Hebei Province steel sector PMI decreases to 47.6 percent in June

Tuesday, 02 July 2019 11:57:29 (GMT+3)   |   Shanghai

In June this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province decreased to 47.6 percent, down 2.6 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association.

In June, the overall new order index for Hebei Province’s steel sector stood at 46.0 percent, down 3.1 percentage points compared to the previous month. In the given month, the production index for Hebei Province’s steel sector was at 48.9 percent, down 3.9 percentage points month on month, while the inventory index for finished steel in Hebei Province increased to 53.8 percent, up 3.8 percentage points month on month. In addition, the raw material inventory index for the steel sector in Hebei decreased to 42.3 percent, down 3.1 percentage points month on month.

The association considers that demand for finished steel in July will inevitably indicate a downward correction due to high temperatures and rainy weather, while the anticipated reduction in output will provide a certain degree of support for finished steel prices.

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