China’s manufacturing industry expected to be optimistic in April
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Update time : 2023-03-31 16:36:04
In April, the structural steel inventory of the downstream buyers was expected to stay at a low level. The daily consumption would increase by 2.74% from the previous month. The structural steel demand from projects in each China area would be stable.
For the machine industry, the overall orders in April were expected to be optimistic, but the resumption was still slow. Most market participants still took a wait-and-see attitude. Meanwhile, China’s home appliance industry’s orders would slightly increase due to China’s stimulated policies and the real estate industry recovery.
Regarding China’s automobile industry, 36.84% of the total automobile industry reported that their orders increased in April compared to the volume in March. The government subsidy made automobile consumption gradually resume.
With entering the peak season in March and April, the operation of projects will speed up. The marginal cost of steel mills improves, and raw material prices maintain high. As a result, China’s manufacturing industry in April was forecasted to perform well.
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