restrictions. Israeli media reported that this was the largest quarter-on-quarter decline Israel has suffered in more than 40 years. (Daily Economic News)
South Africa's mining output fell 28.2 per cent in June from a year earlier.According to Statistics South Africa, mining production in South Africa fell 28.2 percent year-on-year in June as a result of the outbreak. The country's mineral sales fell 14.2 percent year-on-year in June, with gold posting the biggest drop, followed by coal, other non-metallic minerals and platinum group metals. (Article source: SMM compiled)
RBA: Negative interest rates hurt bank profitability and lending capacity.RBA President Lowe said the economy could contract by about 7 per cent in the second quarter and is expected to contract by about 6 per cent this year, 5 per cent next year and 4 per cent in 2022 as a result of the outbreak. As for the job market, unemployment is expected to reach around 10 percent later this year. (Caihua News Agency)
Australia's central bank expects the economy to shrink by 6% this year.According to Xinhua News Agency, Australia's central bank governor Philip Lowe said on the 14th, by Victoria's new crown epidemic repeated drag on economic recovery and other factors, the country's economy is expected to shrink by 6% this year. (Securities Times Network)
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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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