Hebei's steel PMI declines in August

The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province, the country's top steel production base, dropped by 1.5 percentage points on month to reach 55.5% in August, the latest data released by the Hebei Metallurgical Industry Association show.

The index was still above the 50-threshold connoting expansion, though, and was also 5.7% higher than China's national steel PMI, which fell by 0.7% on month to sit at 49.8% in August, as Mysteel Global reported. The sub-index for new orders received by Hebei's steel mills edged down by 1.3% on month to stand