Posted on 26 Sep 2022
China's production of air-conditioners, televisions and washing machines increased on year in August, mainly due to the low base of last year, while that of refrigerators posted an on-year fall, according to new data released by China's National Bureau of Statistics (NBS).
Production of televisions reached 18 million units during August, growing by 16.5% on year or 9.2% month, according to the NBS's data.
Sales of televisions were robust last month, mainly thanks to better demand for China-made sets from overseas buyers, a Shanghai-based analyst said.
In August, Chinese makers such as Haier exported some 9.1 million TVs, higher by 21.3% on year, according to data from China's General Administration of Customs (GACC). Over January-August, China's total television exports added up to 61.1 million units, increasing by 16.8% on year, the statistics show.
Sales of air-conditioners during August also performed well, as the heatwave across China had lent some support to sales, a Beijing-based source said. However, air-con sales are likely to decline on month in September, as the market has entered a slack consumption period for coolers, now that the weather is becoming milder.
Production costs among white goods makers had declined last month. As of August 31, the domestic price of 1.0mm CRC under Mysteel's assessment had slipped by Yuan 77/tonne ($10.9/t) from August 1 to reach Yuan 4,476/t including the 13% VAT.
Last month, China's home appliance exports declined overall by 18.7% on year to 280.8 million units. Over January-August, 2.3 billion units of home appliances were exported, down 8.9% on year, according to the GACC data.
The export volume of home appliances has shown a clear fall recently, so total sales of Chinese home appliances will mainly depend on domestic sales, the source from Beijing observed.
Source:Mysteel Global
