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Manufacturing · 6.1

Steelmaking

Quantified news impact based on deduplicated, quality-reviewed events in a single 200-day window.

Average net impact-17weighted per event
Average gross impact37absolute weighted average
Events9same period
Confidence81%model average
Raw intensity61before weighting
Previous period0net impact
Gross changeInsufficient base
Diffusion speed0.0 / day
Concentration13%
Direction disagreement55%
Source independence96%15 sources
IMPACT TREND

200-day effective impact

Positive 4 · Negative 5 · Mixed 0

Current periodPrevious period
TIME HORIZON

Impact duration

Immediate0%0 cumulative effective impact
Short term33%111 cumulative effective impact
Medium term67%222 cumulative effective impact
Long term0%0 cumulative effective impact
CO-IMPACT

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EVENT EVIDENCE

Events ranked by effective impact

Page 1 of 1 · 9 events

Macro7
01
Macronegative

China's July 2026 Manufacturing PMI Falls to 49.2%; Equipment and High-Tech Manufacturing Maintain Expansion

China's manufacturing Purchasing Managers' Index (PMI) fell to 49.2% in July 2026, entering contraction territory due to a high base from earlier rapid growth and the onset of the traditional off-season for some industries. The equipment manufacturing and high-tech manufacturing PMIs stood at 51.4% and 53.3%, respectively, maintaining expansion. In contrast, consumer goods and high-energy consumption sectors weakened. The production index and new orders index declined to 49.9% and 48.5%, while input prices remained elevated at 53.2% and output prices fell to 47.8%.

Effective
-53
Intensity
75
Confidence
90%
Horizon
Short term
02
Macronegative

Profits of China's Industrial Firms Up 18.7% in First Half 2026, Electronics Sector Surges 96.9%

China's industrial enterprises above designated size posted a 18.7% year-on-year profit growth in the first half of 2026, totaling 3.94799 trillion yuan. The pace accelerated 3.2 percentage points from the first quarter. The electronics sector led with a 96.9% surge, driven by AI and computing demand, contributing 8.5 percentage points to overall industrial profit growth. Revenue rose 6.5% and the profit margin improved to 5.70%.

Effective
-48
Intensity
70
Confidence
85%
Horizon
Medium term
03
Macronegative

US Section 122 of Trade Act of 1974 Expires; Replacement Tariffs Push Effective Rate to 11.8%, China to 27.2%

The US Section 122 of the Trade Act of 1974 expired on July 24, 2026, prompting replacement tariffs under Sections 301, 232, and 338. New Section 301 forced-labor tariffs impose 12.5% and 10% additional duties on 60 and 14 economies respectively, covering over 99% of US imports. A separate Section 301 investigation on Brazil resulted in a 25% tariff on most Brazilian goods. Section 232 tariffs cover steel, aluminum, and other sectors. Section 338 was first used on July 20, imposing a 50% punitive tariff on Canadian imports of cars, parts, alcohol, clothing, and furniture. The US weighted average effective tariff rate fell to 8.3% after Section 122 expiry, then rose to 11.8% after new tariffs. China's average rate rose from 25.9% to 27.2%, and Canada's from 5.3% to 7.8%.

Effective
-48
Intensity
70
Confidence
85%
Horizon
Short term
04
Macronegative

Industrial Firms' Profits Rise 18.7% in H1, Driven by Electronics and Nonferrous Metals

In the first half of the year, profits of China's above-scale industrial enterprises totaled RMB 3,947.99 billion, up 18.7% year on year, accelerating by 3.2 percentage points from the first quarter. Operating revenue grew 6.5%, and the operating profit margin reached 5.7%, the highest cumulative level since the start of 2024. The electronics sector posted a 96.9% profit surge, contributing 8.5 percentage points to overall growth, while the nonferrous metals sector rose 99.4%, contributing 4.7 percentage points. Mining and manufacturing profits also expanded, but utilities declined. The data reflect the rapid growth of new drivers such as AI-related computing demand.

Effective
-45
Intensity
68
Confidence
90%
Horizon
Medium term
05
Macropositive

Politburo Plans October 2026 Fifth Plenum, Pledges Faster Fiscal Spending; H1 Special Bond Sales Hit RMB2.07

The Political Bureau of the CPC Central Committee decided on July 30 that the Fifth Plenary Session of the 20th Central Committee will convene in Beijing in October 2026. The meeting analyzed the economic situation and set second-half priorities, stressing accelerated fiscal spending and bond fund use. New special bond issuance in the first half hit RMB2.07 trillion, or 47% of the annual quota. Consumption growth slowed to 1.3% in H1, with auto sales down 12.6% and appliance sales down 7.4%. The meeting pledged to expand domestic demand, build a modern industrial system, and advance opening-up, while setting a 2030 target of 100 trillion yuan for the services sector.

Effective
+42
Intensity
65
Confidence
70%
Horizon
Medium term
06
Macronegative

China Jan-May Profits Up 18.8% to 3.14 Trillion Yuan; Nonferrous, Electronics Double; Auto, Steel Down

Profits of China's industrial enterprises above the designated size reached 3.14 trillion yuan in the first five months of 2026, up 18.8% year-on-year, with the revenue profit margin improving to 5.56%. State-controlled and joint-stock firms led growth, while private enterprises also gained. Profits in the nonferrous metals and electronics sectors more than doubled, whereas automobile and steel profits fell sharply. The asset-liability ratio of industrial enterprises stood at 58.2% at end-May.

Effective
-34
Intensity
70
Confidence
85%
Horizon
Medium term
07
Macropositive

Shanxi Province Sets Up 10 Billion Yuan Manufacturing Revitalization Equity Fund

Shanxi Province has established a manufacturing revitalization and upgrade equity investment fund with a total capital contribution of about 10 billion yuan. The limited partnership will engage in private equity investment, investment management, and asset management. Key contributors include Shanxi Production Investment Capital Management Co. , Ltd. and Shanxi Coking Coal Group Co.

Effective
+14
Intensity
40
Confidence
60%
Horizon
Medium term
Industries0

No evidence on this page.

Companies2
01
Companiespositive

Shagang Group and China Iron & Steel Research Institute Sign Strategic Cooperation Agreement

Shagang Group and China Iron & Steel Research Institute Group signed a strategic cooperation agreement on July 27, covering the entire chain from research and development, pilot testing, to industrialization. The systematic partnership aims to bridge the gap between laboratory research and production lines, accelerating the conversion of key technologies. This move is expected to enhance the efficiency of technology transfer in the steel industry.

Effective
+26
Intensity
55
Confidence
75%
Horizon
Medium term
02
Companiespositive

Benxi Steel Plate Completes Full Redemption of Convertible Bonds

Benxi Steel Plate Co. , Ltd. has fully redeemed all of its convertible corporate bonds, marking the completion of its redemption obligations. The company confirmed that all issued convertible bonds have been paid off, concluding the program.

Effective
+10
Intensity
40
Confidence
90%
Horizon
Short term