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Chinese shipbuilders received 19.5 million dead weight tonnes (dwt) of new vessel orders during this year’s January-September period, down 27.4% on year, according to the latest statistics from China Association of the National Shipbuilding Industry (CANSI) published on October 16. However, the margin of decline was much smaller than the on-year decrease seen over the first eight months of nearly 38%, Mysteel Global noted.
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China’s sales of excavators and other heavy machinery over January-September increased by 14.9% on year to 179,195 units, according to the latest data released by the China Construction Machinery Association (CCMA), with September sales alone being higher by 17.8% on year at 15,799 units. CCMA’s survey canvasses 25 major excavator producers nationwide, Mysteel Global notes.
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China’s auto sales over the first nine months of 2019 decreased 10.3% on year to 18.4 million units, and auto production declined 11.4% on year to 18.1 million units, according to the latest statistics from the China Association of Automobile Manufacturers (CAAM) on October 14.
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China’s shipbuilders witnessed a substantial 37.9% year-on-year decline in new vessel orders over January-August to 15.7 million dead weight tonnes (dwt), according to the latest statistics from China Association of the National Shipbuilding Industry (CANSI). Though the pace of the decline over the eight months slowed by 1 percentage point from January-July, among the total of new orders those for export at some 14.6 million dwt – accounting for 93% of the total – were down by a large 35.2% on year.
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Low demand growth in some key steel-consuming industries including auto and home appliance manufacturing is presently casting a shadow over the prospects for steelmakers, but there is cause for optimism, according to attendees at the Asia Steel Forum 2019 in Shanghai on September 19. New opportunities exist for auto sheet makers in light-weight and high-strength steel while for makers of other types of steel, consumer demand for new high-quality home appliance products would stimulate steel demand, they said.
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China’s total sales of excavators and other heavy machinery over January-August jumped by 14.4% on year to 163,396 units, according to a September 12 release by China Construction Machinery Association (CCMA). For August alone, sales surged by 19.5% on year to 13,843 units, the data shows.
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China’s auto sales were still under downward pressure over January-August, though the year-on-year decline narrowed to 11% on year as against the 11.4% for the first seven months, Mysteel Global noted from the latest statistics from the China Association of Automobile Manufacturers (CAAM) on September 11.
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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Total sales of heavy-duty trucks across China in the 14~100 tonnes class during the first eight months of this year amounted to 805,200 units, representing a decline of 2% on year, according to the latest data from Beijing-headquartered Commercial Vehicle World (CVWorld) published on September 2.
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Domestic prices of steel scrap are likely to stay rangebound this month, Chinese market watchers said Wednesday, citing mainly the notable fall in scrap usage among steelmakers.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry retreated 0.2 basis point on month to 49.5 for August, as production continued with the expansion, while demand was under pressure, according to the latest report from China’s National Bureau of Statistics (NBS) released on August 31.
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China’s Purchasing Managers’ Index (PMI) for the steel industry for August hit a new low since December 2015, reaching 44.9 amid imbalance in the fundamentals, steel price declines amid higher production and stocks while the growing challenges in sales, according to the latest release on August 31 by the official index compiler CFLP Steel Logistics Professional Committee (CSLPC).
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China’s State Council, the country’s top policymaking body, has finalized a new package of measures aimed at promoting circulation of goods and consumption including automobiles and white goods, it announced on August 27.
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Bangladesh is expected to see its demand for steel and therefore steel scrap grow steadily amid the South Asian country’s strong domestic economic growth and its programme of infrastructure construction, Sanjoy Kumar Ghosh, senior manager, Supply Chain Management at Chittagong-based long steel maker BSRM Group of Companies, shared on August 29 at SteelMint’s 4th Steel Scrap, Billet, and DRI Trade Summit in Bangkok, Thailand.
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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.
