SMM: recently, Hebei Metallurgical Industry Association released data: in March, our province (Hebei Province) iron and steel industry PMI for 44.3%, up 6.2 percentage points from the previous month.
In March, the index of new orders was 41.7%, up 11.3% from the previous month. Due to the continuous improvement of the domestic epidemic situation and the gradual appearance of the effect of the early state support policy, the resumption of production in the main steel industry has been significantly accelerated, and the demand for downstream steel has been greatly improved. The index of new export orders was 34.8%, down 3.4 percentage points from the previous month. Due to the spread of the epidemic abroad, steel exports have become more difficult. The output index was 42.2%, up 3.9 percentage points from the previous month. The inventory index of finished wood was 42.8%, down 19.6% from the previous month. Due to the expansion of demand and smooth transportation and the sharp reduction of transportation costs, the inventory of finished materials in Hebei iron and steel enterprises began to rise and fall. According to statistics, at present, the steel inventory of key iron and steel enterprises in Hebei has gradually returned to normal.
The raw material inventory index was 40.5%, up 12.3 percentage points from the previous month, and the raw material purchase price index was 48.8%, down 3.5 percentage points from the previous month. Due to smooth transportation and production recovery, steel mills appropriately increase the replenishment of raw materials, steel plant raw material inventory has increased. The cost of raw materials is stable to support the steel price as a whole, the steel profit has been repaired, and the average profit of steel fluctuates between 150 and 200 yuan.
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