本周大盘大跌4.63%，一级子行业无一上涨，家电消费领跌，中信钢铁板块下跌3.81%，整体表现好于大盘。但柳钢股份等之前强势股跌幅较大，也表明在政治局会议和国常会明确政策边际从“紧”转“稳”，钢铁是确定性受益板块后，市场仍然信心不足。价格方面可谓是上涨韧性十足。贸易战升级，股市大跌的宏观大环境也开始对黑色的小环境产生明显影响。

年初至今，商品跌多涨少，铜、锌年初便出现下行拐点，顶点至今累计下跌11.42%、16.52%，更有铝、铅、橡胶及铁矿石早在2017 年3 季度就已见顶，顶点至今跌幅更加显著，唯独螺纹钢年初至今上涨10.36%。商品类似表现也曾出现在2011 年，彼时螺纹钢上半年也曾一枝独秀。不过，当年8 月后，螺纹钢便直线下行。

7 月，川财金属材料指数上涨6.42%，沪深300 上涨0.19%。本月钢铁版块涨幅较大，月内流动性相对充裕、市场风险偏好上行及市场对钢企高盈利可持续信心较强等综合因素促使版块上行。行业基本面持续向好，需求端，房地产三四线城市赶工支撑钢铁短期需求，长期需求则受益于国常会“稳基建投资”有望更加坚挺；供给端环保扰动仍存，唐山限产将维持至8 月底，汾渭11 城将于8月迎来第二阶段“环保回头看”活动，届时区域内钢厂也有限产可能，后续钢铁供给紧张局面或将加剧，钢材价格有望继续维持高位。

The metal injection molding market was valued at USD 2,162.6 million in 2015 and is expected to reach USD 6,522.4 million by 2025, growing at a CAGR of 11.9% from 2016 to 2025. The metal injection molding technique is preferred as it can manufacture a large quantity of components with accurate mechanical properties at a low cost. The process avoids expensive secondary operations, maintains high product tolerance levels, and provides excellent surface finishes.

Metal finishing chemicals market has been segmented based on product, process, application and region. Key product segments include plating chemicals, cleaning chemicals, conversion coatings and other products (proprietary chemicals, sprays). Metal finishing chemicals are used to impart surface properties including chemical resistance, corrosion resistance, reflectivity & appearance, hardness, electrical conductivity, tarnish resistance and electrical & wear resistance.

There were 4,300 registered enterprises in the basic metals segment and 41,000 in the metal products segment as of end-2017, according to data from the Russian statistics office. Nevertheless, the Russian metal processing sector is highly consolidated, with a few companies responsible for most of the country’s metal production. Since 2014, many companies have restructured their businesses by selling ineffective assets and by investing in more efficient and profitable technologies. M&A activity has also increased: in 2016 there were just eight M&A and equity capital market (ECM) deals in the sector worth some USD 296mn, but in 2017 their number increased to 26, valued at USD 5bn.

The production of base metals in Indonesia stagnated in 2016 as oversupply on the global markets depressed metal prices. Additionally, demand from China, which traditionally accounts for about 50%- 60% of global metal consumption, weakened in 2015-2016 and led to worsening sector economics. In 2016, Indonesia’s aluminium ingot production decreased by 4.5% y/y to 245,500 tonnes, crude steel output declined by 2.2% y/y to 4.7mn tonnes, while tin metal and nickel volumes shrank by 10.3% y/y and 4.5% y/y, respectively.

The metal injection molding market was valued at USD 2,162.6 million in 2015 and is expected to reach USD 6,522.4 million by 2025, growing at a CAGR of 11.9% from 2016 to 2025. The metal injection molding technique is preferred as it can manufacture a large quantity of components with accurate mechanical properties at a low cost. The process avoids expensive secondary operations, maintains high product tolerance levels, and provides excellent surface finishes. The demand for consumer products is projected to grow at the highest CAGR from 2016 to 2025. The growing demand for accessories, electronics, lighting cables, mobile phones, and sporting products is expected to boost the demand for metal injection molding process in the consumer products segment.

The market dynamics section of the report examines the diverse factors which govern the demand and supply of devices and materials in the silicon germanium material & devices market. This analysis will provide an in-depth understanding of the direction in which the market is headed and the impact of various factors on the same. This section covers the market dynamics – namely the drivers, restraints, and the opportunities in the silicon germanium market, listing and analyzing several factors that positively and negatively affect the market.

虽然中国及我国金属罐产业价格竞争仍然激烈，影响本产业销售值成长力道，不过，由于我国经济表现平稳，加上东盟市场制造业及基础建设需求维持热络，有助于锅炉及其辅助设备内外销市场温和成长，故估计2018上半年本产业产、销值与2017年同期小幅成长，惟由于原料成本压力扩增，加上比较基期垫高，致使业者营运表现多呈现滑落，故估计2018上半年本产业景气不如2017年同期。