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China’s fixed asset investment (excluding rural households) grew by 5.5% on year to Yuan 35.6 trillion ($5.2 trillion) over January to July, according to the latest data released by China’s National Bureau of Statistics on August 14. Growth in the country’s FAI was off by 0.5 percentage point from the level witnessed during January-June and was also the slowest since 1999, NBS said.
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The continued strong growth in sales of excavators in China last month, which were up 45% on year, took total sales over the January-July period to 131,246 units, a large 59% improvement on year, according to the latest statistics released by the China Construction Machinery Association (CCMA) on August 6. The CCMA’s survey canvasses the performance of China’s twenty-five leading excavator makers.
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The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province dropped by another 2.38 basis points on month to 45.8 in July, hitting a nine-month low, according to an August 1 release by the Hebei Metallurgical Industry Association.
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Shanxi Taigang Stainless Steel Co, a top stainless producer in China, has decided to slash its list price for 300- and 400-series cold-rolled stainless steel products by Yuan 200/tonne ($32/t) for April sales on noting the remaining lukewarm domestic stainless market, a company official confirmed on April 3.
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China's February finished steel exports rebounded by 197,000 tonnes or 4.2% month on month to 4.85 million tonnes, according to the latest statistics released by China's General Administration of Customs on March 8.
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The European Commission (EC) has finished its review investigation concerning imports of seamless pipes and tubes of stainless steel originating from China, and decided to extend the existing anti-dumping measures for another five years.
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China's special steel market will see a bright 2018 on stronger demand against tighter supply compared with last year, according to Chen Qiang, general manager of one of the country's largest special steel trading firms, Shanghai Qiangqi Trading Co.
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Special steel production in Japan over January-March is forecasted to rise by a tiny 0.4% from October-December to 4.97 million tonnes, according to the country's Ministry of Economy, Trade and Industry (METI). However, the current quarter's output will be 0.6% lower than a year ago, Mysteel notes.
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China's excavator sales continued to stay robust in the first month of 2018, with the volume having spiked 135% on year to 10,687 units in January, according to the latest statistics released by China Construction Machinery Association (CCMA) on February 9.
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Japan's exports of iron, steel, and ferroalloys reached 38.13 million tonnes, or down 6.5% on year, according to the data released by the Japan Iron & Steel Federation on January 31.
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China has become the top trading partner to 16 out of the 25 Asian countries and has deepened its financial and economic cooperation with Asian countries, according to an annual report of Ministry of Commerce (MoC) released on January 11, which is partly thanks to China's "Belt and Road Initiative", Mysteel understands.
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China's finished steel exports for 2017 went down 30.5% year on year to 75.43 million tonnes, according to the latest statistics released by General Administration of Customs on January 12.
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China's steel mills and mini mills reported a combined Yuan 313.9 billion ($47.8 billion) profit over January-November, or a spiking 180.1% increase year on year, according to the latest release from China's National Statistics Bureau (NBS) on December 27.
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China's steel market participants appear quite chill in general at the latest announcement by the Ministry of Finance (MoF) to remove or cut export tariffs on a number of steel products including carbon, alloy, and stainless steel, Mysteel understood from the market on December 18.
