China’s Nov steel PMI rises to 49.3 on fundamentals

The Purchasing Managers’ Index (PMI) for China’s steel industry for November scored 49.3, or up for the second month by another 3.5 basis points on month, with both demand and supply having shown signs of the continuing modest improvement, according to the latest release from the index compiler the CFLP Steel Logistics Professional Committee (CSLPC) on November 30.

“November was a month for the country’s domestic steel market showed signs of warming up in demand, production, and sales, and the domestic steel prices strengthened in general,” the committee summarized, “but the domestic demand may cool down with the colder weather, exports may soften, steel production may ease