In September this year, the purchasing managers index (PMI) for the Chinese steel sector was at 47.7 percent, 2.1 percentage points lower than that recorded in August this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
Moreover, in September, the new order index stood at 45.2 percent, 4.5 percentage points lower than in August.
In September, the production index for the Chinese steel sector stood at 45.7 percent, 2.3 percentage points higher than in August.
In September, the finished steel inventory index stood at 54 percent, 1.0 percentage point higher than in August.
In September, the raw material purchase volume index stood at 48.5 percent, 5.0 percentage points lower than in August.
As for October, demand for finished steel will improve as construction activities will fully resume after the National Day holiday (October 1-8). Meanwhile, some manufacturing sectors are entering their peak season, which will boost demand for steel. It is thought that finished steel prices may rebound in October.
