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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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China exported a total of 55.1 million tonnes of steel over the first ten months of this year, down 5.8% on year, according to the latest data released by China’s General Administration of Customs on November 8. The decline is steeper than the year-on-year decrease of 5% over the January-September period, Mysteel Global noted.
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China's October steel PMI hit a 46-month low of 41.3, down 2.9 basis points on month. A detailed report will be posted soon.
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A fire on Thursday morning at Hebei Xinghua Iron & Steel Co (Xinghua Steel), a long products maker in Wu’an city in North China’s Hebei province, has claimed seven lives, according to an announcement from Hebei’s provincial Department of Emergency Management.
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China’s GDP grew 6.2% on year over January-September, still within Beijing’s 6-6.5% economic growth target for 2019, though the growth for Q3 fell another 0.2 percentage point from Q2 to 6% on year, or a new low after Q2 since China started the GDP statistics in 1992, according to the latest statistics from the country’s National Bureau of Statistics on October 18.
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China’s crude steel production still grew over January-September, but at a lower 8.4% year-on-year rate than the 9.1% annual rise for the first eight months, totalling 748 million tonnes, Mysteel Global noted from the latest statistics released by the country’s National Bureau of Statistics (NBS) on October 18.
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China's gross domestic products (GDP) grew 6.2% on year for the first three quarter of 2019, and its fixed asset investment grew 5.4% on year over January-September, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China's crude steel output grew 8.4% on year to 747.8 million tonnes over January-September, with the September volume up 2.2% on year to around 82.8 million tonnes. A detailed report will be posted soon.
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Production summary
Source: Rio Tinto, released on October 16
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry rebounded 0.3 basis point on month to 49.8 for September, as situation both in domestic market and exports improved marginally, according to the latest release from China’s National Bureau (NBS) of Statistics on September 30.
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The aggregated gross profit of China’s ferrous smelting and processing industry for the January-August period totalled some Yuan 181.8 billion ($25.6 billion), a 31.3% year-on-year plunge and the second steepest decline among all the sectors the National Bureau of Statistics (NSB) monitored last month.
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China's fixed asset investment (FAI) in general grew 5.5% on year to Yuan 40.1 trillion ($5.6 trillion) for January-August, with the growth slowing down 0.2 percentage point from January to July. Investment in the property market grew 10.5% on year over the eight months, though this too was down 0.1 percentage point from January to July, according to the latest updates from China’s National Bureau of Statistics (NBS) released on September 16.
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China’s daily crude steel output in August reversed up after a short-lived retreat in July, growing by 2.4% from July’s four-month low to reach 2.82 million tonnes/day, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on September 16.
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China's crude steel output reversed up 2.4% on month to 2.82 million tonnes/day in August, and the total volume for the first eight months grew 9.1% on year to around 665million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.5% on year to Yuan 40.1trillion ($5.6trillion) for January-August, among which the funding in the property market went up 10.5% on year to Yuan 8.5trillion during the period. A detailed story will be posted soon.
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China exported some 45 million tonnes of steel over the first eight months of 2019, or down 4.4% on year, according to the latest data released by China’s General Administration of Customs (GACC) on September 8, with the decline being more substantial than the 2.9% on year for the first seven months, Mysteel Global noted.
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China's steel exports declined 4.4% on year to just below 45million tonnes for January-August. A detailed report will be posted soon.
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The China Association of Metallurgical Utilization (CAMU) is lobbying the central government in Beijing for steel scrap to be removed from the list of foreign solid waste materials under import restrictions so as to facilitate higher scrap utilization in steelmaking, Li Shubin, CAMU executive vice president, disclosed at a conference in Bangkok, Thailand, on August 27.
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China’s State Council Tariff Commission will impose 5% and 10% tariffs on the U.S. goods worth $75 billion on or 5,078 items in two batches respectively on September 1 and December 15 as the countermeasures to the U.S. announcement on the 10% tariffs on Chinese goods worth $300 billion also in two batches on these two dates.
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Over January-July, China’s produced about 577 million tonnes of crude steel, up 9% on year, or 0.9 percentage point lower than that for H1 of 2019 because of less steel output for July, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on August 14.
