On the afternoon of May 26, when attending the plenary meeting of the People’s Liberation Army and the Armed Police Force delegation at the third session of the 13th National People’s Congress, Xi Jinping emphasized that under the premise of normalized epidemic prevention and control, we will solidly advance all military work and resolutely realize national defense and military building. 2020 goals and tasks.
The third session of the 13th National Committee of the Chinese People’s Political Consultative Conference will conclude this afternoon at the Great Hall of the People. At 3 pm on May 28, the third session of the 13th National People’s Congress will hold a closing meeting at the Great Hall of the People. After the meeting concludes, Li Keqiang will attend a press conference and answer questions from domestic and foreign reporters.
CNOOC announced on May 26 that the Kenli 6-1 oil field located in Laizhou Bay of the Bohai Sea has confirmed proven oil geological reserves of more than 100 million tons and an oil-bearing area of more than 100 square meters. square kilometer. The oil field has become the first large-scale oil field with a capacity of 100 million tons in the northern part of the Laizhou Bay of the Bohai Sea in my country, and is scheduled to be put into production in 2022.
On May 26, Russian President Putin announced that the Red Square military parade “to commemorate the 75th anniversary of the victory in the Great Patriotic War” would be held on June 24, and ordered the Russian Ministry of Defense to start Make preparations for the military parade.
As of early morning closing this morning, the US S&P 500 index rose 1.23%, the European Stoxx50 index rose 1.04%, the U.S. dollar index fell 0.79%, WTI crude oil rose 1.82%, and Brent crude oil rose 1.58 %, London copper rose 1.21%, gold fell 1.82%, U.S. soybeans rose 1.68%, U.S. soybean meal fell 0.04%, U.S. soybean oil rose 2.14%, U.S. sugar rose 1.00%, U.S. cotton rose 1.25%, CRB index rose 1.61%, BDI The index rose 1.61%. The offshore yuan CNH rose 0.03% to 7.1434, and the Deutsche Bank X-Trackers Harvest CSI 300 China A-share ETF rose 0.67%.
Worldometers real-time statistics show that as of 6:17 on May 27, Beijing time, the cumulative number of confirmed cases of COVID-19 worldwide has exceeded 5.65 million, and the cumulative number of deaths has exceeded 350,000. . Among them, a total of 1,723,428 cases of new coronary pneumonia have been diagnosed in the United States, a total of 377,780 cases have been diagnosed in Brazil, and a total of 362,342 cases have been diagnosed in Russia.
The economy “restarts” and optimism pushes up U.S. stocks
Thanks to the optimism brought about by the “restart” of the economy, the U.S. stock market rose sharply on May 26, with the Dow Jones Industrial Average rising nearly 530 points throughout the day. As of the close in the early hours of this morning, the Dow Jones Industrial Average rose 2.17%, and the 25,000-point mark was lost again. The Nasdaq Index rose 0.17%, and the S&P 500 Index rose 1.23%.
U.S. National Economic Advisor Kudlow said that signs of market rebound indicate that the U.S. economy has bottomed out and that the third quarter may be the fastest growth in U.S. history period.
The S&P 500 broke above its 200-day moving average for the first time since March 6. Many technical analysts view this moving average as a sign of a longer-term trend, with levels above this level potentially signaling a shift in the long-term trend from bearish to bullish.
Market participants believe that the latest progress in the development of a COVID-19 vaccine has also contributed to the rise of global stock markets to a certain extent.
According to the Associated Press report on May 25, the US biotechnology company Novavax announced that the new coronavirus vaccine developed by the company has entered the clinical trial phase. Volunteers have been recruited for a vaccination trial in Australia and it is hoped it will be available this year. This is the 10th vaccine in the world to enter the clinical trial stage.
Dr. Gregory Glenn, Novavax’s head of research and development, announced that the company’s vaccine has begun phase one clinical trials, and the trials are being conducted in Australia. 131 volunteers in Melbourne and Brisbane will test the safety and effectiveness of the vaccine. Preliminary results are expected to be obtained in early July, and if successful, it will enter phase II clinical trials.
Dr. Glenn revealed that the company has begun producing the vaccine in advance and hopes to put the vaccine into use directly after proving its effectiveness. According to reports, the principle of the new coronavirus vaccine is to imitate the spike protein (S protein) of the new coronavirus, allowing the body’s own cells to generate an immune response after being infected and generate corresponding antibodies.
The report pointed out that among the new coronavirus vaccines currently being developed in the world, about 12 vaccines have entered the initial clinical trial stage or are preparing to enter this stage, and their research and development units are mainly from China. , the United States and Europe. Whether the vaccine is effective or not needs to be verified through phase three clinical trials. At this time, it is unclear whether a safe and effective COVID-19 vaccine will eventually emerge.
Europe’s major stock indexes closed higher, with France’s CAC 40 index rising more than 1%. The Financial Times 100-stock average price index of the London stock market closed at 6067.76 points, an increase of 74.48 points or 1.24% from the previous trading day. Europe’s three major stock indexes all rose that day. The CAC40 index of the Paris stock market in France closed at 4606.24 points, an increase of 66.33 points or 1.46% from the previous trading day. The DAX index of the Frankfurt stock market in Germany closed at 11504.65 points, an increase of 113.37 points or 1.00% from the previous trading day.
In terms of crude oil, due to the insistence of oil-producing countries��There is still room for growth, but the increase is limited.
External mine shipments have recovered, and iron ore positions have been reduced
Yesterday, the main iron ore 2009 contract, contrary to its previous strength, gradually dropped during the session, falling below the 700 yuan/ton mark. The main force reduced its position by nearly 30%. The daily reduction was 71,323 lots and closed at 698.5 yuan/ton, down nearly 3%. . Iron ore remained weak in the night session, opening 1.49% lower, and then continued to fall, reaching as low as 685.5 yuan/ton during the session.
Founder mid-term futures analyst Liang Hai told the Futures Daily reporter that iron ore futures prices fell yesterday due to the recovery in shipments from foreign mines. “Judging from the shipping situation of foreign mines in this period, the shipment volume of Australian mines has begun to pick up as expected with the end of maintenance. This period increased by 1.416 million tons month-on-month, returning to above 17 million tons, of which the volume shipped to China was 14.913 million tons, an increase of 957,000 tons month-on-month. The recovery of Brazilian mine shipments is more obvious. In this period, Auba mine shipped a total of 23.639 million tons, a significant increase of 3.816 million tons month-on-month. It is expected that the current situation of foreign mine arrivals is tight. It will be gradually eased in the future, iron ore supply and demand will gradually transition from the current weak supply and strong demand to strong supply and demand, and port inventories will gradually stop falling and stabilize.” He said.
In addition, Liang Haikuan said that based on Mysteel’s survey of sample steel plants across the country, there is still room for further growth in hot metal production in June, and the average daily hot metal production is expected to exceed 250 million tons, the consumption of imported ore will still maintain a high level. Under the expectation that the supply side will gradually recover, the subsequent interpretation of iron ore prices will mainly depend on the duration of the current high demand for terminal steel.
“It is worth noting that the recent sharp rise in iron ore and coke prices has begun to compress the profit margins of steel mills. When the south enters the rainy season, the strength of terminal steel demand will be tested. , once it weakens, the pressure of high inventory and high production of finished products will put pressure on the market price, which will form a negative feedback on the price of iron ore on the raw material side. Overall, the most tense moment for the iron ore supply side is about to pass, and the market will continue to rise. Momentum will gradually deplete, and subsequent operations should switch to short selling on rallies.” Liang Haikuan said.
Palm rebounded from lows, eggs “continuously fell”
Yesterday In the agricultural product sector of the domestic futures market, palm oil led the gains, while eggs led the decline.
The trend of palm oil has been strong since mid-May. Liu Jiawei, an analyst at Guotai Junan Futures, told the Futures Daily reporter that palm oil has rebounded from a low level, boosted by the marginal improvement in supply and demand in the production areas. There are four main reasons: first, India resumed purchases of Malay palm oil, leading to an improvement in Malaysian palm oil exports; second, biodiesel consumption is expected to improve; third, the month-on-month growth rate of Malay palm oil production slowed down in May Fourth, export quotations from the origin are strong, domestic palm oil import profits have become worse, and domestic palm oil port inventories continue to decline, which has also boosted prices.
“In short, the current factors driving the rise in palm oil prices are mainly the improvement in demand in the production areas and the slowdown in supply pressure. In addition, domestic inventories are low. Looking at the market outlook, it is expected to drive The logic of rising prices is still expected to continue. Palm oil is resistant to falling prices in the short term, and there is still room for future price rebound.” Liu Jiawei believes that currently, palm oil inventories in major sales areas such as India and China are low, and there will still be purchase demand in the future. In addition, the month-on-month growth rate of palm oil production slowed down in May. As the temperature rebounded, palm oil gradually entered the seasonal consumption peak season, which supported prices to a certain extent.
Egg prices have been falling since mid-April and have now fallen below the 2,700 yuan/500kg mark. Yesterday, egg futures prices closed down 2.64%, closing at 2,693 yuan/500 kilograms. Founder mid-term futures analyst Huo Yawen believes that the imbalance between supply and demand is the main reason for the continued decline in egg prices in the recent stage.
“The current supply pressure in the egg market still exists. The number of laying hens has remained high recently, and it is difficult to see a significant decline in the stock in the short term. In addition, the high temperature weather across the country and the With the arrival of the rainy season, it becomes more difficult to preserve eggs, the preservation time is shortened, the terminal stocking quantity is limited, and the inventory is backlogged.” Huo Yawen believes that from the supply side, the low replenishment situation in January and February this year will be in mid-to-late June. It has gradually emerged that the number of new laying hens has decreased, and at the same time, breeding profits have been at a loss recently, which has intensified the farmers’ mentality of eliminating old chickens, which may alleviate the current supply pressure on the egg market to a certain extent. From the demand side, with the orderly resumption of domestic schools, egg demand may further recover. In addition, the Dragon Boat Festival is coming, which can boost egg consumption in the short term and may ease the pessimistic atmosphere in the egg market. </p
