In February this year, the purchasing managers index (PMI) for the Chinese steel sector was at 51.4 percent, up 1.7 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 1.8 percentage points compared to the previous month to 50.4 percent. Meanwhile, in February the sub-index for new orders saw an increase of 5.0 percentage points month on month to 55.3 percent.
In the given month, the finished steel inventory index increased to 47.7 percent, up 1.8 percentage points month on month, the index for new export orders saw a month-on-month increase of 2.5 percentage points to 48.7 percent, while the purchase price index in the Chinese steel sector stood at 60.4 percent, indicating a increase of 1.5 percentage points month on month.