Indonesia is the world’s largest nickel producer. Supply from Indonesia continues to surge to meet growing demand from the electric vehicle (EV) battery sector. Indonesia’s surging output to keep market in surplus in the third quarter However, they believe it will be smaller, more targeted measures that may not move the GDP figure substantially. Our China economists expect the government to step in and provide some support in due course.
Instead, it has been the non-manufacturing sector, buoyed by consumer spending, that has been keeping China's economy growing in the first half of this year. The official PMI index for the manufacturing sector has been below the breakeven 50 level since April. The official PMI, which tends to focus on larger, state-owned enterprises, showed manufacturing activity remaining in contraction territory for a third straight month.Īpart from a short-lived bounce in the manufacturing sector after the zero-Covid measures were shelved in early December 2022, China's manufacturing has been lagging. The latest data from China is showing the country is still struggling to rebound following prolonged Covid-19 lockdowns.Ĭhina’s manufacturing activity expanded at a slower pace in June – the Caixin manufacturing purchasing managers index, which covers mainly smaller and export-oriented businesses, hit 50.5 last month, easing from 50.9 in May.
#China stainless steel upright zer factory drivers#
One of the key drivers for the price decline has been disappointing recovery in Chinese demand.Ĭhina is the world's largest producer and consumer of stainless steel – key for nickel demand, accounting for 70% of total consumption of the metal.
0 kommentar(er)
