In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 46.7 percent, 3.2 percentage points lower than that recorded in January this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in February, the new order index stood at 40.3 percent, 9.9 percentage points lower than in January.
In February, the new export order index stood at 49.7 percent, 11.8 percentage points higher than in January, ending the month-on-month declines seen in the previous three consecutive months.
In February, the production index for the Chinese steel sector stood at 46.8 percent, 1.6 percentage points lower than in January.
In February, the finished steel inventory index stood at 45.3 percent, down 6.9 percentage points from January.
In February, the raw material purchase volume index stood at 41.8 percent, down 16.1 percentage points from January.
In February, the raw material purchase price index rose to 45.2 percent, up 0.9 percentage points from January.
As for March, the full resumption of work after the Chinese New Year holiday, increased infrastructure investment, the continued recovery in manufacturing and the gradual rebound in exports will increase the demand for steel, resulting in positive momentum for steel prices.