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As market had expected, both China’s auto sales and production slumped in February as the COVID-19 hit China’s economy and many industrial sectors hard, and the sales fell 79.1% on year and the production decreased 79.8% on year, the latest release from the China Association of Automobile Manufacturers (CAAM) on March 12 confirmed the dismal.
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China’s primary aluminum stocks in the warehouses of the Shanghai Futures Exchange and at the traders in the 16 Chinese cities under Mymetal’s weekly surveyhit a 10-month high of 1.56 million tonnes as of March 9, as domestic demand stayed tepid while smelters showed little inclination to cut production.
The total
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Flagging domestic sales of cars and factories working at reduced capacity have prompted the China Association of Automobile Manufacturers (CAAM) to quietly propose that the central government put off the nationwide implementation of new, tougher automotive emission control regulations, known as National Emission Standard Stage VI, according to a February 17 document seen by Mysteel Global stamped by the association.
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Total aluminum ingot stocks in China’s retail markets refreshed their record high during February 17-24, climbing to nine-month new peak, according to the latest stocks report from Mymetal, Mysteel’s nonferrous metals data collecting arm.
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Social Aluminum ingot stocks in China piled up to its seven-month high of over 1 million tonnes as of February 10, as the market has remained quiet amid the continuing battling against the Novel Coronavirus Pneumonia (NCP) outbreak, showed the latest survey by Mymetal, Mysteel’s nonferrous metals data collecting arm.
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The outbreak of Novel Coronavirus Pneumonia (NCP) in China is expected to hurt the country’s auto production and sales, at least in Q1, as the pace of manufacturers’ production is slowing down and currently, consumers are too distracted to buy cars, industry watchers have told Mysteel Global. In addition, production and exports of automotive components made in China for vehicle manufacturers abroad are also being disrupted.
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China’s production and sales of automobiles in 2019 declined by 7.5% and 8.2% on year to 25.7 million units and 25.8 million units respectively, according to the latest statistics from China Association of Automobile Manufacturers (CAAM) published on January 13.
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US-headquartered electric car producer Tesla delivered the first ‘Model 3’ cars made at its new factory in East China’s Shanghai to Chinese consumers on January 7, exactly one year after beginning construction on its Gigafactory, a combination car- and battery-making plant, in Shanghai’s Lingang Area.
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China’s average price for 99.7% aluminum ingot moved up by Yuan 437/tonne ($62.4/t) on week to Yuan 14,419/t including 13% VAT as of December 20, mainly thanks to the ongoing de-stocking of ingots, according to the weekly report from Mymetal, Mysteel’s nonferrous market data collection arm.
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China’s price for 99.99% copper cathode averaged Yuan 48,959/tonne ($6,994/t) as of last Friday, with the substantial Yuan 1,636/t rise on week seen as a result of better market sentiment, according to Mymetal’s latest weekly report. Mymetal is Mysteel’s publication reporting non-ferrous news and prices.
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China’s aluminum price had been holding firm over December 3-9, partly as aluminum stocks with the traders in 16 major Chinese cities under Mymetal’s weekly survey posted the fourth week of contraction during the period, down another 43,000 tonnes on week to 643,000 tonnes as of December 9, according to Mymetal’s weekly aluminum report.
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China’s national average price for refined zinc ingot fell further for the fourth week by Yuan 96/tonne ($/t) on week to Yuan 18,647/t including the 13% VAT as of November 29, although zinc consumption in steel galvanizing and zinc alloys stayed steady last week, according to Mymetal, Mysteel’s nonferrous market data collection arm.
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China’s national average price for 99.7% grade primary aluminum ingot recovered by Yuan 135/tonne ($19.3/t) on week to reach Yuan 14,044/t including 13% VAT as of November 25, according to Mymetal’s latest price report. The prices received a boosted from the steady contraction of aluminum stocks across the country which are now at their lowest level in nearly three years. Mymetal is Mysteel’s publication reporting non-ferrous news and prices.
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China’s production of the four major home appliance showed diverged results again in October, with output of air conditioners witnessing a decline of 2.1% on year or by a large 25.3% on month, according to the latest data released by China’s National Bureau of Statistics (NBS).
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The national average price for 99.99% copper cathode across China headed down during the November 11-15 week, losing Yuan 444/tonne ($63/t) on week to reach Yuan 46,908/t including 13% VAT as of November 15, according to Mymetal’s latest weekly study.
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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.
