Profit Growth of Automobile Manufacturing Industry Continued To Slow in First Three Quarters

The Russia-Ukraine conflict has had a serious impact on the German automobile industry.

According to the data released by the National Bureau of Statistics, from January to February of 2022, the completed operating income of the automobile manufacturing industry continued to maintain a small growth year-on-year, reaching 1.37191 trillion yuan.

This is a roundup of news in the steel industry for last week.

The output of precursors stood at 59,000 mt in November, up 2% MoM and 50% YoY. On the supply side, the companies were basically not affected by power rationing, except for some enterprises in Zhejiang in early November. In addition, the overall supply has increased due to the ramped-up output of and commissioning of new capacity at some major precursor companies.

Japan's industrial output rose for the first time in four months in October as the reopening of Asian factories eased supply constraints for carmakers, bringing some hope to an economy that is highly dependent on exports as the country struggles to achieve a steady economic recovery, according to foreign media reports.

The PMI for the steel downstream sectors stood at 47.81 in August, down 2.3 points month on month and 2.25 points year on year. The seasonally-adjusted composite index stood at 48.54, down 2.77 points on the month and 2.13 points on the year.

The PMI for downstream steel sectors stood at 50.11 points in July, down 0.59 point month on month but up 0.23 point year on year.

Shougang Group successfully developed cold-rolled galvanized automobile sheet DP980 recently, csteelnews.com reported.

According to recent study, the Chinese end-of-life vehicles (ELVs) is likely to grow rapidly, mainly on the back of rising car ownership rates.