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Chinese steel market participants welcomed Beijing’s Thursday announcement that tax rebates on certain export products including many steel and steel-related products will be raised from March 20, according to opinions canvased by Mysteel Global on Wednesday. Many respondents believed that larger tax rebates would increase their price competitiveness and boost business in the longer run, however, rather than in the short-term.
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China’s fixed asset investment (FAI) had been hit hard by the outbreak of COVID-19 across the country over the first two months, having plunged 24.5% on year, or a free fall from the 5.4% year-on-year growth for the whole 2019, and the FAI in the property market also plummeted 16.3% on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
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China’s fixed asset investment (FAI) plunged 24.5% on year over January-February, and that in the property market plummeted 16.3% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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Over January-February,China’s total production of raw coal for
all use declined by 6.3% on year to about 489 million tonnes, and its coke output dropped 5.5% on year to about 70.6 million tonnes. A detailed report will be posted soon.
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China's crude steel output grew 3.1% on year to about 154.7 million tonnes over January-February. A detailed report will be posted soon.
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China’s iron ore imports increased by 1.5% on year to about 177 million tonnes over January-February. A detailed report will be posted soon.
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China imported 68.06 million tonnes of coal for all use over January-February, or 33.1% higher on year. A detailed report will be posted soon.
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China’s General Administration of Customs announced on February 7 that it will release January-February cumulative data in March starting 2020.
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Many ferrous market sources outside China have been rather keen to understand whether or how badly Chinese steel demand has been dampened by the outbreak of the Novel Coronavirus (2019-nCoV), or whether China’s iron ore consumption will decline because of the virus attack. One answer covers all: “wait until 2019-nCoV has been defeated and within control.”
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Mysteel.net will not be having any news updates on the dates below because of the public holidays in China:
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For 2019, China’s gross domestic product grew 6.1% on year to Yuan 99 trillion ($14 trillion), with the final result coming within the central government’s targeted range for last year of 6-6.5%, according to National Bureau of Statistics (NBS) data released on the release on January 17. “Most of the tasks were fulfilled, laying a solid foundation for China to develop into a well-off society,” NBS commented.
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Fixed asset investment (FAI) in China’s manufacturing sector grew by a total of 5.4% on year during full year 2019, up 0.2 percentage point from the first eleven months, according to the latest data from the National Bureau of Statistics (NBS) released on Friday. FAI in the domestic property market increased by 9.9% on year during January-December, though this was off by a tiny 0.3 percentage point from the January-November reading, the data show.
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China’s total production of raw coal for
all use increased by 4.2% on year at 3.7 billion tonnes in 2019, and the
country’s coke output grew 5.2% on year at 471.3 million tonnes last year. A
detailed report will be posted soon.
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China's 2019 crude steel output grew 8.3% on year to about 996.3 million tonnes, with the December volume up 11.6% on year to 84.3 million tonnes. A detailed report will be posted soon.
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China’s iron prices for both port inventories and seaborne cargoes continued to fall on January 16, with Mysteel’s portside iron ore index decreasing by Yuan 5/wmt ($0.7/wmt) on day to reach Yuan 691/wmt FOT Qingdao and including the 13% VAT. The same day, the seaborne iron ore index lost ground too, albeit by a tiny $0.05/dmt on day to settle at $95.25/dmt CFR Qingdao.
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China's steel exports declined 7.3% on year to about 64.3 million tonnes for 2019. A detailed report will be posted soon.
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China’s pig iron production in November saw year-on-year growth of 2.1% to reach 64.77 million tonnes, according to the latest data released by the country’s National Bureau of Statistics (NBS) on December 16.
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China’s coke
output increased 4.9% on year at 38.6 million tonnes in November, and
production of raw coal for all use grew 4.5% on year to 334.1 million tonnes. A
detailed report will be posted soon.
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China's fixed asset investment in general grew5.2% on year to Yuan 53.37trillion ($7.5trillion) over January-November, among which the funding in the property market went up 10.2% on year to Yuan 12.13trillion.A detailed story will be posted soon.
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China's crude steel output grew 7% on year to about 904.2 million tonnes over January-November, with the November volume up 4% on year to 80.3 million tonnes. A detailed report will be posted soon.
