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Print[Ferro-alloys.com] Data of manufacturing PMI (manufacturing purchasing managers' index) and export of August released recently were much better than those of July. Meanwhile, local government announced electricity usage of August one by one, most of which increased much month-on-month. Electricity usage of Jiangsu, Hubei and Henan increased by 20% respectively, rising by 30% in Auhui. There were signs that industrial electrical demand was growing fast.
National Energy Administration would release overall electricity usage of August around September 15th. According to recent statistics, overall power consumption was expected to achieve double-digit growth.
However, it was still not certain whether national economy was recovering significantly. As temperature dipped, electricity usage of early September had dropped much month-on-month. In some regions, the consumption was as low as that of May this year. Several officers of local power companies disclosed that electricity usage growth of August had much to do with the high temperature. Economy recovery helped the growth, but not much. Meanwhile, electricity demand of high energy-consuming industry was still weak. It remains to be seen whether macro economy could usher a big rebound.
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