Group 1 - Indian Foreign Minister S. Jaishankar is scheduled to visit Russia on August 20-21 for talks with Russian Foreign Minister Sergey Lavrov, coinciding with the U.S. imposing a 25% tariff on Indian goods due to India's purchase of Russian oil [1][3] - The discussions between the two foreign ministers will focus on bilateral issues and international cooperation [1] - The U.S. has increased pressure on India regarding trade, with President Trump announcing a total tariff rate of 50% on Indian imports, citing the import of Russian oil as the reason [3] Group 2 - The Indian government has responded to the U.S. tariffs, labeling them as "unfair, unjust, and unreasonable," and has stated it will take necessary actions to protect national interests [3] - The Kremlin criticized the U.S. threats to increase tariffs on India, asserting that sovereign nations have the right to choose their trade partners and that forcing countries to sever trade ties with Russia is inappropriate [3]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - Copper: Overnight copper fluctuated higher. US inflation pressure is controllable, strengthening the expectation of a 50 - basis - point interest rate cut in September. There are differences in views on the future of US copper. The domestic "Golden September" peak - season expectation and anti - involution policy expectations support prices, and copper maintains a relative balance between bulls and bears [1]. - Aluminum: Alumina, Shanghai aluminum, and aluminum alloy all fluctuated strongly. In August, the profit in the aluminum industry shifted from upstream to downstream. There are signs of a turn in the supply - demand of electrolytic aluminum, and the aluminum price is in a stage of trading time for space with an expectation of continued recovery. Aluminum alloy is in a tug - of - war between cost and demand, waiting for the peak - season guidance [1][2]. - Nickel: Overnight LME nickel and Shanghai nickel both rose. The overall fundamentals changed little and showed a volatile operation [2]. Group 3: Summary by Relevant Catalogs 1. Research Views - **Copper**: The US 7 - month CPI rose 2.7% year - on - year, core CPI reached 3.1%. The market has different views on US copper due to over - inventory. Domestic factors support prices, and copper is in a balanced state [1]. - **Aluminum**: AO2509 closed at 3287 yuan/ton with a 0.83% increase, AL2509 at 20800 yuan/ton with a 0.68% increase, and AD2511 at 20200 yuan/ton with a 0.55% increase. The SMM alumina price dropped to 3248 yuan/ton. There are changes in the supply - demand and profit distribution of the aluminum industry [1][2]. - **Nickel**: LME nickel rose 0.23% to 15360 dollars/ton, Shanghai nickel rose 0.2% to 122870 yuan/ton. LME inventory increased by 450 tons, and domestic SHFE warehouse receipts decreased by 30 tons. The overall fundamentals are stable [2]. 2. Daily Data Monitoring - **Aluminum**: The spot premium changed from - 50 yuan/ton to - 30 yuan/ton. The total inventory decreased by 3913 tons, and the alumina inventory increased by 3.9 tons [5]. - **Nickel**: The price of Jinchuan nickel increased by 600 yuan/ton. The total nickel inventory increased by 444 tons, and the stainless - steel warehouse receipts decreased by 253 tons [5]. - **Zinc**: The main settlement price decreased by 0.1%, and the social inventory increased by 0.77 tons [6]. - **Tin**: The main settlement price increased by 0.9%, and the LME0 - 3 premium increased by 22.16 dollars/ton [6]. 3. Chart Analysis - **Spot Premium**: Charts show the historical trends of spot premiums for copper, aluminum, nickel, zinc, lead, and tin [8][10][13]. - **SHFE Near - Far Month Spread**: Charts display the historical trends of near - far month spreads for copper, aluminum, nickel, zinc, lead, and tin [16][20][21]. - **LME Inventory**: Charts present the historical trends of LME inventories for copper, aluminum, nickel, zinc, lead, and tin [23][25][27]. - **SHFE Inventory**: Charts show the historical trends of SHFE inventories for copper, aluminum, nickel, zinc, lead, and tin [30][32][34]. - **Social Inventory**: Charts display the historical trends of social inventories for copper, aluminum, nickel, zinc, stainless steel, and 300 - series stainless steel [36][38][40]. - **Smelting Profit**: Charts present the historical trends of the copper concentrate index, rough copper processing fee, aluminum smelting profit, nickel - iron smelting cost, zinc smelting profit, and stainless - steel 304 smelting profit rate [43][45][47]. Group 4: Team Introduction - Zhan Dapeng: The current director of non - ferrous research at Everbright Futures Research Institute, with over a decade of commodity research experience [50]. - Wang Heng: An analyst focusing on aluminum and silicon, providing timely policy interpretations and writing in - depth reports [50]. - Zhu Xi: An analyst focusing on lithium and nickel, focusing on the integration of non - ferrous metals and new energy [51].

Core Viewpoint - Brazilian President Lula announced a funding support of 30 billion reais for companies affected by U.S. tariffs [1] Group 1: Government Response - The government will establish a credit line worth 30 billion reais for businesses potentially impacted by tariffs imposed by the U.S. [1] - The signing ceremony for this measure is scheduled to take place in Brasília, with invitations extended to key political figures and business leaders [1] - Lula emphasized that the U.S. tariffs will not go unpunished and that American citizens will bear the consequences [1]

公司数据显示，截至2024年3月底的上一财年，捷豹路虎在美国市场营收65亿英镑。目前，公司在英国 雇员约3.8万人，全球总员工数约为4.4万人。 英国智库公共政策研究所警告称，美国加征关税将对英国汽车产业链构成严重冲击，最多可能导致2.5 万个相关岗位流失，特别是对中部地区大量依赖汽车制造业的零部件供应商而言，影响尤为显著。 【纠错】 【责任编辑:谷玥】 新华社伦敦4月6日电（记者赵小娜）英国汽车制造商捷豹路虎公司日前宣布，自4月7日起的一个月内暂 停向美国出口整车，以应对美国对进口汽车加征25%关税带来的影响。 捷豹路虎在一份声明中表示，暂停向美国出口整车是企业应对"新贸易条件"的短期措施之一。 捷豹路虎公司2008年被印度塔塔汽车公司收购。捷豹路虎是英国重要汽车生产商之一。近年来，这家企 业每年全球销量约40万辆，其中近四分之一出口至美国。 ...

Core Viewpoint - The U.S. government announced "reciprocal tariffs" on global trade partners, with significant rates imposed on China, Vietnam, Thailand, and India, prompting various responses from over 30 listed companies in China regarding the impact on their operations [1] Group 1: Impact on Companies - Companies with high export revenue to the U.S. expressed significant concerns about the new tariffs, such as Fuling Co., which reported that 65.73% and 65.74% of its revenue came from U.S. sales in 2023 and the first half of 2024, respectively [2] - Other companies, like Betta Pharmaceuticals, noted that their products were exempt from the new tariff categories, indicating a varied impact across sectors [3] - Companies such as ST Hongyang and Guangxin Materials reported minimal exposure to the U.S. market, suggesting limited effects from the tariffs [4] Group 2: Preparedness and Strategies - Some companies, including Mindray Medical, had proactively prepared for tariff impacts by stockpiling products in the U.S. prior to the tariff implementation, resulting in no immediate effect on their sales [5] - Daotong Technology indicated that it had already sought manufacturing locations in low-tariff regions to mitigate the impact of the new tariffs [6] - Companies like Huayi Group and Bowei Alloy are implementing strategies to reduce the impact of tariffs, including establishing production facilities in the U.S. and optimizing their supply chains [7] Group 3: Ongoing Monitoring and Adaptation - Many companies are actively monitoring the situation and discussing strategies with clients to adapt to the evolving tariff landscape, with some expressing uncertainty about how the tariffs will be implemented [8] - Yiyi Co. emphasized the need for ongoing communication with clients and exploring new international markets to enhance resilience against tariff impacts [8] - Xinbao Co. highlighted its global presence, with 30% to 40% of its export sales coming from North America, and is committed to closely monitoring tariff changes to ensure stable operations [9]

Core Points - The Brazilian Finance Minister Haddad announced the cancellation of a scheduled video conference with U.S. Treasury Secretary Yellen regarding tariffs on Brazilian products, with no new date set for the meeting [1] - As of August 6, the U.S. government has imposed a 40% ad valorem tariff on Brazilian imports, raising the total tariff rate on most Brazilian products to 50%, including meat, coffee, and fruits [1] - Brazil has initiated dispute consultation procedures at the World Trade Organization (WTO) against the U.S. tariffs, claiming that these measures violate multiple trade agreements [1]

特朗普7月底宣布，对印度输美商品征收25%的关税并实施其他"惩罚"。根据白宫8月6日发布的消息， 特朗普又签署行政令，决定以印度"以直接或间接方式进口俄罗斯石油"为由，对印度输美产品征收额外 的25%关税。这将使得美国对印关税税率高达50%。印方表示，美方对印度加征关税的做法"不公平、 不公正、不合理"，印度将"采取一切必要行动"维护国家利益。 原标题：回击特朗普"死亡经济体"说法？莫迪：印度正"快速迈向"世界前三大经济体行列 编辑：杨四海 责编：吴光亮 审核：廖异 据《印度斯坦时报》报道，莫迪在活动上讲话时称，"我们正快速迈向世界前三大经济体行列。这种速 度源于改革、执行和转型的精神，源于明确的目标和真诚的努力"。《印度斯坦时报》对此解读称，莫 迪似乎是在回击美国总统特朗普关于"印度是'死亡经济体'"的说法。 据彭博社等媒体此前报道，莫迪8月2日曾呼吁民众购买本土产品，以在全球不确定性加剧之际减轻印度 经济所受冲击。 环球网消息，综合《印度斯坦时报》等媒体10日报道，印度总理莫迪在班加罗尔参加一场活动时称，印 度正"快速迈向"世界前三大经济体行列。 莫迪在班加罗尔参加一场活动时讲话的画面 图源：外媒 ...

Core Viewpoint - Shunlong Holdings (00361) anticipates a loss of approximately HKD 14.6 million for the six months ending June 30, 2025, representing an increase in loss of about 1825% compared to the loss for the six months ending June 30, 2024 [1] Group 1: Financial Performance - The company is facing a significant increase in losses due to adverse market conditions in the golf ball sector [1] - The anticipated loss of HKD 14.6 million marks a substantial deterioration in financial performance compared to the previous year [1] Group 2: Impact of Tariffs - The U.S. significantly raised tariffs on imported goods at the beginning of 2025, creating a more turbulent market environment for the company [1] - High tariffs imposed by the U.S. on exports from China have negatively impacted the company's business, particularly as it primarily trades with U.S. clients [1] - Major clients have begun to shift orders or suspend shipments to avoid immediate payment of substantial tariffs [1] Group 3: Temporary Relief Measures - In April 2025, the U.S. temporarily reduced the tariff rate on Chinese goods from as high as 145% to 30%, providing a 90-day period for trade negotiations [1] - This reduction allowed the company to resume deliveries of previously suspended shipments based on client instructions, although sales still experienced a significant decline due to the tariffs [1]

Core Viewpoint - Shunlong Holdings (00361) anticipates a loss of approximately HKD 14.6 million for the six months ending June 30, 2025, representing an increase in loss of about 1825% compared to the loss for the same period ending June 30, 2024 [1] Group 1: Financial Performance - The company is facing a significant increase in losses due to adverse market conditions in the golf ball sector [1] - The anticipated loss of HKD 14.6 million marks a substantial deterioration in financial performance compared to the previous year [1] Group 2: Impact of Tariffs - The U.S. has significantly raised tariffs on imported goods at the beginning of 2025, adversely affecting the company's operations [1] - The high tariffs imposed on exports from China have led to major clients shifting orders or pausing shipments to avoid immediate payment of substantial tariffs [1] - In April 2025, the U.S. temporarily reduced the tariff rate on Chinese goods from as high as 145% to 30%, providing a 90-day period for trade negotiations, which slightly alleviated the situation [1] Group 3: Sales Impact - Despite the temporary tariff reduction, the company's sales have still experienced a significant decline due to the ongoing tariff impacts [1] - The company was able to resume some previously suspended shipments based on client instructions, but the overall sales performance remains severely affected [1]

Group 1 - The U.S. government has implemented new tariffs on imported goods from multiple trade partners, effective August 7, impacting the fertilizer market significantly [1] - Morocco, Saudi Arabia, and Egypt, major suppliers of phosphate fertilizers to the U.S., will face a 10% tariff, while Jordan and Israel will incur a 15% tariff [1] - Saudi Arabia exported 519,000 tons of ammonium phosphate to the U.S. from January to May 2025, accounting for 54.7% of total U.S. ammonium phosphate imports [1] Group 2 - Trinidad and Tobago, the second-largest ammonia supplier to the U.S. after Canada, will face a 15% tariff, but the market impact is expected to be limited [2] - Algeria's granular urea will be subject to a 30% tariff, while Nigeria will face a 15% tariff, both being significant suppliers to the U.S. fertilizer market [1] - The price assessment for diammonium phosphate in New Orleans is between $785 and $800 per short ton, while urea is priced at $455 to $465 per short ton [2]