Iron ore market report for Sep 2013
2013-10-18 13:33:39 【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
The final value of HSBC PMI of China’s manufacturing industry was 50.2% in September and was expected to equal the initial value of 51.2% which peaked in the past six months. The data indicated steady economic growth and declined possibility of the government issuing some stimulus. Finance in domestic market in Q4 tightened and words of banks suspending house loan came out from many regions before the National Day. Downstream industries resuming operation and pressures on steel mills from payment collection hindered steel prices’ recovery. The financial situation was expected to improve in October within limited range.
The final value of HSBC PMI of China’s manufacturing industry was 50.2% in September and was expected to equal the initial value of 51.2% which peaked in the past six months. The data indicated steady economic growth and declined possibility of the government issuing some stimulus. Finance in domestic market in Q4 tightened and words of banks suspending house loan came out from many regions before the National Day. Downstream industries resuming operation and pressures on steel mills from payment collection hindered steel prices’ recovery. The financial situation was expected to improve in October within limited range.
