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Mysteel’s national HRB400 20mm dia rebar benchmark price and Mysteel’s Tangshan Q235 150mm square billet price, the two key indicators of China’s steel market dynamics, stayed unchanged at Yuan 3,834/tonne ($558.9/t) and Yuan 3,300/t EXW respectively including the 13% VAT on January 19.
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China’s crude steel output did not reach the milestone of 1 billion tonnes last year, but it was really just a millimeter away, as the country’s steel production totaled 996 million tonnes for the whole 2019, or up 8.3% on year, according to the latest statistics from the National Bureau of Statistics (NBS). Or put another way, it was less than two days shy, given that last year’s production averaged 2.73 million tonnes/day.
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China’s crude steel output totalled 996 million tonnes for full year 2019, representing a jump of 8.3% compared with the total for 2018 and hitting an all-time high, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on January 17.
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For 2019, China’s gross domestic product grew 6.1% on year to Yuan 99 trillion ($14 trillion), with the final result coming within the central government’s targeted range for last year of 6-6.5%, according to National Bureau of Statistics (NBS) data released on the release on January 17. “Most of the tasks were fulfilled, laying a solid foundation for China to develop into a well-off society,” NBS commented.
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Fixed asset investment (FAI) in China’s manufacturing sector grew by a total of 5.4% on year during full year 2019, up 0.2 percentage point from the first eleven months, according to the latest data from the National Bureau of Statistics (NBS) released on Friday. FAI in the domestic property market increased by 9.9% on year during January-December, though this was off by a tiny 0.3 percentage point from the January-November reading, the data show.
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Blast furnace capacity utilization among the 247 blast-furnace steel companies across China which Mysteel surveys weekly decreased further by 0.53 percentage point on week to 78.88% over the week of January 10-16, according to Mysteel’s latest survey published on January 17. The use rate was still 2.43 percentage points higher than this time last year, however.
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China’s domestic steel price stayed quiet as most of the downstream construction sites have suspended their operations and many traders have started their long holiday for the Chinese New Year in advance. China’s national average price for HRB 400 20mm dia rebar remained stable on day at Yuan 3,835/tonne ($558/t) including the 13% VAT as of January 16.
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China’s fixed asset investment (FAI) in manufacturing sector grew 5.4% on year for 2019 among which the FAI into property market up 9.9% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China's 2019 crude steel output grew 8.3% on year to about 996.3 million tonnes, with the December volume up 11.6% on year to 84.3 million tonnes. A detailed report will be posted soon.
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China’s gross domestic product (GDP) grew 6.1% on year for 2019 to Yuan 99 trillion ($14 trillion), according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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Khouzestan Steel Company (KSC) - one of the leading exporters of Iran has concluded a billet export deal of quantity recently. The deal quantity is of 30,000 MT for size 150*150 mm, 5sp grade for Mar’20 shipment. As per market sources, the company has concluded the deal to South East Asia. The deal value was reported to be around USD 400/MT, FOB Iran.
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Chinese steel market sources agree that domestic steel market prices will hover in a narrow range in February after the Chinese New Year holiday over January 24-30, predicting that supply and demand will be stable as cautiousness will prevail, Mysteel Global has learned.
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China and the US trade tension has shown signs of easing as the two countries signed their phase-one economic and trade agreement on January 15 (Washington time) after nearly two years of trade frictions and talks, according to a news report by Xinhua News Agency on January 16.
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Steel mills in Tangshan in North China’s Hebei province are maintaining relatively normal production right now, despite the local government’s issuance of an ‘orange’ alert on Wednesday warning that pollution had temporarily impacted air quality, market sources confirmed on Thursday.
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Prices for imported scrap to Vietnam witnessed a downward trend over the last week, with offers from Japan as well as North America inching down on low demand as well as following the present global trend. The effect of rise in Japanese Kanto tender’s result is yet to be noticed.
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Mysteel’s national HRB400 20mm dia rebar benchmark price remained largely stable after entering 2020, assessed at Yuan 3,835/tonne ($548/t), including the 13% VAT, up by only Yuan 1/t on day, according to Mysteel’s database. Spot sales have been steadily declining, Mysteel Global noted.
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China’s Iron & Steel Association (CISA) expects the domestic steel consumption to increase 2% on year to 890 million tonnes for 2020 as key consuming sectors may see slower growths or modest declines, according to CISA’s latest release on January 14.
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Starting January 11, Shen Bin, chairman of the Jiangsu Shagang Group, has officially become the new head of the China Iron & Steel Association (CISA), which has been the first time for a senior executive from a privately-owned steel mill to be elected as the chairman of CISA.
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Ferrexpo plc, third largest exporter of pellet in the global market has released its Q4 CY19 results today. The company recorded pellet production at 10.52 MnT in CY19, down slightly as compared to 10.61 MnT in CY18. The output reduced amid falling demand.
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India’s finish-flat imports declined by 3% Y-o-Y to 5.82 MnT in CY’19, which was 5.97 MnT in CY’18, as per customs data maintained with SteelMint.
