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On May 15th, at todays Q1 earnings conference, SMIC co-CEO Zhao Haijun stated that the company achieved sales revenue of US$2.505 billion in Q1, a 0.7% increase quarter-over-quarter. In terms of service type, wafer revenue accounted for 93.9% of total revenue, with the amount increasing by 2.3% quarter-over-quarter, while shipment volume decreased by 0.2% quarter-over-quarter. The average selling price of wafers increased by 2.5% quarter-over-quarter, mainly due to stable and slightly higher foundry prices for some products in the companys advantageous niche markets. In Q1, the company added nearly 9,000 wafers equivalent to 12-inch wafers, with an overall capacity utilization rate of 93.1%, a 2.6 percentage point decrease quarter-over-quarter. This was mainly due to two factors: firstly, the "siphoning effect" of artificial intelligence led to mobile phone manufacturers reducing orders in Q4 last year due to concerns about insufficient supply of supporting memory chips, an impact that partially carried over to Q1; secondly, new factories completed their start-up phase in Q1, with their corresponding capacity added to the denominator of the utilization rate.The Peoples Bank of China (PBOC) announced today that it conducted 500 million yuan of 7-day reverse repurchase operations, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.Samsung Electronics union leader in South Korea: Plans to exercise constitutionally guaranteed rights.May 15 (Kyodo News) – Japanese Environment Minister Hirotaka Ishihara stated at a press conference on the 15th that, regarding the naphtha shortage caused by the deteriorating situation in the Middle East, he urged the public not to over-purchase household garbage bags designated by local governments. This statement was made in consideration of the garbage bag shortages already occurring in some municipalities due to hoarding and other reasons.On May 15th, Honor CEO Li Jian stated that the worlds first robot phone, the Honor Robot Phone, will be launched in the third quarter.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."