The China Securities Regulatory Commission (CSRC), the country’s governing body of all futures exchanges, has granted its approval, allowing three commodity exchanges to launch options contracts for six industrial products over June-August for trading, according to its official post on June 12.
China’s silicomanganese (SiMn) prices still struggled in the downside for the third week over June 8-12, and the price of the 6517 grade SiMn in North China fell another Yuan 75/tonne ($10.6/t) on week to Yuan 6,600/t EXW including the 13% VAT as of June 12, Mysteel assessed, as demand had been thinning from domestic steel mills.
Chinese industry continued to recover in May, recording year-on-year growth of 4.4%, according to the latest release of China’s National Bureau of Statistics published on June 15. The May result was faster than the 3.9% for April – the first month of positive growth after several negative months when the COVID-19 outbreak was raging, Mysteel Global notes.
China’s pig iron output rose to a historical high of 77.32 million tonnes in May, up 2.4% on year and 7.4% on month, according to the latest data from the country’s National Bureau of Statistics (NBS) released on June 15. The previous high was 72.19 million tonnes recorded in May 2019, Mysteel Global notes.
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.
China’s hot-rolled coil prices remained largely steady amid disciplined production pace, but rebar prices softened moderately over June 8-12, as demand especially in South China had been severely affected by the heavy rainfalls while production continued trending up, though the high steelmaking raw material prices had been lending support to the domestic steel prices for now.
In May, China produced about 319 million tonnes of raw coal for all utilization purposes, dipping by 0.1% on year, and the country’s coke output declined by 3.2% on year to about 39 million tonnes, according to the latest release by the country’s National Bureau of Statistics. A detailed report will be posted