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Over January-July, China’s produced about 577 million tonnes of crude steel, up 9% on year, or 0.9 percentage point lower than that for H1 of 2019 because of less steel output for July, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on August 14.
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Over January-July, China's fixed asset investment (FAI) in general grew 5.7% on year to Yuan 34.9 trillion ($5 trillion), among which that in property market grew 10.6% on year, both being down 0.1 percentage point and 0.3 percentage point respectively from the first half of 2019, according to latest updates from China’s National Bureau of Statistics (NBS) on August 14.
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China's crude steel output grew 9% on year to 577 million tonnes over January-July, with the July volume up 5% on year to around 85 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.7% on year to Yuan 34.9trillion ($5trillion) for January-July, among which the funding in the property market went up 10.6% on year to Yuan 7.3trillion during the period. A detailed story will be posted soon.
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The U.S. President US Donald Trump announced to impose 10% tariffs on $300 billion Chinese goods starting September 1, which has stirred China’s stocks and steel futures market, Mysteel Global notes.
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U.S. President Donald Trump said on his latest twitter post on August 1 to put 10% duties on $300 billion Chinese goods on September 1. A detailed story with Chinese market comments will be posted later.
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China’s steel market sources and economists are not at all surprised that Beijing may not take as much effort as in the first half to stimulate the property market in H2 2019, as per the signal from the recent central government meeting.
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China is proud of its contribution to the global economy which has seen the country’s growth account for nearly one-third of global growth over the past few years, according to Hua Chunying, the spokesperson of China’s Ministry of Foreign Affairs.
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The most-traded rebar contract on the Shanghai Futures Exchange for October delivery began heading downward from Thursday after climbing for the previous three days during July 15-17. The price reached Yuan 4,001/tonne ($580/t) as of the close of Friday’s day-time trading session, down by Yuan 13/t from the prior day’s settlement price but up Yuan 36/t on week.
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Industrial growth in China’s ferrous smelting and processing sector surged by 10.3% on year during this year’s January-June half, according to data published by China’s National Bureau of Statistics on July 15. The figure doubled the yearly growth of 5% recorded over the same period last year, Mysteel Global notes.
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China’s GDP achieved a 6.3% year-on-year growth for the first half of 2019 to Yuan 45.1 trillion ($6.6 trillion), which was within Beijing’s economic growth target of 6-6.5% for this year, though the Q2 GDP growth was 0.2 percentage point lower than that for Q1, according the latest release from the country’s National Bureau of Statistics (NBS) on July 15.
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The latest data from China's National Bureau of Statistics (NBS) suggests the country could conceivably produce close to 1 billion tonnes of crude steel for the whole 2019 if the steel production kept running at nearly 10% year-on-year growth rate, though market sources dismissed the possibility.
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China's fixed asset investment (FAI) grew by 5.8% on year to Yuan 29.9 trillion ($4.3 trillion) for January-June, up 0.2 percentage point from that for January-May, while the FAI in the property market grew 10.9% on year in H1, 0.3 percentage point lower than the first five months, according to the latest data released by China’s National Bureau of Statistics on July 15.
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China's crude steel output grew 9.9% on year to 492 million tonnes over January-June, with the June volume up 10% year on year to about 87.5 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.8% on year to Yuan 29.9trillion ($4.3trillion) for January-June, among which the funding in the property market went up 10.9% on year to Yuan 6.2trillion during the period. A detailed story will be posted soon.
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China's GDP grew 6.3% on year in the first half of 2019, which was within its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China’s steel market is generally pessimistic about steel demand in the second half of this year, as the property market, a key consumer of steel products, will probably slow down, market sources share on July 12.
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The Dalian Commodity Exchange (DCE) targets to launch iron ore physical delivery by brand by the end of this year to complement the existing standardized terms so as to better serve the industrial investors, Mao Dan, manager of the Industrial Products Dept, DCE, shared on the 4th China Steel Derivatives International Conference (2019) on July 5 in Shanghai.
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The agreement reached by the presidents of China and the United States last Saturday to resume trade talks has injected fresh confidence into China’s steel market, industry insiders said on Monday, but they cautioned that fundamentals will still determine the price trends.
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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.
