Stainless steel - easy to rise but difficult to fall in the short term
Domestically, Caixin China's manufacturing PMI fell 1.5 percentage points to 51.5 in January 2021, the lowest since July 2020, but it is still in the expansion range for the ninth consecutive month. The supply and demand of manufacturing industry continued to expand, but the speed slowed significantly; The overseas epidemic has repeatedly led to the reduction of orders of foreign trade enterprises, which has significantly curbed foreign demand. China's official manufacturing PMI in January was 51.3, expected to be 51.3, and the previous value was 51.9; Non-manufacturing PMI was 52.4, down from 55.7, the second consecutive month of decline; The PMI of the service industry was 52.4, with the previous value of 55.7, the largest decline since February last year. In December 2020, the CPI rose to 100.2, with a year-on-year increase of 0.2%.
Overseas, many countries strengthened epidemic control. The US House of Representatives approved the budget coordination plan of the COVID-19 Relief Act. At the beginning of February, the Federal Reserve frequently mentioned the reduction of bond purchase, and market concerns rose.
On the whole, domestic consumption is still the "ballast stone" of stable economic operation, import and export performance is eye-catching, and the domestic economy is gradually getting rid of the impact of the epidemic, and the overall situation is improving. Overseas, monetary policy in Europe and the United States continues to be loose, and the European Central Bank intends to raise the expectation of interest rate reduction. The expectation of fiscal stimulus of the Biden government still exists, and the market is still optimistic.
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