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Mysteel's national average price of 500mm UHP graphite electrodes in East China's Jiangsu province, the country's core electric-arc-furnace (EAF) steelmaking market, declined by a total of Yuan 200/tonne ($29.9/t) on month to Yuan 99,000/t including the 16% VAT as of July 13. Demand among EAF mills was severely dampened by the arrival of high temperatures and heavy rains in late June which heralded the arrival of the slack season (June-August) for steel production.
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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.
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China's pig iron production over the first half of 2018 inched up 0.5% on year to 372.8 million tonnes, according to the latest data from China's National Bureau of Statistics published on July 16. However, crude steel output over the same period jumped by 6% on year to 451.16 million tonnes, NBS noted.
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China produced 36.1 million tonnes of coke in June, 1% down on month and 4.7% lower on year, according to a post by China's National Bureau of Statistics (NBS) on July 16. Over January-June, China's total coke output declined 3.2% on year to 212 million tonnes, the statistics show.
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China's fixed asset investment (excluding rural households) continued to increase though at a slightly slower rate of 6% on year to about 29.7 trillion ($4.4 trillion) over January-June or down 0.1 percentage point than January-May, according to the latest data from National Bureau of Statistics (NBS) on July 16.
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China's iron ore imports for the first half of 2018 reversed down 1.6% on year to 530.7 million tonnes, according to the latest statistics released by the country's General Administration of Customs on July 13, which was steeper than the 0.1% decline for the first quarter but within market expectation.
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Production and sales of automobiles in China continued to grow in June but at a slower pace compared with same month last year, climbing by 5.8% and 4.8% on year respectively, according to the latest statistics from China Association of Automobile Manufacturers (CAAM) tabled on July 11.
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The global price of iron ore from all origins is forecast to average the equivalent of US$59/tonne FOB Australia (62% Fe grade) this year, some 7.2% lower than the 2017 average, according to a report released by the Australian Government's Department of Industry, Innovation and Science on July 2.
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China's Purchasing Managers' Index (PMI) for the steel industry reversed up 1 basis point on month to 51.6 in June, making for the fourth straight month in the expansion zone, according to index compiler, CFLP Steel Logistics Professional Committee (CSLPC).
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Vietnam's steel demand is expected to grow moderately by 4% on year in 2018, as the country's GDP growth is expected to remain largely steady at around 6.7%, Chu Duc Khai, Vice Chairman and General Secretary of Vietnam Steel Association, said at the 2018 SEAISI Conference & Exhibition on June 26 in Jakarta, Indonesia.
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Philippines' steel industry will continue to find support from a steady 6.8% gross domestic product (GDP) growth in 2018, Ronald C. Magsajo, Chairman of Statistics Committee of Philippine Iron & Steel Institute, said at the 2018 SEAISI Conference & Exhibition on June 25 in Jakarta, Indonesia.
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Taiwan's gross domestic product (GDP) will see moderate growth of 2.42% this year, a performance that augurs well for steel consumption, according to Liang-Ching Chen, secretary of the Taiwan Steel & Iron Industry Association's International Affairs Committee.
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Thailand's apparent steel consumption is expected to once again begin tracking upwards this year to grow by a sizzling 13.2% on year to about 18.8 million tonnes amid the country's accelerating economic growth and construction-sector recovery, Wirote Rotewatanachai, President of Iron & Steel Institute of Thailand, said at the 2018 SEAISI Conference and Exhibition on June 26 in Jakarta, Indonesia.
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Total profits enjoyed by members of China's domestic ferrous metal smelting and processing community surged by 114.7% year on year to Yuan 152.6 billion ($23.1 billion) over the first five months this year, according to the latest data from China's National Bureau of Statistics (NBS) released on June 27.
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Indonesia's steel industry is expected to stay on the uptrend in 2018 as the country with experience a higher economic growth at 5.1% on year this year, mainly on the support of domestic infrastructure construction, Mas Wigrantoro Roes Setiyadi, chairman of Indonesia Iron and Steel Industry Association stated at the 2018 SEAISI Conference & Exhibition on June 25 in Jakarta, Indonesia.
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Singapore, a steel business hub in the ASEAN region, is expected to see its steel trading volume grow this year thanks to improved steel demand from neighbouring ASEAN countries, according to Eugene Ng, Head of Strategy & Business Development at steelmaker NatSteel Holdings.
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China's total imports of coking coal and manganese ore and concentrates each posted month-on-month and year-on-year increases in May, according to statistics released by the country's General Administration of Customs.
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China's imports of steel scrap in May surged by 80,000 tonnes or 67% on month to 200,000 tonnes, according to the latest data released by China's General Administration of Customs on June 23.
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Crude steel output among the 64 countries surveyed by the World Steel Association rose by 6.6% year on year to 154.86 million tonnes in May, according to the latest data published by the World Steel Association (WSA) on June 25. The volume was also 4.4% or 6.5 million tonnes higher from April.
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New data from the National Bureau of Statistics (NBS) shows China's production of the four key white goods items surged again on-year in May, traditionally the start of the peak season for consumption of goods such as air conditioners and televisions.
