Retail stocks of the five major carbon steel items held by the Chinese traders that Mysteel regularly checks accumulated moderately during the week-long National Day holiday over October 1-7, according to the results of Mysteel's latest survey.

The Purchasing Managers Index (PMI) for the steel industry in North China's Hebei province – the country's top steel production base – declined by 3.2 points on month in September to reach 48, falling below the 50-point threshold that connotes contraction, according to new data released by the Hebei

China's PP market is expected to see a supply recovery in October, thanks to a wave of unit restarts. However, the supply-demand gap of PP will turn negative in line with strong downstream consumption.