In April this year, the purchasing managers index (PMI) for the Chinese steel sector was at 49.2 percent, 1.4 percentage points lower than that recorded in March, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in April, the new order index stood at 49.2 percent, 2.0 percentage points lower than in March.
In April, the new export order index stood at 46.5 percent, 6.9 percentage points higher than in March. The downward momentum of export orders eased markedly, though still remaining below 50.0 percent in the contraction zone, indicating that demand in overseas markets has not genuinely recovered.
In April, the production index for the Chinese steel sector stood at 48.7 percent, 4.6 percentage points lower than in March.
In April, the finished steel inventory index stood at 42.3 percent, down 1.4 percentage points from March.
In April, the raw material inventory index declined to 50.0 percent, down 9.6 percentage points from March.
As for May, the steel industry is expected to maintain a steady movement. Steelmakers’ outputs may fluctuate within a limited range, while prices of raw materials and finished steel are likely to edge up.
