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January 20, 2020

Steel Production In China In 2019 While Overall Growth Softens

 

  • As The New York Times explains, Chinese crude steel production set another record in 2019, increasing 8.3 percent for the entire year to 996.34 million tons. In December alone, production surged 12 percent from the same month a year prior. Capacity utilization was near 79 percent.
  • Aluminum Insider reports that China produced 35.04 million metric tons of aluminum in 2019, a decline of 0.9 percent from 2018. The drop “ended a ten-year streak of production increases that began following 2009’s drop from the prior year’s total.”
  • According to China’s National Bureau of Statistics, economic growth in the nation slowed to 6.1 percent in 2019, its lowest level in 30 years and down from 6.6 percent the year before. Masaaki Kanno, chief economist at Sony Financial Holdings in Tokyo, said, “We expect China’s growth rate will come further down to below” six percent in the coming year.
  • The Wall Street Journal reports auto sales in China fell 8.2 percent from 2018 to 2019. China still holds about 40 percent of the passenger vehicle market.