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Hebei’s Nov steel PMI stays in expansion mode at 51

The Purchasing Managers’ Index (PMI) for the steel industry of Hebei province, the country’s top steel production base in North China, decreased for the third month in November, easing by another 0.8 basis point on month to 51 last month, according to the latest release by the Hebei Metallurgical Industry Association.
Despite of the further decline,Hebei’sNovembersteel PMInonetheless remained in the expansion zonefor the seventh straight month, indicating the smooth running of the province’s steel industry. The result was 1.7 basis points higher compared with that for the whole country’s steel industry last month, Mysteel Global noted. InNovember, the sub-index for new orders among the province’s local steel millsreversed

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