In November this year, the purchasing managers index (PMI) for the Chinese steel sector was at 37.0 percent, down 5.2 percentage points as compared to October, hitting the lowest level since December 2008 and remaining under the 50 percent threshold for the 19th consecutive month, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in November the production index for the steel sector decreased by 7.7 percentage points compared to the previous month to 35.4 percent. Meanwhile, in November the raw material inventory index for the sector stood at 33.4 percent, down 8.2 percentage points month on month, while the sub-index for new orders saw a decrease of 8.2 percentage points month on month to 29.7 percent.
In the given month, the finished steel inventory index increased to 49.2 percent, up 3.5 percentage points month on month, the index for new export orders saw a month-on-month increase of 1.9 percent to 41.2 percent, while the purchase price index in the Chinese steel sector stood at 24.6 percent, indicating a decrease of 4.8 percentage points month on month.