In April, the steel industry PMI index was 49.1%, down 1.5 percentage points from the previous month and has been falling for two consecutive months.
Among them, the production index rose to four times the highest in nearly a year; finished product inventory index expansion since February 2015 the highest; and the new order index, the purchase price index fell to 50% for the first time this year under the line. PMI shows that steel production in April at a high level, orders fell, the backlog of corporate inventory, raw material costs to support the lack of steel prices.
The new orders for the steel industry in April also returned to below 50% of the contraction interval of 46.9% after a lapse of 3 months, down 3.7 percentage points from the previous month, and the two fell to the lowest since July 2016. This shows that steel prices fell sharply and the situation of financial constraints, agents and end users to steel orders more cautious, steel orders received a reduction in sales pressure has increased significantly.
April domestic steel prices in addition to a rebound at the end of the month, the whole month shocks fell. Mainly due to the current domestic steel supply pressure increased, tight capital, raw material cost support weakened. However, with the domestic macroeconomic development, steel and production capacity to strengthen environmental management, steel prices have a positive impact, the recent rebound in steel prices. Is expected in May domestic steel prices will be shocks to run the trend.
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