Last week, crude oil posted its biggest weekly decline since October, non-farm payrolls far exceeded expectations and the dollar posted its biggest weekly gain in seven weeks. The Dow and S & P 500 closed at record highs on Friday. In january-july, China’s total import and export value was 21.34 trillion yuan, up 24.5 percent year-on-year. Of this total, exports totaled 11.66 trillion yuan, up 24.5 percent year on year; imports totaled 9.68 trillion yuan, up 24.4 percent year on year; and the trade surplus totaled 1.98 trillion yuan, up 24.8 percent year on year. China’s foreign exchange reserves stood at $3,235.9 BN at the end of July, compared with an estimated $3,227.5 BN, up from $3,214 BN. In the first half of the year, 28 provinces, autonomous regions and municipalities achieved double-digit growth in fiscal revenue. Of these, 13 regions, including Hubei and Hainan, saw year-on-year revenue growth of more than 20 percent. Guangdong topped the list with 759.957 billion yuan in fiscal revenue. By the decline in food prices and the tail-up factors such as low impact, CPI is expected to return to a “zero era. “. The PPI may continue to be high, although the consensus forecast is that year-on-year CPI inflation may ease to about 0.8 per cent in July. The Ministry of Water Resources and the Meteorological Bureau jointly issued a meteorological warning for the Orange Mountain flood disaster. It is expected that from 20:00 on August 8 to 20:00 on August 9, southwest of Hubei, southwest, central and northeast of Chongqing, north of Guizhou, northwest of Yunnan, the south of Shaanxi Province and some other areas are more likely to have mountain torrents. Nonfarm payrolls rose by 943,000 in July, the largest increase since April last year. The increase is estimated at 858,000, compared with an earlier increase of 850,000.
As of Aug. 6, the 62 percent iron ore price index was at $170.85 per dry ton, down $51.35 from a July 7 session high of $222.2 per dry ton, as monitored by Mysteel. In August, the beijing-tianjin-hebei leading steel plant planned to release 1.769 million tons of steel, an increase of 22,300 tons compared with the previous month, and a decrease of 562,300 tons compared with the previous year. Steel Plant Building Materials production profit is low, hot metal to plate transfer, direct selling billet situation is still not reversed. Of this total, 805,000 tons will be released to the Beijing region, an increase of 8,000 tons from the previous year and a decrease of 148,000 tons, while 262,000 tons will be released to the Tianjin region, an increase of 22,500 tons from the previous year and a decrease of 22,500 tons. At the end of last week, the price of steel billet in Tangshan was stable at 5080 Yuan/ton. Angang plans to overhaul the two wire mills in turn from August 1 to August 24, affecting a combined output of about 70,000 tons. China Iron and Steel Association: In late July, key statistics showed that the daily output of crude steel in steel enterprises was 2.106 million tons, down 3.97 percent from the previous month and 3.03 percent from the previous year. This is the first time since the beginning of this year that it is lower than the same period last year. With China’s crude steel production decline, the price of imported iron ore began to fall. In July, China exported 5.669 million tons of steel products, a year-on-year increase of 35.6 percent; from January to July, China exported 43.051 million tons of steel products, a year-on-year increase of 30.9 percent; from July, China imported 1.049 million tons of steel products, a year-on-year decrease of 51.4 percent; from January to July, China imported 8.397 million tons of steel products, year-on-year decline of 15.6% . In July, China imported 88.506 million tons of iron ore and its concentrate, a year-on-year decrease of 21.4 percent. From January to July
Post time: Aug-09-2021