Chinese futures market is a quick response at (2023.08.17)

1. Data released by the China Futures Industry Association show that in the first half of 2023, the cumulative turnover of China's futures market was 3.951 billion lots (unilateral) and 262.13 trillion yuan, an increase of 29.71% and 1.80%, respectively, and the cumulative turnover of the half year reached a record high.

2. According to Mysteel, at present, in the sample of 11 steel mills in Shandong Province, only one large steel enterprise has made a production reduction plan for the next few months, the next 9-12 months plan to reduce production of about 1.1 million tons, mainly to reduce the production of rebar, other steel mills have not yet made a clear plan, but all said they were aware of the news of limited production. And waiting for further guidance on output leveling policy.

3. As of August 16, the week, looking for steel mesh inventory analysis, including building materials output of 3.3011 million tons, an increase of 57,300 tons week on week, up 1.77%; Building materials table needs 3.251,500 tons, an increase of 230,400 tons week on week.

4. According to Mysteel, on August 16, individual carbon enterprises in Shizuishan market stopped production for maintenance, and planned to resume production at the end of the month, the price of carbon in some enterprises was temporarily stable, and the price of anisocyanate was 1080 yuan/ton, the price of medium material was 1050 yuan/ton, the price of small material was 1020 yuan/ton, and the price of coke surface was 820 yuan/ton, all of which were ex factory prices including tax.

5. Indonesia has fixed the reference price of crude palm oil (CPO) for the August 16-31 period at $820.35 per tonne, down from $826.48 per tonne for August 1-15, the trade ministry said on Wednesday. But export duties and special taxes on palm oil in the second half of August will remain unchanged at US $33 and US $85 per tonne, respectively.

6. According to the latest forecast of the Cotton Association of India (CAI), India's cotton production in 2022/2023 remains unchanged at 31.18 million bales. The total supply of cotton in India is 33.23 million bales, of which 29.68 million bales of new cotton are on the market, 1.15 million bales of imported cotton and 2.4 million bales of initial stock. India consumes 26.5 million bales of cotton and exports 1.4 million bales.

7. According to the expectations of traders surveyed by foreign media, for the week ending August 10, 2023, the net export sales of soybeans in the 2022/23 market in the United States are expected to be between 0 and 400,000 tons; Net soybean export sales for the 2023/24 market year are 0.5 million to 1.3 million tons; Net U.S. corn export sales for the 2022/23 market are expected to range from 0 to 250 thousand tons. Net corn export sales for the 2023/24 market year are 0.5 million to 1 million tons.

8. According to Lonzhong Information, as of August 16, the total inventory of urea enterprises in China was 264,400 tons, an increase of 31,100 tons from last week, an increase of 13.33% from the previous week. Urea enterprise inventory fluctuated this week, and the overall inventory was small compared with last week.

9. The EIA report showed that U.S. commercial crude oil inventories removed from strategic reserves fell by 5.96 million barrels, or 1.34 percent, to 440 million barrels in the week ended August 11, a much larger decline than expected.

10. The latest report published by the World Metal Statistics Bureau (WBMS) shows that in June 2023, global refined copper production was 2,275,100 tons, refined copper consumption was 2,307,200 tons, and the supply shortage was 32,100 tons. Global copper mine production in June 2023 was 1,809,900 tonnes.