Factors affecting steel prices
Poor development of manufacturing industry
National Bureau of Statistics: China's manufacturing purchasing managers' index was 49.2% in October, down 0.9 percentage points from the previous month and below the critical point. After rising for 2 consecutive months from the previous month, the index fell again, showing that the trend of the index has fluctuated, and the momentum of economic recovery still needs further stabilization. From the industry point of view, 11 of the 21 industries surveyed are in the expansion range, and the overall stability of the manufacturing boom surface.
Analysts' view: From the data, it can be seen that manufacturing production and market demand boom have fallen, affected by the epidemic attack and the global economic downturn, capital investment is expected to decline, poor capital circulation, and high prices at the cost end, the pressure on production and operation of small and medium-sized enterprises has increased, the overall production and operation activities of enterprises have slowed down, and the demand for steel has weakened, which is negative for steel price trend.
Steel companies lowered 110% on coke
Tangshan individual steel enterprises coke at 8:00 tonight to implement the first round of price cuts, wet quenched coke down 100 dry quenched coke down 110, Tangshan quasi-class coke down after the price of 2610-2620 yuan / ton.
