SMM Steel Market Morning: Sept New Credit, Aggregate Financing Eye MoM Growth Amid YoY Declines

Publicado: Oct 10, 2024 07:40
[SMM Steel Market Morning News: New Credit and Aggregate Financing in September Are Expected to Achieve MoM Growth] As the release of September's financial data approaches, the industry generally anticipates MoM growth in new credit and aggregate financing for the month. Looking back at August, new credit amounted to RMB 900 billion, while aggregate financing increased by RMB 3,031.1 billion. Wang Qing, chief macro-analyst at Orient Credit Rating, predicts that new yuan-denominated loans in September will be approximately RMB 2 trillion, a significant seasonal MoM increase but a YoY decrease of approximately RMB 300 billion, primarily due to weaker financing demand from the real economy and a certain degree of continuity in the financial sector's "de-leveraging" efforts. Meanwhile, Wang Qing believes that new aggregate financing in September is expected to reach RMB 4 trillion, a seasonal MoM increase but a YoY decrease of approximately RMB 130 billion...

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