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China’s GDP achieved a 6.3% year-on-year growth for the first half of 2019 to Yuan 45.1 trillion ($6.6 trillion), which was within Beijing’s economic growth target of 6-6.5% for this year, though the Q2 GDP growth was 0.2 percentage point lower than that for Q1, according the latest release from the country’s National Bureau of Statistics (NBS) on July 15.
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The latest data from China's National Bureau of Statistics (NBS) suggests the country could conceivably produce close to 1 billion tonnes of crude steel for the whole 2019 if the steel production kept running at nearly 10% year-on-year growth rate, though market sources dismissed the possibility.
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China’s average capacity utilization rate in all industries nationwide remained largely unchanged during the April-June quarter at 76.4%, up 0.5 percentage point on quarter, though 0.4 percentage point lower than one year ago, according to the latest data released by China’s National Bureau of Statistics (NBS) on July 15.
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China's fixed asset investment (FAI) grew by 5.8% on year to Yuan 29.9 trillion ($4.3 trillion) for January-June, up 0.2 percentage point from that for January-May, while the FAI in the property market grew 10.9% on year in H1, 0.3 percentage point lower than the first five months, according to the latest data released by China’s National Bureau of Statistics on July 15.
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China's crude steel output grew 9.9% on year to 492 million tonnes over January-June, with the June volume up 10% year on year to about 87.5 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.8% on year to Yuan 29.9trillion ($4.3trillion) for January-June, among which the funding in the property market went up 10.9% on year to Yuan 6.2trillion during the period. A detailed story will be posted soon.
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Over January-June, China’s coke output
increased 6.7% on year to 233.9 million tonnes, and raw coal including thermal and metallurgical coal grew 2.6% on year
to 1.76 billion tonnes. A detailed report will be posted soon.
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China's GDP grew 6.3% on year in the first half of 2019, which was within its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China exported 34.4 million tonnes of steel in this year’s first half, representing a decline of 2.6% or 919,000 tonnes on year, according to data from China’s General Administration of Customs (GACC) released on July 12. Significantly, the decrease reversed the 2.5% year-on-year increase seen in exports over January-May, Mysteel Global noted.
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China's steel exports decreased2.6% on year to 34.4million tonnes for January-June. A detailed report will be posted soon.
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China’s imports of coal and lignite increased 5.8% on year to 154.5 million tonnes over January-June, and the exports of coke and semi-coke decreased 19.7% on year to 3.8 million tonnes. A detailed report will be posted.
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Lingering concerns about market demand led the most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) for September delivery to end the daytime trading session at Yuan 829.5/dmt ($120.6/dmt) on Friday, down another Yuan 38.5/dmt on day and dashing any chance of the week’s earlier record being bettered.
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Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, raised its steel scrap procurement price over the weekend by Yuan 70-100/tonne ($10-15/t) effective from June 29 deliveries, the steel company said in an announcement the same day.
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The most-traded rebar contract on the Shanghai Futures Exchange, that for October delivery, jumped by Yuan 88/tonne ($13/t) from last Friday’s settlement price to end Monday’s day-time trading session at Yuan 3,904/t.
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Six miners trapped in the underground Zhuangwang coal mine in Xinzhou city of North China’s Shanxi were announced dead at the hospital after the rescue at 18:59 Wednesday Beijing time, according to a local government notice.
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The world’s largest iron ore miner Vale announced on June 19 Brazilian time that it will be able to fully resume the wet processing operations at its Brucutu mine in Minas Gerais, Southeast Brazil, “within 72 hours”.
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The city government of Yibin in Southwest China’s Sichuan province has ordered all local mines including coal mines to stop operations and evacuate miners to avoid additional casualties after two earthquakes struck the city late Monday, according to a release by the Yibin government on June 18.
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In a move that took market watchers by surprise, Jiangsu Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in East China’s Jiangsu province, raised its steel scrap procurement price by Yuan 50/tonne ($7.2/t) for deliveries starting June 18. The mill made its intention known to dealers and agents late on Monday, Mysteel Global understands.
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China’s crude steel output in May grew by 10% on year to reach 89.1 million tonnes, with the average daily steel output rising by another 1.4% on month to reach a new high of 2.87 million tonnes/day, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on June 14.
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China's overall fixed asset investment (FAI) grew by 5.6% on year to Yuan 21.76 trillion ($3.15 trillion) for January-May, though the five-month growth was lower by 0.5 percentage point from growth during January-April, according to the latest data released by China’s National Bureau of Statistics on Friday.
