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For March, Japan's core machinery orders from domestic users other than shipbuilders and power equipment makers increased 7.1% on month in value to Yen 869.5 billion ($6.8 billion), or the first on-month drop in three months, according to the release by the Japanese government's Cabinet Office on May 19.
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With more countries across the world embarking on infrastructure refresh initiatives such as wind power turbines, solar panels, green buildings and development of electric vehicles (EVs), demand for steel and its raw material iron ore is set to hold steady in the next couple of years, predicts Kwa Chong Seng (pictured below), Chairman of SGX Group, at the opening ceremony of Singapore International Ferrous Week 2022 that kicked off on May 17 and runs till May 20.
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Despite challenges on multiple fronts, China's steel market remained largely stable in the first three months of this year and is expected to see a recovery in steel demand in the following months, believes Qi Bin, market research department deputy director at the China Iron and Steel Association (CISA).
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Over January-April, China's fixed asset investment (FAI) increased by 6.8% on year to Yuan 15.4 trillion ($2.4 trillion), Mysteel Global noted from new data released by the country's National Bureau of Statistics (NBS) on May 16. Within the total, that in the property market declined by 2.7% on year to Yuan 3.9 trillion.
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Over January-April, China's fixed asset investment (FAI) grew 6.8% on year to Yuan 15.4 trillion ($2.3 trillion), among which that in the property market declined 2.7% on year to Yuan 3.9 trillion, according to the latest release by China's National Bureau of Statistics on May 16. A detailed report will
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Toyota Motor, Japan's largest automaker, has been forced to trim its global vehicle production for May by about 50,000 units from the previous plan due to the delay in component deliveries caused by logistics disruptions amid the ongoing COVID-induced lockdown in Shanghai, the company announced.
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For April, China's Consumer Price Index (CPI) went up 2.1% on year and 0.4% on month, while its Producer Price Index (PPI) rose 8% on year and 0.6% on month, according to the latetst data released by the country's National Bureau of Statistics (NBS) on May 11. A detailed report
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China's foreign trade value surged by 7.9% over January-April to reach Yuan 12.58 trillion ($1.98 trillion), with exports rising more significantly by 10.3% on year to Yuan 6.97 trillion and imports up 5% on year to Yuan 5.61 trillion, according to the latest data released on May 9 by the country's General Administration of Customs (GACC).
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Over January-April, China's foreign trade value posted a 7.9% on-year increase to Yuan 12.58 trillion ($1.98 trillion) in total. Within the total, China's exports value gained 10.3% on year to Yuan 6.97 trillion, and that of imports rose 5% on year to Yuan 5.61 trillion, according to the latest data
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For March, Japan's newly-launched non-timber buildings declined by 7.9% on year to 5.76 million sq m, according to the latest statistics released by the country's Ministry of Land, Infrastructure, Transport and Tourism. However, market sources believed that Japan's demand for construction steel would remain stable until late this year or even longer despite all the uncertainties.
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China's Purchasing Manager's Index (PMI) for its steel industry declined for the third consecutive month in April, down 3.8 basis points on month to score 40.5, according to new data from CFLP Steel Logistics Professional Committee (CSLPC), the authorized index. CSPLC noted that the steel sector faced mounting downward pressure last month, with disruptions caused by the COVID-19 pandemic affecting every part of the industry chain, weakening demand, tightening steel production, and sending steel prices spiralling down.
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After last month's softening of both spot and futures prices, Chinese steel prices stand a chance of rebounding in May, Wang Jianhua, Mysteel's chief analyst, shared in his monthly market outlook.
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China's Purchasing Managers' Index (PMI) for the domestic manufacturing industry declined by 2.1 basis points to 47.4 for April, marking the lowest level since February 2020, or having stayed below the 50 threshold for the second month, as manufacturing activities in many parts across China slowed down further amid the COVID-19 spread, the country's National Bureau of Statistics (NBS) shared in a new release.
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In the fiscal year of 2021 (April 2021-March 2022), Japan's eight major automakers produced approximately 23.02 million units across their global plants, down 0.4% on year and marking the third on-year decline, Mysteel Global calculated based on the latest data from each company. Among the total, auto production at their Japanese plants declined by a larger 6.8% on year to about 7.09 million units.
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During the fiscal year of 2021 (April 2021-March 2022), Japan's total carbon steel exports increased for the first time in two years, up 9.2% on year to 22.13 million tonnes, according to the latest data released by Japan Iron & Steel Federation (JISF) on April 28. A JISF official attributed the rise to the demand recovery from the COVID-19 outbreak.
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The Chinese government will promote infrastructure construction in all-around way to boost domestic economic and social development, according to a top economic meeting chaired by President Xi Jinping late on April 26.
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Sizable Chinese industrial firms saw their gross profits rise 8.5% on year during the first quarter of this year to total Yuan 1.96 trillion ($298.4 billion), with the country's mining sector providing strong impetus to the profit growth, according to the latest release by the country's National Bureau of Statistics (NBS) on April 27.
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For February, Japan's domestic carbon steel sales had declined for the sixth month by another 2.6% on year to about 3.03 million tonnes, according to the latest data released by Japan Iron & Steel Federation (JISF) on April 18. A JISF official attributed the on-month decline in Japan's steel sales to the country's continual COVID-19 outbreak in the month and slower output among domestic automakers.
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China's gross domestic product (GDP) grew 4.8% on year to Yuan 27.02 trillion ($4.24 trillion) for the first quarter of this year, with the growth rate up 0.8 percentage point from Q4 last year, indicating that the country's economy continued to recover, according to the latest release from the country's National Bureau of Statistics on April 18.
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Over January-March, China's fixed asset investment (FAI) grew 9.3% on year to some Yuan 10.5 trillion ($1.6 trillion), among which, that in the property market increased 0.7% on year to Yuan 2.8 trillion, Mysteel Global noted from data released by the country's National Bureau of Statistics (NBS) on April 18. The on-year growth in both was slower than the levels of 12.2% and 3.7% respectively over January-February.
