In March this year, the purchasing managers index (PMI) for the Chinese steel sector was at 50.6 percent, 3.9 percentage points higher than that recorded in February, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in March, the new order index stood at 51.2 percent, hitting a record new high for the past eight months, 10.9 percentage points higher than in February.
In March, the new export order index stood at 39.6 percent, 10.1 percentage points lower than in February. First, the new steel export licensing policy has had an impact. Second, geopolitical conflicts, escalating international trade frictions and tightening demand in certain regions have directly impacted the export orders of China's steel industry.
In March, the production index for the Chinese steel sector stood at 53.3 percent, 6.5 percentage points higher than in February.
In March, the finished steel inventory index stood at 43.7 percent, down 1.6 percentage points from February.
In March, the raw material purchase volume index stood at 60.3 percent, up 18.5 percentage points from February.
In March, the raw material purchase price index rose to 68.5 percent, up 23.3 percentage points from February.
As for April, China’s steel industry is anticipated to maintain a stable and positive trend amid expected improvements in demand. Steel mills’ outputs will likely maintain steady growth, while raw material and finished steel prices may edge up further.
