Posted on 31 Oct 2022
China's production of air-conditioners, televisions, washing machines and refrigerators rose on year in September, mainly because of the low base of last year, according to new data released by China's National Bureau of Statistics (NBS).
Among four key home appliances, production of televisions was the highest in volume last month, with output growing by 20.4% on year to 21 million units. In the first nine months of 2022, production of televisions amounted to 142.3 million units, up by 9.2% on year, according to the NBS data.
Last month, sales of TVs also improved, mainly due to the robust demand from overseas buyers. Besides, some distributors probably stocked up some products as traditionally, September and October are strong months for TV sales, a Beijing-based source said.
In September, 8.9 million China-made TVs were exported, higher by 5.5% on year, according to the latest data released by China's General Administration of Customs. Over January-September, the total export volume of TVs amounted to 70 million units, increasing by 15.1% on year, the Customs data show.
Many air-conditioner producers ramped up production in September, as their stocks of products hovered at a relatively low level after consumers' active buying for air-conditioners in July and August when heatwaves were sweeping across China, the Beijing source commented.
During September, production of air-conditioners posted the sharpest monthly on-year increase so far this year of 20.9% to reach 18.6 million units, the NBS data showed.
Better profits on appliance sales encouraged white goods makers to produce more, as the production costs slipped with low raw materials' prices, a Shanghai-based analyst said.
For example, the spot price of 99.99% grade copper under Mysteel's assessment slipped by Yuan 247/tonne ($34.1/t) from August 31 to Yuan 62,496/t including the 13% VAT as of September 30.
Source:Mysteel Global
