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  [SMM Steel Market Morning News] Economic Operation in 2024 to Progress Steadily

  According to preliminary calculations, the annual GDP was 13,490.84 billion yuan, up 5.0% YoY at constant prices. By industry, the added value of the primary industry was 914.14 billion yuan, up 3.5% YoY; the secondary industry was 4,920.87 billion yuan, up 5.3% YoY; and the tertiary industry was 7,655.83 billion yuan, up 5.0% YoY. By quarter, GDP grew 5.3% YoY in Q1, 4.7% YoY in Q2, 4.6% YoY in Q3, and 5.4% YoY in Q4. On a QoQ basis, GDP grew 1.6% in Q4.

• [SMM Coal and Coke Shipping] SMM China's Total Coal Port Arrivals at 7.757 Million mt, Down 10% MoM

  [SMM Coal and Coke Shipping] The total volume of coal arrivals at Chinese ports tracked by SMM was 7.757 million mt, down 10% MoM. Among them, the total arrivals at 11 main ports were 3.462 million mt, down 20% MoM. The total arrivals at Guangzhou Port were 892,000 mt, accounting for 12% of the total arrivals, down 14% MoM.

• Strong Growth in China's Automotive Market in 2024: NEVs Dominate the Mainstream [SMM Analysis]

  [SMM Analysis: Strong Growth in China's Auto Market in 2024, NEVs Dominate the Mainstream] According to the latest data released by CAAM, China's auto market continued to perform strongly in December 2024. Driven by the trade-in policy, the market remained vibrant, and year-end efforts by enterprises to push for target significantly boosted car purchase demand.

• [SMM Analysis] Silver Prices Reach New Highs, 2024 Silver Production Hits Record High

  [SMM Analysis: Silver Prices Hit Record High, 2024 Silver Production Reaches New Peak] The silver market concluded 2024 with a price increase of nearly 30%, and the soaring prices also boosted production demand among smelters. According to SMM statistics, the production of No.1 silver in 2024 was 17,681.045 mt, up 8% YoY.

• Module production schedule in January dropped 20% MoM. Why is the EVA market still so hot? [SMM Analysis]

  This Week: In the PV-grade EVA market, transaction prices for PV-grade EVA remained in the range of 10,400-10,700 yuan/mt. January's production schedule for PV-grade EVA was approximately 100,000 mt. Pre-holiday stockpiling demand was robust, order signing was active this week, spot PV-grade EVA was tight, and the transaction center moved upward...