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China’s GDP grew 6.2% on year over January-September, still within Beijing’s 6-6.5% economic growth target for 2019, though the growth for Q3 fell another 0.2 percentage point from Q2 to 6% on year, or a new low after Q2 since China started the GDP statistics in 1992, according to the latest statistics from the country’s National Bureau of Statistics on October 18.
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China's fixed asset investment (FAI) in general grew 5.4% on year to Yuan 46.1 trillion ($6.5 trillion) over January-September, down 0.1 percentage point from that for the first eight months, while the funding in the property market maintained its growth at 10.5% on year, the same as that for January-August, according to the latest release from the country’s National Bureau of Statistics (NBS) on October 18.
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China's gross domestic products (GDP) grew 6.2% on year for the first three quarter of 2019, and its fixed asset investment grew 5.4% on year over January-September, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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BHP has remained its copper production guidance for FY2020 (July 1 2019-June 30 2020) unchanged at 1.71 -1.82 million tonnes, and its first quarter output over July-September increased by 5% on year to 430,000 tonnes, though it was 3% lower on quarter, according to its latest quarterly production report released on October 17.
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Chinese steel market participants are divided on whether steel mills in the “2+26” cities in North China will definitely face tougher restrictions from their local authorities in the upcoming winter over November-March 2020 just because Beijing has set a higher bar for air pollution reduction, targeting to reduce the average PM2.5 density by 4% on year for the 2019 winter from last year’s 3% reduction.
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Production summary
Unless otherwise noted: percentage variance
relates to performance during the September 2019 quarter compared with the June
2019 quarter (QoQ); production and sales volumes are reported on an
attributable basis.
Source: South32, released on October 17
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[Para 1 and 2 updated based on the latest development.]
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Nickel production at Brazilian mining giant Vale during this year’s July-September quarter saw a 14.2% quarter-on-quarter increase, amid the gradual resumption of operations, according to the company’s latest quarterly report released on October 14. On the other hand, its copper production remained stable over the same period, mainly due to the strong operational performance at its Salobo complex in Brazil during the three months.
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Shandong Weiqiao Pioneering Group, China’s top and the world’s largest aluminum smelter in East China’s Shandong province is considering building a 2 million tonnes/year aluminum smelting shop in Southwest China’s Yunnan province because of the latter’s abundant hydro power supply and its geographical proximity to South and Southeast Asia, Mysteel Global has learned on Tuesday.
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China’s auto sales over the first nine months of 2019 decreased 10.3% on year to 18.4 million units, and auto production declined 11.4% on year to 18.1 million units, according to the latest statistics from the China Association of Automobile Manufacturers (CAAM) on October 14.
