In August this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province increased to 42.3 percent, up 1.6 percentage points month on month, rising to its highest level of the past three months, as announced by the Hebei Province Metallurgical Industry Association.
In August, the overall new order index for Hebei Province's steel sector stood at 44.3 percent, up 0.8 percentage points compared to the previous month. Meanwhile, the new export order index for the sector was at 50.0 percent, up 8.3 percentage points month on month. In the given month, the production index for Hebei Province's steel sector was at 43.3 percent, up 5.0 percentage points month on month. In August, the inventory index for finished steel in Hebei Province decreased to 40.5 percent, down 10.6 percentage points month on month. In addition, the raw material inventory index in Hebei Province decreased to 33 percent, down 0.7 percentage points month on month.