According to the China Federation of Logistics and Purchasing (CFLP), in February this year the purchasing managers index (PMI) of the Chinese steel sector stood at 42.8, as compared to 47.9 in January this year when the CFLP formally launched the PMI for the domestic steel sector.
The decline in the index in February reflected the continuation of the overall lackluster situation in the domestic steel sector as of the fourth quarter last year.
In February, the new order index for the Chinese steel sector was 36.0, unchanged from the January level, indicating that market demand remained characterized by weakness during the month in question.