INDUSTRY NEWS
Tinplate spot market prices stabilize temporarily
From the perspective of the PMI of the steel industry, the PMI in September was 43.9%, a decrease of 3.1 percentage points from August. The sub-indices show that the demand for tinplate market has fallen short of expectations, steel production has fallen correspondingly, the rise in raw material prices has slowed down significantly, and the steel market as a whole shows a pattern of sluggish peak seasons. However, companies still have expectations for the market outlook, and their raw material procurement and inventory are steadily rising. It is expected that in October, there is still room for market demand to rise, and steel mills' production will pick up in the short term, but the total output in the fourth quarter may decline compared to the previous quarter.
In the third quarter, affected by the epidemic, overall market demand was flat. At present, the impact of the domestic epidemic is basically under control, the economy is in a stage of rapid recovery, and the economic order is basically normal. It is expected that although the tinplate market demand in the fourth quarter is uncertain, there is still room for growth. On the one hand, the manufacturing industry is recovering well and the demand for steel is continuously released; on the other hand, there is uncertainty in the real estate market.
For the steel market, it will obviously also reduce the market's expectations for the performance of the demand side. But overall, the market demand in the fourth quarter is still dominated by an increase.
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