In March this year, the purchasing managers index (PMI) for the Chinese steel sector was at 46.8 percent, down 3.8 percentage points as compared to February, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in March the production index for the steel sector decreased by 7.5 percentage points compared to the previous month to 44.7 percent. Meanwhile, in March the sub-index for new orders in the steel sector saw a decline of 1.5 percentage points month on month to 46.3 percent.
In the given month, the finished steel inventory index increased to 31.2 percent, down 29.3 percentage points month on month, while the purchase price index of raw materials in the Chinese steel sector stood at 49.6 percent, indicating a decrease of 13.4 percentage points month on month.