Wang Jiangping, Vice Minister of the Ministry of Industry and Information Technology, said at the State Council’s regular policy briefing held by the State Council Information Office on June 1 that the sharp rise in raw material prices this year has put pressure on small and medium-sized enterprises. The Ministry of Industry and Information Technology will strengthen operational monitoring, stabilize market expectations, and coordinate to respond to the impact of rising raw material prices on small and medium-sized enterprises. Xiong Maoping, deputy director of the State Administration for Market Regulation, also stated at the meeting that joint supervision will be implemented to protect the legitimate rights and interests of small, medium and micro enterprises and individual industrial and commercial households.
On Tuesday, OPEC+ held a meeting. OPEC representatives said that after increasing production in May and June, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) recommended maintaining the July crude oil production increase plan. According to the plan, OPEC+ will increase production by 350,000 barrels per day in June and 441,000 barrels per day in July. In addition, Saudi Arabia will continue to lift its voluntary production reduction plan of 1 million barrels per day announced earlier this year. The next OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting will be held on July 1.
International oil prices fell after rising on Tuesday. As of the close, the NEMEX WTI crude oil futures July contract closed at US$67.72/barrel, an increase of 2.11%; the ICE Brent crude oil futures August contract closed at US$70.25/barrel, an increase of 2.23%.
Two departments: strengthen monitoring and coordinate to deal with the impact of rising raw material prices on small and medium-sized enterprises
Wang Jiangping, Vice Minister of the Ministry of Industry and Information Technology, said at the State Council’s regular policy briefing held by the State Council Information Office on June 1 that the sharp rise in raw material prices this year has put pressure on small and medium-sized enterprises. The Ministry of Industry and Information Technology will strengthen operational monitoring, stabilize market expectations, and coordinate to respond to the impact of rising raw material prices on small and medium-sized enterprises. Xiong Maoping, deputy director of the State Administration for Market Regulation, also stated at the meeting that joint supervision will be implemented to protect the legitimate rights and interests of small, medium and micro enterprises and individual industrial and commercial households.
Wang Jiangping said that the sharp rise in raw material prices has put pressure on downstream companies. In particular, most small and medium-sized enterprises are in the middle and lower reaches of the industrial chain, and their ability to transmit and digest cost pressures is weak, and they have been affected a lot. The Ministry of Industry and Information Technology will strengthen operational monitoring, stabilize market expectations, and cooperate with relevant departments to resolutely crack down on malicious speculation and price gouging. At the same time, it will promote upstream and downstream enterprises in the industry chain to establish long-term and stable cooperative relationships, and coordinate to deal with the risk of market price fluctuations.
Xiong Maoping said that the State Administration for Market Regulation will closely track price trends, strengthen early warning analysis, proactively take measures, continue to release signals of strong supervision, and maintain market price order. At the same time, efforts should be made to implement relief policies for small and medium-sized enterprises to alleviate the impact of rising raw material prices on small and medium-sized enterprises.
China Banking and Insurance Regulatory Commission: The momentum of real estate financialization bubble has been curbed
On Tuesday, the China Banking and Insurance Regulatory Commission held a release meeting to report on key regulatory tasks in the near future. Among them, combating the real estate bubble has become a key topic. At the meeting, Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, said that the momentum of real estate financialization and bubbles has been contained.
In fact, since the end of last year, various policies for the real estate market have been released one after another. Liang Tao said that the China Banking and Insurance Regulatory Commission must first manage the “gate” of banking industry funds. At present, the problem of excessive capital inflow into the real estate market has been initially reversed. As of the end of April, real estate loans in the banking industry had increased by 10.5% year-on-year, the growth rate hitting an eight-year low. Since 2021, it has continued to be lower than the growth rate of various loans.
“In the next step, the China Banking and Insurance Regulatory Commission will maintain the continuity and stability of real estate financial regulatory policies, avoid ups and downs in housing prices, and promote the stable and healthy development of the real estate market.” Liang Tao said, the China Banking and Insurance Regulatory Commission We will still maintain a high-pressure posture against illegal businesses, prevent and resolve real estate business risks, and prevent the resurgence of chaos.
Liu Zhongrui, deputy director of the Unified Information Department of the China Banking and Insurance Regulatory Commission, said that some local small and medium-sized banks have taken advantage of the exit of large banks to compete for market share of real estate loans. Real estate loans have grown rapidly. Concentration has increased. The China Banking and Insurance Regulatory Commission attaches great importance to this issue and implements list management for banks with a high proportion of new real estate loans, urging these banks to implement real estate financial regulation requirements and reasonably control the growth rate of real estate loans. For banks that fail to make rectifications within the prescribed time limit, the China Banking and Insurance Regulatory Commission will further adopt more stringent regulatory measures.
Wei Chaoming, a building materials researcher at Founder Mid-Term Futures, told a reporter from Futures Daily that with the gradual improvement of regulatory measures in the real estate field, some hotspot cities and their surrounding third- and fourth-tier cities and even county towns have driven real estate bubbles. is expected to be suppressed. The demand for building materials such as threads, glass, aluminum alloys, and PVC in the real estate field will gradually reach its peak. The scale of newly built commercial housing is sensitive to policy responses, and the decline in rebar demand will be an important leading indicator.
The reporter found that on Tuesday, the black series surged again, and iron ore, coke and coking coal futures rose strongly. “Spurred by yesterday’s news that Tangshan City has adjusted the proportion of sintering machines suspended and limited production of steel companies, the control requirements of steel plants have been relaxed, which will increase steel production to a certain extent. The market will re-evaluate the balance of steel supply and demand, while the demand for raw materials will It must have a promoting effect. The steel market opened lower and moved lower on Monday night, and the Japanese market rebounded higher driven by other raw material varieties. The raw material varieties responded to the news and rebounded relatively strongly based on news stimulation and the current demand is more resilient.” Huizhou merchants. Futures black researcher Liu Mengmeng said.
An industry insider who asked not to be named told reporters that on MondayIt shows that Yadong Petrochemical and Honggang 1# PTA production lines have maintenance plans in June. The maintenance time of Hengli 5# and Xinfengming 2# is still uncertain. Yangzi Petrochemical 3# plans to restart in mid-June. Yisheng Ningbo 1 #Restarted at the beginning of the month. At the end of May, Yisheng Ningbo 4# failed and stopped. It is currently undergoing repairs.
According to the reporter’s understanding, subsequent changes in the polyester operating rate will also depend on whether direct-spinning filament production is reduced, and the factors that determine the direct-spinning filament operating rate will also depend on the time before and after the Dragon Boat Festival. Whether there is a marginal increase in orders or sudden production restrictions and production suspensions, such as regional emission reduction policies, etc.
“In the short term, PTA supply and demand have decreased, and the destocking speed has declined marginally. However, PTA supply is still tight in some areas, and crude oil prices are strong. The cost side has raised PTA prices. Obviously, if the trend of crude oil does not change, the near-month contract price may continue to be neutral and bullish, and the far-month contract still depends on the actual deployment of new PTA production capacity and changes in processing fees.” Xie Wen said. </p
