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Worldsteel Short Range Outlook June 2020 2020-06-05

In 2020 worldsteel forecasts that steel demand will contract by 6.4%, dropping to 1,654 Mt due to the COVID-19 crisis.  In 2021 steel demand is expected to recover to 1,717 Mt, an increase of 3.8 % over 2020.This year’s reduction in global steel demand will be mitigated by ...

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Asian Automobile Industry Current Situation 2020-06-04

S.Korea's imported car sale posts double-digit growth in MaySouth Korea's imported car sale posted a double-digit growth last month on the back of strong demand for German luxury brands, industry data showed Wednesday.The number of imported vehicles sold here was 23,272 i...

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European Automobile Industry Current Situation 2020-06-03

Ireland's new car sales in May down by 72 pctA total of 1,751 units of new cars were sold in Ireland in May, down by 72.3 percent when compared with 6,320 units sold in the same month of last year, said the Society of the Irish Motor Industry (SIMI) on June 2.Total sales of n...

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Manufacturing sector presses ahead as work restarts quicken in May 2020-06-02

Employees work at an auto manufacturing plant in Qingzhou, Shandong province. [Photo/WANG JILIN FOR CHINA DAILY]China's manufacturing sector expanded at the highest rate last month since the COVID-19 outbreak, as the rebound in production quickened, a private survey said...

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China’s Vehicle Inventory Alert Index in May down by 4.6 percentage points MoM 2020-06-01

China's Vehicle Inventory Alert Index (VIA) stood at 54.2% in May, which dropped 4.6 percentage points over a month ago, while edged up 0.4 percentage points over a year ago, according to the China Automobile Dealers Association (CADA). However, it was still above the officia...

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South Africa initiates safeguard investigation on bolts 2020-05-29

The South African International Trade Administration Commission has issued notice of a safeguarding investigation against increased imports of hexagon head steel bolts, imported under tariff code 73181543.The investigation is in response to an application lodged by the South Afri...

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Factory profit decline slows 2020-05-28

Employees work at a steel plant in Dalian, Liaoning province. [Photo by WANG YANG/FOR CHINA DAILY]Effective bailouts, rebound in sales and production resumptions bolster sentimentProfits at industrial firms declined at a slower pace in April as production and sales rebounded amid...

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China's industrial profits down 27.4% in first four months 2020-05-27

Workers are seen at a factory of Great Wall Motors in Yongchuan district of Chongqing, Southwest China, March 18, 2020. [Photo/Xinhua]BEIJING - Profits of China's major industrial firms continued to fall in the first four months of 2020, but the decline was seen to ...

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Producer prices in April 2020 drop by 1.9% compared with 2019. 2020-05-26

In April 2020 the index of producer prices for industrial products decreased by 1.9% compared with the corresponding month of the preceding year. In March the annual rate of change all over had been –0.8%, as reported by the Federal Statistical Office (Destatis). Compared with t...

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The UK’s new MFN tariff regime (UKGT): Zero tariff for fasteners? 2020-05-25

The Government has this morning (19 May) announced the UK's new MFN tariff regime, the UK Global Tariff (UKGT). This will replace the EU's Common External Tariff on 1 January 2021 at the end of the Transition Period.Our new tariff is tailored to the needs of the UK econom...

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