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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 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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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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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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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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Upcoming Lunar New Year holidays spanning from 24-30 January 2020 have boosted up restocking activities amongst Chinese mills.
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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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China’s export sales of hot-rolled coils (HRC) improved last week as market participants in many countries gradually returned from their Christmas holiday breaks, market sources indicated on Tuesday. Exports of other steel products remained sluggish, however.
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China’s exports of steel reached 64.3 million tonnes in 2019, representing a decline of 5 million tonnes or 7.3% on year, according to the latest statistics from China's General Administration of Customs released on January 14.
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Mysteel’s national HRB400 20mm dia rebar benchmark price remained largely stable at Yuan 3,835/tonne ($556/t) including the 13% VAT, up only Yuan 1/t from last Friday, and the price had been hovering at the level since the start of 2020, though the spot steel trading volume has been declining steadily, Mysteel Global noted.
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China’s production and sales of automobiles in 2019 declined by 7.5% and 8.2% on year to 25.7 million units and 25.8 million units respectively, according to the latest statistics from China Association of Automobile Manufacturers (CAAM) published on January 13.
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China’s domestic sales of rebar, wire rod and bar-in-coil among the 237 steel traders Mysteel regularly monitors dwindled further to a near one-year low of just 92,655 tonnes/day as of January 10, off by a huge 41% on week, according to Mysteel’s daily transaction report published Monday. Thinning construction-sector demand
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Jianlong Xilin Iron & Steel Group (Xilin Steel), achieved a record high steel output of s4 million tonnes in 2019, up 39% or 1.12 million tonnes after the first-year restructuring by the Beijing-headquartered Jianlong Heavy Industry Group (Jianlong Group) since the end of 2018, according to a release of Jianlong Group on its official Wechat account on January 8.
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Not all Chinese steel traders are feeling the urgency to stock up some quantity with the lengthy Chinese New Year (CNY) celebration just around the corner, especially where long steel is regarded and when all the uncertainties in the market are still hovering, Mysteel Global understands from the market.
