National Bureau Of Statistics News

Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019. In total 292.7m tonnes have been processed so far this year according to the National Bureau of Statistics China.Despite the 12.0% growth in crude oil processing, Chinese crude oil supply, which includes imports and domestic production, has only grown by 2.3% in the first five months of this year.

June seaborne iron ore imports to reach 98.22 mln Tons; local mills to ramp up output to reap large margins. China's June seaborne iron ore imports are on track to rise to a record high, data on Thomson Reuters Eikon showed, stoking concerns of oversupply as hundreds millions of iron ore are being stockpiled at Chinese ports. Iron ore arrivals for June are set to be 98.22 million tonnes according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts. That would be the highest ever for the Supply Chain data going back to February 2016. The iron ore consumed by the world's biggest steelmaker mainly arrives by ship from miners in Australia and Brazil.

China's iron ore output jumped in June to its highest level since October 2015, data showed on Wednesday, the strongest sign yet that soaring prices have spurred miners in the world's top consumer of the steelmaking raw material to boost production. Output rose 5 percent from a year ago to 124.7 million tonnes, data from the National Bureau of Statistics showed. Prices have been on a tear in recent months as steel mills have churned out record volumes of metal, taking advantage of bumper margins. Beijing's infrastructure spending has boosted optimism about demand for construction-grade steel.

Global distillate markets remain heavily oversupplied but the glut will not clear unless the world economy avoids recession and there is a renewed acceleration in freight demand. Recent data have been mixed. The consumer side of the U.S. economy appears to be strong but the industrial side is still struggling, and in the rest of the world growth appears to be slowing. U.S. freight movements picked up at the start of the year but demand for moving manufactured products and raw materials across the country remains sluggish. Combined freight movements by road, rail, barge, pipeline and aircraft increased in December and January, the first time freight has increased for two consecutive months since November 2014 (http://tmsnrt.rs/1pa8DbM).

The Chinese economy grew by 7% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overall growth in six years. Growth during the quarter was strongest in the industrial sector (6.4%) and the service sector (7.9%), whereas the primary sector (3.2%) contributed to a lesser extent. The data confirms the economic outlook for China, which remains a slowing economy that is going through a transition from being heavily reliant on exports, manufacturing and construction to being one that runs on domestic consumer demand. The development is ongoing at high speed and data on industrial production in March and total retail sales of consumer goods in the first quarter confirmed this change is very much on.

The economic news from China this morning were somewhat comforting but highlights that the economy activity in the world’s largest economy is certainly slowing down, reports BIMCO. Behind the headline GDP, other economic indicators such as industrial production, electricity consumption, credit growth and real estate investments suggest that things are still settling down at a slower pace going forward, from what have seen in recent years. All parts of the global shipping industry feels the impact as the Chinese economy changes in growth pace, size and composition.

China's power output, a bellwether for economic activity, posted its first annual decline in more than four years in August, adding to evidence that the world's second-largest economy is losing momentum after a brief rebound in the second quarter. Power output in the world's top consumer fell 2.2 percent to 495.9 billion kilowatt hours (kWh) in August from a year earlier, data showed on Saturday. While the annual fall was in part due to the high reading last summer, when many cities were struck by a record heat wave, overall electricity production also posted its first fall in three months - a sign of slackening demand from major industrial users.

New data on three of the key indicators followed by BIMCO’s shipping market analyst sheds light on near-term and future market developments. The news follow up on BIMCO market reports and comments to commercial developments for the three main shipping segments. 1. China’s industrial production (IP) grew by 9% in July over the same period last year, according to the National Bureau of Statistics in China. This is a minor decrease from 9.2% in June, which was a three-month-high.

BIMCO reported that China's average daily crude steel output reached a record 2.29 million metric tons in April as steel mills lifted production to meet seasonal demand, though signs of weakness in factory output and the property sector could feed through later in the year. Steel demand in China traditionally improves in Q2 as construction and manufacturing pick up with better weather. April's crude steel output of 68.84 million metric tons was below the record high of 70.25 million metric tons in March, according to China's National Bureau of Statistics.

China's refinery crude throughput in March rose 2.6 percent from a year earlier to 41.92 million tonnes, or 9.87 million barrels per day (bpd), data from the National Bureau of Statistics showed on Wednesday. Daily crude runs, however, fell 5.7 percent from 10.47 million bpd in February, as refineries scaled back production amid high product stocks. (Reporting by Judy Hua and Jonathan Standing; Editing by Ed Davies) (1 Tonne=7.3 barrels