In October this year, the purchasing managers index (PMI) for the Chinese steel sector was at 52.3 percent, down 1.4 percentage points as compared to September, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
In addition, in October the production index for the steel sector decreased by 1.5 percentage points compared to the previous month to 58.3 percent. Meanwhile, in October the sub-index for new orders in the steel sector saw a decrease of 4.7 percentage points month on month to 55.9 percent.
In the given month, the finished steel inventory index increased to 47.5 percent, up 1.2 percentage points month on month, the index for new export orders saw a month-on-month increase of 6.7 percentage points to 47.2 percent, while the purchase price index of raw materials in the Chinese steel sector stood at 44.1 percent, indicating a drop of 16.1 percentage points month on month.