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China’s 1h13 iron ore imports by source

PostTime:2013-07-25 08:26:00 View:6549

During the first half of 2013 iron ore imports declined year-on-year into China from India (-22.3 Mt to a mere 5.5 Mt) and Brazil (-6.5 Mt to 70.5 Mt). Imports from Brazil in June totalled 8.1 Mt representing a two year low. However, a breakdown of imports by source shows significant gains from Australia (+26.7 Mt to 192.5 Mt), Iran (+3 Mt to 11.6 Mt) and West Africa (+4.3 Mt to a combined 10.4 Mt) compared to the first six months of last year. Sierra Leone contributed 4.8 Mt to the West African year-to-date total, up from 1.6 Mt in January-June 2012.

China’s coal imports by source

PostTime:2013-07-25 08:23:39 View:7256

China’s coal imports in June fell to an 8-month low of 22.3 Mt (including lignite), according to customs trade statistics. This took total imports in the 1h13 to 158.6 Mt, up 18.6 Mt year-on-year. A breakdown of 1h13 imports into China by source shows annual increases for coal shipments from Australia (+ 12.2 Mt to 38.4 Mt), Indonesia (+6.7 Mt to 64.4 Mt) and Russia (+1.5 Mt to 9.3 Mt). Meanwhile, combined long haul imports from the US (4.8 Mt) and Canada (6.0 Mt) during the 1h13 also grew 2.0 Mt year-on-year, while shipments from South Africa slipped by 1.2 Mt to 5.8 Mt and imports from Colombia in the Jan-Jun period were only 0.2 Mt compared with 0.7 Mt in the corresponding period in 2012. 23/07/2013  

Japanese iron ore and coal imports

PostTime:2013-07-25 08:22:50 View:34038

Japanese iron ore imports in June retreated by 21% from their recent 55-month high in May to 10.4 Mt, according to the country’s Ministry of Finance. This took total imports in the 1h13 to 66.5 Mt, which compared with 65.2 Mt in the corresponding period in 2012. By contrast, the country’s coal imports in June rose to a 9-month high of 16.0 Mt, taking total imports in the 1h13 to 91.8 Mt, up 3% from the year-ago level.  

World steel price rises

PostTime:2013-07-25 08:22:01 View:10018

According to the latest SteelBenchmarker published by World Steel Dynamics, the world export price of hot rolled band rose for the first time since end-February, up by $12/t from two weeks ago to $546/t. However, the world HRB price was still down $42/t year-on-year. HRB steel prices in the US rose for a third consecutive month to $702/t, the highest level since December 2012, while HRB prices in the China reached a 2-month high of $492/t. Prices in the EU continued their downward trend falling to $588/t, representing an 11-month low.

EU steel consumption

PostTime:2013-07-22 17:14:03 View:9922

According to the European Steel Association (Eurofer), apparent steel consumption in the EU fell by 7.3% year-on-year in the 1q13. Although Eurofer expect modest positive growth to resume in the 4q13, this will not prevent this year’s annual total of 137 Mt from being down 3% on 2012. For 2014, the Association are predicting that EU apparent steel consumption will edge up to 140 Mt implying another weak year for European iron ore imports. Consumption is forecast to drop by 3.1% this year before rising 1.8% in 2014.

Shanghai customs posts biggest export decline in two and a half years

PostTime:2012-08-21 10:22:41 View:2863

SHANGHAI customs' recorded a year-on-year decline of 8.6 per cent in peak season of July in export volume to US$43.78 billion, which was the largest annual decrease since November 2009, reports Xinhua. The fall was caused by the European market depression. During the first seven months, Shanghai customs' trade cargo to and from Europe dropped 4.2 per cent to $96.73 billion. Exports shrank 10.6 per cent to $54.75 billion, but imports grew 5.7 per cent to $41.98 billion. In July, Shanghai's US trade cargo valued $15.13 billion, down 12.6 per cent. European trade fell 2.8 per cent to $12.38 billion. Electrical and mechanical product exports shrank. From January to July, automatic data processor exports dropped three per cent to $32.36 billion. Integrated circuits fell 5.6 per cent to $8.07 billion. Solar cell exports declined 40.8 per cent to $4.47 billion. Ships decreased 13.9 per cent to $3.35 billion. But cell phone exports increased 24.9 per cent to $4.1 billion. Labour-intensive product export also fell. Garments declined 4.6 per cent to $29.57 billion. Textiles dropped 3.1 per cent to $20.97 billion. Bags and cases fell 0.6 per cent to $2.58 billion. In contrast, Shanghai's consumer product kept a fast increase in the seven months. Automobile grew 20.6 per cent to $9.7 billion. Pharmaceuticals jumped 34.9 per cent to $4.1 billion. Garment exports increased 25.5 per cent to $1.41 billion. From January to July, Shanghai recorded a collective trade value of $462.69 billon, up 1.2 per cent, taking up 21.3 per cent of China's total, still the largest customs consignment volume in China for international trade. Export value increased by only 0.7 per cent to $282.18 billion. Imports grew 2.2 per cent to $180.51 billion. Wang Chengming, an expert from the Shanghai customs pointed out that since the beginning of this year Shanghai's growth had fallen behind the national average, which is rare. Traders in China need to be prepared for harder hit from the downturn, he said.

Container data highlights China trade slowdown

PostTime:2012-08-14 12:12:56 View:2770

The figures from the UK-based consultancy Container Trade Statistics shed shipping-specific light on the China trade data that appeared last week, which showed that while Chinese exports are still rising, the rate of growth has plunged. China's exports in July were up 1% from a year earlier and the contrast with the 11.3% growth seen in June is readily apparent. Meanwhile, imports rose 4.7% compared with 6.3% in June, which is a pointer to declining growth in domestic demand, with data on retail sales offering further confirmation on this point. The performance was dramatically weaker than expected, marking the worst figures since November 2009, and was unveiled just a day after China reported that growth in industrial output fell to a three-year low in July. According to Container Trade Statistics, the east China exported 1.48 million teu to Europe from January to June this year, compared to 1.44 million teu in the same period in 2011. The figures for southern China are 940,000 teu for 2012 and 935,000 teu for 2011 and for northern China, 588,000 teu compared to 568,000 teu for the previous year. But separate figures for the western Mediterranean highlight the very real impact of the eurozone crisis, with a fall from 104,000 teu in the first six months last year to 95,000 in the first six months of this year. Container Trade Statistics managing director Rod Riseborough said: "There is obviously a major decline in the western Mediterranean and I would suspect it is closely aligned to the euro issue." The situation has prompted speculation of further measures from Beijing to boost growth. The central bank has already cut key interest rates twice since the start of June and reduced reserve ratios in a bid to boost lending. But for Shayne Heffernan, founder of Thailand-based Heffernan Capital Management, the Chinese government cannot properly be depicted as the master of its own fate. "Everybody is expecting China stimulus but for me the real question is: even if that stimulus comes, what will it do? Exports to Europe and the US are slowing and everyone is of the opinion that Europe's problems are not solved." Debt levels in Greece and Spain remain critical, Mr Heffernan believes, and there is a continued refusal to address the issues that created the underlying problems in the first place. European businesses are not investing and consumers are not spending, and that can only have a detrimental impact on China's export efforts. The risk of obvious moves such as relaxing credit or allowing currency depreciation is that this will simply generate internal inflation rather than have the desired effect, he said. Another potential consequence is new unemployment and social unrest as the ruling Communist Party attempts to hand power over to a new generation of leaders.  

Trade growth sees sharp slowdown

PostTime:2012-08-13 11:33:43 View:2483

CHINA'S trade growth slowed sharply to a six-month low in July as foreign demand dwindled, making the prospect of economic recovery in the second half more unlikely. Exports edged up just 1 percent from a year earlier to US$176.9 billion in July, weakening sharply from June's 11.3 percent growth, the General Administration of Customs said yesterday. Imports grew 4.7 percent to US$151.8 billion last month, compared to the increase of 6.3 percent a month earlier. That left a trade surplus of US$25.1 billion in July, compared with June's US$31.7 billion. "The sudden deterioration in trade is worse than our worst expectation," said Xue Jun, an analyst at CITIC Securities Co. "It is a strong signal of weak external demand, and the Chinese authorities should consider more easing efforts to stabilize the growth." Analysts had expected single-digit growth in both exports and imports, but hardly anyone had forecast such a small growth in exports. "The poor global environment will continue to be a drag on China's trade," said Tang Jianwei, an analyst at Bank of Communications. "If the government still targets 10 percent annual trade growth, the figure clearly heightens the downside risk." Vice Commerce Minister Gao Hucheng said yesterday China would be able to fulfill the target, although the country may face greater pressure in the second half. In the first seven months, China's trade grew 7.1 percent year on year to US$2.16 trillion. Data released on Thursday by the National Bureau of Statistics also showed growth less than expected in a batch of key indicators. Together with the disappointing trade figure, economists were less confident about a modest recovery in the second half of this year. "China's economy is still ailing," said Liu Ligang, an economist at Australia & New Zealand Banking Group Ltd. "If the current pace continues, third-quarter growth could be lower than our projection of 8 percent." China's gross domestic product expanded 7.6 percent year on year in the second quarter, the slowest pace in three years. It prompted the central bank to reduce interest rates twice in the past two months, and China to emphasize investment again for a quicker rebound. Economists suggested an immediate cut in the reserve requirement ratio to boost liquidity in the banking system. But Li Jian, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said panic among exporters should not become a reason for China to roll out supportive measures such as more tax rebates for traders. "Exporters should not have illusions that they can survive with the help of the government," Li said. "Instead, they should focus on improving and upgrading their products to make them really competitive on the global market." Li said that even if China missed the 10 percent trade growth target for this year, the country should still insist on economic restructuring. In the first seven months, bilateral trade between China and the European Union fell 0.9 percent from a year earlier to US$315.7 billion. In comparison, deals with the United States jumped 10.5 percent to US$271.4 billion. Shanghai's trade rose 2 percent on an annual basis to US$252.7 billion in the first seven months of the year.  

Narrower trade glut seen on low exports

PostTime:2012-08-13 11:19:09 View:2258

CHINA'S trade surplus this year may be lower than last year's because exports are likely to be weak in the following months, analysts said, after the country reported the slowest growth in trade in six months in July. "Given the grim prospects for global economic recovery, China's exports may stay low, if not contract, in the months to come," said the Bank of Communications in a report. BoCom forecast that China's total trade surplus at around US$150 billion this year, slightly down from the US$155.1 billion in 2011. In the first seven months, China's trade surplus rose 23.4 percent annually to US$94.1 billion. "China's monthly trade surplus will continue to narrow," BoCom said. Last month, China had a trade surplus of US$25.1 billion, down from June's US$31.7 billion, as its exports edged up 1 percent from a year earlier in July, weakening sharply from the 11.3 percent rise in June. "The export slowdown is likely to be worrisome for policymakers as exports still account for one-third of China's economic output," said Chang Jian, a Barclays economist. "Soft exports may also lead to a weaker yuan, at least in the short term." Last week Barclays said it would lower its projection of China's gross domestic product growth in 2012 to 7.9 percent from a previous estimate of 8.1 percent. Chang said the government may boost its support for more investments to stabilize growth, loosen monetary policy and increase export tax rebates.  

Shanghai exports to EU down 7.9pc but city's Euro imports up 5.5pc

PostTime:2012-08-01 10:23:24 View:2274

BEING an important gateway for Sino-European trade, Shanghai recorded a year-on-year decline of 7.9 per cent in the export to Europe Union (EU) in the first half of this year, but EU imports jumped 5.5 per cent, Xinhua reports. Shanghai Customs officer Wang Chengming said import rise is significant to the EU, particularly in the context of the debt crisis. The EU keeps rolling out trade-protection measures against China, widening the imbalance of the Sino-European bilateral trade, and this might result in continuous growth of imports from EU. Shanghai Customs statistics show, in the first quarter, the value of China's imports from EU increased 3.3 per cent to US$104.76 billion. Thirty-four per cent was contributed by Shanghai. Shanghai imports grew 2.1 per cent, and those from EU grew 5.5 per cent year on year. In comparison, its imports from the US fell 2.6 per cent. In this period, Shanghai's automotive imports from EU grew 23.6 per cent to $5.76 billion, up 23.6 per cent, accounting for nearly 70 per cent of the city's vehicular import total. Pharmaceutical imports rose 34.4 per cent to $1.97 billion. Agricultural imports increased 24.9 per cent to $1.27 billion. Aircraft imports soared 215 per cent to $1.17 billion. Shanghai also imported 50,000 tonnes of dairy products from the EU, 83.1 per cent more year on year, mostly from Poland, Spain, Austria, Greece, Netherlands, Germany, France Danmark and Belgium. Many of these countries are deeply troubled by Euro-debt crisis. Evgenios Kalpyris, Consul General of Greece in Shanghai said the growth of Shanghai's European imports is not coincidence or a gift, but the result of China's opening-up policies and mutual political trust. On the other hand, affected by EU's trade protection measures, China's exports from EU dropped 0.8 per cent to $163.1 billion. Shanghai's export to EU even fell 7.9 per cent. Export to Germany fell 1.6 per cent, to Italy dived 30 per cent, to France slid 27.3 per cent, to Spain dropped 3.3 per cent.

Hong Kong exports increase 1.3pc while imports rise 0.7pc in May

PostTime:2012-07-19 11:04:58 View:2286

HONG KONG's total goods export volume rose 1.3 per cent in May year on year, attributable to 1.7 per cent increase in the volume of re-exports and 16.2 per cent decrease in domestic exports, according to Hong Kong Census & Statistics Department. The prices of Hong Kong's goods re-exports rose 4.1 per cent, and those of domestic exports were up 2.7 per cent. Overall, the prices of export goods increased four per cent in May. Comparing the first five months with the same period last year, the volume of Hong Kong's goods re-exports dropped 3.3 per cent, and that of domestic exports fell 24 per cent. Taken together, the volume of total goods exports decreased 3.7 per cent. From January to May, the prices of Hong Kong's goods re-exports were up 5.4 per cent, while those of domestic exports increased 3.1 per cent, contributing to a 5.4 per cent rise in the prices of total goods exports. Meanwhile, in May, the volume of goods imports rose 0.7 per cent year on year, and the prices of goods imports were up 4.3 per cent. Comparing the first five months with the same period last year, the volume of goods imports dropped 2.1 per cent, but the prices of goods imports increased 4.7 per cent.

China exports increase on US demand, but import growth continues to slow

PostTime:2012-07-18 08:00:44 View:2239

CHINA's exports are boosted by United States demand which offset the decline of its European primary export market in June, according to the General Administration of China Customs. Exports have overtaken imports in June at 11.3 per cent to US$180 billion, but were still down on the previous month. Imports were up 6.3 per cent year on year at $148 billion but plunged from the 12.7 per cent growth post in the previous month of May. Although total trade was up eight per cent in the first half to $2 trillion, 2012's second quarter was the sixth consecutive quarter of slowdown with projected growth of 10 per cent making 6.9 per cent in exports and just 5.1 per cent for imports.