Steel sector PMI in Hebei declines to 43 percent in September

Friday, 08 October 2021 13:44:14 (GMT+3)   |   Shanghai

In September this year, the purchasing managers' index (PMI) of the steel sector in China’s Hebei Province decreased to 43.0 percent, down 4.3 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association (MIA).

In the given month, the trend of the steel sector in Hebei Province was different from that for the whole of China, which rose by 3.2 percentage points month on month to 45 percent, as announced by the China Steel Logistics Committee (CSLC).

In September, the overall new order index for Hebei Province’s steel sector stood at 39.1 percent, down 10.7 percentage points compared to the previous month amid re-rolling production restrictions aimed at limiting energy consumption.

In the given month, the production index for Hebei Province’s steel sector was at 40.4 percent, down 3.1 percentage points month on month.

At the same time, the inventory index for finished steel in Hebei Province decreased to 39.1 percent, down 8.5 percentage points month on month.

As for October, demand for steel will likely improve, while the negative impact from production restrictions will likely continue as China is seeking to restrict its crude steel output within 330 million mt for the September-December period. 

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