-
China’s fixed asset investment (excluding rural households) increased by 5.4% on year to Yuan 48.3 trillion ($7 trillion) during the January-September period, according to the latest data from China’s National Bureau of Statistics released on October 19. The yearly FAI growth was up by a slight 0.1 percentage point from that over the first eight months, Mysteel noted.
-
Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker, announced on October 15 to raise its steel scrap procurement prices by Yuan 60-80/tonne ($8.6-11.6/t), the first price adjustment in one and a half months, as it has been running at low stocks.
-
The recent announcement of People’s
Bank of China (PBOC) to cut a few commercial banks’ reserve requirement ratio
by one percentage point will surely boost the steel market sentiment, though it
remains unclear how much cash will actually be injected into the sector, industrial
sources shared on October 10.
PBOC, China’s policy bank, announced
on October
-
China’s Purchasing Managers’Index (PMI) for the manufacturing industry reversed down 0.5 basis point on month to 50.8 for September but still staying above the benchmark 50 for the 26th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on September 30.
The slow-down
-
China’s
graphite electrode market has been showing signs of recovering over the past
week, thanks mainly to tightening supplies of the crucial electric furnace
input and a stronger purchasing appetite from steelmakers, market watchers said
on Wednesday.
“Most electric-arc-furnace
(EAF) steel plants decided to procure
graphite electrodes ahead of the National Day Holiday break (October 1-7), although
the
-
China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
-
China’s fixed asset investment (excluding rural households) grew by 5.3% on year to Yuan 41.5trillion ($6.1trillion) during January to August this year, according to the latest data released by China’s National Bureau of Statistics on September14. Though FAI spending continues to increase, the NBS data show the growth rate slowing
-
China’s August
foreign trade surplus remained largely unchanged from July, posting at $27.91
billion, marginally lower than July’s $28.05 billion, according to the latest
data released by the country’s General Administration of Customs released on
September 8.
The August foreign
trade surplus was 33.5% down from nearly $42 billion a year ago, and over January-August, China’s
-
China’s Purchasing Managers’ Index (PMI) for the manufacturing industry nudged up 0.1 basis point on month to 51.3 for August, or staying above the benchmark 50 for the 25th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on August 31.
-
Other than the steel industry, coking industry has been a primary target in Beijing’s battle against air pollution too for 2018, as China’s central government has intensified the efforts in the aspect to improve the air quality in the core Beijing-Tianjin-Hebei region.
-
The anticipated slowdown in China’s and global economies will possibly pressure the prices of China’s ferrous products including steel, iron ore, and coking coal in the next two-three years, Tracy Liao, Asia Commodities Strategist from Citi Research, shared her prediction at the China International Iron Ore & Coking Coal & Coke Industry Conference in Shanghai on August 22.
-
China’s property market, a major downstream user of steel products with longs in particular, is expected to continue to lend support to the domestic steel market with its rebound in July, market sources shared on August 15.
-
China’s fixed asset investment (excluding rural households) grew by 5.5% on year to Yuan 35.6 trillion ($5.2 trillion) over January to July, according to the latest data released by China’s National Bureau of Statistics on August 14. Growth in the country’s FAI was off by 0.5 percentage point from the level witnessed during January-June and was also the slowest since 1999, NBS said.
-
China’s Purchasing Managers’ Index (PMI) for the manufacturing industry stayed above the benchmark 50 for the 24th successive month for July, indicating a continuing expansion, though the it fell by 0.3 basis point on month to 51.2, according to the latest release by China’s National Bureau of Statistics on July 31.
-
China's national economy has stayed on a healthy and steady track, with the gross domestic product (GDP) for the first half year of 2018 at Yuan 41.9 trillion ($6.3 trillion), up 6.8% on year, according to the latest release by the National Bureau of Statistics (NBS) on July 16.
-
A surge in Chinese steel prices is unlikely to occur anytime soon because the domestic steel market is facing a supply glut as a result of steadily increasing steel output, China's Iron and Steel Association predicted in its monthly report on Thursday.
-
Supplies of ferrous scrap globally will likely reach 1 billion tonnes in 2030 and 1.3 billion in 2050, with availability of this major steelmaking raw material climbing by 500 million tonnes over the coming 30 years, according to an estimate prepared by the World Steel Association (WSA) on May 3.
-
China's steel industry should avoid any expansions to capacity this year and instead, focus on better quality rather than higher quantity, according to Shen Wenrong, chairman of Shagang Group (Shagang), China's largest EAF mill and based Zhangjiagang, East China's Jiangsu province.
-
China's steel industry has managed to return to the track of concentration since 2017 thanks to Beijing's efforts in excess steel capacity cuts and environmental protection, the China Iron & Steel Association notes.
-
The most-traded September Iron Ore contract on the Dalian Commodity Exchange (DCE) closed the day trading on April 19 at Yuan 475/tonne ($76/t), up 6.5% from the previous day's settlement price on the boost of China's sound economic development in the first quarter, market sources shared.
