In November this year, the purchasing managers index (PMI) for the Chinese steel sector was at 48.0 percent, 1.2 percentage points lower than that recorded in October 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 November, the new order index stood at 48.9 percent, 1.3 percentage points higher than in October.
The tighter global trade environment exerted a negative impact on the new export order index, which indicated a decline, falling below 50 percent in November, following 54.3 percent recorded in October this year.
In November, the production index for the Chinese steel sector stood at 46.0 percent, 3.8 percentage points lower than in October.
In November, the finished steel inventory index stood at 49.1 percent, down 2.6 percentage points from October.
In November, the raw material purchase volume index stood at 46.3 percent, down 2.5 percentage points from October.
In December, the demand for steel may slacken due to the traditional offseason, while environmental protection measures during the winter heating season in northern China may also affect the steel market. It is thought that finished steel prices in China will likely edge down in December.
