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China’s National Development and Reform Commission (NDRC) has shed more light on a series of subtle and indirect economic stimulus efforts being pondered at its monthly press conference on November 15 in Beijing, and China’s steel market has sourced great support from these, as many of them relate to steel consumption.
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China’s crude steel production continued to grow over January-October, rising by 7.4% on year to 829.2 million tonnes, but the year-on-year growth was 1 percentage point lower compared with the 8.4% yearly growth recorded for the first nine months, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on November 14.
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China’s fixed asset investment (FAI) in general grew 5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, and the growth in the funding in the property sector was recorded at 10.3%, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 14.
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China's crude steel output grew 7.4% on year to about 829 million tonnes over January-October, with the October volume down 0.6% on year to 81.5 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, among which the funding in the property market went up 10.3% on year to Yuan 11 trillion. A detailed story will be posted soon.
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China and the U.S. have agreed to roll back tariffs on each other’s goods in phases “at the same time” and “by the same degree” as part of the “phase one” trade deal if it is to be reached, Gao Feng, spokesman of China’s Ministry of Commerce (MoC) confirmed at the press conference in Beijing on November 7.
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The most traded rebar contract on the Shanghai Futures Exchange (SHFE) for January delivery closed the daytime trading session Tuesday at Yuan 3,434/tonne ($490.6/t), up Yuan 59/t or 1.8% from the settlement price of Monday and marking the biggest intra-day increase in the past 1.5 months, Mysteel Global noted.
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China’s 2020 GDP growth may slow down further to around 5.8% from 6.1% this year, and the investment in property sector is expected to ease next year, Ren Zeping, Chief Economist of Evergrande Group shared his projection on October 31 at Mysteel’s 2019 Steel Value Chain Derivatives Summit in Xiamen, Southeast China’s Fujian province.
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China's October steel PMI hit a 46-month low of 41.3, down 2.9 basis points on month. A detailed report will be posted soon.
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According to World Steel Association, Russia’s crude steel production recorded at 5,900,000 MT during the month of Aug'19 as against 6,200,000 MT in July'19.
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China’s economic growth has been declining further mainly due to low rises in investments nationwide especially in the domestic real estate and manufacturing sectors, stated Zhang Liqun, the research fellow of Department of Macroeconomic Research of Development Research Center of the State Council, on the 10th China Ferroalloy Industry Conference 2019 in Hangzhou, East China’s Zhejiang province.
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China has been shifting steadily towards clean energy consumption, and over January-September, the country’s consumption of clean energy including natural gas, hydro, nuclear solar, and wind power grew 1.2 percentage points on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS).
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The U.S. Commerce Department had issued a final anti-dumping ruling against imports of stainless steel rods from India claiming that the Indian producers and exporters had sold the stainless steel rods below the normal rates in the U.S during the period under review 1 Feb’17 to 31 Jan’18. But the final duty announced by the U.S. is lesser against the preliminary duties imposed in the month of April this year.
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China’s GDP grew 6.2% on year over January-September, still within Beijing’s 6-6.5% economic growth target for 2019, though the growth for Q3 fell another 0.2 percentage point from Q2 to 6% on year, or a new low after Q2 since China started the GDP statistics in 1992, according to the latest statistics from the country’s National Bureau of Statistics on October 18.
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China’s crude steel production still grew over January-September, but at a lower 8.4% year-on-year rate than the 9.1% annual rise for the first eight months, totalling 748 million tonnes, Mysteel Global noted from the latest statistics released by the country’s National Bureau of Statistics (NBS) on October 18.
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China's fixed asset investment (FAI) in general grew 5.4% on year to Yuan 46.1 trillion ($6.5 trillion) over January-September, down 0.1 percentage point from that for the first eight months, while the funding in the property market maintained its growth at 10.5% on year, the same as that for January-August, according to the latest release from the country’s National Bureau of Statistics (NBS) on October 18.
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China's gross domestic products (GDP) grew 6.2% on year for the first three quarter of 2019, and its fixed asset investment grew 5.4% on year over January-September, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China's crude steel output grew 8.4% on year to 747.8 million tonnes over January-September, with the September volume up 2.2% on year to around 82.8 million tonnes. A detailed report will be posted soon.
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The World Steel Association (WSA) raised its projection for the global steel demand growth for 2019 to 3.9% on year to about 1.8 billion tonnes from the original 1.3% year-on-year forecast in April, which is also higher than the 2.1% yearly growth for 2018, according to WSA’s release on short-range outlook.
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China’s import and export value reached Yuan 22.91 trillion ($3.2 trillion) over January-September, up 2.8% on year, according to data released by China’s General Administration of Customs (GACC) on October 14.
