![]() But its crude steel output has declined for three successive months, as today’s Chart of the Day based on World Steel Association data shows. In steel, for example, in the first 6 months of 2023, it produced 57 percent of global steel production and is equally a heavyweight on the steel consumption front as well. It raises the risk of a surplus in a wide range of commodities, particularly in ferrous and non-ferrous metals, where possibly no single country equals China’s weight. Surplus metal sloshing around the world seeking markets is never good news. But the global economy is anyway being slowed down to curb inflation, so appetite has weakened. If its domestic economy softens, then its industries will have to rely more on export demand to fill orders. But China’s status as a big consumer and producer of commodities makes the situation a bit complicated. If deflation takes hold, then its aftereffects could be severe, says the report.Ĭooling prices may be seen as good news in some quarters such as companies which buy these to make consumer products, and consumers who buy from such companies. If the rest of the world, at least the major economies, is worried about bringing inflation under control without hurting growth (read this piece on loose financial conditions in the US), then China has a different problem. Its economy is finding the going tough. A WSJ report talks about how China’s factory prices of commodities such as steel, cement and chemicals have been falling for months, and that signs of deflation are becoming more prevalent. While these measures may have their uses, reversing the slide in the economy sooner will require stronger fiscal and monetary policy measures, to make credit cheaper, put more money in the hands of consumers to spend and encourage companies to invest. On Monday, the government released a 20-point plan to increase consumption, according to an AFP report seen on Moneycontrol. While policymakers and government departments have been announcing measures to revive growth, analysts don’t expect Beijing to unleash a broader fiscal stimulus, according to the FT report. But non-manufacturing PMI activity fell as well, to 51.5 in July from 53.2 in the previous month, which was lower than the level of 53 that was forecast by Goldman Sachs, according to an FT news report. The market itself would not be very surprised as the actual reading was slightly above the consensus estimate. The July reading of the official manufacturing purchasing manager’s index (PMI) was at 49.3, the fourth consecutive month of contraction. India’s commodity producers will be focused on the country's economic outlook as efforts by China’s policymakers to revive growth now are not bearing much fruit. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.Ĭhina is facing a slew of problems on the economic, geopolitical and also on the internal political front as the disappearance of its foreign minister proves. Moneycontrol users, who are yet to subscribe to Pro, can access the virtual conference at 30% discount, i.e. Rs 9,999 Rs 6,999.The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. ![]() ![]() The 3-day Traders Carnival Event can be accessed by Pro users at 90% discounted price, i.e. Rs 9,999 Rs 999. Speakers for the event are Sivakumar Jayachandran, Vishal Mehta, Asit Pati Baran, Sharique Samsudheen, Thoviti Brahmachary, Shreyas Bandi, Subasish Pani, Vivek Gadodia, Vijay S Thakre and Piyush Chaudhry. > Join a crypto community and speed up your learning on crypto based projects > Learn five different ways of earning passive income from your Crypto - Staking-Mining-Farming-Lending-Borrowing - All at attractive APRs (Annual Percentage Rate) - Get dividends or rewards with your crypto > How to avoid ‘rug pull’ and just WHAT is rug pull? > Learn the metrics to enter new IDO (Initial DEX Offering) based projects for great multipliers (IDO is the equivalent of IPO in equity) > Strategies on Option buying & Option Writing This year again, Moneycontrol Pro, in association with Traders Carnival, is streaming the live sessions from 28th to 30th October, 2021. Session recordings will be made available 15-20 working days after the event ends on this page and will be accessible for the next three months only. Nine years and 14 Editions later, we are pleased to now announce the 15th Edition of the Carnival. TRADERS CARNIVAL started on 26th October 2012 in Bangalore, with its first edition. ![]()
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