The Final Reading of the PMI in November Stood at 50.17 as Nickel Wire and Nickel Mesh Industry Improved

SHANGHAI, Nov 30 (SMM) - The final reading of PMI of nickel wire and nickel mesh industry was 50.17, above the 50-point mark. In November, the orders of nickel wire and nickel mesh industry increased slightly compared with October. The orders in October were poor as the operating rates of downstream textile enterprises and furniture enterprises declined amid the National Day holiday in October. In November, although the real estate industry did not recover significantly, the operating rates of downstream enterprises recovered due to the increase in working days. Therefore, the orders for nickel wire and nickel mesh increased.

It is estimated that the PMI of the nickel wire and nickel mesh industry in December will stand at 50.25. On December 5, the central bank announced that it will cut the RRR by 0.25% and release long-term funds of about 500 billion yuan. Meanwhile, the central bank and the China Banking and Insurance Regulatory Commission officially issued the Notice on the Financial Support for the Steady and Healthy Development of the Real Estate Market, which makes arrangements for real estate financing, financial services for "guaranteeing the delivery of buildings" and risk management for troubled real estate companies. Therefore, it is expected that in December, the real estate industry will improve and the nickel wire and nickel mesh industry will be boosted.