中国磷化工月报

Welcome to CCM's new issue of Phosphorus Industry China Monthly Report of April 2013.
 
With the release of a series of macro economic data from March and Q1 2013, we can see the improvement of China's economic environment. China's manufacturing PMI rose to a 11-month high in March 2013. New lendings saw a great increase in March. In the meantime, the inflation data began to show a downtrend in March. Furthermore, the foreign trade growth is significantly higher in Q1 2013 than the average growth in 2012. However, it's still noteworthy that the recovery in the recent half year is not a patch on that in 2009.  

Unfortunately, China's upbeat macro data in March didn't drive up the domestic phosphorus chemical industry, which continued to maintain the gloomy prospect of last month, reflecting the weakening price and decreasing sales.

Average exchange rate in March 2013, USD:RMB=1:6.27