公众号记得加星标⭐️，第一时间看推送不会错过。 在长时间的听证会上，卡雷曼斯被多名议员批评"鲁莽""草率""不专业"，并被追问为何没有预见到中 国的反制，导致部分全球车企因缺芯而停线。 面对质疑，卡雷曼斯辩称这是一个"经过充分论证、全面权衡风险后做出的决定"，"我们把所有信息 放在一起，做出了谨慎判断"。 他补充说，中国的举动"不太可能被预料"，因为"出口管制通常是一种防扩散工具"。 虽然一些议员理解荷兰政府面临的两难，但仍不满于部长在未与议会、欧盟或汽车行业沟通的情况下 就突然作出决策。 荷兰 Volt 党议员劳伦斯·达森（Laurens Dassen）说："我们理解干预的必要性，但做法太随意了， 就像驾驶时猛踩油门，却忘记更新导航。" 2025 年，出口管制成为各国惯用的经济武器，但在 Nexperia（闻泰科技旗下安世半导体）危机的中 心人物——荷兰经济部长文森特·卡雷曼斯（Vincent Karremans）近日承认，当中国方面阻止该公司 芯片离境时，他确实"被打了个措手不及"。 这一表态再度引发质疑：荷兰政府在 9 月决定动用一项冷战时期的法律干预这家中资控股、总部设在 荷兰的芯片企业之前，到底做了 ...

Core Viewpoint - Nvidia's CEO Jensen Huang emphasizes the urgency of addressing chip export restrictions to China, warning that neglecting the Chinese market could allow local competitors like Huawei to gain a significant advantage in the global AI landscape [1][2]. Group 1: Market Dynamics - Huang warns that if American companies allow Chinese competitors to dominate, China will quickly seek to export its AI technology globally [1]. - He asserts that relinquishing the Chinese market to local firms will facilitate China's ability to export advanced technologies to other countries [2]. - Huang highlights that China is accelerating its technology promotion efforts, understanding that early market entry and ecosystem development are crucial for becoming indispensable [2]. Group 2: Competitive Landscape - Huang expresses concern over Huawei's capabilities, noting that the company has successfully exported 5G technology through initiatives like the Belt and Road, and is now extending similar strategies to AI [2]. - He acknowledges Huawei as a formidable global tech competitor, emphasizing their agility and responsiveness in the market [2]. Group 3: Energy Supply and Policy Implications - Huang points out that China's energy supply is twice that of the U.S., which he finds illogical given the larger U.S. economy, suggesting that the U.S. must leverage all available energy forms, including nuclear energy [2]. - He calls for the U.S. to encourage and accelerate nuclear energy development to remain competitive [2]. Group 4: Nvidia's Position and Challenges - Nvidia is striving to enter the lucrative Chinese market but faces challenges, including security concerns, regulatory scrutiny, and antitrust investigations in China, as well as backlash in the U.S. for its compliance with government revenue-sharing [4]. - Huang's recent discussions with U.S. President Trump revolve around the critical decision of whether to allow Nvidia to sell the H200 chip to China, which is a generation behind its flagship products [4][5]. - The U.S. government is considering a legislative proposal that could potentially ease restrictions on Nvidia's sales to China, marking a significant policy shift since 2022 [5]. Group 5: Market Potential - Huang estimates that the current AI chip market in China is approximately $50 billion, with projections to grow to $200 billion by the end of 2030 [6]. - He emphasizes the missed revenue opportunities for American companies due to current export restrictions, which he believes could significantly impact Nvidia's investment capabilities [6].

公众号记得加星标⭐️，第一时间看推送不会错过。 英伟达首席执行官黄仁勋周三表示，如果美国公司放任华为等中国竞争对手抢占市场，中国很快将寻 求向全球出口其人工智能技术，其愿景包括打造人工智能版的"一带一路"基础设施倡议。 黄仁勋在华盛顿战略与国际研究中心举办的一次活动上表示，美国通过限制英伟达芯片对中国的出 口，"实际上已经放弃了第二大人工智能市场"，这将为华为等本土技术的发展成熟，并最终在全球范 围内与美国公司竞争留下空间。 黄说："你不可能取代中国市场。我们不应该把整个市场拱手让给他们……我们应该去争取它。" 黄警告说，如果将中国市场拱手让给国内企业，中国将有空间向其他国家出口先进技术。 黄仁勋表示："我们也应该承认，华为是世界上最强大的科技公司之一。我们与这家公司竞争。他们 实力雄厚，反应敏捷，行动速度惊人。" 黄先生表示，正如中国"一带一路"倡议帮助华为向各国出口5G技术一样，"现在又出现了人工智能领 域的'一带一路'。他们肯定会尽快推广中国技术，因为他们明白，越早进入市场，越早建立起相应的 生态系统，就越早成为该生态系统中不可或缺的一部分。" 据美国媒体报道，美国总统特朗普周三在白宫会见了黄，讨论出口 ...

肥料占据玉米生产成本的35%（照片为美国伊利诺伊州，reuters） 肥料价格创三年来新高 含有磷和氮的磷酸二铵（DAP）的国际价格8月达到每吨795美元，创下三年来的高点。9月价格小幅回 落至每吨780美元，尽管如此，仍比年初上涨了34%。 肥料价格受地缘政治风险左右。2022年，因俄乌冲突，肥料价格曾急速上涨。原因是来自全球最大肥料 出口国俄罗斯的供应不确定性上升。 肥料的原料磷矿石的全球总产量中，中国占46%。中国、摩洛哥、美国、俄罗斯这四个国家的磷矿石产 量合计占到全球的70%以上。中国于10月中旬暂停出口尿素等肥料，动摇了全球供应链…… 国际肥料价格正再度攀升。背后的原因是肥料生产地集中于中国、俄罗斯等国家，而地缘政治紧张导致 供应不稳定。中国于10月中旬暂停出口尿素等肥料，动摇了全球供应链。肥料农业生产不可或缺的物 资，其价格高涨及供应受限可能会对食品价格形成上涨压力。 与稀土管制相似 中国10月中旬暂停了氮肥尿素及磷酸二铵的出口。2024年，中国氮肥出口量比上年减少90%以上，尽管 今年春季以后似乎曾出现扩大出口的动向，但如今又再度转向实施出口管制。这种做法与中国将稀土当 作武器进行出口管制的做 ...

1. Report Industry Investment Rating - No information provided about the report industry investment rating. 2. Core Views - Steel prices are under pressure and oscillating at a low level [1] 3. Summary by Related Catalogs 3.1 Fundamental Tracking - **Futures Data**: The closing price of Shanghai Nickel's main contract is 115,530, up 1,480 compared to T - 1; the closing price of stainless - steel's main contract is 12,335, up 45 compared to T - 1. The trading volume of Shanghai Nickel's main contract is 148,534, up 10,331 compared to T - 1; the trading volume of stainless - steel's main contract is 204,886, down 29,038 compared to T - 1 [1] - **Nickel Industry Chain Data**: The price of 1 imported nickel is 116,000, up 1,000 compared to T - 1; the price of 8 - 12% high - nickel pig iron (ex - factory price) is 889, down 2 compared to T - 1; the price of battery - grade nickel sulfate is 28,000, down 80 compared to T - 1 [1] 3.2 Macro and Industry News - On September 12, due to violating forestry license regulations, the Indonesian forestry working group took over more than 148 hectares of the PT Weda Bay Nickel mining area, which is expected to affect nickel ore production by about 600 metal tons per month [1] - China has suspended an unofficial subsidy for copper and nickel imports from Russia [2] - On September 22, the Indonesian Ministry of Energy and Mineral Resources imposed sanctions on 190 mining companies. The sanctions will be lifted if the companies submit a claim plan and place the claim guarantee by 2025 [2][3] - On September 30, the Indonesian Ministry of Energy and Mineral Resources issued a ministerial order. The approval plan for the next year's mine RKAB is expected to be passed by November 15. If the approval result is not notified through the online system, it will be automatically approved on November 15 [3] - The Indonesian government has suspended issuing new smelting licenses for projects producing "restricted products" through the OSS platform [4] - Due to strengthened safety inspections in Indonesian industrial parks, some nickel wet - process projects will reduce production loads to clean up tailings slag ponds, affecting about 6,000 nickel metal tons of production in December [4] - On November 21, the dovish remarks of New York Fed President John Williams and Fed Governor Stephen Miran increased the probability of a 25 - basis - point interest rate cut in December [4] 3.3 Trend Intensity - The trend intensity of nickel and stainless steel is 0, indicating a neutral trend [5]

1. Report Industry Investment Rating - No information provided regarding the industry investment rating in the report. 2. Core Viewpoints - Steel prices are under pressure and fluctuating at a low level, with the nickel market also affected by various factors such as policy changes and production adjustments in Indonesia [1]. - The trend intensity for nickel is +1, and for stainless steel is also +1, indicating a moderately bullish outlook [5]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - **Nickel and Stainless Steel Futures Data**: The closing price of the Shanghai nickel main contract was 114,050, down 1,330 compared to the previous day; the closing price of the stainless - steel main contract was 12,290, up 1 compared to the previous day. The trading volume of the Shanghai nickel main contract was 138,203, and that of the stainless - steel main contract was 233,924 [1]. - **Nickel - related Product Prices**: The price of 1 imported nickel was 115,000, down 1,600 compared to the previous day; the price of 8 - 12% high - nickel pig iron (ex - factory price) was 891, down 4 compared to the previous day [1]. - **Stainless Steel Product Prices**: The price of 304/2B coil - rough edge (Wuxi) Hongwang/Beibuwan was 12,675, up 200 compared to the previous day; the price of 304/2B coil - trimmed edge (Wuxi) Taiyuan Iron and Steel/Zhangpu was 13,250, unchanged compared to the previous day [1]. 3.2 Macro and Industry News - **Indonesia's Nickel Mining Policy**: The Indonesian forestry working group took over more than 148 hectares of the PT Weda Bay Nickel mining area, which is expected to affect nickel production by about 600 nickel metal tons per month. The Indonesian government also imposed sanctions on 190 mining companies, and the issuance of new smelting licenses for some nickel - related products has been suspended [1][2][4]. - **International Trade Policy**: China has suspended an unofficial subsidy for imported copper and nickel from Russia. Trump may impose an additional 100% tariff on China from November 1st and implement export controls on "all key software" [2][3]. - **Production Adjustment**: Some nickel wet - process projects in Indonesian industrial parks will reduce production in December, affecting about 6000 nickel metal tons of output [4]. - **Monetary Policy**: New York Fed President John Williams and Fed Governor Stephen Miran made dovish remarks, increasing the probability of a 25 - basis - point interest rate cut in December [4].

来源：喜娜AI 11月21日，美国联邦航空管理局发布航行通告，警告称在委内瑞拉空域存在"潜在危险局势"，受安 全局势恶化及委内瑞拉境内和周边军事活动加剧的影响，在该空域所有高度运行的民航飞机都需保持警 惕。美国联邦航空管理局建议民航运营方在飞经该空域前至少72小时向其通报飞行计划。这一航行通告 的有效期自"协调世界时"2025年11月21日持续至2026年2月19日。（央视新闻） 1、外媒：美国政府正考虑允许英伟达对华出售H200芯片 路透社21日援引消息透露，特朗普政府正考虑批准向中国出口美国芯片制造商英伟达的H200人工 智能芯片。报道援引知情人士消息称，负责监管美国出口管制的美国商务部正就改变对华出口限制一事 进行审查，并称相关计划可能会发生变动。报道称，美国商务部暂未对此作出回应，英伟达尚未就此直 接置评。（环球网） 2、中方就高市错误言行致函古特雷斯 11月21日，中国常驻联合国代表傅聪致函联合国秘书长古特雷斯，就日本首相高市早苗涉华错误言 行阐明中国政府立场。该函将作为联合国大会正式文件，向全体会员国散发。傅聪大使在致函中表示， 日本首相高市早苗在国会答辩时公然发表涉台露骨挑衅言论。这是1945年 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 来 源 ： 内容编译自na，谢谢 。 荷兰使用冷战时期法律来接管中国控股的Nexperia公司，这场争端危及全球供应链。 大约两个月前，荷兰当局接管了芯片制造商Nexperia ，导致位于奈梅亨的总部与该公司的中国大陆 分公司之间发生冲突，后者誓言要作为一家独立企业运营并履行订单。 那场争端也暴露了全球汽车供应链的脆弱性，因为Nexperia所谓的传统芯片的任何出货中断都会影响 几乎所有主要的欧洲汽车制造商，以及日本和美国的汽车制造商。 以下是Nexperia危机中的关键节点： 9月29日 美国商务部下属的工业与安全局（BIS）扩大了出口管制范围，将至少50%股权由华盛顿贸易黑名单 上的公司持有的实体纳入其中。Nexperia之所以受到美国制裁，是因为它由去年12月被列入黑名单的 闻泰科技全资拥有。 10月17日 Nexperia中国分公司告知客户，其荷兰总部通知员工，工资将停止发放，员工对公司系统的访问权限 也将被暂停。该分公司称，其面临"残酷打压"。 10月18日 9月30日 荷兰经济事务部以国家安全为由，援引一项鲜为人知的1952年法律——《货物供应法》， ...

11月20日，商务部部长王文涛会见美国驻华大使庞德伟。王文涛就美国单边关税、出口管制、双向投资 限制、签证审查、美与第三方经贸协议限制性条款等表达关切，就安世半导体等问题阐明中方立场，并 就双方经贸磋商成果落实与美方进行了交流。 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 ...

Core Points - Taiwan's Ministry of Economic Affairs announced a revision to its export control list, adding 18 new controlled items, including advanced 3D printing equipment, advanced semiconductors, and quantum computers [2] - The revision is in response to updates in international export control norms, such as the Wassenaar Arrangement, and aims to manage trade effectively [2] - The public consultation period for the proposed changes is set for 60 days [2] Summary by Category Export Control Items - The new controlled items include advanced 3D printing equipment, advanced semiconductors, and quantum computing technologies [2] - Specific advanced semiconductor items added to the list include Complementary Metal-Oxide-Semiconductor (CMOS) integrated circuits, EUV masks, low-temperature cooling systems, scanning electron microscopes (SEM), and low-temperature wafer testing equipment [2] Export Licensing Requirements - Taiwanese manufacturers wishing to export controlled items must apply for a strategic high-tech goods export license from the Ministry of Economic Affairs [2] - The Ministry will review the export transactions to ensure there is no risk of proliferation before granting the export license [2] - The initiative aims to prevent goods from being used in proliferation activities rather than outright banning exports [2]