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王毅刚到欧洲,不到24小时,欧盟计划对华加税,中方反制来得很快
Sou Hu Cai Jing· 2025-10-09 14:26
王毅刚踏上欧洲的土地,还没来得及喝上一口意大利浓缩咖啡,欧盟那边就丢出了一颗"加税炸弹"。 刚在罗马与意方谈妥深化合作,气氛一派和谐,欧盟却转头宣布对钢铁进口大幅加税,时间卡得精准得有点诡异。 不到24小时的时间差,这场本该是"修复关系"的访问,突然间多了几分"火药味"。 而中方的回应也没迟疑,第二天就打出了稀土牌,干脆利落。这不是偶然的意外,而是一场有来有回、针锋相对的较量。 别被"保护本国产业"这句老话糊弄了。欧盟这次对钢铁的加税,从数据上看,是把免税配额砍了一半,超额部分的关税直接拉到50%。 明面上没点中国名字,但背后的"小动作"却是针对性十足。比如引用美国的"熔炼和浇注"条款,就是冲着中国产品"绕道出口"去的。 表面上,欧盟是为"本地钢铁业撑腰"。塞茹尔内说得挺可怜:"欧洲钢厂快撑不住了。"但真要细看,欧洲钢铁的问题根本不在别国竞争,而在于自己高企的 能源成本、老化的生产线和迟缓的产业升级。 这种"打你不说你"的操作,熟悉的味道,熟悉的套路。 钢铁这碗饭不好吃,不能怪别人筷子快。 更关键的是,欧盟这次的动作,时机实在太巧。10月1日,特朗普宣布对全球多国商品加税,最高到100%。 8天后,欧盟就对中 ...
山东钢铁:预计2025年前三季度净利润为1.4亿元左右
Mei Ri Jing Ji Xin Wen· 2025-10-09 08:20
每经头条(nbdtoutiao)——与美元脱钩后,暴涨102倍,揭秘黄金疯涨背后神秘的"无形之手"!专家: 推动金价上涨的逻辑没有变 (记者 曾健辉) 截至发稿,山东钢铁市值为168亿元。 每经AI快讯,山东钢铁(SH 600022,收盘价:1.57元)10月9日晚间发布业绩预告,预计2025年前三季 度经营业绩持续向好,盈利能力显著提升,实现利润总额6.32亿元左右,比上年同期增利约21.96亿元; 实现归属于上市公司股东的净利润1.4亿元左右,比上年同期增利约15.91亿元。公司2025年前三季度业 绩提升的主要原因:突出价值创造,深化变革求生,抓两头控中间,提效率、降成本、抓协同,生产运 行稳中提质;深化算账经营,抓实三级成本管控,吨钢降本达到60元以上;持续强化产品经营,创新经 营体运行机制,产销研高效协同,购销两端持续发力,购销差价较去年提升200元/吨以上。 2024年1至12月份,山东钢铁的营业收入构成为:钢铁业占比87.27%,其他业务占比12.73%。 ...
阿根廷暂时取消铝、钢及其衍生产品的出口税
Wen Hua Cai Jing· 2025-10-09 02:07
法令补充说明:"此举旨在增强出口能力,并提升本国生产部门的竞争力。"同时强调,该决定也体现了 阿根廷推动贸易政策向更开放方向靠拢的意图。 今年9月,阿根廷曾暂时取消大豆、玉米、小麦及其副产品(包括生物柴油)的出口税,旨在加速海外 销售并获取美元以稳定持续走弱的比索,但该措施实施不足一周即结束。 决议规定,该措施将持续有效至12月31日,或直至相关国家将关税降至45%以下,以先到者为准。 据文华财经消息,阿根廷政府已暂时取消铝、钢及其衍生产品的出口税,有效期至2025年底。 此项免税措施已于周三生效,适用于出口至此前对此类商品征收至少45%进口关税国家的金属产品。 ...
美联储年内或进一步宽松,中国假期人流量同比增6.2%
Dong Zheng Qi Huo· 2025-10-09 00:43
1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Core Views of the Report - The Fed may further ease monetary policy this year, which has an impact on various financial and commodity markets [1][11]. - During the National Day holiday, the cross - regional passenger flow in China increased by 6.2% year - on - year, and Chinese equity assets rose slightly but underperformed globally [2]. - The supply side is the key factor affecting the price trends of various commodities, and different commodities face different supply and demand situations [3][4][5]. 3. Summary by Relevant Catalogs 3.1 Financial News and Reviews 3.1.1 Macro Strategy (Gold) - Trump announced that Israel and Hamas signed the first phase of the peace plan, and the Fed's meeting minutes indicated that further easing might be appropriate this year [10][11]. - Gold prices rose to a record high of $4059 and then fell back, increasing by about 5% during the holiday due to risk - aversion sentiment. Short - term, the positive factors are fully priced, and there is a risk of a pullback [11]. - Investment advice: Be cautious of the risk of a decline due to long - position profit - taking after the price hits a new high [12]. 3.1.2 Macro Strategy (Foreign Exchange Futures - US Dollar Index) - Macron plans to appoint a new prime minister, Trump said Israel and Hamas reached an agreement on hostage release and troop withdrawal, and the Fed's interest - rate meeting minutes showed internal differences on the number of interest - rate cuts [13][14][15]. - The US dollar index will fluctuate in the short term, and the market's risk appetite continues to rise [16][17]. - Investment advice: The US dollar index will remain volatile in the short term [18]. 3.1.3 Macro Strategy (US Stock Index Futures) - Meta and Apple are about to reach a settlement with the EU Commission on antitrust cases, and the US Senate rejected the bipartisan temporary appropriation bill again [19][20]. - The Fed's meeting minutes showed internal differences among officials, but the market's optimistic sentiment towards AI and interest - rate cuts remains high, and the market is expected to remain strong [21]. - Investment advice: The US stock market is expected to maintain a strong trend after a small adjustment [22]. 3.1.4 Macro Strategy (Stock Index Futures) - China's Ambassador to the US called for expanding China - US cooperation, and the cross - regional passenger flow during the National Day holiday increased by 6.2% year - on - year [23][24]. - Chinese equity assets rose slightly during the holiday but underperformed globally. The market is still in a structural pattern, and the rhythm is more important than the position [25][26]. - Investment advice: The market is in a structural pattern, and rhythm is more important than position [26]. 3.1.5 Macro Strategy (Treasury Bond Futures) - The manufacturing PMI in September was 49.8%, and the central bank conducted a 7 - day reverse repurchase operation of 2422 billion yuan [27][28]. - The bond market is expected to fluctuate in the first half of October and may strengthen after the 14th Five - Year Plan policies are implemented [28]. - Investment advice: The bond market is expected to fluctuate and bottom out in the short term. Short - term trading should be cautious, and medium - term long positions can be considered on dips [28]. 3.2 Commodity News and Reviews 3.2.1 Agricultural Products (Soybean Oil/Rapeseed Oil/Palm Oil) - Indonesia is about to start the B50 road test [29]. - During the holiday, Malaysian palm oil led the rise in the overseas oil market. The market predicts that Malaysia's palm oil inventory will decline slightly in September [30]. - Investment advice: The domestic market is expected to make up for the rise after the holiday, but be cautious of a pullback after a high opening. In the long - term, go long after the clear signal of production reduction in the producing areas in the fourth quarter [30]. 3.2.2 Black Metals (Steam Coal) - The safety inspection in the Ordos steam coal market remains strict, and the coal price is expected to remain weak seasonally in October [31]. - Investment advice: The coal price is expected to remain weak in October, and pay attention to the policy game after the long - term agreement price [31]. 3.2.3 Black Metals (Iron Ore) - Japan's Nippon Steel and Champion Iron are promoting the Kami iron ore project [32]. - During the holiday, the iron ore price fluctuated narrowly around $104. The downstream finished - product market was weak, and the iron ore price is expected to continue to fluctuate narrowly [32][33]. - Investment advice: The iron ore price is expected to continue to fluctuate narrowly [33]. 3.2.4 Agricultural Products (Soybean Meal) - In September, China's soybean imports and crushing volume decreased month - on - month, and the US soybean old - crop inventory as of September 1 was lower than expected [34][35]. - The Brazilian soybean sowing progress reached 8.2% as of October 4. The CBOT soybean price rose slightly during the holiday. The US government shutdown suspended the release of relevant reports [37]. - Investment advice: The soybean meal price is expected to fluctuate temporarily, and Sino - US relations are the main influencing factor [37]. 3.2.5 Black Metals (Rebar/Hot - Rolled Coil) - The EU plans to impose a 50% tariff on steel imports outside the quota [40]. - During the holiday, the overseas metal prices rose slightly, and the steel price is expected to rise slightly after the holiday, but the inventory accumulation during the holiday will suppress the spot price. Pay attention to the terminal demand [40]. - Investment advice: Treat the market with a range - bound mindset after the holiday and pay attention to the demand intensity [41]. 3.2.6 Agricultural Products (Red Dates) - The red date price in the Guangzhou Ruyifang market was stable, and the futures price of the main contract CJ601 fell [42]. - The supply in Xinjiang is normal, and the demand in the north - south distribution areas is stable. The new - season output and old - crop inventory are still being debated [42]. - Investment advice: Hold a wait - and - see attitude or conduct short - term operations in the short term, and pay attention to the fruit development in the producing areas and downstream consumption [42]. 3.2.7 Non - Ferrous Metals (Copper) - The ICSG predicts that the global copper mine production will increase by 1.4% in 2025 and 2.3% in 2026, and there will be a supply surplus in 2025 and a shortage in 2026 [43][44]. - Teck Resources lowered its copper production forecast for its Chilean flagship mine, and Aurubis raised the European copper premium for 2026 [45][46]. - Investment advice: Adopt a long - position strategy unilaterally, and pay attention to the domestic - foreign positive arbitrage [47]. 3.2.8 Non - Ferrous Metals (Lead) - The resumption of production of a small lead - zinc mine in Fujian was postponed to the end of October [48]. - The supply of lead has improved, and the demand is stable. The Shanghai lead price may fluctuate upward [50]. - Investment advice: Go long on dips unilaterally and pay attention to the positive arbitrage of the monthly spread [50]. 3.2.9 Non - Ferrous Metals (Zinc) - 29Metals withdrew its zinc production guidance due to an earthquake, and the resumption of production of a small lead - zinc mine in Fujian was postponed to the end of October [51][52]. - The LME zinc price is supported, and the domestic zinc export window may open. The inventory is expected to rise after the holiday [53]. - Investment advice: Adopt a wait - and - see attitude unilaterally, and pay attention to the medium - term positive arbitrage opportunity brought by the opening of the export window [53]. 3.2.10 Non - Ferrous Metals (Polysilicon) - The expansion project of Xinjiang Dongfang Hope New Energy Co., Ltd.'s polysilicon plant is under environmental protection acceptance [54][55]. - The polysilicon price may remain flat, and the component price is expected to fluctuate in the short term [55][56]. - Investment advice: The market may fluctuate widely between 49,000 - 55,000 yuan/ton in October. Pay attention to the range - bound operation opportunities [57]. 3.2.11 Non - Ferrous Metals (Industrial Silicon) - The SASAC called for抵制 "involution - style" competition [58]. - The inventory of industrial silicon is expected to accumulate slightly in September - October and decrease slightly in November - December [59]. - Investment advice: It is more cost - effective to go long on dips, but be cautious when chasing the price [59]. 3.2.12 Non - Ferrous Metals (Nickel) - Indonesia will re - implement the annual RKAB system in 2026 [60]. - During the holiday, the LME nickel price was strong. The nickel ore price is expected to rise, and the nickel iron and intermediate product prices are expected to remain strong, but the refined nickel inventory is under pressure [61]. - Investment advice: Conduct range - bound trading in the short term, and go long at low levels from a configuration perspective [62]. 3.2.13 Energy and Chemicals (Liquefied Petroleum Gas) - Saudi Arabia's October CP official prices fell, and the US C3 inventory decreased [63][64]. - The PG price is expected to be easy to rise and difficult to fall in the short term. Pay attention to the start - stop changes of PDH plants after the import cost drops [64]. - Investment advice: Pay attention to the start - stop changes of PDH plants after the import cost drops [64]. 3.2.14 Energy and Chemicals (Crude Oil) - Russia will gradually increase oil production, and the US EIA crude oil inventory increased [65][66]. - International oil prices rebounded after falling during the holiday. The release of supply by oil - producing countries is the key factor affecting the price [66]. - Investment advice: The decline of oil prices depends on whether the supply of oil - producing countries can be effectively released [67]. 3.2.15 Energy and Chemicals (Bottle Chips) - The export prices of bottle chip factories were mostly stable, with some slight decreases [68][69]. - The polyester raw material prices fell, and the bottle chip prices were under pressure. The demand is expected to be weak in the long term [70]. - Investment advice: The absolute price of bottle chips is at a low level, and the inventory of factories has decreased. Pay attention to the sustainability of production cuts and new capacity launches [70]. 3.2.16 Shipping Index (Container Freight Rate) - Maersk said that the freight volume from China to Latin America and Africa has increased [71]. - During the National Day holiday, the spot index fell below 1050, and the short - term market may be weak. Pay attention to the low - buying opportunities after the over - decline of the 12 - contract [71]. - Investment advice: Pay attention to the low - buying opportunities after the over - decline of the 12 - contract [72].
抚顺特钢:9月29日召开董事会会议
Mei Ri Jing Ji Xin Wen· 2025-09-29 11:22
每经头条(nbdtoutiao)——农夫大战怡宝,抢到更多蛋糕的却是宗馥莉!农夫绿瓶上市后,怡宝上 演"滑铁卢":市占率大跌近5个百分点 (记者 王晓波) 2024年1至12月份,抚顺特钢的营业收入构成为:钢铁业占比98.69%,其他业务占比1.26%,服务业占 比0.05%。 截至发稿,抚顺特钢市值为104亿元。 每经AI快讯,抚顺特钢(SH 600399,收盘价:5.27元)9月29日晚间发布公告称,公司第九届第一次董 事会临时会议于2025年9月29日以现场方式召开。会议审议了《关于选举董事长的议案》等文件。 ...
PPI改善动能放缓与出口压力下的经济韧性
China Post Securities· 2025-09-29 07:20
证券研究报告:宏观报告 发布时间:2025-09-29 研究所 分析师:袁野 SAC 登记编号:S1340523010002 Email:yuanye@cnpsec.com 研究助理:苑西恒 SAC 登记编号:S1340124020005 Email:yuanxiheng@cnpsec.com 近期研究报告 《出口韧性、"反内卷",引领 PPI 边际改善》 - 2025.08.25 宏观研究 PPI 改善动能放缓与出口压力下的经济韧性 核心观点 从高频数据来看,工业生产或相对平稳,工业需求有所分化,或 因 8 月和 9 月暴雨等极端天气影响,水利防护工程建设带动沥青需求 回升,但有效需求不足尚未显著改善,螺纹钢库存上升,反制开工率 回落,房地产销售环比回暖,入境流量加快转换为消费增量,海上丝 路指数和我国港口集装箱运价指数显示,出口或存在边际放缓压力, 整体来看,9 月经济运行或相对平稳。从高频数据,有几点边际变化 值得关注: 一是短期 PPI 增速仍有望持续回升,支撑名义增速边际改善,但 PPI 回升动能边际放缓。7 月以来,"反内卷"政策持续升温,相关 行业价格有所回升,PPI 同比增速跌幅收窄。值得注意 ...
美关税冲击致加拿大钢铁业7月产出与出口齐跌
Xin Hua She· 2025-09-26 22:24
Core Insights - The Canadian steel and related manufacturing industry has experienced significant declines in both output and export volumes due to the ongoing impact of high U.S. tariffs [1] Output Summary - Since the U.S. imposed a 25% tariff on all imported steel and aluminum in March, the output of Canada's steel and iron alloy manufacturing sector decreased by 24.8% in July compared to February [1] - Following the increase of the tariff rate to 50% in June, the industry saw a monthly output contraction of 19.1% in July, marking the largest monthly decline of the year [1] Export Summary - In July, the export volume of unrefined steel and iron alloys from Canada fell by 25.5% compared to February [1] - Exports of basic and semi-finished steel products experienced an even more substantial decline, dropping by 34.4% compared to February [1]
习近平宣布中国新一轮国家自主贡献
Xinda Securities· 2025-09-26 12:50
习近平宣布中国新一轮国家自主贡献 [Table_Industry] ESG 周报 [2T0a2b5l年e_9Re月po2rt6D日ate] 行业研究 [ETSaGble_StockAndRank] 郭雪 环保公用联席首席分析师 执业编号:S1500525030002 邮 箱:guoxue @cindasc.com 吴柏莹 环保行业分析师 执业编号:S1500524100001 邮 箱:wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编:100031 证券研究报告 [Table_Title] 习近平宣布中国新一轮国家自主贡献 [Table_ReportDate] 2025 年 09 月 26 日 [Table_ReportType] 行业周报 本期内容提要: [Ta[Tbalbel_热eS_u点Smum聚mamr焦ya]:ry] 投资评级 —— 上次评级 —— 国内:习近平在联合国气候变化峰会发表视频致辞。9 月 24 日,国家主席 习近平在联合国气候变化峰会发表视频致辞。习近平指出,今年是《巴 ...
每周海内外重要政策跟踪(25/09/26)-20250926
Domestic Macro - The State Council discussed the "Banking Supervision Law (Revised Draft)" on September 19, 2025, emphasizing fair competition among various business entities [6][16] - On September 22, the National Development and Reform Commission held a press conference highlighting achievements in the financial sector during the "14th Five-Year Plan" period, with total banking assets nearing 470 trillion yuan, ranking first globally [6][16] - The People's Bank of China announced a 600 billion yuan MLF operation on September 24, marking a net injection of 300 billion yuan for the month, continuing a trend of increased liquidity for seven consecutive months [6][16] Industry Policy - The National Healthcare Security Administration released the 11th batch of drug procurement documents on September 20, 2025 [7][17] - The Ministry of Industry and Information Technology issued the "Steel Industry Growth Stabilization Work Plan (2025-2026)" on September 22, setting an average annual growth target of around 4% for the steel industry over the next two years [7][17] - The Ministry of Commerce and eight other departments jointly issued guidelines to promote digital consumption on September 23, proposing 14 specific measures, including trials for smart connected vehicles [7][18] Local Policy - Shanghai announced adjustments to its housing property tax policy on September 19, 2025, exempting first-time homebuyers and second homes under certain conditions for residents with residence permits [8][19] - Sanya implemented a plan for affordable rental housing on September 21, 2025, with rent prices guided by the government [8][19] - Tianjin will initiate a pilot program for real estate trust property registration on September 25, 2025, aimed at revitalizing existing assets [8][19] Overseas Dynamics - The Bank of Japan decided to maintain its benchmark interest rate at 0.5% on September 19, 2025, marking the fifth consecutive meeting without changes [9][20] - The European Commission approved a new round of sanctions against Russia on September 19, 2025, targeting energy, financial services, and trade restrictions [9][20] - The U.S. government announced a 15% tariff on EU automobiles and related products on September 24, 2025, as part of a trade agreement [9][20]
华菱钢铁(000932.SZ):信泰人寿累计增持6908.63万股公司股份
Ge Long Hui A P P· 2025-09-26 09:59
Group 1 - The core point of the article is that Xintai Life, a major shareholder of Hualing Steel, has increased its stake in the company by acquiring 69.0863 million shares through centralized bidding from September 12 to September 26, 2025 [1] - As of the announcement date, Xintai Life holds a total of 484 million shares, representing 7% of Hualing Steel's total share capital [1] - The shareholding change has reached a 1% integer threshold, and the increase plan is more than halfway completed, indicating that Xintai Life will continue to implement its share acquisition plan [1]