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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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China’s production of the four mainstream electric home appliances continued with recovery in October, with refrigerator posting the sharpest 25.8% on year gain in production, according to the latest data from China’s National Bureau of Statistics (NBS), which was mainly due to robust demand from overseas, Mysteel Global noted.
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China’s major energy production, involving fossil-based energy and power generation, continued to grow on year in October, in step with the country’s sustained recovery of domestic industrial and economic activity, new data released by the National Bureau of Statistics (NBS) shows.
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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 run-of-mine (ROM) iron ore output over January-October rose 1.9% on year to 714.5 million tonnes in total, with the growth being slower than the 2.6% on-year rise over January-September, the latest data from the country’s National Bureau of Statistics (NBS) showed.
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Production of rebar in China totalled 23.8 million tonnes in October, up 1.5% on month or 6.5% on year, according to the latest data released by China’s National Bureau of Statistics (NBS).
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The backlog of construction orders for new ships held by Chinese shipbuilders had slipped further by end-October despite a slight recovery in new vessel orders last month, according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on November 18. Hovering below the threshold of 80 million dead weight tons (dwt) for six successive months, the yards’ backlog by the end of last month had sunk further to around 71 million dwt, CANSI reported.
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Kyoei Steel, Japan’s largest rebar producer, has decided to lift its rebar prices by Yen 3,000/tonne ($29/t) for December sales, mainly to reflect higher scrap prices and to secure sufficient steel margins for steady operations, the company announced on November 17.
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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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Japan’s sales of carbon steel products for both the domestic market and export in September rose 5.6% on year to about 5.23 million tonnes, according to the latest data released by the Japan Iron & Steel Federation (JISF) on November 16. “A clear recovery in sales has finally appeared,” a JISF official commented.
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Coal market participants in China are closely monitoring what impact a new outbreak of COVID-19 in Mongolia might have on the country’s coal exports – a crucial concern given that China is the destination of almost all Mongolian coal for export.
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China’s pig iron output approximated 742 million tonnes over January-October, up 4.3% on year or faster than the 3.8% on-year growth for January-September, though the growth rate fell behind the 5.5% on-year gain in crude steel output, according to the latest data released by the country’s National Bureau of Statistics (NBS) on November 16.
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China’s raw coal production increased moderately by 1.4% on year to 336.6 million tonnes in October, and that for coke rose 2.2% on year to 40 million tonnes last month, according to data released by the National Bureau of Statistics (NBS) on November 16.
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Nippon Steel, Japan’s largest integrated mill, expects to sell only about 620,000 tonnes of carbon and special steel seamless pipes during the current fiscal (April 2020-March 2021), down 36.1% on year, as the COVID-19 pandemic has brought oil and gas development projects in many countries to a halt.
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The on-year growth in China’s crude steel output picked up in pace over January-October, gaining 5.5% on year to 874 million tonnes as against the 4.5% on-year rise for the first nine months, though its daily crude steel output for October dropped to a low since April, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 16.
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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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In October, China produced about 337 million tonnes of raw coal for all utilization, growing 1.4% on year, and coke output increased 2.2% on year to 40 million tonnes, according to the latest release by the country’s National Bureau of Statistics. A detailed report will be posted soon.
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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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China's crude steel output grew 5.5% on year to about 874 million tonnes over January-October, with the output for October alone up 12.7% on year to 92.2 million tonnes, according to the latest release by the country's National Bureau of Statistics. A detailed report will be posted soon.
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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.
