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Dhamra Port Company Ltd. has declared force majeure amid the deadly Novel Corona Virus Disease (COVID 19) which has erupted worldwide and declared Global Pandemic by WHO, SteelMint learned from its sources. The force majeure is put to effect from 07:00 hrs on 22nd Mar’20.
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March 25 was the date when Hubei in Central China returned to the national connection network with the gradual resumption of its road, rail and air transportation. For the prior two months since January 23, the province had been in lockdown starting from Wuhan, the epicentre of the COVID-19, to prevent the contagion spreading nationwide.
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China’s fixed asset investment (FAI) had been hit hard by the outbreak of COVID-19 across the country over the first two months, having plunged 24.5% on year, or a free fall from the 5.4% year-on-year growth for the whole 2019, and the FAI in the property market also plummeted 16.3% on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
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China’s fixed asset investment (FAI) plunged 24.5% on year over January-February, and that in the property market plummeted 16.3% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China’s foreign trade slumped to a serious deficit of Yuan 42.6 billion or $7.09 billion for the first two months of 2020, as against a surplus of Yuan 293.5 billion or $41.45 billion a year ago, because of the prolonged Chinese New Year holiday and the virus outbreak, China’s General Administration of Customs explained on March 7.
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Click here for the first part of the feature
Heavy-duty trucking needs more time back to full mode
When steelmaking raw materials transportation
by water and by rail has been steadily and gradually recovering to their normal
levels since early February especially in the past two weeks, iron ore
transhipment from sea ports to
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If the Chinese steel mills only needed the raw materials supplies to pick up so that they could run smoothly, then the recent progress in the domestic logistics service since mid-February should have been rather enchanting.
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
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China’s central government has called for “business resumption, especially in key industries, as soon as possible”, even though the battle against the Novel Coronavirus Pneumonia (NCP) is still ongoing, senior officials from four top-level governing bodies including the National Development and Reform Commission (NDRC) stated at a joint press conference in Beijing on February 11.
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China’s General Administration of Customs announced on February 7 that it will release January-February cumulative data in March starting 2020.
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Lian Weiliang, vice head of China’s National Development and Reform Commission (NDRC), emphasized at a press conference on February 3 in Beijing that the impact of the Novel Coronavirus (2019-nCoV) outbreak on China’s economy will be temporary and short-term.
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China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry inched down to the brink of the expansion zone, falling 0.2 basis point on month to 50 for January without taken into consideration of the impact of the Novel Cornavirus (2019-nCoV) outbreak, according to the latest release from China’s National Bureau of Statistics (NBS) on January 31.
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China’s Purchasing Managers’ Index (PMI) for the steel industry recovered 4 basis points on month to 47.1 for January, indicating an overall stable market, however, “the outbreak of the Novel Coronavirus (2019-nCoV) will affect both the steel production and demand in the near term”, the official index compiler CFLP Steel Logistics Professional Committee (CSLPC) warned in its release on January 31.
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January 31 was supposed to be the day when most Chinese employees would have returned to work, happy and refreshed, after the official holiday over January 24-30 for the Chinese New Year (CNY) celebrations. Not for 2020, though, as Beijing has announced that the holiday will be extended until February 2.
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For 2019, China’s gross domestic product grew 6.1% on year to Yuan 99 trillion ($14 trillion), with the final result coming within the central government’s targeted range for last year of 6-6.5%, according to National Bureau of Statistics (NBS) data released on the release on January 17. “Most of the tasks were fulfilled, laying a solid foundation for China to develop into a well-off society,” NBS commented.
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Fixed asset investment (FAI) in China’s manufacturing sector grew by a total of 5.4% on year during full year 2019, up 0.2 percentage point from the first eleven months, according to the latest data from the National Bureau of Statistics (NBS) released on Friday. FAI in the domestic property market increased by 9.9% on year during January-December, though this was off by a tiny 0.3 percentage point from the January-November reading, the data show.
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China’s fixed asset investment (FAI) grew 5.4% on year for 2019 among which the FAI into property market up 9.9% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China’s gross domestic product (GDP) grew 6.1% on year for 2019 to Yuan 99 trillion ($14 trillion), according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China and the US trade tension has shown signs of easing as the two countries signed their phase-one economic and trade agreement on January 15 (Washington time) after nearly two years of trade frictions and talks, according to a news report by Xinhua News Agency on January 16.
