Recovery in Machinery Industry Slower than Expected

SHANGHAI, Mar. 22 (SMM) – The recovery in machinery industry was slow after the holiday. Steelease has confirmed that orders in machinery industry improved marginally in March, but the recovery was still slower than expected.

Machinery enterprises in north China and Shandong province reported mild recovery in orders, with consumption in inland regions rather disappointing. A major engineering machinery enterprise in Hunan cut its sales target for 2Q due to the unclear market outlook and poor orders at present.

Demand for hot-rolled coil and M&H plate serving to machinery industry was also depressed, which was particularly evident in M&H plate market, leaving little support to M&H plate prices.