In February this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province decreased to 47.6 percent, down 2.2 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association.
In February, the overall new order index for Hebei Province’s steel sector stood at 47.6 percent, down 6.2 percentage points compared to the previous month. Meanwhile, the new export order index for the sector was at 46.2 percent, increasing by 9.5 percentage points month on month. In the given month, the production index for Hebei Province’s steel sector was at 47.7 percent, up 1.3 percentage points month on month, while the inventory index for finished steel in Hebei Province increased to 45.5 percent, up 10.3 percentage points month on month. In addition, the raw material inventory index for the steel sector in Hebei increased to 43.2 percent, down 5.0 percentage points month on month.