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The key steelmaker members of the China Iron & Steel Association (CISA) sold a total of 56.3 million tonnes of finished steel products in May, making for a 5% rise on year, according to CISA’s latest monthly transaction report. Last month’s result took total sales during January-May to 261 million tonnes, higher by 8.8% on year.
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China Premier Li’s recent calling for the acceleration in upgrading old residential housing in urban areas, and improving the grid network and drinking water safety in rural areas are interpreted good news to fixed asset investment and domestic steel sector may benefit too in turn, market sources shared.
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The 64 countries under the World Steel Association’s monthly survey posted a total of 162.7 million tonnes of crude steel production in May, or up 5.4% on year, according to the official data from WSA released on June 24.
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Indonesia, one of the fastest growing economies in the ASEAN-6 country grouping, will make greater efforts this year to boost capacity utilization for long steel products such as rebars to reduce the country’s reliance on imports, according to Setiawan Surakusumah, Director of Strategic Development & Technology with the Indonesian Iron & Steel Industry Association.
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Philippines’ domestic steel community expects the benefits from the government’s preferential policies and more funding in the country’s public construction this year, Ronald C. Magsajo, Chairman of Statistics Committee of Philippine Iron & Steel Institute, shared at the 2019 SEAISI Conference & Exhibition in Bangkok of Thailand on June 18.
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The ASEAN region could become a net exporter of steel products within the next five to ten years as the potential for over-capacity in the region could tilt the balance of steel fundamentals, Matthew Poole, the Divisional Director of CRU Consulting, said on the 2019 SEAISI Conference & Exhibition held in Bangkok, Thailand on June 17.
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Malaysia’s steel market remains challenging this year amid the most probably only modest growths in GDP and the construction sector, Ng Kian Hin, Director, Group Business Development of Hiap Tech Venture Bhd, shared at the 2019 SEAISI Conference & Exhibition on June 17 in Bangkok, Thailand.
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China’s crude steel output in May grew by 10% on year to reach 89.1 million tonnes, with the average daily steel output rising by another 1.4% on month to reach a new high of 2.87 million tonnes/day, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on June 14.
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China's overall fixed asset investment (FAI) grew by 5.6% on year to Yuan 21.76 trillion ($3.15 trillion) for January-May, though the five-month growth was lower by 0.5 percentage point from growth during January-April, according to the latest data released by China’s National Bureau of Statistics on Friday.
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China's crude steel output grew 10.2% on year to nearly 405 million tonnes over January-May, with the May volume up 10% year on year to about 89 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.6% on year to Yuan 21.76trillion ($3.15trillion) for January-Mayand the funding into the property market went up 11.2% on year to Yuan 4.6trillion during the period. A detailed story will be posted soon.
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China’s central government has given a strong confidence boost to the country’s steel market by vowing to encourage local governments and financial institutions to use special bonds and other market-based financing methods to support key areas and major projects including infrastructure.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry continued to dive in May, down another 0.7 basis point on month to 49.4, falling below the threshold of 50 according to the latest release by China’s National Bureau of Statistics (NBS) on May 31.
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China’s economy and financial system will be able to withstand the impact of the ever-escalating Sino-US trade friction, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) confidently predicted on May 28 during an exclusive interview with Xinhua News Agency and People’s Daily.
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North China’s Shanxi province, the top coke and the second largest coal mining province in the country, aims to realise 80% rail service for its coal and coke transportation in and out of the province by 2020, according to a recent government notice.
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Industrial growth in China’s ferrous smelting and processing sector in April jumped by 11.5% on year, according to the latest data from China’s National Bureau of Statistics released on Wednesday. The figure was also some 3 percentage points higher from that in March and took the average over the first four months of this year to a fairly robust 8.9% on year, the statistics show.
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China will raise the tariffs on some of the $60 billion worth of the US goods to a maximum of 25% starting June 1, according to an announcement from Customs Tariff Commission of the State Council on the evening of May 13 Beijing time.
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China’s crude steel output rose at a fast pace of 10.1% on year over January-April to reach some 315 million tonnes, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on May 15.
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China’s fixed asset investment (excluding rural households) over January to April grew by a healthy 6.1% on year to Yuan 15.57 trillion ($2.3 trillion), though growth over the four months slowed by 0.2 percentage point compared with January-March, according to new data from China’s National Bureau of Statistics released on May 15.
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China's fixed asset investment in general grew 6.1% on year to Yuan 15.57trillion ($2.3trillion) for January-April and the funding into the property market went up 11.9% on year to Yuan 3.4 trillion during the period. A detailed story will be posted soon.
