CSLPC: China's Aug steel PMI recovers to 6-mth high of 46

In August, China's Purchasing Managers' Index (PMI) for steel industry reversed from two months of declines by 13.1 percentage points on month to reach a six-month high of 46.1, as the official index compiler CFLP Steel Logistics Professional Committee (CSLPC) shared in its latest release on Wednesday morning.

The result was largely because that the downtrend in steel demand had slowed down while steel production had recovered, though both demand and supply remained relatively dull. On the other hand, prices of both raw materials and finished steel moved up, CSLPC noted. As for September, "Chinese steel demand may