COMMENT – Divergent recoveries in Asia: History is not destiny

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Asian economies are performing better than expected. In the IMF’s latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent—in regional terms, a better outcome than other parts of the world. This is largely driven by stronger-than-expected performance among […]

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Global crude steel output fell by 0.9% in 2020; China’s share rises to 56.5%

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Asia produced 1,374.9 Mt of of crude steel in 2020, an increase of 1.5% compared to 2019, worldsteel said, adding that China’s crude steel production in 2020 reached 1,053.0 Mt, up by 5.2% on 2019. China’s share of global crude steel production increased from 53.3% in 2019 to 56.5% in 2020. India’s crude steel production […]

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India’s steel production declines by more than 10% in 2020, while China and Russia produced more steel than previous year: Worldsteel

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Bucking the global trend, China and Russia produced more steel in 2020 than in 2019. Among the top five nations, production declined in India, Japan and the United States by up to 17.2 per cent. Global crude steel production reached 1,864.0 million tonnes for the year 2020, down by 0.9 per cent compared to 2019. […]

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Brent crude seen at $45/barrel next year; China, Asian oil cos to benefit – Fitch

Fitch Ratings expects Brent crude oil prices to be around $45/barrel next year which would support  a modest improvement in the credit metrics of most Chinese and south-east Asian national oil companies. The benchmark oil price was recently hovering at $41/barrel, but has since then rebounded to close to $45/barrel amid hopes of higher demand because […]

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Asia’s slowing energy demand to hit coal producers

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Asia’s slowing energy demand growth will impact coal power producers the hardest with governments tightening environmental standards and introducing policies to drive renewable energy, Moody’s Investors Service said on Thursday. “For coal power producers, tariff schemes to compensate for lower dispatch volumes or strategies to diversify their energy mix away from coal power are increasingly important,” […]

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Developing Asia’s economic growth to contract in 2020; China to grow, India seen shrinking – ADB

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Economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, as the region starts to emerge from the economic devastation caused by the coronavirus disease (COVID-19) pandemic, according to a report released by the Asian Development Bank (ADB).  The Asian Development Outlook (ADO) 2020 Update forecasts -0.7% gross domestic product (GDP) growth for developing Asia this year — marking its first negative economic growth since the early 1960s. Growth will […]

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