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China’s fixed asset investment (excluding rural households) increased by 5.7% on year to Yuan 54.76 trillion ($7.9 trillion) during the January-October period, according to the latest data from China’s National Bureau of Statistics released on November 14. The yearly FAI growth was up by another 0.3 percentage point from that during the first nine months.
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China’s National Development and Reform Commission (NDRC) has approved plans for a Yuan 53.5 billion ($7.7 billion) high-speed railway project in Southwest China’s Chongqing municipality, injecting new investment into the country’s infrastructure sector, according to an NDRC release on October 30.
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China’s foreign trade with the countries along the “Belt and Road Initiative” (BRI) route continued to grow at a faster pace, up 13.2% on year over January-September as against the 9.9% growth in China’s overall foreign trade over the period, Gao Feng, spokesperson of China’s Ministry of Commerce (MOC) commented a press conference on October 25.
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Beijing’s latest vows on financially supporting the development of micro, small-size and privately-invested enterprises have definitely boosted domestic sentiment including the steel market, but the direct benefit is expected rather limited to the steel producers, market sources shared on Wednesday.
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China’s fixed asset investment (excluding rural households) increased by 5.4% on year to Yuan 48.3 trillion ($7 trillion) during the January-September period, according to the latest data from China’s National Bureau of Statistics released on October 19. The yearly FAI growth was up by a slight 0.1 percentage point from that over the first eight months, Mysteel noted.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, announced on October 15 to raise its steel scrap procurement prices by Yuan 60-80/tonne ($8.6-11.6/t), the first price adjustment in one and a half months, as it has been running at low stocks.
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The recent announcement of People’s
Bank of China (PBOC) to cut a few commercial banks’ reserve requirement ratio
by one percentage point will surely boost the steel market sentiment, though it
remains unclear how much cash will actually be injected into the sector, industrial
sources shared on October 10.
PBOC, China’s policy bank, announced
on October
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The Hebei
Purchasing Managers’ Index (PMI) for the local steel industry in North China increased
by another 1.3 basis points on month to 50.1 in September, mainly on the back
of the production increases witnessed last month, according to the latest
release from the Hebei Metallurgical Industry Association tabled on September
30.
The reading
marked the
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China’s Purchasing Managers’Index (PMI) for the manufacturing industry reversed down 0.5 basis point on month to 50.8 for September but still staying above the benchmark 50 for the 26th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on September 30.
The slow-down
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China’s
graphite electrode market has been showing signs of recovering over the past
week, thanks mainly to tightening supplies of the crucial electric furnace
input and a stronger purchasing appetite from steelmakers, market watchers said
on Wednesday.
“Most electric-arc-furnace
(EAF) steel plants decided to procure
graphite electrodes ahead of the National Day Holiday break (October 1-7), although
the
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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China’s fixed asset investment (excluding rural households) grew by 5.3% on year to Yuan 41.5trillion ($6.1trillion) during January to August this year, according to the latest data released by China’s National Bureau of Statistics on September14. Though FAI spending continues to increase, the NBS data show the growth rate slowing
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China is making changes to the export tax system applied to a total of 397 products including finished steel and non-ferrous metals products, according to a notice from the country’s Ministry of Finance, with some items attracting rebates for the first time while others will have their existing rebates increased.
From
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China’s August
foreign trade surplus remained largely unchanged from July, posting at $27.91
billion, marginally lower than July’s $28.05 billion, according to the latest
data released by the country’s General Administration of Customs released on
September 8.
The August foreign
trade surplus was 33.5% down from nearly $42 billion a year ago, and over January-August, China’s
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China’s Shanghai Futures Exchange (SHFE) has decided to relaunch its wire rod futures contracts on October 16 after some revisions to the contract specifications and all the existing contracts will stop trading since August 31, a SHFE official confirmed on Friday.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry nudged up 0.1 basis point on month to 51.3 for August, or staying above the benchmark 50 for the 25th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on August 31.
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Other than the steel industry, coking industry has been a primary target in Beijing’s battle against air pollution too for 2018, as China’s central government has intensified the efforts in the aspect to improve the air quality in the core Beijing-Tianjin-Hebei region.
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The anticipated slowdown in China’s and global economies will possibly pressure the prices of China’s ferrous products including steel, iron ore, and coking coal in the next two-three years, Tracy Liao, Asia Commodities Strategist from Citi Research, shared her prediction at the China International Iron Ore & Coking Coal & Coke Industry Conference in Shanghai on August 22.
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China’s property market, a major downstream user of steel products with longs in particular, is expected to continue to lend support to the domestic steel market with its rebound in July, market sources shared on August 15.
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China’s fixed asset investment (excluding rural households) grew by 5.5% on year to Yuan 35.6 trillion ($5.2 trillion) over January to July, according to the latest data released by China’s National Bureau of Statistics on August 14. Growth in the country’s FAI was off by 0.5 percentage point from the level witnessed during January-June and was also the slowest since 1999, NBS said.
