China’s production of primary aluminum reached 2.98 million tonnes during May, up 1.5% on year and but flat from the 2.97 million tonnes smelted in April, according to the latest data from China’s National Bureau of Statistics published on June 15. A recovery in profits had encouraged smelters to maintain operations, market sources said.
The declines in China’s total fixed asset investment (FAI) and the funding in the property market slowed further by May, with the former down 6.3% on year over January-May as against the 10.3% on-year fall in the first four months, and the latter dipping 0.3% as against the 3.3% fall by April, according to the latest data from China’s National Bureau of Statistics (NBS) on June 15.
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.
China’s sales of excavators for both domestic and overseas customers for May had rose on year for the third successive month, up 68% on year, as end-users had been booking in anticipation of more construction projects in the coming months, according to the latest statistics from the China Construction Machinery Association (CCMA) on June 9.
For January-May, China’s foreign trade value declined more deeply by 8% on year than the 7.5% on-year fall for the first four months, as the foreign trade for May alone reversed down on month by 1.2% or down more sharply by 9.3% on year, according to the latest statistics in terms of the U.S. dollar from the country’s General Administration of Customs on June 7.
China’s imports of copper concentrates and ores grew 2.2% on year to 9.26 million tonnes over January-May, lower than the 4.9% on-year rise over the first four months, as the COVID-19 had disrupted supplies from the overseas miners, according to the latest data from China’s General Administration of Customs (GACC) on June 7.
Japan’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry fell to 38.4 for May, a new low since March 2009 or having declined for the three month mainly due to the impact of the COVID-19 on the series of industrial activities, according to the release from au Jibun Bank Corporation on June 1.
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 central government aims to promote domestic sales of electric home appliances via a trade-in policy and within three years, as well as to set up an orderly system for collecting, separating and recycling old home appliances, according to two posts from the country’s National Development and Reform Commission (NDRC) on May 18 and May 19.
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.
China’s industrial growth reversed up to 3.9% in April, recovering from the year-on-year decline of 1.1% in March, thanks to the faster recovery of production among many domestic industries, including the ferrous and nonferrous metals sectors, according to the latest release of China’s National Bureau of Statistics on May 15.
China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry reversed down 1.2 basis points on month to 50.8 for April, and both production and new orders faced growing challenges, according to the latest release from the country’s National Bureau of Statistics (NBS) on April 30.