National Bureau of Statistics of China's Service Industry Survey Center, China Federation of Logistics & Purchasing1Daily released data,2Month, China's Manufacturing Purchasing Managers' Index (PMI)PMIPlease provide the Chinese content that needs to be translated.52.6%All category indices are higher than last month, according to the survey.21There is in the industry18The company is in an expansion phase, up from last month.7Manufacturing sector continues to expand.
2In the month, the effects of the stable economic policy measures further materialized, along with the waning of favorable factors such as the dissipating impact, leading to accelerated resumption of production and business activities. China's economic climate continues to improve.
Simultaneously, comprehensively.PMIOutput Index56.4%Increased from last month.3.5The data, which indicates that the business climate for Chinese enterprises is continuing to recover, shows a percentage point above the critical level. Following the release of the figures, the black commodity sector quickly rebounded, prematurely ending this round of adjustment. With the "Golden March" and "Silver April" approaching, demand is expected to further warm up.3Monthly market trends are promising.PART 01
Market News and Analysis
01Treasury Minister Liu Kun: Modestly Increase the Expansion of Fiscal Policy
3Month1On the day, Minister of Finance Liu Kun stated at a press conference, "To enhance efforts" means to moderately increase the expansion of fiscal policy. The key focus points are threefold: Firstly, to enhance efforts in the intensity of fiscal expenditure. Secondly, to boost efforts in special bond investments. Thirdly, to enhance efforts in pushing down fiscal power. Continuously increase the central transfer payments to local governments, tilting towards difficult areas and underdeveloped regions, and ensuring the bottom line of the grassroots "three guarantees."
Analyst Perspective: This year's fiscal policy has been precise and effective, particularly in terms of expansion efforts, special bonds, and especially in the downward transfer of fiscal power. Post-holiday, both infrastructure and real estate projects have faced a lack of funding, leading to unsatisfactory rates of restart and resumption. The rapid downward transfer of fiscal power is expected to alleviate the funding shortage, benefiting the recovery of steel demand.
02Kerui:2Residential property transactions in the month saw year-on-year and month-on-month growth exceeding.4Please provide the Chinese content that you would like translated into American English.
Keruyi data reveals:2The overall market continues its steady recovery trend this month, with key30Urban supply shows slight increase on a month-on-month basis.7%The deal has led to a strong rebound, with year-on-year and month-on-month growth rates both exceeding.4Achieved, the overall transaction scale is comparable to last year.12The monthly figure remains stable.2Monthly cumulative transactions have stopped falling, and signs of market recovery are emerging.
Analyst's Perspective:1Month-over-month, both real estate transactions and land deals, as well as the rate of new housing starts, have seen a year-on-year decline, with the extent of the drop reaching...30%Above. As of2The real estate market's recovery in this month has even exceeded expectations. We believe that as the real estate market continues to rebound, steel demand will also bottom out and rise, laying a solid foundation. The market trend of "Golden March and Silver April" is expected.
03Statistics Bureau:2022China's crude steel production decreased by 10% year-on-year.1.7%
2No Chinese content provided.28On this day, the National Bureau of Statistics released2022In the "Annual Statistical Bulletin on the National Economic and Social Development."2022China's crude steel production in the year101795.910,000 tons, down year-on-year1.7%Steel production134033.5Ten thousand tons, up by 10%.0.3%In the previously released monthly statistics from the National Bureau of Statistics,2022China's crude steel production reached... in the whole year.101300.310,000 tons.
Analyst's Perspective:2022Year remains a year of supply-demand imbalance, particularly...2022Since the latter half of last year, the entire industry has been experiencing losses. A key factor behind this is not only the shortfall in demand but also overcapacity. Last year, China's crude steel production decreased year-on-year.1.7%This year's output remains bleak, and the journey of the national supply-side reform is still underway, making the achievements hard-won.
PART 02
Market Overview
Steel Mill Price Adjustment: Stable with a Slight Weakness3No Chinese content provided.1As of today, according to the information from the Research Institute of China Steel Network (WeChat Official Account: China Steel Network), a total of...20Steel mill adjusts prices, with: increase5Home, accounting for25%Pricing Adjustment10-100Yuan/Tonnes; unchanged15Home, accounting for75%。
PART 03
Futures· Billet Market Dynamics
3Month1Today, main contract: rebar up46Received4216Hot rolled coil prices rise.47Received4304Iron ore prices are rising.21.5Received908.5,Coal Tar Prices Rise54Received2963.0Tangshan rebar prices increased.20Yuan, closed at3920Yuan/Tons.
3No content provided for translation.1Today, spot prices remain stable with a slight uptrend (China Steel Network's large database).
PART 04
Steel Price Forecast
China's official comprehensivePMIOutput Index56.4%Increased from last month.3.5The percentage points, exceeding the critical point, indicates that the level of business and production enthusiasm among Chinese enterprises continues to rise. Meanwhile, industry data shows that the apparent demand for steel decreased by a certain percentage point on a year-on-year basis this week.22.27Ten thousand tons to453.63Ten thousand tons, ending the continuous upward trend after the Spring Festival, still needs...3Monthly data confirms the sustainability of demand. Following the release of data, the black commodity sector quickly rebounded, prematurely ending the current adjustment trend. Steel prices are expected to continue stable with a slight upward trend, welcoming the "Golden March" market. It is predicted that steel prices today will remain stable with some increases.
15th China Iron and Steel Summit
Summit Overview:
Guided by the China National Federation of Metal Industry Associations and the China Non-Ferrous Metals Industry Association, jointly hosted by Zhonggang.com and Tianjin Youfa Group.The 15th China Iron and Steel Summit3Please provide the Chinese content to be translated into American English.18-19The event was grandly held at the Zhengzhou International Convention & Exhibition Center on Saturday and Sunday.
The conference has invited prominent leaders such as Huang Qifan, former Mayor of Chongqing and Adjunct Professor at Fudan University, Lu Yan Chun, Director of the National Development and Reform Commission's Price Monitoring Center, Zheng Yuchun, Deputy Director of the Metallurgical Industry Economic Development Research Center, Li Tao, former Director of the Henan Provincial Department of Industry and Information Technology, Qu Xiuli, Vice President of the China Iron and Steel Industry Association, Bai Lianxiang, Secretary-General of the All-China Federation of Metallurgical Trade Associations, and Chen Leiming, Executive President and Secretary-General of the China Nonferrous Metals Industry Association. Representatives from major steel mills and steel-related enterprises, including the Shougang Changgang Group, Tianjin Youfa Group, and Handan Zhengda Group, will also attend. They will engage in in-depth discussions and exchanges on how the industry can achieve sustainable development and the trends in the steel market.
