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Japan’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by 0.3 basis points on month to 49 in November, or a new high since August 2019, indicating that the country has been slowly getting rid of the adverse impact of the CONVID-19, according to the release from au Jibun bank Corporation on December 1.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry recovered by 0.7 basis point to reach 52.1 in November after the small decline in October, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 30. The result shows that this weathervane of Chinese manufacturing activity has remained above the threshold of 50 connoting expansion for nine straight months and indicates that the performance recovery of the country’s manufacturing industry is accelerating, NBS said.
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Japan’s H2 grade scrap prices for both domestic sales and exports rose for the fifth week over November 23-27, up another Yen 500-1,000/tonne ($5-10/t), as the slowdown in deliveries from seller on the anticipation of further price rises had prompted buyers to pay more for supplies, scrap traders in Tokyo shared.
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China’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by 0.7 basis point on month to 52.1 for November, or above the benchmark of 50 for the ninth month, indicating the pick-up in pace of recovery in the country's manufacturing sector, according to the latest release from the country's
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China’s Purchasing Managers’ Index (PMI) for the steel industry rose by 3.5 basis points on month to 49.3 for November, with both demand and supply having shown signs of further growths for the second month, according to the latest release from the CFLP Steel Logistics Professional Committee. A detailed report
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Nippon Steel, Japan’s largest integrated mill, has restarted a banked blast furnace located in the Kimitsu Area of its East Nippon Works in Chiba prefecture, near Tokyo, to respond to improving steel demand from consumers, especially auto makers.
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Japan’s crude steel production in October including both carbon and special steel declined by 11.7% on year to some 7.2 million tonnes, making for the eighth consecutive monthly on-year decrease, according to the latest data released by the Japan Iron & Steel Federation (JISF) on November 24.
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The annual information exchange between steel industry officials in Japan and Taiwan held recently identified no major outstanding issues. “Steel trade between Taiwan and Japan is currently smooth,” an official from Japan’s Ministry of Economy, Trade and Industry (METI) commented on Tuesday. In previous years, Japanese exports of heavy sections had been a source of friction, but those tensions have eased, Mysteel Global understands.
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In a regular meeting of the State Council on November 18, China’s central government issued a clear signal that it intends to strongly lift domestic consumption of automobiles and home appliances. Chinese steel market sources believe that Beijing’s declaration of support for both sectors will help boost demand for flat steel and in turn, give their prices – already at highs for the year – another fillip.
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Japan’s all kinds of steel exports for October fell 13% on year to about 2.47 million tonnes, or the sixth consecutive month posting an on-year decline, mainly as the Japanese integrated mills had been prioritizing supplies to domestic customers, Mysteel Global understood from the preliminary data released by Japan’s Ministry of Finance on November 18.
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China’s economy has been improving steadily and despite uncertainties facing the global market, the government is confident about maintaining the consistent recovery and realizing the country’s development targets for 2020 by relying on its internal strength, Fu Linghui, spokesperson of the National Bureau of Statistics (NBS), shared at a press conference on November 16.
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Over November 9-13, Japan’s H2-grade steel scrap prices rose for the third week for domestic sales, up another Yen 500-1,000/tonne ($5-10/t) on week, and new orders from overseas also grew by Yen 2,000/t on week, in response to the higher monthly bidding prices for December deliveries, scrap traders in Tokyo shared.
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China’s fixed asset investments (FAI) both overall and in the property market specifically, accelerated to last month, growing by 1.8% and 6.3% respectively over January-October, with the former 1 percentage point higher and the latter 0.7 percentage points higher than those for the first nine months, according to the country’s National Bureau of Statistics (NBS).
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Altogether 15 countries including 13 in Asia and Australia and New Zealand signed the Regional Comprehensive Economic Partnership (RCEP) on November 15 via a virtual conference, which has created the world’s largest free trade bloc and has been great news in general to the commodities market sources, Mysteel Global noted.
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China's fixed asset investment grew 1.8% on year over January-October, or 1 percentage point higher than that for the first three quarters, among which, the funding in the property grew 6.3% on year or 0.7 percentage point higher than the gain over January-September, according to the latest release by the
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Japan’s core machinery orders from domestic users excluding shipbuilders and power equipment makers during the current quarter are forecast to drop by 1.9% on a seasonally adjusted basis from the July-September period to Yen 2.18 trillion ($20.78 billion), according to a release from the Japanese government’s Cabinet Office on November 12. The decline would make for the sixth consecutive on-quarter decline, the statement noted.
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China’s gross domestic product (GDP) may grow 2% on year for the whole 2020 should the growth for the fourth quarter approximate 6.1% on the condition that “favourable factors will outweigh the adverse ones”, Meng Chun, researcher from China’s Development Research Center of the State Council shared at the 2020 National Steel Scrap Conference on November 12 in Haikou, South China’s Hainan.
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Japan’s crude steel output including both carbon and special steel is estimated to grow to about 21.8 million tonnes over October-December, or up 14.9% on quarter, according to a release by Japan’s Ministry of Economy, Trade and Industry (METI) on November 10, indicating the continuing demand improvement.
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JFE Steel, Japan’s second largest integrated mill, will start relining the No.6 blast furnace at the Chiba area of its East Japan Works much sooner than the mill had initially scheduled, saying that by starting the work early it can start cutting production costs sooner, JFE announced on November 9.
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Over November 2-6, Japan’s domestic steel scrap prices rose for the second week by another $5/tonne as steel mills were keen to secure H2 supplies, while new export booking prices of H2 were estimated to stay flat in general with little transaction volume, scrap traders in Tokyo shared.
