Archives of “Lithium” tag

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Vale (iron ore producers) say they expect supply to increase, demand lower

  
  Analysis
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Iron ore is a huge Australian export to China. Vale with their outlook for iron ore

  • Going forward on the year, on the supply side, volumes shall increase compared to 2H20 
  • while iron ore demand might be impacted by production cuts due to environmental restrictions in China

China health official says China has officially launched emergency use of COVID19 vaccines

  
  Analysis
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Coronavirus weekend news – Chinese media, Global Times, reports via Twitter that an official at the country’s National Health Commission:

  • says China has officially launched emergency use of a vaccine
  • the vaccine has been in clinical trial since July 22
GT also report on a more than 20,000 person phase III clinical trial in the UAE of Sinopharm’s COVID19 vaccine
  • has shown a high level of safety
  • efficacy is currently under observation
Coronavirus weekend news - Chinese media, Global Times, reports via Twitter that an official at the country's National Health Commission:
Both of the GT items are tweets only, not accompanied by further articles for more information.
There is one more that is accompanied by an article – saying that China’s first recombinant protein COVID-19 vaccine made from insect cells has been approved for clinical trials by the National Medical Products Administration.
  • vaccine is being developed by the State Key Laboratory of Biological Therapy of Sichuan University affiliated West China Hospital
  • vaccine uses insect cells to multiply in the culture medium and introduces the gene of COVID-19 into insect cells, which means the cell can be used as a factory to produce high-quality recombinant vaccine proteins and purify them for refinement.
  • vaccine was tested on monkeys and other animals, and was found to have a good protective effect against COVID-19 infection, with no obvious side effects
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Given the history of how markets view vaccine news (generally positively) this threefer from the GT might be a boost for sentiment on Monday. There is still plenty of time left over the weekend for less than favourable stories to develop, stay tuned.

UN on reports that North Korea have developed nuclear warheads for ballistic missiles

  
Analysis, Politics
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Reuters siting a confidential UN sanctions monitor report they have sighted

  • North Korea continues to develop nuclear weapons program
  • Report says several countries assess North Korea has ‘probably developed miniaturized nuclear devices to fit into the warheads of its ballistic missiles’

News on escalations re NK are yen positive although the market has become a little complacent on such reports. Yen is not moving much on this report.

Japan trade balance for June Y -268.8bn (expected Y -11.9bn)

  
Analysis, Economy
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Japanese data, exports worse than expected, imports fall lower than expected leading to a blow out on the deficit for the month

Japan trade balance for June Y -268.8bn

  • expected Y -11.9bn, prior Y -838.2bn

Trade balance adjusted Y -423.9bn

  • expected Y -331.1bn, prior Y -601.0bn

Exports -26.2% y/y

  • expected -24.7% y/y, prior -28.3%

Imports -14.4% y/y

  • expected -17.6% y/y, prior -26.2%
Japan is an export powerhouse, this miss on exports is suggestive of a global economy in even worse shape than may have been thought.

OPEC and its partners will consider increasing oil output at a meeting this week

  
Analysis, Crude
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Saudi Arabia and most others in the OPEC+ alliance support increasing output by around 2 million barrels a day say reports ahead of this week’s meeting.

  • Key members of the Organization of the Petroleum Exporting Countries and its Russia-led allies will hold a virtual meeting on Wednesday 15 July
There is no further detail on this, link here
The increased optimism comes as hopes are up that demand is beginning to recover and will continue to do so. Its not going to be smooth sailing though.
Saudi Arabia and most others in the OPEC+ alliance support increasing output by around 2 million barrels a day say reports ahead of this week's meeting.
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