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Last year’s high margins in the Chinese steel industry is unlikely to repeat in the next few years due to the serious challenges brought by the complicated domestic and international environments, Qu Xiuli, vice chairman of the China Iron and Steel Association (CISA) stated at the Asia Steel Forum in Shanghai on September 18.
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China’s domestic rebar output experienced a second month-on-month decline last month, easing by nearly 3% from July to 21.9 million tonnes, according to the latest breakdown report from China’s National Bureau of Statistics (NBS). Year-on-year, August output was still higher by 17.1% – the fastest growth among all the finished steel products NBS canvassed last month – though this was still the slowest since March, being down by 9 percentage points on July, according to the NBS data.
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China’s national economy maintained steady progress up to August, weathering a challenging environment with a mixture of gains and small declines, according to Fu Linghui, spokesperson of the National Bureau of Statistics.
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Industrial growth in China’s domestic ferrous smelting and processing sector rose by 10.4% on year last month, up by 0.2 percentage point from July, according to the latest National Bureau of Statistics (NBS) data published Monday. Growth in the sector in August was the fastest among all the 41 industries NBS monitors.
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China’s pig iron production rebounded in August after a two-month decline, rising by 2.86 million tonnes or 4.2% on month to 71.17 million tonnes, according to the latest data released by the country’s National Bureau of Statistics (NBS) on September 16. The total tonnage was also up by 7.1% on year, the data show.
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China’s total sales of excavators and other heavy machinery over January-August jumped by 14.4% on year to 163,396 units, according to a September 12 release by China Construction Machinery Association (CCMA). For August alone, sales surged by 19.5% on year to 13,843 units, the data shows.
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China's fixed asset investment (FAI) in general grew 5.5% on year to Yuan 40.1 trillion ($5.6 trillion) for January-August, with the growth slowing down 0.2 percentage point from January to July. Investment in the property market grew 10.5% on year over the eight months, though this too was down 0.1 percentage point from January to July, according to the latest updates from China’s National Bureau of Statistics (NBS) released on September 16.
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China’s daily crude steel output in August reversed up after a short-lived retreat in July, growing by 2.4% from July’s four-month low to reach 2.82 million tonnes/day, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on September 16.
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China's crude steel output reversed up 2.4% on month to 2.82 million tonnes/day in August, and the total volume for the first eight months grew 9.1% on year to around 665million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.5% on year to Yuan 40.1trillion ($5.6trillion) for January-August, among which the funding in the property market went up 10.5% on year to Yuan 8.5trillion during the period. A detailed story will be posted soon.
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China’s auto sales were still under downward pressure over January-August, though the year-on-year decline narrowed to 11% on year as against the 11.4% for the first seven months, Mysteel Global noted from the latest statistics from the China Association of Automobile Manufacturers (CAAM) on September 11.
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It is rather interesting to see different interpretations inside and out of China whenever the world’s second largest economy releases economic-related figures, and its latest foreign trade release for the first eight months of 2019 has been a vivid example.
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China exported some 45 million tonnes of steel over the first eight months of 2019, or down 4.4% on year, according to the latest data released by China’s General Administration of Customs (GACC) on September 8, with the decline being more substantial than the 2.9% on year for the first seven months, Mysteel Global noted.
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China's steel exports declined 4.4% on year to just below 45million tonnes for January-August. A detailed report will be posted soon.
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Total sales of heavy-duty trucks across China in the 14~100 tonnes class during the first eight months of this year amounted to 805,200 units, representing a decline of 2% on year, according to the latest data from Beijing-headquartered Commercial Vehicle World (CVWorld) published on September 2.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry retreated 0.2 basis point on month to 49.5 for August, as production continued with the expansion, while demand was under pressure, according to the latest report from China’s National Bureau of Statistics (NBS) released on August 31.
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China’s Purchasing Managers’ Index (PMI) for the steel industry for August hit a new low since December 2015, reaching 44.9 amid imbalance in the fundamentals, steel price declines amid higher production and stocks while the growing challenges in sales, according to the latest release on August 31 by the official index compiler CFLP Steel Logistics Professional Committee (CSLPC).
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The gross profits which China’s domestic ferrous smelters and processors earned during January-July declined again from their January-June performance, falling by another 25.1% on year to Yuan 167.6 billion ($23.6 billion), according to the latest report released by China’s National Bureau of Statistics. However, the seven-month decline was even larger than the 21.8% on-year fall recorded for the first half of the year, Mysteel Global notes.
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The 64 countries under the monthly survey of the World Steel Association (WSA) produced 156.7 million tonnes of crude steel last month, higher by a mild 1.7% on year, which was 2.9 percentage points slower than the on-year output growth in June, according to the association’s latest monthly report.
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China’s State Council Tariff Commission will impose 5% and 10% tariffs on the U.S. goods worth $75 billion on or 5,078 items in two batches respectively on September 1 and December 15 as the countermeasures to the U.S. announcement on the 10% tariffs on Chinese goods worth $300 billion also in two batches on these two dates.
