Iron ore market report for August 2013
2013-09-17 14:53:36 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Financial review
1.1 In line with generated capacity and prices in middlecrop industries in August, the PMI registered appreciation which beyond what was expected, so the periodical rebound of economy could be expected, but the persistance was still doubtful. The government kept standing the slower economic growth but the monetary policies failed to ease further, and the real industries could be infected by the tightening social financing which reduced by over RMB200 billion month on month in July, leading to a more severe financing environment; Bank portfolio resumed to balance structurely with over 90% of RMB loans, indicating taht the tightened inspection and management of shadow banking system was working. The credit expantion stabilized the economy in H2, 2012. Besides, the tightned limit of social financing and outflow of superpositioned finance would influence real industries.
1.1 In line with generated capacity and prices in middlecrop industries in August, the PMI registered appreciation which beyond what was expected, so the periodical rebound of economy could be expected, but the persistance was still doubtful. The government kept standing the slower economic growth but the monetary policies failed to ease further, and the real industries could be infected by the tightening social financing which reduced by over RMB200 billion month on month in July, leading to a more severe financing environment; Bank portfolio resumed to balance structurely with over 90% of RMB loans, indicating taht the tightened inspection and management of shadow banking system was working. The credit expantion stabilized the economy in H2, 2012. Besides, the tightned limit of social financing and outflow of superpositioned finance would influence real industries.
