Domestic economic data for May show that the policy of steady growth has begun to play a role in the improvement of market funds face and steel production will be the steel market a certain good, while the Greek election results will ease market concerns briefly, is also expected to stabilize capital market trends. The bottom of the characteristics of the domestic steel market has begun to show, the late steel price trend is expected to gradually stabilized and showed a trend picked up by a small margin.
Domestic steel industry is currently struggling, weak downstream demand, high raw material prices, steel prices fluctuating around the situation. Last week, the domestic steel market spot and futures prices are within a narrow range; Greek election results issued; these messages get the ability to boost market confidence?
Macro-areas: the enhancement of trade protectionism and external demand continued downturn in domestic exports is not optimistic
Recently published by the Bank of International Settlements data show that in May of RMB real effective exchange rate index 109.72, up 2 percent compared with April, the highest value in the record since the Bank for International Settlements in 1994 to publish this data. Significantly enhanced greater than the appreciation of the RMB against the U.S. dollar impact on exports, coupled with weak demand and the trend of trade protectionism in developed countries because of the real effective exchange rate of RMB appreciation on exports, this year, China's exports is not optimistic.
June yuan movements, the yuan against the dollar spot market trends apparent from the central parity, the disk than the central parity rate fell more than 0.7% for seven consecutive days, the intraday decline was expanded to 0.93 percent. Analysts said the central bank may be interested in the central parity of the guidelines to ease the yuan's recent weak trend, do not want to show the depreciation trend.
Foreign economic aspects: the Greek election results to the introduction of the capital markets or out of the woods
Greek election of concern the introduction of the results of last weekend to support the relief agreement, the conservative New Democratic Party to win the advantage of 2.4% is expected in conjunction with the Panhellenic Social Movement Party cabinet, sharp drop in the possibility of Greece out of the euro in the short term. The euro zone is already in a precarious, Spain, Italy debt problems continues to ferment. Short term good of the Greek general election is expected that the market is still difficult to bring too much to boost market confidence.
Downstream industries: industrial consumer faced with the plight of the driving force of consumer demand small
Steel industry from the point of view, the downstream consumption of iron and steel industry still faces a dilemma. Among them, accounting for more than 36 percent of steel consumption of the real estate industry statistics show that the cumulative new construction area of ??housing in a May 2012 amounted to 728.59 million square meters, the cumulative growth of -4.28% area of ??negative growth in real estate new construction suppress the steel consumption; machinery, excavators, cranes, shovels transport aircraft and other machinery production in April year-on-year negative growth, However, due to the lack of the automotive industry, the accounting point of view of 8% of steel consumption, the growth of the automotive industry will steel industry, consumer demand plays a role.
According to the National Bureau of Statistics, China's crude steel and steel products in May to 61.23 million tons and 81.67 million tons, an increase of 2.5% and 6.3% respectively, the average daily production of 1.975 million tons and 2.635 million tons, the chain fell 2.2 % and 2.5%. Visible in the aggravating circumstances of the loss of steel production, maintenance began to increase, the current downturn in the domestic steel price trend or a certain positive role.
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