Trade alert

  • Ceramic tableware: Colombia made the fourth anti-dumping sunset review final ruling. Recently, the Colombian Ministry of Trade, Industry and Tourism issued an announcement to make the fourth anti-dumping sunset review affirmative final ruling on the pottery tableware and porcelain tableware originating in China, and decided to impose a minimum offshore (FOB) price limit on the products involved. The implementation of anti-dumping measures is valid for three years.

Trade

  • EU: Large deficit in foreign trade in January (36 billion euros) due to sharp rise in energy prices.
  • Japan and Cambodia: Agree to fully promote the implementation of the RCEP agreement
  • South Korea: Allows OEMs to sell used cars. According to a recent report by South Korea’s “Asia Daily”, the South Korean government has approved the sale of used cars by OEMs. As a result, OEMs such as Hyundai Motor, Kia, GM Korea, and Renault Samsung are expected to officially enter the used car market.
  • Iran: Exports of technical and engineering services amounted to $2.3 billion. According to a recent report by Iran’s Mehr News Agency, data from the Iran Trade Promotion Organization showed that from March 2021 to March 2022, Iran’s exports of technology and engineering services reached US$2.3 billion, an increase of about 400% year-on-year; $4 billion.
  • India: The trade deficit widened further to $20.88 billion in February. Trade exports reached US$34.57 billion, up 25% year-on-year; trade imports reached US$55.45 billion, up 35% year-on-year, and the trade deficit is expected to expand further.
  • The Port of Los Angeles saw record TEU volumes in February. Recently, the Port of Los Angeles announced that it handled 857,765 TEUs in February, a 7.3 percent increase from last year and the busiest February in the port’s 115-year history. Among them, the import of the whole cabinet was 424,073 TEU, a year-on-year increase of 2.7%; the export reached 95,441 TEU, a year-on-year decrease of 5.7%.
  • ONE announced a complete cessation of Russian operations, including no longer accepting new shipping orders to Vladivostok, Russia. It is reported that Vladivostok accounts for about 20% of ONE’s shipments to Russia.

China

  • Energy Bureau: From January to February, the installed capacity of power generation nationwide was about 2.39 billion kilowatts, a year-on-year increase of 7.8%. Among them, the installed capacity of wind power was about 330 million kilowatts, a year-on-year increase of 17.5%; the installed capacity of solar power generation was about 320 million kilowatts, a year-on-year increase of 22.7%. The main power generation enterprises in the country have completed the investment of 47.1 billion yuan in power projects, a year-on-year decrease of 1.9%.
  • Ministry of Industry and Information Technology: From January to February, the total revenue of telecommunications business reached 258.6 billion yuan, a year-on-year increase of 9%, and the growth rate increased by 3.2 percentage points year-on-year. The total amount of telecommunications business calculated at constant prices in the previous year increased by 23.4% year-on-year. As of the end of February, the total number of 5G base stations reached 1.506 million.
  • CAICT: In February, the overall domestic mobile phone market shipped 14.864 million units, a year-on-year decrease of 31.7%. Among them, 11.374 million 5G mobile phones, a year-on-year decrease of 24.5%, accounted for 76.5% of mobile phone shipments in the same period.
  • The National Development and Reform Commission and the Ministry of Finance: Deploy 1 million tons of national potash fertilizer reserves in the near future, and actively organize the timely release of imported potash fertilizers into the domestic market to effectively meet the needs of agricultural production during the spring ploughing period this year.
  • At present, the ternary material recycling discount factor has jumped from about 30% off in the middle of last year to 140%, and the price of lithium iron phosphate cathode waste powder has doubled in one month. According to the research report of CICC, benefiting from the high growth of the two major markets of power and energy storage, the market space of the lithium battery recycling industry has been continuously expanded, and the current high price of resource products has made the battery recycling industry obvious economic benefits, and the industrialization of the lithium battery recycling industry is expected to accelerate. .
  • Recently, international crude oil prices have fluctuated sharply, and domestic chemical raw material prices have generally risen sharply. The prices of raw materials such as resins, coatings, and waterproof materials, such as styrene, rose by nearly 50% year-on-year; the prices of asphalt and emulsions rose by more than 30% year-on-year. Downstream companies have increased their costs due to rising raw material prices. Since February, many coating and waterproof material companies have issued product price increase letters.
  • There are 33,900 cross-border e-commerce related enterprises in China. From the perspective of regional distribution, there are 9,291 cross-border e-commerce-related enterprises in Guangdong, ranking first, followed by Zhejiang and Shandong respectively. From the perspective of urban distribution, Shenzhen has 3,300 cross-border e-commerce related enterprises, ranking first.

Company

  • China Mobile, China Unicom, and China Telecom respectively announced that as of February, the number of 5G package users has reached 425 million, 308 million, and 202 million respectively.
  • Volkswagen China: It plans to establish a joint venture with Huayou Cobalt and Tsingshan Group in Indonesia and Guangxi to further consolidate its position in the domestic battery value chain. Among them, the planned three-party Indonesian joint venture company can meet the supply of nickel and cobalt raw materials required for 160GWh of raw materials after full production.
  • Mavericks Electric: Due to the sharp rise in the price of upstream lithium batteries and other raw materials, the retail guide price of all lithium battery products will be raised once on April 1, and the amount of increase varies from 200 to 1000 yuan, which is subject to the release at that time.
  • PayPal: Will allow users to send money to Ukrainians. The move allows PayPal account holders in Ukraine to send and receive payments from friends and family around the world. Previously, users in Ukraine could only use PayPal to send money abroad.
  • Meta was fined $19 million by the EU.
  • Lamborghini: Annual turnover reached a record high of 1.95 billion euros, a year-on-year increase of 19%; operating income reached 393 million euros, a year-on-year increase of 49%. In terms of sales, Lamborghini will deliver 8,405 vehicles globally in 2021, a year-on-year increase of 13%.

World

  • India: Sri Lanka will be provided with a $1 billion credit line for the purchase of food, medicines and other necessities.
  • The Cuban Ministry of Economic Planning has newly approved the establishment of 118 small, medium and micro enterprises, including 113 private enterprises. It is reported that in order to accelerate economic transformation and recovery, the Cuban government approved the establishment of the first batch of small, medium and micro enterprises in September last year.
  • The Belarusian Exchange announced the launch of RMB trading.
  • Tanzania will strengthen the construction of industrial parks. Recently, the government signed a total of 36 memorandums of understanding during the Dubai World Expo, one of which involved cooperation in the investment and construction of industrial parks in Tanzania.