In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 49.5 percent, down 1.4 percentage points as compared to January, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in February the production index for the steel sector decreased by 6.5 percentage points compared to the previous month to 45.4 percent. Meanwhile, in February the sub-index for new orders in the steel sector saw a decrease of 4.5 percentage points month on month to 51.3 percent.
In the given month, the finished steel inventory index increased to 52.5 percent, down 3.4 percentage points month on month, the index for new export orders saw a month-on-month decrease of 1.5 percentage points to 43.9 percent, while the purchase price index of raw materials in the Chinese steel sector stood at 48.7 percent, indicating a rise of 3.2 percentage points month on month.