Steel billet market report July 2011
2011-08-05 09:38:51 【Print】
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1. Finance and economics analysis:
1.1 Central Bank lifted interest rate by 0.25%: structural readjustment in currency regulation and control. On the evening of July 6, the Central Bank decided to lift the benchmark interest rate for savings of financial institutions on July 7, 2011. Financial institutions lifted the benchmark interest rate for savings in a year by 0.25%, which was the fifth time of lifting the interest rate since the October, 2010. After adjustment, the benchmark interest rate for savings in a year in financial institutions were 3.50%% and 6.56%.
1.2 According to the data released by State Statistics Bureau, GDP in H1 totaled 20.4459 trillion, up by 9.6% year on year by fixed price. GDP in H1 went up by 5.4% year on year. The output of crude steel, pig iron and steel in H1 reached 350.54 million tons, 324.58 million tons and 437.41 million tons, up by 9.6%, 8.4% and 12.8% year on year. The output of crude steel, pig iron and steel in H1 reached 59.53 million tons, 54.89 million tons and 78.73 million tons, up by 11.9%, 11.6% and 14.8% year on year. The average output of crude steel and steel per day in June were 1.998 million tons and 2.624 million tons, up by 2.8% and 6.5% month on month.
1.3 Central Bank stated that it invested RMB933 billion for 4 months and released the fifty-sixth Central Bank bill of 2011 on July 28(Thursday) with a usance of 3 months and circulation of RMB1 billion and 3.0801% of return rate, which was the fourth time to hold the interest rate level. RMB34 billion of funds were due this week. The Central Bank issued RMB1 billion of Central Bank Bill on Tuesday with that of RMB1 billion yesterday and the net capital invested was RMB32 billion this week. The net capital invested was RMB19 billion last week and reached RMB51 billion in these two weeks. According to the data, RMB232 billion of bills and RMB51 billion of buy-back were due in July, with a total capital of RMB372 billion. RMB107 billion of bills and RMB256 billion of buy-back were issued in July, with funds of return of RMB363 billion. The net capital invested was RMB9 billion in July for 4 months with a total capital of RMB933 billion.
1.1 Central Bank lifted interest rate by 0.25%: structural readjustment in currency regulation and control. On the evening of July 6, the Central Bank decided to lift the benchmark interest rate for savings of financial institutions on July 7, 2011. Financial institutions lifted the benchmark interest rate for savings in a year by 0.25%, which was the fifth time of lifting the interest rate since the October, 2010. After adjustment, the benchmark interest rate for savings in a year in financial institutions were 3.50%% and 6.56%.
1.2 According to the data released by State Statistics Bureau, GDP in H1 totaled 20.4459 trillion, up by 9.6% year on year by fixed price. GDP in H1 went up by 5.4% year on year. The output of crude steel, pig iron and steel in H1 reached 350.54 million tons, 324.58 million tons and 437.41 million tons, up by 9.6%, 8.4% and 12.8% year on year. The output of crude steel, pig iron and steel in H1 reached 59.53 million tons, 54.89 million tons and 78.73 million tons, up by 11.9%, 11.6% and 14.8% year on year. The average output of crude steel and steel per day in June were 1.998 million tons and 2.624 million tons, up by 2.8% and 6.5% month on month.
1.3 Central Bank stated that it invested RMB933 billion for 4 months and released the fifty-sixth Central Bank bill of 2011 on July 28(Thursday) with a usance of 3 months and circulation of RMB1 billion and 3.0801% of return rate, which was the fourth time to hold the interest rate level. RMB34 billion of funds were due this week. The Central Bank issued RMB1 billion of Central Bank Bill on Tuesday with that of RMB1 billion yesterday and the net capital invested was RMB32 billion this week. The net capital invested was RMB19 billion last week and reached RMB51 billion in these two weeks. According to the data, RMB232 billion of bills and RMB51 billion of buy-back were due in July, with a total capital of RMB372 billion. RMB107 billion of bills and RMB256 billion of buy-back were issued in July, with funds of return of RMB363 billion. The net capital invested was RMB9 billion in July for 4 months with a total capital of RMB933 billion.
