Steel prices rose to promote the September PPI reach since 6 months new high

National Bureau of Statistics released on the 16th data shows that in September PPI rose 6.9%, up 0.6 percentage points compare with last month, reaching a new high of 6 months. PPI chain rose 1%, also rose 0.1 percent last month, and for three consecutive months of positive growth. In the major industries, the increase in ferrous smelting and rolling processing increased by 31.5%, over the same period of last year. Nonferrous metal smelting and rolling processing increased by 20.2%.

Shandong Province issued in 2017 the steel industry to resolve the excess capacity of the announcement, as of the end of September 2017, Shandong Province to the production capacity of equipment have all shut down, to complete the task to the production capacity. 2017 in Shandong Province to resolve excess capacity pig iron 1.75 million tons, crude steel 5.27 million tons.

(China Metallurgical News) According to China Steel Association statistics, in the end of September 2017, members of steel enterprises crude steel daily average output of 1.871 million tons, the chain increased by 21,000 tons, an increase of 1.13%; the national average daily output estimate of 2.441 million tons, the chain increased by 22,800 tons, an increase of 0.95%. Since the end of September, members of the steel stocks for the 12.2111 million tons, the chain reduced by 63.22 million tons, an down of 4.92%.

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