CSLPC: China's steel PMI recovers to 50.5 in July

China's Purchasing Managers' Index (PMI) for the steel industry climbed from 45.9 in June to register 50.5 in July, returning to the expansion zone again after hovering below the 50-mark for two straight months, according to the latest release by the CFLP Steel Logistics Professional Committee (CSLPC) on July 31.

The rebound was largely driven by supportive macroeconomic policies from the Chinese central government, which helped boost both steel demand and production. Prices for steelmaking raw materials and finished steel products also saw significant recoveries. CSLPC noted that sentiment among Chinese steelmakers turned more optimistic this month, with many