Orders for Nickel Wire and Nickel Mesh Increased with Final Reading of PMI Staying in Expansion Range

SHANGHAI, February 1 (SMM) - The final reading of PMI for nickel wire and nickel mesh industry was 50.11. The nickel wire and nickel mesh industry picked up in January. According to SMM research, the index for supplier delivery time was low as the logistics services were halted during the Chinese New Year holiday. In addition, affected by the declining nickel prices in the first ten days of January, nickel wire and nickel mesh enterprises carried out a significant restocking. Coupled with the pre-holiday restocking, the raw material inventory index increased significantly. In terms of production, nickel wire and nickel mesh enterprises produced in shift during the CNY holiday to ensure the normal output. In February, the domestic economy is expected to improve, and the state's support for real estate policies has increased. As such, it is expected that the new order index and production index will also perform strongly and the PMI in February will still stay in expansion range.