CSLPC: China's March steel PMI rises further, yet still low

In March, China's Purchasing Managers' Index (PMI) for the steel industry rose for a second month to score 46, up from 45.1 for February though remaining in the contraction zone below 50, according to the latest release from the CFLP Steel Logistics Professional Committee (CSLPC) on March 31.

The latest reading indicated the steel sector is recovering very gradually, with demand picking up slowly, while output is staying steady, CSLPC said. Both prices of raw materials and finished steel products trended downwards this month, it added. The sub-index of new steel orders stood at 41.1 in March, up