China's heaviest rainfall in 1,000 years, causing catastrophic flooding

China's heaviest rainfall in 1,000 years, causing catastrophic flooding

China's Henan province received heavy rains after the floods, which triggered large-scale evacuations that killed at least 33 people, while minor disruptions in production and commodity production continued.

12 people have been killed in a flood of subway cars in the capital, Zhengzhou, in the death toll. Eight people are missing, according to government figures. According to the Chinese Meteorological Agency, heavy rain is expected to continue until Thursday in Henan and neighboring Hebei province around Beijing.

The central Chinese province has received the heaviest rainfall since Tuesday, with the city of Zhengzhou receiving more than 10 million dollars worth of rain a year in three days. Across Henan, 3 million people have been affected and 380,000 were evacuated as of early Thursday morning.

The floods in Henan, a hub for agriculture and food production, coal and metals and heavy industry, are being meticulously monitored for any serious economic disruption, although the damage seems to have not yet occurred. Nissan Motor Co Ltd, which operates a plant in a joint venture with Dongfeng Motor Group Co Ltd, has suspended operations for a second day at the factory, a spokesman said. SAIC Motor Corporation, China's largest automaker, said its plant in Zhengzhou was not damaged.

Meanwhile, Taiwan's Han Hai Precision Industry, which owns a large iPhone manufacturing plant in Zhengzhou, said the floods did not have a direct impact on the facility.

In terms of materials, the flood led to the halt or reduction of some aluminum production in Henan, and a small amount of iron ore transportation and scrap metal purchases were disrupted, researcher Mistel said. The National Meteorological Agency says only 12% of the total acreage affected in Henan has been sown as the overall damage is "not significant" as continuous rains flood some corn fields.

The future of hot coal in China is declining and energy traders have not set prices for any significant impact from the floods to the supply of coal.

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