1. Preference for October production schedule data of the three major white goods companies
The total production of air ice washing and discharging in October 2024 was 28.63 million units, an increase of 13.4% compared to the same period last year. Among them, the production of household air conditioners reached 11.77 million units, an increase of 23.9% compared to the same period last year; 8.5 million refrigerators, an increase of 8.6% compared to the same period last year; 8.36 million washing machines, an increase of 5.6% compared to the same period last year. (Industry Online)
2. The meeting emphasized multiple measures
3. US port strike could severely damage global supply chain
The International Longshore Workers' Federation of America recently threatened that tens of thousands of workers at over 30 ports on the East Coast and Gulf Coast of the United States would go on strike if a new agreement cannot be reached between labor and management before the contract expires on September 30th. Some industry insiders are concerned that a large-scale strike at ports could have a "devastating impact" on the US economy and bring a "perfect storm" to the global supply chain. (Xinhua Finance)
Today, the prices of pipe blanks and pipe factories remained stable, with individual factories raising prices by 100 yuan. The enthusiasm for accepting orders has increased, and profits have been restored. The rebound is strong, and it is expected that the pipe materials will operate strongly tomorrow.
With the Federal Reserve cutting interest rates by 50 basis points, multiple central banks have adjusted interest rates, global capital liquidity has increased, domestic monetary policy space has been opened up, and domestic central banks have lowered their reserve requirement ratios. Today's high-level meeting emphasized the effective implementation of the stock policy, the promotion of incremental policies, the issuance and use of super long term treasury bond and other stimulus policies, and the macro policy expectations continued to strengthen. At the same time, the steel mills continued to resume production, which was good for the furnace charge price. The coke has the expectation of a third round of increase, and the support for raw material costs has strengthened. This Friday, the large materials continued to go to the warehouse, and the demand increased. The supply and demand fundamentals continued to improve. It is expected that the steel price will continue to rise tomorrow.