Chinese production of air-conditioners declined by 14.7% on year to 19.4 million units during May, according to the latest data from China’s National Bureau of Statistics, with the May result taking total production over January-May to some 78 million units, lower by 23.1% on year, the NBS data show. However, the pace of the decline had slowed marginally from the 24.8% decrease charted over the first four months.
Better than expected, China’s auto sales rose on year and on month for the second successive month in May after a 21-month continuing drop, up 14.5% on year or 5.9% on month to 2.2 million units, mainly due to the government’s preferential policies and robust demand for trucks for infrastructure construction, according to the release from the China Association of Automobile Manufacturers (CAAM) on June 11.
Primary aluminum stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and in 16 Chinese cities under Mymetal’s weekly survey contracted by another 50,000 tonnes or 5.5% on week to 860,000 tonnes as of June 1. This was less than the 84,000 tonnes on-week decline in the prior week, a result of the slowing of domestic demand and still-sluggish global market.
The combined gross profit of enterprises in China’s auto industry surged 29.5% on year during April, according to the latest release by China’s National Bureau of Statistics (NBS) on May 27. The sector received a moderate boost from the rise in sales last month – reflecting the lift in demand that had been delayed by the battle against COVID-19 – but market sources warn that the handsome profits would be difficult to repeat.
China’s production of air-conditioners dropped by 24.8% on year over the first four months of 2020, though the pace of the decline slowed marginally from the 27.9% decrease seen during January-March, according to the latest data from China’s National Bureau of Statistics (NBS). Demand for the units has not fully returned, and concerns about retreating global demand and hovering high stocks saw makers continue to restrain production, market sources said.
Sales among China’s eleven major auto manufacturers declined by a large 19.9% on month or by 13.9% on year to 351,000 units over May 1-10, according to statistics from the China Association of Automobile Manufacturers (CAAM) published on May 13. The decline in sales indicated that actual demand for new vehicles remains soft, Mysteel Global noted.
Primary aluminium stocks in the warehouses of the Shanghai Futures Exchange and 16 Chinese cities under Mymetal’s weekly survey contracted for the fifth straight week, down another 126,000 tonnes or 10.4% on week to about 1.1 million tonnes as of May 11, as demand remained strong recently.
China’s production of white goods with air conditioner in particular, slumped 10-30% on year for the first quarter of 2020 because of the COVID-19 outbreak first in China in late January and then the worldwide starting early march, according to the latest statistics released by China’s National Bureau of Statistics (NBS).