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China Shipbuilding Industry Remained Robust In June As Shipbuilding Enterprises Were Enthusiastic About Production

  • Jul 03, 2023, at 5:18 pm
  • SMM
The PMI for the shipbuilding sector stood at 50.69, up 0.50 point month-on-month, but down 0.67 point year-on-year. After seasonal adjustment, the composite index was 49.00, down 0.68 point MoM and 0.62 point YoY.

The PMI for the shipbuilding sector stood at 50.69, up 0.50 point month-on-month, but down 0.67 point year-on-year. After seasonal adjustment, the composite index was 49.00, down 0.68 point MoM and 0.62 point YoY. The production index rose 1.58 points on the month and fell 0.25 point on the year to 51.77, and the index for new orders rose 0.36 point on the month and fell 1.68 points on the year to 50.81. Shipbuilders kept 43.10 days of raw material inventories on average in June, down 0.03 day from the previous month.

The number of days of raw material inventories is for reference as the survey sample may have changed.

Shipbuilding enterprises were enthusiastic about production this month. Medium and large-scale enterprises were basically in full operation, while operations at small-scale enterprises were relatively poor. The volume of new orders also increased month-on-month. Orders at some large domestic shipping companies have been scheduled until after 2026-2028. New orders were mainly driven by clean energy power ships. In addition, the orders of cruise ships also increased significantly. Raw material prices inched higher, and shipbuilders restocked mostly as needed.

  • Industry
  • Steel
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