Hebei Province steel sector PMI decreases to 47.4 percent in July

Thursday, 01 August 2019 14:22:00 (GMT+3)   |   Shanghai

In July, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province decreased to 47.4 percent, down 0.2 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association.

In July, the overall new order index for Hebei Province’s steel sector stood at 47.8 percent, up 1.8 percentage points compared to the previous month. In the given month, the production index for Hebei Province’s steel sector was at 44.0 percent, down 4.9 percentage points month on month, while the inventory index for finished steel in Hebei Province increased to 46.5 percent, decreasing by 7.3 percentage points month on month. In addition, the raw material inventory index for the steel sector in Hebei rose to 46.2 percent, up 3.9 percentage points month on month.

The association estimated that the demand for finished steel in August will likely improve as this month is a transitional period when steel consumption moves from the offseason towards the peak season. At the same time, production cuts in August will bolster finished steel prices. It is thought that finished steel prices in Hebei Province will likely move on a stable trend in August.

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