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The Baltic Dry Index (BDI), the world’s bellwether of the dry bulk freight market, has been heading downward ever since mid-December last year, hitting a 31-month low of 595 on February 11, or down 800 base points in total amid the persistent cooling in the dry bulk markets amid the Sino-US trade friction and Vale’s tailings dam collapse on January 25, market sources said on February 14.
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China’s ferromolybdenum market has gradually recovered after the Chinese New Year holiday over February 4-8, mainly benefiting from the increase in bid volumes from steel mills, Mysteel has learned.
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China’s total imports of copper concentrates and ores in January surged 17.8% on year to some 1.9 million tonnes, according to official data released by China’s General Administration of Customs on February 14. Last month’s total imports were also 29.5% up on the December 2018 level, Mysteel calculated.
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For January, China’s imports of coal and lignite surged 19.5% on year to 33.5 million tonnes, and the exports of coke
and semi-coke grew 4.4% on year to 716,000 tonnes. A detailed
report will be posted.
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China's January iron ore imports decreased 9.1% on year to 91.3 million tonnes. A detailed report will be posted.
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China’s January copper concentrates and ores imports grew 17.8% on year to 1.9 million tonnes.A detailed report will be posted.
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China’s nonferrous sector faces serious challenges this year including weak fundamentals, an unbalanced industry structure and a complicated global trade environment, the Ministry of Industry and Information Technology warned in a report published Tuesday.
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Major Chinese ferromolybdenum producers expect to post significant increases in their net profits for calendar 2018, mainly thanks to the uptick in domestic ferromoly prices, Mysteel has learned from the market.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry reversed up by 0.1 basis point on month to 49.5 for January after having declined for the previous four months, but it still suggested contraction in the sector because of its being below the threshold of 50, according to the latest release by China’s National Bureau of Statistics (NBS) on January 31.
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Chinese domestic ferromolybdenum prices are seen remaining stable this week after last week’s rebound, as trading activities have contracted significantly prior to the start of the Chinese New Year holiday over February 4-10, market watchers remarked on Tuesday.
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Chinese prices of tungsten products are expected to remain stable prior to the start of the Chinese New Year holidays over February 4-10, industry sources said Friday. Market sentiment should receive a little lift because the reduction in supply will likely offset the impact of the dip in demand, they suggested.
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China’s energy consumption structure has been in the progress of optimization with the ratio from thermal coal down further by 1.4 percentage points on year for 2018 though the total consumption grew 3.3% on year, according to the latest release from the country’s National Bureau of Statistics (NBS).
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Chinese domestic ferromolybdenum prices showed signs of recovering this week after hovering at a 13-month low over January 16-18, with the price of 60% ferromoly rebounding by Yuan 7,000/tonne ($1,032/t) from last Friday’s Yuan 99,000/t to reach Yuan 106,000/t including 16% VAT as of January 23, according to Mysteel’s database.
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China’s fixed asset investment (excluding rural households) gained 5.9% on year to Yuan 63.56 trillion ($9.36 trillion) for the whole 2018, with the growth being flat from the first eleven months, according to the latest data released by China’s National Bureau of Statistics on January 21.
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China’s gross domestic product (GDP) scored a year-on-year 6.6% growth for 2018 with the total value exceeding Yuan 90 trillion ($13.2 trillion), outperforming the target at 6.5%, according to the latest release from the country’s National Bureau of Statistics (NBS) released on January 21.
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China's auto manufacturing fell 3.8% on year to about 28 million units for 2018. A detailed report will be posted.
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China's coal production including thermal and metallurgical coal grew 5.2% on year to 3.55 billion tonnes for 2018, and that for coke grew 0.8% on year to 438.2 million tonnes. A detailed report will be posted.
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China's finished steel output grew 8.5% on year to 1.105 billion tonnes, exceeding the benchmark of 1 billion tonnes for the first time. A detailed report will be posted.
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China's crude steel output grew 6.6% on year to 928.3 million tonnes for 2018. A detailed report will be posted.
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China's fixed asset investment grew 5.9% on year for 2018, and that into property sector up 9.5%. Detailed reports will be posted.
