May PMI data to see the situation of economic operation
1 this month official may China manufacturing purchase manager index (PMI) for 50.4%, more than a drop of 2.9% last month.
Manufacturing PMI falling, partly reflects the domestic economic downturn than expected. PMI data, manufacturing purchase price index is 44.8%, the last 6 months fell back to the lowest since, although for transmission to the CPI, promote the CPI continues to fall, however, reflects the problem is a serious shortage of industrial enterprise production demand, industrial enterprise production enthusiasm, initiative serious setbacks.
In addition, China manufacturing industry in May new orders index for 49.8%, more than a drop of 4.7% last month. A large range and fell back down to RongKu line below 50%, reflecting the industrial enterprise future production will start serious short, manufacturing future recession intensified or continue.
CPI is expected to fall in oil prices to the downside
According to xinhua, 1, the non-agricultural employment report released the figures came in below expectations, and the unemployment rate for a rose for the first time cause market panic. At the same time, China's manufacturing purchasing managers index (PMI) data makes years minimum level, this also exacerbate the market concerns. Affected by this,
European and American oil prices 1, "diving" appeared, both fall more than 3%. Brent oil prices to close at $98.43 a barrel, fell below $100 a barrel pass; New York oil prices fell to $83.23 a barrel, in October last year to the lowest level since. The writer think, oil prices down although can make to the inflation pressure decrease, but the process is based on the back, Europe and China, the development of the economy slows down, financial debts, employment pressure insufficient ideal and prompted.
The national bureau of statistics will be released on June 9, including the CPI, PPI in May the main economic data. From the ministry of commerce of the key monitoring edible agricultural prices, ministry of agriculture, agricultural wholesale price and monitoring of the national bureau of statistics "50 cities main food average price changes" to see the data in May, food prices overall is in persistent since dropped process, the market is expected to CPI in May will continue to bit.
Traffic bank financial research center senior macro analysts TangJianWei analysis, "is expected to rise in May compared to the CPI at around 3.1%, and may continue to back slightly than April CPI up began to enter. Back in June, and is expected to channel CPI is probably less than 3% year-on-year."
BHP billiton is expected to slow China's iron ore demand
Ian ASHLEY is at present than BHP iron ore business President, on March Australia Perth industry on congress, say a trigger the world largest mining company valuations fall market value of the conclusion: China's iron ore demand growth rate will drop to single digits, China's economy is transformation, is changing, steel demand growth will slow. Soon afterwards, the responsible for iron ore business eight years, for BHP contribution of 25 youth Ian ASHLEY by company officials announced it will than on June 30, leaving formally, the industry he is leaving because guess in iron ore business development, and leadership produced directional differences.
Back in domestic, we look at the latest demand of steel enterprises.
According to the Chinese radio network reports, in the near future, the iron ore prices with the steel price falls, but sales are sluggish and many shipment was delayed. At present, such as rizhao port Qingdao port appeared the backlog of iron ore, ports in mountain mineral, part of the port has reached the backlog of millions of tons of quantity. Qingdao port is China's largest iron ore import one of port, iron ore imports accounted for almost 1/7 of China's total imports. More recently, ten million tons of iron ore stranded in Qingdao port and has become difficult to burden is heavy. Can be calculated, steel enterprises are currently having capacity after producer price steel growth continued to slide, thus DaoBi raw materials such as iron ore iron slide, port ore it serious backlog is reflecting, steel enterprises at present in raw material purchasing cost control is quite cautious.
A lack of demand support domestic pressure increase endorsement
According to the latest market report, in the supply and demand of the imbalance in domestic endorsement, macro economic through out of the end of "good" factors market is easy to digest. The current economic development met a lot of resistance, the national policy on railway investment, to home appliance and automobile manufacturing industries such as provide the good policy to the test of time and good effect to the actual time confirm. The current market clinch a deal "pull up", steel trading businesses look again the emotional coherence.
According to information, recent price in south China is still dwelling endorsement may adjust the prices of the relative low since, hot rolling 5.5 mm * 1500 general volume in 4250 yuan/ton maintain nearby; Cold rolling 1.1 2.0 mm * 1250 at high volume offer gradually a new low, the current the specification clinch a deal valence basic in 4700 yuan/ton or so. Despite the hot rolling plate roll inventories have last week dropped, but cold rolled steel sales are difficult, inventory has been high. Most businesses to avoid losses quickly throw goods, cold, heat resource price game each other, steel prices continue to rise in the short term there still exists certain pressure.
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