In February this year, the Purchasing Managers' Index (PMI) for China's steel industry was 46.7 percent, down 3.2 percentage points from January this year, as announced by the China Steel Logistics Committee (CSLC), which is part of the China Federation of Logistics and Purchasing (CFLP).
the new orders index was 40.3 percent, down 9.9 percentage points from January.
In February, the new export orders index was 49.7 percent, up 11.8 percentage points from January, ending the monthly decline observed in the previous three consecutive months.
In February, the Chinese steel sector production index was 46.8 percent. 1.6 percentage points lower than in January.
In February, the index of finished steel inventories amounted to 45.3 percent, which is 6.9 percentage points lower than in January.
In February, the index of the volume of purchases of raw materials amounted to 41.8 percent, which is 16.1 percentage points lower than in January.
In February, the index of purchase prices for raw materials rose to 45.2 percent, which is higher than in January. 0.9 percentage points compared to January.
As for March, the full resumption of work after the Chinese New Year, increased infrastructure investment, continued recovery in production and a gradual recovery in exports will increase demand for steel, leading to a positive impulse in steel prices.
