News News

China's steel output to drop in H2: Fitch

日期: 2019-08-21
浏览次数: 0

BEIJING - China's steel production is set to decline significantly in the latter half of 2019 after reaching a record high in the first half, Fitch Ratings says in its latest report.

Crude steel and steel-product output rose 9.9 percent and 11.4 percent to 492 million tons and 587 million tons, respectively, in the first six months, the ratings agency cited data from the National Bureau of Statistics.

Construction steel accounted for the bulk of the growth, which was consistent with strong fixed-asset investment (FAI) growth in property, Fitch noted.

For the latter half, the agency expected steel production to decline due to a slowdown in housing construction, production restrictions led by environmental measures and market-driven production cuts on shrinking steelmaker margins.

Fitch expects housing construction growth to slow, particularly in lower-tier cities, which will be a drag on FAI growth into the sector on a yearly basis.

Meanwhile, air-quality targets have already led a number of steel-producing cities in Hebei, China's main steel-producing province, to implement plans to restrict production.

In addition, steel producers experienced significant margin decline in the first half of the year, mostly driven by rapid increases in iron-ore prices.


Share to:
News / Recommended news More
2019 - 09 - 17
Chinese oil and gas shares soared significantly on Monday, as prices soared in the wake of drone attacks on the world's biggest oil processing facility and an oilfield in Saudi Arabia.Shares of energy equipment companies and oil and gas firms traded in Shanghai and Shenzhen jumped 3.96 and 2.96 percent respectively on Monday, according to Shanghai-based information provider Wind Info.Brent Crude o...
2019 - 09 - 16
BEIJING - In the early 1980s, a steam turbine factory in inland China was on the brink of bankruptcy, forcing its workers to produce kitchen knives to survive.The factory now has turned into one of the world's largest manufacturers of power generators, with its products and services exported to nearly 80 countries and regions.The secret behind the transition, said Xu Peng, deputy general manager o...
2019 - 09 - 11
YINCHUAN - The rising popularity of a water-saving irrigation system in Oman and Egypt, designed by Northwest China's Ningxia University, serves as a witness to the China-Arab win-win cooperation in science and technology.Comprised of underground pipes, wind and solar power equipment and mobile intelligent control devices, the system enables water to spread to targeted spots more accurately compar...
2019 - 09 - 09
BEIJING - China's exports of goods rose 2.6 percent year on year in August, while imports fell 2.6 percent, customs data showed Sunday.Trade surplus stood at 239.6 billion yuan (about $33.79 billion) last month, expanding 41.8 percent from one year earlier, according to data released by the General Administration of Customs (GAC).The country's exports grew 6.1 percent year on year in the first eig...
Phone: 86-510-85750782 
Zip code:214031
Address: Room 3606, Block A, Yunhe East Road 555, Wuxi, Jiangsu Province, China
Copyright ©2018 - 2021 Leonzon International Trading Co., Ltd.
犀牛云提供企业云服务