Although steel overcapacity. Iron and steel industry investment in fixed assets continued to grow. According to the National Bureau of Statistics. A quarter of the national steel industry has invested 92.4 billion yuan in fixed assets. An increase of 7.3%. Steel inventories showed a monthly increase trend. To the end of March, the nation’s major steel market, the main varieties of steel social inventory increased compared with the end of more than 1,000 tons, an increase of more than 80%.
When it comes to how to resolve the overcapacity problem. Steel Association Deputy Secretary-General Li Chong expressed. Very serious pollution problem in the country currently. The steel industry should further strengthen environmental governance. Can really resolve the overcapacity problem. While promoting fair competition among steel enterprises.
Coupled April HSBC China Manufacturing PMI final value of 50.4, the market is expected to be 50.5, the former value of 51.6. Data show that China’s manufacturing 6 consecutive months of expansion, but the rate of expansion is slowing down. Industry Running a slight improvement. Output and new order growth Jie. But slowdown. The new export orders in the first time this year contraction. Although seven consecutive months above the critical point. But below market expectations. The market mentality is undoubtedly a huge blow. Steel industry PMI index was 45.1%. The chain rose 0.5 percentage points. But in the two consecutive months below 50% of the ups and downs of the line. Description of the current situation in the domestic steel market as a whole remains weak. But the market positive factors increase the previous month.
This led to two major economic data on Thursday, screw the price fell below 3600 points in one fell swoop. Disk weakness filling. SCREW 10 lower opening 3550. Day low of around 3550 platform weak finishing. Days, the highest 3573. Minimum 3530. 3542 income. Down 94 down 2.59%. Funds face neutral. API 5L pipe volume decline slightly over the previous day. Positions increased 129,000 hands. In fact, last week’s inventory data view. Downstream demand has improved compared with the previous. Thread aspect is the most obvious. But May Day “mini vacation” before the holiday does not appear large-scale collective purchasing. So that businesses have been a little lost. At the moment the first day after the holiday opening. All kinds of bad news out. It is in a doubly them.