Draghi said the ECB will stop at nothing to maintain the euro area. Market speculation the European Central Bank, or restart the securities markets plan financial markets Zhangshengyipian. However, taking into account the economic situation of the Member States in the euro zone, the difference between the interests of the past, all kinds of propaganda or the results of the meeting are difficult substantive follow-up measures, this may also be the case. In addition, the European Central Bank intervene in the market which are subjected to back-up in Germany. PMI, look at the economic sentiment index, Germany's economic decline. Therefore, the size of Germany's rescue will be restricted to relief conditions is difficult to compromise.
 
The Federal Reserve recently held a meeting on interest rates is one of the market focus. In view of the recent United States the PMI, employment data are lower than expected, the market renewed expectations of QE3. However, when claims for continued jobless claims continued to decline, Standard & Poor's / CS20 cities house price index fell significantly narrowing, increased significantly, and housing starts and building permits data, coupled with the core CPI in June rose 2.2%, the chain rose 0.1 percent, the U.S. economy is not bad, the price level is not too low, QE3 short-term is difficult to launch.
 
Our government to "steady growth" on a more important position, and also increased the fine-tuning the intensity of the drop prospective interest rate cuts and other policies presetting. July official PMI was 50.1, a decline has slowed down, but new orders, the attainment index of imports and new export orders continued to decline, suggesting that domestic and external demand continued to slow. The same time, the production index and the difference between the new orders index reflects industrial post-supply pressure. Later re-introduction of the policy may not be ruled out because the data is still weak. However, part of the macro data ring in June rose, and the leading indicators in July official PMI decline slowing domestic economy, signs of stabilization, late or no large-scale policy intervention. Taking into account the short-term quantitative easing in the global trend, and recent agricultural produce collective surge, the late rebound of inflation will limit the tempo and intensity of the positive policies.
 
Ministry of Industry and brewing the "import substitution" policies, want to use this way to help the turnaround of steel prices. The author believes that even if the measures are implemented, the Steel City is also limited: First, the "import substitution" and the corresponding varieties for high-end steel, temporary and ship steel to silicon-based, for the low value-added, rebar import and export volume is very small, of little significance; second, in 2011 China's steel imports 15.59 million tons, even this part of the imports of all domestic steel instead of only 2% of steel production in the same year, but also ; Third, in the context of the steel losses this year Supporter does not cut, once the demand-driven rebound in steel prices, the rate of increase of post-production is likely to exceed the demand has picked up speed.
 
Overall, the policy aspect of the limited real good, coupled with the short-term imbalance between supply and demand in the steel city, the cost is difficult to have strong support, steel short-term still fall risk.



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