China's steel sector PMI declines to 47.9 percent in July

Thursday, 01 August 2019 10:39:05 (GMT+3)   |   Shanghai

In July this year, the purchasing managers index (PMI) for the Chinese steel sector was at 47.9 percent, down 0.3 percentage points as compared to June, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).

In addition, in July the production index for the steel sector decreased by 0.6 percentage points compared to the previous month to 48.5 percent. Meanwhile, in July the sub-index for new orders in the steel sector saw a decline of 2.1 percentage points month on month to 45.8 percent.

In the given month, the finished steel inventory index increased to 43.7 percent, up 4.4 percentage points month on month, while the purchase price index of raw materials in the Chinese steel sector stood at 66.5 percent, indicating a rise of 3.0 percentage points month on month.

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