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Half normal non-ferrous industry index four quarter running stabilization

2014-12-04
By China Nonferrous Metals Industry Association, the economic journal, industry research center by the National Bureau of statistics index China Economic Prosperity Monitoring Center recently jointly issued the report shows, in October of the nonferrous metals industry monthly boom index for 55.6, continue to maintain the normal interval, but the degree of industry boom continued to fall; in the nonferrous metals industry index 83.6, relatively on the month fell 1.2 percentage points; the coincident index was 95.2, down 1.4 percentage points compared to last month. As can be seen, maintain stable operation situation of Chinas nonferrous metals industry in general.
In the 12 indexes of nonferrous metal industry boom index, in the normal range of the 6 indicators, including the LME, commercial housing sales area, imports, ten kinds of non-ferrous metal production, power generation and the total profit; located in partial cold interval of 4 indicators, including automotive, appliance, nonferrous metal production yield investment in fixed assets and main business income; in cold interval is narrow money supply (M1); located in partial thermal interval is exports. Preliminary analysis of causes of exports, located in partial thermal interval is mainly due to exports of gold jewellery and parts exports surge in due.
In the 7 indexes of nonferrous metals industry leading index of 2 indicators on month growth rate of decline, the 3 indicators are negative growth. The LMEX index and the M1 growth ring than decreased by 0.63%, 0.14%; output of cars, home appliances and nonferrous metals combination of fixed asset investment growth ring than were -0.35, -0.43% and -0.29%.
Although in the nonferrous metals industry boom index continued to fall, but remained within the normal range. As the non-ferrous metals industry in general, in the current complex and volatile international situation, the three period superimposed pressure to highlight the situation of nonferrous metal industry, production and operation of the industry to maintain stable operation, especially the main metal products production to maintain stable growth of hard won.
In the four quarter, from the international environment, following the three quarter overall warming developed economies, emerging markets slowing economic growth, the emergence of new recovery pattern differentiation under the grand pattern, the geopolitical risks will remain for global economic growth to bring new uncertainty. At home, some bulk raw material prices decline range is big, the entity economy shows the overcapacity problem is still relatively prominent. From the domestic industrial production, power generation, investment and consumption entity economic indicators, and in new lending and money supply and total social financing and other financial indicators, the fourth quarter of the national economy will continue steady running state, but the possibility of not obvious rise.
In the state promulgated a series of micro stimulation and steady growth policy, the State Council recently deployed to promote consumption to expand and upgrade, put forward to aim at the diverse demand, reform and innovation, promoting consumption to expand and upgrade. Will this series of policies and measures on the nonferrous metals industry in the four quarter to actively promote the smooth operation of the effect.
In this regard, the analysis thinks, non-ferrous metals enterprises total profit though to positive growth trend, but not the main activities of declining profits change. On the one hand, the profit level of differentiation between enterprises is obvious, although the state-owned enterprises in general to achieve profitability, but some large state-owned enterprises loss situation has not been fundamentally changed; nonferrous metal is low, enterprise assets and output efficiency of main business income of 100 yuan in costs and financial costs are very high and accounts receivable side. On the other hand, aluminum smelting enterprises, although the September month profit, but to achieve a total turnaround is still great pressure; electrolytic aluminum production capacity surplus has not been fundamentally resolved, especially the recent price of domestic and international nonferrous metal markets such as copper, lead, nickel and other metal varieties prices concussion, gold and other precious metals prices fell sharply, these factors will be on the production and management of nonferrous metal enterprises adversely affect.

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