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Hebei’s steel PMI reverses down but still in expansion

The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s largest steel production base, reversed down to 51.5 in June after the prior three months’ continuous increase, according to the latest release by the Hebei Metallurgical Industry Association.
Last month’s result for Hebei witnessed a month-on-month decrease of 2.4 basis points, but nonetheless remained above the threshold of 50 for the second consecutive month, indicating that the steel industry in Hebei kept running smoothly during that period. The result was 2.2 basis points higher compared with that for the whole country’s steel

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