Strong Economic Results Expected to Moderate in H2 2017

摘要

Chinese iron ore imports were up 3.5%, month on month, to reach 94.7Mt in June. Cumulative imports fromJanuary to June 2017 were 9.2% higher year on year at 539Mt. Higher imports in June were supported byincreased shipments from Australia, which lifted 10.8% compared to Brazil’s exports which were down 3.8%.China’s GDP growth was 6.9% in the June Quarter of 2017, above industry expectation. The same as the growthof 6.9% in the March Quarter and above the government’s target of 6.5% for 2017. For the first six months of2017, China’s rate of investment in real estate development was up 8.8% year on year, compared to 6.9% in2016. Floor space of houses newly started from January to June was 10.6% higher year on year. In addition,China’s fixed asset investment in infrastructure was 21.1% higher, year on year, in the similar period.Nevertheless, China’s manufacturing purchasing manager index (PMI) for July fell to 51.4 from 51.7 in June.