The local prices are expected to be released soon, stay tuned!
Got it
+86 021 5155-0306
Language:  

[SMM Steel Market Morning News] National Bureau of Statistics (NBS): The manufacturing PMI for February was 50.2%, up 1.1 percentage points from the previous month.

  • Mar 02, 2025, at 11:40 pm
Data from the National Bureau of Statistics (NBS) showed that in February, the manufacturing PMI was 50.2%, up 1.1 percentage points from the previous month, indicating a significant rebound in manufacturing activity. By enterprise size, the PMI for large enterprises was 52.5%, up 2.6 percentage points from the previous month and above the threshold; the PMIs for medium-sized and small enterprises were 49.2% and 46.3%, respectively, down 0.3 and 0.2 percentage points from the previous month, both below the threshold.
★ Macro ★ 01 ★★ 【UK Prime Minister: UK, France, and Other Countries to Collaborate with Ukraine on a Plan to Resolve the Russia-Ukraine Conflict】 UK Prime Minister Keir Starmer stated that the UK will collaborate with France and several other potential countries, along with Ukraine, to formulate a plan to resolve the Russia-Ukraine conflict. On March 1 local time, Ukrainian President Volodymyr Zelensky met with UK Prime Minister Starmer in London. Additionally, Starmer previously proposed holding a meeting in London on March 2 for consultations, which will be attended by over ten European national and EU leaders, as well as Zelensky. According to a statement released by the Canadian Prime Minister's Office on March 1 local time, Canadian Prime Minister Justin Trudeau will also attend the meeting. 02 ★★ 【National Bureau of Statistics: February Manufacturing PMI at 50.2%, Up 1.1 Percentage Points MoM】 Data from the National Bureau of Statistics (NBS) showed that in February, the manufacturing PMI stood at 50.2%, up 1.1 percentage points MoM, indicating a significant rebound in manufacturing activity. By enterprise size, the PMI for large enterprises was 52.5%, up 2.6 percentage points MoM, above the threshold; the PMIs for medium-sized and small enterprises were 49.2% and 46.3%, respectively, down 0.3 and 0.2 percentage points MoM, both below the threshold. 03 ★★ 【PBOC and Four Other Departments: Promote the Improvement of Financing Support Mechanisms to Address Financing Challenges for Private Enterprises】 On February 28, the People's Bank of China (PBOC), the All-China Federation of Industry and Commerce, the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly held a symposium on financial support for the high-quality development of private enterprises. The meeting emphasized the need for enhanced coordination to promote the improvement of financing support mechanisms, addressing the challenges of difficult and expensive financing for private enterprises, and creating a better development environment for them. Local federations of industry and commerce should fully play their role as bridges and assistants, deepen research, build connection platforms, and work with financial regulatory authorities and institutions to improve the accessibility and convenience of financing for private enterprises. Private enterprises should strengthen independent innovation, improve governance structures, prioritize credit management, enhance risk control, and steadfastly pursue high-quality development. 04 ★★ 【Egypt and Palestine Discuss Gaza Reconstruction Plan】 On March 1, the Egyptian Cabinet issued a statement saying that Egyptian Prime Minister Mostafa Madbouly met with a Palestinian delegation in Cairo to discuss an early recovery and reconstruction plan for the Gaza Strip proposed by Egypt. Madbouly stated that the plan aims to ensure that the Palestinian people continue to reside in the Gaza Strip. The statement noted that the Palestinian delegation was led by Prime Minister and Foreign Minister Mohammad Mustafa. During the talks, Madbouly reiterated Egypt's support for the legitimate rights of the Palestinian people, particularly their right to self-determination and the establishment of an independent state. Madbouly emphasized that the early recovery and reconstruction plan for Gaza proposed by the Egyptian government would ensure the Palestinian people's continued presence in the Gaza Strip. Mustafa expressed appreciation for Egypt's efforts in supporting the Palestinian people. According to the statement, once the Gaza reconstruction plan is finalized, it will be submitted to the Arab League's emergency summit on the Palestinian issue scheduled for March 4. 05 ★★ 【Agenda for the National Committee of the Chinese People's Political Consultative Conference Announced】 The 10th meeting of the Standing Committee of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), held on March 1, decided that the third session of the 14th CPPCC National Committee will convene in Beijing on March 4, 2025. The proposed main agenda includes: hearing and reviewing the work report of the Standing Committee of the CPPCC National Committee and the report on the handling of proposals since the second session of the 14th CPPCC National Committee; attending the third session of the 14th National People's Congress of the People's Republic of China as non-voting delegates to hear and discuss the government work report and other related reports. 06 ★★ 【Israeli PM: Will Return to Gaza for Combat If Negotiations with Hamas Fail】 Israeli Prime Minister Benjamin Netanyahu stated during a weekly cabinet meeting that Israel, in coordination with US President Donald Trump and his staff, proposed extending the first phase of the ceasefire agreement with Hamas by an additional 50 days. He noted that this extension was suggested by US Middle East envoy Steven Whitcoff after realizing that the parties could not agree on entering the second phase of the agreement. Netanyahu said that if Hamas agrees to extend the first-phase ceasefire, Israel will immediately begin negotiations; if it becomes clear that negotiations are ineffective, Israel will be allowed to return to Gaza for combat. Netanyahu also warned that if Hamas does not release more detainees, there will be "further consequences." ★ Industry and Downstream ★ 01 ★★ 【Ministry of Housing and Urban-Rural Development: Improve Urban Accessibility Facilities and Coordinate Aging-Friendly Facility Construction】 According to the Ministry of Housing and Urban-Rural Development, local governments are required to further improve urban accessibility facilities and coordinate the construction of aging-friendly facilities, creating a safe, convenient, continuous, inclusive environment. The ministry emphasized that for new, renovated, or expanded residential buildings, residential areas, public buildings, public spaces, and urban roads, accessibility facilities must be constructed simultaneously with the main part of the project and effectively connected with surrounding accessibility facilities. Additionally, construction and design units are encouraged to adopt advanced concepts and technologies to build humanized, systematic, intelligent accessibility facilities that harmonize with the surrounding environment. In terms of upgrading accessibility facilities, priority will be given to adding elevators to existing multi-story residential buildings in old urban communities. Adding elevators to pedestrian bridges and underpasses in main roads, commercial areas, and large residential areas is also encouraged. 02 ★★ 【Hangzhou's February Second-Hand Housing Trading Volume Down 1.4% MoM, Up 135% YoY】 According to data released by Beike today, Hangzhou's February second-hand housing online signed volume reached 5,977 units, with trading volume down 1.4% MoM and up 135% YoY. In terms of transaction prices, the average price of second-hand residential properties in February was 29,500 yuan/m², down 3.4% MoM and 0.7% YoY. 03 ★★ 【Top 100 Enterprises' Land Acquisition Total Up 26.7% YoY in First Two Months】 The China Index Academy recently released the "2025 January-February National Real Estate Enterprises Land Acquisition TOP100 Ranking," showing that key real estate enterprises recorded positive YoY growth in total land acquisition. From January to February 2025, the total land acquisition by the TOP100 enterprises reached 199.86 billion yuan, up 26.7% YoY. The land market showed signs of recovery, with the "opening red" trend continuing, and the total land acquisition by the TOP100 enterprises achieving double-digit YoY growth. In terms of new value, China Resources Land, Poly Developments, and China Jinmao ranked as the top three. ★ Other Hot Topics ★ ⭕ 【CITIC Securities: China's Core Assets Expected to Usher in a Spring】 CITIC Securities' research report stated that looking ahead to spring, as policies advance and intensify in three major areas, confidence recovery will gradually spread from the technology sector to the economic sector. The US's increased restrictions on China may pose the biggest challenge to the market this spring but could also serve as a litmus test for comprehensive confidence recovery. China's new growth tracks are emerging, with new core assets possessing market capitalization potential in the hundreds of billions of US dollars expanding, while approximately 30% of leading companies in traditional tracks are gradually reaching operational turning points. The Hong Kong stock market remains in its early stages, while the previously relatively stagnant A-share core assets are accelerating to exit the market. In the future, the GARP strategy may take over from the extreme elasticity strategy. CITIC Securities believes that after comprehensive confidence recovery, the differentiation between "good companies" and "ordinary companies" will far exceed that between "good industries" and "ordinary industries." ⭕ 【BYD: NEV Sales Reached 623,400 Units in First Two Months, Up 92.52% YoY】 BYD (002594.SZ) announced that its NEV sales in February reached 322,800 units, with cumulative sales for January-February totaling 623,400 units, up 92.52% YoY. ⭕ 【Vietnam PM Holds Talks with Representatives of Chinese Enterprises】 On February 28, Vietnamese Prime Minister Pham Minh Chinh hosted a meeting with representatives of Chinese enterprises, attended by Deputy Prime Ministers Ho Duc Phuc and Nguyen Chi Dung, as well as heads of relevant government departments. Ambassador He Wei, along with representatives from the General Chamber of Commerce and Chinese enterprises, also participated. He Wei highly praised the achievements of the China-Vietnam community of shared destiny and called for joint efforts to expand cooperation for the benefit of both peoples. Chinese enterprises shared their experiences and challenges in Vietnam, expressing confidence in China-Vietnam cooperation and the Vietnamese market, and hoped for more policy support and investment facilitation from the Vietnamese government. Pham Minh Chinh instructed relevant departments to respond to the demands of Chinese enterprises one by one, reiterated Vietnam's commitment to optimizing the business environment, and stated that the Vietnamese government is mobilizing all resources to promote high-speed and sustainable economic growth. He emphasized that Vietnam-China pragmatic cooperation is characterized by "you in me, and me in you," and expressed hope that Chinese enterprises would consider Vietnam a hotbed for investment, working together to create a new mutually beneficial cooperation framework aligned with the "six more" goals and the "comrades plus brothers" relationship. ⭕ 【"Lujiazui Financial Salon" Series Officially Launched to Contribute Wisdom and Strength to China's High-Quality Financial Development】 This morning, the highly anticipated "Lujiazui Financial Salon" launch ceremony was grandly held at the Shanghai Tower. Attendees included Li Zheng, Member of the Standing Committee of the Shanghai Municipal Party Committee and Secretary of the Pudong New Area Party Committee; Wu Jincheng, Deputy Secretary-General of the Shanghai Municipal Government and Deputy Secretary of the Pudong New Area Party Committee and District Mayor; Zhou Xiaoqian, Executive Deputy Director of the Shanghai Municipal Financial Work Bureau; Fang Shizhong, Deputy Director of the Shanghai Municipal Publicity Department and Secretary, Director, and Editor-in-Chief of Shanghai Media Group (SMG); and Li Yun, Secretary of the Party Committee and President of Shanghai United Media Group. Over 120 representatives from relevant government departments, financial markets, financial institutions, industry associations, and enterprises attended the event. It is reported that the "Lujiazui Financial Salon" will establish a regular exchange platform in alignment with the "Lujiazui Forum," linking global resources and continuously delivering "Pudong wisdom" in financial reform through institutionalized, scenario-based, and internationalized operations, contributing wisdom and strength to China's high-quality financial development.
  • Selected News
  • Construction steel
  • HRC
  • Steel scrap
  • Other steel materials
  • Cold rolling
  • Coating and plating
Live chat via WhatsApp
Help us know your opinions in 1minutes.