CSLPC: China's Sept steel PMI rises to 49

The Purchasing Managers' Index (PMI) for China's steel industry scored 49 in September, up significantly from August's 40.4, indicating that the sector is recovering, the official index compiler - CFLP Steel Logistics Professional Committee (CSLPC) announced in its latest release on September 30.

The CSLPC pointed out that during September, domestic steel demand picked up, steel production grew moderately, the pace of the decline in raw materials prices slowed, and finished steel prices recorded gains. In September, the sub-index of new steel orders was 47.2, compared with 38.5 in August, as demand had