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March 25 was the date when Hubei in Central China returned to the national connection network with the gradual resumption of its road, rail and air transportation. For the prior two months since January 23, the province had been in lockdown starting from Wuhan, the epicentre of the COVID-19, to prevent the contagion spreading nationwide.
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China’s domestic rebar output recorded a 2.2% on-year drop during January-February to 34 million tonnes, according to the latest data released by China’s National Bureau of Statistics (NBS). Industry observers cited the longer Chinese New Year holiday period, prolonged by the outbreak of COVID-19, as well as ensuing transportation curbs and lockdowns across the country as reasons for the dip in output.
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Chinese production of air conditioners, refrigerators, televisions and washing machines plunged during the first two months of 2020, mainly as a result of the overall impact of COVID-19 on the operations of domestic industrial enterprises.
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China’s crude steel output growth had slowed down substantially over January-February to 3.1% on year to 154.7 million tonnes, as against the 8.3% year-on-year growth for 2019, based on the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
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China’s fixed asset investment (FAI) had been hit hard by the outbreak of COVID-19 across the country over the first two months, having plunged 24.5% on year, or a free fall from the 5.4% year-on-year growth for the whole 2019, and the FAI in the property market also plummeted 16.3% on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
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China’s fixed asset investment (FAI) plunged 24.5% on year over January-February, and that in the property market plummeted 16.3% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China's crude steel output grew 3.1% on year to about 154.7 million tonnes over January-February. A detailed report will be posted soon.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China’s foreign trade slumped to a serious deficit of Yuan 42.6 billion or $7.09 billion for the first two months of 2020, as against a surplus of Yuan 293.5 billion or $41.45 billion a year ago, because of the prolonged Chinese New Year holiday and the virus outbreak, China’s General Administration of Customs explained on March 7.
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China’s steel exports over January-February slumped 27% on year to around 7.8 million tonnes, according to the latest release of China’s General Administration of Customs, which has caught the Chinese market participants by surprise with few expecting the decline to be so substantial.
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China’s steel exports slumped 27% on year to 7.81 million
tonnes over January and February. A detailed report will be posted soon.
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China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry contracted to 35.7 for February, or the record low since the National Bureau of Statistics (NBS) started releasing the index since January 2005, as the ongoing battled against the novel coronavirus disease (COVID-19) seriously undermined the sector’s operations, according to the latest report from NBS.
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The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s largest steel production base, dropped further to just 38.1 in February, reflecting the almost stagnant demand from steel users amid the country’s ongoing battle against the novel coronavirus disease (COVID-19), according to the latest release by the Hebei Metallurgical Industry Association on March 1.
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Crude steel production among the 64 countries surveyed monthly by World Steel Association (WSA) totalled 154.4 million tonnes in January, up 2.1% on year, according to the latest statistics of WSA published on February 25. China, the world’s top steelmaking country, posted 7.2% year-on-year growth, the association calculated, though steel output from some other major steel producing countries declined.
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China’s January sales of excavators at the domestic market and exports fell on year for the first time since last June, down 15.4% on year to 9,942 units, according to the latest data released by the China Construction Machinery Association (CCMA) on February 19, because of a shorter working month with the Chinese New Year (CNY) holiday in late January and substantial declines in domestic sales.
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China’s central government has called for “business resumption, especially in key industries, as soon as possible”, even though the battle against the Novel Coronavirus Pneumonia (NCP) is still ongoing, senior officials from four top-level governing bodies including the National Development and Reform Commission (NDRC) stated at a joint press conference in Beijing on February 11.
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China’s General Administration of Customs announced on February 7 that it will release January-February cumulative data in March starting 2020.
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The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s largest steel production base, slipped further in January with the weak demand from downstream users, down another 0.5 basis point month on month to 47.7, according to the latest release by the Hebei Metallurgical Industry Association on February 1.
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Lian Weiliang, vice head of China’s National Development and Reform Commission (NDRC), emphasized at a press conference on February 3 in Beijing that the impact of the Novel Coronavirus (2019-nCoV) outbreak on China’s economy will be temporary and short-term.
