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China’s industrial growth continued to recover in July, rising by 4.8% on year, with operations and production in different industries further resumed, according to the latest release of China’s National Bureau of Statistics (NBS) on August 14. Happily for China’s steel industry, the manufacturing sector led the industrial growth.
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China’s crude steel output grew at a faster pace over January-July, with the total tonnage up 2.8% on year to 593 million tonnes against the yearly growth of 1.4% over the first half of 2020, according to the latest data from the country’s National Bureau of Statistics (NBS).
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China’s fixed asset investment (FAI) still declined by 1.6% on year over January-July, but it narrowed from the 3.1% drop in the first half, and the funding in the domestic property market grew 3.4% on year by July against the 1.9% on-year growth in H1, indicating continuing recoveries in July, according to the latest data from China’s Bureau of Statistics (NBS).
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In July, China produced about 317.9 million tonnes of raw coal for all utilization, or down 3.7% on year, while its coke output edged up by 0.3% on year to 40 million tonnes for July, according to the latest release by the country’s National Bureau of Statistics. A detailed report
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Over January-July,China’s fixed asset investment (FAI) still declined on year but narrowed to1.6%, and the funding in the domestic property market gained a further 3.4%on year, according to the latest release from the country's National Bureau of Statistics. A detailed report will be posted soon.
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China's crude steel output grew 2.8% on year to about 593 million tonnes over January-July, according to the latest release from the country's National Bureau of Statistics.A detailed report will be posted soon.
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China’s railway freight volume for all goods grew further in July, increasing by 8.5% or 24.7 million tonnes on year to 320 million tonnes, according to a recent release by China State Railway Group. The growth reflects measures taken by railway management departments to ensure the supply of goods for peoples’ livelihoods and for production during the pandemic, according to the release, though the total was boosted by the commissioning of new lines this year, it acknowledged.
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Sales of Chinese excavators at home and abroad surged by 54.8% on year in July, according to the latest statistics from the China Construction Machinery Association (CCMA) published on August 11. Last month’s performance marked the fourth straight month with an on-year increase, indicating that bookings – especially from the construction sector – stayed firm, even though July is traditionally a slack consuming month, Mysteel Global noted.
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China’s total foreign trade value in Chinese Yuan still declined 1.7% on year over this year’s first seven months, though the drop narrowed by 1.5 percentage points from the first half of 2020 on the continuing improvement in July, the latest data from China’s General Administration of Customs (GACC) showed.
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China’s production and sales of new energy vehicles (NEVs) saw their first year-on-year growth this year in July, rising by 15.6% and 19.3% respectively, according to the latest statistics of the China Association of Automobile Manufacturers (CAAM) published on August 11.
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China’s finished steel imports totaled 9.9 million over January-July, up 49% on year, which was much higher than the 26.1% on-year rise for the first half of 2020 due to the record high import volume in July, Mysteel Global understood from the latest statistics from the country’s General Administration of Customs on August 7.
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China’s steel imports increased 49.3% on year to 9.9 million tonnes over January-July, and the steel exports decreased by 17.6% on year to 32.9 million tonnes in the first seven months of 2020,according to the latest statistics from the country's General Administration of Customs. A detailed report will be posted
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The Japanese steel producers plans to produce about 18.9 million tonnes of crude steel during July-September, or down 22.8% on year, according to a survey released by Japan's Ministry of Economy on August 5 , indicating their continuing struggle with the weakening demand because of the COVID-19 despite the resumption of the domestic economic and industrial activities since late May.
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Nippon Steel, Japan’s largest integrated mill, announced a 33.3% on-year drop in its crude steel output over April-June to 8.3 million tonnes on the consolidated basis, recording a net loss at Yen 42 billion ($397.5 million), according to its latest financial report released on August 4.
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Domestic sales of heavy-duty trucks in China surged by 89% on year to no less than 140,000 units for July, according to a preliminary estimate calculated by Beijing-headquartered Commercial Vehicle World (CVWorld) on August 2. The robust trucks sales were thanks to firm demand from the infrastructure construction sector and the elimination of trucks conforming to the superseded National Emission Standard Stage III.
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Japan’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by a large 5.1 points on month to 45.2 points in July, though the result was still below the threshold value of 50 connoting growth. Nonetheless, index provider au Jibun Bank Corp noted the reading was the highest since February and indicated that Japanese business expectations continue to recover from their low in April.
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The 4.3% on-year drop in Nippon Steel’s crude steel production during its last fiscal year to end-March could well seem an impressive result when the company announces its business performance for this year’s April-June quarter on Tuesday. Output at Japan’s largest steel company struggled against several headwinds last fiscal, but these will seem minor breezes compared with the gale brought on by the coronavirus pandemic which intensified during the April-June period, Mysteel Global notes.
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Offering prices of semi-finished steel including slabs and billets from India and CIS countries have been rising continuously on the buying frenzy from China, but the spree has shown signs of receding recently, as the ever-rising prices have put off some of the Chinese importers’ enthusiasm, market sources shared on July 29.
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Orders for new vessels received by China’s shipbuilders are expected to decline to around 22 million dead weight tons (dwt) in 2020, from 29.1 million dwt in 2019, as the business confidence of ship owners is being undermined by the COVID-19 outbreak and the economic uncertainty it is creating, according to the latest release by China Association of the National Shipbuilding Industry (CANSI) on July 30.
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The combined gross profit of China’s ferrous industry including steel makers and fabricators slumped 40.3% on year over January-June to Yuan 84 billion ($12 billion), with the drop more substantial than the 12.8% on-year decline for all the sizeable industrial enterprises, according to the latest monthly report by the country’s National Bureau of Statistics.
