Steel scrap market report November 2011
2011-12-07 16:39:12 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Financial overview:
There was favorable news released this month that Central Bank announced to decrease financial institutions RMB deposit reserve ratio by 0.5% since December 5. RMB deposit reserve ratio for large-scale financial institutions dropped to 21% while that for small-and-middle scale financial institutions reached 17.5% with RMB396 billion of capital released this time. It was the first time for Central Bank to decrease deposit reserve ratio this year and the first time for the figure to drop in the past three years.
According to statement released by CLFP, PIM was 49.0% in November which decreased below 50% in general, down by 1.4% month on month. According to sub-items indexes, inventory index and import index of finished steel products increased by 2.8% and 0.3% in November compared with those of last month; while other indexes decreased as both new order index and export index decreased sharply by over 2% to below 50%.
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There was favorable news released this month that Central Bank announced to decrease financial institutions RMB deposit reserve ratio by 0.5% since December 5. RMB deposit reserve ratio for large-scale financial institutions dropped to 21% while that for small-and-middle scale financial institutions reached 17.5% with RMB396 billion of capital released this time. It was the first time for Central Bank to decrease deposit reserve ratio this year and the first time for the figure to drop in the past three years.
According to statement released by CLFP, PIM was 49.0% in November which decreased below 50% in general, down by 1.4% month on month. According to sub-items indexes, inventory index and import index of finished steel products increased by 2.8% and 0.3% in November compared with those of last month; while other indexes decreased as both new order index and export index decreased sharply by over 2% to below 50%.
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