CSLPC: China's steel PMI back to contraction zone in Dec

In December, China's Purchasing Managers' Index (PMI) for the steel industry declined for a second month to score 47.5, down from 50.6 for November and returning to the contraction zone once again, according to the latest release from the CFLP Steel Logistics Professional Committee (CSLPC) on Tuesday.

Both steel demand and production declined last month, raw materials prices fell further, and finished steel prices fluctuated at low levels, CSLPC said. The sub-index of new steel orders stood at 48.7 in December, down from 50.5 in the previous month, as work on building sites had been disrupted by