Machinery industry in domestic recovery economy
Mechanical industry: overall, forged chain may recover the data shows that demand in the economy. 2009 1 ~ 5 months, machinery industry (excluding cars) of the total industrial output growth for 7.7%, 1 ~ April 7.5% growth rate, the promotion is mainly domestic demand. Exports are still weak, 2009 in 1 ~ 5 mechanical industry (excluding cars) export value were 21% year-on-year drop in 2009, 1-4 in 20% drop further.
Engineering machinery industry: benefit from domestic fixed asset investment growth, although 1 ~ 5 month engineering machinery products sales, but is still negative year-on-year than 1 ~ April, is narrow, Look ahead, we think, short-term, June sales growth is expected to rise further, The fourth quarter, middle if real estate market in concrete realization, as a representative of the mechanical engineering machinery will significantly benefit, Railway equipment industry: by railway freight transportation demand, railroad freight production downturn year-on-year drop greatly decreased, 5 months was 76.5%, At mor to the replenishment, yield under the strategic growth, 287.7% stronger-than-expected. Locomotive, first inter-korean car locomotive products in product generation stage, yield relatively small. In June, mor truck, car has begun to tender south locomotive also gradually into three stages, is expected to deliver and the second quarter will gradually improve conveyor parts and locomotives.
Shipbuilding industry: 1 ~ 5 months, global shipbuilding industry continuing malaise, under the influence of Chinese shipyard, new signing single continue hovering at the bottom, the total amount of new signing single drop 99%. Owing to the ship into a relatively stable quantity, China shipbuilding orders with declining. From September 2008, the three new ship hull, clinch a deal the price May 2009, though slowing drop ship price since early, but because the new global ship made almost stalled, market price movements of the index is relatively limited significance.
Heavy conveyor parts: 2009 quarter, steel industry investment in fixed assets dropped 6.4% year-on-year. Downstream demand shortages 09 3 ~ 4 months metal smelting equipment production year-on-year drop. Since may enter and steel industry investment in fixed assets is restored, 2009 in 1 ~ 5 investment growth is restored to 0.2%. But the 2009 March metal metallurgical equipment production year-on-year growth also appeared. While mining investment in fixed assets and mining equipment is maintained growth. Now the market order of metallurgical equipment slump has been expected, taiyuan dhi valuations in machinery industry is also relatively low in 2009 (19 times earnings PE, mechanical enterprises median 22 times). Looking to the future, in macroeconomic expected optimism conditions, gradually some planning project of large steel within the capacity and steel backward technology project will gradually implement, metallurgical equipment requirements are expected to have.
