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Hebei’s steel PMI expands to 53.9 in May

The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s largest steel production base, was at 53.9 points in May, rising well above the 50-point mark that separates growth from contraction for the first time for five months, according to the latest release by the Hebei Metallurgical Industry Association released on June 1.
Last month, factory activity in the province expanded for a third consecutive month but in March and April, the growth was not sufficient to nudge the PMI over the threshold of 50. For May, Hebei’s steel PMI witnessed a month-on-month rise of 5.2 basis points, which was also higher by 3 basis points from

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