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China’s two top-level political annual sessions every March are always of great significance in understanding the country’s economic planning for the very year and China’s Premier Li Keqiang sent out a firm and strong signal last Friday, immediately after both the events were concluded, that the country is capable of maintaining its economic growth within a reasonable range and achieving stability in 2019.
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Domestic rebar output during the first two months of this year totalled 33.82 million tonnes, up by 10.9% year on year, according to the latest data released by China’s National Bureau of Statistics.
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Chinese steel market participants were quite contented with what their performance for the first two months of 2019 and their concern on the market outlook for this year, thus, has eased from the fourth quarter of 2018.
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China's premier Li Keqiang disclosed at the ongoing press conference in Beijing on the morning of March 15that the value-added tax on the domestic manufacturers will be cut to 13% from the present 16% with effect on April 1. A detailed report on the press conference will be posted once
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China’s fixed asset investment in China’s property market grew 11.6% on year to Yuan 1.2 trillion ($179 billion) over January-February, with the increase being 2.1 percentage point higher than that for the whole 2018, and the funding accounted for 27% of the country’s total fixed asset investment, according to the latest release by the country’s National Bureau of Statistics on March 14.
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China’s fixed asset investment (excluding rural households) increased 6.1% on year to nearly Yuan 4.5 trillion ($670 billion) for January-February, with the growth rate also up 0.2 percentage point from that for the whole 2018, according to the latest data released by the country’s National Bureau of Statistics on March 14.
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China's fixed asset investment in general grew 6.1% on year to Yuan 4.5 trillion for January-February. A detailed story will be posted soon.
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China's coke production grew 7.6% on year to 73.9 million tonnes over January-February. A detailed report will be published soon.
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China's crude steel output grew 9.2% on year to 149 million tonnes for January-February. A detailed report will be posted soon.
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China's fixed asset investment in the property market went up 11.6% on year to Yuan 1.2 trillion ($179 billion) over January-February. A detailed report will be posted soon.
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China exported a total of 9.48 million tonnes of steel products over January and February, up 12.9% on year, according to the latest statistics released by China’s General Administration of Customs (GACC) on March 8.
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China's iron ore imports fell by 5.5% on year to 174 million tonnes for January-February. A detailed story will be posted soon.
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China's steel exports rose 12.9% on year to 10.7 million tonnes for January-February. A detailed report will be posted soon.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry declined by 0.3 basis point on month to 49.2 for February, still below the threshold of 50 and indicating that manufacturing activity including that among the country’s steelmakers continued to contract, according to the latest release from China’s National Bureau of Statistics (NBS) on February 28.
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The total crude steel output for the 64 countries in the world reached 146.7 million tonnes for January, or up 1% year on year, according to the latest release by the World Steel Association (WSA).
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The Baltic Dry Index (BDI), the world’s bellwether of the dry bulk freight market, has been heading downward ever since mid-December last year, hitting a 31-month low of 595 on February 11, or down 800 base points in total amid the persistent cooling in the dry bulk markets amid the Sino-US trade friction and Vale’s tailings dam collapse on January 25, market sources said on February 14.
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For January, China’s imports of coal and lignite surged 19.5% on year to 33.5 million tonnes, and the exports of coke
and semi-coke grew 4.4% on year to 716,000 tonnes. A detailed
report will be posted.
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China's January iron ore imports decreased 9.1% on year to 91.3 million tonnes. A detailed report will be posted.
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China’s January steel exports increased 33.3% on year to 6.2 million tonnes while imports declined 1% on year to 1.2 million tonnes. A detailed report will be posted.
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China’s Purchasing Managers’ Index (PMI) for the steel industry returned to the expansion zone, scoring 51.5 after a strong month-on-month growth of 5.9 basis points or a recovery for the second month after struggling in the contraction range over November-December 2018, amid better-than-expected demand but lower output, according to the latest release by the official index compiler - CFLP Steel Logistics Professional Committee (CSLPC) on January 31.
