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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 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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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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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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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.
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Chinese production of rebars in May reached 17.7 million tonnes, jumping by 3.6% on year, according to the latest data released by the China's National Bureau of Statistics (NBS). Industry sources attributed the increase mainly to steelmakers beefing up production to enjoy the rosy margins available, rather than any response to an uptick in demand.
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China's major shipbuilders enjoyed a healthy 100% on-year surge in new vessel orders during the January-May period of this year to 19.7 million deadweight tons, according to the latest statistics released by China Association of the National Shipbuilding Industry (CANSI) on June 13.
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China's daily crude steel output nationwide during May 21-31 was estimated at 2.49 million tonnes/day, which reversed down from the previous ten days by 1.9% or 48,400 t/d, according to the latest data released by the China Iron & Steel Association (CISA) on June 12.
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China's auto sales grew 5.7% on year over January-May and manufacturing up 3.8% on year, both being higher than the increases in January-April, according to the statistics from the China Association of Automobile Manufacturers (CAAM).
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An unforeseen consequence of the nationwide blitz on environmental facilities launched by the Chinese government in late May is proving to be the lift the crackdown is bringing to steel prices. Traditionally, the summer months of June through August are dire for steel traders and steel mills alike as wet season rains across much of the country in June slow construction and hamper distribution, and the two months of summer heat which immediately follow the rains encourage lethargy.
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China's Purchasing Manager's Index (PMI) for the steel industry reversed down in May, dipping by 1.1 basis points on month to 50.6, according to the latest report of CFLP Steel Logistics Professional Committee (CSLPC) on May 31.
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China's property market is expected to maintain its steady pace in prices, destocking and fixed asset investment for 2018, Liu Aihua, spokesperson of China's National Bureau of Statistics reassured the reporters at a recent press conference on China's economic performance for April.
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China's daily crude steel output for April hit a record high at 2.557 million tonnes/day basing on the latest data released by China's National Bureau of Statistics on May 15, but it is not as alarming as it sounded, as domestic steel market and prices have so far been holding well, according to the market sources.
