[SMM exclusive] in June, the PMI composite index of stainless steel industry was higher than expected, but the effect of going to storage was obvious.-Shanghai Metals Market

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[SMM exclusive] in June, the PMI composite index of stainless steel industry was higher than expected, but the effect of going to storage was obvious.

Translation 04:46:45PM Jul 02, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, July 2 / PRNewswire-Asianet /-

The final value of PMI composite index of stainless steel industry in June was 44.28%, which was lower than the line of prosperity and decline, almost the same as in May and 5.49% higher than the expected value. The production index in June was 40.04%, unchanged from May. The production of 300 series stainless steel is expected to shrink slightly in June, but the overall production reduction is not high. June product inventory index 49.22%, down 12.32% compared with May, is the most obvious change in the index, June stainless steel high price to inventory has a certain effect, although the transaction atmosphere is still flat, downstream demand changes little, but with the 300 series stainless steel itself production reduction and steel mill product structure, shipping strategy adjustment, 300 series stainless steel social inventory does have a certain decline. In June, the purchasing volume index was 50.81%, and the price of electrolytic nickel rose greatly within the month. Because of its relatively abundant supply of fundamentals, the price of electrolytic nickel did not rise sharply with the electrolytic nickel. Therefore, stainless steel plants in the total demand for nickel is basically maintained, the purchase preference of nickel iron is higher, while the spot purchase of electrolytic nickel is relatively depressed.

The initial value of PMI composite index of stainless steel industry in July is 45.95%, which is lower than the line of prosperity and decline, and is expected to change little compared with June. The initial value of the production index is 42.41%, and the new order index is 42.41%. Since the middle and late June of the traditional off-season, some stainless steel plants have begun partial maintenance, which has a certain impact on the output, and the downstream demand will also show a weakening trend. The initial purchase volume index for July is 50%, which is expected to change little compared with June. Although the output has changed slightly, it will not obviously affect the overall purchasing rhythm of stainless steel plants. Purchase price index 25.96%, six-month nickel price rise deviated from the fundamentals, after the withdrawal of futures bulls, stainless steel plants are more bearish on July nickel prices.

(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] in June, the PMI composite index of stainless steel industry was higher than expected, but the effect of going to storage was obvious.

Translation 04:46:45PM Jul 02, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, July 2 / PRNewswire-Asianet /-

The final value of PMI composite index of stainless steel industry in June was 44.28%, which was lower than the line of prosperity and decline, almost the same as in May and 5.49% higher than the expected value. The production index in June was 40.04%, unchanged from May. The production of 300 series stainless steel is expected to shrink slightly in June, but the overall production reduction is not high. June product inventory index 49.22%, down 12.32% compared with May, is the most obvious change in the index, June stainless steel high price to inventory has a certain effect, although the transaction atmosphere is still flat, downstream demand changes little, but with the 300 series stainless steel itself production reduction and steel mill product structure, shipping strategy adjustment, 300 series stainless steel social inventory does have a certain decline. In June, the purchasing volume index was 50.81%, and the price of electrolytic nickel rose greatly within the month. Because of its relatively abundant supply of fundamentals, the price of electrolytic nickel did not rise sharply with the electrolytic nickel. Therefore, stainless steel plants in the total demand for nickel is basically maintained, the purchase preference of nickel iron is higher, while the spot purchase of electrolytic nickel is relatively depressed.

The initial value of PMI composite index of stainless steel industry in July is 45.95%, which is lower than the line of prosperity and decline, and is expected to change little compared with June. The initial value of the production index is 42.41%, and the new order index is 42.41%. Since the middle and late June of the traditional off-season, some stainless steel plants have begun partial maintenance, which has a certain impact on the output, and the downstream demand will also show a weakening trend. The initial purchase volume index for July is 50%, which is expected to change little compared with June. Although the output has changed slightly, it will not obviously affect the overall purchasing rhythm of stainless steel plants. Purchase price index 25.96%, six-month nickel price rise deviated from the fundamentals, after the withdrawal of futures bulls, stainless steel plants are more bearish on July nickel prices.

(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