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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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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 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 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.
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Production of air conditioners, washing machines, refrigerators, and televisions among Chinese home appliance makers increased over January-March, with output of air-conditioners witnessing a particularly significant rise, according to the latest data released by China’s National Bureau of Statistics (NBS) on April 18.
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Sales of construction equipment recorded by China’s 25 leading excavator makers totalled 44,278 units in March, up by a significant 15.7% on year, according to the latest statistics released by the China Construction Machinery Association (CCMA) on April 8.
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Stocks of finished vehicles awaiting sale across China remained high in March, with the Vehicle Inventory Alert Index at 55.3 last month, marking the fifteenth month in succession that stocks have been above the alert level, although the result was a notable 8.3 basis points lower than in February, the latest statistics from China Automobile Dealers Association (CADA) showed.
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Chinese domestic sales of heavy trucks in the 14- to 100-tonnes class reached an all-time high in March, traditionally the best month for heavy truck business, with total sales reaching 144,000 units, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on April 1. The result marked an increase of 4% on year and an 85% leap from February, it noted.
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Beijing is mulling adjusting its regulating efforts in the country’s property market by allowing the local authorities to take the lead so as to maintain the market’ vigour, Ren Xingzhou, a researcher with the Institute of Market Economy, Development Research Center of China, disclosed when addressing the delegates at the 17th International Steel Market and Trade Conference on March 28 in Nanjing, East China’s Jiangsu province.
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China will likely consume 850-900 million tonnes of crude steel this year, Chi Jingdong, vice chairman of China Iron and Steel Association, predicted at the association’s 17th International Steel Market and Trade Conference held in Nanjing on March 28.
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China’s decision to reduce the value-added tax on manufacturers to 13% on April 1 from the prevalent 16% may not definitely lead to lower prices of ferrous products including iron ore and steel or downstream products such as auto, market sources said on Monday and Tuesday.
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China’s domestic sales of heavy trucks in the 14- to 100-tonnes class reached 75,000 units in February, a seven-year second high for February business though last month’s total was 24% lower than sales in January, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on March 4.
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China’s Premier Li Keqiang drafted a few economic development targets including a gross domestic product (GDP) growth at 6-6.5% and proposed a series of measures to support the domestic economic performance for 2019 when delivering his government report at the National People’s Congress annual session on March 5.
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China’s Purchasing Managers’ Index (PMI) for the steel industry fell back by 0.9 basis point from January to 50.6 in February after posting strong month-on-month growth of 5.9 basis points in January from December, according by the official index compiler, CFLP Steel Logistics Professional Committee (CSLPC). Nevertheless, the result was still on the positive side of the 50-threshold which connotes growth, Mysteel notes.
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China’s return to work following the Chinese New Year holiday ending on February 10 has witnessed a flurry of announcements from provincial and city governments heralding the launch of public works projects, including many related to transportation infrastructure. The hotter-than-usual infrastructure activity is seen as helping to shore up domestic steel demand in 2019 when pundits are warning that steel will struggle this year.
