In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 50.6 percent, down 0.9 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 increased by 5.4 percentage points compared to the previous month to 52.2 percent. Meanwhile, in February the sub-index for new orders in the steel sector saw a decline of 5.6 percentage points month on month to 47.8 percent.
In the given month, the finished steel inventory index increased to 60.5 percent, up 18.1 percentage points month on month, while the purchase price index of raw materials in the Chinese steel sector stood at 63.0 percent, indicating an increase of 15.2 percentage points month on month.