This week: Europe fear the British off the US economy sound operation, as well as the weak May employment growth and sluggish business investment, the Fed kept interest rates unchanged. US June ADP employment increased by 172,000, an increase higher than expected 160,000. May trade deficit widened to $ 41.1 billion, higher than expected, due to rising crude oil prices, pushing up the amount of imports, while exports are still subject to the lingering impact of the strong dollar limit. July 2, when claims for unemployment benefits slightly higher than expected, the highest since mid-April, the lowest level. Eurozone June manufacturing PMI final value of 51.5 the previous month rose to 52.8; June services PMI final value fell to 52.8 from 53.3, the lowest since January 2015. Japan May core CPI fell 0.4 percent, the largest decline since April 2013 maximum. China: the new China Finance June services PMI rose to 52.7 percent, rebounded 1.5 percentage points higher than in May, the highest in nearly a year to a new high. China’s foreign exchange reserves in June $ 3,205,162,000,000, an increase $ 13.426 billion the previous month. The central bank this week in the open market to achieve a continuous net capital return. Thus, to July the central bank in the open market, the cumulative net return of funds of more than 700 billion yuan. Baosteel Zhanjiang steel project II ignition blast furnace will be July 15. 6, cold-rolled steel base in Rizhao project started. Sichuan Yajian 2017 crude steel production capacity of 4.2 million tons. Development and Reform Commission said that this year the railway construction investment holding more than 800 billion yuan.
This week long products index was 99.91 points, compared with the previous week rose 2.53%. This week, construction steel market prices continue to rise sharply, Shanghai, Hangzhou, Beijing, Tianjin, Chongqing and other 24 cities rose 20-180 yuan / ton; where Beijing and Tianjin, Shenyang, Chongqing, Xi’an and other market prices rose over hundred dollars.
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Otai Special Steel was established in 1999 to provide a wide range of high quality steel to the global market. Despite many huge merger deals in the industry, we remain a friendly, family business. We pride ourselves on our impeccable quality and service.
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