In March this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province increased to 47.6 percent, up 1.7 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association (MIA). In the given month, the trend of the PMI for the steel sector in Hebei Province was different from that for the whole of China, which edged down by 1.8 percentage points month on month to 44.2 percent, as announced by the China Steel Logistics Committee (CSLC).
In March, the overall new order index for Hebei Province’s steel sector rose to 45.0 percent, up 2.3 percentage points compared to the previous month.
In the given month, the new export order index for Hebei Province’s steel sector increased to 42.5 percent, up 4.4 percentage points month on month.
In the given month, the production index for Hebei Province’s steel sector rose to 46.4 percent, up 5.9 percentage points month on month.
At the same time, the inventory index for finished steel in Hebei Province declined to 46.2 percent, down 1.4 percentage points month on month.
In March, the inventory index for raw materials in Hebei Province stood at 40.5 percent, down 4.7 percentage points month on month.
In the given month, the purchasing price index for raw materials in Hebei Province decreased to 13.1 percent, down 13.1 percentage points month on month.
As for April, demand for steel from downstream users may improve, which will positively affect steel prices, though MIA urged steel producers to pay close attention to production activities and to the demand situation in the steel market.