China targets quality efficient growth in 2013
   

Chinese authorities vowed to focus on quality and efficiency of economic growth in 2013, demonstrating their determination to ensure sustainable and healthy economic development after the previous pursuit of fast-track growth. A statement issued after the closure of central economic work conference, which set the tone for economic policymaking next year, said "enhancing quality and efficiency of economic growth" will be a "central task." The statement said ,"The global economy has entered a period of profound transition and correction from a period of fast growth in the pre-crisis years warning of rising protectionism and increasing pressure from potential inflation and asset bubbles. Easing measures, included the latest round of quantitative easing in the Unites States and monetary easing in other economies, have again pushed up global inflationary pressure.
Mr Yao Jingyuan a researcher from the Councilor's Office of the State Council, or China's cabinet, said the most prominent problem with the Chinese economy is no longer growth rate but its quality and efficiency, which will stay unsteady and unsustainable if these issues are not solved. Due to flagging exports and domestic efforts to contain runaway property prices, China's annual economic growth slipped to 7.4% in the third quarter this year, slowing for seven quarters in a row.
To boost quality growth, the statement said expanding domestic demand will be a strategic basis for China's development next year. It said that new growth points should be created in domestic consumption, which will serve as both a strong pulling power and foundation for the economy's sustained and healthy development. The country has been trying to restructure national economy to wean off its reliance on exports for growth, as its main trade partners like the European Union and the United States are embroiled in debt crisis.

  BMW China November sales up by 62.3%
   

China Knowledge reported that BMW AG the world's largest premium car maker, has said its auto sales in China rose 62.3% YoY to 31,090 units last month. Last month, sales of BMW brand cars grew 62% YoY to about 29,000 units, and sales of Mini brand vehicles jumped 66.1% YoY to 2,085 units. The huge increase last month was mainly boosted by the good sales of its BMW X1 and BMW 3 series vehicles. In the first eleven months of this year, BMW saw its China sales amount to 295,974 units, up 37.6% from the same period of last year, including 275,000 units of BMW brand vehicles.

  Chinese daily crude steel output in early December hit 1.65 Mt
   

According to China Iron and Steel Association, the daily crude steel production of its members in early December was 1.6569 million tonnes, up 1% from that in late November. Meanwhile, the figure nationwide is estimated to be 1.9450 million tonnes in early December, decreasing by 0.8% compared to the last ten days of November.

  US DOC raises dumping duty on one Chinese OCTG exporter
   

The US Department of Commerce announced the final results of its administrative review of the antidumping order on oil country tubular goods from China. The review covered the Chengde group of companies Jiangsu Chengde Steel Tube Share Co Ltd; Taizhou Chengde Steel Tube Co Ltd and Yangzhou Chengde Steel Tube Co Ltd during the period from May 19th 2010 through April 30th 2011. The DOC calculated a final dumping margin of 172.54% for the Chengde Group. The previous dumping duty deposit rate for the Chengde Group was 32.07%. The DOC also rescinded the reviews of 52 other Chinese producers/exporters because US Steel, which had originally requested that these companies be reviewed, withdrew its request. Accordingly, effective, December 17th 2012, the dumping duty deposit rate became 172.54 percent for the Chengde Group. In addition, the DOC will send instructions to US Customs and Border Protection to liquidate entries that were made during the period of review.

  Thailand to Start AD Investigation on China's High Carbon Coiled Rebar
   

China's Ministry of Commerce claimed that Thailand government has responded the application of local NTS Steel Group and decided to start AD investigation on high carbon coiled rebar imported from China. The involved customs tariff codes are 72139190021, 72139190022, 72139190030, 72139190031, 72139190090, 72279000014, 72279000090, etc.

  Rebar extends gain on demand outlook as China flags urban growth
   

Steel reinforcement bar advanced to the highest level in almost five months after the ruling Chinese Communist Party signaled it will boost urbanization to underpin economic growth in the world's largest user. Rebar for delivery in May rose 0.7% to CNY 3,812 per tonne on the Shanghai Futures Exchange, the highest price since July 19 and the gain pared this year's loss to 9.5%.
The contract jumped 2.8 % on December 14, the biggest one day gain in three months, after data suggested China's manufacturing may expand at a faster pace.

  Chinese steel output in 2012 up by 3% - CISA
   

Mr Zhang Changfu secretary general of the China Iron and Steel Association at an annual meeting about China's steel market outlook said that China is expected to witness 723 million tonnes of crude steel output this year, only a 3% increase compared with the same period last year and the lowest growth rate since 2000. Fixed investment in the steel industry has totaled CNY 414.27 billion (USD 66.32 billion) in the first 10 months of this year, up 3.9% compared with the same period last year, Zhang said, adding that the increasing investment will aggravate current production overcapacity. Mr Zhang said that large steel enterprises have cut production but the output of small and medium-sized steel companies is expected to surge by around 20% YoY in 2012.

  Chinese steel output growth in 2012 likely to be lowest since 2000
   

China is expected to witness 723 million tonnes of crude steel output this year, only a 3% YoY, lowest growth rate since 2000 Mr Zhang Changfu secretary general of the China Iron and Steel Association, at an annual meeting about China's steel market outlook, also said that fixed investment in the steel industry has totaled CNY 414.27 billion (USD 66.32 billion) in the first 10 months of this year, up 3.9 percen% YoY. Mr Zhang said that increasing investment will aggravate current production overcapacity. He said “Large steel enterprises have cut production but the output of small and medium sized steel companies is expected to surge by around 20% YoY.”

  Wisco raises steel flat product prices for next January
   

Wuhan Iron and Steel Group Corporation (Wisco) released its list prices for next January. Wisco decide to raise its list prices for hot rolled steel and cold rolled steel by RMB60/ton and RMB50~RMB100/ton averagely for next January. Besides, the company also hiked its list prices for tinplate and non-oriented silicon steel sheet by RMB100/ton and RMB70/ton respectively for next January. However, Wisco remained its list prices for steel wire, section steel and coasted steel products unchanged.