CSLPC: China's Sept steel PMI recovers marginally to 45.8

Source: Mysteel Oct 07, 2023 13:45

After a brief decline in August, China's Purchasing Managers' Index (PMI) for the steel industry recovered marginally by 0.6 percentage point on month to register 45.8 in September, though still in the contraction zone since March, as the domestic steel sector stabilized somewhat while remaining tight in the traditional robust season for steel consumption, the official index compiler - CFLP Steel Logistics Professional Committee (CSLPC) - shared in the release at the end of last month.

China's steel sector saw both demand and supply generally tighten during September, with steel demand having improved but to a limited extent while the overall steel production continuing to shrink. Meanwhile, prices of raw materials for steelmaking rose fast and finished steel prices acted rangebound, according to CSLPC. Last month,