In August this year, the purchasing managers index (PMI) of the steel sector in China’s Hebei Province decreased to 55.5 percent, down 1.5 percentage points month on month, as announced by the Hebei Province Metallurgical Industry Association (MIA). In the given month, the trend of the PMI for the steel sector in Hebei Province was the same as that for the whole of China, which decreased by 0.7 percentage points month on month to 49.8 percent, as announced by the China Steel Logistics Committee (CSLC).
In August, the overall new order index for Hebei Province’s steel sector decreased to 64.1 percent, down 1.3 percentage points compared to the previous month.
In August, the production index for Hebei Province’s steel sector decreased by 6.1 percentage points, standing at 46.3 percent.
In the given month, the new export order index for Hebei Province’s steel sector remained stable month on month, standing at 45.0 percent.
At the same time, the inventory index for finished steel in Hebei Province rose by 2.6 percentage points month on month to 52.6 percent in August.
In August, the inventory index for raw materials in Hebei Province stood at 54.9 percent, up 4.9 percentage points month on month.
The ex-works price index for finished steel stood at 57.3 percent in August, down 13.4 percentage points month on month.
In August, the purchasing price index for raw materials stood at 80.5 percent, up 7.3 percentage points from July this year.
Steel prices in Hebei Province are expected to increase in September amid improved demand from downstream users during the traditional peak season.