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China’s automobile industry is expected to witness further declines in 2020 as it enters a period of low-speed, high-quality development, with auto sales likely to dip by 2% from this year, predicted Shi Jianhua, deputy secretary general of China Association of Automobile Manufacturers (CAAM) at the Mysteel Bulk Commodities Week 2019 Special Steel Seminar on December 13.
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China’s auto production for November posted the first year-on-year increase since June 2018, up 3.8% on year or 13% higher on month to about 2.6 million units, and the auto sales went down 3.6% on year though still down 7.6% on month, according to the latest statistics from the China Association of Automobile Manufacturers (CAAM) on December 10.
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China’s domestic and export sales of excavators and other heavy machinery over January-November increased by 15% on year to reach 215,538 units, according to the latest data released by the China Construction Machinery Association (CCMA) on December 10. The increase over the eleven months was also larger than the 14.5% on-year rise for January-October.
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China’s foreign trade surplus in Yuan enlarged 34.9% on year to Yuan 2.6 trillion ($369.4 billion) over January-November, though the trade surplus in the U.S. dollar increased 28.4% on year to $377.6 billion, according to a release by China’s General Administration of Customs on December 8, both, however, being lower than the 42.3% or 34.9% for the first ten months.
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China’s steel exports totalled 59.7 million tonnes over the January-November, down 6.5% on year, according to the latest statistics released by China’s General Administration of Customs on December 8, with the decline being steeper than 5.8% year-on-year drop over January-October, as better domestic steel sales than exports in November, Mysteel Global has learned.
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China’s shipbuilding industry hasn’t fared well at all so far in 2019, with the few key indicators declining on year amid the several crosscurrents that have been impacting its performance. Dry bulk freight carriers, the model that China has been with the great expertise in building, have been with more than sufficient capacities, while for high-end vessels such as oil and gas tankers that are in hot demand now in the global freight market, Chinese shipbuilders are not as competitive as its South Korean counterparties.
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China’s sales of 14-100 tonne heavy-duty trucks totalled 1.07 million units over January-November, up 1% on year, and the monthly sales have been inclining on month since July, up another 3% on month or 5.3% on year to 94,000 units for November alone, according to the data from the Beijing-headquartered Commercial Vehicle World (CVWorld).
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China’s Purchasing Managers’ Index (PMI) for the steel industry for November recovered 4.1 basis points on month to 45.4, or having bottomed out from the 46-month low in October thanks to demand stability and higher production amid handsome profits, according to the latest release by the official index compiler CFLP Steel Logistics Professional Committee (CSLPC) on November 30.
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China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry returned to the expansion zone in November after having hovered in contraction area for six months earlier on, or rebounding 0.9 basis point on month to 50.2, the latest release from China’s National Bureau of Statistics (NBS) on Saturday.
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The combined gross profit of China’s ferrous smelting and processing industry over January-October plunged by 44.2% on year to Yuan 211.9 billion ($30 billion), according to the latest statistics from China’s National Bureau of Statistics (NBS) published on November 27. The fall was even sharper than the 41.8% on-year decline seen over January-September, Mysteel Global notes.
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Crude steel production among the 64 countries surveyed monthly by the World Steel Association (WSA) totaled 151.5 million tonnes for October, down 2.8% on year, as all the top three steelmaking countries posted year-on-year declines by various degrees, according to WSA’s latest monthly report release on November 26.
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The Indian steel sector which is reeling under the pressure of tepid domestic demand is going to see support from the Energy Infrastructure in the next few years, Union Steel Minister Shri Dharmendra Pradhan said in the ISA (Indian Steel Association) Conclave being held in Delhi.
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China’s production of the four major home appliance showed diverged results again in October, with output of air conditioners witnessing a decline of 2.1% on year or by a large 25.3% on month, according to the latest data released by China’s National Bureau of Statistics (NBS).
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China’s National Development and Reform Commission (NDRC) has shed more light on a series of subtle and indirect economic stimulus efforts being pondered at its monthly press conference on November 15 in Beijing, and China’s steel market has sourced great support from these, as many of them relate to steel consumption.
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China’s pig iron production in October marked the first on-year decline for 2019, with output slipping by 2.7% to reach 65.58 million tonnes, according to the latest data released by the country’s National Bureau of Statistics (NBS) on November 14. The total tonnage was also down 1.7 million tonnes or 2.6% on month, the data show.
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China’s crude steel production continued to grow over January-October, rising by 7.4% on year to 829.2 million tonnes, but the year-on-year growth was 1 percentage point lower compared with the 8.4% yearly growth recorded for the first nine months, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on November 14.
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China’s fixed asset investment (FAI) in general grew 5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, and the growth in the funding in the property sector was recorded at 10.3%, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 14.
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China's crude steel output grew 7.4% on year to about 829 million tonnes over January-October, with the October volume down 0.6% on year to 81.5 million tonnes. A detailed report will be posted soon.
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China’s sales of excavators and other heavy machinery over January-October increased by 14.4% on year to 196,222 units, a historical high, according to the latest data released by the China Construction Machinery Association (CCMA) on November 9.
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China exported a total of 55.1 million tonnes of steel over the first ten months of this year, down 5.8% on year, according to the latest data released by China’s General Administration of Customs on November 8. The decline is steeper than the year-on-year decrease of 5% over the January-September period, Mysteel Global noted.
