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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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China’s fixed asset investment (FAI) in transportation including railways, highways, waterways and civil aviation reached Yuan 1.3 trillion ($199.1 billion) in the first half of 2019, up 4.8% on year and taking up 4.6% of China’s total FAI, Sun Lijian, spokesman of China’s Ministry of Transportation (MoT) disclosed on July 23.
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Production and sales of automobiles in China in this year’s first half continued trending down, though June sales witnessed a month-on-month increase, thanks to the temporary demand recovery from the implementation of new exhaust emission standards from July 1, Mysteel Global learned from the latest release from the China Association of Automobile Manufacturers (CAAM) on July 10.
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China’s sales of excavators and other heavy machinery over the first half of 2019 increased 14.2% on year to 137,207 units though the sales in June ebbed 20% on month, according to the latest statistics release by the China Construction Machinery Association (CCMA) on July 9.
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Total sales of heavy-duty trucks across China in the 14~100 tonnes class during the first half of this year amounted to 652,600 units, representing a decline of 3% on year, according to the latest data from Beijing-headquartered Commercial Vehicle World (CVWorld) published on July 1.
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A revised version of China’s vehicle purchase tax law which officially took effect on July 1 should make purchasing a new vehicle slightly cheaper for Chinese consumers. However, opinion is divided about whether the law’s revision will help give a badly needed boost to the country’s automotive sector.
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Chinese production of air conditioners, washing machines, refrigerators, and televisions by the country’s home appliance makers continued to increase during January-May, according to the latest data released by China’s National Bureau of Statistics (NBS), with that of air-conditioners still witnessing the sharpest growth among the four, rising by 11% year on year to reach 97.46 million units during the first five months.
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The volume of new ship orders received by China’s shipbuilders during the first five months of this year continued to decline given the global shipping market recession, plunging by 40% on year to 11.73 million dead weight tons (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on June 19.
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China’s sales of excavators and other heavy equipment in May lost 2.2% on year or 33.5% on month to reach 18,897 units, their first decline this year, according to the latest survey of the China Construction Machinery Association (CCMA) released on June 13. Market insiders attributed the decline to a correction following the surge in sales seen over the past few months.
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Production and sales of automobiles in China declined further in May, with output plunging by 9.9% on month or 21.2% on year to reach 1.85 million units, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on June 12.
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China’s domestic sales of heavy-duty trucks in the 14~100 tonnes class in May reached 109,000 units, lower by 4% on year or by 9.9% on month, according to the latest statistics released by Beijing-headquartered Commercial Vehicle World (CVWorld) on June 4. Over January-May, sales of heavy trucks totalled 553,400 units, down by a slight 1% on year.
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Production of automotive sheet among major steelworks members of the China Iron and Steel Association (CISA) declined in April, while home appliance sheet production grew strongly, according to the association’s latest data released on May 28.
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Chinese production of air conditioners, washing machines, refrigerators, and televisions by the country’s home appliance makers increased further during January-April, with output of air-conditioners growing the fastest among the four, rising by 12.5% year on year to reach 75.5 million units during the first four months, according to the latest data released by China’s National Bureau of Statistics (NBS) on May 17.
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Tough market conditions led the volume of new ship orders received by China’s shipbuilders during the first four months of this year to plunge by 47.3% on year to the equivalent of 9.49 million dead weight tons (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on May 17.
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Production and sales of automobiles in China continued trending downward in April, with output plunging by 19.8% from March and sales by 21.4%, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on May 13.
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China’s top machinery manufacturers posted surges in their profits in the first quarter of this year, confirming the market understanding that the domestic infrastructure projects and overseas projects under the country’s “Belt & Road Initiative” (BRI) have been benefiting these machinery suppliers.
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Sales of excavators and other heavy equipment in China continued trending upward in April, gaining 7% on year to reach 28,410 units, according to the latest survey of the China Construction Machinery Association (CCMA) released on May 9. However, the April result was some 35.8% lower than sales in March.
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China’s steel demand from key consuming sectors such as the property market and infrastructure construction is expected to remain stable for the rest of 2019, Wu Jingjing from the China Iron & Steel Association (CISA) shared at the Singapore Iron Ore Week 2019 forum in the city-state on May 9.
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China’s halving the shantytown development target to 2.85 million units for 2019 is dampening the sentiment of the country’s property market especially in smaller cities, even though it is unlikely to reduce the steel demand much in reality, Mysteel Global understood from various market sources on May 5.
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China’s April domestic sales of heavy-duty trucks ranging 14-100 tonnes ebbed from March’s record high, down 19% on month or 1% lower on year to 121,000 units, according to the latest statistics release by Beijing-headquartered Commercial Vehicle World (CVWorld) on May 5.
