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Capacity utilization in China’s domestic ferrous metals smelting and processing sector gained 2.3 percentage points year on year to 79.2% over this year’s January-March quarter, according to National Bureau of Statistics data released on Wednesday. This was also 1.2 percentage points higher that last year’s full-year average.
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The most-traded contract for rebar on the Shanghai Futures Exchange for October delivery declined by Yuan 71/tonne ($10.6/t) from Wednesday’s settlement price, closing at Yuan 3,710/t at the end of day-time trading on Thursday. Market pundits blamed the sudden plummet in iron ore futures prices on Wednesday for unnerving some investors.
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The better performance in China’s property market over January-March is expected to boost the long steel market enthusiasm on anticipated consumption increase in the coming months, according to market sources.
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The world’s steel demand for 2019 is expected to grow at a slower pace of 1.3% year on year to 1.74 billion tonnes amid the slowing global economy, down from the 2.1% annual growth for 2018, the World Steel Association (WSA) shared in its April 2019 Short Range Outlook (SRO).
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China’s fixed asset investment in the domestic property market rose by 11.8% year on year to Yuan 2.38 trillion ($355.2 billion) over January-March, though the rate of growth was only 0.2 percentage point higher from that during January-February, according to the latest data from China’s National Bureau of Statistics published on April 17.
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China’s crude steel output rose at a faster pace of 9.9% on year over January-March to about 231 million tonnes, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on April 17,
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China’s fixed asset investment (excluding rural households) increased 6.3% on year to Yuan 10.2 trillion ($1.5 trillion) over January-March, with the growth rate up 0.2 percentage point from that for January-February, according to the latest data from the country’s National Bureau of Statistics (NBS) on April 17.
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China’s gross domestic product (GDP) grew 6.4% on year to Yuan 21.3 trillion ($3.2 trillion) for the first quarter of 2019, kicking off the year with a positive and steady note, according to the latest release by the country’s National Bureau of Statistics (NBS) on April 17.
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China's crude steel output grew 9.9% year on year to 231 million tonnes for January-March. A detailed report will be posted soon.
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China's fixed asset investment in the property market went up 11.8% on year to Yuan 2.38trillion ($355 billion) over January-March. A detailed report will be posted soon.
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China's GDP grew 6.4% on year in the first quarter of 2019, falling in its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China's fixed asset investment in general grew 6.3% on year to Yuan 10.2 trillion ($1.5 trillion) for January-March. A detailed story will be posted soon.
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China’s total steel exports over this year’s first three months reached 17 million tonnes, representing a significant rise of 12.6% or 1.9 million tonnes on year, according to data from China’s General Administration of Customs (GACC) on April 12.
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China's steel exports rose 12.6% on year to 17 million tonnes for January-March. A detailed report will be posted soon.
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Daily crude steel output among the 97 major Chinese steel mill members of the China Iron and Steel Association (CISA) reversed down 3.6% or 67,700 tonnes from prior ten days to 1.83 million tonnes over March 21-31, according to CISA’s latest release on April 10.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry returned to the expansion zone in March, having rebounded 1.3 basis points on month to 50.5, and both the production and demand recovered, according to the release by China’s National Bureau of Statistics (NBS) on March 31.
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The slump in profits which Chinese ferrous smelters and processors suffered over January and February emerged as the second sharpest among all the industries regularly tracked by China’s National Bureau of Statistics, new NBS data published Wednesday indicated. The largest decline was among enterprises above a designated scale in the fuel processing industry, the data showed.
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Crude steel output among the 64 countries regularly tracked by the World Steel Association increased 4.1% year on year to 137.3 million tonnes in February, according to the WSA’s latest data published on March 26.
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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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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.
