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China’s sales of excavators and other heavy machinery over January-October increased by 14.4% on year to 196,222 units, a historical high, according to the latest data released by the China Construction Machinery Association (CCMA) on November 9.
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China and the U.S. have agreed to roll back tariffs on each other’s goods in phases “at the same time” and “by the same degree” as part of the “phase one” trade deal if it is to be reached, Gao Feng, spokesman of China’s Ministry of Commerce (MoC) confirmed at the press conference in Beijing on November 7.
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Sales of new-energy vehicles (NEVs) in China continue to show signs of stalling, given a series of negative factors including the prevailing softening economy, the county’s cooling automotive sector generally, and the reduction in subsidies for NEV purchases since late June, market sources said.
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Production of the four most popular electrical home appliances in China showed diverged results over the first nine months of this year, with output of the top contributor – air conditioners – showing a year-on-year increase of 6.4% to reach 170 million units, according to the latest data from China’s National Bureau of Statistics (NBS). However, the growth rate was 1.5 percentage points lower compared with that over January-August.
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Domestic production and sales of new-energy vehicles (NEVs) across China are showing signs of weakness, largely as a consequence of the central government’s move to reduce generous subsidies on NEVs that over the past few years had helped automakers to enjoy substantial growths in electric car sales.
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China’s auto sales over the first nine months of 2019 decreased 10.3% on year to 18.4 million units, and auto production declined 11.4% on year to 18.1 million units, according to the latest statistics from the China Association of Automobile Manufacturers (CAAM) on October 14.
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The production of the four most popular electrical home appliances in China showed mixed results for August, with output of air conditioners, refrigerators and televisions continuing to decline on year while production of washing machines alone grew year-on-year, according to the latest data released by China’s National Bureau of Statistics (NBS).
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China’s auto sales were still under downward pressure over January-August, though the year-on-year decline narrowed to 11% on year as against the 11.4% for the first seven months, Mysteel Global noted from the latest statistics from the China Association of Automobile Manufacturers (CAAM) on September 11.
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China’s sales of excavators and other heavy machinery over January-July increased by 13.9% on year to 149,553 units, according to an August 13 release by the China Construction Machinery Association (CCMA), with July sales alone being higher by 11% on year at 12,346 units.
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Both sales and production of China’s new-energy vehicles (NEV) declined on year for the first time in July, down 4.7% and 6.9% respectively, after a boost in sales in June as buyers rushed to enjoy the last days of subsidies on such vehicles until June 25, according to the latest release from China Association of Automobile Manufacturers (CAAM) on August 12.
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China Association of Automobile Manufacturers (CAAM) has revised its expectation on 2019 auto sales to a 5% year-on-year decline instead of a flat year from 2018 because of the weaker-than-expected performance in the sector in the first half, market sources confirmed on Tuesday.
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Futures prices of most non-ferrous metals including copper, aluminum, zinc and nickel on the Shanghai Futures Exchange lost ground this week on macro-economic factors, both in the domestic and global markets, which investors believed reflected a gradual slowing economy, market sources said.
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Domestic prices of ferromolybdenum in China have slid over the past week, with Mysteel’s 60% ferromolybdenum price slipping by Yuan 8,000/tonne ($1,176) or 6% on week to Yuan 130,000/t including 16% VAT as of August 14. Only a week earlier on August 7, the price had hit a 6.5-year high of Yuan 138,000/t.
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
