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Steel industry waits for April |
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Creatime: 2019-9-24 |
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Yesterday, the steel industry had the highest gains, becoming one of the few sectors that received red. After a long winter, the steel industry has gradually felt a little bit springy since March. Some analysts pointed out that with the further release of seasonal demand in April, the fundamentals of the steel industry are expected to continue to improve, and industry profits are expected to achieve an overall recovery in the second quarter.
From the specific data, the domestic steel price index continued to rise by 0.26% last week, and has steadily increased by 3.71% since mid-February. The comprehensive index of iron ore decreased by 0.45%, and the price index of steel ore rose slightly. On the supply and demand side, the nation ¡¯s crude steel capacity utilization rate rose another 0.8 percentage points to 81.52% in mid-March, and dealer inventory fell for seven consecutive weeks. Monthly data shows that the social steel inventories in March have fallen for the first time since this year's high, reaching 18.28 million tons, which is 530,000 tons lower than in February, a 3% month-on-month decrease, and is flat year-on-year. The gross profit per ton of steel continued to improve in March. Shenyin Wanguo Research pointed out that the weighted simulated gross profit per ton of steel in March was 44 yuan per ton, up 75 yuan per ton from February, up 245% month on month, and down 72% year on year.
"At present, the trend of improvement in the industry's boom is basically established, and seasonal factors are the main driving force. However, the year-on-year situation has not been determined because the pull of housing starts in the same period last year was more obvious." Chen Li, an analyst at the steel industry of Huatai United Securities, pointed out .
Demand is the main driver of the recent boom. In March, the steel industry PMI index rose by 6.5 percentage points month-on-month to 49.3%. Among them, the new orders index rebounded sharply, returning to the 50% threshold, a 16.7 percentage point increase from February. The strong rebound of the PMI index, especially the new orders index, indicates that demand is expected to continue to pick up in the later period, and will further promote steel prices. (Daily Securities News)
This article comes from: Steel Pipe World
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