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China’s GDP achieved a 6.3% year-on-year growth for the first half of 2019 to Yuan 45.1 trillion ($6.6 trillion), which was within Beijing’s economic growth target of 6-6.5% for this year, though the Q2 GDP growth was 0.2 percentage point lower than that for Q1, according the latest release from the country’s National Bureau of Statistics (NBS) on July 15.
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The latest data from China's National Bureau of Statistics (NBS) suggests the country could conceivably produce close to 1 billion tonnes of crude steel for the whole 2019 if the steel production kept running at nearly 10% year-on-year growth rate, though market sources dismissed the possibility.
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China’s average capacity utilization rate in all industries nationwide remained largely unchanged during the April-June quarter at 76.4%, up 0.5 percentage point on quarter, though 0.4 percentage point lower than one year ago, according to the latest data released by China’s National Bureau of Statistics (NBS) on July 15.
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China’s coke output grew 6.7% on year to 233.9 million tonnes over January-June, and the country’s raw coal production including thermal coal and metallurgical coal increased 2.6% on year to 1.76 billion tonnes, according to latest release by the country’s National Bureau of Statistics (NBS) on July 15.
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China's fixed asset investment (FAI) grew by 5.8% on year to Yuan 29.9 trillion ($4.3 trillion) for January-June, up 0.2 percentage point from that for January-May, while the FAI in the property market grew 10.9% on year in H1, 0.3 percentage point lower than the first five months, according to the latest data released by China’s National Bureau of Statistics on July 15.
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China's crude steel output grew 9.9% on year to 492 million tonnes over January-June, with the June volume up 10% year on year to about 87.5 million tonnes. A detailed report will be posted soon.
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Over January-June, China’s coke output
increased 6.7% on year to 233.9 million tonnes, and raw coal including thermal and metallurgical coal grew 2.6% on year
to 1.76 billion tonnes. A detailed report will be posted soon.
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China's GDP grew 6.3% on year in the first half of 2019, which was within its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China’s steel market is generally pessimistic about steel demand in the second half of this year, as the property market, a key consumer of steel products, will probably slow down, market sources share on July 12.
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China’s iron ore imports during this year’s first half continued their year-on-year decline, according to the latest statistics from the country's General Administration of Customs published on July 12, with the total volume for January-June falling by another 5.9% on year to 499 million tonnes.
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China’s imports of coal and lignite over January-June grew 5.8% on year to 154.5 million tonnes, while the country’s H1 exports of semi-coke and coke plunged 19.7% on year to 3.8 million tonnes, according to the latest data released by China’s General Administration of Customs on July 12.
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China exported 34.4 million tonnes of steel in this year’s first half, representing a decline of 2.6% or 919,000 tonnes on year, according to data from China’s General Administration of Customs (GACC) released on July 12. Significantly, the decrease reversed the 2.5% year-on-year increase seen in exports over January-May, Mysteel Global noted.
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China’s imports of coal and lignite increased 5.8% on year to 154.5 million tonnes over January-June, and the exports of coke and semi-coke decreased 19.7% on year to 3.8 million tonnes. A detailed report will be posted.
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China's iron ore imports fell by 5.9% on year to 499 million tonnes over January-June. A detailed story will be posted soon.
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China’s iron ore prices especially for imported iron ore are unlikely to experience another round of surges amid less demand and steel mills’ inability to pay higher for iron ore amid the thinning steel margins, the China Iron & Steel Association (CISA) reiterated its near-term market outlook in in its latest monthly analysis on the iron ore market on July 9.
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China has shown greater enthusiasm in non-core iron ore supplies with its iron ore imports from Mongolia, for example, being up 22% on year to 3.4 million tonnes over January-May, though its total imports declined 5.2% on year during the first five months, Mysteel Global notes.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry stayed 49.4 last month, the same level as May and still below the threshold of 50 which indicates a contraction, according to the latest monthly report from China’s National Bureau of Statistics (NBS) released on June 30.
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Fixed asset investment (FAI) in China’s ferrous mining and processing still decreased 1.2% on year over January-May, though the seaborne iron ore price has been strengthening since the start of this year and exceeded $100/dmt CFR Qingdao for the first time in five years on May 17, Mysteel Global noted.
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The gross profit for China’s domestic ferrous smelters and processors plunged further over January to May, down by 22.4% on year to approximately Yuan 116 billion ($16.8 billion), according to the latest data from China’s National Bureau of Statistics released on June 27.
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The key steelmaker members of the China Iron & Steel Association (CISA) sold a total of 56.3 million tonnes of finished steel products in May, making for a 5% rise on year, according to CISA’s latest monthly transaction report. Last month’s result took total sales during January-May to 261 million tonnes, higher by 8.8% on year.
