And Futures: steel market is not busy season of iron ore under downward pressure in client view the latest market Abstract: the market has been on the season performance have high expectations, steel spot prices are still high, but the actual performance is rebar social stock rose for seven consecutive weeks, August steel exports decline increased, display of internal and external demand, facing the stage to steel inventory pressure. At present, the domestic blast furnace operating rate is not high, crude steel production remained high, while the price of compressed steel spiral down profits, iron ore affected by the impact of price compression compression. The four quarter iron ore futures premium high excess pressure, also reflects the market expectations, the spot price increase the possibility to repair futures. 1 macro 1.1  domestic macroeconomic data in July RMB loans increased by 463 billion 600 million yuan, an increase of 1 trillion and 10 billion yuan less, June is $13800, July social financing scale increment of 487 billion 900 million yuan, the value of 168 million yuan, new loans and social financing fell more than 50%, hit a 14 year low since July. The residents of long-term loans increased by 477 billion 300 million, another point of view that corporate loan demand negative growth, domestic new investment only residential mortgage, entity financing needs of enterprises directly bring dismal domestic investment growth continued to decline, the lowest level for 16 years, private investment growth has been second months of negative growth. As private investment continued to slow down, the downward pressure on the economy in the long term is still great. 1.2  home sales fell in July home sales and sales area fell, 1-7 month sales of 57569 yuan of commercial housing, an increase of 39.8%, down by 2.3%. Sales area of 757 million 600 thousand square meters, an increase of 26.4%, down from last month’s 1.5%. Down the main reason by the first-tier cities turnover enthusiasm waned, the property market turnover cooling, and this year prices rose higher tier city also has issued limited market regulation policy loan purchase, expected late hot second tier city property market turnover will gradually cool down. 1.3  new housing starts decline, real estate investment is weakening again 1-7 months purchased land area fell by 7.8%, compared with 4.8% last month fell to expand. New housing area of 929 million 440 thousand square meters, an increase of 13.7%, the growth rate slowed by 1.2% for the third consecutive month of slowing down. Real estate investment grew 5.3%, the growth rate of the previous month fell 0.8% in July in a single month, an increase of 1.4%, down 2.1% from the previous month, mainly involved in the new housing construction area and real estate sales slowed from May’s highs, real estate investment weakening conduction. 1.4  commercial housing sale area reduced, the year continued destocking phase in 7 at the end of commercial housing sale area of 713 million 820 thousand square meters, an increase of 7.7%, 340 thousand square meters less than last month, a decrease of four consecutive months, the sale area decreased by 4 million 150 thousand square metres to 431 million 830 thousand square metres. As a result of the second and three or four tier cities real estate sales performance differences, the three or four tier cities facing high inventory.相关的主题文章: