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BEIJING - China's demand for steel is expected to register an uptick in 2020, according to a guild report.The country's steel demand is forecast to climb 2 percent year-on-year to reach 890 million tons in 2020, said the China Iron and Steel Industry Association (CISA) in a report.The steel demand of the construction and home appliance industries is expected to maintain expansion while that of the automobile, ship-building, container-manufacturing and machinery sectors will see negative growth in 2020.China's steel market witnessed hot demand in 2019 thanks to the steady operation of infrastru...
Date: 2020 - 01 - 20
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SHIJIAZHUANG - Hebei province, China's leading producer of iron and steel, will continue with huge overcapacity cuts in 2020 amid an ongoing industrial upgrading, its governor Xu Qin announced Tuesday.The province plans to cut production capacity of steel and iron by 14 million tons this year, Xu said when delivering a government work report at the opening of the local legislative session.To fight overcapacity, Hebei will also cut capacity of coal by 6 million tons, carbon coke by 2 million tons and coal-fired power supply by 500,000 kW, he said.Hebei and several other regions around Beijing a...
Date: 2020 - 01 - 08
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BEIJING - China's chemical industry registered steady expansion in the first 11 months of 2019, official data showed.The industry's value-added output rose 4.5 percent year-on-year, 0.8 percentage points faster than the same period of 2018, according to the National Development and Reform Commission.The output of major products expanded during the period, with crude oil processing capacity increasing 6.7 percent year-on-year to 593.18 million tons, while the output of chemical fiber climbed 13.5 percent to 54.93 million tons, data from the National Bureau of Statistics showed.In November alone...
Date: 2020 - 01 - 03
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China's steel industry is entering a new development phase of slower output growth but higher quality, industry experts said.Latest data from the Ministry of Industry and Information Technology showed China's crude steel output reached 904 million metric tons over the January-November period, increasing 7 percent year-on-year-nearly 3 percentage points lower than the year-on-year crude steel output growth rate for the first half of 2019, which stood at 9.9 percent.The China Metallurgical Industry Planning and Research Institute predicted in a recent report that both China's crude steel output ...
Date: 2019 - 12 - 27
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BEIJING - China's crude oil production rose 0.9 percent year-on-year to 15.7 million tons in November, according to the National Bureau of Statistics (NBS).The growth rate was up 0.9 percentage points from the previous month, while the country's daily average output of crude oil increased 3,000 tons to 523,000 tons.In the first 11 months of the year, China's crude oil output totaled 174.95 million tons, up 1 percent from the previous year, the NBS data showed.Imports of crude oil rose 6.7 percent year-on-year to 45.74 million tons in November, while during the January-November period the impor...
Date: 2019 - 12 - 23
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Major economic indicators performed better than expected in November, showing that the Chinese economy made progress in stability despite challenges both at home and abroad, according to the National Bureau of Statistics on Monday.The country's industrial output, an important economic indicator, increased by 6.2 percent year-on-year last month, compared with 4.7 percent for October, the NBS said.Retail sales rose by 8.0 percent year-on-year in November, compared with 7.2 percent in the previous month, the bureau said.Fixed-asset investment expanded by 5.2 percent in the first 11 months, unchan...
Date: 2019 - 12 - 16
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