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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry recovered by 0.7 basis point to reach 52.1 in November after the small decline in October, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 30. The result shows that this weathervane of Chinese manufacturing activity has remained above the threshold of 50 connoting expansion for nine straight months and indicates that the performance recovery of the country’s manufacturing industry is accelerating, NBS said.
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China’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by 0.7 basis point on month to 52.1 for November, or above the benchmark of 50 for the ninth month, indicating the pick-up in pace of recovery in the country's manufacturing sector, according to the latest release from the country's
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China’s Purchasing Managers’ Index (PMI) for the steel industry rose by 3.5 basis points on month to 49.3 for November, with both demand and supply having shown signs of further growths for the second month, according to the latest release from the CFLP Steel Logistics Professional Committee. A detailed report
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The growth in on-year profits of sizable Chinese industrial enterprises over January-October reached 0.7%, according to the latest data released by China’s National Bureau of Statistics (NBS) on November 27.
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Despite being the world’s largest producer of coke, China is witnessing increasing local-market demand for coke from foreign producers, due to a sustained shortage of domestic supply. In October, the country’s net coke imports surged by 29% from September to above 220,000 tonnes, Mysteel Global calculated based on new General Administration of Customs (GACC) data.
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China’s total imports of coking coal grew by 3.6% on year in October to 5.9 million tonnes, though this represented a large 12.2% decline from September, according to data issued by China’s General Administration of Customs (GACC). Contributing mainly to the on-year growth in October was volume from Mongolia which offset the decline in Australian coking coal imports.
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Crude steel output amongst the 64 countries under the monthly survey of the World Steel Association (WSA) amounted to 1.5 billion tonnes over January to October, down 2% on year, according to new WSA data. But the pace of the decline had slowed by 1.2 percentage points from January-September result, indicating that steel producers globally are gradually emerging from the impact of the COVID-19 pandemic.
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Japan’s crude steel production in October including both carbon and special steel declined by 11.7% on year to some 7.2 million tonnes, making for the eighth consecutive monthly on-year decrease, according to the latest data released by the Japan Iron & Steel Federation (JISF) on November 24.
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The annual information exchange between steel industry officials in Japan and Taiwan held recently identified no major outstanding issues. “Steel trade between Taiwan and Japan is currently smooth,” an official from Japan’s Ministry of Economy, Trade and Industry (METI) commented on Tuesday. In previous years, Japanese exports of heavy sections had been a source of friction, but those tensions have eased, Mysteel Global understands.
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China’s production of the four mainstream electric home appliances continued with recovery in October, with refrigerator posting the sharpest 25.8% on year gain in production, according to the latest data from China’s National Bureau of Statistics (NBS), which was mainly due to robust demand from overseas, Mysteel Global noted.
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China’s major energy production, involving fossil-based energy and power generation, continued to grow on year in October, in step with the country’s sustained recovery of domestic industrial and economic activity, new data released by the National Bureau of Statistics (NBS) shows.
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Japan’s all kinds of steel exports for October fell 13% on year to about 2.47 million tonnes, or the sixth consecutive month posting an on-year decline, mainly as the Japanese integrated mills had been prioritizing supplies to domestic customers, Mysteel Global understood from the preliminary data released by Japan’s Ministry of Finance on November 18.
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China’s run-of-mine (ROM) iron ore output over January-October rose 1.9% on year to 714.5 million tonnes in total, with the growth being slower than the 2.6% on-year rise over January-September, the latest data from the country’s National Bureau of Statistics (NBS) showed.
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The backlog of construction orders for new ships held by Chinese shipbuilders had slipped further by end-October despite a slight recovery in new vessel orders last month, according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on November 18. Hovering below the threshold of 80 million dead weight tons (dwt) for six successive months, the yards’ backlog by the end of last month had sunk further to around 71 million dwt, CANSI reported.
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China’s economy has been improving steadily and despite uncertainties facing the global market, the government is confident about maintaining the consistent recovery and realizing the country’s development targets for 2020 by relying on its internal strength, Fu Linghui, spokesperson of the National Bureau of Statistics (NBS), shared at a press conference on November 16.
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Coal market participants in China are closely monitoring what impact a new outbreak of COVID-19 in Mongolia might have on the country’s coal exports – a crucial concern given that China is the destination of almost all Mongolian coal for export.
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China’s pig iron output approximated 742 million tonnes over January-October, up 4.3% on year or faster than the 3.8% on-year growth for January-September, though the growth rate fell behind the 5.5% on-year gain in crude steel output, according to the latest data released by the country’s National Bureau of Statistics (NBS) on November 16.
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China’s raw coal production increased moderately by 1.4% on year to 336.6 million tonnes in October, and that for coke rose 2.2% on year to 40 million tonnes last month, according to data released by the National Bureau of Statistics (NBS) on November 16.
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The on-year growth in China’s crude steel output picked up in pace over January-October, gaining 5.5% on year to 874 million tonnes as against the 4.5% on-year rise for the first nine months, though its daily crude steel output for October dropped to a low since April, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 16.
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Altogether 15 countries including 13 in Asia and Australia and New Zealand signed the Regional Comprehensive Economic Partnership (RCEP) on November 15 via a virtual conference, which has created the world’s largest free trade bloc and has been great news in general to the commodities market sources, Mysteel Global noted.
