Statistics Bureau:PMI continues to exceed expectations with further rebound
02
The State Council's安全生产委员会 launches a special campaign to address major hidden hazards.
03
March steel prices are expected to fluctuate and rise predominantly.
Macroeconomic News
01
Statistics Bureau:PMI continues to exceed expectations with further upward trend
In February, China's economic confidence continued to recover. The Manufacturing Purchasing Managers' Index, the Non-Manufacturing Business Activity Index, and the Comprehensive...PMIOutput indices are:52.6%、56.3%Please provide the Chinese content for translation.56.4%Increased compared to last month.2.5、1.9No Chinese content provided.3.5The three major indices have been in the expansion zone for two consecutive months, each with a percentage point increase.
02
NDRC Holds Meeting to PromoteMajor Engineering Session of the "14th Five-Year Plan"
The National Development and Reform Commission recently convened a meeting to promote...Major Engineering Session of the 14th Five-Year Plan. The meeting requires that careful mid-term evaluation work be conducted, and continuous efforts be made to drive various factors and resources towards102A significant major engineering project is being skewed in allocation to expedite the formation of tangible investment work, aiming to accelerate the implementation of key projects.
03
The State Council's Emergency Management Committee launches a special campaign for the rectification of major hidden dangers.
Recently, the General Safety Commission of the State Council organized a comprehensive inspection team to...Thirty-one provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps have initiated a major special rectification and inspection campaign for major hidden hazards in production safety. They are promoting the adherence to the bottom line and red line of production safety across all regions, departments, and enterprises, effectively eliminating major hidden hazards, and firmly preventing major and especially serious accidents from occurring.
04
February saw top 100 real estate companies experience a year-on-year and month-on-month increase in sales revenue.
The China Index Academy releases a new report indicating,20231-2MonthTOP100The real estate sales total was9841.1One billion yuan, down by 10%.4.8%The decline compared to the same period last year has significantly narrowed.29.2Percent points. Wherein.TOP100Real Estate Developer2Monthly sales revenue increased on a year-on-year basis.35.1%No content provided for translation.28.5%Achieved dual growth.
05
March steel prices are expected to fluctuate and rise primarily.
Driven by a warming demand, volatile futures with a slightly bullish trend, and positive market outlook expectations,In February, the overall price trend of the steel industry chain products showed a fluctuating upward trend, with raw material increases outpacing steel increases, indicating a clear cost-driven influence. At the same time, both corporate production and profits exhibited a slight upward trend.3In the monthly market outlook, with sustained demand release, rising costs, and an optimistic market sentiment providing support, it is anticipated that...3Monthly steel prices are expected to trend upward with volatility.
Steel Market Trend Analysis
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Thread:震荡偏强
Rebar inventory began to decrease last week, with the supply and demand situation improving.March1National building materials social inventory rose by the week.1.53%Factory inventory decreased.0.13%Production increases4.38%Surface demand decline22.27%The market has not fully entered the peak consumption season yet, but terminal building materials consumption will continue to increase in the later stage, with overall driving forces remaining positive. It is expected that rebar prices will fluctuate slightly on the strong side today.
02
Hot Rolled Coils: Stable with a slight upward trend
As of now, the weekly output of hot-rolled steel continues to see a slight decline, while terminal demand is gradually recovering, and inventory levels have dropped again. However, the high prices of spot goods are putting pressure, and the short-term market may fluctuate. Steel companies are slowing down their shipments, and downstream steelmakers are showing diversified attitudes. Currently, steel mills are seeing improved profits and increased enthusiasm for resuming production. It is expected that the price of hot-rolled steel may remain stable with a slight upward trend.
03
Mid-plate: Showing strength amidst volatility
Domestic medium plate steel prices experienced a slight increase, with stability being the main trend. The futures market has shown a slight upward trend, and traders' sentiments have improved. Currently, terminal demand is moderate, with demand showing weakness. Transaction volumes in various regions have decreased, with some essential buyers continuing to purchase. The market outlook is predominantly bullish, with downstream inventory preparation intentions on the rise. It is anticipated that medium plate prices will strengthen slightly in the short term.
04
Pipe materials: Trending stronger amidst volatility
Rebar prices are volatile and strengthening, with some pipe material prices rising and most stable. Pipe manufacturers slightly increased production, traders replenished stocks, and market traders, to meet agreed-upon volumes, offered discounts to sell, resulting in high purchasing enthusiasm. Currently, raw material prices are high, boosting market transactions. It is expected that pipe material prices will fluctuate and trend stronger today.
Material Trend Analysis
01
Coke: Volatile with a Bias Towards Strength
To ensure stable and secure energy supply, the Development and Reform Commission's Operation Bureau has been guiding local governments to continuously improve coal production and supply guarantee efforts. The first round of coke price increase supports the market prices, coupled with a slight rise in steel production, benefiting the upward trend of raw material prices. However, the midstream and downstream sectors have a low tolerance for high prices, making it unlikely for coke prices to continue rising sharply in the short term. It is expected that coke prices will fluctuate slightly on the strong side today.
02
Steel billets: Major stability with a slight upward trend
Yesterday, billet prices showed a slight upward trend with improved transactions. There is a considerable amount of forward orders for billets, supported by the expectation of low-level replenishment from downstream rolling enterprises, making the bottom price of billets well-supported. Raw material market prices are strong, exerting pressure on steelmakers' costs. It is expected that billet prices will mainly remain stable with a slight upward trend today.
03
Iron Ore: Consolidating at High Levels
Iron ore inventory has seen varying degrees of decline. On the demand side, pig iron production has continued to increase, while steel mill inventory remains at low levels. Downstream demand is gradually picking up, and expectations for finished product transactions are positive. Traders are actively inquiring, and the bullish sentiment for future prices is intensifying. It is expected that the iron ore market will continue to consolidate at a high level today.
Today's steel price forecast
Official ManufacturingPMI data beats expectations, new home sales data across regions further improves.2Month steel industryPMIThe index has returned.50%Above, it shows that the steel industry is trending towards stability and recovery, with market demand gradually picking up. Raw material prices are soaring, and future demand is expected to continue rising, leading to further increases in steel prices. It is predicted that the overall steel prices today will remain stable with a slight upward trend.
