Steel market influencing factors
Excavator sales grow in November, project starts expected to increase
According to the statistics of 26 excavator manufacturing enterprises by China Construction Machinery Industry Association, 23,680 excavators of various types were sold in November 2022, up 15.8% year-on-year, including 14,398 domestic units, up 2.74% year-on-year; 9,282 units were exported, up 44.4% year-on-year. 244,477 excavators were sold from January to November, down 23.3% year-on-year; including 145,738 domestic units, down 43.7% year-on-year; 98,739 units were exported, up 64.9% year-on-year. 145738 units, down 43.7% year-on-year; exports of 98739 units, up 64.9% year-on-year.
Analysts view: With the macroeconomic policy boost, infrastructure and real estate projects to increase funding support, market investment is expected to improve, while excavators as a barometer of the start-up project, from excavator sales data can be seen, whether domestic or foreign November sales data are year-on-year growth, especially export data is bright, reflecting the improvement of the epidemic, export orders gradually increased. The start-up rate is expected to accelerate, steel demand is expected to pull up, favorable steel price trend.
Steel production and inventory increase
According to statistics, this week, the five major varieties of steel production 9,394,900 tons, an increase of 145,900 tons week-on-week, total steel inventory 12,880,200 tons, an increase of 62,000 tons week-on-week, of which steel mills inventory 4,309,800 tons, an increase of 12,500 tons week-on-week, social inventory 8,570,400 tons, an increase of 49,500 tons week-on-week.
