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The second wave of Covid-19 is threatening to slam the brakes on the automotive sector that was just beginning to accelerate. The cautious optimism with which the auto-makers looked forward to FY ’22 has given way to worry as the sudden spike in the infections has led to lockdown in many key markets. In recent weeks, there have been a number of automakers that have had to shut down their manufacturing plants due to the rapid increase in COVID-19 cases.
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Global automobile production by Japan’s eight major automakers during the fiscal 2020 (April 2020-March 2021) fell to a nine-year low, or recording a 12.2% on-year decline to about 23.12 million units, according to the latest data released by the automakers, though the on-year decline was not as steep as the market had expected.
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China’s heavy trucks sales may have slowed in April, with the sales volume expected to grow 4% on year but down 14% on month, as demand may take a pause after a robust March even though the National Stage VI specifications will be adopted starting H2, according to the projection by the Beijing-headquartered Commercial Vehicle World (CVWorld) on May 5.
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Japan’s Purchasing Managers’ Index (PMI) for its manufacturing industry for April rose by another 0.9 basis points on month to 53.6, indicating that Japanese manufacturers expect a stronger degree of positive sentiment regarding the year-ahead outlook for output, according to data from index compiler au Jibun Bank Corporation, released on April 30.
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Starting July 1, China will ban both production and sales of new diesel-fuelled heavy-duty trucks with emission not up to the National Stage VI specifications, according to a recent release by the country’s Ministry of Industry and Information Technology (MIIT), and MIIT, to minimize any confusion, even listed out the auto makers, auto models, and auto parts that are to be eliminated in the April 21 notice.
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Japan’s steel value chain including steel producers and end-users expects little impact of the third state of emergency on their operations, even though the latest partial lockdown will be running over April 25-May 11, affecting Tokyo, Osaka, and Kyoto and Hyogo in western Japan.
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China’s production of the four major home appliances increased significantly in the first quarter of this year, given the low bases in the same period last year, as well as their sustained strong export business. But dampening the manufacturers’ mood was the rise in raw materials and other input costs, Mysteel Global noted.
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Like their counterparts worldwide, carmakers in China are struggling with the shortage of automotive-use semiconductors, and with the chip shortage expected to be prolonged, fears are growing that production delays could undermine the strength of the country’s burgeoning market for New Energy Vehicles (NEVs).
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Japan’s crude steel output during fiscal 2020 (April 2020-March 2021) including both carbon and special steel declined to a new low since fiscal 1969, down 15.9% on year to about 82.8 million tonnes, according to the latest data from the Japan Iron & Steel Federation (JISF) released on April 22.
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Over January-March, China’s shipbuilders received new vessel orders totalling 17.2 million dead weight tons (dwt), up 251.7% on year and much higher than the 105% on-year rise for January-February, mainly due to the low base in Q1 2020 and growing demand for container vessels, according to the data released by the China Association of National Shipbuilding Industry (CANSI) on April 21.
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Japan’s finished steel exports of all grades and forms for the fiscal year 2020 (April 2020-March 2021) slumped to its 20-year low of about 30.8 million tonnes, or down 12.2% on year, Mysteel Global noted from the latest preliminary data released by Japan’s Ministry of Finance on April 19.
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China’s sales of excavators both at home and abroad stayed robust, or gaining 85% on year to 126,941 units for Q1, according to the latest data from China Construction Machinery Association (CCMA) on April 8, partly due to low base numbers in the corresponding period of 2020 but also suggesting that the demand in and out of China has so far been rather solid.
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Sales of heavy trucks throughout China during March increased by 86% from February and by 83% on year to around 220,000 units, according to preliminary estimates from trucking industry news portal, Commercial Vehicle World (CVWorld) posted on April 1. If the estimate proves correct, the March total would represent the highest monthly sales on record, CVWold said, noting that last month’s sizzling performance reflected robust demand from major construction projects.
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Japan’s Purchasing Managers’ Index (PMI) for its manufacturing industry for March touched a new high since October 2018, or up for the second month by another 1.3 basis points on month to 52.7, indicating the continuing recovery among the Japanese manufacturers from the impact of the COVID-19 pandemic, according to data from au Jibun Bank Corporation.
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Chinese steel demand will be supported by steady economic recovery and high levels of infrastructure investment among local governments this year, according to Wang Yingsheng, deputy secretary general of the China Iron & Steel Association. However, demand during the coming July-December half still faces some uncertainty, especially from the property and manufacturing sectors, he warned Thursday.
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Geely Auto Group, one of China’s largest automobile manufacturers, has formed a new company to produce and market ‘premium’ intelligent electric vehicles, the company announced in a conference call on March 23. The establishment of the new brand, named Zeekr, accords with the central government’s goal to take China to carbon neutral within the next four decades, and to allow Geely to help supply some of the thriving global demand for luxury EVs, it said.
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The new vessel orders received by Chinese shipbuilders over January-February surged by 105% on year, according to the latest release from China Association of National Shipbuilding Industry (CANSI) on March 24. CANSI explained the jump on the low base during the first two months of last year – when the spreading coronavirus was impacting ship demand – and this year to the global economic recovery. Sadly, the builders recorded losses after witnessing declining profits in 2020, it noted.
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Japan’s crude steel production in February including both carbon and special steel decreased by 5.6% on year to about 7.47 million tonnes, or recording the 12nd consecutive month with an on-year decline, showed the latest data from the Japan Iron & Steel Federation (JISF) on March 22.
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China’s machinery manufacturers realized phenomenal growth in both machinery sales and unit production over the country’s 13th Five-Year Plan period spanning 2016-2020, with their export performance improving markedly, despite the blow to overseas business dealt by the coronavirus pandemic last year, according to the latest release from China Construction Machinery Association (CCMA) on March 19.
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Chinese production of white goods recorded remarkable on-year rises during the first two months of 2021, with that of air-conditioners up 70.8% on year, according to the latest data from China’s Bureau of Statistics (NBS). The impressive increases reflected the sustained robust demand this year, including overseas demand, and the low rates of manufacturing during Q1 last year.
