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Chinese Steel Weekly-20160503

 

1. According to the statement released in the homepage of the Ministry of Commerce of the PRC, trade protection measures provide no help to solve the difficult situation, with which the world steel industry was confronted. More economies should adopt positive measures to make contribution to over capacity elimination.

MPI's comments: Chinese steel product is favorable in the overseas market due to high quality, good service and competitive price. As a big steel producer, consumer, trader and importer, China actively cooperates with EU, USA etc to find out a solution for healthy development of world economy and steel industry.

 

 

2. According to the data released jointly by Service Survey Center of National Bureau of Statistics of and China Federation of Logistics and Purchasing on May 1st, PMI of Chinese manufacturing industry was 50.1% in April dropped slightly 0.1 percentage points. PMI of steel and non-ferrous industries goes up to more than 50%.

MPI's comments: PMI of Chinese steel industry was 57.3% in April 2016 increased by 7.6 percentage points month-on-month, which hit the highest level since March 2013. Although domestic steel demand is improving, the steel price is possible to decline due to accelerated growth of new steel capacity.

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