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Hebei’s April steel PMI recovers further to 48.7

The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s largest steel production base, recovered for a second straight month in April to reach 48.7, up 4.4 basis points from that in March, according to the latest release by the Hebei Metallurgical Industry Association released on May 1.
Although Hebei’s steel PMI was still struggling with contraction in April, it was 2.8 basis points higher than the 45.9 recorded for the steel industry nationally last month, Mysteel Global notes. Hebei’s sub-index for new orders continued to grow in April, gaining another 3.9 basis points on month to 45.6, mainly thanks to the further recovery

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