Iron Ore Market Report April 2014
2014-05-27 18:36:21 【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
1.1 Initial HSBC PMI recovers in April
HSBC China announced on April 23rd that the initial reading of HSBC Chinese Manufacturing PMI was 48.3%, down by 0.3% month-on-month. The reading had stayed below 50% for four consecutive months although it suspended the downward trend witnessed over the past five months.
Qu Hongbin, Chief economist at HSBC in China noted that the decrease of new orders including domestic and overseas demand slowed down, and new export order fell back to below 50% after a short-term increase, indicating slight improvement in domestic demand; output index increasing slightly suggested that the decline of manufacturing activity slowed down.
1.1 Initial HSBC PMI recovers in April
HSBC China announced on April 23rd that the initial reading of HSBC Chinese Manufacturing PMI was 48.3%, down by 0.3% month-on-month. The reading had stayed below 50% for four consecutive months although it suspended the downward trend witnessed over the past five months.
Qu Hongbin, Chief economist at HSBC in China noted that the decrease of new orders including domestic and overseas demand slowed down, and new export order fell back to below 50% after a short-term increase, indicating slight improvement in domestic demand; output index increasing slightly suggested that the decline of manufacturing activity slowed down.
