[SMM exclusive] May stainless steel industry PMI composite index is still below the line but better than expected-Shanghai Metals Market

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[SMM exclusive] May stainless steel industry PMI composite index is still below the line but better than expected

Translation 09:50:39PM May 31, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, May 31 / PRNewswire-Asianet /-

The final value of the PMI composite index for the stainless steel industry in May was 44.25%, lower than the withered line, improved from April, increased by 4.44%, and 7.79% higher than expected. On the whole, compared with expectations, stainless steel plants have reduced production and procurement by less than expected, but it is precisely because of the high operating rate, the pattern of oversupply of stainless steel is difficult to change, and its shipment situation continues to be poor. All the indexes are still significantly lower than the withered glory line. The production index in May was 40.04%, which was 7.92% higher than that in April and 7.21% higher than expected. During the month, some of the major southern factories carried out the production plan according to the production schedule, and some of the 3 series turned into 2 lines, and the output of the 3 lines decreased. The output of the third series of most other stainless steel plants changed little compared with April. In May, the new order index was 37.07%, and the product inventory index was 61.54%. Due to the fact that the high operating rate and downstream consumption still failed to match, under the pattern of oversupply, the social inventory of stainless steel remained on the high side and did not improve significantly. Agents also have a relatively negative attitude towards receiving goods, and the overall situation of receiving orders in steel mills is not good. The purchasing index in May was 40.71%, mainly due to the reduction of the output of the third series of individual large plants, and the stainless steel plants were cautious about the purchase demand of primary nickel and increased the use of waste stainless steel under the weak market.

The initial value of PMI composite index of stainless steel industry in June was 38.79%, which was still lower than that of Kurong line. Overall, high inventories are difficult to digest and the downstream is gradually entering the off-season, the stainless steel market in June is difficult to improve. First of all, in terms of production, the initial production index in June is 30.43%, stainless steel shipments have not improved and the downstream is also gradually approaching the off-season, the possibility of enterprise output contraction still exists. The initial value of the new order index in May was 28.70%. Judging from the situation within the month, the attempt to push up the price of stainless steel plants has not been effective, and it is difficult for downstream demand to be further stimulated under the current surplus pattern. The initial purchase volume index in June was 42.08%. With the gradual production of ferronickel in Indonesia, the own nickel-iron resources in stainless steel plants became more and more abundant, and the external mining of primary nickel continued to shrink.

(for detailed data, please consult SMM, if you think it is valuable, please move your finger to help forward it! )

"Application for trial of PMI composite index report for downstream industries

Welcome to the big data-Ni team of Shanghai Color Network:

Shanghai Color Network big data-Ni Liu Yuqiao

Tel: + 86 21 5166 6804

Shanghai Color Network big data-Ni Gao Yin

Tel: + 86 21 5166 6865

Shanghai Color Network big data-Ni Duan Chunjing

Tel: + 86 21 5166 6896

Shanghai Color Network big data-Ni Wang Tong

Tel: + 86 21 5166 6855

Shanghai Color Network big data-Ni Wu Ruoyao

Tel: + 86 21 5159 5864

[SMM exclusive] May stainless steel industry PMI composite index is still below the line but better than expected

Translation 09:50:39PM May 31, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, May 31 / PRNewswire-Asianet /-

The final value of the PMI composite index for the stainless steel industry in May was 44.25%, lower than the withered line, improved from April, increased by 4.44%, and 7.79% higher than expected. On the whole, compared with expectations, stainless steel plants have reduced production and procurement by less than expected, but it is precisely because of the high operating rate, the pattern of oversupply of stainless steel is difficult to change, and its shipment situation continues to be poor. All the indexes are still significantly lower than the withered glory line. The production index in May was 40.04%, which was 7.92% higher than that in April and 7.21% higher than expected. During the month, some of the major southern factories carried out the production plan according to the production schedule, and some of the 3 series turned into 2 lines, and the output of the 3 lines decreased. The output of the third series of most other stainless steel plants changed little compared with April. In May, the new order index was 37.07%, and the product inventory index was 61.54%. Due to the fact that the high operating rate and downstream consumption still failed to match, under the pattern of oversupply, the social inventory of stainless steel remained on the high side and did not improve significantly. Agents also have a relatively negative attitude towards receiving goods, and the overall situation of receiving orders in steel mills is not good. The purchasing index in May was 40.71%, mainly due to the reduction of the output of the third series of individual large plants, and the stainless steel plants were cautious about the purchase demand of primary nickel and increased the use of waste stainless steel under the weak market.

The initial value of PMI composite index of stainless steel industry in June was 38.79%, which was still lower than that of Kurong line. Overall, high inventories are difficult to digest and the downstream is gradually entering the off-season, the stainless steel market in June is difficult to improve. First of all, in terms of production, the initial production index in June is 30.43%, stainless steel shipments have not improved and the downstream is also gradually approaching the off-season, the possibility of enterprise output contraction still exists. The initial value of the new order index in May was 28.70%. Judging from the situation within the month, the attempt to push up the price of stainless steel plants has not been effective, and it is difficult for downstream demand to be further stimulated under the current surplus pattern. The initial purchase volume index in June was 42.08%. With the gradual production of ferronickel in Indonesia, the own nickel-iron resources in stainless steel plants became more and more abundant, and the external mining of primary nickel continued to shrink.

(for detailed data, please consult SMM, if you think it is valuable, please move your finger to help forward it! )

"Application for trial of PMI composite index report for downstream industries

Welcome to the big data-Ni team of Shanghai Color Network:

Shanghai Color Network big data-Ni Liu Yuqiao

Tel: + 86 21 5166 6804

Shanghai Color Network big data-Ni Gao Yin

Tel: + 86 21 5166 6865

Shanghai Color Network big data-Ni Duan Chunjing

Tel: + 86 21 5166 6896

Shanghai Color Network big data-Ni Wang Tong

Tel: + 86 21 5166 6855

Shanghai Color Network big data-Ni Wu Ruoyao

Tel: + 86 21 5159 5864