Coke Market Report September
2013-10-16 17:19:07 【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 review
1.1 Initial value of HSBC PMI better than expected
The final value of PMI of China’s manufacturing industry in September, released by HSBC was 50.2%, almost the same with the initial value of 51.2% which was the highest in recent six months. Data show that economic growth levels off, indicating weakening possibility of the government announcing stimulating policies. Funds tightened in China in Q4, and many banks had suspended house loan before the National Day, weighing on the operation of downstream industries and capital withdrawal in steel market, which is unfavorable to the recovery of steel prices. Capital is anticipated to pick up in October, while at a limited pace.
1.1 Initial value of HSBC PMI better than expected
The final value of PMI of China’s manufacturing industry in September, released by HSBC was 50.2%, almost the same with the initial value of 51.2% which was the highest in recent six months. Data show that economic growth levels off, indicating weakening possibility of the government announcing stimulating policies. Funds tightened in China in Q4, and many banks had suspended house loan before the National Day, weighing on the operation of downstream industries and capital withdrawal in steel market, which is unfavorable to the recovery of steel prices. Capital is anticipated to pick up in October, while at a limited pace.
