Group 1 - The Ministry of Commerce has announced the recognition of dumping of imported copolymer formaldehyde from the United States, European Union, Taiwan, and Japan, which has caused substantial damage to the domestic copolymer formaldehyde industry in mainland China, establishing a causal relationship between dumping and the damage [1] - Starting from May 19, 2025, anti-dumping duties will be imposed on imported copolymer formaldehyde from the aforementioned regions for a period of five years [1] Group 2 - Copolymer formaldehyde, also known as polyoxymethylene copolymer or polyoxymethylene, has high mechanical strength, fatigue resistance, and creep resistance, making it suitable for replacing metals such as copper, zinc, tin, and lead [2] - The applications of copolymer formaldehyde include automotive parts, electronic appliances, industrial machinery, daily necessities, sports equipment, medical devices, piping components, and construction materials [2]

根据《中华人民共和国反倾销条例》的规定，2025年5月19日，商务部发布2025年第18号公告，决定对 原产于美国、欧盟、台湾地区和日本的进口共聚聚甲醛进行反倾销立案调查。现本案调查结束，根据 《反倾销条例》第二十五条规定，调查机关作出最终裁定。现将有关事项公告如下：一、最终裁定，调 查机关最终认定，原产于美国、欧盟、台湾地区和日本的进口共聚聚甲醛存在倾销，中国大陆共聚聚甲 醛产业受到实质损害，而且倾销与实质损害之间存在因果关系。二、征收反倾销税，根据《反倾销条 例》第三十八条规定，商务部向国务院关税税则委员会提出征收反倾销税的建议，国务院关税税则委员 会根据商务部的建议作出决定，自2025年5月19日起，对原产于美国、欧盟、台湾地区和日本的进口共 聚聚甲醛征收反倾销税。 ...

马来西亚贸易部将对印度、日本和韩国等国进口的镀或涂锡铁合金或非合金钢扁轧产品征收最终反倾销 税。 ...

据中国贸易救济信息网，5月10日，印度财政部税收局发布第12/2025-Customs(ADD)号通报称，接受印 度商工部于2025年2月12日对原产于或进口自中国的二氧化钛（Titanium Dioxide）作出的反倾销肯定性 终裁建议，决定对中国的涉案产品征收460－681美元/吨的反倾销税，有效期为5年。本案涉及印度海关 编码28230010、32061110和32061190项下的产品。措施自本通报发布于官方公报之日起生效。 2024年3月28日，印度商工部发布公告称，应印度国内企业Kerala Minerals and Metals Ltd.、Travancore Titanium Products Ltd.和VV Titanium Pigments Pvt. Ltd.提交的申请，对原产于或进口自中国的二氧化钛 发起反倾销调查。2025年2月12日，印度商工部对该案作出肯定性终裁。 ...

商务部公告2025年第24号 公布对原产于印度的进口氯氰菊酯反倾销调查的最终裁定 根据《中华人民共和国反倾销条例》（以下简称《反倾销条例》）的规定，2024年5月7日，商务部（以 下称调查机关）发布2024年第17号公告，决定对原产于印度的进口氯氰菊酯（以下称被调查产品）进行 反倾销立案调查。 调查机关对被调查产品是否存在倾销和倾销幅度、被调查产品是否对国内产业造成损害及损害程度以及 倾销与损害之间的因果关系进行了调查。根据调查结果和《反倾销条例》第二十四条的规定，2025年1 月7日，调查机关发布初裁公告，初步认定被调查产品存在倾销，国内氯氰菊酯产业受到实质损害，而 且倾销与实质损害之间存在因果关系。 分子式：C22H19Cl2NO3 化学结构式： 初步裁定后，调查机关对倾销和倾销幅度、损害及损害程度以及倾销与损害之间的因果关系进行了继续 调查。现本案调查结束，根据《反倾销条例》第二十五条的规定，调查机关作出最终裁定（见附件）。 现将有关事项公告如下： 一、最终裁定 调查机关最终认定，原产于印度的进口氯氰菊酯存在倾销，国内氯氰菊酯产业受到实质损害，而且倾销 与实质损害之间存在因果关系。 二、征收反倾销税 根 ...

商务部表示，对原产于印度的进口氯氰菊酯征收反倾销税的实施期限自2025年5月7日起5年。 ...

Summary of the Conference Call for Ming Tai Aluminum Industry Industry Overview - The aluminum industry is facing significant challenges due to changes in export tax policies and tariffs, particularly affecting exports to North America, which remains a dominant market for the company [2][4][29]. Key Points Export Performance - In Q1, the company's export volume decreased by 30% year-on-year due to tariff impacts, with North America still holding a major share: Canada (50%), Mexico (30%), and the US and other regions (20%) [2][4]. - Despite a 13% price increase, 70% of customers accepted the price hike to continue cooperation, with Canadian market demand recovering to 75%-80% of previous levels [2][13][14]. Product and Market Dynamics - The company primarily exports 3xxx, 5xxx, and 6xxx aluminum products to the US, with 10% of exports being non-dumping products despite a 70% tariff [2][5][10]. - The annual production of 3xxx, 5xxx, and 6xxx products not affected by US anti-dumping measures is approximately 250,000 tons [11]. Pricing and Cost Structure - North American pricing is based on the LME average price plus a premium, while domestic pricing references Shanghai aluminum prices, leading to a price differential [2][8][7]. - The processing fees for 6xxx products in North America range from $1,000 to $1,300, significantly higher than domestic processing fees of 3,500 to 4,000 RMB [6][26]. Market Challenges - Overseas demand is gradually declining, with processing fee outlooks appearing pessimistic due to rising costs and reduced profit margins [17][30]. - The first quarter saw a significant drop in spot premiums from $228 per ton to $182 per ton in the second quarter, indicating weaker overseas demand [21]. Regional Export Insights - The company exports approximately 6,000 to 7,000 tons per month to Asia, accounting for about 30% of total exports, with key markets including South Korea, Japan, and Southeast Asia [12]. - The remaining 30% of exports are distributed across Oceania and Europe, including both EU and non-EU countries [12]. Future Outlook - The company does not plan to expand overseas due to geopolitical uncertainties and the high costs associated with establishing foreign production facilities [27]. - There is a noted trend of order backflow to China as some customers seek to avoid increased costs from tariffs [15]. Competitive Landscape - The US government is attempting to bring manufacturing back to the US through tariffs, with major companies like Novelis and US Steel expanding their operations [24]. - The overall competition in the aluminum processing sector is intensifying, particularly as domestic customers reduce exports, leading to increased competition in the local market [31][32]. Conclusion - The aluminum industry is navigating a complex landscape of tariffs, changing demand, and pricing pressures, with a cautious outlook for future profitability and market conditions [29][30].

Report Summary 1) Report Industry Investment Rating No specific industry investment rating is provided in the report. 2) Core View of the Report Affected by the domestic economy and global trade frictions, steel demand is weak. Although there is a certain restocking demand before the May Day holiday, concerns about the future still exist. Although domestic policies are temporarily supportive but not aggressive, the probability of subsequent efforts still exists. The industry supply and demand has entered a seasonal weakening state. Attention should be paid to short - selling opportunities after the post - holiday rebound ends [1]. 3) Summary by Relevant Catalogs Market Overview - On April 29, black - series commodity futures except iron ore fell across the board. The rebar closed at 3,100 yuan/ton, down 1.21%; the hot - rolled coil main contract closed at 3,210 yuan/ton, down 1.26%; the iron ore main contract closed at 709 yuan/ton, up 0.28%; coking coal and coke continued to decline [1]. Market Analysis - International trade: On April 24, South Korea imposed a four - month temporary anti - dumping duty on hot - rolled carbon or alloy steel medium and heavy plates originating from China, with a tax rate of 27.91 - 38.02% until August 23, 2025. Brazil made an affirmative preliminary anti - dumping ruling on color - coated sheets originating from China and India but did not recommend imposing a temporary anti - dumping duty. Canada launched an anti - dumping investigation into carbon steel wires and alloy steel wires originating from or imported from China, India and other countries. Multiple countries' increase in import tariffs on Chinese steel and anti - dumping investigations have impacted the "price - for - volume" model of net exports, and manufacturing demand has been revised down due to tariff adjustments [1]. - Domestic policy: After the recent Politburo meeting, no super - expected policies were released, and China will enter a policy window period before the May Day holiday [1]. - Supply side: Last week, the profitability rate of 247 long - process steel mills reached 57.58%, a five - month high. Steel mills remained actively producing. The blast furnace operating rate increased by 0.77% to 84.33%, the iron - making capacity utilization rate increased by 1.45% to 91.6% month - on - month, and the daily average pig iron output increased by 42,300 tons to 2.4435 million tons, the highest since October 2023, with the year - on - year increase expanding to 6.83%. The expectation of crude steel reduction has re - emerged. Some short - process steel mills are expected to cut production due to losses. Recently, long - process steel mills have been converting to producing billets with better profits, and the output of rebar in some steel mills has been diverted, resulting in a tight supply of certain specifications, and the short - term supply pressure has been alleviated, improving the supply - demand pattern [1]. Investment Advice - Iron ore: Pay attention to supply - demand changes and inventory levels, and avoid chasing high prices [1]. - Rebar: Investors are advised to adopt a volatile trading strategy in the short term and pay attention to the spread between hot - rolled coil and rebar [1]. - Hot - rolled coil: Investors are advised to adopt a high - level consolidation strategy in the short term and pay attention to supply - demand changes [1]. - Coking coal and coke: Pay attention to the oscillating market after the decline stabilizes or the strength relationship between coking coal and coke [1].

1. Report Industry Investment Rating No information provided in the content. 2. Core Viewpoints of the Report - In April 2025, the prices of ferromanganese - silicon (MnSi) futures declined steadily, with the main contract shifting from 2505 to 2509. As of April 25, the MnSi 2509 contract closed at 5,796 yuan/ton, down 5.66% from March. The supply - demand situation of MnSi was relatively balanced, but the market still had accumulated surpluses. Macro risks in April led to a general decline in industrial products, exerting negative pressure on MnSi [3][6][57]. - In April 2025, the price of ferrosilicon (FeSi) fluctuated and declined, breaking the low since 2021. As of April 25, the main contract of FeSi closed at 5,704 yuan/ton, down 5.03% month - on - month. The price of FeSi was affected by electricity prices, which were closely related to coal prices. In April, coal prices were weak, and electricity prices in some areas declined [4][11][59]. - Looking ahead to May, the surplus of MnSi may be marginally alleviated, but the surplus pattern still exists. There is still the negative impact of Australian manganese ore shipments to be realized in May, so MnSi may remain weak. However, if the low price persists, the shortage of manganese ore will intensify again. There is a high probability that MnSi will experience a manganese - ore - driven upward trend in the third and fourth quarters. FeSi is still affected by coal prices. In May, it is still the off - season for thermal coal, and the decline of raw materials is expected to remain unchanged. After the production cut in April, the supply - demand situation of FeSi will improve. In May, it will mainly fluctuate, waiting for the peak season of coal - fired power in summer to provide obvious support [4][59]. 3. Summary by Relevant Catalogs Market行情回顾 - **MnSi**: In April 2025, MnSi futures prices declined steadily, with the main contract shifting from 2505 to 2509. As of April 25, the MnSi 2509 contract closed at 5,796 yuan/ton, down 5.66% from March. The supply - demand was balanced, production declined significantly in April after rising in March, and the daily average production was at a low level. The inventory still increased, and the market had accumulated surpluses. Manganese ore inventory fluctuated at a low level, with a slight shortage. The Australian ore of South32 is expected to resume shipments in the second quarter. The absolute price of MnSi was low, and there was no obvious fundamental driver. Macro risks in April led to a general decline in industrial products, negatively affecting MnSi. The steel tender price in April was delayed and fell below 6,000 yuan/ton, and the basis fluctuated at a high level in April [3][6][7]. - **FeSi**: In April 2025, FeSi prices fluctuated and declined, breaking the low since 2021. As of April 25, the main contract of FeSi closed at 5,704 yuan/ton, down 5.03% month - on - month. FeSi prices were affected by electricity prices, which were related to coal prices. In April, coal prices were weak, and electricity prices in some areas declined. The prices of iconic steel mills for FeSi decreased month - by - month, and the basis increased as the price of FeSi fell [4][11][14]. Supply - Demand Analysis Policy Impact on MnSi and FeSi - In December 2024, the Lanzhou Industry and Information Technology Bureau carried out energy - saving supervision on the ferroalloy industry. In February 2025, the long - term contract shipments from Gabon decreased from 300,000 tons to 120,000 tons. Due to the impact of tropical cyclone Zelia, the mining in some areas of Oceania was suspended, affecting the production and shipment of manganese ore. Indonesia, Vietnam, and South Korea imposed anti - dumping duties on Chinese steel products. The Chinese government will implement a new round of rural road improvement actions and adopt more active macro - policies [17][18][20]. MnSi Supply - In 2024, the MnSi industry cut production. From January to March 2025, the production was similar to that at the beginning of 2024, and it is expected to decline in April. In March 2025, the national comprehensive starting rate of MnSi production enterprises was 49.98%, with a month - on - month increase of 3.21%. The production in March was 899,115 tons, a month - on - month increase of 11.85%. The production profit of MnSi was poor at the beginning of 2025, and then turned negative again. The industry had serious over - capacity, especially in the north. In April, the import profit of manganese ore was generally poor, and the spot price of manganese ore declined. As of February 2025, South32's Australian ore had not shipped, and the Australian ore of United Mining was also affected by the hurricane and could not be shipped in the second quarter. In March 2025, China's total manganese ore imports were 1.93 million tons, a month - on - month decrease of 13.45% and a year - on - year decrease of 10.60%. The manganese ore inventory was at a low level in the past five years, and there was a slight increase in April compared with March. Although the current inventory was low, there would be no hard shortage in the market [21][25][31]. MnSi Demand - The demand for MnSi mainly comes from the steel - making industry, especially for rebar. In 2024, the demand declined significantly, and there were signs of stabilization at the beginning of 2025, with a year - on - year increase in March. In March 2025, China's rebar production was 1.8611 million tons, a year - on - year increase of 5.6%. Due to the high cost of small and medium - sized manganese mines and the profit - protection measures of large mines, MnSi is not expected to maintain a long - term low price. In the short - to - medium - term, MnSi may be weak in May, but in the long - term, there is a possibility of a strong independent market in the fourth quarter [40][41]. FeSi Production Profit - From January to April 2025, coal prices continued to decline, and the cost of FeSi decreased. Before March, the profit of FeSi improved, and production increased. However, after April, FeSi prices continued to decline significantly, and the profit of using grid electricity to produce FeSi turned negative, so the production of FeSi decreased month - on - month in April [43]. FeSi Production - In March 2025, the national comprehensive capacity utilization rate of FeSi production enterprises was 60.57%, a month - on - month increase of 6.61%. The production in March was 502,740 tons, a month - on - month increase of 12.26%. However, the latest FeSi production has decreased significantly. It is estimated that the production in April will be about 440,000 tons, a month - on - month decrease but a year - on - year increase. The decline in FeSi prices is highly correlated with the decline in coal prices [46]. FeSi Demand - In 2025, the export of FeSi decreased year - on - year but increased month - on - month in March. In March 2025, China's FeSi export volume was 31,523.207 tons, a month - on - month increase of 24.46% but a year - on - year decrease of 15.45%. The main export regions are Asia. If the domestic coal prices continue to decline, the export of FeSi is expected to increase. The production of magnesium, the second - largest demand for FeSi, increased slightly at a low level in 2025. In March, the production of magnesium ingots increased by 0.5% month - on - month. In 2025, the steel production showed signs of recovery at the beginning of the year, but there were frequent news of production restrictions. From the current supply - demand situation, the FeSi market has limited room for large fluctuations [48][51][55]. Summary and Outlook - In April 2025, the price of MnSi futures declined steadily, and the main contract shifted from 2505 to 2509. As of April 25, the MnSi 2509 contract closed at 5,796 yuan/ton, down 5.66% from March. The supply - demand of MnSi was balanced, but there were still surpluses. Macro factors had a negative impact. In April, the price of FeSi fluctuated and declined, breaking the low since 2021. As of April 25, the main contract of FeSi closed at 5,704 yuan/ton, down 5.03% month - on - month. In May, MnSi may remain weak, but there is a high probability of a manganese - ore - driven upward trend in the third and fourth quarters. FeSi will mainly fluctuate in May, waiting for the support from the peak season of coal - fired power in summer [57][59].

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 4月22日消息，据报道， 美国宣布对从柬埔寨、马来西亚、泰国和越南进口的太阳能产品征收新关 税， 其中 反补贴税最高达到3403.96%！ 据悉，根据美国商务部网站当地时间周一公布的一项决定，该机构计算的有关太东南亚四国太阳能产 品的反倾销税为6.1%至271.28%，具体取决于企业和国家。反补贴税在14.64%至3403.96%之间。 这四个国家目前供应美国约77%的光伏组件，去年对美出口太阳能设备总值达129亿美元。这一关税决 定是一项为期一年的贸易调查的最终结果。这项调查是由美国国内太阳能制造商提出的，由前总统拜 登发起。 虽然征收关税势将惠及美国制造商，但也将挤压长期依赖廉价外国供应的美国可再生能源开发商，让这个 因华盛顿政治和政策变化而饱受困扰的行业面临更大的不确定性。 这些所谓的反倾销和反补贴关税，旨在抵消商务部计算得出的所谓不公平补贴和定价的幅度。新税将在特 朗普实施的普遍关税基础之上增加，而特朗普关税已经颠覆了全球供应链和市场。 据美国商务部，针对柬埔寨个别公司的关税税率最高达352 ...