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November steel PMI return contraction interval: Steel City feel the chill
sourceXinhua
time2012/12/04
China SHANGHAI, Dec. 1 (Reporter Li Rong), according to the index report released by the China Federation of Logistics and Purchasing Steel Logistics Professional Committee of the 1st November, the domestic steel industry PMI index fell to 49.2 percent last month to fall 3.5 percent contraction interval returned. Currently still outstanding contradiction between supply and demand in the domestic steel market trend rebounded facing resistance.
Production of the domestic steel industry is still active, strong will of steel mills to expand production to fight deficits, the late domestic steel production capacity or will further release. In November, the steel industry production index was 50.1%, is still in the expansion zone. According to CISA statistics, in mid-November, the average daily production of crude steel amounted to 1.9518 million tons, ring than in early November declined 0.25%, but remained at a level of 195 million tons of online. With the overhaul of the end of the large steel mills, the total overhaul of blast furnace to new lows.
At the same time, the apparent the steel consumer off-season characteristics. In November, the steel industry's new orders index was 46.5%, down 8.9 percentage points in the previous month. This index is a continuous rise in the previous three months, and return to the expansion zone in October, but November has come down substantially to shrink interval, display the current steel industry has entered the traditional off-season, demand growth is weak. In November, new export orders index also return to the contraction range, indicating that China's steel exports experienced a high level in September and October, the risk of late-facing shrinking.
The index report analyzes the steel industry profitability in October, but the key steel enterprises profit of 300 million yuan, the loss of up to 26%, the overall situation remains quite grim. In the case of steel trade market "reshuffle", steel mills agents reduce the iron and steel enterprises in both contract organizations or funds are facing greater pressure.
The next December, is both the fourth quarter at the end is the end of the year, the market will usher in a repayment peak. Many steel trading business in the full year of operating in a difficult case, there is a large repayment pressure. Recent loan disputes between banks and steel trade industry has increased market mutual trust has been missing. The overall capital position of the steel market is expected in December may be tight, steel prices will shock consolidation as the keynote.
Production of the domestic steel industry is still active, strong will of steel mills to expand production to fight deficits, the late domestic steel production capacity or will further release. In November, the steel industry production index was 50.1%, is still in the expansion zone. According to CISA statistics, in mid-November, the average daily production of crude steel amounted to 1.9518 million tons, ring than in early November declined 0.25%, but remained at a level of 195 million tons of online. With the overhaul of the end of the large steel mills, the total overhaul of blast furnace to new lows.
At the same time, the apparent the steel consumer off-season characteristics. In November, the steel industry's new orders index was 46.5%, down 8.9 percentage points in the previous month. This index is a continuous rise in the previous three months, and return to the expansion zone in October, but November has come down substantially to shrink interval, display the current steel industry has entered the traditional off-season, demand growth is weak. In November, new export orders index also return to the contraction range, indicating that China's steel exports experienced a high level in September and October, the risk of late-facing shrinking.
The index report analyzes the steel industry profitability in October, but the key steel enterprises profit of 300 million yuan, the loss of up to 26%, the overall situation remains quite grim. In the case of steel trade market "reshuffle", steel mills agents reduce the iron and steel enterprises in both contract organizations or funds are facing greater pressure.
The next December, is both the fourth quarter at the end is the end of the year, the market will usher in a repayment peak. Many steel trading business in the full year of operating in a difficult case, there is a large repayment pressure. Recent loan disputes between banks and steel trade industry has increased market mutual trust has been missing. The overall capital position of the steel market is expected in December may be tight, steel prices will shock consolidation as the keynote.