Recovery in Machinery Industry Slower than Expected-Shanghai Metals Market

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Recovery in Machinery Industry Slower than Expected

Industry News 10:36:07AM Mar 22, 2013 Source:SMM

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.
 

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#1 Refined Cu
Nov.15
46935.0
-90.0
(-0.19%)
Standard-Grade Copper
Nov.15
46925.0
-90.0
(-0.19%)
High-Grade Copper
Nov.15
46955.0
-80.0
(-0.17%)
Guixi Copper
Nov.15
46965.0
-75.0
(-0.16%)
Low-Quality Copper
Nov.15
46870.0
-90.0
(-0.19%)

Recovery in Machinery Industry Slower than Expected

Industry News 10:36:07AM Mar 22, 2013 Source:SMM

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.