Galvanization is a method where a protective layer of zinc is applied to the surface steel to prevent rusting and corrosion. The natural corrosion-resistant property of zinc provides a long-lasting protection in external environments. Galvanized steel is coated with zinc to prevent corrosion of steel. 

5-axis CNC machining centers enable the cutting tool to move across the X, Y and Z linear axes. Two additional axes, A and B, help to move the object precisely in any direction.They offer significant benefits, such as reduced lead time, increased efficiency, and improved tool life.They are used for complex applications, such as conventional designing of tilted surfaces and the designing of complex 3D shapes.

The mechanical, electrical, and plumbing (MEP) services market in the Middle East will witness a stable growth during the forecast period. The rising infrastructural developmental activities in the region will drive the need for specialized electromechanical and water management services in the end-user segment.In 2020, the Kingdom of Saudi Arabia (KSA) is expected to contribute 47.61% (the

highest share of revenues) of the MEP services market in the Middle East. This is primarily attributed to the mega-scale development projects in the real estate,hospitality, and healthcare sectors. Among all the Middle East countries, the UAE is expected to be the most mature market. This is because the UAE houses several facilities management vendors that offer MEP services in the country.Commercial buildings, including hotels, retail malls, office buildings, and other business spaces will record the highest growth in terms of CAGR during the forecast period. Commercial buildings are expected to record a CAGR of 10.79%,signifying the growing demand for electromechanical services in buildings. To support residential developments in the Middle East, the employment rate of MEP services for residential buildings will also register a phase of rapid growth during the forecast period.The electrical services segment constitutes 45% of the MEP services market,followed by the mechanical services segment with 35% and the plumbing services segment with 20%.

Mechanical seals converge/connect parts of systems or mechanisms to prevent the leakage of fluids. The plumbing systems in the oil and gas, power, water and waste water, manufacturing, aerospace, automotive, electrical and electronics, and petrochemical industries use these seals to prevent fluid leakage by maintaining the pressure flow. The plumbing mechanism that the industry employs determines the type of seals that are required for joining the parts. 

The natural gas is burnt in the combustor in the presence of compressed air. This generates high-temperature and high-pressure gas, which will eventually drive the turbine. A generator is connected to the shaft of a turbine that rotates due to the force exerted by the high-pressure gas. This, in turn, rotates the generator, which produces power.

上周市场大幅回调，8 月 11 日上证综指下跌 1.63%，创年内单日最大跌幅；前期涨幅较大的周期股出现大幅下跌。我们认为，随着周期股热度的减弱，以“华北无煤区”为代表的强主题有望迎来投资机会，建议关注相关机械设备公司。

本周钢厂高炉开工率 77.49%，周环比回升 0.28 个百分点。Mysteel预估 8 月上旬全国粗钢产量 2406.14 万吨，日均产量 240.61 万吨，环比7 月下旬上升 0.19%。五大品种社会库存 943.18 万吨，周环比下降 2.62万吨。螺纹钢库存周增 6.6 万吨，库存仍在低位平衡区域震荡。

固定资产投资的高点已过，预计钢材需求将趋弱。“地条钢”淘汰已完成，年度去产能任务也已完成 85%以上，后续淘汰压力大幅减小，电炉产能释放压力将逐步加大。我们认为钢价下行压力增大，行业盈利能力将从高位震荡下行。钢铁板块估值并不便宜，一季度年化 PE 高达20 倍。短期可以关注中报业绩预期不错且估值不高的公司，如*ST 华菱，但维持行业“中性”投资评级。

6月，高端装备制造业主要子行业进出口情况出现分化。当月，航空装备出口额、进口额同比分别增长22.81%、下跌19.14%；轨道交通装备出口额、进口额同比分别增长79.21%、下降12.78%；船舶工业出口额、进口额同比分别增长12.88%、20.39%。智能制造方面，1～6 月，工业机器人产量同比增长 52.3%，继续保持快速增长势头。

Industrial valves are mechanical devices that are used to regulate, monitor, and control the flow of fluid in an industrial facility. Valves operate by opening, closing or partially blocking passage ways to allow movement of fluids from a direction of high pressure to

low pressure or vice versa. Valves are used across several discrete and process industries for transporting fluids between two points within an enclosed system.Among the end-users of industrial valves, the oil and gas industry is the major shareholder in terms of revenue due to the criticality of operations and requirement of devices for movement of fluids from one subprocess to another.The oil and gas industry is one of the major end-users of industrial valves. The industry contributes a significant share in terms of the overall market revenue. Owing to the criticality of processes carried out in the oil and gas sector and the need to transport

fluids from one stage of the process to another, industrial valves find increased applications in this sector. The industrial valves ensure smooth operations by regulating and controlling the movement of fluids.Increased exploration and production activities are being witnessed in North America,the Middle East and Africa (MEA), and APAC. These activities contribute largely to the steady market growth. In 2016, EMEA dominated the global industrial valves market in oil and gas industry by accounting for 59.31% share of the overall market revenue. The Americas and APAC are the other shareholders of the market, with APAC projected to record the highest CAGR among all regions globally.