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At a closed-door conference held in Beijing on November 29, Chinese government bodies including the Ministry of Ecology and Environment finally approved new classification standards for the country’s steel scrap sector. Though the details are yet to be released, the new standards classify categories of steel scrap and are comparable to those in use internationally, paving the way for China to re-open its ports to approved types of foreign steel scrap, Mysteel Global notes.
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The Purchasing Managers’ Index (PMI) for China’s steel industry for November scored 49.3, or up for the second month by another 3.5 basis points on month, with both demand and supply having shown signs of the continuing modest improvement, according to the latest release from the index compiler the CFLP Steel Logistics Professional Committee (CSLPC) on November 30.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry recovered by 0.7 basis point to reach 52.1 in November after the small decline in October, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 30. The result shows that this weathervane of Chinese manufacturing activity has remained above the threshold of 50 connoting expansion for nine straight months and indicates that the performance recovery of the country’s manufacturing industry is accelerating, NBS said.
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Japan’s imports of stainless cold-rolled coil in October plunged by 38% on year to 7,737 tonnes, the lowest level in a year, according to new data from Trade Statistics of Japan released on Friday, prompting Japanese market sources to suggest that domestic stainless market conditions might improve as a result.
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In China’s spot steel market, the price of rebar declined in reaction to the softening in demand in winter, while that of hot-rolled coil (HRC) increased due to the resilience in demand, Mysteel Global noted.
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China’s rebar price reversed up on November 27 after three consecutive days of reduction, and long steel sales also eased. The Tangshan Q235 150mm square billet price retreated through the weekend although prices have been largely rangebound for the past week, Mysteel noted.
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China’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by 0.7 basis point on month to 52.1 for November, or above the benchmark of 50 for the ninth month, indicating the pick-up in pace of recovery in the country's manufacturing sector, according to the latest release from the country's
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China’s Purchasing Managers’ Index (PMI) for the steel industry rose by 3.5 basis points on month to 49.3 for November, with both demand and supply having shown signs of further growths for the second month, according to the latest release from the CFLP Steel Logistics Professional Committee. A detailed report
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Note:
1. Starting January 32020, Mysteel has enlarged the number of the warehousesin Wuxi by fiveto track 90% of the spot stainless stocks in the city, up from the original 80%. The formal release of the new data has commenced on June 1.
2.Starting October 15 2020, Mysteel has enlarged the
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The growth in on-year profits of sizable Chinese industrial enterprises over January-October reached 0.7%, according to the latest data released by China’s National Bureau of Statistics (NBS) on November 27.
